Metropolitan Bank & Trust Company MTPOY

FinancialsBanking ServicesPhilippines

Last close 19.68 USD on Nov 3, 2026, −8.6% year to date

Quant rating

Quant rating C Rank 143 of 304 in Financials

Growth B 63 of 304
Valuation A 37 of 304
Quality B 111 of 304
Revisions D 221 of 304
Momentum C 211 of 304

Wall Street consensus Buy (1.88)Average target 1.22 USD −93.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.3B
Enterprise value: 11.7B
52-week range: 18.20 – 25.85
3-year range: 16.05 – 27.21
Dividend yield: 3.69%
Beta (5 years): –
Shares outstanding: 4,497M
Next earnings: Nov 5, 2026

About the company

Metropolitan Bank & Trust Company (the Bank) is a Philippines-based universal bank. The Bank and its subsidiaries are engaged in all aspects of banking, financing, leasing, and stock brokering. Its Consumer Banking segment offers consumer type loans and support for effective sourcing and generation of consumer business. Its Corporate Banking segment handles loans and other credit facilities and deposit and current accounts for corporate and institutional customers. Its Investment Banking segment arranges structured financing and provides services relating to privatizations, initial public offerings, mergers and acquisitions. Its Treasury segment provides money market, trading and treasury services. Its Branch Banking segment handles branch deposits and loans and other loan-related businesses for domestic middle market clients. Its Others segment handles other services including remittances, leasing, account financing, and other support services.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,164	3,059	2,773	1,839	1,710	–
Revenue growth	3.4%	10.3%	50.8%	7.6%	−23.8%	7.1%
EPS (basic, normalized)	0.19	0.18	0.17	0.13	0.10	–
EPS growth	2.0%	8.7%	29.5%	35.5%	50.8%	24.0%
Gross margin	–	–	–	–	–	–
Net margin	26.7%	27.1%	27.5%	32.0%	25.4%	27.7%
ROE	–	12.9%	12.5%	10.3%	6.9%	10.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	11,930
Net debt (mil)	–
Total equity (mil)	6,681
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	3,164	+3.4%	3.7x	1.63	+9.2%	12.1x	0.19	+3.6%	102.7x
2026	2,602	−17.7%	4.5x	1.54	−5.5%	12.8x	0.18	−8.2%	111.8x
2027	2,799	+7.6%	4.2x	1.67	+8.8%	11.8x	0.19	+5.8%	105.8x
2028	3,011	+7.6%	3.9x	1.83	+9.5%	10.8x	0.20	+6.7%	99.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,602	−0.4%	−0.1%	−1.1%	0.18	0.0%	−1.2%	−4.0%
2027	2,799	−0.5%	+0.1%	−0.6%	0.19	−0.3%	−1.7%	−4.2%
2028	3,011	−1.6%	0.0%	−2.2%	0.20	−1.1%	−2.0%	−6.1%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	35,278	34,720	39,815	33,521	38,056	39,567	39,568	39,973	40,505	41,131
Sales mean (mil)	35,678	36,294	37,465	37,371	37,406	38,453	38,796	39,738	41,153	41,279
Surprise	−1.1%	−4.3%	+6.3%	−10.3%	+1.7%	+2.9%	+2.0%	+0.6%	−1.6%	−0.4%
EPS reported	2.67	2.58	2.70	2.76	2.72	2.80	2.76	2.77	2.80	2.73
EPS mean	2.58	2.69	2.83	2.68	2.60	2.65	2.54	2.76	2.88	2.80
Surprise	+3.6%	−4.2%	−4.6%	+2.9%	+4.5%	+5.7%	+8.7%	+0.1%	−2.9%	−2.6%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
MTPOY Metropolitan Bank & Trust Company	4.3B	–	26.7%	1.37x	111.8x	105.8x	12.8x	11.8x
NNI Nelnet, Inc.	4.4B	–	21.2%	–	16.5x	14.4x	–	–
CATY Cathay General Bancorp	4.3B	13.7%	24.1%	1.05x	11.6x	10.6x	1.4x	1.3x
IBOC International Bancshares Corp	4.3B	24.1%	46.5%	1.34x	10.6x	10.0x	–	–
ENVA Enova International, Inc.	4.3B	–	16.8%	–	10.1x	8.2x	2.5x	2.0x
FLG Flagstar Bank, National Association	4.2B	14.0%	−4.7%	1.11x	45.6x	12.0x	0.5x	0.5x
Mean		17.3%	21.8%	1.21x	34.4x	26.8x	4.3x	3.9x
Median		14.0%	22.6%	1.22x	14.1x	11.3x	1.9x	1.6x

