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M & T BANK CORP (MTB) Stock Fundamental Analysis

NYSE:MTB - New York Stock Exchange, Inc. - US55261F1049 - Common Stock - Currency: USD

197.28  -5.77 (-2.84%)

After market: 196 -1.28 (-0.65%)

Fundamental Rating

3

MTB gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 394 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.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year MTB was profitable.
In the past year MTB had a positive cash flow from operations.
In the past 5 years MTB has always been profitable.
MTB had a positive operating cash flow in each of the past 5 years.
MTB Yearly Net Income VS EBIT VS OCF VS FCFMTB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

1.2 Ratios

With a decent Return On Assets value of 1.18%, MTB is doing good in the industry, outperforming 78.43% of the companies in the same industry.
MTB has a Return On Equity (8.59%) which is in line with its industry peers.
Industry RankSector Rank
ROA 1.18%
ROE 8.59%
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
MTB Yearly ROA, ROE, ROICMTB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

With a decent Profit Margin value of 26.71%, MTB is doing good in the industry, outperforming 69.29% of the companies in the same industry.
In the last couple of years the Profit Margin of MTB has declined.
MTB does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 26.71%
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
MTB Yearly Profit, Operating, Gross MarginsMTB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

MTB does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, MTB has less shares outstanding
Compared to 5 years ago, MTB has more shares outstanding
MTB has a worse debt/assets ratio than last year.
MTB Yearly Shares OutstandingMTB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
MTB Yearly Total Debt VS Total AssetsMTB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B

2.2 Solvency

MTB has a debt to FCF ratio of 3.52. This is a good value and a sign of high solvency as MTB would need 3.52 years to pay back of all of its debts.
MTB's Debt to FCF ratio of 3.52 is on the low side compared to the rest of the industry. MTB is outperformed by 65.74% of its industry peers.
MTB has a Debt/Equity ratio of 0.42. This is a healthy value indicating a solid balance between debt and equity.
MTB has a worse Debt to Equity ratio (0.42) than 76.40% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 3.52
Altman-Z N/A
ROIC/WACCN/A
WACC13.7%
MTB Yearly LT Debt VS Equity VS FCFMTB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MTB Yearly Current Assets VS Current LiabilitesMTB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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3

3. Growth

3.1 Past

MTB shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.52%.
Measured over the past 5 years, MTB shows a small growth in Earnings Per Share. The EPS has been growing by 1.97% on average per year.
MTB shows a decrease in Revenue. In the last year, the revenue decreased by -1.82%.
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)-9.52%
EPS 3Y3.73%
EPS 5Y1.97%
EPS Q2Q%-13.99%
Revenue 1Y (TTM)-1.82%
Revenue growth 3Y15.7%
Revenue growth 5Y8.43%
Sales Q2Q%16%

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 Y4.08%
EPS Next 2Y9.46%
EPS Next 3Y9.18%
EPS Next 5Y-0.52%
Revenue Next Year3.62%
Revenue Next 2Y3.94%
Revenue Next 3Y3.57%
Revenue Next 5Y2.1%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MTB Yearly Revenue VS EstimatesMTB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B 10B
MTB Yearly EPS VS EstimatesMTB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5 10 15 20

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4

4. Valuation

4.1 Price/Earnings Ratio

MTB is valuated correctly with a Price/Earnings ratio of 13.21.
MTB's Price/Earnings is on the same level as the industry average.
The average S&P500 Price/Earnings ratio is at 27.19. MTB is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 10.64, the valuation of MTB can be described as very reasonable.
The rest of the industry has a similar Price/Forward Earnings ratio as MTB.
MTB is valuated cheaply when we compare the Price/Forward Earnings ratio to 35.33, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.21
Fwd PE 10.64
MTB Price Earnings VS Forward Price EarningsMTB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

69.80% of the companies in the same industry are more expensive than MTB, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 9.23
EV/EBITDA N/A
MTB Per share dataMTB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)3.24
PEG (5Y)6.7
EPS Next 2Y9.46%
EPS Next 3Y9.18%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.65%, MTB has a reasonable but not impressive dividend return.
MTB's Dividend Yield is comparable with the industry average which is at 3.31.
Compared to an average S&P500 Dividend Yield of 2.35, MTB has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.65%

