Last 47 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
The Bank of Nova Scotia's quarterly P/E stands at 9.9x, down 5.8% year-over-year. EV/EBITDA has expanded 43.1% YoY to 39.8x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 18.22 | 9.94 | 7.56 | 8.44 | 19.38 | 10.55 | 8.27 | 7.31 | 6.96 | 9.82 | 7.32 | 7.38 | 9.95 |
| — | -5.8% | -8.7% | +15.5% | +178.6% | +7.4% | +13.0% | -1.0% | -30.1% | +28.5% | +1.4% | +3.5% | +23.3% | |
| P/S Ratio | 1.75 | 1.12 | 0.96 | 0.87 | 0.84 | 0.84 | 0.75 | 0.76 | 1.70 | 1.55 | 1.90 | 1.90 | 2.04 |
| — | +33.2% | +28.9% | +14.3% | -50.7% | -45.6% | -60.7% | -60.0% | -16.5% | -19.1% | -19.5% | -21.5% | -26.7% | |
| P/B Ratio | 1.46 | 0.92 | 0.81 | 0.72 | 0.74 | 0.76 | 0.69 | 0.70 | 0.71 | 0.62 | 0.79 | 0.76 | 0.86 |
| — | +21.9% | +16.9% | +3.5% | +4.3% | +21.4% | -12.0% | -8.4% | -17.2% | -19.6% | -21.1% | -28.2% | -28.4% | |
| P/FCF | 25.33 | — | 4.01 | 6.60 | 3.38 | 2.25 | 2.06 | — | 6.63 | 2.67 | 0.66 | — | 1.00 |
| — | — | +94.3% | — | -49.0% | -15.7% | +212.2% | — | +566.4% | — | — | — | -10.4% | |
| EV / EBITDA | 46.74 | 39.80 | 32.14 | 40.37 | 35.25 | 27.80 | 29.95 | 126.94 | 23.63 | 32.72 | 23.94 | 6.04 | 6.13 |
| — | +43.1% | +7.3% | -68.2% | +49.2% | -15.0% | +25.1% | +2003.4% | +285.7% | +307.1% | +169.9% | -41.3% | -40.9% | |
| EV / EBIT | 53.88 | 45.40 | 36.02 | 46.54 | 56.42 | 38.75 | 36.13 | — | 27.52 | 45.27 | 27.97 | — | — |
| — | +17.2% | -0.3% | — | +105.0% | -14.4% | +29.2% | — | — | — | +28.5% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
The Bank of Nova Scotia's operating margin was 15.7% in Q4 2025, down 3.0 pp QoQ. The trailing four-quarter average of 14.5% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 591.1% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.3% | 46.5% | 46.2% | 42.0% | 42.5% | -9.5% | -9.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | +591.1% | +588.8% | -58.0% | -57.5% | -109.5% | -109.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin | 14.4% | 15.7% | 18.7% | 14.3% | 9.2% | — | 10.8% | 0.2% | 32.3% | 18.8% | 33.5% | 152.9% | 143.5% |
| — | — | +73.8% | +8481.5% | -71.6% | — | -67.8% | -99.9% | -77.5% | -84.2% | -64.7% | +96.7% | +102.6% | |
| Net Margin | 10.6% | 12.2% | 13.6% | 11.0% | 6.0% | 8.7% | 9.7% | 11.1% | 25.9% | 17.1% | 27.0% | 27.0% | 21.6% |
| — | +40.2% | +40.0% | -1.1% | -76.8% | -49.1% | -64.0% | -58.7% | +20.0% | -37.0% | -17.5% | -20.6% | -35.2% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.0% | 2.5% | 2.8% | 2.3% | 1.3% | 2.0% | 2.3% | 2.6% | 2.7% | 1.7% | 2.8% | 2.7% | 2.3% |
| — | +29.9% | +24.6% | -10.7% | -50.8% | +13.4% | -17.7% | -6.9% | +19.5% | -37.5% | -20.5% | -24.9% | -36.7% | |
| ROA | 0.5% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% | 0.2% | 0.2% | 0.1% |
| — | +32.3% | +29.1% | -6.5% | -48.1% | +20.9% | -14.7% | -4.2% | +22.7% | -38.0% | -20.3% | -26.7% | -42.1% | |
| ROIC | 1.6% | 0.4% | 0.4% | 0.4% | 0.3% | — | 0.5% | 0.0% | 0.5% | 0.3% | 0.5% | 2.4% | 2.2% |
| — | — | -1.6% | +5885.1% | -35.7% | — | -12.2% | -99.7% | -76.6% | -84.9% | -67.9% | +75.6% | +72.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The Bank of Nova Scotia's Debt/EBITDA ratio is 154.4x, up from 128.7x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.69 | 5.69 | 5.66 | 5.55 | 3.58 | 3.58 | 3.61 | 2.79 | 3.80 | 3.99 | 4.20 | 3.86 | 4.04 |
| — | +59.1% | +56.9% | +98.9% | -5.9% | -10.4% | -14.0% | -27.8% | -6.0% | -4.1% | +14.9% | +0.6% | +15.1% | |
| Debt / EBITDA | 41.61 | 154.37 | 128.70 | 161.93 | 143.91 | 111.32 | 120.07 | 512.89 | 97.77 | 150.73 | 105.19 | 24.47 | 25.90 |
| — | +38.7% | +7.2% | -68.4% | +47.2% | -26.1% | +14.2% | +1995.7% | +277.5% | +356.8% | +202.7% | -42.6% | -40.1% | |
| Current Ratio | 0.12 | 0.12 | 0.19 | 0.19 | — | — | 1.60 | 0.63 | 1.44 | 0.24 | 1.27 | 1.08 | 1.20 |
| — | — | -88.3% | -70.2% | — | — | +26.0% | -42.2% | +20.3% | -74.4% | -9.1% | -29.5% | -22.1% | |
| Quick Ratio | 0.12 | 0.12 | 0.19 | 0.19 | — | — | 1.60 | 0.63 | 1.44 | 0.24 | 1.27 | 1.08 | 1.20 |
| — | — | -88.3% | -70.2% | — | — | +26.0% | -42.2% | +20.3% | -74.4% | -9.1% | -29.5% | -22.1% | |
| Interest Coverage | 0.29 | 0.33 | 0.39 | 0.29 | 0.18 | — | 0.19 | 0.00 | 0.25 | 0.14 | 0.27 | 1.28 | 1.33 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonThe Bank of Nova Scotia's current P/E is 18.2x. The average P/E over the last 4 quarters is 11.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
The Bank of Nova Scotia's current operating margin is 14.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking The Bank of Nova Scotia's business trajectory between earnings reports.