Bank of Montreal (BMO) financial statements

Financial Services · Banks - Diversified · Market cap $116.3B

Bank of Montreal reported revenue of 36.3B CAD in fiscal 2025, up 6.2% a year over 9 years.

Net income was 8.7B CAD.

Free cash flow was 8.5B CAD, and the company returned 5.0B CAD in dividends and 500M CAD in net buybacks.

The diluted share count rose 12% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CAD).

-2002040602016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CAD, from Bank of Montreal's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue21.1B CAD22.1B CAD22.9B CAD25.5B CAD25.2B CAD27.2B CAD33.7B CAD29.3B CAD32.8B CAD36.3B CAD
Interest expense4.5B CAD6.1B CAD9.6B CAD13.3B CAD9.3B CAD5.6B CAD11.0B CAD36.9B CAD46.5B CAD42.0B CAD
Pre-tax income5.7B CAD6.6B CAD7.4B CAD7.3B CAD6.3B CAD10.3B CAD17.9B CAD5.9B CAD9.5B CAD11.6B CAD
Income tax1.1B CAD1.3B CAD2.0B CAD1.5B CAD1.3B CAD2.5B CAD4.3B CAD1.5B CAD2.2B CAD2.8B CAD
Net income4.6B CAD5.3B CAD5.5B CAD5.8B CAD5.1B CAD7.8B CAD13.5B CAD4.4B CAD7.3B CAD8.7B CAD
EPS (diluted)6.92 CAD7.90 CAD8.17 CAD8.66 CAD7.55 CAD11.58 CAD19.99 CAD5.76 CAD9.51 CAD11.44 CAD
Diluted shares646M652M645M640M642M649M666M711M729M723M
Net margin21.9%24.1%23.8%22.6%20.2%28.5%40.2%15.1%22.3%24.0%

Balance sheet

Fiscal years, in CAD, from Bank of Montreal's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments31.7B CAD32.6B CAD42.1B CAD48.8B CAD57.4B CAD93.3B CAD87.5B CAD77.9B CAD65.1B CAD67.5B CAD
Property, plant and equipment—2.0B CAD2.0B CAD2.1B CAD4.2B CAD4.5B CAD4.8B CAD6.2B CAD6.2B CAD6.3B CAD
Goodwill6.4B CAD6.2B CAD6.4B CAD6.3B CAD6.5B CAD5.4B CAD5.3B CAD16.7B CAD16.8B CAD16.8B CAD
Total assets—709.6B CAD773.3B CAD852.2B CAD949.3B CAD988.2B CAD1.14T CAD1.35T CAD1.41T CAD1.48T CAD
Total liabilities—665.2B CAD727.6B CAD801.1B CAD892.7B CAD930.7B CAD1.07T CAD1.27T CAD1.33T CAD1.39T CAD
Shareholders' equity42.3B CAD44.3B CAD45.7B CAD51.1B CAD56.6B CAD57.5B CAD71.0B CAD76.1B CAD84.2B CAD88.1B CAD
Net debt-31.7B CAD-32.6B CAD-42.1B CAD-48.8B CAD-57.4B CAD-93.3B CAD-87.5B CAD-77.9B CAD-65.1B CAD-67.5B CAD

Cash flow

Fiscal years, in CAD, from Bank of Montreal's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow-2.7B CAD2.9B CAD17.9B CAD29.3B CAD50.8B CAD44.0B CAD5.0B CAD9.6B CAD26.7B CAD10.2B CAD
Capital spending224M CAD301M CAD330M CAD478M CAD399M CAD484M CAD777M CAD885M CAD1.6B CAD1.7B CAD
Free cash flow-3.0B CAD2.6B CAD17.6B CAD28.8B CAD50.4B CAD43.6B CAD4.2B CAD8.7B CAD25.1B CAD8.5B CAD
Dividends paid2.2B CAD2.0B CAD2.6B CAD2.8B CAD2.5B CAD3.0B CAD2.6B CAD2.7B CAD3.8B CAD5.0B CAD
Share buybacks (net)————————-1.2B CAD-500M CAD
Free cash flow margin-14.0%11.8%76.8%113.1%200.3%160.2%12.4%29.8%76.7%23.5%
Dividends per share3.43 CAD3.08 CAD4.00 CAD4.30 CAD3.85 CAD4.59 CAD3.90 CAD3.80 CAD5.27 CAD6.96 CAD
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Questions

What was Bank of Montreal's revenue in 2025?

36.3B CAD in fiscal 2025, from its 10-K filing.

How much free cash flow does Bank of Montreal generate?

8.5B CAD in fiscal 2025 (operating cash flow minus capital spending).

From Bank of Montreal's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.