Comprehensive Stock Comparison
Compare The Bank of Nova Scotia (BNS) vs Citigroup Inc. (C) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BNS | 148.2% revenue growth vs C's 9.9% |
| Value | BNS | Lower P/E (9.3x vs 10.7x) |
| Quality / Margins | BNS | 10.6% net margin vs C's 7.4% |
| Stability / Safety | BNS | Beta 0.39 vs C's 1.30 |
| Dividends | BNS | 4.2% yield, 1-year raise streak, vs C's 2.5% |
| Momentum (1Y) | BNS | +58.9% vs C's +40.8% |
| Efficiency (ROA) | C | 0.6% ROA vs BNS's 0.5%, ROIC 1.6% vs 1.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
The Bank of Nova Scotia is a major Canadian multinational bank providing retail, commercial, and investment banking services across Canada and international markets. It generates revenue primarily through net interest income from lending activities (about 60% of total revenue) and non-interest income from wealth management, capital markets, and transaction fees. Its key competitive advantage is its extensive international banking network across Latin America and the Caribbean—often called the "Pacific Alliance" strategy—which provides geographic diversification and growth opportunities beyond the mature Canadian market.
Citigroup is a global financial services giant operating through two main divisions: Global Consumer Banking serving retail customers and Institutional Clients Group serving corporations and institutions. It generates revenue primarily from interest income on loans and securities (about 60%) and non-interest income from investment banking, trading, and card fees (about 40%). The company's key advantage is its unparalleled global network spanning nearly 100 countries—particularly strong in emerging markets—which provides unique cross-border banking capabilities for multinational clients.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
C leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). BNS leads in 2 (Financial Metrics, Risk & Volatility). 1 tied.
Financial Metrics (TTM)
C is the larger business by revenue, generating $170.7B annually — 2.3x BNS's $73.2B. Profitability is closely matched — net margins range from 10.6% (BNS) to 7.4% (C).
| Metric | BNSThe Bank of Nova … | CCitigroup Inc. |
|---|---|---|
| RevenueTrailing 12 months | $73.2B | $170.7B |
| EBITDAEarnings before interest/tax | $12.1B | $24.1B |
| Net IncomeAfter-tax profit | $7.8B | $14.7B |
| Free Cash FlowCash after capex | $5.1B | -$76.0B |
| Gross MarginGross profit ÷ Revenue | +44.3% | +41.7% |
| Operating MarginEBIT ÷ Revenue | +14.4% | +10.0% |
| Net MarginNet income ÷ Revenue | +10.6% | +7.4% |
| FCF MarginFCF ÷ Revenue | +6.9% | -15.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +35.2% | +23.2% |
Valuation Metrics
At 18.2x trailing earnings, BNS trades at a 2% valuation discount to C's 18.5x P/E. On an enterprise value basis, C's 23.7x EV/EBITDA is more attractive than BNS's 46.7x.
| Metric | BNSThe Bank of Nova … | CCitigroup Inc. |
|---|---|---|
| Market CapShares × price | $93.7B | $192.6B |
| Enterprise ValueMkt cap + debt − cash | $413.7B | $506.6B |
| Trailing P/EPrice ÷ TTM EPS | 18.22x | 18.52x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.29x | 10.69x |
| PEG RatioP/E ÷ EPS growth rate | 12.74x | — |
| EV / EBITDAEnterprise value multiple | 46.74x | 23.72x |
| Price / SalesMarket cap ÷ Revenue | 1.75x | 1.13x |
| Price / BookPrice ÷ Book value/share | 1.46x | 1.00x |
| Price / FCFMarket cap ÷ FCF | 25.33x | — |
Profitability & Efficiency
BNS delivers a 8.8% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $7 for C. C carries lower financial leverage with a 2.82x debt-to-equity ratio, signaling a more conservative balance sheet compared to BNS's 5.69x. On the Piotroski fundamental quality scale (0–9), C scores 5/9 vs BNS's 3/9, reflecting solid financial health.
| Metric | BNSThe Bank of Nova … | CCitigroup Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +8.8% | +6.9% |
| ROA (TTM)Return on assets | +0.5% | +0.6% |
| ROICReturn on invested capital | +1.6% | +1.6% |
| ROCEReturn on capital employed | +1.9% | +3.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | 5.69x | 2.82x |
| Net DebtTotal debt minus cash | $438.1B | $314.0B |
| Cash & Equiv.Liquid assets | $66.0B | $276.5B |
| Total DebtShort + long-term debt | $504.0B | $590.6B |
| Interest CoverageEBIT ÷ Interest expense | 0.28x | 0.24x |
Total Returns (with DRIP)
A $10,000 investment in C five years ago would be worth $17,396 today (with dividends reinvested), compared to $15,258 for BNS. Over the past 12 months, BNS leads with a +58.9% total return vs C's +40.8%. The 3-year compound annual growth rate (CAGR) favors C at 32.1% vs BNS's 19.8% — a key indicator of consistent wealth creation.
