M&T Bank Corp.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $2.85B | $2.59B | $2.74B | $1.99B | $1.86B | $1.35B | $1.93B | $1.92B |
| Depreciation & Amortization | $323.0M | $316.0M | $304.0M | $282.0M | — | — | — | $104.9M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $42.0M | $53.0M | $62.0M | $56.0M | $10.0M | $14.9M | $19.5M | $24.5M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $3.00B | $3.61B | $3.91B | $4.57B | $2.72B | $789.2M | $2.36B | $2.09B |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | $256.0M | $214.0M | $149.0M | $172.0M | $178.0M | $98.0M |
| Business Acquisitions | — | $0 | $0 | $-394.0M | — | — | — | — |
| Net Cash from Investing Activities | $-6.82B | $-9.75B | $-4.76B | $16.59B | $-13.63B | $-22.02B | $727.0M | $-1.41B |
| Financing Activities | ||||||||
| Dividends Paid | $899.0M | $895.0M | $868.0M | $784.0M | $580.0M | $568.1M | $552.1M | $510.4M |
| Stock Repurchases | $2.63B | $396.0M | $594.0M | $1.80B | — | $373.8M | $1.35B | $2.19B |
| Net Cash from Financing Activities | $1.80B | $-2.88B | $4.18B | $-20.98B | $10.70B | $21.35B | $-3.25B | $-495.3M |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | — | — | $3.65B | $4.36B | $2.57B | $617.2M | $2.18B | $1.99B |
Price is what you pay. Value is what you get.