Toronto Dominion Bank (TD) Operating Expenses (2009 - 2026)
Toronto Dominion Bank's (TD) quarterly Operating Expenses came in at $6.1 billion in Q3 2026, down 2.0% on a YoY basis from $6.2 billion in Q3 2025, and little changed quarter-over-quarter from $6.1 billion in Q2 2026.
Analysis
Toronto Dominion Bank (TD) Operating Expenses (2009 - 2026) Analysis & Trends
Toronto Dominion Bank (TD) has reported Operating Expenses for 16 consecutive years, with $6.1 billion the latest figure, recorded in Q3 2026.
- For the quarter ending Q3 2026, Operating Expenses fell 2.0% year-over-year to $6.1 billion; the trailing twelve-month figure through Jul 2026 stood at $24.8 billion (up 5.71% YoY), and the FY2025 full-year result was $24.2 billion, down 7.31% from the prior year.
- Operating Expenses steadied at $6.1 billion in Q3 2026 per TD's latest filing, from $6.1 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $8.0 billion in Q3 2024 and bottomed at $4.9 billion in Q4 2022.
- Historically, Operating Expenses has averaged $6.0 billion across 5 years, with a median of $6.0 billion in 2023.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses soared 45.87% in 2024, then dropped 22.88% in 2025.
- Over 5 years, Operating Expenses stood at $4.9 billion in 2022, then gained by 17.98% to $5.8 billion in 2023, then grew by 1.4% to $5.9 billion in 2024, then advanced by 7.71% to $6.3 billion in 2025, then decreased by 4.27% to $6.1 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $6.1 billion, $6.1 billion, and $6.3 billion for Q3 2026, Q2 2026, and Q1 2026 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank Of America | 2,145.36 Bn | 1,556.87 Bn | 30.39 Bn | 18.63 Bn |
| 2 | Morgan Stanley | 335.03 Bn | 174.89 Bn | - | 13.90 Bn |
| 3 | Goldman Sachs | 309.45 Bn | -666.90 Bn | - | 11.67 Bn |
| 4 | Mitsubishi Ufj Financial | 296.69 Bn | -87.63 Bn | 10.89 Bn | 17.50 Bn |
| 5 | Royal Bank Of Canada | 291.49 Bn | 64.61 Bn | - | 7.02 Bn |
| 6 | Wells Fargo & Company | 272.88 Bn | 68.91 Bn | - | 13.66 Bn |
| 7 | American Express | 218.59 Bn | 169.28 Bn | 17.99 Bn | 14.48 Bn |
| 8 | Banco Santander | 214.76 Bn | 222.37 Bn | 28.01 Bn | -7.44 Bn |
| 9 | Toronto Dominion Bank | 205.88 Bn | 44.55 Bn | - | 6.08 Bn |
| 10 | Schwab Charles | 185.06 Bn | 111.46 Bn | - | 3.40 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 6.08 Bn |
| Apr 30, 2026 | 6.11 Bn |
| Jan 31, 2026 | 6.31 Bn |
| Oct 31, 2025 | 6.35 Bn |
| Jul 31, 2025 | 6.20 Bn |
| Apr 30, 2025 | 5.72 Bn |
| Jan 31, 2025 | 5.68 Bn |
| Oct 31, 2024 | 5.89 Bn |
| Jul 31, 2024 | 8.04 Bn |
| Apr 30, 2024 | 6.20 Bn |
| Jan 31, 2024 | 5.94 Bn |
| Oct 31, 2023 | 5.81 Bn |
| Jul 31, 2023 | 5.51 Bn |
| Apr 30, 2023 | 4.99 Bn |
| Jan 31, 2023 | 6.01 Bn |
| Oct 31, 2022 | 4.93 Bn |
| Oct 31, 2021 | 4.73 Bn |
| Jul 31, 2021 | 4.57 Bn |
| Mar 31, 2021 | 2.76 Bn |
| Jun 30, 2018 | 751.13 Mn |