M&T Bank (MTB) FY2024 results: revenue $9.3 billion, down 3.8% on the year
M&T Bank Corp. (MTB) reported revenue of $9.3 billion for fiscal 2024, the year ended 31 December 2024, down 3.8% on the year before. Net income was $2.6 billion, down 5.6%, and diluted earnings per share $14.64. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.
Revenue
$9.3 billion
-3.8% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$2.6 billion
-5.6% on the year
FY2017FY2024
Diluted EPS
$14.64
-7.3% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,610
3,905
4,574
-7.6%
Capital expenditure
216
256
214
-15.6%
Free cash flow
3,394
3,649
4,360
-7.0%
Cash from investing
-9,746
-4,764
16,593
Cash from financing
-2,882
4,180
-20,984
Depreciation and amortisation
316
304
282
+3.9%
Share-based compensation
116
118
111
-1.7%
Buybacks
396
594
1,800
-33.3%
Dividends paid
895
868
784
+3.1%
Dividend per share
$5.35
$5.20
$4.80
+2.9%
Diluted shares, weighted
167m
167m
164m
+0.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
29,027
26,957
25,318
+7.7%
Deposits
161,095
163,274
163,515
-1.3%
Repurchase agreements
60.0
316
355
-81.0%
Debt
13,665
13,517
7,520
+1.1%
Other liabilities
4,258
4,200
4,022
+1.4%
Total liabilities and equity
208,105
208,264
200,730
-0.1%
Fixed assets
1,705
1,739
1,654
-2.0%
Goodwill
8,465
8,465
8,490
0.0%
Intangible assets
94.0
147
209
-36.1%
Securities held for sale or to maturity
33,044
25,770
24,279
+28.2%
Loans
133,397
131,939
129,639
+1.1%
Cash and equivalents
20,782
29,800
26,479
-30.3%
Other assets
10,618
10,404
9,980
+2.1%
Total assets
208,105
208,264
200,730
-0.1%
10-K for the year ended 31 December 2024, filed 19 February 2025: the filing.