M&T Bank (MTB) FY2012 results: revenue $4.3 billion, up 7.4% on the year
M&T Bank Corp. (MTB) reported revenue of $4.3 billion for fiscal 2012, the year ended 31 December 2012, up 7.4% on the year before. Net income was $1.0 billion, up 19.8%, and diluted earnings per share $7.54. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$4.3 billion
+7.4% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$1.0 billion
+19.8% on the year
FY2007FY2012
Diluted EPS
$7.54
+18.7% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,266
3,973
3,376
+7.4%
Interest expense
343
402
462
-14.7%
Pre-tax income
1,553
1,225
1,093
+26.8%
Income tax
523
365
357
+43.2%
Effective tax rate
33.7%
29.8%
32.6%
Net income
1,029
859
736
+19.8%
Net margin
24.1%
21.6%
21.8%
Diluted EPS
$7.54
$6.35
$5.69
+18.7%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
500
1,772
1,676
-71.8%
Capital expenditure
92.0
70.0
70.5
+31.4%
Free cash flow
408
1,702
1,605
-76.0%
Cash from investing
-4,061
369
475
Cash from financing
4,095
-1,623
-2,464
Share-based compensation
57.0
56.0
54.0
+1.8%
Dividends paid
358
350
335
+2.2%
Dividend per share
$2.80
$2.80
$2.80
0.0%
Diluted shares, weighted
126m
123m
119m
+2.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
10,203
9,271
8,358
+10.0%
Deposits
65,611
59,395
49,805
+10.5%
Repurchase agreements
1,074
732
867
+46.8%
Debt
5,682
7,468
8,788
-23.9%
Other liabilities
438
1,058
204
-58.6%
Total liabilities and equity
83,009
77,924
68,021
+6.5%
Fixed assets
595
581
436
+2.3%
Goodwill
3,525
3,525
3,525
0.0%
Intangible assets
116
176
126
-34.4%
Securities held for sale or to maturity
5,661
7,091
1,324
-20.2%
Loans
65,645
59,188
51,087
+10.9%
Trading assets
489
562
524
-13.0%
Cash and equivalents
1,987
1,452
934
+36.8%
Other assets
4,992
5,349
10,066
-6.7%
Total assets
83,009
77,924
68,021
+6.5%
10-K for the year ended 31 December 2012, filed 21 February 2014: the filing.