MTB Fundamental Analysis - M & T BANK CORP

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to MTB. MTB was compared to 392 industry peers in the Banks industry. MTB has a bad profitability rating. Also its financial health evaluation is rather negative. MTB has a valuation in line with the averages, but it does not seem to be growing. MTB also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

MTB had positive earnings in the past year.

MTB had a positive operating cash flow in the past year.

MTB had positive earnings in each of the past 5 years.

Each year in the past 5 years MTB had a positive operating cash flow.

1.2 Ratios

MTB has a better Return On Assets (1.20%) than 78.32% of its industry peers.

MTB's Return On Equity of 8.92% is in line compared to the rest of the industry. MTB outperforms 55.36% of its industry peers.

		Industry Rank	Sector Rank
ROA	1.2%
ROE	8.92%
ROIC	N/A

ROA(3y)1.13%

ROA(5y)1.09%

ROE(3y)8.56%

ROE(5y)8.7%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

MTB has a better Profit Margin (27.01%) than 69.13% of its industry peers.

MTB's Profit Margin has declined in the last couple of years.

MTB does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	27.01%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-3.81%

PM growth 5Y-2.44%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MTB does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for MTB has been reduced compared to 1 year ago.

MTB has more shares outstanding than it did 5 years ago.

The debt/assets ratio for MTB is higher compared to a year ago.

2.2 Solvency

The Debt to FCF ratio of MTB is 4.88, which is a neutral value as it means it would take MTB, 4.88 years of fcf income to pay off all of its debts.

With a Debt to FCF ratio value of 4.88, MTB is not doing good in the industry: 67.35% of the companies in the same industry are doing better.

MTB has a Debt/Equity ratio of 0.51. This is a neutral value indicating MTB is somewhat dependend on debt financing.

MTB's Debt to Equity ratio of 0.51 is on the low side compared to the rest of the industry. MTB is outperformed by 76.79% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.51
Debt/FCF	4.88
Altman-Z	N/A

ROIC/WACCN/A

WACC13.65%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 1.71% over the past year.

The Earnings Per Share has been growing slightly by 1.97% on average over the past years.

Looking at the last year, MTB shows a small growth in Revenue. The Revenue has grown by 2.41% in the last year.

Measured over the past years, MTB shows a quite strong growth in Revenue. The Revenue has been growing by 8.43% on average per year.

EPS 1Y (TTM)1.71%

EPS 3Y3.73%

EPS 5Y1.97%

EPS Q2Q%13.67%

Revenue 1Y (TTM)2.41%

Revenue growth 3Y15.7%

Revenue growth 5Y8.43%

Sales Q2Q%4.08%

3.2 Future

The Earnings Per Share is expected to decrease by -0.52% on average over the next years.

The Revenue is expected to grow by 2.10% on average over the next years.

EPS Next Y7.72%

EPS Next 2Y10.74%

EPS Next 3Y10.8%

EPS Next 5Y-0.52%

Revenue Next Year3.81%

Revenue Next 2Y3.99%

Revenue Next 3Y3.81%

Revenue Next 5Y2.1%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 13.08, the valuation of MTB can be described as correct.

MTB's Price/Earnings is on the same level as the industry average.

When comparing the Price/Earnings ratio of MTB to the average of the S&P500 Index (27.38), we can say MTB is valued rather cheaply.

The Price/Forward Earnings ratio is 10.65, which indicates a very decent valuation of MTB.

MTB's Price/Forward Earnings ratio is in line with the industry average.

MTB is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.86, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	13.08
Fwd PE	10.65

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, MTB is valued a bit cheaper than 64.54% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	10.66
EV/EBITDA	N/A

4.3 Compensation for Growth

MTB's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.

PEG (NY)1.69

PEG (5Y)6.63

EPS Next 2Y10.74%

EPS Next 3Y10.8%

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5. Dividend

5.1 Amount

MTB has a Yearly Dividend Yield of 5.62%, which is a nice return.

Compared to an average industry Dividend Yield of 3.47, MTB pays a better dividend. On top of this MTB pays more dividend than 87.76% of the companies listed in the same industry.

Compared to an average S&P500 Dividend Yield of 2.38, MTB pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	5.62%

5.2 History

The dividend of MTB is nicely growing with an annual growth rate of 6.23%!

MTB has been paying a dividend for at least 10 years, so it has a reliable track record.

MTB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.

Dividend Growth(5Y)6.23%

Div Incr Years8

Div Non Decr Years26

5.3 Sustainability

MTB pays out 40.80% of its income as dividend. This is a bit on the high side, but may be sustainable.

