Compare Stocks › MA vs MTB

Mastercard Incorporated (MA) vs M&T Bank Corporation (MTB): Which Is the Better Buy in 2026?

As of 2026-06-19, MA is fairly valued at $490, with a DCF intrinsic value of $571 and a margin of safety of 14%. MTB is undervalued at $225, with an intrinsic value of $570 and a margin of safety of 61%. Of the two, MTB has the wider margin of safety.

Mastercard Incorporated

$489.79

MTB

M&T Bank Corporation

$225.12

Rewards

★Mastercard Incorporated has maintained ROIC above 15% for 4 consecutive years, indicating a durable competitive advantage.
★Gross margin of 100.0% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
★Mastercard Incorporated scores 99/100 on the Economic Moat Score (Wide Moat), with roic consistency as the strongest competitive dimension.

MTB

★M&T Bank Corporation scores 79/100 on the Economic Moat Score (Wide Moat), with reinvestment efficiency as the strongest competitive dimension.
★Share count has been reduced by 10% over the past 4 years through buybacks, increasing each share's claim on earnings.
★Each dollar of retained earnings has created $2.15 of earning power — management is an exceptional capital allocator.

Risks

⚠High leverage (1.60x net debt/equity) combined with thin interest coverage (-1.0x) poses financial risk.
⚠12 insider sales with no purchases over the past 12 months — a persistent pattern of insider selling.

MTB

⚠Gross margin of 0.0% is low, suggesting a competitive or commodity-like market with limited pricing power.
⚠Altman Z-Score of 0.28 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.
⚠Insiders have sold $6.4M worth of stock in the past 3 months — significant insider liquidation.

Key Valuation Metrics

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MTB

Valuation

$16.15B

Free Cash Flow

N/A

3.73%

FCF Yield

N/A

28.31

Trailing P/E

12.64

21.50

Forward P/E

10.77

Quality & Moat

63.51%

ROIC

14.71%

232.08%

ROE

10.29%

100.00%

Gross Margin

0.00%

1.54

PEG Ratio

1.47

Balance Sheet Safety

1.60

Net Debt / Equity

N/A

Interest Coverage

N/A

0.50

Net Debt / EBITDA

N/A

0.69%

Dividend Yield

2.59%

MA: 3Ties: 2MTB: 3

MAMTB

Historical Fundamentals

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Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

MTB

$1 Retained Earnings Test

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$5.62

created per $1 retained over 3 years

Exceptional Value Creator

Σ Retained

$31.68B

Δ Market Cap

+$177.96B

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

MTB

$1.18

created per $1 retained over 3 years

Value Creator

Σ Retained

$5.13B

Δ Market Cap

+$6.03B

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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14.2% Margin of Safety

Price is 14.2% below estimated fair value

Current Price: $489.79

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Fair Value: $571.14

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

MTB

60.5% Margin of Safety

Price is 60.5% below estimated fair value

Current Price: $225.12

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Fair Value: $570.50

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Reverse DCF — Market-Implied Growth

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What growth rate is the market pricing in at $490?

+13.0%

Market-Implied Owner Earnings Growth

Standard FCF implies +12.0%

The market implies +13.0% Owner Earnings growth, roughly in line with history — reasonably priced.

Standard FCF implies +12.0%, reflecting ongoing growth investment.

MTB

Requires positive FCF to compute implied growth rate.

Economic Moat Score

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99/100

Wide Moat

70+ Wide · 40-69 Narrow · <40 None

Wide moat with strength across all dimensions. ROIC Consistency is the standout factor.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

MTB

79/100

Wide Moat

70+ Wide · 40-69 Narrow · <40 None

Wide moat driven primarily by reinvestment efficiency. Margin Stability is the area most vulnerable to competitive pressure.

Forensic Accounting

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-2.53

Unlikely Manipulator

Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

MTB

-2.42

Unlikely Manipulator

Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Ownership Breakdown

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Insiders 0.1%Institutions 91.6%Retail & Other 8.3%

No. of Institutional Holders4,804

High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

MTB

Insiders 0.3%Institutions 93.1%Retail & Other 6.5%

No. of Institutional Holders1,446

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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Buys (3M)

Buys (12M)

No open market insider purchases found.

