Toronto Dominion Bank
Research Toronto Dominion Bank (TD) on Bullrun: valuation model: 18.0% overvalued, market cap USD 188.58B, P/E 17.1, dividend yield 2.0%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerTD
- ExchangeNYSE
- CountryCanada
- SectorFinancial Services
- IndustryBanks-Diversified
- CurrencyUSD
- Valuation signal18.0% overvalued
- Market capUSD 188.58B
- P/E17.1
- Dividend yield2.0%
- Financial periodQ3 2026
- RevenueCAD 16.78B
- Net incomeCAD 4.62B
- Free cash flow-CAD 6.59B
Valuation Snapshot
Bullrun's latest valuation model marks Toronto Dominion Bank as 18.0% overvalued; latest market cap is USD 188.58B; P/E is 17.1; dividend yield is 2.0%.
Peer valuation comparison
Latest P/E is 17.11x versus a Financial Services sector median of 13.39x (27.7% above).
Latest dividend yield is 2.02% versus a Financial Services sector median of 3.67% (45.0% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | CAD 61.28B | CAD 20.54B | -CAD 71.79B | n/a | 11.56 | CAD 116.93B | CAD 442.43B | CAD 127.83B |
| FY2024 | CAD 56.26B | CAD 8.84B | CAD 52.76B | n/a | 4.72 | CAD 178.02B | CAD 460.66B | CAD 115.16B |
| FY2023 | CAD 51.52B | CAD 10.63B | -CAD 67.15B | n/a | 5.52 | CAD 105.07B | CAD 401.81B | CAD 112.07B |
| FY2022 | CAD 45.76B | CAD 17.43B | CAD 37.50B | n/a | 9.47 | CAD 145.85B | CAD 374.04B | CAD 111.38B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 188.58B | 17.1 | 2.0% | 2.36 |
| 2025 | 2025-12-31 | USD 158.13B | 11.5 | 0.8% | 0.77 |
| 2024 | 2024-12-31 | USD 93.18B | 15.3 | 5.6% | 3 |
| 2023 | 2023-12-29 | USD 115.72B | 15.8 | 4.4% | 2.84 |
| 2022 | 2022-12-30 | USD 117.91B | 8.9 | 4.2% | 2.74 |
| 2021 | 2021-12-31 | USD 139.92B | 12.5 | 3.3% | 2.51 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 2.36 USD, yield 2.0%.
| Year | Dividends/share |
|---|---|
| FY2025 | 0.77 CAD |
| FY2024 | 3 CAD |
| FY2023 | 2.84 CAD |
| FY2022 | 2.74 CAD |
About Toronto Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking; U.S. Retail; Wealth Management and Insurance; and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and banking services to businesses;
ETFs that hold Toronto Dominion Bank
Toronto Dominion Bank is one of the ten largest holdings of 25 ETFs that investors in Europe can buy. The 8 most traded of them:
| ETF | Weight | TER |
|---|---|---|
| Invesco Global Active ESG Equity UCITS ETF USD Acc | 1.69% | 0.30% |
| iSh MSCI Canada USD A | 6.47% | 0.48% |
| UBS MSCI Canada UCITS ETF CAD dis | 6.47% | 0.33% |
| HSBC MSCI Canada UCITS ETF | 6.50% | 0.35% |
| Xtrackers MSCI Canada Screened UCITS ETF 1C | 6.84% | 0.35% |
| UBS MSCI Canada UCITS ETF CAD acc | 6.47% | 0.33% |
| Xtrackers MSCI World Momentum ESG UCITS ETF 1C | 2.27% | 0.25% |
| iShares MSCI World Momentum Factor Advanced UCITS ETF USD (Acc) | 2.10% | 0.25% |
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Frequently asked questions
Is Toronto Dominion Bank overvalued or undervalued?
Bullrun's valuation model currently marks Toronto Dominion Bank as 18.0% overvalued.
What is Toronto Dominion Bank's market cap?
Toronto Dominion Bank's market capitalization is USD 188.58B.
What is Toronto Dominion Bank's P/E ratio?
Toronto Dominion Bank's price-to-earnings (P/E) ratio is 17.1.
Does Toronto Dominion Bank pay a dividend?
Toronto Dominion Bank has a dividend yield of 2.0%.
What does Toronto Dominion Bank do?
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking; U.S. Retail; Wealth Management and Insurance; and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.