NYSE : TD
The Toronto-Dominion Bank — Financial statements
Financials · Banks - Diversified · Canada
Last price 127.22 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 208.03B
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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 | 59.46B | 61.59B | 65.30B | 54.04B | 29.67B | 23.96B |
| Interest Income on Investments | 23.59B | 26.03B | 28.09B | 26.64B | 11.37B | 5.62B |
| Total Interest Income | 83.06B | 87.62B | 93.39B | 80.67B | 41.03B | 29.58B |
| Interest Paid on Deposits | 34.51B | 40.04B | 46.86B | 38.35B | 9.75B | 3.74B |
| Interest Paid on Borrowings | 13.06B | 14.52B | 16.06B | 12.38B | 3.93B | 1.71B |
| Total Interest Expense | 47.57B | 54.56B | 62.92B | 50.73B | 13.68B | 5.45B |
| Net Interest Income | 35.49B | 33.06B | 30.47B | 29.94B | 27.35B | 24.13B |
| Income From Trading Activities | 4.79B | 4.60B | 3.63B | 2.42B | -257.00M | 313.00M |
| Gain (Loss) on Sale of Investments | -363.00M | 7.21B | 664.00M | -48.00M | 60.00M | 14.00M |
| Other Non-Interest Income | 24.84B | 22.91B | 22.73B | 20.02B | 21.65B | 18.23B |
| Total Non-Interest Income | 29.27B | 34.72B | 27.02B | 22.39B | 21.45B | 18.56B |
| Revenues Before Loan Losses | 64.76B | 67.78B | 57.50B | 52.33B | 48.81B | 42.69B |
| Provision for Loan Losses | 3.94B | 4.51B | 4.25B | 2.93B | 1.07B | -224.00M |
| Revenue | 60.82B | 63.27B | 53.24B | 49.40B | 47.74B | 42.92B |
| Salaries and Employee Benefits | 18.12B | 17.07B | 15.64B | 14.76B | 12.51B | 10.97B |
| Occupancy Expenses | 1.21B | 1.13B | 1.13B | 1.02B | 1.66B | 1.88B |
| Amortization of Goodwill & Intangibles | 855.00M | 780.00M | 702.00M | 672.00M | 599.00M | 706.00M |
| Selling, General & Administrative | 11.04B | 10.79B | 9.16B | 8.03B | 6.33B | 5.92B |
| Other Non-Interest Expense | 9.08B | 9.17B | 14.95B | 10.03B | 6.44B | 6.30B |
| Total Non-Interest Expense | 40.30B | 38.64B | 40.87B | 33.64B | 26.55B | 25.00B |
| EBT Excluding Unusual Items | 20.52B | 24.63B | 12.37B | 15.76B | 21.19B | 17.92B |
| Legal Settlements | -274.00M | -1.64B | 224.00M | |||
| Pretax Income | 20.15B | 23.95B | 11.53B | 13.75B | 21.41B | 17.92B |
| Income Tax Expense | 3.96B | 3.41B | 2.69B | 3.12B | 3.99B | 3.62B |
| Earnings From Continuing Operations | 16.19B | 20.54B | 8.84B | 10.63B | 17.43B | 14.30B |
| Net Income | 16.19B | 20.54B | 8.84B | 10.63B | 17.43B | 14.30B |
| Preferred Dividends & Other Adjustments | 588.00M | 565.00M | 526.00M | 563.00M | 259.00M | 249.00M |
| Net Income to Common | 15.60B | 19.97B | 8.32B | 10.07B | 17.17B | 14.05B |
| Basic Shares Outstanding | 1.67B | 1.73B | 1.76B | 1.82B | 1.81B | 1.82B |
| Diluted Shares Outstanding | 1.68B | 1.73B | 1.76B | 1.82B | 1.81B | 1.82B |
| EPS (Basic) | 9.33 | 11.57 | 4.73 | 5.53 | 9.48 | 7.73 |
| EPS (Diluted) | 9.31 | 11.56 | 4.72 | 5.52 | 9.47 | 7.72 |
| Dividend Per Share | 4.33 | 4.20 | 4.08 | 3.84 | 3.56 | 3.16 |
| Effective Tax Rate | 19.64% | 14.24% | 23.33% | 22.67% | 18.61% | 20.21% |
