Toronto Dominion Bank (TD) - Net Assets
Based on the latest financial reports, Toronto Dominion Bank (TD) has net assets worth CA$125.60 Billion CAD (≈ $90.85 Billion USD) as of January 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$2.10 Trillion ≈ $1.52 Trillion USD) and total liabilities (CA$1.97 Trillion ≈ $1.43 Trillion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$125.60 Billion |
| % of Total Assets | 5.98% |
| Annual Growth Rate | 10.7% |
| 5-Year Change | 28.06% |
| 10-Year Change | 76.16% |
| Growth Volatility | 10.68 |
Toronto Dominion Bank - Net Assets Trend (1995–2025)
This chart illustrates how Toronto Dominion Bank's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Toronto Dominion Bank (1995–2025)
The table below shows the annual net assets of Toronto Dominion Bank from 1995 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-10-31 | CA$127.83 Billion ≈ $92.47 Billion |
+11.00% |
| 2024-10-31 | CA$115.16 Billion ≈ $83.30 Billion |
+2.76% |
| 2023-10-31 | CA$112.07 Billion ≈ $81.07 Billion |
+0.62% |
| 2022-10-31 | CA$111.38 Billion ≈ $80.57 Billion |
+11.59% |
| 2021-10-31 | CA$99.82 Billion ≈ $72.21 Billion |
+4.52% |
| 2020-10-31 | CA$95.50 Billion ≈ $69.08 Billion |
+8.89% |
| 2019-10-31 | CA$87.70 Billion ≈ $63.44 Billion |
+9.57% |
| 2018-10-31 | CA$80.04 Billion ≈ $57.90 Billion |
+6.45% |
| 2017-10-31 | CA$75.19 Billion ≈ $54.39 Billion |
+3.62% |
| 2016-10-31 | CA$72.56 Billion ≈ $52.49 Billion |
+8.26% |
| 2015-10-31 | CA$67.03 Billion ≈ $48.49 Billion |
+19.20% |
| 2014-10-31 | CA$56.23 Billion ≈ $40.68 Billion |
+9.44% |
| 2013-10-31 | CA$51.38 Billion ≈ $37.17 Billion |
+4.86% |
| 2012-10-31 | CA$49.00 Billion ≈ $35.45 Billion |
+11.35% |
| 2011-10-31 | CA$44.00 Billion ≈ $31.83 Billion |
+10.36% |
| 2010-10-31 | CA$39.87 Billion ≈ $28.84 Billion |
+2.98% |
| 2009-10-31 | CA$38.72 Billion ≈ $28.01 Billion |
+22.25% |
| 2008-10-31 | CA$31.67 Billion ≈ $22.91 Billion |
+47.98% |
| 2007-10-31 | CA$21.40 Billion ≈ $15.48 Billion |
+9.03% |
| 2006-10-31 | CA$19.63 Billion ≈ $14.20 Billion |
+23.74% |
| 2005-10-31 | CA$15.87 Billion ≈ $11.48 Billion |
+4.20% |
| 2004-10-31 | CA$15.23 Billion ≈ $11.01 Billion |
+6.03% |
| 2003-10-31 | CA$14.36 Billion ≈ $10.39 Billion |
+0.49% |
| 2002-10-31 | CA$14.29 Billion ≈ $10.34 Billion |
-2.62% |
| 2001-10-31 | CA$14.68 Billion ≈ $10.62 Billion |
+4.78% |
| 2000-10-31 | CA$14.01 Billion ≈ $10.13 Billion |
+18.01% |
| 1999-10-31 | CA$11.87 Billion ≈ $8.59 Billion |
+39.09% |
| 1998-10-31 | CA$8.53 Billion ≈ $6.17 Billion |
+16.84% |
| 1997-10-31 | CA$7.30 Billion ≈ $5.28 Billion |
+9.34% |
| 1996-10-31 | CA$6.68 Billion ≈ $4.83 Billion |
+10.34% |
| 1995-10-31 | CA$6.05 Billion ≈ $4.38 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Toronto Dominion Bank's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1589.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (October 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$78.32 Billion | 61.27% |
| Common Stock | CA$24.73 Billion | 19.34% |
| Other Comprehensive Income | CA$12.87 Billion | 10.07% |
| Other Components | CA$11.91 Billion | 9.31% |
| Total Equity | CA$127.83 Billion | 100.00% |
Toronto Dominion Bank Competitors by Market Cap
The table below lists competitors of Toronto Dominion Bank ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Verizon Communications Inc.
