NYSE : BNS
The Bank of Nova Scotia — Financial statements
Financials · Banks - Diversified · Canada
Last price 93.76 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 114.29B
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Financial statements
Income statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 42.26B | 44.29B | 47.81B | 45.04B | 29.39B | 23.16B |
| Interest Income on Investments | 12.41B | 13.31B | 13.85B | 11.78B | 4.17B | 1.83B |
| Total Interest Income | 54.67B | 57.60B | 61.66B | 56.82B | 33.56B | 24.99B |
| Interest Paid on Deposits | 29.67B | 33.42B | 39.48B | 35.65B | 12.79B | 6.46B |
| Interest Paid on Borrowings | 2.44B | 2.65B | 2.93B | 2.91B | 2.65B | 1.56B |
| Total Interest Expense | 32.11B | 36.08B | 42.41B | 38.56B | 15.44B | 8.03B |
| Net Interest Income | 22.55B | 21.52B | 19.25B | 18.26B | 18.11B | 16.96B |
| Trust Income | 1.21B | 1.16B | 1.10B | 1.03B | 999.00M | 994.00M |
| Income From Trading Activities | 2.07B | 1.98B | 1.63B | 1.58B | 1.79B | 2.03B |
| Gain (Loss) on Sale of Assets | -410.00M | -1.35B | -279.00M | 734.00M | -233.00M | -9.00M |
| Gain (Loss) on Sale of Investments | 57.00M | 71.00M | 48.00M | 129.00M | 74.00M | 419.00M |
| Gain (Loss) on Sale of Equity Investments | 812.00M | 608.00M | 198.00M | 153.00M | 268.00M | 339.00M |
| Other Non-Interest Income | 13.49B | 12.36B | 11.59B | 10.69B | 10.17B | 10.51B |
| Total Non-Interest Income | 17.23B | 14.83B | 14.28B | 14.32B | 13.07B | 14.28B |
| Revenues Before Loan Losses | 39.79B | 36.35B | 33.53B | 32.58B | 31.18B | 31.24B |
| Provision for Loan Losses | 4.58B | 4.71B | 4.05B | 3.42B | 1.38B | 1.81B |
| Revenue | 35.20B | 31.64B | 29.48B | 29.16B | 29.80B | 29.43B |
| Salaries and Employee Benefits | 11.08B | 10.32B | 9.39B | 9.17B | 8.42B | 8.24B |
| Occupancy Expenses | 4.43B | 4.34B | 4.08B | 3.93B | 3.44B | 3.35B |
| Selling, General & Administrative | 2.94B | 3.00B | 2.82B | 2.71B | 2.60B | 2.37B |
| Other Non-Interest Expense | 3.38B | 3.47B | 3.26B | 3.67B | 2.41B | 2.64B |
| Total Non-Interest Expense | 21.84B | 21.13B | 19.56B | 19.49B | 16.87B | 16.61B |
| EBT Excluding Unusual Items | 13.36B | 10.51B | 9.92B | 9.67B | 12.93B | 12.83B |
| Pretax Income | 13.36B | 10.51B | 9.92B | 9.67B | 12.93B | 12.83B |
| Income Tax Expense | 3.27B | 2.75B | 2.03B | 2.22B | 2.76B | 2.87B |
| Earnings From Continuing Operations | 10.09B | 7.76B | 7.89B | 7.45B | 10.17B | 9.96B |
| Minority Interest in Earnings | -81.00M | 31.00M | -134.00M | -112.00M | -258.00M | -331.00M |
| Net Income | 10.01B | 7.79B | 7.76B | 7.34B | 9.92B | 9.62B |
| Preferred Dividends & Other Adjustments | 504.00M | 528.00M | 472.00M | 419.00M | 260.00M | 233.00M |
| Net Income to Common | 9.51B | 7.26B | 7.29B | 6.92B | 9.66B | 9.39B |
| Basic Shares Outstanding | 1.23B | 1.24B | 1.23B | 1.20B | 1.20B | 1.21B |
| Diluted Shares Outstanding | 1.23B | 1.25B | 1.23B | 1.20B | 1.21B | 1.23B |