Balance sheet
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.81B | 7.51B | 6.44B | 6.72B | 8.56B | 5.71B |
| Investment Securities | 719.39B | 721.42B | 742.88B | 673.48B | 701.17B | 672.33B |
| Trading Asset Securities | 298.19B | 303.45B | 256.89B | 242.97B | 250.86B | 204.35B |
| Mortgage-Backed Securities | 1.65B | 15.17B | 17.50B | 19.07B | 18.27B | 17.47B |
| Total Investments | 1.02T | 1.04T | 1.02T | 935.51B | 970.31B | 894.15B |
| Gross Loans | 1.00T | 961.99B | 957.87B | 903.50B | 839.83B | 730.61B |
| Allowance for Loan Losses | -8.51B | -8.69B | -8.09B | -7.14B | -6.43B | -6.39B |
| Net Loans | 992.65B | 953.30B | 949.78B | 896.37B | 833.40B | 724.22B |
| Property, Plant & Equipment | 10.21B | 10.13B | 9.84B | 9.43B | 9.40B | 9.18B |
| Goodwill | 18.98B | 18.98B | 18.85B | 18.60B | 17.66B | 16.23B |
| Other Intangible Assets | 3.84B | 3.41B | 3.04B | 2.77B | 2.30B | 2.12B |
| Accrued Interest Receivable | 5.59B | 5.67B | 5.51B | 5.50B | 3.77B | 2.20B |
| Other Receivables | 37.65B | 40.46B | 34.13B | 49.06B | 36.51B | 43.31B |
| Restricted Cash | 223.00M | |||||
| Other Current Assets | 8.78B | 7.51B | 9.61B | 25.20B | 29.97B | 26.33B |
| Long-Term Deferred Tax Assets | 5.97B | 5.39B | 4.94B | 3.95B | 2.19B | 2.27B |
| Other Real Estate Owned & Foreclosed | 89.00M | 101.00M | 126.00M | 59.00M | 51.00M | 53.00M |
| Other Long-Term Assets | 2.08B | 2.05B | 2.23B | 1.96B | 3.41B | 2.68B |
| Total Assets | 2.11T | 2.09T | 2.06T | 1.96T | 1.92T | 1.73T |
| Accounts Payable | 8.47B | 8.95B | 7.71B | 8.31B | 5.04B | 7.50B |
| Accrued Expenses | 33.91B | 34.75B | 31.98B | 35.87B | 29.30B | 33.14B |
| Interest Bearing Deposits | 657.22B | 649.26B | 655.38B | 613.88B | 689.29B | 754.76B |
| Institutional Deposits | 553.00B | 544.00B | 546.00B | 512.00B | 436.00B | 283.00B |
| Non-Interest Bearing Deposits | 136.86B | 134.16B | 132.38B | 137.98B | 167.73B | 155.46B |
| Total Deposits | 1.35T | 1.33T | 1.33T | 1.26T | 1.29T | 1.19T |
| Short-Term Borrowings | 75.31B | 79.36B | 68.37B | 71.64B | 91.13B | 57.12B |
| Current Portion of Long-Term Debt | 226.27B | 202.46B | 169.93B | 134.19B | 148.07B | |
| Current Portion of Leases | 31.00M | |||||
| Current Income Taxes Payable | 318.00M | 296.00M | 67.00M | 162.00M | 151.00M | 82.00M |
| Accrued Interest Payable | 4.45B | 4.65B | 5.56B | 4.42B | 1.87B | 714.00M |
| Other Current Liabilities | 43.11B | 46.53B | 42.23B | 65.86B | 67.35B | 63.50B |
| Long-Term Debt | 452.74B | 220.63B | 216.60B | 190.97B | 156.20B | 104.72B |
| Long-Term Leases | 5.35B | 5.32B | 5.01B | 5.05B | 5.31B | 5.47B |
| Long-Term Unearned Revenue | 2.48B | 2.34B | ||||
| Pension & Post-Retirement Benefits | 1.33B | 1.37B | 1.38B | 1.24B | 1.29B | 1.59B |
| Long-Term Deferred Tax Liabilities | 301.00M | 303.00M | 300.00M | 204.00M | 236.00M | 244.00M |
| Other Long-Term Liabilities | 12.48B | 10.84B | 31.16B | 25.54B | 18.57B | 11.13B |
