Last 47 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
M&T Bank Corporation's quarterly P/E stands at 10.8x, down 11.4% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 10.8% YoY to 6.7x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.24 | 10.79 | 10.25 | 11.44 | 13.46 | 12.18 | 11.08 | 10.14 | 12.04 | 12.51 | 7.94 | 6.13 | 7.45 |
| — | -11.4% | -7.5% | +12.7% | +11.8% | -2.6% | +39.5% | +65.6% | +61.5% | +48.0% | -36.4% | -83.4% | -53.9% | |
| P/S Ratio | 2.86 | 2.37 | 3.08 | 2.36 | 2.33 | 2.35 | 2.20 | 1.88 | 1.84 | 1.73 | 1.65 | 1.55 | 1.74 |
| — | +0.7% | +39.9% | +25.3% | +26.3% | +35.6% | +33.8% | +21.3% | +5.8% | -23.6% | -50.2% | -55.6% | -53.4% | |
| P/B Ratio | 1.21 | 1.08 | 1.08 | 1.09 | 1.02 | 1.08 | 1.03 | 0.89 | 0.89 | 0.85 | 0.80 | 0.80 | 0.79 |
| — | -0.0% | +4.2% | +21.9% | +13.8% | +27.6% | +28.6% | +11.9% | +12.7% | -14.0% | -34.4% | -27.6% | -35.3% | |
| P/FCF | 12.32 | 16.89 | 7.35 | 9.49 | 12.09 | 4.93 | — | 4.93 | 10.60 | 8.02 | 3.89 | 4.25 | 13.50 |
| — | +242.3% | — | +92.6% | +14.0% | -38.5% | — | +15.9% | -21.4% | +11.2% | -44.8% | -32.6% | +212.0% | |
| EV / EBITDA | 7.47 | 6.65 | 6.58 | 5.68 | 5.28 | 6.00 | 4.22 | 3.79 | 2.11 | 2.18 | 0.73 | 1.35 | 2.52 |
| — | +10.8% | +55.8% | +49.9% | +149.9% | +175.8% | +477.0% | +180.0% | -16.2% | +60.9% | -63.0% | +184.2% | +146.9% | |
| EV / EBIT | 8.00 | 6.65 | 6.64 | 6.43 | 6.18 | 6.88 | 4.79 | 4.35 | 2.53 | 2.63 | 0.84 | 1.50 | 2.83 |
| — | -3.3% | +38.7% | +47.8% | +144.7% | +162.0% | +472.4% | +190.3% | -10.7% | +76.5% | -63.2% | +164.7% | +144.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
M&T Bank Corporation's operating margin was 29.1% in Q4 2025, down 11.7 pp QoQ and up 2.7 pp YoY. The trailing four-quarter average of 30.6% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 6.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.6% | 70.5% | 95.0% | 69.0% | 68.6% | 66.5% | 65.2% | 63.8% | 61.7% | 62.3% | 68.3% | 73.9% | 78.3% |
| — | +6.0% | +45.7% | +8.1% | +11.3% | +6.7% | -4.4% | -13.6% | -21.2% | -21.2% | -24.7% | -21.8% | -19.9% | |
| Operating Margin | 30.0% | 29.1% | 40.8% | 28.4% | 24.0% | 26.4% | 26.8% | 25.3% | 20.1% | 19.0% | 28.3% | 34.9% | 32.0% |
| — | +10.4% | +52.2% | +12.0% | +19.3% | +39.2% | -5.4% | -27.4% | -37.1% | -48.3% | -21.6% | +156.1% | -1.1% | |
| Net Margin | 23.2% | 22.8% | 31.5% | 21.7% | 18.4% | 20.4% | 21.3% | 19.4% | 16.1% | 14.6% | 21.6% | 26.1% | 24.3% |
| — | +11.7% | +48.2% | +12.0% | +14.5% | +39.4% | -1.4% | -25.7% | -33.7% | -47.4% | -21.8% | +144.5% | -1.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.8% | 2.6% | 2.8% | 2.5% | 2.0% | 2.4% | 2.5% | 2.4% | 2.0% | 1.8% | 2.7% | 3.4% | 2.8% |
| — | +11.4% | +9.9% | +5.7% | +2.6% | +29.6% | -5.2% | -30.5% | -29.2% | -40.0% | +4.8% | +240.1% | +36.8% | |
| ROA | 1.4% | 0.4% | 0.4% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.4% | 0.3% |
| — | +10.2% | +9.3% | +9.8% | +11.3% | +40.3% | +3.5% | -26.8% | -27.9% | -39.8% | +2.9% | +243.6% | +46.4% | |
| ROIC | 6.5% | 1.7% | 1.8% | 1.7% | 1.4% | 1.5% | 1.6% | 1.5% | 1.2% | 1.2% | 1.7% | 2.1% | 1.9% |
| — | +9.8% | +13.9% | +14.4% | +14.8% | +32.4% | -7.1% | -32.1% | -37.9% | -52.0% | -21.5% | +164.5% | +14.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
M&T Bank Corporation's Debt/EBITDA ratio is 13.5x, down from 14.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 46.7% YoY to 0.32x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.52 | 0.51 | 0.42 | 0.47 | 0.49 | 0.57 | 0.60 | 0.50 | 0.53 | 0.59 | 0.57 |
| — | -4.9% | +6.2% | -10.5% | -30.4% | -6.1% | -7.1% | -4.7% | +4.9% | +68.8% | +205.2% | +270.4% | +191.5% | |
| Debt / EBITDA | 3.30 | 13.45 | 14.48 | 13.65 | 13.55 | 13.52 | 13.76 | 16.38 | 20.46 | 17.90 | 13.36 | 11.93 | 13.92 |
| — | -0.5% | +5.2% | -16.7% | -33.8% | -24.5% | +3.0% | +37.2% | +47.0% | +164.7% | +197.5% | +15.4% | +122.5% | |
| Current Ratio | 0.32 | 0.32 | 0.23 | 0.34 | 0.23 | 0.22 | 0.23 | 0.22 | 0.24 | 0.25 | 0.28 | 0.26 | 0.22 |
| — | +46.7% | -2.4% | +54.8% | -4.8% | -12.6% | -14.7% | -13.4% | +8.6% | +7.1% | +16.6% | -6.0% | -38.8% | |
| Quick Ratio | 0.32 | 0.32 | 0.23 | 0.34 | 0.23 | 0.22 | 0.23 | 0.22 | 0.24 | 0.25 | 0.28 | 0.26 | 0.22 |
| — | +46.7% | -2.4% | +54.8% | -4.8% | -12.6% | -14.7% | -13.4% | +8.6% | +7.1% | +16.6% | -6.0% | -38.8% | |
| Interest Coverage | 1.04 | 1.13 | 1.12 | 1.04 | 0.88 | 0.90 | 0.86 | 0.80 | 0.62 | 0.61 | 1.05 | 1.62 | 1.82 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying MTB stock.
M&T Bank Corporation's current P/E is 13.2x. The average P/E over the last 4 quarters is 11.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
M&T Bank Corporation's current operating margin is 30.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking M&T Bank Corporation's business trajectory between earnings reports.