M&T Bank CorporationMTB
NYSE•Financial Services•Banks - Regional
M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management. It offers a range of credit products and banking services, such as commercial lending and leasing, letters of credits, deposit products, cash management services, commercial real estate loans, and credit facilities secured by various commercial real estate properties to middle-market and large commercial customers. The company also provides customers deposit products, including demand, savings and time accounts, and other services; automobile and recreational finance loans, home equity loans and lines of credit, credit cards, and other loan products, as well as residential mortgage and real estate loans; business loans, cash management, payroll, direct deposit, and merchant credit card services to consumers and small businesses through branch network, telephone banking, internet banking, and automated teller machines. In addition, it offers trustee, agency, investment management, and administrative services; personal trust, planning and advisory, fiduciary, asset management, family office, and other services; and investment products, including mutual funds and annuities, and other services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.
M&T Bank Corporation (MTB) reported trailing twelve months revenue of $6.49B as of March 2026, a 2.6% increase year-over-year. Quarterly revenue reached $1.61B, reflecting continued top-line momentum.
M&T Bank Corporation generated $2.93B in TTM net income, with quarterly EBITDA of $863.00M. The operating margin expanded from 48.6% to 53.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (53.5%) and net margin (41.2%) indicates moderate non-operating costs. Net margin has improved from 37.3% a year ago, signaling stronger bottom-line efficiency.
MTB trades at a P/E of 10.2x (below the broader market average) and a P/S of 4.6x. The price-to-book ratio of 1.1x reflects a moderate premium to book value.
The company generated $1.01B in free cash flow over the trailing twelve months, a 59.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $214.74B in total assets with $11.18B in long-term debt against $27.97B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~56.1%, suggesting durable pricing power and cost discipline.
ROE is positive at ~9.2% on average, adequate but below the threshold typically associated with wide moats.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~5.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~58.4% — no sign of cost or pricing stress.
FCF covers net income by 1.3x on average — earnings are well-supported by cash generation.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 10.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation