
The Toronto-Dominion Bank Financial Ratios 2025-2011 | TD
Brief overview of The Toronto-Dominion Bank's multiples and efficiency
Current figures are compared with the company's own five-year history for 2021–2025.
Key multiples at the end of the period are P/E 7.4x (median 10.06x), P/B 1.19x (median 1.01x), P/CF 1.71x (median 2.87x). Valuation is roughly 26.4% below five-year reference levels. The discount may reflect opportunity or higher perceived risk.
The 1/P/E calculation produces a 13.5% earnings yield. It does not capture future growth or capital structure.
Capital efficiency is characterized by ROE 16.1%, ROA 1%, ROCE 14.7%. Fundamental efficiency is balanced: profitability supports valuation but does not remove the need for future growth.
Current PEG of 3.35x points to a premium over forecast earnings momentum.
Financial-company multiples cannot be compared directly with industrial businesses; P/B and sustainable capital returns remain central.
Overall picture
The Toronto-Dominion Bank's multiples are below five-year reference levels despite strong quality metrics, providing valuation cushion but not eliminating hidden risks.
Annual Financial Ratios The Toronto-Dominion Bank
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
7.4 | 10.6 | 10.4 | 6.4 | 10.1 | 8.1 | 7.7 | 7.9 | 12.8 | 12.6 | 12.1 | 15.1 | 16.2 | 15.0 | 13.5 |
P/S |
2.2 | 1.6 | 2.2 | 2.3 | 3.4 | 2.2 | 2.2 | 2.3 | 3.7 | 3.2 | 3.0 | 3.9 | 3.9 | 4.1 | 3.7 |
EPS |
11.6 | 4.7 | 5.5 | 9.5 | 7.7 | 6.4 | 6.3 | 6.0 | 5.5 | 4.7 | - | - | - | - | - |
EV (Enterprise Value) |
2.11 T | 2.03 T | 1.95 T | 1.91 T | 1.77 T | 1.71 T | 1.41 T | 1.34 T | 1.31 T | 1.19 T | 1.11 T | 983 B | 896 B | 840 B | 703 B |
EBITDA per Share |
- | - | - | - | - | - | - | - | 7.35 | 6.45 | 5.62 | 5.54 | 4.65 | 4.54 | 4.62 |
EV/EBITDA |
- | - | - | - | - | - | 8.0 | 7.3 | 8.4 | 8.3 | 8.1 | 9.9 | 11.0 | 10.8 | 16.8 |
PEG |
- | - | - | - | - | 3.35 | 2.65 | 1.23 | 0.71 | 1.11 | 9.64 | 0.81 | 7.55 | 2.91 | 0.56 |
P/B |
1.2 | 0.8 | 1.0 | 1.0 | 1.4 | 1.0 | 1.0 | 1.1 | 1.8 | 1.5 | 1.5 | 2.1 | 2.1 | 2.0 | 1.7 |
P/CF |
-2.2 | 1.7 | -1.7 | 2.9 | 2.9 | 0.4 | 108.4 | 15.6 | 4.1 | 2.0 | 2.2 | 3.7 | 2.7 | 5.8 | -59.4 |
ROE % |
16.07 | 7.68 | 9.49 | 15.65 | 14.32 | 12.46 | 13.30 | 14.07 | 14.01 | 12.16 | 12.09 | 14.22 | 12.99 | 13.40 | 12.57 |
ROA % |
0.98 | 0.43 | 0.54 | 0.91 | 0.83 | 0.69 | 0.82 | 0.84 | 0.81 | 0.75 | 0.72 | 0.82 | 0.76 | 0.78 | 0.86 |
ROCE % |
- | - | - | - | - | - | - | - | 14.71 | 12.76 | 12.38 | 14.53 | 12.51 | 12.00 | 5.79 |
Current Ratio |
1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.2 |
DSO |
30.1 | 35.1 | 33.4 | 22.2 | 19.4 | 20.1 | 21.4 | 11.0 | - | - | - | - | - | - | - |
DPO |
- | - | - | - | - | - | - | - | 1374.7 | 1034.8 | 1407.5 | 651.7 | 557.4 | 301.2 | 534.1 |
Operating Cycle |
30.1 | 35.1 | 33.4 | 22.2 | 19.4 | 20.1 | 21.4 | 11.0 | - | - | - | - | - | - | - |
Cash Conversion Cycle |
30.1 | 35.1 | 33.4 | 22.2 | 19.4 | 20.1 | 21.4 | 11.0 | -1374.7 | -1034.8 | -1407.5 | -651.7 | -557.4 | -301.2 | -534.1 |
All numbers in CAD currency
Quarterly Financial Ratios The Toronto-Dominion Bank
| 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
2.35 | 11.57 | 1.89 | 6.28 | 1.55 | 4.73 | -0.14 | 1.35 | 1.55 | 5.53 | 1.57 | 1.72 | 0.82 | 2.03 | - | - | 2.08 | 1.77 | - | 1.92 | 2 | 1.61 | - | 1.21 | 0.8 | 1.27 | - | 1.75 | 1.7 | 1.24 | - | 1.65 | 1.54 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROE % |
30.77 | 29.90 | 21.51 | 18.69 | 12.15 | 12.32 | 14.13 | 16.92 | 17.52 | 16.42 | 10.59 | 11.79 | 12.34 | 14.48 | 10.82 | 10.82 | 14.73 | 14.26 | 10.82 | 13.25 | 11.33 | 10.37 | 7.01 | 10.77 | 12.07 | 13.66 | 10.71 | 14.71 | 14.75 | 3.22 | - | 4.00 | 3.80 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROA % |
1.88 | 1.82 | 1.27 | 1.09 | 0.68 | 0.70 | 0.81 | 0.98 | 1.02 | 0.96 | 0.62 | 0.67 | 0.69 | 0.82 | 0.61 | 0.61 | 0.83 | 0.82 | 0.63 | 0.77 | 0.65 | 0.61 | 0.41 | 0.64 | 0.74 | 0.83 | 0.65 | 0.89 | 0.89 | 0.19 | - | 0.24 | 0.23 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Current Ratio |
1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | - | - | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | - | 1.1 | - | - | - | 1.1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DSO |
31.1 | 7.6 | 32.8 | 21.1 | 35.0 | 8.9 | 36.1 | 36.5 | 36.6 | 9.6 | 35.4 | 34.1 | 24.8 | 8.9 | - | - | 18.8 | 18.7 | - | 18.3 | 20.4 | 20.4 | - | 19.9 | 20.7 | 22.3 | - | 21.3 | 10.9 | 11.4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | - | - | - | - | - | - | - | - | - | - | - | - | 8.9 | - | - | 18.8 | 18.7 | - | 18.3 | 20.4 | 20.4 | - | 19.9 | 20.7 | 22.3 | - | 21.3 | 10.9 | 11.4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash Conversion Cycle |
- | - | - | - | - | - | - | - | - | - | - | - | - | 8.9 | - | - | 18.8 | 18.7 | - | 18.3 | 20.4 | 20.4 | - | 19.9 | 20.7 | 22.3 | - | 21.3 | 10.9 | 11.4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in CAD currency
Multiples are an important financial analysis tool for the company The Toronto-Dominion Bank, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.