BNS vs RY
Bank of Nova Scotia and Royal Bank of Canada, side by side — 9 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | BNS | RY |
|---|---|---|
| Revenue | CAD 37.7B | CAD 66.6B |
| Net income | CAD 7.8B | CAD 20.4B |
| Gross margin | · | · |
| Net margin | 20.6% | 30.6% |
| Return on equity | 9.2% | 15.3% |
| Diluted EPS | CAD 5.67 | CAD 14.07 |
| Dividend / share | CAD 4.32 | · |
| Payout ratio | 75.4% | 41.8% |
| Free cash flow | · | · |
| Equity | CAD 86.9B | CAD 139.1B |
| Net debt / equity | · | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 3.8% | 7.1% |
| Profit CAGR 5y | 2.8% | 12.2% |
RY bills 1.8× the revenue of BNS, and keeps more of each dollar of revenue as profit (30.6% 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.
9 years side by side
| Fiscal year | BNS | RY |
|---|---|---|
| FY2025 | CAD 37.7B | CAD 66.6B |
| FY2024 | CAD 33.7B | CAD 57.3B |
| FY2023 | CAD 32.2B | CAD 51.5B |
| FY2022 | CAD 31.4B | CAD 49.0B |
| FY2021 | CAD 31.3B | CAD 49.7B |
| FY2020 | CAD 31.3B | CAD 47.2B |
| FY2019 | CAD 31.0B | CAD 46.0B |
| FY2018 | CAD 28.8B | CAD 42.6B |
| FY2017 | CAD 27.2B | CAD 40.7B |
Bottom line
| Fiscal year | BNS | RY |
|---|---|---|
| FY2025 | CAD 7.8B | CAD 20.4B |
| FY2024 | CAD 7.8B | CAD 16.2B |
| FY2023 | CAD 7.3B | CAD 14.6B |
| FY2022 | CAD 9.9B | CAD 15.8B |
| FY2021 | CAD 9.6B | CAD 16.0B |
| FY2020 | CAD 6.8B | CAD 11.4B |
| FY2019 | CAD 8.4B | CAD 12.9B |
| FY2018 | CAD 8.5B | CAD 12.4B |
| FY2017 | CAD 8.0B | CAD 11.4B |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 28,864,000,000 | RY |
| FY2024 | −CAD 23,674,000,000 | RY |
| FY2023 | −CAD 19,250,000,000 | RY |
| FY2022 | −CAD 17,569,000,000 | RY |
| FY2021 | −CAD 18,441,000,000 | RY |
| FY2020 | −CAD 15,845,000,000 | RY |
| FY2019 | −CAD 14,968,000,000 | RY |
| FY2018 | −CAD 13,801,000,000 | RY |
| FY2017 | −CAD 13,514,000,000 | RY |
RY has reported the higher revenue in every one of these 9 fiscal years. The gap has widened since the earliest year compared.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −10.0 pp | RY |
| FY2024 | −4.9 pp | RY |
| FY2023 | −5.3 pp | RY |
| FY2022 | +0.1 pp | BNS |
| FY2021 | −0.4 pp | RY |
| FY2020 | −2.4 pp | RY |
| FY2019 | +0.4 pp | BNS |
| FY2018 | +1.1 pp | BNS |
| FY2017 | +2.2 pp | BNS |
The higher net margin has changed hands between BNS and RY over this period.
9 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 RY's over the 9 comparable fiscal years — 4.4 percentage points of standard deviation against 2.3.
9 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 RY over these 9 fiscal years — BNS led in 4 and RY in 5.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BNS's return on equity has been more volatile than RY's over the 9 comparable fiscal years — 1.9 percentage points of standard deviation against 1.4.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
RY led in return on equity in every one of the 9 comparable fiscal years — a structural lead, not a recent swing.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.