TORONTO-DOMINION BANK (TD) Fundamental Analysis & Valuation

NYSE:TD • CA8911605092

94.03 USD
-1.87 (-1.95%)
At close: Mar 12, 2026
94.03 USD
0 (0%)
After Hours: 3/12/2026, 8:12:42 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

3

Overall TD gets a fundamental rating of 3 out of 10. We evaluated TD against 381 industry peers in the Banks industry. Both the profitability and financial health of TD have multiple concerns. While showing a medium growth rate, TD is valued expensive at the moment. TD also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

3

1. TD Profitability Analysis

1.1 Basic Checks

  • In the past year TD was profitable.
  • In the past year TD has reported a negative cash flow from operations.
  • In the past 5 years TD has always been profitable.
  • In multiple years TD reported negative operating cash flow during the last 5 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

  • With a Return On Assets value of 1.01%, TD perfoms like the industry average, outperforming 58.27% of the companies in the same industry.
  • TD has a Return On Equity of 16.89%. This is amongst the best in the industry. TD outperforms 95.28% 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

  • With a decent Profit Margin value of 30.16%, TD is doing good in the industry, outperforming 77.17% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TD has grown nicely.
  • 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.
  • TD has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, TD has less shares outstanding
  • The debt/assets ratio for TD is higher compared to a year ago.
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 has a worse Debt to Equity ratio (2.16) than 88.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.16
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC14.58%
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

  • The Earnings Per Share has grown by an nice 12.26% over the past year.
  • The Earnings Per Share has been growing by 9.32% on average over the past years. This is quite good.
  • Looking at the last year, TD shows a very strong growth in Revenue. The Revenue has grown by 22.16%.
  • TD shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.20% yearly.
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

  • The Earnings Per Share is expected to grow by 4.72% on average over the next years.
  • TD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.07% yearly.
EPS Next Y15.6%
EPS Next 2Y13.15%
EPS Next 3Y11.87%
EPS Next 5Y4.72%
Revenue Next Year7.28%
Revenue Next 2Y5.74%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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3

4. TD Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.53, which indicates a correct valuation of TD.
  • Based on the Price/Earnings ratio, TD is valued a bit more expensive than 73.49% of the companies in the same industry.
  • TD's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.71.
  • With a Price/Forward Earnings ratio of 11.93, the valuation of TD can be described as very reasonable.
  • 67.72% of the companies in the same industry are cheaper than TD, based on the Price/Forward Earnings ratio.
  • TD's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.82.
Industry RankSector Rank
PE 14.53
Fwd PE 11.93
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.93
PEG (5Y)1.56
EPS Next 2Y13.15%
EPS Next 3Y11.87%

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

7

5. TD Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.16%, TD has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.86, TD has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, TD pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.16%

5.2 History

  • On average, the dividend of TD grows each year by 9.90%, which is quite nice.
  • TD has paid a dividend for at least 10 years, which is a reliable track record.
  • TD has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)9.9%
Div Incr Years14
Div Non Decr Years18
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

  • 28.35% of the earnings are spent on dividend by TD. This is a low number and sustainable payout ratio.
  • TD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP28.35%
EPS Next 2Y13.15%
EPS Next 3Y11.87%
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 (3/12/2026, 8:12:42 PM)

After market: 94.03 0 (0%)

94.03

-1.87 (-1.95%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-26
Earnings (Next)05-28
Inst Owners58.1%
Inst Owner Change-3.82%
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap157.82B
Revenue(TTM)70.31B
Net Income(TTM)21.21B
Analysts76.52
Price Target101.29 (7.72%)
Short Float %0.33%
Short Ratio2.31
Dividend
Industry RankSector Rank
Dividend Yield 3.16%
Yearly Dividend3.27
Dividend Growth(5Y)9.9%
DP28.35%
Div Incr Years14
Div Non Decr Years18
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)4.67%
PT rev (3m)13.75%
EPS NQ rev (1m)2.67%
EPS NQ rev (3m)3.84%
EPS NY rev (1m)3.56%
EPS NY rev (3m)5.48%
Revenue NQ rev (1m)0.45%
Revenue NQ rev (3m)1.25%
Revenue NY rev (1m)1.64%
Revenue NY rev (3m)3.04%
Valuation
Industry RankSector Rank
PE 14.53
Fwd PE 11.93
P/S 3.05
P/FCF N/A
P/OCF N/A
P/B 1.71
P/tB 2.07
EV/EBITDA N/A
EPS(TTM)6.47
EY6.88%
EPS(NY)7.88
Fwd EY8.38%
FCF(TTM)-3.93
FCFYN/A
OCF(TTM)-2.97
OCFYN/A
SpS30.82
BVpS55.05
TBVpS45.45
PEG (NY)0.93
PEG (5Y)1.56
Graham Number89.52
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
WACC14.58%
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 Y15.6%
EPS Next 2Y13.15%
EPS Next 3Y11.87%
EPS Next 5Y4.72%
Revenue 1Y (TTM)22.16%
Revenue growth 3Y11.4%
Revenue growth 5Y9.2%
Sales Q2Q%6.82%
Revenue Next Year7.28%
Revenue Next 2Y5.74%
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 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.


Can you provide the profitability details for TORONTO-DOMINION BANK?

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


Can you provide the expected EPS growth for TD stock?

The Earnings per Share (EPS) of TORONTO-DOMINION BANK (TD) is expected to grow by 15.6% in the next year.


How sustainable is the dividend of TORONTO-DOMINION BANK (TD) stock?

The dividend rating of TORONTO-DOMINION BANK (TD) is 7 / 10 and the dividend payout ratio is 28.35%.