| EPS (Basic) | 7.72 | 5.84 | 5.94 | 5.78 | 8.05 | 7.74 |
| EPS (Diluted) | 7.66 | 5.67 | 5.87 | 5.72 | 8.02 | 7.70 |
| Dividend Per Share | 4.44 | 4.32 | 4.24 | 4.18 | 4.06 | 3.60 |
| Effective Tax Rate | 24.50% | 26.18% | 20.48% | 22.97% | 21.33% | 22.38% |
Balance sheet
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.30B | 3.50B | 4.08B | 4.42B | 5.11B | 3.97B |
| Investment Securities | 486.64B | 414.98B | 409.65B | 399.63B | 342.78B | 282.17B |
| Trading Asset Securities | 213.06B | 198.75B | 174.11B | 169.21B | 168.85B | 188.61B |
| Total Investments | 699.70B | 613.74B | 583.76B | 568.83B | 511.64B | 470.79B |
| Gross Loans | 777.88B | 778.51B | 767.37B | 757.28B | 750.34B | 642.61B |
| Allowance for Loan Losses | -7.33B | -7.46B | -6.54B | -6.37B | -5.35B | -5.63B |
| Net Loans | 770.55B | 771.04B | 760.83B | 750.91B | 744.99B | 636.99B |
| Property, Plant & Equipment | 5.56B | 4.88B | 5.25B | 5.64B | 5.70B | 5.62B |
| Goodwill | 8.59B | 8.96B | 9.18B | 8.87B | 8.85B | |
| Other Intangible Assets | 16.01B | 7.58B | 7.89B | 8.01B | 7.96B | 7.76B |
| Accrued Interest Receivable | 4.97B | 5.35B | 4.91B | 3.71B | 2.15B | |
| Other Receivables | 10.00B | 7.74B | 9.34B | 9.67B | 6.92B | |
| Restricted Cash | 6.02B | 6.76B | 5.32B | 5.76B | 5.96B | 5.72B |
| Other Current Assets | 6.07B | 18.64B | 12.66B | 31.82B | 35.69B | 27.15B |
| Long-Term Deferred Tax Assets | 3.10B | 3.25B | 2.94B | 3.54B | 1.90B | 2.05B |
| Other Real Estate Owned & Foreclosed | 221.00M | 312.00M | 334.00M | 274.00M | 257.00M | |
| Other Long-Term Assets | 36.94B | 6.88B | 6.92B | 8.35B | 7.94B | 6.62B |
| Total Assets | 1.55T | 1.46T | 1.41T | 1.41T | 1.35T | 1.18T |
| Accounts Payable | 9.15B | 8.13B | 8.34B | 7.00B | 6.51B | |
| Accrued Expenses | 1.84B | 798.00M | 1.56B | 1.96B | 958.00M | |
| Interest Bearing Deposits | 669.70B | 647.17B | 648.42B | 633.88B | 631.99B | 550.62B |
| Institutional Deposits | 288.19B | 274.15B | 295.43B | 318.33B | 284.04B | 201.24B |
| Non-Interest Bearing Deposits | 48.13B | 44.95B | 123.00M | 156.00M | 45.40B | |
| Total Deposits | 1.01T | 966.28B | 943.85B | 952.33B | 916.18B | 797.26B |
| Short-Term Borrowings | 58.34B | 56.03B | 51.26B | 58.66B | 65.90B | 42.20B |
| Current Portion of Long-Term Debt | 200.49B | 197.62B | 164.87B | 142.76B | 126.62B | |
| Current Portion of Leases | 393.00M | 410.00M | 428.00M | 425.00M | 420.00M | |
| Current Income Taxes Payable | 942.00M | 1.07B | 728.00M | 464.00M | 1.34B | |
| Accrued Interest Payable | 6.86B | 7.84B | 7.69B | 3.61B | 1.45B | |
| Other Current Liabilities | 162.00M | 14.96B | 14.33B | 34.86B | 35.71B | 30.41B |
| Long-Term Debt | 286.04B | 43.51B | 37.00B | 31.61B | 27.16B | 25.67B |
| Long-Term Leases | 2.56B | 2.57B | 2.77B | 2.90B | 2.99B | |
| Pension & Post-Retirement Benefits | 535.00M | 523.00M | 521.00M | 549.00M | 661.00M | |
| Long-Term Deferred Tax Liabilities | 1.41B | 1.40B | 1.45B | 1.10B | 1.15B | |
