Executive Summary
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with proven track record and pays a dividend.
Similar Companies
Share Price & News
How has Toronto-Dominion Bank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TD is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: TD's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
0.2%
TD
1.4%
CA Banks
0.2%
CA Market
1 Year Return
1.4%
TD
0.2%
CA Banks
1.5%
CA Market
Return vs Industry: TD exceeded the Canadian Banks industry which returned 0.2% over the past year.
Return vs Market: TD matched the Canadian Market which returned 1.5% over the past year.
Shareholder returns
| TD | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.2% | 1.4% | 0.2% |
| 30 Day | 4.5% | 4.1% | 3.6% |
| 90 Day | 26.7% | 20.1% | 13.3% |
| 1 Year | 6.5%1.4% | 5.5%0.2% | 5.2%1.5% |
| 3 Year | 14.3%0.7% | 10.7%-3.2% | 13.1%2.3% |
| 5 Year | 79.7%47.4% | 83.2%48.4% | 69.3%43.3% |
Long-Term Price Volatility Vs. Market
How volatile is Toronto-Dominion Bank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
How Much Of The Toronto-Dominion Bank (TSE:TD) Do Institutions Own?1 month ago | Simply Wall St
Did You Participate In Any Of Toronto-Dominion Bank's (TSE:TD) Respectable 57% Return?2 months ago | Simply Wall St
A Quick Analysis On Toronto-Dominion Bank's (TSE:TD) CEO SalaryValuation
Is Toronto-Dominion Bank undervalued compared to its fair value and its price relative to the market?
7.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TD (CA$74.98) is trading below our estimate of fair value (CA$80.96)
Significantly Below Fair Value: TD is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: TD is good value based on its PE Ratio (11.7x) compared to the CA Banks industry average (13.4x).
PE vs Market: TD is good value based on its PE Ratio (11.7x) compared to the Canadian market (16.7x).
Price to Earnings Growth Ratio
PEG Ratio: TD is poor value based on its PEG Ratio (96.4x)
Price to Book Ratio
PB vs Industry: TD is overvalued based on its PB Ratio (1.5x) compared to the CA Banks industry average (1.3x).
Next Steps
Future Growth
How is Toronto-Dominion Bank forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
0.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TD's forecast earnings growth (0.1% per year) is below the savings rate (1.5%).
Earnings vs Market: TD's earnings (0.1% per year) are forecast to grow slower than the Canadian market (26.2% per year).
High Growth Earnings: TD's earnings are forecast to grow, but not significantly.
Revenue vs Market: TD's revenue (5.6% per year) is forecast to grow slower than the Canadian market (7.9% per year).
High Growth Revenue: TD's revenue (5.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TD's Return on Equity is forecast to be low in 3 years time (12.2%).
Next Steps
Past Performance
How has Toronto-Dominion Bank performed over the past 5 years?
7.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TD has high quality earnings.
Growing Profit Margin: TD's current net profit margins (31.9%) are higher than last year (30%).
Past Earnings Growth Analysis
Earnings Trend: TD's earnings have grown by 7.1% per year over the past 5 years.
Accelerating Growth: TD's earnings growth over the past year (1.8%) is below its 5-year average (7.1% per year).
Earnings vs Industry: TD earnings growth over the past year (1.8%) exceeded the Banks industry -11.4%.
Return on Equity
High ROE: TD's Return on Equity (12.5%) is considered low.
Next Steps
Financial Health
How is Toronto-Dominion Bank's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: TD's Assets to Equity ratio (18x) is moderate.
Allowance for Bad Loans: TD has a sufficient allowance for bad loans (263%).
Low Risk Liabilities: 71% of TD's liabilities are made up of primarily low risk sources of funding.
Loan Level: TD has an appropriate level of Loans to Assets ratio (42%).
Low Risk Deposits: TD's Loans to Deposits ratio (63%) is appropriate.
Level of Bad Loans: TD has an appropriate level of bad loans (0.4%).
Next Steps
Dividend
What is Toronto-Dominion Bank current dividend yield, its reliability and sustainability?
4.21%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TD's dividend (4.21%) is higher than the bottom 25% of dividend payers in the Canadian market (1.54%).
High Dividend: TD's dividend (4.21%) is low compared to the top 25% of dividend payers in the Canadian market (5%).
Stability and Growth of Payments
Stable Dividend: TD's dividend payments have been volatile in the past 10 years.
Growing Dividend: TD's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (48.3%), TD's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TD's dividends in 3 years are forecast to be well covered by earnings (49.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.0yrs
Average management tenure
CEO
Bharat Masrani (63 yo)
6.17yrs
Tenure
CA$12,636,569
Compensation
Mr. Bharat B. Masrani has been Director of Charles Schwab Corporation since October 06, 2020. He has been Chief Executive Officer and Group President at The Toronto-Dominion Bank since November 1, 2014. Mr...
