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Earnings transcript
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TD
The Toronto-Dominion Bank
$114.5
-0.14
(-0.12%)
| Exchange: | NYSE |
| Market Cap: | 193.448B |
| Shares Outstanding: | 1.2B |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Diversified | |||||
| CEO: | Raymond Chun | |||||
| Full Time Employees: | 100424 | |||||
| Address: |
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| Website: | https://www.td.com |
The Toronto-Dominion Bank, along with its affiliated entities, delivers a comprehensive array of financial solutions and services across Canada, the United States, and various international markets. Its operations are structured into three primary divisions: Canadian Retail, U.S. Retail, and Wholesale Banking. For individual customers, the bank provides fundamental deposit products like checking, savings, and investment accounts. Businesses can access a suite of offerings including funding, investment management, cash flow solutions, international trade facilities, and everyday banking. Furthermore, TD offers point-of-sale financing options for major purchases such as automobiles and recreational vehicles. The institution also issues credit cards and facilitates payment processing. Its lending portfolio extends to real estate-backed loans, vehicle financing, and general consumer credit. Businesses, both large and small, benefit from its point-of-sale payment systems. Wealth and asset management products, coupled with financial guidance, are available to both individual and institutional clients through direct investment channels, advisory services, and dedicated asset management units. The bank also underwrites a variety of insurance products, encompassing property and casualty coverage, as well as life and health policies. In the realm of capital markets and corporate banking, TD assists corporations, government bodies, and institutional investors. This includes overseeing the issuance and distribution of new debt and equity securities, offering strategic advice on mergers and divestitures, and providing sophisticated trading, funding, and investment services. The company markets its diverse offerings under the TD Bank brand, and specifically as “America’s Most Convenient Bank” in the United States. It maintains an extensive physical presence, with over 1,000 branches and more than 3,300 automated teller machines (ATMs) throughout Canada, complemented by approximately 1,100 “stores” and 2,700 ATMs in the U.S. Beyond its brick-and-mortar locations, the bank ensures accessibility through telephone, digital, and mobile banking platforms. A key strategic partnership also exists with Canada Post Corporation. Founded in 1855, The Toronto-Dominion Bank’s global headquarters are situated in Toronto, 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 | 102,254,000 | 119,173,000 | 115,840,000 |
| Gross Profit | 48,591,000 | 52,003,000 | 56,776,000 |
| EBITDA | 15,663,000 | 13,560,000 | 26,114,000 |
| Operating Income | 13,752,000 | 11,533,000 | 23,948,000 |
| Net Income | 10,634,000 | 8,842,000 | 20,538,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,955,139,000 | 2,061,751,000 | 2,094,558,000 |
| Total Liabilities | 1,843,068,000 | 1,946,591,000 | 1,966,731,000 |
| Total Stockholders Equity | 112,071,000 | 115,160,000 | 127,827,000 |
| Total Debt | 568,663,000 | 662,563,000 | 663,579,000 |
| Cash and Cash Equivalents | 105,069,000 | 178,023,000 | 116,929,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -65,302,000 | 54,937,000 | -69,646,000 |
| Capital Expenditure | -1,844,000 | -2,177,000 | -2,145,000 |
| Free Cash Flow | -67,146,000 | 52,760,000 | -71,791,000 |
| Net Income | 10,634,000 | 8,842,000 | 20,538,000 |
| Net Change in Cash | -1,835,000 | -284,000 | 1,075,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 161,118,497.754 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 163,123,393.476 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 162,386,841.349 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 41,399,632.321 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 41,914,793.193 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 41,725,535.053 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 18,279,934.273 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 18,576,341.389 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 18,467,449.074 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 41,522,217.514 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 42,038,903.788 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 41,849,085.250 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 10.740 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 10.810 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 10.630 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | 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 freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: TD Bank Group reported strong Q1 2025 earnings of $3.6 billion with a solid EPS, reflecting consistent profitability as highlighted in the latest earnings call transcript. This performance underscores the bank's ability to generate substantial revenue and net income amidst varying economic conditions.
- Strong Capital Position: The earnings call emphasized TD's maintenance of a robust capital position, which supports financial stability and provides a buffer against potential economic downturns. This is further evidenced by healthy balance sheet metrics such as total assets and stockholders' equity.
- Operational Resilience: The earnings call summary indicates TD's resilience in navigating economic uncertainties, supported by positive operating cash flow and free cash flow trends from cash flow statements, demonstrating effective management of operational challenges.
- Dividend Consistency: With a competitive dividend yield (TTM) as per key metrics, TD maintains an attractive proposition for income-focused investors, supported by consistent dividend payments noted in cash flow statements under net dividends paid.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates TD intrinsic value between $211.77 – $441.09 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.
[intrinsic_calculator]
Common questions about TD valuation
Is The Toronto-Dominion Bank (TD) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for The Toronto-Dominion Bank (TD) 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 TD a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TD 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 TD’s P/E ratio?
You can see TD’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 TD?
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 TD a good long-term investment?
Whether TD 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.
TD
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Daily snapshot
-0.12
Trading Metrics:
| Open: | 114.73 | Previous Close: | 114.64 | |
| Day Low: | 114.17 | Day High: | 115.61 | |
| Year Low: | 70.06 | Year High: | 115.61 | |
| Price Avg 50: | 105.71 | Price Avg 200: | 91.79 | |
| Volume: | 1.687M | Average Volume: | 2.352M |
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Login — it's freeTD full analysis
Welcome to MARKETSNAP’s SWOT analysis for TD Bank Group! If you’re a long-term investor looking to dig into one of the heavyweights in the financial sector, you’re in the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for TD Bank Group, a name most of you already know as a titan in banking. Let’s dive into what’s been happening with this giant lately, analyze its position, and see if it’s still got the juice to be…
