Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · View financials
Decision snapshot: PNC stock price vs MTB: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at MTB's multiple
Needs MTB P/E.
Implied fair value · at PNC's multiple
Needs PNC P/E.
Price unavailable
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Lower is better
Lower is better
Profitability edge
Asset efficiency lag
Less efficient
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: PNC FY 2025 (ended Dec 31, 2025) · MTB 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 / book
Market cap
—
Tangible equity
$49.25B
Price / tangible book
—
Price / book
—
Return on equity
11.5%
Return on assets
1.2%
Efficiency ratio
58.6%
Price / book
Market cap
—
Tangible equity
$20.64B
Price / tangible book
—
Price / book
—
Return on equity
9.8%
Return on assets
1.3%
Efficiency ratio
54.3%
Price framework
Discounted free cash flow, then bridged to a per-share price. Same assumptions applied to both companies.
PNC Financial Services Group, Inc. · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
M&T BANK CORPORATION · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
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
1.20x
0.45x
Net debt / EBITDA
Leverage against operating earnings
-1.15x
0.07x
Cash and equivalents
Liquid reserves on the balance sheet
$108.67B
$12.32B
Total debt
Interest-bearing obligations outstanding
$72.74B
$13.06B
Comparable set
Where the pair sits against the wider banking comparable set.
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An on-demand narrative read of the same deterministic data.
Based on an earlier data snapshot. Review the filing dates below or refresh after signing in.
If you believe PNC's superior scale, higher net margin and attractive enterprise multiples will drive a re-rating toward historical/MTB EV multiples, then consider buying because EV/EBITDA (1.7x) and EV/Revenue (2.4x) are cheaper than MTB's despite the equity multiple premium and current price sitting only modestly above the P/E-implied $207.95.
PNC's current share price of $223.31 is above the P/E-implied price of $207.95 (implying a -6.9% gap), meaning the market is valuing PNC at a premium to the P/E-based MTB-implied valuation. On a P/E and P/S basis PNC is modestly richer than MTB, though enterprise multiples show PNC cheaper.
Supporting Metrics
Price unavailable
