The Toronto-Dominion Bank (TD) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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The Toronto-Dominion Bank (TD) stock price & volume — 10-year historical chart
The Toronto-Dominion Bank (TD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
The Toronto-Dominion Bank (TD) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 28, 2026 | $1.74vs $1.63+6.7% | $11.8Bvs $11.0B+6.8% |
| Q1 2026 | Feb 26, 2026 | $1.76vs $1.63+8.0% | $11.0Bvs $10.7B+3.4% |
| Q4 2025 | Dec 4, 2025 | $1.57vs $1.46+7.5% | $15.9Bvs $10.4B+53.2% |
| Q3 2025 | Aug 28, 2025 | $1.91vs $1.46+30.8% | $15.5Bvs $10.0B+54.3% |
The Toronto-Dominion Bank (TD) competitors in North American universal banks — business model, growth, and fundamentals comparison
The Toronto-Dominion Bank (TD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
The Toronto-Dominion Bank (TD) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Oct'17 | Oct'18 | Oct'19 | Oct'20 | Oct'21 | Oct'22 | Oct'23 | Oct'24 | Oct'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Net Interest Income | 20.85B | 22.24B | 23.82B | 24.5B | 24.13B | 27.35B | 29.94B | 30.47B | 33.06B | 34.73B |
NII Growth % | 4.64% | 6.68% | 7.11% | 2.84% | -1.49% | 13.35% | 9.47% | 1.76% | 8.5% | 41.05% |
Net Interest Margin % | 1.63% | 1.67% | 1.68% | 1.43% | 1.4% | 1.43% | 1.53% | 1.48% | 1.58% | 1.67% |
Interest Income | 29.83B | 36.42B | 41.94B | 35.83B | 29.58B | 41.03B | 80.67B | 93.39B | 87.62B | 83.87B |
Interest Expense | 8.98B | 14.18B | 18.12B | 11.34B | 5.45B | 13.68B | 50.73B | 62.92B | 54.56B | 49.14B |
Loan Loss Provision | 2.22B | 2.48B | 3.03B | 7.24B | -224M | 1.07B | 2.93B | 4.25B | 4.5B | 3.99B |
Non-Interest Income | 14.99B | 16.29B | 16.91B | 18.79B | 18.14B | 18.41B | 21.58B | 25.78B | 28.22B | 28.76B |
Non-Interest Income % | 33.45% | 30.91% | 28.73% | 34.4% | 38.01% | 30.97% | 21.1% | 21.64% | 24.36% | 25.53% |
Total Revenue | 44.83B▲ 0% | 52.72B▲ 17.6% | 58.85B▲ 11.6% | 54.62B▼ 7.2% | 47.72B▼ 12.6% | 59.44B▲ 24.6% | 102.25B▲ 72.0% | 119.17B▲ 16.5% | 115.84B▼ 2.8% | 112.63B▲ 0% |
Revenue Growth % | 10.31% | 17.6% | 11.64% | -7.19% | -12.64% | 24.57% | 72.03% | 16.55% | -2.8% | -22.3% |
Non-Interest Expense | 21.3B | 22.28B | 24.47B | 24.13B | 25.36B | 23.28B | 34.84B | 40.47B | 32.83B | 40.95B |
Efficiency Ratio | 47.53% | 42.26% | 41.58% | 44.17% | 53.14% | 39.16% | 34.07% | 33.96% | 28.34% | 36.36% |
Operating Income | 12.32B▲ 0% | 13.77B▲ 11.8% | 13.23B▼ 3.9% | 11.91B▼ 9.9% | 17.13B▲ 43.8% | 21.41B▲ 25.0% | 13.75B▼ 35.8% | 11.53B▼ 16.1% | 23.95B▲ 107.6% | 18.55B▲ 0% |
Operating Margin % | 27.49% | 26.13% | 22.48% | 21.81% | 35.91% | 36.03% | 13.45% | 9.68% | 20.67% | 16.47% |
