Last 48 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 14.67 | 10.82 | 11.08 | 9.95 | 11.41 | 9.64 | 2.54 | 9.20 | 7.05 | — | 10.99 | 9.80 | 9.37 | 10.77 | 8.97 | 21.10 | 4.42 | 9.28 | 8.72 | 9.90 | 8.89 |
| — | +12.3% | +335.7% | +8.0% | +61.8% | — | -76.9% | -6.0% | -24.8% | — | +22.5% | -53.6% | +112.0% | +16.1% | +2.8% | +113.1% | -50.3% | +7.3% | +1.0% | +23.9% | +125.0% | |
| P/S Ratio | 4.67 | 2.09 | 2.07 | 1.78 | 2.22 | 2.02 | 1.85 | 1.68 | 1.64 | 1.83 | 1.90 | 1.98 | 1.93 | 2.33 | 2.23 | 2.43 | 2.43 | 2.55 | 2.98 | 3.27 | 3.05 |
| — | +3.2% | +12.1% | +6.3% | +35.1% | +10.7% | -2.7% | -15.3% | -15.0% | -21.7% | -14.6% | -18.5% | -20.6% | -8.5% | -25.4% | -25.7% | -20.3% | -10.6% | -3.4% | +36.3% | +67.8% | |
| P/B Ratio | 2.28 | 1.11 | 1.06 | 0.92 | 1.10 | 1.00 | 0.88 | 0.84 | 0.84 | 0.92 | 0.93 | 0.96 | 0.90 | 1.07 | 0.96 | 1.13 | 1.04 | 1.14 | 1.31 | 1.43 | 1.32 |
| — | +11.3% | +20.5% | +9.4% | +31.2% | +8.0% | -5.7% | -12.6% | -6.5% | -14.0% | -2.2% | -14.9% | -13.6% | -6.1% | -27.3% | -21.2% | -21.3% | -5.6% | -0.7% | +32.9% | +57.6% | |
| P/FCF | — | — | 3.23 | 0.82 | — | — | 2.46 | — | 0.31 | — | 5.39 | — | 1.81 | — | — | 6.78 | 13.63 | 1.57 | — | 1.28 | 1.70 |
| — | — | +31.6% | — | — | — | -54.4% | — | -83.0% | — | — | — | -86.7% | — | — | +427.6% | +701.1% | -85.7% | — | +126.8% | +85.4% | |
| EV / EBITDA | 31.90 | 16.79 | 17.92 | 17.17 | 36.79 | 33.12 | 11.72 | 38.31 | 30.84 | 167.87 | 42.86 | 39.35 | 36.54 | 37.71 | 32.55 | 50.42 | 14.50 | 26.93 | 21.61 | 20.74 | 18.57 |
| — | -49.3% | +52.9% | -55.2% | +19.3% | -80.3% | -72.7% | -2.6% | -15.6% | +345.1% | +31.7% | -22.0% | +151.9% | +40.1% | +50.7% | +143.1% | -21.9% | +44.8% | +31.1% | +15.8% | +8.7% | |
| EV / EBIT | 34.79 | 18.48 | 19.92 | 18.29 | 41.92 | 37.25 | 12.24 | 44.15 | 34.87 | 363.12 | 49.67 | 45.27 | 42.03 | 43.21 | 36.53 | 60.14 | 15.38 | 30.10 | 23.66 | 22.75 | 20.55 |
| — | -50.4% | +62.8% | -58.6% | +20.2% | -89.7% | -75.4% | -2.5% | -17.0% | +740.4% | +36.0% | -24.7% | +173.3% | +43.6% | +54.4% | +164.4% | -25.2% | +45.9% | +27.9% | +10.7% | +5.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 92.6% | 94.6% | 93.7% | 93.6% | 93.8% | 93.7% | 91.1% | 91.9% | 92.5% | 92.4% | 92.2% | 92.7% | 93.3% | 94.1% | 95.2% | 94.7% | 94.8% | 96.9% | 99.8% | 99.4% | 101.1% |
| — | +0.9% | +2.9% | +1.9% | +1.5% | +1.4% | -1.2% | -0.9% | -0.9% | -1.8% | -3.1% | -2.1% | -1.6% | -2.9% | -4.6% | -4.7% | -6.2% | -3.4% | -3.8% | +2.3% | +10.3% | |
| Operating Margin | 39.1% | 34.6% | 31.6% | 31.9% | 25.8% | 27.4% | 80.7% | 23.4% | 28.3% | 3.0% | 22.5% | 24.3% | 25.7% | 26.2% | 31.5% | 17.2% | 64.4% | 31.7% | 42.1% | 40.2% | 41.3% |
| — | +26.3% | -60.9% | +36.4% | -8.7% | +814.0% | +258.5% | -3.7% | +10.0% | -88.6% | -28.5% | +41.3% | -60.1% | -17.3% | -25.3% | -57.1% | +56.1% | -21.7% | -3.8% | +9.4% | -0.8% | |
| Net Margin | 33.5% | 27.3% | 26.7% | 25.0% | 20.6% | 21.5% | 74.2% | 18.7% | 24.7% | -1.3% | 18.6% | 20.7% | 22.1% | 22.2% | 26.5% | 12.2% | 55.9% | 27.9% | 34.8% | 33.4% | 34.9% |
