MTBM&T Bank

Financials · Banks · NYSE

M&T is a New York business corporation that has elected to be treated as an FHC under the BHCA and is a BHC under Article III-A of the New York Banking Law. 10-K, Item 1

Headquarters: Buffalo, NY
CEO: Rene F. Jones
Next results: around Jan 15, 2027

Compare with peers → Embed

MTB and 9 peers, year by year

The 9 Financials companies closest to MTB in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

5 years 10 years Download CSV

Choose the peers

Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
MTB M&T Bank	FY2025	$9.7B	+7.5%	-	-	29.4%	-	9.8%	0.45
WTW Willis Towers Watson	FY2025	$9.7B	−2.3%	-	23.0%	16.5%	15.9%	20.1%	1.21
HBAN Huntington Bancshares	FY2025	$8.2B	+6.4%	-	-	27.1%	27.1%	9.1%	0.76
BEN Franklin Resources	FY2026	$9.4B	+7.3%	-	12.5%	11.4%	8.7%	9.0%	0.22
NDAQ Nasdaq, Inc.	FY2025	$8.3B	+11.6%	63.5%	28.2%	21.6%	24.1%	14.6%	0.74
CFG Citizens Financial Group	FY2025	$8.2B	+6.7%	-	-	22.2%	-	7.0%	0.43
GPN Global Payments	FY2025	$7.7B	−0.4%	-	22.8%	18.2%	26.5%	6.1%	0.94
NTRS Northern Trust	FY2025	$8.1B	+6.1%	-	-	21.5%	67.5%	13.4%	-
FITB Fifth Third Bancorp	FY2025	$9.0B	−20.0%	-	-	28.0%	43.6%	11.6%	0.67
MCO Moody's Corporation	FY2025	$7.7B	+8.9%	-	43.4%	31.9%	33.4%	60.7%	1.73

