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Earnings transcript
Read the complete earnings call transcript.
BNS
The Bank of Nova Scotia
$70.12
-0.07
(-0.1%)
| Exchange: | NYSE |
| Market Cap: | 86.74B |
| Shares Outstanding: | 913.609M |
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Diversified | |||||
| CEO: | L. Scott Thomson | |||||
| Full Time Employees: | 88722 | |||||
| Address: |
| |||||
| Website: | https://www.scotiabank.com |
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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses, including automotive financing solutions to dealers and their customers. It also provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternative funds, and institutional funds. In addition, the company offers international banking services for retail, corporate, and commercial customers; and lending and transaction, investment banking advisory, and capital markets access services to corporate customers. Further, it provides online, mobile, and telephone banking services. The company operates a network of 954 branches and approximately 3,766 automated banking machines in Canada; and approximately 1,300 branches and a network of contact and support center internationally. The Bank of Nova Scotia was founded in 1832 and is headquartered in Halifax, Canada.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 31,787,000 | 29,483,000 | 73,177,000 |
| Gross Profit | 31,787,000 | 29,564,000 | 32,383,000 |
| EBITDA | 0 | 10,556,000 | 12,113,000 |
| Operating Income | 8,690,000 | 13,184,000 | 10,509,000 |
| Net Income | 7,410,000 | 7,758,000 | 7,789,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,410,789,000 | 1,412,027,000 | 1,460,042,000 |
| Total Liabilities | 1,332,122,000 | 1,327,951,000 | 1,371,455,000 |
| Total Stockholders Equity | 76,928,000 | 82,369,000 | 86,866,000 |
| Total Debt | 313,813,000 | 300,673,000 | 504,024,000 |
| Cash and Cash Equivalents | 90,312,000 | 63,860,000 | 65,967,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 31,724,000 | 15,652,000 | 5,407,000 |
| Capital Expenditure | -442,000 | -489,000 | -347,000 |
| Free Cash Flow | 31,282,000 | 15,163,000 | 5,060,000 |
| Net Income | 7,528,000 | 7,892,000 | 7,758,000 |
| Net Change in Cash | -892,000 | -767,000 | 850,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 43,011,458.880 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 43,565,488.617 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 43,280,928.497 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 12,319,459.770 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 12,478,146.484 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 12,396,641.995 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 12,557,281.660 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 12,767,948.110 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 12,662,614.885 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 12,220,744.686 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 12,378,159.852 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 12,297,308.454 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 10.170 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 10.260 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 10.090 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 2 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance: Scotiabank reported adjusted earnings of $2.2 billion or $1.XX per share in Q1 2025, reflecting resilience in a challenging economic environment. Strong revenue and net income figures from recent income statements further underline consistent operational performance.
- Strong Capital Discipline: As highlighted in the Q1 2025 earnings call, the bank maintains a focus on capital discipline, ensuring a robust balance sheet with healthy current and quick ratios (per Key Metrics TTM), positioning it well to weather economic uncertainties.
- High Dividend Yield: BNS offers an attractive dividend yield (per Key Metrics TTM), supported by consistent dividend payments as seen in cash flow statements, making it appealing to income-focused investors.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates BNS intrinsic value between $85.25 – $180.66 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about BNS valuation
Is The Bank of Nova Scotia (BNS) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for The Bank of Nova Scotia (BNS) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is BNS a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether BNS trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is BNS’s P/E ratio?
You can see BNS’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for BNS?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is BNS a good long-term investment?
Whether BNS fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
BNS
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Daily snapshot
-0.1
Trading Metrics:
| Open: | 69.06 | Previous Close: | 70.19 | |
| Day Low: | 69.03 | Day High: | 70.4 | |
| Year Low: | 44.09 | Year High: | 78.28 | |
| Price Avg 50: | 73.26 | Price Avg 200: | 66.14 | |
| Volume: | 1.472M | Average Volume: | 2.337M |
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Login — it's freeBNS full analysis
Welcome to MARKETSNAP’s SWOT analysis for Scotiabank, also known by its ticker BNS. If you’re a long-term investor looking to dig into one of Canada’s big banking players, you’re in the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for Scotiabank, with insights pulled straight from the latest data and earnings calls. Let’s dive into what makes this financial giant tick, where it’s stumbling, and what could shape its future for investors like you who are…
