TORONTO-DOMINION BANK (TD) Fundamental Analysis & Valuation

NYSE:TD • CA8911605092

Current stock price

105.015 USD
+0.45 (+0.43%)
Last:

This TD fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. TD Profitability Analysis

1.1 Basic Checks

  • In the past year TD was profitable.
  • TD had a negative operating cash flow in the past year.
  • Each year in the past 5 years TD has been profitable.
  • The reported operating cash flow has been mixed in the past 5 years: TD reported negative operating cash flow in multiple years.
TD Yearly Net Income VS EBIT VS OCF VS FCFTD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100B 200B

1.2 Ratios

  • TD's Return On Assets of 1.01% is in line compared to the rest of the industry. TD outperforms 55.59% of its industry peers.
  • TD has a Return On Equity of 16.89%. This is amongst the best in the industry. TD outperforms 95.21% of its industry peers.
Industry RankSector Rank
ROA 1.01%
ROE 16.89%
ROIC N/A
ROA(3y)0.62%
ROA(5y)0.72%
ROE(3y)10.61%
ROE(5y)12.26%
ROIC(3y)N/A
ROIC(5y)N/A
TD Yearly ROA, ROE, ROICTD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • TD's Profit Margin of 30.16% is fine compared to the rest of the industry. TD outperforms 75.00% of its industry peers.
  • TD's Profit Margin has improved in the last couple of years.
  • TD does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 30.16%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.59%
PM growth 5Y2.04%
GM growth 3YN/A
GM growth 5YN/A
TD Yearly Profit, Operating, Gross MarginsTD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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1

2. TD Health Analysis

2.1 Basic Checks

  • TD does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, TD has less shares outstanding
  • The number of shares outstanding for TD has been reduced compared to 5 years ago.
  • Compared to 1 year ago, TD has a worse debt to assets ratio.
TD Yearly Shares OutstandingTD Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
TD Yearly Total Debt VS Total AssetsTD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500B 1T 1.5T 2T

2.2 Solvency

  • A Debt/Equity ratio of 2.16 is on the high side and indicates that TD has dependencies on debt financing.
  • TD's Debt to Equity ratio of 2.16 is on the low side compared to the rest of the industry. TD is outperformed by 89.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.16
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC14.27%
TD Yearly LT Debt VS Equity VS FCFTD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100B 200B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
TD Yearly Current Assets VS Current LiabilitesTD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200B 400B 600B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. TD Growth Analysis

3.1 Past

  • TD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.26%, which is quite good.
  • Measured over the past years, TD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.32% on average per year.
  • The Revenue has grown by 22.16% in the past year. This is a very strong growth!
  • The Revenue has been growing by 9.20% on average over the past years. This is quite good.
EPS 1Y (TTM)12.26%
EPS 3Y0%
EPS 5Y9.32%
EPS Q2Q%20.79%
Revenue 1Y (TTM)22.16%
Revenue growth 3Y11.4%
Revenue growth 5Y9.2%
Sales Q2Q%6.82%

3.2 Future

  • Based on estimates for the next years, TD will show a small growth in Earnings Per Share. The EPS will grow by 4.72% on average per year.
  • The Revenue is expected to grow by 5.07% on average over the next years.
EPS Next Y16.3%
EPS Next 2Y13.45%
EPS Next 3Y10.95%
EPS Next 5Y4.72%
Revenue Next Year7.36%
Revenue Next 2Y5.91%
Revenue Next 3Y5%
Revenue Next 5Y5.07%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
TD Yearly Revenue VS EstimatesTD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B
TD Yearly EPS VS EstimatesTD Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2 4 6 8 10

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2

4. TD Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 16.33, the valuation of TD can be described as correct.
  • Based on the Price/Earnings ratio, TD is valued a bit more expensive than the industry average as 77.13% of the companies are valued more cheaply.
  • When comparing the Price/Earnings ratio of TD to the average of the S&P500 Index (27.50), we can say TD is valued slightly cheaper.
  • TD is valuated correctly with a Price/Forward Earnings ratio of 13.32.
  • TD's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. TD is more expensive than 71.81% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of TD to the average of the S&P500 Index (22.62), we can say TD is valued slightly cheaper.
Industry RankSector Rank
PE 16.33
Fwd PE 13.32
TD Price Earnings VS Forward Price EarningsTD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
TD Per share dataTD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

  • TD's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1
PEG (5Y)1.75
EPS Next 2Y13.45%
EPS Next 3Y10.95%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. TD Dividend Analysis

5.1 Amount

  • TD has a Yearly Dividend Yield of 2.99%.
  • Compared to an average industry Dividend Yield of 2.57, TD pays a bit more dividend than its industry peers.
  • TD's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 2.99%

5.2 History

  • On average, the dividend of TD grows each year by 9.90%, which is quite nice.
  • TD has been paying a dividend for at least 10 years, so it has a reliable track record.
  • TD has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.9%
Div Incr Years15
Div Non Decr Years19
TD Yearly Dividends per shareTD Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

