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Earnings transcript
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BMO
Bank of Montreal
$164.39
-0.83
(-0.5%)
| Exchange: | NYSE |
| Market Cap: | 115.141B |
| Shares Outstanding: | 499.033M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Diversified | |||||
| CEO: | William Darryl White | |||||
| Full Time Employees: | 53597 | |||||
| Address: |
| |||||
| Website: | https://www.bmo.com |
Bank of Montreal, a venerable financial institution established in Montreal, Canada, in 1817, delivers a comprehensive suite of financial solutions predominantly serving clients across North America. For individual customers, BMO offers core retail banking essentials such as current and savings accounts, credit facilities like credit cards and mortgages, alongside personalized financial and investment guidance. Its commercial arm supports businesses of all sizes with specialized deposit solutions, corporate credit cards, business and commercial loans, sophisticated cash management, foreign exchange services, treasury solutions, and essential risk management tools. Beyond traditional banking, the institution extends into wealth management through investment advisory, digital investing platforms, and comprehensive asset management, coupled with trust and custodial services. Furthermore, BMO protects its clientele with a range of insurance products, including life, accident, sickness, and annuity options, alongside creditor and travel insurance, and reinsurance offerings. In the capital markets, BMO facilitates client access to funding through debt and equity capital-raising, provides loan origination and syndication, and offers strategic financial advisory services covering mergers and acquisitions, corporate restructurings, recapitalizations, and valuation analyses. Clients also benefit from extensive market research and trading capabilities across various asset classes, including fixed income, foreign exchange, equities, and commodities. These services are complemented by new product development, risk management consultation to hedge against market volatility, and liquidity management solutions. Geographically, BMO maintains a significant physical footprint with approximately 900 bank branches and 3,300 automated banking machines spread throughout Canada and the United States.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 68,008,000 | 78,558,000 | 78,149,000 |
| Gross Profit | 29,642,000 | 28,280,000 | 32,482,000 |
| EBITDA | 8,039,000 | 11,645,000 | 13,730,000 |
| Operating Income | 5,947,000 | 9,535,000 | 11,550,000 |
| Net Income | 4,425,000 | 7,318,000 | 8,709,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,347,006,000 | 1,409,647,000 | 1,476,802,000 |
| Total Liabilities | 1,270,883,000 | 1,325,361,000 | 1,388,702,000 |
| Total Stockholders Equity | 76,095,000 | 84,250,000 | 88,051,000 |
| Total Debt | 354,843,000 | 373,231,000 | 415,195,000 |
| Cash and Cash Equivalents | 82,043,000 | 68,738,000 | 70,322,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 9,591,000 | 29,030,000 | 10,240,000 |
| Capital Expenditure | -885,000 | -1,564,000 | -1,729,000 |
| Free Cash Flow | 7,914,000 | 27,466,000 | 8,511,000 |
| Net Income | 4,437,000 | 7,327,000 | 8,725,000 |
| Net Change in Cash | -9,532,000 | -12,836,000 | 2,386,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 42,160,693.415 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 43,335,429.472 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 42,648,974.886 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 11,178,251.956 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 11,489,714.946 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 11,307,712.192 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 12,527,338.858 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 12,982,686.063 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 12,755,012.461 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 8,740,527.179 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 8,984,067.112 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 8,841,755.056 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 17.580 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 17.950 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 17.320 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 2 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: BMO Financial Group reported a strong start to the year in its Q1 2025 earnings call, with key financial results indicating solid revenue and net income growth. Historical income statements reflect consistent revenue and gross profit increases, supported by strong operating cash flow and free cash flow metrics, positioning BMO favorably within the banking sector.
- Diversified Operations: The company’s revenue product and geographic segments highlight a well-balanced portfolio across regions and product categories, reducing dependency on any single market or line of business. This diversification, as emphasized in the earnings call, provides resilience against localized economic downturns.
- Strong Balance Sheet: Balance sheet data shows substantial cash and cash equivalents alongside manageable total liabilities relative to total assets. The current ratio and quick ratio (TTM) indicate good liquidity, enabling BMO to meet short-term obligations effectively.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates BMO intrinsic value between $251.01 – $554.73 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about BMO valuation
Is Bank of Montreal (BMO) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Bank of Montreal (BMO) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is BMO a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether BMO trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is BMO’s P/E ratio?
You can see BMO’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for BMO?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is BMO a good long-term investment?
Whether BMO fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
BMO
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
-0.5
Trading Metrics:
| Open: | 165.66 | Previous Close: | 165.22 | |
| Day Low: | 164.32 | Day High: | 166.46 | |
| Year Low: | 104.09 | Year High: | 166.55 | |
| Price Avg 50: | 151.59 | Price Avg 200: | 136.33 | |
| Volume: | 682042 | Average Volume: | 811301 |
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Login — it's freeBMO full analysis
Welcome to MARKETSNAP’s SWOT analysis for BMO Financial Group, one of the heavyweights in the banking world. If you’re a long-term investor looking to dig into a solid financial institution, you’ve come to the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for BMO—also known by its ticker, BMO—and giving you the insights you need to make informed decisions. Let’s dive into what makes this bank tick, check out some recent developments, and see where it…
