Bank of Nova Scotia (BNS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 27	$2.1	$2.28	+8.6%	—	—	—
Q1 27	$1.94	$2.02	+4.1%	—	—	—
Q4 26	$1.95	$2.05	+5.1%	—	—	—
Q3 26	$1.84	$1.93	+4.9%	—	—	—
Q2 26	$1.72	$1.84	+7.0%	—	—	—
Q1 26	$1.57	$1.52	-3.2%	—	—	—
Q4 25	$1.67	$1.76	+5.4%	—	—	—
Q3 25	$1.61	$1.22	-24.2%	—	—	—
Q2 25	$1.62	$1.63	+0.6%	—	—	—
Q1 25	$1.55	$1.58	+1.9%	—	—	—
Q4 24	$1.61	$1.69	+5.0%	—	—	—
Q3 24	$1.65	$1.26	-23.6%	—	—	—
Q2 24	$1.73	$1.73	0.0%	—	—	—
Q1 24	$1.83	$1.7	-7.1%	—	—	—
Q4 23	$2.02	$1.85	-8.4%	—	—	—
Q3 23	$1.99	$2.06	+3.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.84	—	—	$37.1B	—
FY24	—	$5.94	—	—	$24.1B	—
FY23	—	$5.84	—	—	$31.8B	—
FY22	—	$8.05	—	—	$31.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$25.9B	$26.7B	$28.2B	$30.4B	$31.1B	$30.9B	$31.5B	$31.8B	$24.1B	$37.1B
YoY change	+9.69%	+3.13%	+5.49%	+7.68%	+2.34%	-0.58%	+1.93%	+0.88%	-24.3%	+54.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	25.9B	26.7B	28.2B	30.4B	31.1B	30.9B	31.5B	31.8B	24.1B	37.1B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	7.6B	8B	8B	9.1B	9.1B	8.9B	9.3B	10.2B	7.5B	11.5B
Operating expenses	7.6B	8B	8B	9.1B	9.1B	8.9B	9.3B	10.2B	7.5B	11.5B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	9.4B	10.3B	11.1B	11.3B	8.4B	12.8B	12.9B	9.8B	7.1B	10.5B
Income tax	2B	2B	2.4B	2.5B	1.5B	2.9B	2.8B	2.2B	1.5B	2.8B
Net income	7.4B	8.2B	8.7B	8.8B	6.9B	10B	10.2B	7.5B	5.7B	7.8B
Net margin	28.4%	30.8%	30.9%	29%	22%	32.2%	32.3%	23.7%	23.5%	20.9%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	5.8	6.55	6.9	6.72	5.43	7.74	8.05	5.84	5.94	5.84
Diluted EPS	5.77	6.49	6.82	6.68	5.3	7.7	8.02	5.78	5.87	5.67

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	7.9B	—	—	—	6.1B	—	—	—	9.6B	9.9B	9.6B	10.3B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.6B	—	—	—	1.9B	—	—	—	3B	3.1B	3B	3.3B
Operating expenses	2.6B	—	—	—	1.9B	—	—	—	3B	3.1B	3B	3.3B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	1.5B	—	—	—	1.6B	—	—	—	2.9B	3.2B	3.4B	3.9B
Income tax	138M	—	—	—	365.9M	—	—	—	656M	872M	799M	947M
Net income	1.4B	—	—	—	1.2B	—	—	—	2.2B	2.3B	2.6B	3B
Net margin	17.5%	—	—	—	19.9%	—	—	—	23%	23.3%	27.4%	28.6%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	—	1.7	1.59	1.43	—	0.82	1.48	1.84	—	1.75	2.01	2.27
Diluted EPS	—	1.68	1.57	1.41	—	0.66	1.48	1.84	—	1.73	2	2.27

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	94B	112.8B	94.7B	101.8B	73.2B	115.6B	84.2B	70.4B	—	—	113B
Enterprise value	240.1B	224.3B	231B	274.1B	175.4B	241.2B	275.7B	243.4B	—	—	-58.9B
Shares outstanding	1.7B	1.7B	1.8B	1.8B	1.8B	1.8B	1.7B	1.7B	877.8M	1.2B	1.2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	12.8	13.7	10.9	11.6	10.7	11.6	8.27	9.35	—	—	17.3
P/S	3.63	4.22	3.35	3.35	2.35	3.74	2.67	2.21	—	—	3.24
P/B	1.63	1.83	1.4	1.45	1.04	1.59	1.13	0.89	—	—	1.77
EV/Sales	9.26	8.39	8.19	9.02	5.64	7.8	8.75	7.66	—	—	-2.37
Earnings yield	7.83%	7.31%	9.22%	8.64%	9.36%	8.61%	12.1%	10.7%	—	—	5.78%
FCF yield	4.45%	14.7%	18.4%	-12%	76.4%	-11.5%	19.4%	44.4%	—	—	6.42%
PEG	—	—	—	—	—	—	—	—	—	—	0.74

