Bank of Montreal (BMO) annual results, year to 31 October 2025: revenue CAD 36,274 million, from the 40-F
Bank of Montreal files a 40-F with the SEC once a year, in Canadian dollars. In the year to 31 October 2025 it reported revenue of CAD 36,274 million ($25.9 billion at the year's average rate), up 10.6% on the year before. Its profit attributable to shareholders was CAD 8,709 million, up 19.0%, and diluted earnings per share CAD 11.44.
The year to 31 October 2025, against the year before
| Year to | Oct 2024 † | Oct 2025 |
|---|---|---|
| Revenue | 32,795 | 36,274 |
| Profit before tax | 9,535 | 11,550 |
| Income tax | 2,208 | 2,825 |
| Profit for the year | 7,327 | 8,725 |
| Profit attributable to shareholders | 7,318 | 8,709 |
| Filing | 40-F | 40-F |
CAD million, from the 40-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
CAD per ordinary share, as filed.
Cash flow
CAD million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Oct 2024 † | Oct 2025 |
|---|---|---|
| Total assets | 1,409,647 | 1,476,802 |
| Equity attributable to shareholders | 84,250 | 88,051 |
| Cash and cash equivalents | 65,098 | 67,484 |
| Lease liabilities | 3,326 | 3,315 |
| Goodwill | 16,774 | 16,797 |
| Filing | 40-F | 40-F |
CAD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Oct 2024 † | Oct 2025 |
|---|---|---|
| Net margin | 22.3% | 24.0% |
| Return on year-end equity | 8.7% | 9.9% |
| Effective tax rate | 23.2% | 24.5% |
| Filing | 40-F | 40-F |
Arithmetic on the filed lines of the same year.
The exchange rates used
| Year to | Average over the year CAD per US dollar | At the year end CAD per US dollar |
|---|---|---|
| Oct 2016 | 1.33 | 1.34 |
| Oct 2017 | 1.31 | 1.29 |
| Oct 2018 | 1.29 | 1.31 |
| Oct 2019 | 1.33 | 1.31 |
| Oct 2020 | 1.35 | 1.33 |
| Oct 2021 | 1.26 | 1.24 |
| Oct 2022 | 1.29 | 1.36 |
| Oct 2023 | 1.35 | 1.39 |
| Oct 2024 | 1.36 | 1.39 |
| Oct 2025 | 1.40 | 1.40 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXCAUS. Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in Canadian dollars.
Every annual report here
- Year to 31 October 2025, this page
- Year to 31 October 2024
- Year to 31 October 2023
- Year to 31 October 2022
- Year to 31 October 2021
- Year to 31 October 2020
- Year to 31 October 2019
- Year to 31 October 2018
- Year to 31 October 2017
- Year to 31 October 2016
Source
40-F for the year to 31 October 2025, filed 4 December 2025, accession 0001193125-25-307982: the filing on EDGAR. All of Bank of Montreal's filings: EDGAR company page. The figures are in Canadian dollars as filed.
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