Bank of Montreal
NYSE: BMO · FINANCIAL SERVICES · BANKS - DIVERSIFIED
Updated 2026-06-05
Bank of Montreal (BMO) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2010 | $15.45B | $2.81B | 72.23% | 23.11% | 18.18% |
| 2011 | $18.99B | $3.04B | 67.03% | 21.01% | 16.01% |
| 2012 | $20.77B | $4.08B | 73.02% | 24.22% | 19.66% |
| 2013 | $21.42B | $4.13B | 75.84% | 24.51% | 19.28% |
| 2014 | $22.63B | $4.28B | 77.29% | 23.13% | 18.90% |
| 2014 | $58.77B | $2.20B | — | — | 3.75% |
| 2015 | $23.58B | $4.37B | 78.76% | 22.65% | 18.54% |
| 2015 | $42.83B | $1.27B | — | — | 2.96% |
| 2016 | $25.46B | $4.62B | 79.24% | 22.51% | 18.15% |
| 2016 | $57.09B | $2.55B | — | — | 4.46% |
| 2017 | $27.86B | $5.34B | 75.29% | 23.80% | 19.16% |
| 2017 | $52.27B | $5.15B | — | — | 9.85% |
| 2018 | $32.34B | $5.45B | 68.27% | 22.93% | 16.86% |
| 2019 | $38.60B | $5.76B | 63.37% | 18.84% | 14.92% |
| 2020 | $34.37B | $5.10B | 64.22% | 18.47% | 14.83% |
| 2021 | $32.49B | $7.75B | 82.77% | 31.58% | 23.87% |
| 2022 | $37.27B | $13.54B | 69.61% | 47.99% | 36.32% |
| 2023 | $68.01B | $4.42B | 43.59% | 8.74% | 6.51% |
| 2024 | $78.56B | $7.32B | 36.00% | 12.14% | 9.32% |
| 2025 | $78.15B | $8.71B | 41.56% | 14.78% | 11.14% |
Frequently asked questions
What is Bank of Montreal's revenue?
Bank of Montreal's trailing twelve-month revenue is $34.68B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is BMO?
In its most recent fiscal year, BMO ran a gross margin of 41.56%, an operating margin of 14.78%, and a net margin of 11.14%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does BMO generate?
BMO produced $8.51B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is BMO's balance sheet healthy?
BMO holds $70.32B in cash and equivalents against $59.13B in long-term debt, on $88.05B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.