Toronto Dominion operates a dual-mandate North American bank, with retail and commercial lending in Canada through TD Bank and a wholesale and investment banking platform in the US via TD Securities and Ameritrade. The Canadian retail franchise benefits from structural tailwinds: population growth of 2.4% annually (well above peer averages) and a mortgage market where five-year fixed rates reset regularly, allowing the bank to reprice assets as rates move. Net interest margin compression has been the near-term headwind, but forward PE of 14.7 against a 12.8% ROE suggests the market is pricing in stabilization as rate cuts plateau. The US wealth management business, anchored by Ameritrade's 12 million retail clients, sits on a large deposit base that has been repriced downward; as deposit costs normalize, this segment could drive material margin recovery. At current valuations, the stock trades at a modest discount to historical averages despite a cleaner liability structure than many peers and exposure to a demographic tailwind most large Canadian banks cannot replicate.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 18 Oct 2026, 16:04 CEST | Rating | Overvalued | first publication | $120 |
| 18 Oct 2026, 16:04 CEST | Fair value | $89.66 | $93.24 | $120 |
| 18 Oct 2026, 01:52 CEST | ACCE price target | $124 | $128 | $120 |
| 14 Oct 2026, 00:00 CEST | Fair value | $93.24 | $91.86 | $116 |
| 10 Oct 2026, 00:00 CEST | Fair value | $91.86 | $85.43 | $114 |
| 25 Sept 2026, 00:00 CEST | Fair value | $85.43 | $87.34 | $168 |
| 17 Sept 2026, 00:00 CEST | ACCE price target | $128 | first publication | $121 |
| 16 Sept 2026, 00:00 CEST | Fair value | $87.34 | $88.87 | $168 |
| 2 Sept 2026, 00:00 CEST | Fair value | $88.87 | $79.02 | $168 |
| 30 Aug 2026, 00:00 CEST | Fair value | $79.02 | $86.90 | $168 |
Answered from Toronto Dominion Bank (The) Common Stock fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| TD Toronto Dominion Bank (The) Common Stock | $124.61 | $90 | 39% above | 18.5x | 12.8% | 72 | 69 |
| C Citigroup Inc. Common Stock | $122.51 | $116 | 6% above | 12.1x | 9.3% | 67 | 60 |
| TD.TO Toronto-Dominion Bank | C$175.14 | C$125 | 41% above | 18.7x | 12.8% | 72 | 72 |
| CBA.AX Commonwealth Bank of Australia | A$157.17 | A$94 | 68% above | 24.1x | 13.9% | 72 | 48 |
| SAN Banco Santander S.A. Sponsored ADR (Spain) | $12.90 | $14 | 7% below | 12.5x | 13.1% | 72 | 64 |
| SAN.MC Banco Santander | €11.48 | €11 | 6% above | 13.1x | 13.1% | 72 | 71 |
| 8306.T Mitsubishi UFJ Financial Group | ¥3373.00 | ¥2145 | 57% above | 13.9x | 9.5% | 61 | 77 |
Where TD ranks against its sector peers on each metric.