| Other Long-Term Liabilities | 107.08B | 66.49B | 61.14B | 66.64B | 68.96B | 74.29B |
| Total Liabilities | 1.46T | 1.37T | 1.33T | 1.33T | 1.27T | 1.11T |
| Preferred Stock, Redeemable | 300.00M | 300.00M | 800.00M | |||
| Common Stock | 21.90B | 22.07B | 22.05B | 20.11B | 18.71B | 18.51B |
| Retained Earnings | 60.39B | 58.92B | 57.75B | 55.67B | 53.76B | 51.35B |
| Comprehensive Income & Other | 6.86B | 5.88B | 2.56B | 760.00M | 457.00M | 141.00M |
| Total Common Equity | 89.15B | 86.87B | 82.37B | 76.54B | 72.92B | 70.00B |
| Minority Interest | 1.47B | 1.72B | 1.71B | 1.73B | 1.52B | 2.09B |
| Shareholders' Equity | 90.62B | 88.59B | 84.08B | 78.57B | 74.75B | 72.89B |
| Total Liabilities & Equity | 1.55T | 1.46T | 1.41T | 1.41T | 1.35T | 1.18T |
| Total Debt | 344.39B | 302.99B | 288.87B | 258.34B | 239.14B | 197.91B |
| Net Cash (Debt) | 198.74B | 157.98B | 144.32B | 194.75B | 164.97B | 199.04B |
| Net Cash Per Share | 160.99 | 126.59 | 117.14 | 161.75 | 136.56 | 162.49 |
| Filing Date Shares Outstanding | 1.22B | 1.24B | 1.24B | 1.21B | 1.19B | 1.22B |
| Total Common Shares Outstanding | 1.22B | 1.24B | 1.24B | 1.21B | 1.19B | 1.22B |
| Book Value Per Share | 73.15 | 70.26 | 66.19 | 63.05 | 61.21 | 57.60 |
| Tangible Book Value | 73.14B | 70.70B | 65.52B | 59.35B | 56.09B | 53.40B |
| Tangible Book Value Per Share | 60.01 | 57.18 | 52.65 | 48.89 | 47.08 | 43.94 |
Cash flow statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 10.01B | 7.79B | 7.76B | 7.34B | 9.92B | 9.62B |
| Depreciation & Amortization | 768.00M | 776.00M | 802.00M | 958.00M | 846.00M | 872.00M |
| Other Amortization | 828.00M | 828.00M | 958.00M | 862.00M | 685.00M | 639.00M |
| Gain (Loss) on Sale of Assets | 446.00M | 1.39B | 136.00M | -367.00M | 233.00M | 9.00M |
| Gain (Loss) on Sale of Investments | -57.00M | -71.00M | 295.00M | 56.00M | -74.00M | -419.00M |
| Provision for Credit Losses | 4.58B | 4.71B | 4.05B | 3.42B | 1.38B | 1.81B |
| Change in Trading Asset Securities | -24.68B | -20.46B | -11.37B | -2.69B | 37.50B | -33.99B |
| Change in Other Net Operating Assets | -57.58B | -7.00B | 14.07B | -1.31B | -130.34B | -70.76B |
| Other Operating Activities | -414.00M | -1.49B | -52.00M | 4.12B | 1.15B | 1.18B |
| Operating Cash Flow | -66.90B | -14.13B | 16.47B | 12.25B | -78.96B | -91.38B |
| Capital Expenditures | -633.00M | -347.00M | -489.00M | -442.00M | -571.00M | -462.00M |
| Cash Acquisitions | -1.26B | -2.64B | -549.00M | -717.00M | ||
| Investment in Securities | 1.25B | 5.01B | -5.93B | -29.58B | -8.82B | 16.50B |
| Income (Loss) Equity Investments | -812.00M | -608.00M | -198.00M | -153.00M | -268.00M | -339.00M |
| Divestitures | 895.00M | |||||
| Other Investing Activities | -179.00M | -463.00M | -1.03B | -911.00M | -1.35B | -624.00M |
| Investing Cash Flow | -813.00M | 1.57B | -7.45B | -30.04B | -11.29B | 14.70B |
| Long-Term Debt Issued | 1.00B | 1.45B | 3.36B | |||
| Long-Term Debt Repaid | -548.00M | -3.55B | -403.00M | -1.60B | -1.09B | |