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	41.2%
Net margin	28.4%	30.8%	30.9%	29%	22%	32.2%	32.3%	23.7%	23.5%	20.9%	28.4%
ROE	12.7%	13.4%	12.9%	12.5%	9.72%	13.7%	13.6%	9.57%	9.39%	8.76%	11.5%
ROA	—	—	—	—	—	—	—	—	0.56%	0.53%	0.68%
Return on tangible assets	—	—	—	—	—	—	—	—	0.57%	0.54%	0.66%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Debt / equity	3.84	3.52	3.5	3.62	3.1	3.37	4.16	3.99	3.58	3.55	0.03
Debt / assets	—	—	—	—	—	—	—	—	0.21	0.22	0.23
Effective tax rate	21.6%	19.8%	21.4%	21.9%	18.4%	22.4%	21.3%	22.8%	20.5%	26.2%	24.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.8	15.3	16	17.1	17.7	17.5	18.1	18.3	27.4	29.8	28.6
EPS (basic)	5.8	6.55	6.9	6.72	5.43	7.74	8.05	5.84	5.94	5.84	5.84
EPS (diluted)	5.77	6.49	6.82	6.68	5.3	7.7	8.02	5.78	5.87	5.67	5.4
Book value per share	33.1	35.3	38.4	39.5	40	41.3	42.9	45.2	68.6	71.2	52.9
FCF per share	2.39	9.49	9.87	-6.88	31.7	-7.52	9.4	18	12.4	4.07	5.16
Cash per share	43.5	60.4	56.9	45.9	66.2	68.1	68.5	81	88.2	86.9	445.6
Capex per share	0.2	0	0.24	0.1	0.44	0.26	0.33	0.25	0.4	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.34%	0.01%	1.47%	0.61%	2.48%	1.49%	1.81%	1.39%	1.45%	—	—
Capex / operating cash flow	-7.45%	0.01%	1.13%	0.94%	2.07%	0.95%	0.45%	6.03%	-2.91%	—	—
Payout ratio	48.8%	46.1%	47.8%	50.5%	66.5%	46.2%	50.3%	72%	71.8%	75.7%	58%
Dividend yield	3.83%	3.37%	4.41%	4.36%	6.23%	3.98%	6.08%	7.7%	—	—	3.46%

Yield

3.46%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.803

ex-dividend Jul 7, 2026

Payout ratio

58%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 7, 2026	$0.803
Apr 7, 2026	$0.792
Jul 2, 2025	$0.806

