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BNS vs. TD: Bank of Nova Scotia vs. Toronto-Dominion Bank Stock Comparison

How do Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.

Company profile comparison for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
Profile ItemBNSTD
NameBank of Nova ScotiaToronto-Dominion Bank
Country/RegionCanadaCanada
GICS SectorFinancialsFinancials
GICS Industry GroupBanksBanks
GICS IndustryBanksBanks
GICS Sub-IndustryDiversified BanksDiversified Banks
Market Capitalization111.75 billion USD199.88 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateJune 7, 2002August 30, 1996
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

BNS
TD
GSPC
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
Total Return (1Y)44.24%57.20%
Total Return (3Y, Annualized)35.89%32.99%
Total Return (5Y, Annualized)12.57%15.46%

Risk Profile

Drawdown History

BNS
TD
GSPC
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
Volatility (1Y, Annualized)20.52%19.05%
Beta (5Y)1.140.72
Max Drawdown (5Y)-40.53%-31.16%
Avg. Volume (3M)1.76M1.81M

Risk-Adjusted Performance

Risk-Return Positioning

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BNS and TD are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
Sharpe Ratio (1Y)1.952.78
Sortino Ratio (1Y)2.994.15

Profitability

ROE (TTM)

Both Bank of Nova Scotia (BNS) at 11.46% and Toronto-Dominion Bank (TD) at 12.83% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

BNS

Banks industry group

11.46%

Max
19.84%
Q3
13.67%
Median
11.49%
BNS
11.46%
Q1
9.50%
Min
3.64%

TD

Banks industry group

12.83%

Max
19.84%
Q3
13.67%
TD
12.83%
Median
11.49%
Q1
9.50%
Min
3.64%
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their ROE against the Banks industry group benchmark.

Net Margin (TTM)

Bank of Nova Scotia (BNS) at 28.43% keeps about the industry-typical share of revenue as profit, while Toronto-Dominion Bank (TD) at 26.62% retains only a bottom-quartile share.

BNS

Banks industry group

28.43%

Max
47.19%
Q3
35.25%
Median
31.21%
BNS
28.43%
Q1
27.11%
Min
14.93%

TD

Banks industry group

26.62%

Max
47.19%
Q3
35.25%
Median
31.21%
Q1
27.11%
TD
26.62%
Min
14.93%
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their net margin against the Banks industry group benchmark.

Operating Margin (TTM)

Neither side reports a meaningful operating margin: for Bank of Nova Scotia (BNS) in Banks and Toronto-Dominion Bank (TD) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Profitability metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
ROE (TTM)11.46%12.83%
ROA (TTM)0.68%0.78%
Net Margin (TTM)28.43%26.62%
Operating Margin (TTM)----
Gross Margin (TTM)----

Growth

Revenue Growth

Both Bank of Nova Scotia (BNS) at 10.36% and Toronto-Dominion Bank (TD) at 8.93% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their Revenue Growth across different time periods.

EPS Growth

Toronto-Dominion Bank (TD) at 144.92% delivers above-range EPS growth, while Bank of Nova Scotia (BNS) at -3.41% falls into the bottom quartile — a wide split in earnings momentum.

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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
Revenue Growth (YoY)10.36%8.93%
Revenue Growth (3Y CAGR)5.59%10.22%
EPS Growth (YoY)-3.41%144.92%
EPS Growth (3Y CAGR)-10.92%6.87%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Bank of Nova Scotia (BNS) in Banks and Toronto-Dominion Bank (TD) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: Bank of Nova Scotia (BNS) in Banks and Toronto-Dominion Bank (TD) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
Current Ratio (MRQ)----
Debt / Equity (MRQ)----
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Both Bank of Nova Scotia (BNS) at 4.84% and Toronto-Dominion Bank (TD) at 3.52% offer top-quartile dividend income relative to share price within their industries.

BNS

Banks industry group

4.84%

Max
5.79%
BNS
4.84%
Q3
3.18%
Median
2.39%
Q1
1.20%
Min
0.00%

TD

Banks industry group

3.52%

Max
5.79%
TD
3.52%
Q3
3.18%
Median
2.39%
Q1
1.20%
Min
0.00%
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their dividend yield against the Banks industry group benchmark.

Dividend Payout Ratio (TTM)

Both Bank of Nova Scotia (BNS) at 58.04% and Toronto-Dominion Bank (TD) at 46.36% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

BNS

Banks industry group

58.04%

Max
70.75%
BNS
58.04%
Q3
41.28%
Median
29.26%
Q1
18.98%
Min
0.00%

TD

Banks industry group

46.36%

Max
70.75%
TD
46.36%
Q3
41.28%
Median
29.26%
Q1
18.98%
Min
0.00%
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their payout ratio against the Banks industry group benchmark.

Dividend Metrics

Dividend metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
Dividend Yield (TTM)4.84%3.52%
Dividend Payout Ratio (TTM)58.04%46.36%

Valuation

P/E Ratio (TTM)

Both Bank of Nova Scotia (BNS) at 16.61 and Toronto-Dominion Bank (TD) at 18.16 sit in the richer earnings-multiple quartile for P/E ratio, so investors are paying more for TTM earnings than they pay for typical peers.

BNS

Banks industry group

16.61

Max
18.16
BNS
16.61
Q3
13.75
Median
11.81
Q1
10.64
Min
6.49

TD

Banks industry group

18.16

TD
18.16
Max
18.16
Q3
13.75
Median
11.81
Q1
10.64
Min
6.49
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their P/E ratio against the Banks industry group benchmark.

P/S Ratio (TTM)

P/S ratio is set aside for both Bank of Nova Scotia (BNS) in Banks and Toronto-Dominion Bank (TD) in Banks: without a conventional revenue line, pricing per dollar of sales isn’t meaningful, and book- or earnings-based multiples make the better comparison.

P/B Ratio (MRQ)

Both Bank of Nova Scotia (BNS) at 1.76 and Toronto-Dominion Bank (TD) at 2.27 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

BNS

Banks industry group

1.76

Max
2.28
BNS
1.76
Q3
1.58
Median
1.32
Q1
1.10
Min
0.59

TD

Banks industry group

2.27

Max
2.28
TD
2.27
Q3
1.58
Median
1.32
Q1
1.10
Min
0.59
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Bank of Nova Scotia (BNS) vs. Toronto-Dominion Bank (TD): A comparison of their P/B ratio against the Banks industry group benchmark.

Valuation Metrics

Valuation metrics for Bank of Nova Scotia (BNS) and Toronto-Dominion Bank (TD)
MetricBNSTD
P/E Ratio (TTM)16.6118.16
P/S Ratio (TTM)----
P/B Ratio (MRQ)1.762.27
Free Cash Flow Yield (TTM)----