| — | +26.7% | -64.0% | +33.3% | -16.3% | +1780.1% | +298.0% | -9.5% | +11.5% | -105.8% | -29.8% | +70.0% | -60.5% | -20.5% | -23.8% | -63.6% | +60.2% | -16.4% | -4.6% | +9.3% | -25.1% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.9% | 3.7% | 3.4% | 3.2% | 2.6% | 2.7% | 9.1% | 2.4% | 3.2% | -0.2% | 2.3% | 2.5% | 2.6% | 2.5% | 2.9% | 1.4% | 6.2% | 3.2% | 3.8% | 3.7% | 3.8% |
| — | +38.5% | -62.6% | +33.9% | -19.2% | +1738.7% | +297.4% | -5.2% | +24.8% | -106.4% | -21.2% | +77.6% | -58.8% | -20.9% | -23.4% | -61.7% | +64.7% | -12.7% | -2.7% | +7.8% | -30.8% | |
| ROA | 1.0% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.5% | 0.1% | 0.2% | -0.0% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.4% | 0.2% | 0.2% | 0.2% | 0.2% |
| — | +35.1% | -62.1% | +43.6% | -12.0% | +1869.6% | +304.9% | -8.0% | +20.1% | -106.1% | -22.9% | +77.7% | -57.7% | -13.8% | -18.9% | -61.4% | +61.1% | -16.6% | -2.6% | +12.1% | -26.9% | |
| ROIC | 2.3% | 1.1% | 0.9% | 0.7% | 0.4% | 0.4% | 1.2% | 0.3% | 0.4% | 0.0% | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 1.0% | 0.5% | 0.6% | 0.6% | 0.7% |
| — | +152.2% | -20.1% | +94.5% | -4.5% | +856.5% | +258.0% | -7.5% | +11.7% | -88.3% | -23.4% | +39.7% | -61.9% | -24.4% | -32.8% | -59.9% | +47.4% | -22.9% | -0.3% | +19.0% | +6.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.19 | 2.35 | 2.22 | 2.14 | 5.19 | 5.02 | 4.98 | 5.54 | 5.75 | 5.48 | 5.40 | 5.11 | 5.07 | 4.94 | 4.93 | 5.02 | 4.51 | 4.47 | 4.42 | 4.26 | 4.02 |
| — | -53.3% | -55.5% | -61.3% | -9.8% | -8.4% | -7.9% | +8.6% | +13.4% | +11.0% | +9.6% | +1.6% | +12.6% | +10.3% | +11.6% | +17.9% | +12.2% | +9.8% | +5.1% | -8.4% | -14.3% | |
| Debt / EBITDA | 25.41 | 46.27 | 49.32 | 48.87 | 141.97 | 131.92 | 49.63 | 163.96 | 140.58 | 667.89 | 168.48 | 150.42 | 147.21 | 142.63 | 130.03 | 210.74 | 61.67 | 112.51 | 87.01 | 88.27 | 81.11 |
| — | -64.9% | -0.6% | -70.2% | +1.0% | -80.2% | -70.5% | +9.0% | -4.5% | +368.3% | +29.6% | -28.6% | +138.7% | +26.8% | +49.4% | +138.7% | -24.0% | +31.8% | +9.0% | -10.3% | -5.3% | |
| Current Ratio | 0.12 | 0.05 | 0.05 | 0.05 | 0.12 | 0.18 | 0.20 | 0.19 | 0.17 | 0.15 | 0.15 | 0.14 | 0.11 | 0.14 | 0.15 | 0.18 | 0.13 | 0.17 | 0.17 | 0.20 | 0.17 |
| — | -71.1% | -72.8% | -71.5% | -26.6% | +21.1% | +36.2% | +32.8% | +51.2% | +7.7% | -4.3% | -20.1% | -14.6% | -19.6% | -10.3% | -11.0% | -23.5% | -19.2% | -31.1% | -26.1% | -5.0% | |
| Quick Ratio | 0.12 | 0.05 | 0.05 | 0.05 | 0.12 | 0.18 | 0.20 | 0.19 | 0.17 | 0.15 | 0.15 | 0.14 | 0.11 | 0.14 | 0.15 | 0.18 | 0.13 | 0.17 | 0.17 | 0.20 | 0.17 |
| — | -71.1% | -72.8% | -71.5% | -26.6% | +21.1% | +36.2% | +32.8% | +51.2% | +7.7% | -4.3% | -20.1% | -14.6% | -19.6% | -10.3% | -11.0% | -23.5% | -19.2% | -31.1% | -26.1% | -5.0% | |
| Interest Coverage | 0.44 | 0.50 | 0.45 | 0.43 | 0.32 | 0.32 | 0.90 | 0.23 | 0.26 | 0.03 | 0.20 | 0.22 | 0.23 | 0.25 | 0.33 | 0.22 | 1.09 | 0.98 | 2.79 | 3.68 | 3.80 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying TD stock.
The Toronto-Dominion Bank's current P/E is 14.7x. The average P/E over the last 4 quarters is 10.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
The Toronto-Dominion Bank's current operating margin is 39.1%. 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 Toronto-Dominion Bank's business trajectory between earnings reports.