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$7.9B	—	—	—	$6.1B	—	—	—	$9.6B	$9.9B	$9.6B	$10.3B
YoY change	+4.57%	—	—	—	-23.3%	—	—	—	+57.7%	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	76B	105.6B	100.3B	81.5B	116.5B	120.1B	119.3B	140.8B	77.4B	108.1B
Receivables	3.9B	3.9B	4.7B	5.1B	4.8B	4.4B	5.4B	7.1B	5.3B	7.7B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	2.5B	2.4B	2.7B	2.7B	5.9B	5.6B	5.7B	5.6B	3.8B	4.9B
Goodwill & intangibles	24.3B	24.2B	35.4B	34.9B	34B	33.2B	33.7B	34.4B	24.1B	32.3B
Total assets	—	—	—	—	—	—	—	—	1T	1.5T
Accounts payable	8B	8.8B	9.4B	9.2B	8.3B	8.9B	12.6B	17B	12B	17.9B
Short-term debt	97.1B	93.6B	93.4B	113.5B	60.1B	84B	130.1B	119.9B	74B	112.3B
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	124.9B	123.5B	143.3B	140.2B	158.6B	161.7B	180.7B	193.9B	141.3B	202.5B
Total liabilities	—	—	—	—	—	—	—	—	950.8B	1.4T
Shareholders' equity	57.8B	61.6B	67.7B	70.2B	70.5B	72.9B	74.7B	78.7B	60.2B	88.6B
Total debt	222.1B	217.1B	236.6B	253.8B	218.7B	245.7B	310.9B	313.8B	215.3B	314.9B
Net debt	175.7B	157.5B	174.4B	207B	142.3B	159.3B	245B	223.5B	169.6B	248.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	140.8B	171.4B	169.3B	127.9B	77.4B	192.6B	189.4B	191.8B	108.1B	191.8B	205.1B	190.9B
Receivables	7.1B	—	—	—	5.3B	—	—	—	7.7B	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	5.6B	—	—	—	3.8B	—	—	—	4.9B	—	—	—
Goodwill & intangibles	34.4B	17B	17.1B	12.3B	24.1B	16.2B	16.1B	16.1B	32.3B	16.1B	16B	16B
Total assets	—	—	1.4T	1T	1T	1.4T	1.4T	1.4T	1.5T	1.5T	1.5T	1.5T
Accounts payable	17B	—	—	—	12B	—	—	—	17.9B	—	—	—
Short-term debt	119.9B	118.9B	115.1B	79.9B	74B	114.2B	109.6B	109.4B	112.3B	124B	130.3B	132.6B
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	193.9B	186.9B	188.2B	137.3B	141.3B	194.9B	192.5B	192.4B	202.5B	195.9B	209.8B	216.7B
Total liabilities	—	—	1.3T	954.1B	950.8B	1.4T	1.3T	1.3T	1.4T	1.4T	1.4T	1.5T
Shareholders' equity	78.7B	80.5B	81.1B	60.2B	60.2B	86.4B	86.5B	85.5B	88.6B	89B	88.6B	90.6B
Total debt	313.8B	305.8B	303.3B	217.2B	215.3B	309.1B	302.1B	301.8B	314.9B	319.8B	340.1B	349.3B
Net debt	223.5B	238.6B	244.7B	175B	169.6B	238.9B	238.6B	232.1B	248.9B	246B	260.8B	286.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	7.4B	8.2B	8.7B	8.8B	6.9B	10B	10.2B	7.5B	5.7B	7.8B
Depreciation & amortization	684M	761M	848M	1.1B	1.5B	1.5B	1.5B	1.8B	1.3B	1.6B
Stock-based compensation	7M	8M	6M	7M	5M	7M	10M	14M	9.3M	15M
Change in working capital	-848M	41B	40.9B	24.6B	44.7B	51.5B	130.8B	14B	-6.6B	2.7B
Operating cash flow	-4.7B	37B	36.7B	19.7B	37.3B	48.9B	127.2B	7.3B	-12B	5.4B
Capital expenditure	-348M	3M	-416M	-186M	-771M	-462M	-571M	-442M	-350.1M	—
Investing cash flow	-31.2B	1.5B	-13B	-2.8B	-26.1B	29.7B	-37.1B	-6.5B	-23.6B	2.3B
Dividends paid	-3.6B	-3.8B	-4.2B	-4.4B	-4.6B	-4.6B	-5.1B	-5.4B	-4.1B	-5.9B
Share repurchases	-770M	-1.6B	-1.3B	-1.4B	-679M	-1.3B	-3.4B	0	-214.8M	-2.6B
Financing cash flow	-1.6B	-2.9B	-2.9B	-1.3B	143M	-2.8B	-4.6B	-2.8B	-6.3B	-6.3B
Net change in cash	-37.5B	35.6B	20.8B	15.6B	11.4B	75.8B	85.5B	-1.9B	-42B	1.4B
Free cash flow	4.2B	16.6B	17.4B	-12.2B	55.9B	-13.3B	16.4B	31.3B	10.9B	5.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	—	—	—	—	—	—	—	—	2.2B	2.3B	2.6B	3B
Depreciation & amortization	—	—	—	—	—	—	—	—	403M	385M	410M	398M
Stock-based compensation	—	—	—	—	—	—	—	—	2M	8M	2M	-1M
Change in working capital	—	—	—	—	—	—	—	—	5B	9.9B	23B	19.2B
Operating cash flow	—	—	—	—	—	—	—	—	-6.2B	12.9B	17.1B	-16.8B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	1.8B	1.1B	-8.4B	-578M
Dividends paid	—	—	—	—	—	—	—	—	-1.5B	-1.5B	-1.5B	-1.5B
Share repurchases	—	—	—	—	—	—	—	—	-655M	-485M	-642M	-1B
Financing cash flow	482M	1.5B	337.8M	344.4M	505M	1.5B	2M	10M	-117M	-3.9B	-2.6B	-1.2B
Net change in cash	482M	1.5B	337.8M	344.4M	505M	1.5B	2M	10M	-4.5B	10.2B	6.1B	-18.6B
Free cash flow	—	—	—	—	—	—	—	—	-6.3B	12.6B	17B	-16.9B

Bank of Nova Scotia Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history