Revenuepeer median $8.2B

Sales growthpeer median +6.4%

Operating marginpeer median 23.0%

MCO 43.4%
NDAQ 28.2%
WTW 23.0%
GPN 22.8%
BEN 12.5%
MTB -
HBAN -
CFG -
NTRS -
FITB -

Net marginpeer median 21.6%

FCF marginpeer median 26.8%

Return on equitypeer median 11.6%

Debt / equitypeer median 0.75

MCO 1.73
WTW 1.21
GPN 0.94
HBAN 0.76
NDAQ 0.74
FITB 0.67
MTB 0.45
CFG 0.43
BEN 0.22
NTRS -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	$5.3B	$5.6B	$5.9B	$6.2B	$6.0B	$6.0B	$8.2B	$9.6B	$9.3B	$9.7B
WTW Dec	$7.9B	$8.2B	$8.5B	$8.4B	$8.6B	$9.5B	-	-	$9.9B	$9.7B
HBAN Dec	$3.5B	$4.3B	$4.5B	$4.7B	$4.8B	$6.0B	$7.3B	$7.4B	$7.4B	$8.2B
BEN Sep	$6.6B	$6.4B	$6.3B	$5.8B	$5.6B	$8.4B	$8.3B	$7.8B	$8.5B	$8.8B
NDAQ Dec	$3.7B	$3.9B	$4.3B	$4.3B	$5.6B	$5.9B	$6.2B	$6.1B	$7.4B	$8.3B
CFG Dec	$5.3B	$5.7B	$6.1B	$6.5B	$6.9B	$6.6B	$8.0B	$8.2B	$7.8B	$8.2B
GPN Dec	$3.4B	$4.0B	$3.4B	$4.9B	$7.4B	$8.5B	$9.0B	$7.4B	$7.7B	$7.7B
NTRS Dec	$5.0B	$5.4B	$6.0B	$6.1B	$6.1B	$6.5B	$6.8B	$6.8B	$8.3B	$8.1B
FITB Dec	$6.3B	$7.0B	$6.9B	$8.3B	$7.6B	$7.9B	$8.4B	$8.7B	$8.5B	$9.0B
MCO Dec	$3.6B	$4.2B	$4.4B	$4.8B	$5.4B	$6.2B	$5.5B	$5.9B	$7.1B	$7.7B
Peer median	$5.0B	$5.4B	$6.0B	$5.8B	$6.1B	$6.6B	$7.6B	$7.4B	$7.8B	$8.2B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	+13.5%	+6.4%	+5.3%	+4.4%	−3.8%	+0.6%	+36.5%	−2.7%	+3.8%	+7.5%
WTW Dec	+106%	+4.0%	+3.8%	+6.3%	+3.2%	+6.6%	-	-	+4.7%	−2.3%
HBAN Dec	+17.7%	+22.4%	+4.7%	+6.6%	−5.9%	+25.9%	+18.4%	+6.2%	+4.9%	+6.4%
BEN Sep	-	−3.4%	−1.1%	−8.6%	−1.8%	+51.4%	−1.8%	−5.1%	+8.0%	+3.5%
NDAQ Dec	+8.9%	+6.6%	+8.3%	−0.4%	+32.1%	+4.6%	+5.8%	−2.6%	+22.0%	+11.6%
CFG Dec	+8.9%	+8.6%	+7.4%	+5.9%	−7.8%	+22.7%	−2.0%	−2.5%	+21.1%	+6.7%
GPN Dec	-	+17.9%	−15.3%	+45.9%	+51.1%	+14.8%	+5.3%	+7.6%	+4.8%	−0.4%
NTRS Dec	+5.5%	+8.3%	+9.3%	+2.6%	+3.7%	+9.2%	+1.6%	−1.6%	+8.4%	+6.1%
FITB Dec	−3.4%	−0.7%	−0.9%	+2.9%	−1.1%	+7.3%	−1.8%	−7.5%	−25.9%	−20.0%
MCO Dec	+3.4%	+16.6%	+5.7%	+8.7%	+11.2%	+15.8%	−12.1%	+8.2%	+19.8%	+8.9%
Peer median	+8.9%	+8.3%	+4.7%	+5.9%	+3.2%	+14.8%	−0.1%	−2.1%	+8.0%	+6.1%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	-	-	-	-	-	-	-	-	-	-
WTW Dec	-	-	-	-	-	-	-	-	-	-
HBAN Dec	-	-	-	-	-	-	-	-	-	-
BEN Sep	-	-	-	-	-	-	-	-	-	-
NDAQ Dec	61.4%	61.1%	59.1%	59.5%	51.6%	58.1%	57.5%	64.2%	62.8%	63.5%
CFG Dec	-	-	-	-	-	-	-	-	-	-
GPN Dec	-	-	-	-	-	-	-	-	-	-
NTRS Dec	-	-	-	-	-	-	-	-	-	-
FITB Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	-	-	-	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	-	-	-	-	-	-	-	-	-	-
WTW Dec	4.4%	6.3%	9.5%	12.6%	10.0%	14.4%	-	-	6.3%	23.0%
HBAN Dec	-	-	-	-	-	-	-	-	-	-
BEN Sep	35.7%	35.4%	32.1%	25.4%	18.8%	22.3%	21.4%	14.0%	4.8%	6.9%
NDAQ Dec	22.6%	25.1%	24.0%	23.9%	21.9%	24.5%	25.1%	26.0%	24.3%	28.2%
CFG Dec	-	-	-	-	-	-	-	-	-	-
GPN Dec	10.6%	14.1%	21.9%	16.1%	12.0%	15.9%	7.1%	17.8%	25.5%	22.8%
NTRS Dec	-	-	-	-	-	-	-	-	-	-
FITB Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	18.1%	43.3%	42.0%	41.4%	44.5%	45.7%	34.4%	36.1%	40.6%	43.4%
Peer median	18.1%	25.1%	24.0%	23.9%	18.8%	22.3%	23.3%	21.9%	24.3%	23.0%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	24.8%	25.0%	32.4%	31.2%	22.7%	31.0%	24.4%	28.4%	27.9%	29.4%
WTW Dec	5.3%	6.9%	8.2%	12.5%	11.6%	11.1%	-	-	−1.0%	16.5%
HBAN Dec	20.2%	27.5%	30.9%	30.2%	17.0%	21.6%	30.9%	26.5%	26.3%	27.1%
BEN Sep	26.1%	26.5%	12.1%	20.7%	14.4%	21.7%	15.6%	11.2%	5.5%	6.0%
NDAQ Dec	2.9%	18.5%	10.7%	18.2%	16.6%	20.2%	18.1%	17.5%	15.1%	21.6%
