TORONTO-DOMINION BANK (TD) Fundamental Analysis & Valuation

NYSE:TD • CA8911605092

Current stock price

95.24 USD
+2 (+2.15%)
At close:
95.14 USD
-0.1 (-0.1%)
After Hours:

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.
  • In the past year TD has reported a negative cash flow from operations.
  • 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 has a Return On Assets (1.01%) which is in line with its industry peers.
  • The Return On Equity of TD (16.89%) is better than 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

  • Looking at the Profit Margin, with a value of 30.16%, TD is in the better half of 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.
  • The Operating Margin and Gross Margin are not available for TD so they could not be analyzed.
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
  • TD has less shares outstanding than it did 5 years ago.
  • 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

  • TD has a Debt/Equity ratio of 2.16. This is a high value indicating a heavy dependency on external financing.
  • TD has a Debt to Equity ratio of 2.16. This is amonst the worse of the industry: TD underperforms 88.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.16
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC14.56%
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.
  • TD shows a strong growth in Revenue. In the last year, the Revenue has grown by 22.16%.
  • Measured over the past years, TD shows a quite strong growth in Revenue. The Revenue has been growing by 9.20% on average per year.
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 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

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • 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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2

4. TD Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.83, which indicates a correct valuation of TD.
  • Based on the Price/Earnings ratio, TD is valued a bit more expensive than the industry average as 75.07% of the companies are valued more cheaply.
  • When comparing the Price/Earnings ratio of TD to the average of the S&P500 Index (25.96), we can say TD is valued slightly cheaper.
  • The Price/Forward Earnings ratio is 12.16, which indicates a correct valuation of TD.
  • 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 24.04.
Industry RankSector Rank
PE 14.83
Fwd PE 12.16
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

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.95
PEG (5Y)1.59
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 3.32%, TD has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.90, 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 1.91.
Industry RankSector Rank
Dividend Yield 3.32%

5.2 History

  • The dividend of TD is nicely growing with an annual growth rate of 9.90%!
  • 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

  • TD pays out 28.35% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of TD is growing, but the earnings are growing slower. 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 (3/16/2026, 8:04:00 PM)

After market: 95.14 -0.1 (-0.1%)

95.24

+2 (+2.15%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-26
Earnings (Next)05-28
Inst Owners57.51%
Inst Owner Change-3.37%
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap159.85B
Revenue(TTM)70.31B
Net Income(TTM)21.21B
Analysts76.52
Price Target101.29 (6.35%)
Short Float %0.2%
Short Ratio1.36
Dividend
Industry RankSector Rank
Dividend Yield 3.32%
Yearly Dividend3.25
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)3.47%
EPS NQ rev (3m)4.65%
EPS NY rev (1m)3.56%
EPS NY rev (3m)5.48%
Revenue NQ rev (1m)0.73%
Revenue NQ rev (3m)1.54%
Revenue NY rev (1m)1.64%
Revenue NY rev (3m)3.04%
Valuation
Industry RankSector Rank
PE 14.83
Fwd PE 12.16
P/S 3.11
P/FCF N/A
P/OCF N/A
P/B 1.74
P/tB 2.11
EV/EBITDA N/A
EPS(TTM)6.42
EY6.74%
EPS(NY)7.83
Fwd EY8.22%
FCF(TTM)-3.9
FCFYN/A
OCF(TTM)-2.95
OCFYN/A
SpS30.62
BVpS54.7
TBVpS45.16
PEG (NY)0.95
PEG (5Y)1.59
Graham Number88.89
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
WACC14.56%
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 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 2 / 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%.