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Toronto-Dominion Bank
TD : NYSE : Financial

$81.63 1.15 | 1.43%
Today's Range: 80.49 - 81.72
Avg. Daily Volume: 517,100
05/20/13 - 4:01 PM ET

Financial Analysis


TORONTO DOMINION BANK's gross profit margin for the first quarter of its fiscal year 2013 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

During the same period, stockholders' equity ("net worth") has increased by 9.61% from the same quarter last year.



Income Statement Q1 FY13 Q1 FY12
Net Sales ($mil)7657.07438.0
EBITDA ($mil)3033.02877.0
EBIT ($mil)2787.02633.0
Net Income ($mil)1764.01452.0


Balance Sheet Q1 FY13 Q1 FY12
Cash & Equiv. ($mil)33473.015876.0
Total Assets ($mil)818482.0773666.0
Total Debt ($mil)90633.080327.0
Equity ($mil)48295.044059.0


Profitability Q1 FY13 Q1 FY12
Gross Profit Margin80.3678.8
EBITDA Margin39.6138.67
Operating Margin36.435.4
Sales Turnover0.040.04
Return on Assets0.810.74
Return on Equity13.4212.75
Debt Q1 FY13 Q1 FY12
Current Ratio0.00.0
Debt/Capital0.650.65
Interest Expense567.0624.0
Interest Coverage4.924.22


Share Data Q1 FY13 Q1 FY12
Shares outstanding (mil)920.5903.7
Div / share0.780.67
EPS1.861.55
Book value / share52.4748.75
Institutional Own % n/a n/a
Avg Daily Volume519453.0475987.0

Valuation


HOLD. This stock's P/E ratio indicates a discount compared to an average of 12.31 for the Commercial Banks industry and a discount compared to the S&P 500 average of 19.08. Conducting a second comparison, its price-to-book ratio of 1.54 indicates a discount versus the S&P 500 average of 2.44 and a premium versus the industry average of 1.44. The current price-to-sales ratio is well above the S&P 500 average and above the industry average, indicating a premium.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
TD 11.42 Peers 12.31   TD 9.44 Peers 9.08

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

TD is trading at a valuation on par with its peers.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

TD is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
TD NA Peers 12.67   TD NA Peers 1.23

Neutral. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth potential.

Ratio not available.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
TD 1.54 Peers 1.44   TD 12.73 Peers 33.68

Average. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

TD is trading at a valuation on par with its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, TD is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
TD 2.44 Peers 2.27   TD 10.18 Peers 2.94

Average. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

TD is trading at a valuation on par with its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

TD has a sales growth rate that significantly exceeds its peers.

 

 

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