CFG Dec	19.9%	28.9%	28.1%	27.6%	15.3%	34.9%	25.8%	19.6%	19.3%	22.2%
GPN Dec	6.0%	11.8%	13.4%	8.8%	7.9%	11.3%	1.2%	13.4%	20.3%	18.2%
NTRS Dec	20.8%	22.3%	26.1%	24.6%	19.8%	23.9%	19.8%	16.3%	24.5%	21.5%
FITB Dec	24.5%	31.0%	31.6%	30.1%	18.7%	35.1%	29.2%	27.0%	27.3%	28.0%
MCO Dec	7.4%	23.8%	29.5%	29.4%	33.1%	35.6%	25.1%	27.2%	29.0%	31.9%
Peer median	19.9%	23.8%	26.1%	24.6%	16.6%	21.7%	22.4%	18.5%	20.3%	21.6%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	$1.1B	$2.7B	$2.0B	$2.2B	$617.2M	$2.6B	$4.4B	$3.6B	-	-
WTW Dec	$715.0M	$562.0M	$1.0B	-	-	$1.1B	-	-	$1.3B	$1.5B
HBAN Dec	$1.1B	$1.8B	$1.6B	$1.5B	$1.2B	$1.8B	$3.8B	$2.5B	$1.7B	$2.2B
BEN Sep	$1.6B	$1.1B	$2.1B	$34.8M	$979.6M	$1.2B	$1.9B	$940.4M	$794.2M	$911.6M
NDAQ Dec	$642.0M	$765.0M	$917.0M	$836.0M	$1.1B	$920.0M	$1.6B	$1.5B	$1.7B	$2.0B
CFG Dec	$1.4B	$1.6B	$1.5B	$1.6B	-	-	-	-	-	-
GPN Dec	-	$330.5M	$892.8M	$1.1B	$1.9B	$2.3B	$1.6B	$1.9B	$2.4B	$2.0B
NTRS Dec	$1.4B	$1.6B	$1.7B	$2.4B	$1.8B	$1.3B	$2.3B	$2.5B	−$587.5M	$5.5B
FITB Dec	$1.9B	$1.3B	$2.7B	$1.6B	$66.0M	$2.4B	$6.1B	$4.0B	$2.4B	$3.9B
MCO Dec	$1.1B	$664.0M	$1.4B	$1.6B	$2.0B	$1.9B	$1.2B	$1.9B	$2.5B	$2.6B
Peer median	$1.2B	$1.1B	$1.5B	$1.5B	$1.2B	$1.5B	$1.9B	$1.9B	$1.7B	$2.1B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	20.3%	48.0%	33.6%	35.2%	10.4%	42.8%	53.3%	37.8%	-	-
WTW Dec	9.1%	6.9%	12.0%	-	-	11.6%	-	-	12.8%	15.9%
HBAN Dec	31.1%	40.8%	35.8%	31.4%	25.0%	30.3%	52.6%	34.2%	22.9%	27.1%
BEN Sep	24.6%	16.6%	33.6%	0.6%	17.6%	13.8%	22.6%	12.0%	9.4%	10.4%
NDAQ Dec	17.3%	19.4%	21.4%	19.6%	18.9%	15.6%	25.0%	25.4%	23.4%	24.1%
CFG Dec	25.7%	28.6%	25.0%	24.2%	-	-	-	-	-	-
GPN Dec	-	8.3%	26.5%	22.1%	25.3%	26.8%	18.1%	25.6%	30.8%	26.5%
NTRS Dec	28.2%	30.3%	28.0%	40.1%	28.9%	19.5%	33.5%	37.0%	−7.1%	67.5%
FITB Dec	30.2%	18.2%	38.4%	19.0%	0.9%	30.4%	72.6%	46.1%	28.4%	43.6%
MCO Dec	31.7%	15.8%	30.8%	33.3%	38.0%	30.0%	21.8%	31.8%	35.6%	33.4%
Peer median	27.0%	18.2%	28.0%	23.1%	25.0%	23.2%	25.0%	31.8%	23.2%	26.8%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	8.0%	8.7%	12.4%	12.3%	8.4%	10.4%	7.9%	10.2%	8.9%	9.8%
WTW Dec	4.2%	5.6%	7.1%	10.2%	9.2%	11.1%	-	-	−1.2%	20.1%
HBAN Dec	6.9%	11.0%	12.5%	12.0%	6.3%	6.7%	12.6%	10.1%	9.8%	9.1%
BEN Sep	14.5%	13.4%	7.7%	12.1%	7.9%	16.3%	11.3%	7.4%	3.7%	4.3%
NDAQ Dec	2.0%	12.4%	8.4%	13.7%	14.5%	18.6%	18.3%	9.8%	10.0%	14.6%
CFG Dec	5.3%	8.1%	8.3%	8.1%	4.7%	9.9%	8.8%	6.6%	6.2%	7.0%
GPN Dec	7.7%	12.3%	11.3%	1.5%	2.1%	3.8%	0.5%	4.3%	7.0%	6.1%
NTRS Dec	10.6%	11.7%	14.8%	13.5%	10.3%	12.9%	11.9%	9.3%	15.9%	13.4%
FITB Dec	9.5%	13.5%	13.5%	11.8%	6.2%	12.5%	14.1%	12.3%	11.8%	11.6%
MCO Dec	n/m	n/m	n/m	n/m	113.3%	81.2%	54.5%	48.4%	57.7%	60.7%
Peer median	7.3%	12.0%	9.9%	11.9%	7.9%	12.5%	12.2%	9.5%	9.8%	11.6%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	0.59	0.51	0.83	0.45	0.27	0.20	0.30	0.50	0.47	0.45
WTW Dec	0.54	0.57	0.65	0.78	0.73	0.78	-	-	1.08	1.21
HBAN Dec	1.16	1.32	0.96	1.06	0.66	0.39	0.66	0.67	0.84	0.76
BEN Sep	0.12	0.08	0.07	0.07	0.30	0.30	0.29	0.26	0.22	0.20
NDAQ Dec	0.66	0.72	0.70	0.60	0.86	0.91	0.88	0.97	0.85	0.74
CFG Dec	0.87	0.71	0.83	0.65	0.38	0.30	0.67	0.57	0.51	0.43
GPN Dec	1.69	1.23	1.29	0.33	0.34	0.45	0.61	0.71	0.73	0.94
NTRS Dec	-	-	-	-	-	-	-	-	-	-
FITB Dec	0.89	0.92	0.89	0.71	0.65	0.53	0.79	0.85	0.97	0.67
MCO Dec	n/m	n/m	12.37	9.12	4.09	2.72	2.93	2.11	2.08	1.73
Peer median	0.87	0.72	0.86	0.68	0.65	0.49	0.67	0.71	0.84	0.75

