M&T Bank (MTB) FY2016 results: revenue $5.3 billion, up 13.5% on the year
M&T Bank Corp. (MTB) reported revenue of $5.3 billion for fiscal 2016, the year ended 31 December 2016, up 13.5% on the year before. Net income was $1.3 billion, up 21.8%, and diluted earnings per share $7.78. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$5.3 billion
+13.5% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$1.3 billion
+21.8% on the year
FY2009FY2016
Diluted EPS
$7.78
+8.4% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,296
4,668
4,456
+13.5%
Interest expense
426
328
280
+29.8%
Pre-tax income
2,058
1,675
1,642
+22.9%
Income tax
743
595
576
+24.9%
Effective tax rate
36.1%
35.5%
35.1%
Net income
1,315
1,080
1,066
+21.8%
Net margin
24.8%
23.1%
23.9%
Diluted EPS
$7.78
$7.18
$7.42
+8.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,183
1,742
1,099
-32.1%
Capital expenditure
108
82.0
73.0
+31.7%
Free cash flow
1,075
1,660
1,026
-35.2%
Cash from investing
-721
n/a
n/a
Cash from financing
-510
n/a
n/a
Depreciation and amortisation
107
99.0
96.5
+8.1%
Share-based compensation
65.0
67.0
65.0
-3.0%
Buybacks
641
n/a
n/a
Dividends paid
442
375
371
+17.8%
Dividend per share
n/a
$2.80
$2.80
Diluted shares, weighted
157m
138m
132m
+14.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
16,487
16,173
12,336
+1.9%
Deposits
95,494
91,958
73,582
+3.8%
Repurchase agreements
163
151
193
+8.6%
Debt
9,657
12,786
9,200
-24.5%
Other liabilities
1,648
1,720
1,375
-4.2%
Total liabilities and equity
123,449
122,788
96,686
+0.5%
Fixed assets
675
667
613
+1.3%
Goodwill
4,593
4,593
3,525
0.0%
Intangible assets
97.7
140
35.0
-30.4%
Securities held for sale or to maturity
15,437
15,019
12,581
+2.8%
Loans
89,864
86,534
65,749
+3.8%
Trading assets
324
274
308
+18.3%
Cash and equivalents
1,321
1,368
1,373
-3.5%
Other assets
11,137
14,194
12,501
-21.5%
Total assets
123,449
122,788
96,686
+0.5%
10-K for the year ended 31 December 2016, filed 22 February 2017: the filing.