| Total Liabilities | 1.98T | 1.97T | 1.95T | 1.84T | 1.81T | 1.63T |
| Preferred Stock, Redeemable | 2.85B | 2.85B | 3.90B | 5.20B | 5.60B | 3.95B |
| Preferred Stock, Other | -46.00M | -4.00M | -18.00M | -65.00M | -7.00M | -10.00M |
| Total Preferred Equity | 2.80B | 2.85B | 3.88B | 5.13B | 5.59B | 3.94B |
| Common Stock | 24.15B | 24.73B | 25.37B | 25.43B | 24.36B | 23.07B |
| Additional Paid-In Capital | 403.00M | 285.00M | 204.00M | 155.00M | 179.00M | 173.00M |
| Retained Earnings | 78.88B | 78.32B | 70.83B | 73.01B | 73.70B | 63.94B |
| Treasury Stock | -19.00M | -17.00M | -64.00M | -91.00M | -152.00M | |
| Comprehensive Income & Other | 20.80B | 21.65B | 14.89B | 8.40B | 7.64B | 8.85B |
| Total Common Equity | 124.21B | 124.98B | 111.28B | 106.94B | 105.79B | 95.88B |
| Shareholders' Equity | 127.02B | 127.83B | 115.16B | 112.07B | 111.38B | 99.82B |
| Total Liabilities & Equity | 2.11T | 2.09T | 2.06T | 1.96T | 1.92T | 1.73T |
| Total Debt | 533.40B | 531.62B | 492.44B | 437.60B | 386.84B | 315.39B |
| Net Cash (Debt) | 100.05B | 130.14B | 142.87B | 108.61B | 161.12B | 215.34B |
| Net Cash Per Share | 59.70 | 75.31 | 81.18 | 59.53 | 88.84 | 118.31 |
| Filing Date Shares Outstanding | 1.64B | 1.69B | 1.75B | 1.79B | 1.82B | 1.82B |
| Total Common Shares Outstanding | 1.64B | 1.69B | 1.75B | 1.79B | 1.82B | 1.82B |
| Book Value Per Share | 75.62 | 73.79 | 63.41 | 59.72 | 58.10 | 52.62 |
| Tangible Book Value | 101.39B | 102.59B | 89.38B | 85.56B | 85.83B | 77.52B |
| Tangible Book Value Per Share | 61.69 | 60.54 | 50.89 | 47.78 | 47.14 | 42.55 |
Cash flow statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 16.19B | 20.54B | 8.84B | 10.63B | 17.43B | 14.30B |
| Depreciation & Amortization | 1.60B | 1.49B | 1.48B | 1.42B | 1.27B | 1.47B |
| Other Amortization | 644.00M | 644.00M | 530.00M | 479.00M | 493.00M | 540.00M |
| Gain (Loss) on Sale of Investments | 363.00M | -7.21B | -664.00M | 48.00M | -1.06B | -14.00M |
| Total Asset Writedown | 29.00M | 29.00M | 19.00M | 11.00M | 4.00M | 54.00M |
| Provision for Credit Losses | 3.94B | 4.51B | 4.25B | 2.93B | 1.07B | -224.00M |
| Change in Trading Asset Securities | 17.90B | -10.85B | 15.19B | 28.57B | 48.32B | 54.50B |
| Accrued Interest Receivable | -60.00M | -1.07B | 1.13B | 812.00M | -412.00M | -288.00M |
| Change in Income Taxes | -624.00M | 441.00M | 658.00M | 1.23B | -4.10B | 239.00M |
| Change in Other Net Operating Assets | -46.51B | -82.99B | -44.66B | -83.78B | -129.34B | -13.43B |
| Other Operating Activities | -99.00M | -764.00M | -1.06B | -1.31B | 502.00M | 258.00M |
| Operating Cash Flow | -6.63B | -75.54B | -14.98B | -39.81B | -66.81B | 56.62B |
| Capital Expenditures | -2.52B | -2.15B | -2.18B | -1.84B | -1.45B | -1.13B |
| Cash Acquisitions | -624.00M | -1.86B | ||||
| Investment in Securities | 33.24B | 88.33B | -43.24B | 78.69B | -30.44B | -42.28B |
| Income (Loss) Equity Investments | -305.00M | -703.00M | -864.00M | -991.00M | -785.00M | |