F:BAC
|
$174.74 Billion |
|
Walt Disney Company
NYSE:DIS
|
$176.33 Billion |
|
Mitsubishi UFJ Financial Group Inc
F:MFZA
|
$176.47 Billion |
|
Thermo Fisher Scientific Inc
NYSE:TMO
|
$176.47 Billion |
|
The Boeing Company
NYSE:BA
|
$172.93 Billion |
|
The TJX Companies Inc
NYSE:TJX
|
$171.90 Billion |
|
Intuitive Surgical Inc
NASDAQ:ISRG
|
$171.25 Billion |
|
Delta Electronics Inc
TW:2308
|
$169.81 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Toronto Dominion Bank's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 115,160,000,000 to 127,827,000,000, a change of 12,667,000,000 (11.0%).
- Net income of 20,538,000,000 contributed positively to equity growth.
- Dividend payments of 7,663,000,000 reduced retained earnings.
- Share repurchases of 20,835,000,000 reduced equity.
- New share issuances of 16,622,000,000 increased equity.
- Other comprehensive income increased equity by 4,970,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$20.54 Billion | +16.07% |
| Dividends Paid | CA$7.66 Billion | -5.99% |
| Share Repurchases | CA$20.84 Billion | -16.3% |
| Share Issuances | CA$16.62 Billion | +13.0% |
| Other Comprehensive Income | CA$4.97 Billion | +3.89% |
| Other Changes | CA$-965.00 Million | -0.75% |
| Total Change | CA$- | 11.00% |
Book Value vs Market Value Analysis
This analysis compares Toronto Dominion Bank's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.94x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 28.92x to 1.94x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-10-31 | CA$4.96 | CA$143.57 | x |
| 1996-10-31 | CA$5.64 | CA$143.57 | x |
| 1997-10-31 | CA$6.13 | CA$143.57 | x |
| 1998-10-31 | CA$7.24 | CA$143.57 | x |
| 1999-10-31 | CA$9.62 | CA$143.57 | x |
| 2000-10-31 | CA$9.93 | CA$143.57 | x |
| 2001-10-31 | CA$10.69 | CA$143.57 | x |
| 2002-10-31 | CA$10.08 | CA$143.57 | x |
| 2003-10-31 | CA$10.03 | CA$143.57 | x |
| 2004-10-31 | CA$10.60 | CA$143.57 | x |
| 2005-10-31 | CA$11.38 | CA$143.57 | x |
| 2006-10-31 | CA$13.58 | CA$143.57 | x |
| 2007-10-31 | CA$14.75 | CA$143.57 | x |
| 2008-10-31 | CA$20.42 | CA$143.57 | x |
| 2009-10-31 | CA$22.77 | CA$143.57 | x |
| 2010-10-31 | CA$22.00 | CA$143.57 | x |
| 2011-10-31 | CA$23.54 | CA$143.57 | x |
| 2012-10-31 | CA$25.97 | CA$143.57 | x |
| 2013-10-31 | CA$27.03 | CA$143.57 | x |
| 2014-10-31 | CA$29.63 | CA$143.57 | x |
| 2015-10-31 | CA$35.28 | CA$143.57 | x |
| 2016-10-31 | CA$39.08 | CA$143.57 | x |
| 2017-10-31 | CA$40.01 | CA$143.57 | x |
| 2018-10-31 | CA$42.97 | CA$143.57 | x |
| 2019-10-31 | CA$47.99 | CA$143.57 | x |
| 2020-10-31 | CA$52.80 | CA$143.57 | x |
| 2021-10-31 | CA$54.84 | CA$143.57 | x |
| 2022-10-31 | CA$61.42 | CA$143.57 | x |
| 2023-10-31 | CA$61.43 | CA$143.57 | x |
| 2024-10-31 | CA$65.86 | CA$143.57 | x |
| 2025-10-31 | CA$73.97 | CA$143.57 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Toronto Dominion Bank utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.07%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 17.73%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 16.39x
