NYSE : BMO
Bank of Montreal — Financial statements
Financials · Banks - Diversified · Canada
Last price 171.13 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 119.12B
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Financial statements
Income statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 37.05B | 38.75B | 40.07B | 34.31B | 20.46B | 15.73B |
| Interest Income on Investments | 24.43B | 24.79B | 25.92B | 21.26B | 6.43B | 4.16B |
| Total Interest Income | 61.48B | 63.54B | 65.98B | 55.57B | 26.90B | 19.89B |
| Interest Paid on Deposits | 25.25B | 29.25B | 34.58B | 26.55B | 6.71B | 3.22B |
| Interest Paid on Borrowings | 14.26B | 12.79B | 11.94B | 10.35B | 4.30B | 2.36B |
| Total Interest Expense | 39.51B | 42.05B | 46.52B | 36.89B | 11.01B | 5.58B |
| Net Interest Income | 21.97B | 21.49B | 19.47B | 18.68B | 15.88B | 14.31B |
| Trust Income | 2.71B | 2.34B | 2.06B | 1.85B | 1.77B | 1.98B |
| Income From Trading Activities | 3.16B | 2.58B | 2.38B | -216.00M | 8.25B | 296.00M |
| Gain (Loss) on Sale of Assets | -8.00M | -78.00M | ||||
| Gain (Loss) on Sale of Investments | 338.00M | 287.00M | 200.00M | 180.00M | 281.00M | 591.00M |
| Gain (Loss) on Sale of Equity Investments | 212.00M | 175.00M | 207.00M | 185.00M | 274.00M | 248.00M |
| Other Non-Interest Income | 8.43B | 7.61B | 6.86B | 7.06B | 5.92B | 8.49B |
| Total Non-Interest Income | 16.65B | 14.79B | 13.33B | 10.58B | 17.81B | 12.77B |
| Revenues Before Loan Losses | 38.63B | 36.27B | 32.80B | 29.26B | 33.69B | 27.08B |
| Provision for Loan Losses | 2.96B | 3.62B | 3.76B | 2.18B | 313.00M | 20.00M |
| Revenue | 35.67B | 32.66B | 29.03B | 27.08B | 33.38B | 27.06B |
| Salaries and Employee Benefits | 10.93B | 10.17B | 9.63B | 10.86B | 8.04B | 6.75B |
| Occupancy Expenses | 4.70B | 4.47B | 4.12B | 4.87B | 3.63B | 3.40B |
| Amortization of Goodwill & Intangibles | 1.18B | 1.15B | 1.11B | 1.01B | 604.00M | 634.00M |
| Selling, General & Administrative | 4.07B | 3.98B | 3.37B | 2.91B | 2.34B | 2.84B |
| Other Non-Interest Expense | 2.44B | 1.34B | 1.27B | 1.48B | 878.00M | 2.40B |
| Total Non-Interest Expense | 23.32B | 21.11B | 19.50B | 21.13B | 15.49B | 16.02B |
| EBT Excluding Unusual Items | 12.35B | 11.55B | 9.54B | 5.95B | 17.89B | 11.04B |
| Pretax Income | 12.35B | 11.55B | 9.54B | 5.95B | 17.89B | 10.26B |
| Income Tax Expense | 3.19B | 2.83B | 2.21B | 1.51B | 4.35B | 2.50B |
| Earnings From Continuing Operations | 9.16B | 8.72B | 7.33B | 4.44B | 13.54B | 7.75B |
| Minority Interest in Earnings | -12.00M | -16.00M | -9.00M | -12.00M | ||
| Net Income | 9.15B | 8.71B | 7.32B | 4.42B | 13.54B | 7.75B |
| Preferred Dividends & Other Adjustments | 464.00M | 436.00M | 386.00M | 331.00M | 231.00M | 244.00M |
| Net Income to Common | 8.69B | 8.27B | 6.93B | 4.09B | 13.31B | 7.51B |
| Basic Shares Outstanding | 705.93M | 721.93M | 727.74M | 709.36M | 663.99M | 647.16M |
| Diluted Shares Outstanding | 707.82M | 723.27M | 728.53M | 710.51M | 665.71M | 648.68M |
| EPS (Basic) | 12.31 | 11.46 | 9.53 | 5.77 | 20.04 | 11.60 |