| Metric | BNSThe Bank of Nova … | CCitigroup Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +2.7% | -6.6% |
| 1-Year ReturnPast 12 months | +58.9% | +40.8% |
| 3-Year ReturnCumulative with dividends | +72.0% | +130.6% |
| 5-Year ReturnCumulative with dividends | +52.6% | +74.0% |
| 10-Year ReturnCumulative with dividends | +159.2% | +230.3% |
| CAGR (3Y)Annualised 3-year return | +19.8% | +32.1% |
Risk & Volatility
BNS is the less volatile stock with a 0.39 beta — it tends to amplify market swings less than C's 1.30 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. BNS currently trades 96.8% from its 52-week high vs C's 88.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BNSThe Bank of Nova … | CCitigroup Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.39x | 1.30x |
| 52-Week HighHighest price in past year | $78.28 | $125.16 |
| 52-Week LowLowest price in past year | $44.09 | $55.51 |
| % of 52W HighCurrent price vs 52-week peak | +96.8% | +88.1% |
| RSI (14)Momentum oscillator 0–100 | 57.2 | 51.7 |
| Avg Volume (50D)Average daily shares traded | 1.7M | 11.9M |
Analyst Outlook
Wall Street rates BNS as "Buy" and C as "Buy". Consensus price targets imply 19.8% upside for C (target: $132) vs -4.8% for BNS (target: $72). For income investors, BNS offers the higher dividend yield at 4.16% vs C's 2.48%.
| Metric | BNSThe Bank of Nova … | CCitigroup Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $72.15 | $132.09 |
| # AnalystsCovering analysts | 19 | 26 |
| Dividend YieldAnnual dividend ÷ price | +4.2% | +2.5% |
| Dividend StreakConsecutive years of raises | 1 | 3 |
| Dividend / ShareAnnual DPS | $4.31 | $2.73 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.7% | +3.9% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| The Bank of Nova Sc… (BNS) | 100 | 143.65 | +43.6% |
| Citigroup Inc. (C) | 100 | 183.15 | +83.2% |
Citigroup Inc. (C) returned +74% over 5 years vs The Bank of Nova Sc… (BNS)'s +53%. A $10,000 investment in C 5 years ago would be worth $17,396 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| The Bank of Nova Sc… (BNS) | $25.9B | $73.2B | +182.1% |
| Citigroup Inc. (C) | $83.3B | $170.7B | +104.9% |
The Bank of Nova Scotia's revenue grew from $25.9B (2016) to $73.2B (2025) — a 12.2% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| The Bank of Nova Sc… (BNS) | 27.4% | 10.6% | -61.2% |
| Citigroup Inc. (C) | 17.9% | 7.4% | -58.5% |
The Bank of Nova Scotia's net margin went from 27% (2016) to 11% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| The Bank of Nova Sc… (BNS) | 9.9 | 13 | +31.3% |
| Citigroup Inc. (C) | 7.8 | 11.8 | +51.3% |
The Bank of Nova Scotia has traded in a 6x–13x P/E range over 9 years; current trailing P/E is ~18x. Citigroup Inc. has traded in a 6x–13x P/E range over 7 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| The Bank of Nova Sc… (BNS) | 5.77 | 5.69 | -1.4% |
| Citigroup Inc. (C) | 4.74 | 5.95 | +25.5% |
The Bank of Nova Scotia's EPS grew from $5.77 (2016) to $5.69 (2025) — a -0% CAGR.
Chart 6Free Cash Flow — 5 Years
The Bank of Nova Scotia generated $5B FCF in 2025 (+138% vs 2021). Citigroup Inc. generated $-26B FCF in 2024 (-161% vs 2021).
BNS vs C: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is BNS or C a better buy right now?
The Bank of Nova Scotia (BNS) offers the better valuation at 18.2x trailing P/E (9.3x forward), making it the more compelling value choice. Analysts rate The Bank of Nova Scotia (BNS) a "Buy" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BNS or C?
On trailing P/E, The Bank of Nova Scotia (BNS) is the cheapest at 18.2x versus Citigroup Inc. at 18.5x. On forward P/E, The Bank of Nova Scotia is actually cheaper at 9.3x.
03Which is the better long-term investment — BNS or C?
Over the past 5 years, Citigroup Inc. (C) delivered a total return of +74.0%, compared to +52.6% for The Bank of Nova Scotia (BNS). A $10,000 investment in C five years ago would be worth approximately $17K today (assuming dividends reinvested). Over 10 years, the gap is even starker: C returned +230.3% versus BNS's +159.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BNS or C?
By beta (market sensitivity over 5 years), The Bank of Nova Scotia (BNS) is the lower-risk stock at 0.39β versus Citigroup Inc.'s 1.30β — meaning C is approximately 231% more volatile than BNS relative to the S&P 500. On balance sheet safety, Citigroup Inc. (C) carries a lower debt/equity ratio of 3% versus 6% for The Bank of Nova Scotia — giving it more financial flexibility in a downturn.
05Which has better profit margins — BNS or C?
The Bank of Nova Scotia (BNS) is the more profitable company, earning 10.6% net margin versus 7.4% for Citigroup Inc. — meaning it keeps 10.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BNS leads at 14.4% versus 10.0% for C. At the gross margin level — before operating expenses — BNS leads at 44.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is BNS or C more undervalued right now?
On forward earnings alone, The Bank of Nova Scotia (BNS) trades at 9.3x forward P/E versus 10.7x for Citigroup Inc. — 1.4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for C: 19.8% to $132.09.
07Which pays a better dividend — BNS or C?
All stocks in this comparison pay dividends. The Bank of Nova Scotia (BNS) offers the highest yield at 4.2%, versus 2.5% for Citigroup Inc. (C).
08Is BNS or C better for a retirement portfolio?
For long-horizon retirement investors, The Bank of Nova Scotia (BNS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.39), 4.2% yield, +159.2% 10Y return). Both have compounded well over 10 years (BNS: +159.2%, C: +230.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between BNS and C?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BNS is a mid-cap income-oriented stock; C is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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