Last 48 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.03 | 11.08 | 9.95 | 11.41 | 9.64 | 2.54 | 9.20 | 7.05 | — | 10.99 | 9.80 | 9.37 | 10.77 | 8.97 | 21.10 | 4.42 | 9.28 | 8.72 | 9.90 | 8.89 | 8.65 |
| — | +335.7% | +8.0% | +61.8% | — | -76.9% | -6.0% | -24.8% | — | +22.5% | -53.6% | +112.0% | +16.1% | +2.8% | +113.1% | -50.3% | +7.3% | +1.0% | +23.9% | +125.0% | -5.4% | |
| P/S Ratio | 2.53 | 1.22 | 1.03 | 1.23 | 1.09 | 0.98 | 0.84 | 0.79 | 0.85 | 0.89 | 0.93 | 0.90 | 1.14 | 1.14 | 1.35 | 1.53 | 1.93 | 2.59 | 2.95 | 2.75 | 2.54 |
| — | +25.1% | +23.0% | +54.8% | +28.4% | +9.2% | -10.4% | -12.3% | -25.3% | -21.6% | -31.1% | -40.9% | -40.9% | -56.0% | -54.1% | -44.5% | -24.2% | -4.6% | +41.0% | +70.5% | +60.7% | |
| P/B Ratio | 2.34 | 1.06 | 0.92 | 1.10 | 1.00 | 0.88 | 0.84 | 0.84 | 0.92 | 0.93 | 0.96 | 0.90 | 1.07 | 0.96 | 1.13 | 1.04 | 1.14 | 1.31 | 1.43 | 1.32 | 1.21 |
| — | +20.5% | +9.4% | +31.2% | +8.0% | -5.7% | -12.6% | -6.5% | -14.0% | -2.2% | -14.9% | -13.6% | -6.1% | -27.3% | -21.2% | -21.3% | -5.6% | -0.7% | +32.9% | +57.6% | +40.3% | |
| P/FCF | — | 3.23 | 0.82 | — | — | 2.46 | — | 0.31 | — | 5.39 | — | 1.81 | — | — | 6.78 | 13.63 | 1.57 | — | 1.28 | 1.70 | 10.98 |
| — | +31.6% | — | — | — | -54.4% | — | -83.0% | — | — | — | -86.7% | — | — | +427.6% | +701.1% | -85.7% | — | +126.8% | +85.4% | +3214.7% | |
| EV / EBITDA | 32.17 | 17.92 | 17.17 | 36.79 | 33.12 | 11.72 | 38.31 | 30.84 | 167.87 | 42.86 | 39.35 | 36.54 | 37.71 | 32.55 | 50.42 | 14.50 | 26.93 | 21.61 | 20.74 | 18.57 | 18.60 |
| — | +52.9% | -55.2% | +19.3% | -80.3% | -72.7% | -2.6% | -15.6% | +345.1% | +31.7% | -22.0% | +151.9% | +40.1% | +50.7% | +143.1% | -21.9% | +44.8% | +31.1% | +15.8% | +8.7% | -43.0% | |
| EV / EBIT | 35.08 | 19.92 | 18.29 | 41.92 | 37.25 | 12.24 | 44.15 | 34.87 | 363.12 | 49.67 | 45.27 | 42.03 | 43.21 | 36.53 | 60.14 | 15.38 | 30.10 | 23.66 | 22.75 | 20.55 | 20.63 |
| — | +62.8% | -58.6% | +20.2% | -89.7% | -75.4% | -2.5% | -17.0% | +740.4% | +36.0% | -24.7% | +173.3% | +43.6% | +54.4% | +164.4% | -25.2% | +45.9% | +27.9% | +10.7% | +5.6% | -47.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.0% | 55.2% | 53.9% | 51.8% | 50.6% | 48.0% | 45.8% | 44.6% | 43.0% | 43.3% | 43.6% | 43.6% | 45.8% | 48.7% | 52.8% | 59.5% | 73.2% | 86.7% | 89.6% | 91.2% | 89.4% |
| — | +14.9% | +17.8% | +16.2% | +17.6% | +10.8% | +4.9% | +2.3% | -6.2% | -11.1% | -17.3% | -26.8% | -37.3% | -43.8% | -41.1% | -34.7% | -18.1% | -5.0% | +5.9% | +12.1% | +34.5% | |
| Operating Margin | 20.7% | 18.6% | 18.4% | 14.3% | 14.8% | 42.6% | 11.7% | 13.6% | 1.4% | 10.6% | 11.5% | 12.0% | 12.8% | 16.1% | 9.6% | 40.4% | 23.9% | 36.6% | 36.2% | 37.2% | 36.1% |
| — | -56.3% | +57.7% | +4.6% | +959.9% | +302.3% | +1.9% | +13.4% | -89.1% | -34.4% | +19.4% | -70.3% | -46.6% | -56.0% | -73.5% | +8.6% | -33.7% | -5.0% | +13.1% | +0.8% | +92.6% | |
| Net Margin | 17.7% | 15.7% | 14.4% | 11.4% | 11.6% | 39.1% | 9.3% | 11.9% | -0.6% | 8.8% | 9.7% | 10.3% | 10.8% | 13.6% | 6.8% | 35.1% | 21.1% | 30.3% | 30.1% | 31.5% | 29.8% |
