CM vs TD
Canadian Imperial Bank of Commerce and Toronto Dominion Bank, side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | CM | TD |
|---|---|---|
| Revenue | CAD 29.1B | CAD 67.8B |
| Net income | CAD 8.4B | CAD 20.5B |
| Gross margin | · | · |
| Net margin | 29.0% | 30.3% |
| Return on equity | 13.7% | 16.9% |
| Diluted EPS | CAD 8.57 | CAD 11.56 |
| Dividend / share | CAD 3.88 | CAD 4.20 |
| Payout ratio | · | 37.3% |
| Free cash flow | · | · |
| Equity | CAD 64.1B | · |
| Net debt / equity | · | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 9.2% | 9.2% |
| Profit CAGR 5y | 17.3% | 11.5% |
TD bills 2.3× the revenue of CM, and keeps more of each dollar of revenue as profit (30.3% against 29.0%).
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 | CM | TD |
|---|---|---|
| FY2025 | CAD 29.1B | CAD 67.8B |
| FY2024 | CAD 25.6B | CAD 57.2B |
| FY2023 | CAD 23.3B | CAD 50.7B |
| FY2022 | CAD 21.8B | CAD 49.0B |
| FY2021 | CAD 20.0B | CAD 42.7B |
| FY2020 | CAD 18.7B | CAD 43.6B |
| FY2019 | CAD 18.6B | CAD 41.1B |
| FY2018 | CAD 17.8B | CAD 38.9B |
| FY2017 | CAD 16.3B | CAD 36.2B |
| FY2016 | CAD 15.0B | CAD 34.3B |
Bottom line
| Fiscal year | CM | TD |
|---|---|---|
| FY2025 | CAD 8.4B | CAD 20.5B |
| FY2024 | CAD 7.1B | CAD 8.8B |
| FY2023 | CAD 5.0B | CAD 10.6B |
| FY2022 | CAD 6.2B | CAD 17.4B |
| FY2021 | CAD 6.4B | CAD 14.3B |
| FY2020 | CAD 3.8B | CAD 11.9B |
| FY2019 | CAD 5.1B | CAD 11.7B |
| FY2018 | CAD 5.3B | CAD 11.3B |
| FY2017 | CAD 4.7B | CAD 10.5B |
| FY2016 | CAD 4.3B | CAD 8.9B |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 38,644,000,000 | TD |
| FY2024 | −CAD 31,617,000,000 | TD |
| FY2023 | −CAD 27,358,000,000 | TD |
| FY2022 | −CAD 27,199,000,000 | TD |
| FY2021 | −CAD 22,678,000,000 | TD |
| FY2020 | −CAD 24,905,000,000 | TD |
| FY2019 | −CAD 22,454,000,000 | TD |
| FY2018 | −CAD 21,058,000,000 | TD |
| FY2017 | −CAD 19,922,000,000 | TD |
| FY2016 | −CAD 19,280,000,000 | 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 | −1.3 pp | TD |
| FY2024 | +12.5 pp | CM |
| FY2023 | +0.6 pp | CM |
| FY2022 | −7.0 pp | TD |
| FY2021 | −1.3 pp | TD |
| FY2020 | −7.0 pp | TD |
| FY2019 | −0.9 pp | TD |
| FY2018 | +0.5 pp | CM |
| FY2017 | −0.1 pp | TD |
| FY2016 | +2.5 pp | CM |
The higher net margin has changed hands between CM 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 CM's over the 10 comparable fiscal years — 5.5 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 CM and TD over these 10 fiscal years — CM led in 4 and TD in 6.
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 CM's over the 10 comparable fiscal years — 2.7 percentage points of standard deviation against 2.7.
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 CM and TD over these 10 fiscal years — CM led in 6 and TD in 4.
10 of 10 comparable fiscal years — a year missing data on either side is not counted.