M&T Bank (MTB) FY2011 results: revenue $4.0 billion, up 17.7% on the year
M&T Bank Corp. (MTB) reported revenue of $4.0 billion for fiscal 2011, the year ended 31 December 2011, up 17.7% on the year before. Net income was $859 million, up 16.8%, and diluted earnings per share $6.35. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$4.0 billion
+17.7% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$859 million
+16.8% on the year
FY2007FY2011
Diluted EPS
$6.35
+11.6% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
3,973
3,376
3,104
+17.7%
Interest expense
402
462
669
-13.0%
Pre-tax income
1,225
1,093
519
+12.1%
Income tax
365
357
139
+2.4%
Effective tax rate
29.8%
32.6%
26.8%
Net income
859
736
380
+16.8%
Net margin
21.6%
21.8%
12.2%
Diluted EPS
$6.35
$5.69
$2.89
+11.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,772
1,676
1,189
+5.8%
Capital expenditure
70.0
70.5
59.0
-0.7%
Free cash flow
1,702
1,605
1,130
+6.0%
Cash from investing
369
475
2,502
-22.4%
Cash from financing
-1,623
-2,464
-4,013
Share-based compensation
56.0
54.0
54.0
+3.7%
Buybacks
n/a
n/a
0.0
Dividends paid
350
335
326
+4.4%
Dividend per share
$2.80
$2.80
$2.80
0.0%
Diluted shares, weighted
123m
119m
115m
+3.6%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
9,271
8,358
7,753
+10.9%
Deposits
59,395
49,805
47,450
+19.3%
Repurchase agreements
732
867
2,212
-15.5%
Short-term borrowings
n/a
n/a
231
Debt
7,468
8,788
10,240
-15.0%
Other liabilities
1,058
204
995
+418.3%
Total liabilities and equity
77,924
68,021
68,880
+14.6%
Fixed assets
581
436
436
+33.4%
Goodwill
3,525
3,525
3,525
0.0%
Intangible assets
176
126
182
+40.1%
Securities held for sale or to maturity
7,091
1,324
568
+435.4%
Loans
59,188
51,087
51,059
+15.9%
Trading assets
562
524
387
+7.3%
Cash and equivalents
1,452
934
1,246
+55.5%
Other assets
5,349
10,066
11,478
-46.9%
Total assets
77,924
68,021
68,880
+14.6%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.