RY vs TD
Royal Bank of Canada and Toronto Dominion Bank, side by side — 9 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | RY | TD |
|---|---|---|
| Revenue | CAD 66.6B | CAD 67.8B |
| Net income | CAD 20.4B | CAD 20.5B |
| Gross margin | · | · |
| Net margin | 30.6% | 30.3% |
| Return on equity | 15.3% | 16.9% |
| Diluted EPS | CAD 14.07 | CAD 11.56 |
| Dividend / share | · | CAD 4.20 |
| Payout ratio | 41.8% | 37.3% |
| Free cash flow | · | · |
| Equity | CAD 139.1B | · |
| Net debt / equity | · | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 7.1% | 9.2% |
| Profit CAGR 5y | 12.2% | 11.5% |
RY and TD book revenue within 15% of each other, and keeps more of each dollar of revenue as profit (30.6% against 30.3%).
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 | RY | TD |
|---|---|---|
| FY2025 | CAD 66.6B | CAD 67.8B |
| FY2024 | CAD 57.3B | CAD 57.2B |
| FY2023 | CAD 51.5B | CAD 50.7B |
| FY2022 | CAD 49.0B | CAD 49.0B |
| FY2021 | CAD 49.7B | CAD 42.7B |
| FY2020 | CAD 47.2B | CAD 43.6B |
| FY2019 | CAD 46.0B | CAD 41.1B |
| FY2018 | CAD 42.6B | CAD 38.9B |
| FY2017 | CAD 40.7B | CAD 36.2B |
Bottom line
| Fiscal year | RY | TD |
|---|---|---|
| FY2025 | CAD 20.4B | CAD 20.5B |
| FY2024 | CAD 16.2B | CAD 8.8B |
| FY2023 | CAD 14.6B | CAD 10.6B |
| FY2022 | CAD 15.8B | CAD 17.4B |
| FY2021 | CAD 16.0B | CAD 14.3B |
| FY2020 | CAD 11.4B | CAD 11.9B |
| FY2019 | CAD 12.9B | CAD 11.7B |
| FY2018 | CAD 12.4B | CAD 11.3B |
| FY2017 | CAD 11.4B | CAD 10.5B |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 1,172,000,000 | TD |
| FY2024 | +CAD 121,000,000 | RY |
| FY2023 | +CAD 774,000,000 | RY |
| FY2022 | −CAD 47,000,000 | TD |
| FY2021 | +CAD 7,000,000,000 | RY |
| FY2020 | +CAD 3,535,000,000 | RY |
| FY2019 | +CAD 4,937,000,000 | RY |
| FY2018 | +CAD 3,684,000,000 | RY |
| FY2017 | +CAD 4,467,000,000 | RY |
The higher-revenue side has changed between RY and TD over this period. The gap has narrowed 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 | +0.3 pp | RY |
| FY2024 | +12.9 pp | RY |
| FY2023 | +7.4 pp | RY |
| FY2022 | −3.3 pp | TD |
| FY2021 | −1.2 pp | TD |
| FY2020 | −3.0 pp | TD |
| FY2019 | −0.5 pp | TD |
| FY2018 | +0.1 pp | RY |
| FY2017 | −0.9 pp | TD |
The higher net margin has changed hands between RY and TD over this period.
9 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 RY's over the 9 comparable fiscal years — 5.8 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 RY and TD over these 9 fiscal years — RY led in 4 and TD in 5.
9 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 RY's over the 9 comparable fiscal years — 2.9 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
The lead in return on equity changed hands between RY and TD over these 9 fiscal years — RY led in 7 and TD in 2.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.