Bank of Montreal
TSX:BMO.TO · Toronto Stock Exchange
+$2.41 today
Vol 4.43M · Avg 2.46M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
TSX:BMO.TO · Revenue to Net Income
Key Ratios
Analysis
$77.0B of revenue converted into $9.7B of net income for the selected period. Gross margin is 44.7% and net margin is 12.6%, showing how much revenue survives after costs and taxes. EPS is $13.03, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $78.1B -0.5% | $78.6B +170.7% | $29.0B +10.5% | $26.3B -2.4% | $26.9B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $45.7B -9.2% | $50.3B | $0 -100.0% | $569.0M | $0 | $725.6M | $804.0M | $882.4M |
| Gross Profit | $32.5B +14.9% | $28.3B -4.6% | $29.6B +15.4% | $25.7B -4.5% | $26.9B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 41.6% +5.6pp | 36.0% -66.1pp | 102.1% +4.3pp | 97.8% -2.2pp | 100.0% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $12.8B +9.5% | $11.7B -4.6% | $12.3B +42.2% | $8.6B -14.7% | $10.1B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $20.9B +11.7% | $18.7B -20.9% | $23.7B +194.0% | $8.1B -17.1% | $9.7B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $1.0B -51.9% | $2.1B +0.5% | $2.1B +41.8% | $1.5B +3.9% | $1.4B | $374.2M | $1.2B | $631.8M |
| EBITDA | $12.4B +10.9% | $11.2B +44.8% | $7.7B -59.6% | $19.1B +67.0% | $11.4B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 15.9% +1.6pp | 14.2% -12.4pp | 26.6% -46.1pp | 72.7% +30.2pp | 42.5% | 5.6% | 46.3% | 42.0% |
| Operating Income | $11.6B +27.4% | $9.1B -12.0% | $10.3B -46.8% | $19.4B +37.6% | $14.1B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 14.8% +3.2pp | 11.5% -23.9pp | 35.5% -38.3pp | 73.8% +21.5pp | 52.3% | 16.6% | 24.1% | 22.0% |
| Interest Income | $63.5B -3.7% | $66.0B +18.7% | $55.6B +106.6% | $26.9B +35.2% | $19.9B | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $42.0B -9.6% | $46.5B +26.1% | $36.9B +235.0% | $11.0B +97.5% | $5.6B | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$175.0M -137.2% | $470.0M +118.9% | -$2.5B -68.0% | -$1.5B +61.2% | -$3.8B | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $11.4B +19.3% | $9.5B +60.3% | $5.9B -66.8% | $17.9B +74.4% | $10.3B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 14.6% +2.4pp | 12.1% -8.4pp | 20.5% -47.6pp | 68.1% +30.0pp | 38.1% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $2.8B +27.9% | $2.2B +46.2% | $1.5B -65.3% | $4.3B +73.7% | $2.5B | $1.3B | -$1.6B | $745.2M |
| Net Income | $8.7B +19.0% | $7.3B +65.4% | $4.4B -67.3% | $13.5B +74.6% | $7.8B | $4.9B | $4.8B | $4.7B |
| Net Margin | 11.1% +1.8pp | 9.3% -5.9pp | 15.2% -36.3pp | 51.6% +22.7pp | 28.8% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $11 +20.3% | $10 +65.2% | $6 -71.2% | $20 +72.8% | $12 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $11 +20.3% | $10 +65.1% | $6 -71.2% | $20 +72.6% | $12 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $721.9M -0.8% | $727.7M +2.6% | $709.4M +6.8% | $664.0M +2.6% | $647.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $723.3M -0.7% | $728.5M +2.5% | $710.5M +6.7% | $665.7M +2.6% | $648.7M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
The Toronto-Dominion Bank
TSX:TD.TO
$278.93B
The Bank of Nova Scotia
TSX:BNS.TO
$151.60B
Canadian Imperial Bank of Commerce
TSX:CM.TO
$145.98B
Brookfield Asset Management Ltd.
TSX:BAM.TO
$106.83B
Manulife Financial Corporation
TSX:MFC.TO
$95.68B
National Bank of Canada
TSX:NA.TO
$85.54B
The Toronto-Dominion Bank NCUM 5Y PFD SR18
TSX:TD-PFJ.TO
$43.74B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does BMO.TO generate?
Bank of Montreal (BMO.TO) reported $78.15B of revenue in fiscal 2025.
Is BMO.TO profitable?
Bank of Montreal (BMO.TO) reported $8.71B of net income, with a net margin of 11.1%.
Explore More
Continue the stock analysis
Jump to another research area for this company.