| EPS (Diluted) | 12.27 | 11.44 | 9.51 | 5.76 | 19.99 | 11.58 |
| Dividend Per Share | 6.68 | 6.44 | 6.12 | 5.80 | 5.44 | 4.24 |
| Effective Tax Rate | 25.79% | 24.46% | 23.16% | 25.39% | 24.32% | 24.41% |
Balance sheet
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 74.03B | 67.38B | 65.02B | 77.81B | 87.38B | 93.15B |
| Investment Securities | 300.81B | 300.42B | 280.14B | 254.22B | 243.72B | 203.42B |
| Trading Asset Securities | 272.81B | 249.45B | 216.18B | 163.69B | 156.34B | 141.12B |
| Mortgage-Backed Securities | 65.22B | 64.80B | 64.09B | 63.37B | 40.29B | 40.70B |
| Total Investments | 638.84B | 614.67B | 560.41B | 481.29B | 440.35B | 385.25B |
| Gross Loans | 701.74B | 682.21B | 682.37B | 660.47B | 554.27B | 461.18B |
| Allowance for Loan Losses | -5.25B | -5.05B | -4.36B | -3.81B | -2.62B | -2.56B |
| Net Loans | 696.50B | 677.16B | 678.02B | 656.66B | 551.65B | 458.62B |
| Property, Plant & Equipment | 6.33B | 6.28B | 6.32B | 6.37B | 5.10B | 4.87B |
| Goodwill | 16.09B | 16.80B | 16.77B | 16.73B | 5.29B | 5.38B |
| Other Intangible Assets | 5.16B | 4.76B | 4.92B | 5.22B | 2.19B | 2.27B |
| Accrued Interest Receivable | 4.48B | 4.46B | 4.10B | 2.73B | 1.45B | |
| Other Receivables | 47.89B | 56.28B | 43.72B | 64.93B | 7.63B | 6.96B |
| Restricted Cash | 61.00M | 11.26B | 9.50B | 10.06B | 13.67B | 6.55B |
| Other Current Assets | 1.43B | 7.09B | 9.84B | 12.81B | 16.20B | 17.31B |
| Long-Term Deferred Tax Assets | 3.16B | 2.73B | 3.02B | 3.42B | 1.18B | 1.29B |
| Other Real Estate Owned & Foreclosed | 11.00M | |||||
| Other Long-Term Assets | 47.84B | 7.92B | 7.65B | 7.61B | 5.83B | 5.08B |
| Total Assets | 1.54T | 1.48T | 1.41T | 1.35T | 1.14T | 988.17B |
| Accounts Payable | 12.64B | 11.31B | 12.00B | 11.21B | 9.44B | |
| Accrued Expenses | 50.95B | 46.66B | 35.87B | 55.19B | 14.61B | 12.85B |
| Interest Bearing Deposits | 407.42B | 450.04B | 493.03B | 444.00B | 383.01B | 411.98B |
| Institutional Deposits | 405.11B | 376.26B | 410.95B | 385.59B | 315.26B | 236.32B |
| Non-Interest Bearing Deposits | 131.46B | 82.23B | ||||
| Total Deposits | 944.00B | 908.53B | 903.98B | 829.60B | 698.26B | 648.30B |
| Short-Term Borrowings | 69.60B | 102.35B | 109.80B | 103.08B | 102.09B | 44.65B |
| Current Portion of Long-Term Debt | 148.83B | 113.42B | 109.57B | 110.55B | 101.97B | |
| Current Portion of Leases | 468.00M | |||||
| Current Income Taxes Payable | 329.00M | 470.00M | 44.00M | 425.00M | 221.00M | |
| Accrued Interest Payable | 5.09B | 6.47B | 5.30B | 2.32B | 960.00M | |
| Other Current Liabilities | 53.31B | 64.73B | 42.63B | 58.99B | 59.64B | 53.22B |
| Long-Term Debt | 269.23B | 70.25B | 72.87B | 60.26B | 57.71B | 51.45B |
| Long-Term Leases | 2.85B | 3.33B | 3.51B | 2.83B | 2.74B | |
| Pension & Post-Retirement Benefits | 1.05B | 1.05B | 1.00B | 920.00M | 1.23B | |
| Long-Term Deferred Tax Liabilities | 1.00M | 1.00M | 16.00M | 102.00M | 192.00M | |
| Other Long-Term Liabilities | 65.03B | 24.93B | 24.16B | 32.34B | 7.49B | 3.41B |
| Total Liabilities | 1.45T | 1.39T | 1.33T | 1.27T | 1.07T | 930.65B |