Operating Income Growth % | 15.73% | 11.78% | -3.95% | -9.94% | 43.81% | 24.99% | -35.78% | -16.14% | 107.65% | - |
Pretax Income | 12.32B▲ 0% | 13.77B▲ 11.8% | 13.23B▼ 3.9% | 11.91B▼ 9.9% | 17.13B▲ 43.8% | 21.41B▲ 25.0% | 13.75B▼ 35.8% | 11.53B▼ 16.1% | 23.95B▲ 107.6% | 18.55B▲ 0% |
Pretax Margin % | 27.49% | 26.13% | 22.48% | 21.81% | 35.91% | 36.03% | 13.45% | 9.68% | 20.67% | 16.47% |
Income Tax | 2.25B | 3.18B | 2.73B | 1.15B | 3.62B | 3.99B | 3.12B | 2.69B | 3.41B | 3.63B |
Effective Tax Rate % | 18.29% | 23.1% | 20.67% | 9.67% | 21.13% | 18.61% | 22.67% | 23.33% | 14.24% | 19.58% |
Net Income | 10.4B▲ 0% | 11.26B▲ 8.3% | 11.67B▲ 3.6% | 11.89B▲ 1.9% | 14.3B▲ 20.2% | 17.43B▲ 21.9% | 10.63B▼ 39.0% | 8.84B▼ 16.9% | 20.54B▲ 132.3% | 14.91B▲ 0% |
Net Margin % | 23.19% | 21.36% | 19.83% | 21.78% | 29.96% | 29.32% | 10.4% | 7.42% | 17.73% | 13.24% |
Net Income Growth % | 17.86% | 8.33% | 3.6% | 1.95% | 20.2% | 21.9% | -38.99% | -16.85% | 132.28% | -14.16% |
Net Income (Continuing) | 10.07B | 10.59B | 10.49B | 10.76B | 13.51B | 17.43B | 10.63B | 8.84B | 20.54B | 14.91B |
EPS (Diluted) | 5.50▲ 0% | 6.01▲ 9.3% | 6.25▲ 4.0% | 6.43▲ 2.9% | 7.72▲ 20.1% | 9.47▲ 22.7% | 5.52▼ 41.7% | 4.72▼ 14.5% | 11.56▲ 144.9% | 12.17▲ 0% |
EPS Growth % | 17.77% | 9.27% | 3.99% | 2.88% | 20.06% | 22.67% | -41.71% | -14.49% | 144.92% | -12.14% |
EPS (Basic) | 5.51 | 6.02 | 6.26 | 6.43 | 7.73 | 9.48 | 5.53 | 4.73 | 11.57 | - |
Diluted Shares Outstanding | 1.85B | 1.84B | 1.83B | 1.81B | 1.82B | 1.81B | 1.82B | 1.76B | 1.72B | 1.23B |
The Toronto-Dominion Bank (TD) balance sheet — assets, liabilities & shareholders' equity
| Metric | Oct'17 | Oct'18 | Oct'19 | Oct'20 | Oct'21 | Oct'22 | Oct'23 | Oct'24 | Oct'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash & Short Term Investments | 201.57B | 53.97B | 52.57B | 195.5B | 194.67B | 156.98B | 116.51B | 230.49B | 156.06B | 414.72B |
Cash & Due from Banks | 55.16B | 35.45B | 30.45B | 170.59B | 165.89B | 145.85B | 105.07B | 178.02B | 116.93B | 7.1B |
Short Term Investments | 146.41B | 18.51B | 22.12B | 24.91B | 28.78B | 11.13B | 11.44B | 52.47B | 39.13B | 0 |
Total Investments | 898.38B | 957.24B | 994.96B | 1.17T | 1.18T | 1.4T | 1.41T | 1.46T | 1.47T | 1.99T |
Investments Growth % | 0.98% | 6.55% | 3.94% | 17.54% | 1.22% | 18.69% | 0.19% | 3.77% | 0.78% | 52.54% |
Long-Term Investments | 755.75B | 942.27B | 977.29B | 1.14T | 1.15T | 1.4T | 1.4T | 1.41T | 1.43T | 6.05T |
Accounts Receivables | 9.88B | 11.28B | 11.55B | 13.13B | 11.34B | 14.53B | 19.4B | 18.44B | 15.04B | 0 |
Goodwill & Intangibles | 18.77B | 19B | 19.48B | 19.27B | 18.36B | 19.96B | 21.37B | 21.89B | 22.39B | 22.08B |
Goodwill | 16.16B | 16.54B | 16.98B | 17.15B | 16.23B | 17.66B | 18.6B | 18.85B | 18.98B | 18.45B |
