M&T Bank Corporation
MTBFinancial Statements
Income Statement (Annual)
Amounts in millions
2024
12/31/2024
Revenue
13,405
Cost of Revenue
4,784
Gross Profit
8,621
Gross Margin
64.3%
Operating Income
3,310
Operating Margin
24.7%
Net Income
2,588
Net Margin
19.3%
EPS (Basic)
$14.71
EPS (Diluted)
$14.64
EBITDA
3,818
EBITDA Margin
28.5%
2023
12/31/2023
Revenue
12,507
Cost of Revenue
3,754
Gross Profit
8,753
Gross Margin
70.0%
Operating Income
3,619
Operating Margin
28.9%
Net Income
2,741
Net Margin
21.9%
EPS (Basic)
$15.85
EPS (Diluted)
$15.79
EBITDA
4,116
EBITDA Margin
32.9%
2022
12/31/2022
Revenue
8,438
Cost of Revenue
942
Gross Profit
7,496
Gross Margin
88.8%
Operating Income
2,612
Operating Margin
31.0%
Net Income
1,992
Net Margin
23.6%
EPS (Basic)
$11.59
EPS (Diluted)
$11.53
EBITDA
3,047
EBITDA Margin
36.1%
2021
12/31/2021
Revenue
6,076
Cost of Revenue
39
Gross Profit
6,037
Gross Margin
99.4%
Operating Income
2,455
Operating Margin
40.4%
Net Income
1,859
Net Margin
30.6%
EPS (Basic)
$13.81
EPS (Diluted)
$13.80
EBITDA
2,779
EBITDA Margin
45.7%
2020
12/31/2020
Revenue
6,281
Cost of Revenue
1,126
Gross Profit
5,155
Gross Margin
82.1%
Operating Income
1,770
Operating Margin
28.2%
Net Income
1,353
Net Margin
21.5%
EPS (Basic)
$9.94
EPS (Diluted)
$9.94
EBITDA
2,090
EBITDA Margin
33.3%