Toronto Dominion Bank

Toronto Dominion Bank

TD

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Market Cap$201.54B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Toronto Dominion BankToronto Dominion Bank18.92.52%12%1.32.2

Earnings Call Q2 2026

May 28, 2026 - AI Summary

Strong overall results & shareholder return - EPS +21% YoY; ROE 14.4% (+200 bps YoY), reflecting positive operating leverage and momentum across businesses. - CET1 ratio 14.3% (down 26 bps QoQ). Capital strength remains a “competitive advantage.” - Dividend raised by $0.04 to $1.12/share. - Q2 share buyback: ~19 million shares. TD remains committed to the $7B buyback program; with prior repurchases, plans to return $15B in capital after completion.
Profit outlook & key full-year targets (forecasts / guidance) - Management reiterated ability to outperform FY2026 targets: 6%–8% EPS growth and 13% ROE (contingent on macro conditions). - Structural cost reduction: ahead of pace versus $2B–$2.5B structural costs (and they’ve already achieved the $900M goal for the year). - AI value: tracking well ahead of the $1B annualized value medium-term target; expecting $200M value from AI this year (already ~$145M delivered at halfway). - Expense guidance: for enterprise excluding specific items, guidance maintained: ~3%–4% expense growth ex FX & variable comp / strategic card portfolio effects. - US segment NIAT/earnings power: described as on track to meet and/or exceed Investor Day objectives.
Credit quality: stable PCLs, but with meaningful watch items (good + risks) - Total PCLs: 43 bps, flat QoQ and within guidance; impaired PCLs decreased $191M QoQ to $973M. - Allowance coverage: ~97 bps (management cites prudent reserving). - FY2026 PCL outlook remains 40–50 bps. - Consumer risk tone is mixed: management expects some migration/pressure (mainly <650 credit segment), but says credit is still in good shape given rates down ~275 bps from peak, stronger starting point vs pre-pandemic, wage growth, and government support. - Key downside risks acknowledged: trade/tariffs, Middle East conflict, and broader macro uncertainty led to a performing reserve build and incremental reserves this quarter.

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$185.94

Current Fair Value

55.5% upside

Undervalued by 55.5% based on the discounted cash flow analysis.

Share Statistics

Market cap$201.54 Billion
Enterprise Value$469.93 Billion
Dividend Yield$3.08 (2.52%)
Earnings per Share$11.57
Beta0.88
Outstanding Shares1,221,777,000

Return

Return on Equity12.00%ROE
Return on Assets0.72%
Return on Invested Capital1.00%

Valuation & Multiples

P/E Ratio18.86P/E Ratio
PEG-30.51PEG
Price to Sales1.3Price to Sales
Price to Book Ratio1.18Price to Book Ratio
Enterprise Value to Revenue4.17
Enterprise Value to EBIT25.34
Enterprise Value to Net Income31
Total Debt to Enterprise0.59
Debt to Equity2.22Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 28, 2026
EPS Estimate
$1.63
Average shareholder expectation
Revenue Estimate
$11.04 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 27, 2026
EPS Estimate
$1.71
Average shareholder expectation
Revenue Estimate
$10.46 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.3327▼ 14.93%
Total Calls8,121,901▼ 25.22%
Total Puts10,824,256▼ 32.76%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %64.91%▲ 16.61%
Total Invested$74.99B▼ 8.45%
Investors Holding877▲ 30.00%

ESG Score

No data

About Toronto Dominion Bank

89,031 employees
CEO: Bharat Masrani

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ('TD' or the 'Bank'). TD is the sixth largest bank in North Americaby branches and serves over 26 million customers in three key businesses operating ...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and technical expertise for all tax bills. Its analysis directly influences corporate tax structures, capital investment credits, and the overall tax burden on financial markets, which profoundly affects TD Bank's operations and financial health.

Finance

As the most powerful economic committee, it controls taxation and trade. Corporate tax policy directly impacts TD Bank's profitability and valuation, while trade policies influence global markets and client businesses, making it highly relevant.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC and plays a key role in defining cryptocurrencies as digital commodities. This is highly relevant to TD Securities (wholesale banking) and its involvement in derivatives markets, as well as the evolving digital asset landscape.

Banking, Housing, and Urban Affairs

This is the primary committee regulating the entire financial system, including the Fed and SEC. It directly impacts bank capital requirements, cryptocurrency regulation, and real estate markets, which are core to TD Bank's U.S. operations and profitability.

Foreign Relations

As a global bank with wholesale operations, TD is directly impacted by U.S. foreign policy, sanctions legislation (e.g., Russia, Iran), and international banking access, all of which fall under this committee's purview.