Open market purchases · includes direct & indirect ownership · excludes option exercises

MTB

Buys (3M)

Buys (12M)

No open market insider purchases found.

Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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Sells (3M)

Sells (12M)

Total value (12M): $39.22M

LING HAI

Officer

$4.48M

@ $499.20 · 2026-02-24

SACHIN J. MEHRA

Chief Financial Officer

$10.20M

@ $591.00 · 2025-09-02

LING HAI

Officer

$2.69M

@ $600.00 · 2025-08-22

SACHIN J. MEHRA

Chief Financial Officer

$10.46M

@ $586.89 · 2025-08-19

SACHIN J. MEHRA

Chief Financial Officer

$3.83M

@ $566.46 · 2025-08-05

GENACHOWSKI JULIUS

Director

$178,049

@ $570.67 · 2025-07-07

KIRKPATRICK LINDA PISTECCHIA

Officer

$536,480

@ $560.00 · 2025-06-30

SESHADRI RAJEEV

Officer

$601,447

@ $546.77 · 2025-06-27

GENACHOWSKI JULIUS

Director

$173,910

@ $561.00 · 2025-06-24

KIRKPATRICK LINDA PISTECCHIA

Officer

$536,480

@ $560.00 · 2025-06-24

SESHADRI RAJEEV

Officer

$508,474

@ $535.80 · 2025-06-20

VOSBURG CRAIG

Officer

$5.02M

@ $532.97 · 2025-06-20

SESHADRI RAJEEV

Officer

$1.76M

@ $561.78 · 2025-06-16

KIRKPATRICK LINDA PISTECCHIA

Officer

$549,373

@ $572.86 · 2025-06-13

VOSBURG CRAIG

Officer

$5.55M

@ $588.18 · 2025-06-12

VOSBURG CRAIG

Officer

$8.22M

@ $585.05 · 2025-06-05

ARKELL SANDRA A

Officer

$218,223

@ $577.31 · 2025-05-15

ARKELL SANDRA A

Officer

$257,535

@ $572.30 · 2025-05-12

MIEBACH MICHAEL

Chief Executive Officer

$8.68M

@ $550.16 · 2025-03-26

MCLAUGHLIN EDWARD GRUNDE

Officer

$3.81M

@ $534.68 · 2025-03-19

MIEBACH MICHAEL

Chief Executive Officer

$9.78M

@ $553.76 · 2025-03-05

VOSBURG CRAIG

Officer

$6.12M

@ $556.14 · 2025-03-05

VOSBURG CRAIG

Officer

$6.19M

@ $562.72 · 2025-02-26

MCLAUGHLIN EDWARD GRUNDE

Officer

$6.18M

@ $564.99 · 2025-02-18

MIEBACH MICHAEL

Chief Executive Officer

$10.17M

@ $564.95 · 2025-02-18

VOSBURG CRAIG

Officer

$7.97M

@ $565.00 · 2025-02-18

SACHIN J. MEHRA

Chief Financial Officer

$2.36M

@ $500.44 · 2024-11-01

MADABHUSHI VENKATA RAJAMANNAR

Officer

$2.30M

@ $491.03 · 2024-09-27

MADABHUSHI VENKATA RAJAMANNAR

Officer

$2.29M

@ $489.86 · 2024-09-20

ARKELL SANDRA A

Officer

$550,000

@ $500.00 · 2024-09-17

MADABHUSHI VENKATA RAJAMANNAR

Officer

$2.31M

@ $493.10 · 2024-09-13

ARKELL SANDRA A

Officer

$528,000

@ $480.00 · 2024-08-29

MASTERCARD FOUNDATION ASSET MANAGEMENT CORPORATION

Beneficial Owner of more than 10% of a Class of Security

$42.19M

@ $468.80 · 2024-08-22

MASTERCARD FOUNDATION ASSET MANAGEMENT CORPORATION

Beneficial Owner of more than 10% of a Class of Security

$42.03M

@ $467.02 · 2024-08-21

LING HAI

Officer

$1.36M

@ $470.00 · 2024-08-16

SACHIN J. MEHRA

Chief Financial Officer

$3.16M

@ $470.00 · 2024-08-16

SACHIN J. MEHRA

Chief Financial Officer

$6.11M

@ $455.00 · 2024-08-05

LING HAI

Officer

$1.35M

@ $465.46 · 2024-08-01

ARKELL SANDRA A

Officer

$512,006

@ $465.46 · 2024-08-01

VOSBURG CRAIG

Officer

$4.07M

@ $451.06 · 2024-06-20

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

MTB

Sells (3M)

