BMO vs BNS
Bank of Montreal and Bank of Nova Scotia, side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | BMO | BNS |
|---|---|---|
| Revenue | CAD 36.3B | CAD 37.7B |
| Net income | CAD 8.7B | CAD 7.8B |
| Gross margin | · | · |
| Net margin | 24.1% | 20.6% |
| Return on equity | 10.1% | 9.2% |
| Diluted EPS | CAD 11.44 | CAD 5.67 |
| Dividend / share | · | CAD 4.32 |
| Payout ratio | 57.8% | 75.4% |
| Free cash flow | · | · |
| Equity | CAD 88.1B | CAD 86.9B |
| Net debt / equity | · | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 7.6% | 3.8% |
| Profit CAGR 5y | 11.3% | 2.8% |
BMO and BNS book revenue within 15% of each other, and keeps more of each dollar of revenue as profit (24.1% against 20.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | BMO | BNS |
|---|---|---|
| FY2025 | CAD 36.3B | CAD 37.7B |
| FY2024 | CAD 32.8B | CAD 33.7B |
| FY2023 | CAD 29.3B | CAD 32.2B |
| FY2022 | CAD 33.7B | CAD 31.4B |
| FY2021 | CAD 27.2B | CAD 31.3B |
| FY2020 | CAD 25.2B | CAD 31.3B |
| FY2019 | CAD 25.5B | CAD 31.0B |
| FY2018 | CAD 22.9B | CAD 28.8B |
| FY2017 | CAD 22.1B | CAD 27.2B |
| FY2016 | CAD 21.1B | CAD 26.4B |
Bottom line
| Fiscal year | BMO | BNS |
|---|---|---|
| FY2025 | CAD 8.7B | CAD 7.8B |
| FY2024 | CAD 7.3B | CAD 7.8B |
| FY2023 | CAD 4.4B | CAD 7.3B |
| FY2022 | CAD 13.5B | CAD 9.9B |
| FY2021 | CAD 7.8B | CAD 9.6B |
| FY2020 | CAD 5.1B | CAD 6.8B |
| FY2019 | CAD 5.8B | CAD 8.4B |
| FY2018 | CAD 5.5B | CAD 8.5B |
| FY2017 | CAD 5.3B | CAD 8.0B |
| FY2016 | CAD 4.6B | CAD 7.1B |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 1,467,000,000 | BNS |
| FY2024 | −CAD 875,000,000 | BNS |
| FY2023 | −CAD 2,955,000,000 | BNS |
| FY2022 | +CAD 2,294,000,000 | BMO |
| FY2021 | −CAD 4,066,000,000 | BNS |
| FY2020 | −CAD 6,150,000,000 | BNS |
| FY2019 | −CAD 5,551,000,000 | BNS |
| FY2018 | −CAD 5,870,000,000 | BNS |
| FY2017 | −CAD 5,048,000,000 | BNS |
| FY2016 | −CAD 5,263,000,000 | BNS |
The higher-revenue side has changed between BMO and BNS over this period. The gap has narrowed since the earliest year compared.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +3.5 pp | BMO |
| FY2024 | −1.1 pp | BNS |
| FY2023 | −8.0 pp | BNS |
| FY2022 | +7.8 pp | BMO |
| FY2021 | −3.3 pp | BNS |
| FY2020 | −1.6 pp | BNS |
| FY2019 | −5.8 pp | BNS |
| FY2018 | −6.5 pp | BNS |
| FY2017 | −6.2 pp | BNS |
| FY2016 | −6.0 pp | BNS |
The higher net margin has changed hands between BMO and BNS over this period.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BMO's net margin has been more volatile than BNS's over the 10 comparable fiscal years — 6.2 percentage points of standard deviation against 4.2.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BMO and BNS over these 10 fiscal years — BMO led in 2 and BNS in 8.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BMO's return on equity has been more volatile than BNS's over the 10 comparable fiscal years — 3.7 percentage points of standard deviation against 1.8.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BMO and BNS over these 10 fiscal years — BMO led in 2 and BNS in 8.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.