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
MTB Yearly Dividends per shareMTB Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4 5

5.3 Sustainability

41.91% of the earnings are spent on dividend by MTB. This is a bit on the high side, but may be sustainable.
DP41.91%
EPS Next 2Y9.46%
EPS Next 3Y9.18%
MTB Yearly Income VS Free CF VS DividendMTB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
MTB Dividend Payout.MTB Dividend Payout, showing the Payout Ratio.MTB Dividend Payout.PayoutRetained Earnings

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M & T BANK CORP

NYSE:MTB (7/15/2025, 8:05:37 PM)

After market: 196 -1.28 (-0.65%)

197.28

-5.77 (-2.84%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-14 2025-04-14/bmo
Earnings (Next)07-16 2025-07-16/bmo
Inst Owners88.79%
Inst Owner Change0%
Ins Owners0.31%
Ins Owner Change1.55%
Market Cap31.67B
Analysts77.6
Price Target207.29 (5.07%)
Short Float %2.4%
Short Ratio3.35
Dividend
Industry RankSector Rank
Dividend Yield 2.65%
Yearly Dividend6.23
Dividend Growth(5Y)6.23%
DP41.91%
Div Incr Years8
Div Non Decr Years26
Ex-Date06-02 2025-06-02 (1.35)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.41%
Min EPS beat(2)-3.31%
Max EPS beat(2)2.48%
EPS beat(4)3
Avg EPS beat(4)3.5%
Min EPS beat(4)-3.31%
Max EPS beat(4)9.39%
EPS beat(8)7
Avg EPS beat(8)8.22%
EPS beat(12)7
Avg EPS beat(12)-0.47%
EPS beat(16)10
Avg EPS beat(16)1.57%
Revenue beat(2)1
Avg Revenue beat(2)-0.82%
Min Revenue beat(2)-2.58%
Max Revenue beat(2)0.93%
Revenue beat(4)2
Avg Revenue beat(4)-0.5%
Min Revenue beat(4)-2.58%
Max Revenue beat(4)0.93%
Revenue beat(8)3
Avg Revenue beat(8)-2.42%
Revenue beat(12)5
Avg Revenue beat(12)-1.86%
Revenue beat(16)6
Avg Revenue beat(16)-1.75%
PT rev (1m)1.55%
PT rev (3m)-5.9%
EPS NQ rev (1m)0.18%
EPS NQ rev (3m)-1.95%
EPS NY rev (1m)-0.41%
EPS NY rev (3m)-2.56%
Revenue NQ rev (1m)0.12%
Revenue NQ rev (3m)-0.37%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)-0.52%
Valuation
Industry RankSector Rank
PE 13.21
Fwd PE 10.64
P/S 3.4
P/FCF 9.23
P/OCF 8.71
P/B 1.09
P/tB 1.55
EV/EBITDA N/A
EPS(TTM)14.93
EY7.57%
EPS(NY)18.53
Fwd EY9.4%
FCF(TTM)21.37
FCFY10.83%
OCF(TTM)22.66
OCFY11.48%
SpS58.09
BVpS180.61
TBVpS127.29
PEG (NY)3.24
PEG (5Y)6.7
Profitability
Industry RankSector Rank
ROA 1.18%
ROE 8.59%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.71%
GM N/A
FCFM 36.79%
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-Score9
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 3.52
Debt/EBITDA N/A
Cap/Depr 55.68%
Cap/Sales 2.21%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 137.74%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score9
WACC13.7%
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)-9.52%
EPS 3Y3.73%
EPS 5Y1.97%
EPS Q2Q%-13.99%
EPS Next Y4.08%
EPS Next 2Y9.46%
EPS Next 3Y9.18%
EPS Next 5Y-0.52%
Revenue 1Y (TTM)-1.82%
Revenue growth 3Y15.7%
Revenue growth 5Y8.43%
Sales Q2Q%16%
Revenue Next Year3.62%
Revenue Next 2Y3.94%
Revenue Next 3Y3.57%
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-0.95%
FCF growth 3Y9.77%
FCF growth 5Y9.26%
OCF growth 1Y-1.86%
OCF growth 3Y9.96%
OCF growth 5Y8.9%