BNS vs CM
Bank of Nova Scotia and Canadian Imperial Bank of Commerce, side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | BNS | CM |
|---|---|---|
| Revenue | CAD 37.7B | CAD 29.1B |
| Net income | CAD 7.8B | CAD 8.4B |
| Gross margin | · | · |
| Net margin | 20.6% | 29.0% |
| Return on equity | 9.2% | 13.7% |
| Diluted EPS | CAD 5.67 | CAD 8.57 |
| Dividend / share | CAD 4.32 | CAD 3.88 |
| Payout ratio | 75.4% | · |
| Free cash flow | · | · |
| Equity | CAD 86.9B | CAD 64.1B |
| Net debt / equity | · | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 3.8% | 9.2% |
| Profit CAGR 5y | 2.8% | 17.3% |
BNS bills 1.3× the revenue of CM, and CM keeps more of each dollar of revenue as profit (29.0% 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 | BNS | CM |
|---|---|---|
| FY2025 | CAD 37.7B | CAD 29.1B |
| FY2024 | CAD 33.7B | CAD 25.6B |
| FY2023 | CAD 32.2B | CAD 23.3B |
| FY2022 | CAD 31.4B | CAD 21.8B |
| FY2021 | CAD 31.3B | CAD 20.0B |
| FY2020 | CAD 31.3B | CAD 18.7B |
| FY2019 | CAD 31.0B | CAD 18.6B |
| FY2018 | CAD 28.8B | CAD 17.8B |
| FY2017 | CAD 27.2B | CAD 16.3B |
| FY2016 | CAD 26.4B | CAD 15.0B |
Bottom line
| Fiscal year | BNS | CM |
|---|---|---|
| FY2025 | CAD 7.8B | CAD 8.4B |
| FY2024 | CAD 7.8B | CAD 7.1B |
| FY2023 | CAD 7.3B | CAD 5.0B |
| FY2022 | CAD 9.9B | CAD 6.2B |
| FY2021 | CAD 9.6B | CAD 6.4B |
| FY2020 | CAD 6.8B | CAD 3.8B |
| FY2019 | CAD 8.4B | CAD 5.1B |
| FY2018 | CAD 8.5B | CAD 5.3B |
| FY2017 | CAD 8.0B | CAD 4.7B |
| FY2016 | CAD 7.1B | CAD 4.3B |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CAD 8,608,000,000 | BNS |
| FY2024 | +CAD 8,064,000,000 | BNS |
| FY2023 | +CAD 8,882,000,000 | BNS |
| FY2022 | +CAD 9,583,000,000 | BNS |
| FY2021 | +CAD 11,237,000,000 | BNS |
| FY2020 | +CAD 12,595,000,000 | BNS |
| FY2019 | +CAD 12,423,000,000 | BNS |
| FY2018 | +CAD 10,941,000,000 | BNS |
| FY2017 | +CAD 10,875,000,000 | BNS |
| FY2016 | +CAD 11,315,000,000 | BNS |
BNS has reported the higher revenue in every one of these 10 fiscal years. 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 | −8.5 pp | CM |
| FY2024 | −4.5 pp | CM |
| FY2023 | +1.5 pp | BNS |
| FY2022 | +3.8 pp | BNS |
| FY2021 | −0.4 pp | CM |
| FY2020 | +1.6 pp | BNS |
| FY2019 | +0.8 pp | BNS |
| FY2018 | +0.7 pp | BNS |
| FY2017 | +1.4 pp | BNS |
| FY2016 | −0.6 pp | CM |
The higher net margin has changed hands between BNS and CM over this period.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BNS's net margin has been more volatile than CM's over the 10 comparable fiscal years — 4.2 percentage points of standard deviation against 3.5.
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 BNS and CM over these 10 fiscal years — BNS led in 6 and CM in 4.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CM's return on equity has been more volatile than BNS's over the 10 comparable fiscal years — 2.7 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 BNS and CM over these 10 fiscal years — BNS led in 3 and CM in 7.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.