| — | -59.8% | +54.1% | -4.1% | +2048.3% | +346.7% | -4.2% | +15.1% | -105.5% | -35.6% | +43.7% | -70.6% | -48.7% | -55.1% | -77.5% | +11.5% | -29.2% | -5.7% | +13.1% | -23.9% | +67.2% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.9% | 3.4% | 3.2% | 2.6% | 2.7% | 9.1% | 2.4% | 3.2% | -0.2% | 2.3% | 2.5% | 2.6% | 2.5% | 2.9% | 1.4% | 6.2% | 3.2% | 3.8% | 3.7% | 3.8% | 3.6% |
| — | -62.6% | +33.9% | -19.2% | +1738.7% | +297.4% | -5.2% | +24.8% | -106.4% | -21.2% | +77.6% | -58.8% | -20.9% | -23.4% | -61.7% | +64.7% | -12.7% | -2.7% | +7.8% | -30.8% | +50.7% | |
| ROA | 1.0% | 0.2% | 0.2% | 0.2% | 0.2% | 0.5% | 0.1% | 0.2% | -0.0% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.4% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| — | -62.1% | +43.6% | -12.0% | +1869.6% | +304.9% | -8.0% | +20.1% | -106.1% | -22.9% | +77.7% | -57.7% | -13.8% | -18.9% | -61.4% | +61.1% | -16.6% | -2.6% | +12.1% | -26.9% | +57.6% | |
| ROIC | 2.3% | 0.9% | 0.7% | 0.4% | 0.4% | 1.2% | 0.3% | 0.4% | 0.0% | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 1.0% | 0.5% | 0.6% | 0.6% | 0.7% | 0.6% |
| — | -20.1% | +94.5% | -4.5% | +856.5% | +258.0% | -7.5% | +11.7% | -88.3% | -23.4% | +39.7% | -61.9% | -24.4% | -32.8% | -59.9% | +47.4% | -22.9% | -0.3% | +19.0% | +6.0% | +100.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.19 | 2.22 | 2.14 | 5.19 | 5.02 | 4.98 | 5.54 | 5.75 | 5.48 | 5.40 | 5.11 | 5.07 | 4.94 | 4.93 | 5.02 | 4.51 | 4.47 | 4.42 | 4.26 | 4.02 | 4.07 |
| — | -55.5% | -61.3% | -9.8% | -8.4% | -7.9% | +8.6% | +13.4% | +11.0% | +9.6% | +1.6% | +12.6% | +10.3% | +11.6% | +17.9% | +12.2% | +9.8% | +5.1% | -8.4% | -14.3% | -18.3% | |
| Debt / EBITDA | 25.41 | 49.32 | 48.87 | 141.97 | 131.92 | 49.63 | 163.96 | 140.58 | 667.89 | 168.48 | 150.42 | 147.21 | 142.63 | 130.03 | 210.74 | 61.67 | 112.51 | 87.01 | 88.27 | 81.11 | 85.38 |
| — | -0.6% | -70.2% | +1.0% | -80.2% | -70.5% | +9.0% | -4.5% | +368.3% | +29.6% | -28.6% | +138.7% | +26.8% | +49.4% | +138.7% | -24.0% | +31.8% | +9.0% | -10.3% | -5.3% | -46.9% | |
| Current Ratio | 0.12 | 0.05 | 0.05 | 0.12 | 0.18 | 0.20 | 0.19 | 0.17 | 0.15 | 0.15 | 0.14 | 0.11 | 0.14 | 0.15 | 0.18 | 0.13 | 0.17 | 0.17 | 0.20 | 0.17 | 0.21 |
| — | -72.8% | -71.5% | -26.6% | +21.1% | +36.2% | +32.8% | +51.2% | +7.7% | -4.3% | -20.1% | -14.6% | -19.6% | -10.3% | -11.0% | -23.5% | -19.2% | -31.1% | -26.1% | -5.0% | -9.3% | |
| Quick Ratio | 0.12 | 0.05 | 0.05 | 0.12 | 0.18 | 0.20 | 0.19 | 0.17 | 0.15 | 0.15 | 0.14 | 0.11 | 0.14 | 0.15 | 0.18 | 0.13 | 0.17 | 0.17 | 0.20 | 0.17 | 0.21 |
| — | -72.8% | -71.5% | -26.6% | +21.1% | +36.2% | +32.8% | +51.2% | +7.7% | -4.3% | -20.1% | -14.6% | -19.6% | -10.3% | -11.0% | -23.5% | -19.2% | -31.1% | -26.1% | -5.0% | -9.3% | |
| Interest Coverage | 0.44 | 0.45 | 0.43 | 0.32 | 0.32 | 0.90 | 0.23 | 0.26 | 0.03 | 0.20 | 0.22 | 0.23 | 0.25 | 0.33 | 0.22 | 1.09 | 0.98 | 2.79 | 3.68 | 3.80 | 3.30 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying TD stock.
The Toronto-Dominion Bank's current P/E is 15.0x. The average P/E over the last 4 quarters is 10.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
The Toronto-Dominion Bank's current operating margin is 20.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking The Toronto-Dominion Bank's business trajectory between earnings reports.