M&T BANK CORP

MTB

Quality scores

Data as of Sep 5, 2026

7 / 9

Strong

7/9 — SOLID fundamentals (high quality).

PassROA > 0 — ROA last year = 1.34 %
PassFCF > 0 — FCF last year = 2,860.00 mill.
PassFCF > net income (accrual quality) — FCF 2,860.00 vs. net income 2,851.00 (mill.)
PassRising ROA — ROA 1.34 % vs. prior year 1.24 %

PassLower long-term leverage — long-term debt/assets 0.05 vs. prior 0.06
FailRising current ratio (more liquidity) — Working capital (approx.) — mill. vs. prior — mill.
PassNo dilution (shares do not grow) — Shares 151.83 mill. vs. prior 165.51 mill.

Test 6: no current assets/liabilities; approximated with the working-capital trend.

Z-Score (original)

—

Not applicable

Z''-Score (non-manufacturing)

—

Not applicable

Ratio	Value
X1 — Working capital / Total assets	—
X2 — Retained earnings / Total assets	0.10
X3 — EBIT / Total assets	—
X4 — Market cap / Total liabilities	0.18
X4 — Book equity / Total liabilities	0.16
X5 — Sales / Total assets	0.05