M&T Bank (MTB) FY2017 results: revenue $5.6 billion, up 6.4% on the year
M&T Bank Corp. (MTB) reported revenue of $5.6 billion for fiscal 2017, the year ended 31 December 2017, up 6.4% on the year before. Net income was $1.4 billion, up 7.1%, and diluted earnings per share $8.70. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$5.6 billion
+6.4% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$1.4 billion
+7.1% on the year
FY2010FY2017
Diluted EPS
$8.70
+11.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,632
5,296
4,668
+6.4%
Interest expense
387
426
328
-9.2%
Pre-tax income
2,324
2,058
1,675
+12.9%
Income tax
916
743
595
+23.2%
Effective tax rate
39.4%
36.1%
35.5%
Net income
1,408
1,315
1,080
+7.1%
Net margin
25.0%
24.8%
23.1%
Diluted EPS
$8.70
$7.78
$7.18
+11.8%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,782
1,183
1,742
+135.1%
Capital expenditure
79.0
108
82.0
-26.9%
Free cash flow
2,703
1,075
1,660
+151.3%
Cash from investing
3,395
-721
n/a
Cash from financing
-6,077
-510
n/a
Depreciation and amortisation
110
107
99.0
+2.4%
Share-based compensation
61.0
65.0
67.0
-6.2%
Buybacks
1,206
641
n/a
+88.0%
Dividends paid
457
442
375
+3.5%
Dividend per share
n/a
n/a
$2.80
Diluted shares, weighted
153m
157m
138m
-3.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
16,251
16,487
16,173
-1.4%
Deposits
92,432
95,494
91,958
-3.2%
Repurchase agreements
n/a
163
151
Debt
8,317
9,657
12,786
-13.9%
Other liabilities
1,594
1,648
1,720
-3.3%
Total liabilities and equity
118,593
123,449
122,788
-3.9%
Fixed assets
646
675
667
-4.3%
Goodwill
4,593
4,593
4,593
0.0%
Intangible assets
71.6
97.7
140
-26.7%
Securities held for sale or to maturity
14,249
15,437
15,019
-7.7%
Loans
86,972
89,864
86,534
-3.2%
Trading assets
133
324
274
-59.0%
Cash and equivalents
1,421
1,321
1,368
+7.6%
Other assets
10,507
11,137
14,194
-5.7%
Total assets
118,593
123,449
122,788
-3.9%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.