| Lease Payments | -303.00M | -298.00M | -303.00M | -325.00M | -322.00M | -344.00M |
| Net Debt Issued (Repaid) | -839.00M | -548.00M | -2.55B | 1.04B | 1.76B | -1.09B |
| Issuance of Common Stock | 312.00M | 210.00M | 1.95B | 1.40B | 137.00M | 268.00M |
| Repurchase of Common Stock | -2.79B | -895.00M | -2.87B | |||
| Preferred Stock Issued | 1.40B | 2.85B | 1.00B | 2.52B | 2.00B | |
| Preferred Share Repurchases | -1.69B | -300.00M | -500.00M | -1.26B | ||
| Common Dividends Paid | -5.46B | -5.37B | -5.20B | -5.00B | -4.86B | -4.37B |
| Preferred Dividends Paid | -504.00M | -506.00M | -472.00M | -419.00M | -260.00M | -233.00M |
| Total Dividends Paid | -5.97B | -5.88B | -5.67B | -5.42B | -5.12B | -4.60B |
| Net Increase (Decrease) in Deposit Accounts | 73.86B | 19.53B | -816.00M | 19.48B | 95.91B | 78.57B |
| Other Financing Activities | 116.00M | -360.00M | -3.26B | 210.00M | -506.00M | 1.91B |
| Financing Cash Flow | 66.08B | 13.22B | -9.65B | 16.71B | 91.33B | 75.79B |
| Foreign Exchange Rate Adjustments | 242.00M | 183.00M | -131.00M | 190.00M | 301.00M | -543.00M |
| Net Cash Flow | -1.39B | 850.00M | -767.00M | -892.00M | 1.37B | -1.43B |
| Free Cash Flow | -67.54B | -14.47B | 15.98B | 11.80B | -79.53B | -91.84B |
| Free Cash Flow Margin | -191.84% | -45.74% | 54.20% | 40.48% | -266.88% | -312.00% |
| Free Cash Flow Per Share | -54.71 | -11.60 | 12.97 | 9.80 | -65.84 | -74.97 |
| Free Cash Flow After Leases | -67.84B | -14.77B | 15.68B | 11.48B | -79.86B | -92.18B |
| Cash Interest Paid | 32.38B | 37.20B | 42.27B | 34.73B | 13.34B | 8.77B |
| Cash Income Tax Paid | 3.47B | 3.58B | 1.99B | 2.14B | 3.50B | 2.69B |
Ratios
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 115.48B | 81.50B | 63.67B | 48.73B | 57.53B | 79.52B |
| Last Close Price | 93.76 | 63.01 | 46.76 | 34.49 | 38.62 | 49.75 |
| PE Ratio | 17.31 | 15.73 | 12.18 | 9.78 | 8.12 | 10.50 |
| PS Ratio | 4.55 | 3.61 | 3.01 | 2.32 | 2.63 | 3.35 |
| PB Ratio | 1.77 | 1.29 | 1.05 | 0.86 | 1.05 | 1.35 |
| P/FCF Ratio | 5.55 | 5.73 | ||||
| P/OCF Ratio | 5.39 | 5.53 | ||||
| Debt / Equity Ratio | 3.80 | 3.42 | 3.44 | 3.29 | 3.20 | 2.71 |
| Debt / FCF Ratio | 18.08 | 21.89 | ||||
| Net Debt / Equity Ratio | -2.19 | -1.78 | -1.72 | -2.48 | -2.21 | -2.73 |
| Net Debt / FCF Ratio | 2.94 | 10.92 | -9.03 | -16.50 | 2.07 | 2.17 |
| Return on Equity (ROE) | 11.46% | 8.99% | 9.70% | 9.72% | 13.78% | 13.88% |
| Return on Assets (ROA) | 0.68% | 0.54% | 0.56% | 0.54% | 0.80% | 0.86% |
| Earnings Yield | 5.78% | 6.82% | 8.74% | 10.84% | 12.64% | 9.76% |
| FCF Yield | -42.25% | -12.67% | 18.01% | 17.44% | -101.38% | -93.14% |
| Dividend Yield | 3.37% | 4.68% | 5.95% | 7.50% | 6.17% | 4.44% |
| Payout Ratio | 58.32% | 75.43% | 73.09% | 73.89% | 51.61% | 47.84% |
| Buyback Yield / Dilution | 1.12% | -1.30% | -2.33% | 0.33% | 1.39% | 1.45% |
| Total Shareholder Return | 4.51% | 3.38% | 3.62% | 7.83% | 7.55% | 5.88% |