| Preferred Stock, Convertible | 1.55B | 1.55B | 2.05B | 3.30B | 2.65B | 3.65B |
| Total Preferred Equity | 1.55B | 1.55B | 2.05B | 3.30B | 2.65B | 3.65B |
| Common Stock | 23.47B | 23.36B | 23.92B | 22.94B | 17.74B | 13.60B |
| Additional Paid-In Capital | 403.00M | 373.00M | 354.00M | 328.00M | 317.00M | 313.00M |
| Retained Earnings | 47.73B | 47.38B | 46.47B | 44.01B | 45.12B | 35.50B |
| Comprehensive Income & Other | 13.36B | 15.39B | 11.46B | 5.52B | 5.21B | 4.46B |
| Total Common Equity | 84.97B | 86.50B | 82.20B | 72.80B | 68.39B | 53.87B |
| Minority Interest | 50.00M | 49.00M | 36.00M | 28.00M | ||
| Shareholders' Equity | 86.57B | 88.10B | 84.29B | 76.12B | 71.04B | 57.52B |
| Total Liabilities & Equity | 1.54T | 1.48T | 1.41T | 1.35T | 1.14T | 988.17B |
| Total Debt | 338.82B | 324.74B | 299.42B | 276.41B | 273.19B | 200.82B |
| Net Cash (Debt) | 120.23B | 124.35B | 96.33B | 84.86B | 89.46B | 149.14B |
| Net Cash Per Share | 169.87 | 171.92 | 132.22 | 119.44 | 134.38 | 229.91 |
| Filing Date Shares Outstanding | 697.15M | 708.91M | 729.53M | 720.91M | 677.11M | 648.14M |
| Total Common Shares Outstanding | 697.15M | 708.91M | 729.53M | 720.91M | 677.11M | 648.14M |
| Book Value Per Share | 121.89 | 122.02 | 112.68 | 100.98 | 101.00 | 83.12 |
| Tangible Book Value | 63.73B | 64.95B | 60.50B | 50.85B | 60.91B | 46.23B |
| Tangible Book Value Per Share | 91.41 | 91.61 | 82.93 | 70.54 | 89.96 | 71.33 |
Cash flow statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 9.15B | 8.71B | 7.32B | 4.42B | 13.54B | 7.75B |
| Depreciation & Amortization | 1.48B | 1.44B | 1.43B | 1.45B | 924.00M | 1.03B |
| Other Amortization | 739.00M | 739.00M | 676.00M | 646.00M | 556.00M | 530.00M |
| Gain (Loss) on Sale of Assets | 1.10B | 29.00M | ||||
| Gain (Loss) on Sale of Investments | -338.00M | -287.00M | -200.00M | -180.00M | -281.00M | -591.00M |
| Total Asset Writedown | 178.00M | 178.00M | 26.00M | 779.00M | ||
| Provision for Credit Losses | 2.96B | 3.62B | 3.76B | 2.18B | 313.00M | 20.00M |
| Change in Trading Asset Securities | -42.59B | -29.30B | -42.78B | 1.08B | -11.68B | -9.90B |
| Accrued Interest Receivable | -1.07B | -1.40B | 785.00M | 1.96B | 142.00M | 75.00M |
| Change in Income Taxes | 907.00M | 104.00M | 257.00M | -990.00M | 484.00M | -396.00M |
| Change in Other Net Operating Assets | 23.52B | 39.82B | -10.64B | -32.81B | -44.78B | -7.31B |
| Other Operating Activities | -572.00M | 28.00M | 162.00M | -696.00M | 475.00M | 184.00M |
| Operating Cash Flow | -4.74B | 23.47B | -39.41B | -23.13B | -40.27B | -8.20B |
| Capital Expenditures | -922.00M | -720.00M | -1.56B | -1.68B | -777.00M | -484.00M |
| Cash Acquisitions | -48.00M | -15.10B | ||||
| Investment in Securities | -26.04B | 2.33B | -22.96B | -4.38B | -29.25B | 621.00M |
| Income (Loss) Equity Investments | -212.00M | -175.00M | -207.00M | -185.00M | ||
| Divestitures | 1.23B | 63.00M | ||||
| Purchase / Sale of Intangibles | -1.01B | -1.01B | -671.00M | -499.00M | ||
| Investing Cash Flow | -28.02B | 605.00M | -24.53B | -21.16B | -29.47B | -299.00M |