- Recent ROE (16.07%) is above the historical average (13.15%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 13.12% | 9.10% | 0.08x | 18.01x | CA$188.70 Million |
| 1996 | 13.68% | 10.08% | 0.07x | 18.81x | CA$246.07 Million |
| 1997 | 14.90% | 10.39% | 0.06x | 22.44x | CA$357.71 Million |
| 1998 | 13.14% | 8.50% | 0.07x | 21.31x | CA$267.70 Million |
| 1999 | 25.85% | 19.01% | 0.07x | 18.59x | CA$1.83 Billion |
| 2000 | 8.30% | 5.11% | 0.08x | 21.44x | CA$-210.02 Million |
| 2001 | 10.31% | 6.61% | 0.07x | 21.47x | CA$41.90 Million |
| 2002 | -0.51% | -0.41% | 0.06x | 21.32x | CA$-1.37 Billion |
| 2003 | 8.21% | 6.89% | 0.06x | 20.86x | CA$-235.00 Million |
| 2004 | 15.97% | 14.14% | 0.05x | 22.25x | CA$834.29 Million |
| 2005 | 14.05% | 12.07% | 0.05x | 23.02x | CA$642.40 Million |
| 2006 | 23.45% | 20.72% | 0.06x | 20.01x | CA$2.64 Billion |
| 2007 | 18.67% | 16.11% | 0.06x | 19.72x | CA$1.86 Billion |
| 2008 | 12.10% | 15.05% | 0.05x | 17.78x | CA$665.60 Million |
| 2009 | 8.06% | 12.26% | 0.05x | 14.39x | CA$-752.00 Million |
| 2010 | 12.10% | 18.49% | 0.04x | 17.39x | CA$806.10 Million |
| 2011 | 13.97% | 19.31% | 0.04x | 17.30x | CA$1.69 Billion |
| 2012 | 13.37% | 19.58% | 0.04x | 17.07x | CA$1.60 Billion |
| 2013 | 13.10% | 19.80% | 0.04x | 17.28x | CA$1.55 Billion |
| 2014 | 14.22% | 21.61% | 0.04x | 17.57x | CA$2.31 Billion |
| 2015 | 12.09% | 21.26% | 0.03x | 16.88x | CA$1.37 Billion |
| 2016 | 12.16% | 21.71% | 0.03x | 16.20x | CA$1.56 Billion |
| 2017 | 14.01% | 23.19% | 0.04x | 17.24x | CA$2.98 Billion |
| 2018 | 14.25% | 21.36% | 0.04x | 16.89x | CA$3.36 Billion |
| 2019 | 13.30% | 19.83% | 0.04x | 16.14x | CA$2.90 Billion |
| 2020 | 12.46% | 21.78% | 0.03x | 17.97x | CA$2.35 Billion |
| 2021 | 14.32% | 29.96% | 0.03x | 17.32x | CA$4.32 Billion |
| 2022 | 15.65% | 29.32% | 0.03x | 17.22x | CA$6.29 Billion |
| 2023 | 9.49% | 10.40% | 0.05x | 17.45x | CA$-573.10 Million |
| 2024 | 7.68% | 7.42% | 0.06x | 17.90x | CA$-2.67 Billion |
| 2025 | 16.07% | 17.73% | 0.06x | 16.39x | CA$7.76 Billion |
Industry Comparison
This section compares Toronto Dominion Bank's net assets metrics with peer companies in the Banks - Diversified industry.
Industry Context
- Industry: Banks - Diversified
- Average net assets among peers: $35,723,082,775
- Average return on equity (ROE) among peers: 10.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Toronto Dominion Bank (TD) | CA$125.60 Billion | 13.12% | 15.71x | $173.57 Billion |
| Bank of Montreal (BMO) | $39.91 Billion | 10.95% | 15.08x | $106.09 Billion |
| Bank of Nova Scotia (BNS) | $84.08 Billion | 9.23% | 15.79x | $92.23 Billion |
| Canadian Imperial Bank Of Commerce (CM) | $11.06 Billion | 9.31% | 21.64x | $100.44 Billion |
| National Bank of Canada (NA) | $2.36 Billion | 9.20% | 17.96x | $57.04 Billion |
| Royal Bank of Canada (RY) | $41.21 Billion | 12.68% | 16.62x | $242.92 Billion |
About Toronto Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking; U.S. Retail; Wealth Management and Insurance; and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; fina… Read more