Intangible Assets | 2.62B | 2.46B | 2.5B | 2.13B | 2.12B | 2.3B | 2.77B | 3.04B | 3.41B | 3.62B |
PP&E (Net) | 5.31B | 5.32B | 5.51B | 10.14B | 9.18B | 9.4B | 9.43B | 9.84B | 10.13B | 9.98B |
Other Assets | 257.19B | 274.29B | 327.2B | 293.43B | 308.77B | 293.54B | 358.69B | 339.95B | 419.62B | 46.14B |
Total Current Assets | 243.25B | 94.75B | 88.46B | 246.03B | 241.53B | 198.63B | 172.6B | 276.9B | 204.11B | 12.43B |
Total Non-Current Assets | 1.04T | 1.24T | 1.33T | 1.47T | 1.49T | 1.72T | 1.78T | 1.78T | 1.89T | 2.07T |
Total Assets | 1.28T▲ 0% | 1.33T▲ 4.4% | 1.42T▲ 6.0% | 1.72T▲ 21.2% | 1.73T▲ 0.7% | 1.92T▲ 10.9% | 1.96T▲ 2.0% | 2.06T▲ 5.5% | 2.09T▲ 1.6% | 2.08T▲ 0% |
Asset Growth % | 8.67% | 4.37% | 6.02% | 21.24% | 0.75% | 10.92% | 1.96% | 5.45% | 1.59% | 6.46% |
Return on Assets (ROA) | 0.85% | 0.86% | 0.85% | 0.76% | 0.83% | 0.96% | 0.55% | 0.44% | 0.99% | 0.72% |
Accounts Payable | 38.33B | 34.63B | 30.3B | 42.86B | 37.21B | 32.1B | 43.61B | 39.86B | 41.04B | 0 |
Total Debt | 322.56B | 358.24B | 406.69B | 447.37B | 400.86B | 502.06B | 568.66B | 662.56B | 663.58B | 275.49B |
Net Debt | 267.41B | 322.78B | 376.24B | 276.78B | 234.97B | 356.21B | 463.59B | 484.54B | 546.65B | 268.39B |
Long-Term Debt | 143.23B | 157.88B | 169.9B | 162.11B | 122.2B | 152.74B | 178.86B | 204.33B | 225.33B | 41.11B |
Short-Term Debt | 179.34B | 200.36B | 236.72B | 279.17B | 273.19B | 344B | 384.75B | 453.22B | 432.89B | 229.09B |
Other Liabilities | 86.74B | 81.65B | 81.41B | 89.22B | 93.3B | 135.33B | 119.65B | 103.45B | 94.3B | 1.68T |
Total Current Liabilities | 973.66B | 1.02T | 1.08T | 1.36T | 1.41T | 1.51T | 1.54T | 1.63T | 1.64T | 229.09B |
Total Non-Current Liabilities | 230.15B | 239.7B | 251.56B | 257.71B | 221.22B | 293.62B | 303.76B | 313.1B | 325.29B | 1.73T |
Total Liabilities | 1.2T | 1.25T | 1.33T | 1.62T | 1.63T | 1.81T | 1.84T | 1.95T | 1.97T | 1.96T |
Total Equity | 75.19B▲ 0% | 80.04B▲ 6.5% | 87.7B▲ 9.6% | 95.5B▲ 8.9% | 99.82B▲ 4.5% | 111.38B▲ 11.6% | 112.07B▲ 0.6% | 115.16B▲ 2.8% | 127.83B▲ 11.0% | 124.28B▲ 0% |
Equity Growth % | 1.32% | 6.45% | 9.57% | 8.89% | 4.52% | 11.59% | 0.62% | 2.76% | 11% | 27.65% |
Equity / Assets (Capital Ratio) | 5.88% | 6% | 6.2% | 5.57% | 5.77% | 5.81% | 5.73% | 5.59% | 6.1% | 5.96% |
Return on Equity (ROE) | 13.92% | 14.51% | 13.91% | 12.99% | 14.64% | 16.5% | 9.52% | 7.78% | 16.9% | 11.85% |
Book Value per Share | 40.54 | 43.51 | 47.99 | 52.80 | 54.84 | 61.42 | 61.43 | 65.43 | 74.37 | 101.43 |
Tangible BV per Share | 30.42 | 33.19 | 37.33 | 42.14 | 44.75 | 50.41 | 49.71 | 52.99 | 61.34 | 83.41 |
Common Stock | 20.93B | 21.22B | 21.71B | 22.49B | 23.07B | 24.36B | 25.43B | 25.37B | 24.73B | 24.3B |
