Toronto-Dominion Bank
Runs Canadian and U.S. banking alongside wealth, insurance, and wholesale finance.
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Profile
Provides personal and commercial banking in Canada and the United States alongside wealth management, insurance, and wholesale banking. Its branch-service heritage supports a four-business model, while U.S. banks operate under an asset cap and ongoing anti-money-laundering remediation.
Serves personal and commercial customers through Canadian Personal and Commercial Banking and U.S. Banking, while Wealth Management and Insurance and Wholesale Banking extend the group into advice, coverage, capital markets, and corporate finance across North America.
Builds its retail identity on branch convenience and service positioning inherited from Canada Trust and Commerce, while TD Securities and TD Cowen anchor wholesale activity. The remaining Schwab relationship is an insured-deposit arrangement, not an equity stake.
Operates its U.S. banks under an OCC asset cap and continues a multi-year anti-money-laundering remediation program. The cap excludes TD Securities and Canadian and other global businesses, making the constraint specific to the U.S. banking subsidiaries.
Company facts
Categories
Key statistics
Year to date +28.3% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| May 4, 2026 | Scotiabank | Upgrade | Sector Perform | Sector Outperform |
| Oct 3, 2025 | RBC Capital | Upgrade | Sector Perform | Outperform |
| Dec 18, 2024 | BMO Capital | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 27, 2026Q3 FY26 | $1.74 | $1.98 | +13.8% | $10.70B | $12.07B | +12.7% | +1.39% |
| May 28, 2026Q2 FY26 | $1.63 | $1.74 | +6.7% | $11.04B | $11.80B | +6.8% | +0.21% |
| Feb 26, 2026Q1 FY26 | $1.63 | $1.76 | +8.0% | $10.66B | $11.01B | +3.4% | −1.44% |
| Dec 4, 2025Q4 FY25 | $1.46 | $1.57 | +7.5% | $10.38B | $15.89B | +53.2% | +2.60% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $20.47B | $20.65B | $20.70B | $20.24B | $19.44B | $20.56B | |
| Gross profit | $9.83B | $10.44B | $10.73B | $10.91B | $10.72B | $11.51B | |
| Operating income | $8.71B | $3.05B | $2.95B | $3.73B | $3.61B | $4.21B | |
| Net income | $8.01B | $2.40B | $2.36B | $2.91B | $3.06B | $3.32B | |
| Diluted EPS | $4.51 | $1.36 | $1.29 | $1.69 | $1.75 | $1.97 | |
| Gross margin | 48.0% | 50.6% | 51.8% | 53.9% | 55.2% | 56.0% | |
| Operating margin | 42.6% | 14.8% | 14.3% | 18.4% | 18.6% | 20.5% |
Fiscal years (4-quarter sums)FY21 $34.32B · FY22 $42.60B · FY23 $73.52B · FY24 $85.73B · FY25 $83.33B
Balance sheet, Jul 31, 2026Cash & short-term investments $4.90B · Total debt $214.37B · Total assets $1.52T · Shareholders' equity $91.41B
Dividends
Last raised to $0.7924 from $0.7821 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 10, 2026 | Jul 10 | Jul 31 | $0.7924 | raised from $0.7821 |
| Apr 9, 2026 | Apr 9 | Apr 30 | $0.7821 | raised from $0.7775 |
| Jan 9, 2026 | Jan 9 | Jan 31 | $0.7775 | raised from $0.7501 |
| Oct 10, 2025 | Oct 10 | Oct 31 | $0.7501 | cut from $0.7673 |
| Jul 10, 2025 | Jul 10 | Jul 31 | $0.7673 | raised from $0.73 split-adjusted |
| Apr 10, 2025 | Apr 10 | Apr 30 | $0.7494 | raised from $0.724 split-adjusted |
| Jan 10, 2025 | Jan 10 | Jan 31 | $0.728 | cut from $0.7417 |
| Oct 10, 2024 | Oct 10 | Oct 31 | $0.7417 | cut from $0.7495 |
Ownership
Shares outstanding 1.69B · Float 1.62B · 96.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Royal Bank of Canada | 106.82M | 6.32% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 85.47M | 5.10% | 13G | Apr 27, 2026 |
| Vanguard Capital Management | 82.74M | 5.00% | 13G | Jul 31, 2026 |
| Bank of Montreal /Can/ | 62.73M | 3.71% | 13F | Aug 12, 2026 |
| CIBC World Market Inc. | 36.19M | 2.14% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Royal Bank of Canada
Canada-wide rival in banking, wealth, insurance and capital markets
- Bank of Montreal
Broad rival across Canadian and U.S. banking, wealth and capital markets
- Scotiabank
Canadian banking, wealth and wholesale-banking peer
- CIBC
Broad rival across Canadian banking, U.S. commercial banking, and markets
- JPMorgan Chase
U.S. banking, wealth and wholesale-finance rival at global scale
- Bank of America
U.S. banking, wealth, corporate finance and markets rival
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Toronto-Dominion Bank | $120.19 | −0.90% | $204.85B | 18.1 | 15.8 | 2.5 | −22.1% |
| Royal Bank of Canada | $204.20 | −0.03% | $283.83B | 17.9 | 16.3 | 2.8 | −22.1% |
| Bank of Montreal | $171.86 | −0.04% | $120.37B | 19.6 | 14.7 | 2.2 | −20.6% |
| Scotiabank | $92.09 | −0.31% | $112.63B | 16.8 | 13.8 | 2.2 | −42.3% |
| CIBC | $114.24 | −0.10% | $105.94B | 15.3 | 14.4 | 2.3 | −17.4% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Bank of America | $62.30 | −0.04% | $442.26B | 14.4 | 12.7 | 2.3 | +19.3% |
| Median | 16.1 | 14.6 | 2.3 | −19.0% |