| Short-Term Debt Issued | 1.25B | 1.00B | 2.07B | 6.93B | ||
| Long-Term Debt Issued | 9.18B | 14.78B | 5.40B | |||
| Total Debt Issued | 4.77B | 1.25B | 1.00B | 11.24B | 21.71B | 5.40B |
| Short-Term Debt Repaid | -2.19B | -13.07B | ||||
| Long-Term Debt Repaid | -321.00M | -357.00M | -12.28B | -6.97B | -6.65B | |
| Lease Payments | -360.00M | -321.00M | -357.00M | -353.00M | -294.00M | -327.00M |
| Total Debt Repaid | -1.11B | -2.52B | -13.43B | -12.28B | -6.97B | -6.65B |
| Net Debt Issued (Repaid) | 3.66B | -1.27B | -12.43B | -1.03B | 14.73B | -1.25B |
| Issuance of Common Stock | 209.00M | 158.00M | 68.00M | 3.35B | 3.11B | 159.00M |
| Repurchase of Common Stock | -4.52B | -3.40B | -17.00M | |||
| Preferred Stock Issued | 1.36B | 2.37B | 648.00M | 2.25B | ||
| Preferred Share Repurchases | -1.45B | -500.00M | -1.25B | -1.50B | -1.05B | |
| Total Dividends Paid | -5.12B | -5.03B | -3.84B | -2.70B | -2.60B | -2.98B |
| Net Increase (Decrease) in Deposit Accounts | 55.17B | -13.23B | 66.11B | 32.72B | 45.23B | 52.24B |
| Other Financing Activities | -3.00M | -3.00M | -3.00M | |||
| Financing Cash Flow | 47.95B | -21.91B | 51.03B | 32.99B | 61.21B | 47.12B |
| Foreign Exchange Rate Adjustments | 305.00M | 214.00M | 75.00M | 1.77B | 2.74B | -2.77B |
| Net Cash Flow | 15.50B | 2.39B | -12.84B | -9.53B | -5.79B | 35.85B |
| Free Cash Flow | -5.66B | 22.75B | -40.98B | -24.81B | -41.05B | -8.68B |
| Free Cash Flow Margin | -15.88% | 69.67% | -141.13% | -91.60% | -122.98% | -32.07% |
| Free Cash Flow Per Share | -8.00 | 31.46 | -56.24 | -34.91 | -61.67 | -13.38 |
| Free Cash Flow After Leases | -6.02B | 22.43B | -41.33B | -25.16B | -41.35B | -9.01B |
| Cash Interest Paid | 39.87B | 43.13B | 45.09B | 33.75B | 9.56B | 5.86B |
| Cash Income Tax Paid | 2.35B | 2.83B | 2.45B | 2.59B | 2.37B | 2.17B |
Ratios
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 121.08B | 89.06B | 66.42B | 54.38B | 61.79B | 70.24B |
| Last Close Price | 171.13 | 120.42 | 84.65 | 66.86 | 77.64 | 87.85 |
| PE Ratio | 19.81 | 15.09 | 13.35 | 18.45 | 6.33 | 11.60 |
| PS Ratio | 4.69 | 3.82 | 3.19 | 2.79 | 2.52 | 3.22 |
| PB Ratio | 1.93 | 1.42 | 1.10 | 0.99 | 1.19 | 1.51 |
| P/FCF Ratio | 5.49 | |||||
| P/OCF Ratio | 5.32 | |||||
| Debt / Equity Ratio | 3.91 | 3.69 | 3.55 | 3.63 | 3.85 | 3.49 |
| Debt / FCF Ratio | 14.27 | |||||
| Net Debt / Equity Ratio | -1.39 | -1.41 | -1.14 | -1.11 | -1.26 | -2.59 |
| Net Debt / FCF Ratio | 21.23 | -5.46 | 2.35 | 3.42 | 2.18 | 17.18 |
| Return on Equity (ROE) | 10.57% | 10.12% | 9.13% | 6.03% | 21.06% | 13.59% |
| Return on Assets (ROA) | 0.62% | 0.60% | 0.53% | 0.36% | 1.27% | 0.80% |
| Earnings Yield | 5.05% | 6.98% | 7.91% | 5.86% | 16.07% | 8.90% |
| FCF Yield | -3.40% | 18.23% | -44.27% | -32.85% | -48.72% | -9.97% |
| Dividend Yield | 2.81% | 3.66% | 4.82% | 5.54% | 4.37% | 3.16% |
| Payout Ratio | 55.73% | 57.77% | 52.47% | 61.09% | 19.17% | 38.43% |
| Buyback Yield / Dilution | 2.64% | 0.72% | -2.54% | -6.73% | -2.63% | -1.02% |
| Total Shareholder Return | 5.50% | 4.38% | 2.29% | -1.20% | 1.75% | 2.14% |