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
MTB Dec	$7.78	$8.70	$12.74	$13.75	$9.94	$13.80	$11.53	$15.79	$14.64	$17.00
WTW Dec	$3.04	$4.18	$5.27	$8.02	$7.65	$9.95	-	-	−$0.96	$16.26
HBAN Dec	$0.70	$1.00	$1.20	$1.27	$0.69	$0.90	$1.45	$1.24	$1.22	$1.39
BEN Sep	$2.94	$3.01	$1.39	$2.35	$1.59	$3.57	$2.53	$1.72	$0.85	$0.91
NDAQ Dec	$0.21	$1.43	$0.91	$1.54	$1.86	$2.35	$2.26	$2.08	$1.93	$3.09
CFG Dec	$1.97	$3.25	$3.52	$3.81	$2.22	$5.16	$4.10	$3.13	$3.03	$3.86
GPN Dec	$1.37	$3.01	$2.84	$2.16	$1.95	$3.29	$0.40	$3.77	$6.16	$5.78
NTRS Dec	$4.32	$4.92	$6.64	$6.63	$5.46	$7.14	$6.14	$5.08	$9.77	$8.74
FITB Dec	$1.91	$2.81	$3.06	$3.33	$1.83	$3.73	$3.35	$3.22	$3.14	$3.53
MCO Dec	$1.36	$5.15	$6.74	$7.42	$9.39	$11.78	$7.44	$8.73	$11.26	$13.67
Peer median	$1.91	$3.01	$3.06	$3.33	$1.95	$3.73	$2.94	$3.17	$3.03	$3.86

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out MTB and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on MTB in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MTB/export.csv") into a cell.