The Toronto-Dominion Bank

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TD : NYSE : Financial
$49.23 up 0.01 | 0.02%
Today's Range: 49.1 - 49.68
Avg. Daily Volume: 1747800.0
06/26/17 - 4:04 PM ET

Financial Analysis


TORONTO DOMINION BANK's gross profit margin for the second quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the industry average, its revenue growth has not.

During the same period, stockholders' equity ("net worth") has increased by 12.65% from the same quarter last year.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)10021.09319.0
EBITDA ($mil)3519.03304.0
EBIT ($mil)3199.02975.0
Net Income ($mil)2475.02024.0


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)59498.051070.0
Total Assets ($mil)1251920.01124786.0
Total Debt ($mil)132703.0128914.0
Equity ($mil)74587.066211.0


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin79.5181.65
EBITDA Margin35.1135.45
Operating Margin31.9231.92
Sales Turnover0.030.03
Return on Assets0.760.73
Return on Equity12.6112.31
Debt Q2 FY17 Q2 FY16
Current Ratio0.00.0
Debt/Capital0.640.66
Interest Expense533.0464.0
Interest Coverage6.06.41


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)1843.41853.5
Div / share0.450.42
EPS1.311.07
Book value / share40.4635.72
Institutional Own % n/a n/a
Avg Daily Volume1753343.01687319.0

Valuation


BUY. TORONTO DOMINION BANK's P/E ratio indicates a significant discount compared to an average of 41.96 for the Commercial Banks industry and a significant discount compared to the S&P 500 average of 25.75. Conducting a second comparison, its price-to-book ratio of 1.22 indicates a significant discount versus the S&P 500 average of 3.09 and a discount versus the industry average of 1.25. The price-to-sales ratio is above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, TORONTO DOMINION BANK proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
TD 9.73 Peers 41.96   TD 2.01 Peers 13.73

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

TD is trading at a significant discount to its peers.

 

Discount. 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 significant discount 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 13.60   TD NA Peers 1.59

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 1.22 Peers 1.25   TD 15.48 Peers 3.84

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.

 

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

TD is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
TD 2.26 Peers 2.84   TD 9.60 Peers 4.97

Discount. 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 discount to 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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