Bank Of Nova Scotia
Research Bank Of Nova Scotia (BNS) on Bullrun: valuation model: 19.4% overvalued, market cap USD 111.75B, P/E 16.6, dividend yield 1.7%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerBNS
- ExchangeNYSE
- CountryCanada
- SectorFinancial Services
- IndustryBanks-Diversified
- CurrencyUSD
- Valuation signal19.4% overvalued
- Market capUSD 111.75B
- P/E16.6
- Dividend yield1.7%
- Financial periodQ3 2026
- RevenueCAD 10.31B
- Net incomeCAD 2.91B
- Free cash flow-CAD 16.93B
Valuation Snapshot
Bullrun's latest valuation model marks Bank Of Nova Scotia as 19.4% overvalued; latest market cap is USD 111.75B; P/E is 16.6; dividend yield is 1.7%.
Peer valuation comparison
Latest P/E is 16.59x versus a Financial Services sector median of 13.04x (27.2% above).
Latest dividend yield is 1.72% versus a Financial Services sector median of 3.48% (50.6% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | CAD 37.10B | CAD 7.79B | CAD 5.06B | n/a | 5.67 | CAD 65.97B | CAD 314.88B | CAD 86.87B |
| FY2024 | CAD 33.62B | CAD 7.76B | CAD 15.16B | n/a | 5.87 | CAD 63.86B | CAD 300.67B | CAD 82.37B |
| FY2023 | CAD 31.69B | CAD 7.34B | CAD 31.28B | n/a | 5.72 | CAD 90.31B | CAD 313.81B | CAD 76.84B |
| FY2022 | CAD 31.51B | CAD 9.92B | CAD 16.37B | n/a | 8.02 | CAD 65.90B | CAD 310.86B | CAD 73.23B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-11-06 | USD 111.75B | 16.6 | 1.7% | 1.6 |
| 2025 | 2025-12-31 | USD 91.10B | 18.2 | 1.1% | 0.81 |
| 2024 | 2024-12-31 | USD 66.85B | 12.4 | 5.9% | 3.15 |
| 2023 | 2023-12-29 | USD 59.11B | 11.4 | 6.4% | 3.11 |
| 2022 | 2022-12-30 | USD 58.35B | 7.9 | 6.4% | 3.14 |
| 2021 | 2021-12-31 | USD 87.15B | 11.7 | 5.1% | 3.66 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 1.6 USD, yield 1.7%.
| Year | Dividends/share |
|---|---|
| FY2025 | 0.81 CAD |
| FY2024 | 3.15 CAD |
| FY2023 | 3.11 CAD |
| FY2022 | 2.35 CAD |
About Bank Of Nova Scotia
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals;
ETFs that hold Bank Of Nova Scotia
Bank Of Nova Scotia is one of the ten largest holdings of 14 ETFs that investors in Europe can buy. The 8 most traded of them:
| ETF | Weight | TER |
|---|---|---|
| iSh MSCI Canada USD A | 3.74% | 0.48% |
| UBS MSCI Canada UCITS ETF CAD dis | 3.74% | 0.33% |
| HSBC MSCI Canada UCITS ETF | 3.73% | 0.35% |
| UBS MSCI Canada UCITS ETF CAD acc | 3.74% | 0.33% |
| Xtrackers MSCI Canada Screened UCITS ETF 1C | 3.83% | 0.35% |
| UBS MSCI Canada UCITS ETF hEUR acc | 3.74% | 0.36% |
| UBS MSCI Canada UCITS ETF hUSD acc | 3.74% | 0.36% |
| UBS MSCI Canada UCITS ETF hGBP acc | 3.74% | 0.36% |
US-listed ETFs
Bank Of Nova Scotia is held by 77 US-listed ETFs, going by the latest portfolios they filed with the SEC. The 8 most traded of them:
| ETF | Weight | Fee |
|---|---|---|
| Vanguard FTSE Developed Markets Index Fund ETF Shares (VEA) | 0.33% | 0.03% |
| Vanguard Total International Stock Index Fund ETF Shares (VXUS) | 0.25% | 0.05% |
| Vanguard Total World Stock Index Fund ETF Shares (VT) | 0.09% | 0.06% |
| iShares MSCI ACWI ETF (ACWI) | 0.11% | 0.32% |
| iShares MSCI ACWI ex U.S. ETF (ACWX) | 0.29% | 0.32% |
| Schwab International Equity ETF (SCHF) | 0.34% | 0.03% |
| Vanguard FTSE All-World ex-US Index Fund ETF Shares (VEU) | 0.27% | 0.04% |
| iShares Core MSCI Total International Stock ETF (IXUS) | 0.26% | 0.07% |
Portfolios as filed with the SEC on Form N-PORT, dated May to July 2026. Brokers in the EU generally do not offer US-listed ETFs to retail investors.
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Frequently asked questions
Is Bank Of Nova Scotia overvalued or undervalued?
Bullrun's valuation model currently marks Bank Of Nova Scotia as 19.4% overvalued.
What is Bank Of Nova Scotia's market cap?
Bank Of Nova Scotia's market capitalization is USD 111.75B.
What is Bank Of Nova Scotia's P/E ratio?
Bank Of Nova Scotia's price-to-earnings (P/E) ratio is 16.6.
Does Bank Of Nova Scotia pay a dividend?
Bank Of Nova Scotia has a dividend yield of 1.7%.
What does Bank Of Nova Scotia do?
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions.