M&T BANK CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.66B | $1.54B | $9.64B | $8.18B | $5.99B | $5.95B | $6.19B | $5.93B |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $3.69B | $3.31B | $6.73B | $3.04B | $2.57B | $2.10B | $3.30B | $3.03B |
| Operating Margin | 222.8% | 214.8% | 69.8% | 37.1% | 42.9% | 35.2% | 53.2% | 51.2% |
| Interest Expense | — | — | $3.11B | $425.0M | $114.0M | $326.4M | $749.3M | $526.4M |
| Pretax Income | $3.69B | $3.31B | $3.62B | $2.61B | $2.46B | $1.77B | $2.55B | $2.51B |
| Income Tax Expense | $841.0M | $722.0M | $878.0M | $620.0M | $596.0M | $416.4M | $618.1M | $590.2M |
| Net Income | $2.85B | $2.59B | $2.74B | $1.99B | $1.86B | $1.35B | $1.93B | $1.92B |
| Net Margin | 172.1% | 167.9% | 28.4% | 24.4% | 31.0% | 22.7% | 31.2% | 32.4% |
| EPS (Basic) | $17.10 | $14.71 | $15.85 | $11.59 | $13.81 | $9.94 | $13.76 | $12.75 |
| EPS (Diluted) | $17.00 | $14.64 | $15.79 | $11.53 | $13.80 | $9.94 | $13.75 | $12.74 |
| Shares Outstanding (Basic) | 157.9M | 166.5M | 166.4M | 163.2M | 128.6M | 128.6M | 134.4M | 144.0M |
| Shares Outstanding (Diluted) | 158.8M | 167.3M | 167.0M | 164.0M | 128.8M | 128.7M | 134.5M | 144.2M |
| Dividends Per Share | $5.70 | $5.35 | $5.20 | $4.80 | — | — | — | — |