CEO Compensation Analysis
Compensation vs Market: Bharat's total compensation ($USD9.92M) is above average for companies of similar size in the Canadian market ($USD6.58M).
Compensation vs Earnings: Bharat's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group President | 6.17yrs | CA$12.64m | 0.046% CA$ 63.2m | |
| Group Head & CFO | 5yrs | CA$4.00m | 0.022% CA$ 30.1m | |
| Group Head of Wholesale Banking | 15.17yrs | CA$7.43m | 0.031% CA$ 43.1m | |
| Group Head of Canadian Personal Banking | 10.17yrs | CA$6.59m | 0.00029% CA$ 397.1k | |
| Group Head of U.S. Retail Banking | 3.17yrs | CA$5.34m | 0.00041% CA$ 561.4k | |
| Chief Accountant & Senior VP of Finance | no data | no data | no data | |
| Group Head of Innovation | 3.17yrs | no data | 0% CA$ 0 | |
| Chief Information Officer & Executive VP | no data | no data | no data | |
| Vice President & Head of IR | no data | no data | no data | |
| Group Head & General Counsel | 0.83yr | no data | 0.00072% CA$ 986.0k | |
| Chief Marketing Officer & Executive VP | no data | no data | no data | |
| Executive Vice President of Treasury & Corporate Development | no data | no data | no data |
5.0yrs
Average Tenure
Experienced Management: TD's management team is seasoned and experienced (5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group President | 6.17yrs | CA$12.64m | 0.046% CA$ 63.2m | |
| Member of Advisory Board | no data | no data | no data | |
| Independent Director | 5.83yrs | CA$237.50k | 0.0020% CA$ 2.8m | |
| Independent Director | 9.33yrs | CA$292.50k | 0.00064% CA$ 876.4k | |
| Independent Director | 10.33yrs | CA$540.96k | 0.00013% CA$ 178.0k | |
| Independent Director | 14.67yrs | CA$247.50k | 0.0011% CA$ 1.5m | |
| Independent Director | 7.08yrs | CA$245.00k | 0.00039% CA$ 534.1k | |
| Independent Non-Executive Chairman of the Board | 10yrs | CA$448.33k | 0.0016% CA$ 2.3m | |
| Independent Director | 12.75yrs | CA$225.00k | 0.00034% CA$ 465.6k | |
| Independent Director | 8.83yrs | CA$245.00k | 0.00048% CA$ 657.3k | |
| Independent Director | 5.83yrs | CA$247.50k | 0.00025% CA$ 342.3k | |
| Independent Director | 6.75yrs | CA$640.94k | 0.00022% CA$ 301.3k |
8.8yrs
Average Tenure
64yo
Average Age
Experienced Board: TD's board of directors are considered experienced (8.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: TD insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
The Toronto-Dominion Bank's company bio, employee growth, exchange listings and data sources
Key Information
- Name: The Toronto-Dominion Bank
- Ticker: TD
- Exchange: TSX
- Founded: 1855
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: CA$136.938b
- Shares outstanding: 1.82b
- Website: https://www.td.com
Number of Employees
Location
- The Toronto-Dominion Bank
- Toronto-Dominion Centre
- King Street West and Bay Street
- Toronto
- Ontario
- M5K 1A2
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TD | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Dec 1972 |
| TD | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Dec 1972 |
| TDB | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Dec 1972 |
| 0VL8 | LSE (London Stock Exchange) | Yes | Common Shares | GB | CAD | Dec 1972 |
| TD.PFB | TSX (The Toronto Stock Exchange) | 5YR RST PFD SR 3 | CA | CAD | Aug 2014 | |
| TNTT.F | OTCPK (Pink Sheets LLC) | 5YR RST PFD SR 3 | US | USD | Aug 2014 | |
| TDBK.F | OTCPK (Pink Sheets LLC) | PFD-7 CONV | US | CAD | Mar 2015 | |
| TD.PFG | TSX (The Toronto Stock Exchange) | PFD SHS SER 12 | CA | CAD | Jan 2016 | |
| TNTO.F | OTCPK (Pink Sheets LLC) | PFD SHS SER 12 | US | USD | Jan 2016 | |
| TD.PFH | TSX (The Toronto Stock Exchange) | 4.85 PFD SR 14 | CA | CAD | Sep 2016 | |
| TD.PFI | TSX (The Toronto Stock Exchange) | PFD SER 16 | CA | CAD | Jul 2017 | |
| TD.PFK | TSX (The Toronto Stock Exchange) | PFD SHS NCM 20 | CA | CAD | Sep 2018 | |
| TD.PFL | TSX (The Toronto Stock Exchange) | NON CUM PFD 22 | CA | CAD | Jan 2019 | |
| TD.PFM | TSX (The Toronto Stock Exchange) | NON CUM PFD 24 | CA | CAD | Jun 2019 |
Biography
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segment...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/19 23:06 |
| End of Day Share Price | 2021/01/19 00:00 |
| Earnings | 2020/10/31 |
| Annual Earnings | 2020/10/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.