Bank of Montreal

BMO.TOTSXFinancial Services● Active

$230.90

+$1.67(+0.73%)

Market Cap$161.7B

P/E Ratio—

52W High$231.95

52W Low$143.35

Avg Volume2.5M

Open$230.36

Beta1.16

Overview

Bank of Montreal (BMO.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

BMO.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

BMO.TO · FCF · TTM · margin & CAGR

Free cash flow was $8.51B for FY2025 (fiscal year ending 2025-10-31), down 69.0% year-over-year The FCF margin was 10.9%. Five-year CAGR stands at -29.8%.

FY2025 Free Cash Flow$8.51B▼ -69.0% YoY

Trailing 12M (TTM)$39.30Btrailing 4 quarters sum

FCF Margin10.9%$8.51B ÷ revenue

3-Year CAGR+34.4%FY2022 → FY2025

5-Year CAGR-29.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

BMO.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$10.24B(1.73B)$8.51B▼ 69.0%10.9%

FY2024$29.03B(1.56B)$27.47B▲ +40.2%35.0%

FY2023$9.59B(1.68B)$19.59B▲ +458.3%67.5%

FY2022$4.96B(1.45B)$3.51B▼ 91.9%13.4%

FY2021$13.42B(983M)$43.07B▼ 13.5%160.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

BMO.TO · P/FCF · FCF yield · FCF per share

Bank of Montreal (BMO.TO) trades at a FCF yield of 24.48% and a price-to-free-cash-flow ratio of 4.2x. FCF per share stands at $54.43, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

24.48%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$54.43

TTM FCF ÷ Shares Outstanding

Price / FCF

x4.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x6.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-10-31

Cash flow statement summary

BMO.TO · cash flow statement · operating / investing / financing

For FY2025, Bank of Montreal generated $10.24B in operating cash flow and spent 1.73B in capital expenditures, yielding $8.51B in free cash flow.

Operating Activities

+$10.24B

Cash from core business operations

2025-10-31

Investing Activities

+$605.0M

CapEx, acquisitions & investments

2025-10-31

Financing Activities

−$8.67B

Buybacks, dividends & debt

2025-10-31

FCF FormulaOperating CF ($10.24B) − |CapEx| (1.73B) = FCF ($8.51B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

BMO.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Bank of MontrealYOU

BMO.TO

$8.51B-69.0%10.9%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Bank of Montreal (BMO.TO) reported free cash flow of $8.51B for FY2025 (fiscal year ending 2025-10-31), down 69.0% year-over-year. The FCF margin was 10.9%.

Based on available data, Bank of Montreal has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $49.80B in FY2020. The 5-year CAGR stands at -29.8%.

Bank of Montreal's FCF yield is 24.48% and price-to-FCF ratio is 4.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

BMO.TO free cash flow · 8 questions

Bank of Montreal free cash flow was $8.51B for FY2025, down 69.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $39.30B.

BMO.TO free cash flowBMO.TO FCFBMO.TO FCF 2025BMO.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Bank of Montreal · Bank of Montreal SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026