BNS vs TD
Bank of Nova Scotia and Toronto Dominion Bank, side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | BNS | TD |
|---|---|---|
| Revenue | CAD 37.7B | CAD 67.8B |
| Net income | CAD 7.8B | CAD 20.5B |
| Gross margin | · | · |
| Net margin | 20.6% | 30.3% |
| Return on equity | 9.2% | 16.9% |
| Diluted EPS | CAD 5.67 | CAD 11.56 |
| Dividend / share | CAD 4.32 | CAD 4.20 |
| Payout ratio | 75.4% | 37.3% |
| Free cash flow | · | · |
| Equity | CAD 86.9B | · |
| Net debt / equity | · | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 3.8% | 9.2% |
| Profit CAGR 5y | 2.8% | 11.5% |
TD bills 1.8× the revenue of BNS, and keeps more of each dollar of revenue as profit (30.3% 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 | TD |
|---|---|---|
| FY2025 | CAD 37.7B | CAD 67.8B |
| FY2024 | CAD 33.7B | CAD 57.2B |
| FY2023 | CAD 32.2B | CAD 50.7B |
| FY2022 | CAD 31.4B | CAD 49.0B |
| FY2021 | CAD 31.3B | CAD 42.7B |
| FY2020 | CAD 31.3B | CAD 43.6B |
| FY2019 | CAD 31.0B | CAD 41.1B |
| FY2018 | CAD 28.8B | CAD 38.9B |
| FY2017 | CAD 27.2B | CAD 36.2B |
| FY2016 | CAD 26.4B | CAD 34.3B |
Bottom line
| Fiscal year | BNS | TD |
|---|---|---|
| FY2025 | CAD 7.8B | CAD 20.5B |
| FY2024 | CAD 7.8B | CAD 8.8B |
| FY2023 | CAD 7.3B | CAD 10.6B |
| FY2022 | CAD 9.9B | CAD 17.4B |
| FY2021 | CAD 9.6B | CAD 14.3B |
| FY2020 | CAD 6.8B | CAD 11.9B |
| FY2019 | CAD 8.4B | CAD 11.7B |
| FY2018 | CAD 8.5B | CAD 11.3B |
| FY2017 | CAD 8.0B | CAD 10.5B |
| FY2016 | CAD 7.1B | CAD 8.9B |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 30,036,000,000 | TD |
| FY2024 | −CAD 23,553,000,000 | TD |
| FY2023 | −CAD 18,476,000,000 | TD |
| FY2022 | −CAD 17,616,000,000 | TD |
| FY2021 | −CAD 11,441,000,000 | TD |
| FY2020 | −CAD 12,310,000,000 | TD |
| FY2019 | −CAD 10,031,000,000 | TD |
| FY2018 | −CAD 10,117,000,000 | TD |
| FY2017 | −CAD 9,047,000,000 | TD |
| FY2016 | −CAD 7,965,000,000 | TD |
TD has reported the higher revenue in every one of these 10 fiscal years. The gap has widened 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 | −9.7 pp | TD |
| FY2024 | +8.0 pp | BNS |
| FY2023 | +2.1 pp | BNS |
| FY2022 | −3.2 pp | TD |
| FY2021 | −1.6 pp | TD |
| FY2020 | −5.4 pp | TD |
| FY2019 | −0.1 pp | TD |
| FY2018 | +1.2 pp | BNS |
| FY2017 | +1.3 pp | BNS |
| FY2016 | +1.9 pp | BNS |
The higher net margin has changed hands between BNS and TD over this period.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TD's net margin has been more volatile than BNS's over the 10 comparable fiscal years — 5.5 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 BNS and TD over these 10 fiscal years — BNS led in 5 and TD in 5.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TD'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 TD over these 10 fiscal years — BNS led in 3 and TD in 7.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.