Technical analysis

1M−6.3%
3M−12.0%
1Y−22.1%
3Y+13.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Metropolitan Bank & Trust Company, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	3,164	3,059	2,773	1,839	1,710	2,245
Total interest expense	1,044	1,094	878	303	238	452
Net interest income	2,120	1,965	1,895	1,536	1,472	1,794
Loan loss provision	203	110	162	146	232	849
Net interest income after loan loss provision	1,917	1,855	1,733	1,391	1,240	945
Non-interest income	569	574	532	538	518	746
Non-interest expense	−1,356	−1,386	−1,257	−1,139	−1,166	−1,252
Net income before taxes	1,130	1,043	1,008	789	591	438
Provision for taxes	269	195	233	191	153	147
Minority interest & equity in affiliates	−15.4	−18.9	−13.0	−9.4	−4.1	−3.0
Other	0	0	0	0	0	0
Net income before extraordinary items	846	829	763	589	435	288
Extraordinary items	–	–	–	–	–	–
Net income	846	829	763	589	435	288
Basic weighted average shares (mil)	4,497	4,496	4,496	4,496	4,496	4,496
Diluted weighted average shares (mil)	4,497	4,496	4,496	4,496	4,496	4,496
Basic EPS excluding extraordinary items	0.19	0.18	0.17	0.13	0.10	0.06
Basic EPS, normalized	0.19	0.18	0.17	0.13	0.10	0.06

Balance sheet in millions of USD, fiscal years

Balance sheet, Metropolitan Bank & Trust Company, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	4,720	5,979	7,416	7,949	8,116	9,602
Other earning assets	26,388	22,110	19,843	16,680	15,681	14,306
Net loans	33,152	30,842	27,375	25,195	23,998	25,811
Property, plant & equipment	525	484	492	488	506	513
Goodwill	77.3	78.2	85.2	93.3	102	108
Intangibles	84.5	71.9	60.4	63.6	51.0	39.1
Long-term investments	130	109	113	106	115	130
Other long-term assets	260	311	256	240	257	292
Other assets	654	631	417	256	259	337
Total assets	65,992	60,616	56,057	51,070	49,084	51,139
Liabilities
Accounts payable	738	689	496	–	–	–
Payable/accrued	319	405	357	251	193	191
Accrued expenses	21.2	25.0	18.8	–	–	–
Total deposits	45,254	44,319	43,020	39,898	37,856	37,434
Other bearing liabilities	124	119	127	117	106	125
Short-term borrowings	–	5,177	2,833	1,640	1,379	2,908
Current portion of long-term debt	9,451	–	–	–	–	–
Long-term debt	1,626	1,949	1,369	1,609	1,588	1,928
Minority interest	178	188	367	354	389	360
Other liabilities	1,109	1,107	1,029	1,480	1,326	1,439
Total liabilities	58,820	53,978	49,618	45,349	42,838	44,386
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,530	1,549	1,624	1,616	1,764	1,874
Additional paid-in capital	1,450	1,468	1,539	1,531	1,672	1,776
Retained earnings (accumulated deficit)	4,430	4,015	3,749	3,215	3,132	3,240
Treasury stock	–	0	−1.3	−1.3	−1.4	−1.4
Other equity	−238	−394	−471	−640	−320	−135
Total equity	7,172	6,638	6,439	5,721	6,246	6,753
Total liabilities & shareholders' equity	65,992	60,616	56,057	51,070	49,084	51,139

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Metropolitan Bank & Trust Company, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,130	1,043	1,008	789	591	438
Depreciation, depletion & amortization	123	117	125	107	126	115
Deferred taxes	–	–	–	–	–	–
Non-cash items	27.5	−53.6	−49.0	−126	−43.4	28.7
Changes in working capital	290	−4,229	445	1,946	3,150	4,548
Cash from operations	1,570	−3,122	1,529	2,717	3,824	5,130
Investing activities
Capital expenditures	−145	−73.2	−67.7	−56.0	−63.3	−50.6
Other investing cash flows	−6,236	−571	−2,624	−2,279	−2,427	−2,949
Cash from investing	−6,381	−644	−2,692	−2,335	−2,490	−2,999
Financing activities
Financing cash flow items	0	5.4	0.1	0.2	0	0.6
Cash dividends paid	−406	−390	−246	−245	−356	−96.7
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	3,957	3,015	811	493	−1,545	−923
Cash from financing	3,551	2,630	565	249	−1,901	−1,020
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−1,259	−1,136	−598	631	−567	1,112
Free cash flow	1,425	−3,196	1,461	2,661	3,760	5,080

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.