DP40.8%

EPS Next 2Y10.74%

EPS Next 3Y10.8%

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M & T BANK CORP

NYSE:MTB (9/19/2025, 8:04:00 PM)

After market: 195 -7.02 (-3.47%)

202.02

+1.59 (+0.79%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-16 2025-07-16/bmo

Earnings (Next)10-16 2025-10-16/bmo

Inst Owners91.01%

Inst Owner Change-3.27%

Ins Owners0.32%

Ins Owner Change0.09%

Market Cap31.57B

Analysts77.5

Price Target224.97 (11.36%)

Short Float %2.74%

Short Ratio4.38

Dividend

		Industry Rank	Sector Rank
Dividend Yield	5.62%

Yearly Dividend6.23

Dividend Growth(5Y)6.23%

DP40.8%

Div Incr Years8

Div Non Decr Years26

Ex-Date09-02 2025-09-02 (1.5)

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)0.91%

Min EPS beat(2)-3.31%

Max EPS beat(2)5.13%

EPS beat(4)3

Avg EPS beat(4)3.42%

Min EPS beat(4)-3.31%

Max EPS beat(4)9.39%

EPS beat(8)7

Avg EPS beat(8)5.89%

EPS beat(12)8

Avg EPS beat(12)4.64%

EPS beat(16)11

Avg EPS beat(16)2.31%

Revenue beat(2)0

Avg Revenue beat(2)-1.62%

Min Revenue beat(2)-2.58%

Max Revenue beat(2)-0.66%

Revenue beat(4)1

Avg Revenue beat(4)-0.68%

Min Revenue beat(4)-2.58%

Max Revenue beat(4)0.93%

Revenue beat(8)2

Avg Revenue beat(8)-3.47%

Revenue beat(12)5

Avg Revenue beat(12)-1.54%

Revenue beat(16)6

Avg Revenue beat(16)-1.58%

PT rev (1m)0.93%

PT rev (3m)8.53%

EPS NQ rev (1m)0.02%

EPS NQ rev (3m)2.67%

EPS NY rev (1m)0%

EPS NY rev (3m)3.65%

Revenue NQ rev (1m)-0.28%

Revenue NQ rev (3m)-0.04%

Revenue NY rev (1m)-0.03%

Revenue NY rev (3m)0.23%

Valuation

		Industry Rank	Sector Rank
PE	13.08
Fwd PE	10.65
P/S	3.35
P/FCF	10.66
P/OCF	10.1
P/B	1.11
P/tB	1.58
EV/EBITDA	N/A

EPS(TTM)15.44

EY7.64%

EPS(NY)18.97

Fwd EY9.39%

FCF(TTM)18.95

FCFY9.38%

OCF(TTM)20.01

OCFY9.91%

SpS60.27

BVpS182.54

TBVpS127.83

PEG (NY)1.69

PEG (5Y)6.63

Profitability

		Industry Rank	Sector Rank
ROA	1.2%
ROE	8.92%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	27.01%
GM	N/A
FCFM	31.44%

ROA(3y)1.13%

ROA(5y)1.09%

ROE(3y)8.56%

ROE(5y)8.7%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-3.81%

PM growth 5Y-2.44%

GM growth 3YN/A

GM growth 5YN/A

F-Score7

Asset Turnover0.04

Health

		Industry Rank	Sector Rank
Debt/Equity	0.51
Debt/FCF	4.88
Debt/EBITDA	N/A
Cap/Depr	45.11%
Cap/Sales	1.76%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	116.39%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score7

WACC13.65%

ROIC/WACCN/A

Cap/Depr(3y)63.99%

Cap/Depr(5y)65.76%

Cap/Sales(3y)2.53%

Cap/Sales(5y)2.6%

Profit Quality(3y)169.16%

Profit Quality(5y)140.02%

High Growth Momentum

Growth

EPS 1Y (TTM)1.71%

EPS 3Y3.73%

EPS 5Y1.97%

EPS Q2Q%13.67%

EPS Next Y7.72%

EPS Next 2Y10.74%

EPS Next 3Y10.8%

EPS Next 5Y-0.52%

Revenue 1Y (TTM)2.41%

Revenue growth 3Y15.7%

Revenue growth 5Y8.43%

Sales Q2Q%4.08%

Revenue Next Year3.81%

Revenue Next 2Y3.99%

Revenue Next 3Y3.81%

Revenue Next 5Y2.1%

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year22.05%

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-16.54%

FCF growth 3Y9.77%

FCF growth 5Y9.26%

OCF growth 1Y-17.18%

OCF growth 3Y9.96%

OCF growth 5Y8.9%

M & T BANK CORP (MTB) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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