Additional Paid-in Capital | 214M | 193M | 157M | 121M | 173M | 179M | 155M | 204M | 285M | 360.88M |
Retained Earnings | 40.49B | 46.15B | 49.5B | 53.84B | 63.94B | 73.7B | 73.01B | 70.83B | 78.32B | 78.27B |
Accumulated OCI | 8.01B | 6.64B | 10.58B | 13.44B | 7.1B | 1.99B | 2.75B | 7.9B | 12.87B | 9.8B |
Treasury Stock | -183M | -151M | -47M | -41M | -162M | -98M | -129M | -35M | -4M | -73.98M |
Preferred Stock | 4.75B | 5B | 5.8B | 5.65B | 5.7B | 11.25B | 10.85B | 10.89B | 11.63B | 11.62B |
The Toronto-Dominion Bank (TD) cash flow — operating, investing & free cash flow history
| Metric | Oct'17 | Oct'18 | Oct'19 | Oct'20 | Oct'21 | Oct'22 | Oct'23 | Oct'24 | Oct'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 26.13B | 5.69B | 830M | 229.61B | 50.13B | 38.95B | -65.3B | 54.94B | -69.65B | -69.65B |
Operating CF Growth % | -30.14% | -78.21% | -85.42% | 27563.49% | -78.17% | -22.3% | -267.66% | 184.13% | -226.77% | -67.17% |
Net Income | 12.77B | 14.52B | 11.69B | 11.89B | 14.3B | 17.43B | 10.63B | 8.84B | 20.54B | 14.91B |
Depreciation & Amortization | 1.31B | 1.39B | 1.41B | 2.14B | 2.07B | 1.77B | 1.91B | 2.03B | 2.17B | 1.1B |
Deferred Taxes | 175M | 385M | -33M | -1.06B | 258M | 502M | -1.31B | -1.06B | -764M | -237M |
Other Non-Cash Items | 1.44B | 1.63B | 1.76B | 4.58B | -1.02B | -981M | 2.12B | 2.89B | -3.01B | 6B |
Working Capital Changes | 10.44B | -12.22B | -13.99B | 212.06B | 34.53B | 20.23B | -78.66B | 42.24B | -88.58B | -6.38B |
Cash from Investing | -18.93B | 1.55B | 4.95B | -223.32B | -45.27B | -31.89B | 76.23B | -45.42B | 86.19B | -2.1B |
Purchase of Investments | -83.62B | -71.93B | -76.1B | -197.27B | -174.95B | -180.69B | -51.32B | -53.85B | -130.62B | -121.53B |
Sale/Maturity of Investments | 64.72B | 53.6B | 77.8B | 113.48B | 133.4B | 117.32B | 88.57B | 78.33B | 136.58B | 106B |
Net Investment Activity | -18.9B | -18.33B | 1.7B | -83.79B | -41.55B | -63.38B | 37.25B | 24.48B | 5.96B | -15.54B |
Acquisitions | -2.13B | 0 | -540M | 0 | -1.86B | 2.48B | -624M | 3.42B | 20.78B | 157M |
Other Investing | 2.53B | 20.46B | 5.17B | -138.27B | -729M | 30.45B | 41.45B | -71.15B | 61.59B | 15.65B |
Cash from Financing | -7.04B | -6.53B | -5.65B | -4.75B | -5.04B | -4.82B | -12.85B | -9.81B | -15.5B | -12.83B |
Dividends Paid | -4.21B | -4.63B | -5.16B | -3.66B | -5.55B | -6.67B | -5.83B | -7.16B | -7.66B | -7.75B |
Share Repurchases | -11.23B | -10.43B | -12.17B | -9.88B | -11.06B | -14.3B | -13.23B | -17.13B | -20.84B | -22.28B |
Stock Issued | 9.83B | 8.58B | 10.12B | 8.92B | 11.09B | 11.28B | 8.57B | 12.05B | 14.84B | 13.86B |
Net Stock Activity | -1.4B | -1.84B | -2.05B | -960M | 24M | -3.03B | -4.66B | -5.08B | -5.99B | -8.42B |
Debt Issuance (Net) | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -2M |
