Financials The Toronto-Dominion Bank

Equities

TD

CA8911605092

Banks

Market Closed - Toronto S.E. Other stock markets 21:00:00 05/12/2025 GMT			5-day change	1st Jan Change
122.20 ^CAD	+1.76%		+3.87%	+59.68%

12-04	TSX Closer: Sets Fresh Record Close On Improved Commodity Prices and Optimism Around Economy	MT
12-04	Toronto Stocks Advance; BRP Shares Rise on Fiscal-Year Outlook Upgrade	DJ

Projected Income Statement: The Toronto-Dominion Bank

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	40,138	49,032	51,839	50,142	55,721	57,764	60,003	-
Change	-	22.16%	5.72%	-3.27%	11.13%	3.67%	3.87%	-
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	17,229	24,673	24,409	20,994	23,166	23,799	25,080	23,189
Change	-	43.21%	-1.07%	-13.99%	10.35%	2.73%	5.38%	-7.54%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	17,134	20,424	13,086	10,830	23,643	19,332	20,747	19,189
Change	-	19.2%	-35.93%	-17.24%	118.31%	-18.23%	7.32%	-7.51%
Net income ¹	14,049	17,170	10,219	8,316	19,973	14,600	15,852	13,863
Change	-	22.22%	-40.48%	-18.62%	140.18%	-26.9%	8.58%	-12.55%
Announcement Date	02/12/21	01/12/22	30/11/23	05/12/24	04/12/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: October	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	10,074	9,824	9,913	10,327	10,563	10,481	10,815	15,563	13,102	12,539	13,013	13,185	12,405	12,635	12,569	12,533	13,523	13,721	14,051	14,426	14,417	14,098	14,447	14,792	15,150	14,649	14,873	15,433
Change	-	-2.48%	0.91%	4.18%	2.29%	-0.78%	3.19%	43.9%	-15.81%	-4.3%	3.78%	1.32%	-5.92%	1.85%	-0.52%	-0.29%	7.9%	1.46%	2.41%	2.67%	-0.06%	-2.21%	2.47%	2.39%	2.42%	-3.31%	1.53%	3.77%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,330	4,133	4,337	4,429	4,666	4,482	4,782	9,133	6,561	5,846	6,060	5,942	5,280	5,551	5,361	4,802	5,540	5,813	5,927	5,886	6,078	5,853	6,027	6,105	6,617	6,181	6,474	6,725
Change	-	-4.55%	4.94%	2.12%	5.35%	-3.94%	6.69%	90.99%	-28.16%	-10.9%	3.66%	-1.95%	-11.14%	5.13%	-3.42%	-10.43%	15.37%	4.93%	1.96%	-0.69%	3.27%	-3.71%	2.97%	1.29%	8.39%	-6.59%	4.74%	3.88%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	3,935	4,435	4,297	4,467	4,486	4,611	3,649	7,678	2,244	3,976	3,508	3,358	3,317	-	423	3,991	3,260	12,040	4,241	4,102	5,273	5,051	5,169	4,836	5,378	5,163	5,352	5,172
Change	-	12.71%	-3.11%	3.96%	0.43%	2.79%	-20.86%	110.41%	-70.77%	77.18%	-11.77%	-4.28%	-1.22%	-	-	843.5%	-18.32%	269.33%	-64.78%	-3.28%	28.55%	-4.21%	2.34%	-6.44%	11.21%	-4%	3.66%	-3.36%
Net income ¹	3,212	3,630	3,489	3,718	3,690	3,745	3,171	6,564	1,499	3,141	2,889	2,690	2,750	2,374	-250	3,442	2,707	10,929	3,248	3,089	3,729	3,620	3,851	3,744	4,098	3,828	4,048	3,946
Change	-	13.01%	-3.88%	6.56%	-0.75%	1.49%	-15.33%	107%	-77.16%	109.54%	-8.02%	-6.89%	2.23%	-13.67%	-110.53%	1,476.8%	-21.35%	303.73%	-70.28%	-4.9%	20.71%	-2.91%	6.39%	-2.78%	9.44%	-6.58%	5.75%	-2.53%
Announcement Date	25/02/21	27/05/21	26/08/21	02/12/21	03/03/22	26/05/22	25/08/22	01/12/22	02/03/23	25/05/23	24/08/23	30/11/23	29/02/24	23/05/24	22/08/24	05/12/24	27/02/25	22/05/25	28/08/25	04/12/25	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: The Toronto-Dominion Bank

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	02/12/21	01/12/22	30/11/23	05/12/24	04/12/25	-	-	-

Estimates

Cash Flow Forecast: The Toronto-Dominion Bank

Fiscal Period: October	2020	2021	2022	2023	2024	2025
CAPEX ¹	1,757	1,129	1,454	1,844	2,177	2,145
Change	-	-35.74%	28.79%	26.82%	18.06%	-1.47%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	03/12/20	02/12/21	01/12/22	30/11/23	05/12/24	04/12/25

¹CAD in Million

Estimates

Forecast Financial Ratios: The Toronto-Dominion Bank

Fiscal Period: October	2020	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	42.92%	50.32%	47.09%	41.87%	41.57%	41.2%	41.8%	-
EBT Margin (%)	-	42.69%	41.65%	25.24%	21.6%	42.43%	33.47%	34.58%	-
Net margin (%)	-	35%	35.02%	19.71%	16.58%	35.84%	25.27%	26.42%	-
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	0.82%	0.83%	0.75%	0.68%	0.7%	0.83%	0.81%	0.7%
ROE	-	15.9%	15.9%	14.4%	13.6%	12.9%	12.78%	13.58%	11.8%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	3.16	3.56	3.84	4.08	4.2	4.367	4.64	4.46
Change	-	-	12.66%	7.87%	6.25%	2.94%	3.97%	6.26%	-3.88%
Book Value Per Share ¹	-	51.66	55	56.58	59.59	68.78	71.25	74.9	70.16
Change	-	-	6.47%	2.87%	5.32%	15.42%	3.59%	5.13%	-6.33%
EPS ¹	-	7.72	9.47	5.6	4.72	11.56	8.851	9.959	-
Change	-	-	22.67%	-40.87%	-15.71%	144.92%	-23.44%	12.52%	-
Nbr of stocks (in thousands)	-	1,820,149	1,813,220	1,802,041	1,748,117	1,714,267	1,689,496	1,689,496	1,689,496
Announcement Date	-	02/12/21	01/12/22	30/11/23	05/12/24	04/12/25	-	-	-