M&T Bank (MTB) FY2015 results: revenue $4.7 billion, up 4.8% on the year
M&T Bank Corp. (MTB) reported revenue of $4.7 billion for fiscal 2015, the year ended 31 December 2015, up 4.8% on the year before. Net income was $1.1 billion, up 1.3%, and diluted earnings per share $7.18. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$4.7 billion
+4.8% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$1.1 billion
+1.3% on the year
FY2008FY2015
Diluted EPS
$7.18
-3.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,668
4,456
4,538
+4.8%
Interest expense
328
280
284
+17.1%
Pre-tax income
1,675
1,642
1,766
+2.0%
Income tax
595
576
627
+3.3%
Effective tax rate
35.5%
35.1%
35.5%
Net income
1,080
1,066
1,138
+1.3%
Net margin
23.1%
23.9%
25.1%
Diluted EPS
$7.18
$7.42
$8.20
-3.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,742
1,099
932
+58.5%
Capital expenditure
82.0
73.0
130
+12.3%
Free cash flow
1,660
1,026
802
+61.8%
Cash from investing
n/a
n/a
-2,204
Cash from financing
n/a
n/a
958
Depreciation and amortisation
99.0
96.5
91.5
+2.6%
Share-based compensation
67.0
65.0
55.0
+3.1%
Dividends paid
375
371
365
+1.0%
Dividend per share
$2.80
$2.80
$2.80
0.0%
Diluted shares, weighted
138m
132m
130m
+4.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
16,173
12,336
11,306
+31.1%
Deposits
91,958
73,582
67,119
+25.0%
Repurchase agreements
151
193
260
-21.9%
Debt
12,786
9,200
5,369
+39.0%
Other liabilities
1,720
1,375
1,108
+25.1%
Total liabilities and equity
122,788
96,686
85,162
+27.0%
Fixed assets
667
613
634
+8.8%
Goodwill
4,593
3,525
3,525
+30.3%
Intangible assets
140
35.0
68.9
+300.5%
Securities held for sale or to maturity
15,019
12,581
8,365
+19.4%
Loans
86,534
65,749
63,156
+31.6%
Trading assets
274
308
376
-11.2%
Cash and equivalents
1,368
1,373
1,673
-0.4%
Other assets
14,194
12,501
7,365
+13.5%
Total assets
122,788
96,686
85,162
+27.0%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.