Other Financing | -738M | -72M | -1.01B | 0 | 0 | 1B | 400M | 1.3B | 0 | -21.6B |
Net Change in Cash | 64M▲ 0% | 764M▲ 1093.8% | 128M▼ 83.2% | 1.58B▲ 1135.9% | -514M▼ 132.5% | 2.63B▲ 610.7% | -1.83B▼ 169.9% | -284M▲ 84.5% | 1.07B▲ 478.5% | 786M▲ 0% |
Exchange Rate Effect | -94M | 49M | 3M | 40M | -339M | 390M | 88M | 14M | 34M | 1.54B |
Cash at Beginning | 3.91B | 3.97B | 4.74B | 4.86B | 6.45B | 5.93B | 8.56B | 6.72B | 6.44B | 0 |
Cash at End | 3.97B | 4.74B | 4.86B | 6.45B | 5.93B | 8.56B | 6.72B | 6.44B | 7.51B | 0 |
Interest Paid | 8.96B | 13.89B | 18.01B | 11.59B | 5.88B | 12.52B | 48.18B | 61.78B | 55.47B | 38.02B |
Income Taxes Paid | 2.87B | 3.54B | 3.59B | 2.29B | 4.07B | 4.4B | 3.04B | 3.81B | 4.33B | 3.04B |
Free Cash Flow | 25.69B▲ 0% | 5.11B▼ 80.1% | -555M▼ 110.9% | 228.35B▲ 41243.4% | 49B▼ 78.5% | 37.49B▼ 23.5% | -67.15B▼ 279.1% | 52.76B▲ 178.6% | -71.79B▼ 236.1% | 13.03B▲ 0% |
FCF Growth % | -29.81% | -80.13% | -110.87% | 41243.42% | -78.54% | -23.48% | -279.08% | 178.57% | -236.07% | -55.09% |
The Toronto-Dominion Bank (TD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 13.92% | 14.51% | 13.91% | 12.99% | 14.64% | 16.5% | 9.52% | 7.78% | 16.9% | 11.85% |
| Return on Assets (ROA) | 0.85% | 0.86% | 0.85% | 0.76% | 0.83% | 0.96% | 0.55% | 0.44% | 0.99% | 0.72% |
| Net Interest Margin | 1.63% | 1.67% | 1.68% | 1.43% | 1.4% | 1.43% | 1.53% | 1.48% | 1.58% | 1.67% |
| Efficiency Ratio | 47.53% | 42.26% | 41.58% | 44.17% | 53.14% | 39.16% | 34.07% | 33.96% | 28.34% | 36.36% |
| Equity / Assets | 5.88% | 6% | 6.2% | 5.57% | 5.77% | 5.81% | 5.73% | 5.59% | 6.1% | 5.96% |
| Book Value / Share | 40.54 | 43.51 | 47.99 | 52.8 | 54.84 | 61.42 | 61.43 | 65.43 | 74.37 | 101.43 |
| NII Growth | 4.64% | 6.68% | 7.11% | 2.84% | -1.49% | 13.35% | 9.47% | 1.76% | 8.5% | 10.23% |
| Dividend Payout | 40.51% | 41.15% | 44.2% | 30.77% | 38.85% | 38.24% | 54.78% | 80.98% | 37.31% | 51.99% |
The Toronto-Dominion Bank (TD) stock FAQ — growth, dividends, profitability & financials explained
The Toronto-Dominion Bank (TD) saw revenue decline by 2.8% over the past year.
Yes, The Toronto-Dominion Bank (TD) is profitable, generating $14.91B in net income for fiscal year 2025 (17.7% net margin).
Yes, The Toronto-Dominion Bank (TD) pays a dividend with a yield of 2.86%. This makes it attractive for income-focused investors.
The Toronto-Dominion Bank (TD) has a return on equity (ROE) of 16.9%. This is reasonable for most industries.
The Toronto-Dominion Bank (TD) has a net interest margin (NIM) of 1.6%. NIM has been under pressure due to interest rate environment.
The Toronto-Dominion Bank (TD) has an efficiency ratio of 28.3%. This is excellent, indicating strong cost control.