5.3 Sustainability

  • TD pays out 28.35% of its income as dividend. This is a sustainable payout ratio.
  • TD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP28.35%
EPS Next 2Y13.45%
EPS Next 3Y10.95%
TD Yearly Income VS Free CF VS DividendTD Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100B 200B
TD Dividend Payout.TD Dividend Payout, showing the Payout Ratio.TD Dividend Payout.PayoutRetained Earnings

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TD Fundamentals: All Metrics, Ratios and Statistics

TORONTO-DOMINION BANK

NYSE:TD (4/23/2026, 3:08:00 PM)

105.015

+0.45 (+0.43%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-26
Earnings (Next)05-28
Inst Owners57.71%
Inst Owner Change-0.39%
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap175.51B
Revenue(TTM)70.31B
Net Income(TTM)21.21B
Analysts76.52
Price Target105.33 (0.3%)
Short Float %0.65%
Short Ratio4.02
Dividend
Industry RankSector Rank
Dividend Yield 2.99%
Yearly Dividend3.26
Dividend Growth(5Y)9.9%
DP28.35%
Div Incr Years15
Div Non Decr Years19
Ex-Date04-09
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.55%
Min EPS beat(2)4.29%
Max EPS beat(2)4.81%
EPS beat(4)4
Avg EPS beat(4)5.39%
Min EPS beat(4)3.97%
Max EPS beat(4)8.48%
EPS beat(8)6
Avg EPS beat(8)2.09%
EPS beat(12)7
Avg EPS beat(12)-0.12%
EPS beat(16)9
Avg EPS beat(16)0.07%
Revenue beat(2)0
Avg Revenue beat(2)-0.32%
Min Revenue beat(2)-0.33%
Max Revenue beat(2)-0.3%
Revenue beat(4)1
Avg Revenue beat(4)0.36%
Min Revenue beat(4)-2.05%
Max Revenue beat(4)4.13%
Revenue beat(8)4
Avg Revenue beat(8)3.48%
Revenue beat(12)7
Avg Revenue beat(12)3.32%
Revenue beat(16)9
Avg Revenue beat(16)3.74%
PT rev (1m)3.99%
PT rev (3m)10.57%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.47%
EPS NY rev (1m)0.6%
EPS NY rev (3m)4.19%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.73%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)1.72%
Valuation
Industry RankSector Rank
PE 16.33
Fwd PE 13.32
P/S 3.41
P/FCF N/A
P/OCF N/A
P/B 1.91
P/tB 2.31
EV/EBITDA N/A
EPS(TTM)6.43
EY6.12%
EPS(NY)7.88
Fwd EY7.51%
FCF(TTM)-3.92
FCFYN/A
OCF(TTM)-2.97
OCFYN/A
SpS30.79
BVpS54.99
TBVpS45.4
PEG (NY)1
PEG (5Y)1.75
Graham Number89.1956 (-15.06%)
Profitability
Industry RankSector Rank
ROA 1.01%
ROE 16.89%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 30.16%
GM N/A
FCFM N/A
ROA(3y)0.62%
ROA(5y)0.72%
ROE(3y)10.61%
ROE(5y)12.26%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.59%
PM growth 5Y2.04%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 2.16
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 99.95%
Cap/Sales 3.1%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC14.27%
ROIC/WACCN/A
Cap/Depr(3y)100.98%
Cap/Depr(5y)87.98%
Cap/Sales(3y)3.54%
Cap/Sales(5y)3.24%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.26%
EPS 3Y0%
EPS 5Y9.32%
EPS Q2Q%20.79%
EPS Next Y16.3%
EPS Next 2Y13.45%
EPS Next 3Y10.95%
EPS Next 5Y4.72%
Revenue 1Y (TTM)22.16%
Revenue growth 3Y11.4%
Revenue growth 5Y9.2%
Sales Q2Q%6.82%
Revenue Next Year7.36%
Revenue Next 2Y5.91%
Revenue Next 3Y5%
Revenue Next 5Y5.07%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y90.3%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y92.5%
OCF growth 3YN/A
OCF growth 5YN/A

TORONTO-DOMINION BANK / TD Fundamental Analysis FAQ

What is the ChartMill fundamental rating of TORONTO-DOMINION BANK (TD) stock?

ChartMill assigns a fundamental rating of 3 / 10 to TD.


What is the valuation status of TORONTO-DOMINION BANK (TD) stock?

ChartMill assigns a valuation rating of 3 / 10 to TORONTO-DOMINION BANK (TD). This can be considered as Overvalued.


How profitable is TORONTO-DOMINION BANK (TD) stock?

TORONTO-DOMINION BANK (TD) has a profitability rating of 3 / 10.


What is the valuation of TORONTO-DOMINION BANK based on its PE and PB ratios?

The Price/Earnings (PE) ratio for TORONTO-DOMINION BANK (TD) is 16.33 and the Price/Book (PB) ratio is 1.91.


What is the financial health of TORONTO-DOMINION BANK (TD) stock?

The financial health rating of TORONTO-DOMINION BANK (TD) is 1 / 10.