Sells (12M)

Total value (12M): $16.55M

PEARSON KEVIN J

Officer

$5.27M

@ $225.50 · 2026-06-09

PEARSON KEVIN J

Officer

$440,000

@ $220.00 · 2026-06-04

KAY CHRISTOPHER E

Officer

$672,232

@ $216.50 · 2026-05-07

WISLER MICHAEL A

Officer

$1.84M

@ $223.51 · 2026-02-26

WOODROW TRACY S

Officer

$246,623

@ $234.21 · 2026-02-11

BARNES JOHN P

Director

$5.00M

@ $235.85 · 2026-02-09

WALTERS KIRK W

Director

$206,676

@ $227.37 · 2026-02-03

TAYLOR JOHN R

Officer

$158,638

@ $225.34 · 2026-02-02

GEISEL GARY N

Director

$191,369

@ $215.99 · 2026-01-28

KAY CHRISTOPHER E

Officer

$1.01M

@ $191.70 · 2025-11-26

WOODROW TRACY S

Officer

$693,061

@ $202.12 · 2025-08-29

TAYLOR JOHN R

Officer

$89,502

@ $199.78 · 2025-08-26

D'ARCY PETER

Officer

$485,570

@ $197.31 · 2025-07-22

LEDGETT RICHARD H. JR.

Director

$252,178

@ $197.48 · 2025-07-21

KAY CHRISTOPHER E

Officer

$299,527

@ $172.34 · 2025-03-12

WOODROW TRACY S

Officer

$468,200

@ $220.74 · 2024-11-26

SALAMONE DENIS J

Director

$2.23M

@ $223.41 · 2024-11-25

WISLER MICHAEL A

Officer

$2.40M

@ $213.05 · 2024-11-14

TODARO MICHAEL J

Officer

$1.02M

@ $214.10 · 2024-11-12

PEARSON KEVIN J

Officer

$1.47M

@ $195.88 · 2024-11-01

O HARA LAURA PROSKE

Officer

$956,118

@ $196.93 · 2024-10-28

TAYLOR JOHN R

Officer

$280,057

@ $195.03 · 2024-10-28

JONES RENE F.

Chief Executive Officer

$4.47M

@ $193.88 · 2024-10-28

SALAMONE DENIS J

Director

$1.72M

@ $172.03 · 2024-09-03

TODARO MICHAEL J

Officer

$778,897

@ $162.58 · 2024-08-09

PEARSON KEVIN J

Officer

$989,066

@ $162.27 · 2024-08-09

GEISEL GARY N

Director

$86,249

@ $172.50 · 2024-07-24

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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😐Neutral(47/100)

"Market is pricing this stock without strong emotion in either direction"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

MTB

😏Greed(62/100)

"Market is optimistic — be cautious and ensure you have a margin of safety"

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Neutral (47)

MTB

⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Greed (62)

View MA Full Analysis View MTB Full Analysis

Frequently Asked Questions: MA vs MTB

Is Mastercard Incorporated or M&T Bank Corporation more undervalued in 2026?▼

Based on our discounted cash flow model, MTB trades at a 60.5% margin of safety (intrinsic value $570 vs. price $225), compared to MA's 14.2% margin of safety (intrinsic $571 vs. $490).

Which stock has a wider economic moat, Mastercard Incorporated or M&T Bank Corporation?▼

MA scores 99/100 (Wide moat), while MTB scores 79/100 (Wide moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is M&T Bank Corporation in financial distress?▼

MTB's Altman Z-Score of 0.3 places it in the Distress zone, signaling elevated bankruptcy risk. MA scores 10.6 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

Which stock has higher return on invested capital, Mastercard Incorporated or M&T Bank Corporation?▼

MA earns 63.5% ROIC versus MTB's 14.7%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

Which dividend is safer, Mastercard Incorporated's or M&T Bank Corporation's?▼

MTB's dividend earns a safety score of 94/100 (Very Safe), compared to MA's 94/100 (Very Safe). MTB has raised its dividend for 3 consecutive years.