MTB-PJ FY 2025 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

FY 2025 Earnings

Reported February 18, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$12.3B	—	$13.4B	—	-8.2%
Op. Income	$3.7B	—	$3.3B	—	11.5%
Gross Margin	74.6%	—	64.3%	—	10.3pp
Net Margin	23.2%	—	19.3%	—	3.9pp
EPS (Diluted)	$17.00	—	$14.64	—	16.1%
Free Cash Flow	$2.9B	—	$3.4B	—	-15.7%

Revenue Flow

Item	Amount
REVENUE	$12.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$9.2B
R&D Expenses	$0
Selling & Marketing	$110M
General & Administrative	$3.1B
SG&A Expenses	$3.2B
Other Expenses	$2.3B
Operating Expenses	$5.5B
Cost & Expenses	$8.6B
OPERATING INCOME	$3.7B
Interest Income	$10.5B
Interest Expense	$3.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.7B
Income Tax Expense	$841M
Net Income from Continuing Ops	$2.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$264M
EBIT	$3.7B
EBITDA	$4.0B
EPS	$17
EPS Diluted	$17

Income Statement

Item	Amount
REVENUE	$12.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$9.2B
R&D Expenses	$0
Selling & Marketing	$110M
General & Administrative	$3.1B
SG&A Expenses	$3.2B
Other Expenses	$2.3B
Operating Expenses	$5.5B
Cost & Expenses	$8.6B
OPERATING INCOME	$3.7B
Interest Income	$10.5B
Interest Expense	$3.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.7B
Income Tax Expense	$841M
Net Income from Continuing Ops	$2.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$264M
EBIT	$3.7B
EBITDA	$4.0B
EPS	$17
EPS Diluted	$17

Cash Flow Statement

Item	Amount
Net Income	$2.9B
Depreciation & Amortization	$498M
Stock-Based Compensation	$136M
Deferred Income Tax	$0
Other Non-Cash Items	-$76M
Change in Working Capital	-$406M
OPERATING CASH FLOW	$3.0B
Capital Expenditure	-$143M
Acquisitions (Net)	-$683M
Purchases of Investments	-$9.4B
Sales/Maturities of Investments	$6.8B
Other Investing Activities	-$2.4B
NET CASH FROM INVESTING	-$6.8B
Net Debt Issuance	-$758M
Common Stock Repurchased	-$2.6B
Common Dividends Paid	-$899M
Other Financing Activities	$5.8B
NET CASH FROM FINANCING	$1.8B
FREE CASH FLOW	$2.9B
Net Change in Cash	-$2.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$18.8B
Short-Term Investments	$36.6B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$55.4B
PP&E (Net)	$0
Goodwill	$8.5B
Intangible Assets	$64M
Long-Term Investments	$136.6B
Tax Assets	$0
Other Non-Current Assets	$13.0B
TOTAL NON-CURRENT ASSETS	$158.1B
TOTAL ASSETS	$213.5B
Account Payables	$0
Short-Term Debt	$2.1B
Deferred Revenue	$0
Other Current Liabilities	$171.3B
TOTAL CURRENT LIABILITIES	$173.4B
Long-Term Debt	$10.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$10.9B
TOTAL LIABILITIES	$184.3B
Common Stock	$90M
Additional Paid-In Capital	$10.0B
Retained Earnings	$20.9B
Treasury Stock	-$4.9B
Accum. Other Comp. Income	$277M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$29.2B
Minority Interest	$0
TOTAL EQUITY	$29.2B
TOTAL LIABILITIES & EQUITY	$213.5B
Total Debt	$13.1B
Net Debt	-$5.7B