M&T Bank Corporation
1.68xPrice / tangible book
Market cap
$34.64B
Tangible equity
$20.65B
Price / tangible book
1.68x
Price / book
1.19x
Return on equity
9.8%
Return on assets
1.3%
Efficiency ratio
41.5%
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: MTB stock price near parity vs RGA $239.88 current versus $243.43 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at RGA's multiple
Implied fair value · at MTB's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Multiple discount
Lower is better
Profitability edge
Asset efficiency edge
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: MTB FY 2025 (ended Dec 31, 2025) · RGA FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / tangible book
Market cap
$34.64B
Tangible equity
$20.65B
Price / tangible book
1.68x
Price / book
1.19x
Return on equity
9.8%
Return on assets
1.3%
Efficiency ratio
41.5%
Price / book
Market cap
$16.54B
Tangible equity
—
Price / tangible book
—
Price / book
1.23x
Return on equity
8.8%
Return on assets
0.8%
Efficiency ratio
—
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
M&T BANK CORPORATION · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
REINSURANCE GROUP OF AMERICA, INCORPORATED · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
0.45x
0.42x
Net debt / EBITDA
Leverage against operating earnings
—
0.72x
Cash and equivalents
Liquid reserves on the balance sheet
—
$4.17B
Total debt
Interest-bearing obligations outstanding
$13.06B
$5.71B
Comparable set
Where the pair sits against the wider banking comparable set.
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