| Investing Cash Flow | 9.96B | 86.19B | -45.42B | 76.23B | -31.89B | -45.27B |
| Long-Term Debt Issued | 2.28B | 3.32B | 6.00M | |||
| Long-Term Debt Repaid | -4.86B | -2.22B | -2.36B | -663.00M | -550.00M | |
| Lease Payments | -1.19B | -1.68B | -678.00M | -643.00M | -663.00M | -543.00M |
| Net Debt Issued (Repaid) | -1.31B | -2.58B | 1.10B | -2.36B | -657.00M | -550.00M |
| Issuance of Common Stock | 12.98B | 13.29B | 11.38B | 8.06B | 11.02B | 10.89B |
| Repurchase of Common Stock | -22.17B | -19.30B | -15.21B | -12.24B | -13.05B | -10.86B |
| Preferred Stock Issued | 4.86B | 3.34B | 2.01B | 532.00M | 5.81B | 1.95B |
| Preferred Share Repurchases | -2.81B | -2.58B | -1.93B | -990.00M | -1.25B | -905.00M |
| Total Dividends Paid | -7.80B | -7.66B | -7.16B | -5.83B | -6.67B | -5.55B |
| Net Increase (Decrease) in Deposit Accounts | 14.19B | 5.89B | 69.92B | -25.49B | 105.76B | -6.49B |
| Other Financing Activities | -9.00M | -7.00M | -7.00M | -21.00M | -27.00M | -5.00M |
| Financing Cash Flow | -2.08B | -9.61B | 60.11B | -38.33B | 100.94B | -11.53B |
| Foreign Exchange Rate Adjustments | 52.00M | 34.00M | 14.00M | 88.00M | 390.00M | -339.00M |
| Net Cash Flow | 1.29B | 1.07B | -284.00M | -1.83B | 2.62B | -514.00M |
| Free Cash Flow | -9.16B | -77.69B | -17.16B | -41.66B | -68.26B | 55.49B |
| Free Cash Flow Margin | -15.05% | -122.78% | -32.23% | -84.33% | -142.99% | 129.31% |
| Free Cash Flow Per Share | -5.46 | -44.96 | -9.75 | -22.83 | -37.64 | 30.49 |
| Free Cash Flow After Leases | -10.34B | -79.37B | -17.84B | -42.30B | -68.93B | 54.95B |
| Cash Interest Paid | 47.67B | 55.47B | 61.78B | 48.18B | 12.52B | 5.88B |
| Cash Income Tax Paid | 4.04B | 4.33B | 3.81B | 3.04B | 4.40B | 4.07B |
Ratios
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 205.79B | 140.87B | 96.56B | 100.50B | 115.93B | 131.89B |
| Last Close Price | 124.50 | 79.73 | 51.22 | 49.24 | 53.85 | 58.70 |
| PE Ratio | 18.90 | 9.88 | 16.18 | 13.86 | 9.21 | 11.64 |
| PS Ratio | 4.70 | 3.12 | 2.53 | 2.83 | 3.31 | 3.81 |
| PB Ratio | 2.25 | 1.54 | 1.17 | 1.25 | 1.42 | 1.64 |
| P/FCF Ratio | 2.95 | |||||
| P/OCF Ratio | 2.89 | |||||
| Debt / Equity Ratio | 4.20 | 4.16 | 4.28 | 3.90 | 3.47 | 3.16 |
| Debt / FCF Ratio | 5.68 | |||||
| Net Debt / Equity Ratio | -0.79 | -1.02 | -1.24 | -0.97 | -1.45 | -2.16 |
| Net Debt / FCF Ratio | 10.93 | 1.68 | 8.32 | 2.61 | 2.36 | -3.88 |
| Return on Equity (ROE) | 12.83% | 16.91% | 7.78% | 9.52% | 16.50% | 14.64% |
| Return on Assets (ROA) | 0.78% | 0.99% | 0.44% | 0.55% | 0.96% | 0.83% |
| Earnings Yield | 5.29% | 10.40% | 6.57% | 7.62% | 11.02% | 8.74% |
| FCF Yield | -3.21% | -39.35% | -12.75% | -29.84% | -43.18% | 33.94% |
| Dividend Yield | 2.50% | 3.59% | 5.31% | 4.93% | 4.10% | 3.52% |
| Payout Ratio | 47.12% | 37.31% | 80.98% | 54.78% | 38.24% | 38.85% |
| Buyback Yield / Dilution | 3.68% | 1.82% | 3.53% | -0.60% | 0.36% | -0.63% |
| Total Shareholder Return | 6.19% | 5.41% | 8.84% | 4.33% | 4.46% | 2.89% |