Toronto Dominion Bank (TD) Operating Margin (2009 - 2026)
Toronto Dominion Bank's (TD) quarterly Operating Margin came in at 6.25% in Q3 2026, down 20.0% on a YoY basis from 7.82% in Q3 2025, and up 7.27% quarter-over-quarter from 5.83% in Q2 2026.
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Toronto Dominion Bank (TD) Operating Margin (2009 - 2026) Analysis & Trends
Toronto Dominion Bank (TD) has reported Operating Margin for 15 consecutive years, with 6.25% the latest figure, recorded in Q3 2026.
- For the quarter ending Q3 2026, Operating Margin fell 20.0% year-over-year to 6.25%; the trailing twelve-month figure through Jul 2026 stood at 7.4% (up 323.0% YoY), and the FY2025 full-year result was 6.79%, up 45.0% from the prior year.
- Operating Margin improved to 6.25% in Q3 2026 per TD's latest filing, from 5.83% in the prior quarter.
- Across five years, Operating Margin topped out at 9.29% in Q1 2025 and bottomed at 1.41% in Q4 2022.
- Historically, Operating Margin has averaged 5.57% across 5 years, with a median of 5.77% in 2023.
- The sharpest annual moves came in 2023 and 2024: Operating Margin soared 712 bps in 2023, then sank 389 bps in 2024.
- Over 5 years, Operating Margin stood at 1.41% in 2022, then surged by 506 bps to 5.72% in 2023, then plunged by 68 bps to 1.83% in 2024, then soared by 366 bps to 8.51% in 2025, then fell by 26 bps to 6.25% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 6.25%, 5.83%, and 9.04% for Q3 2026, Q2 2026, and Q1 2026 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank Of America | 2,119.43 Bn | 1,530.93 Bn | 30.39 Bn | 37.28% |
| 2 | Morgan Stanley | 330.57 Bn | 170.43 Bn | - | - |
| 3 | Goldman Sachs | 305.73 Bn | -670.62 Bn | - | - |
| 4 | Mitsubishi Ufj Financial | 296.69 Bn | -87.63 Bn | 10.89 Bn | - |
| 5 | Royal Bank Of Canada | 290.20 Bn | 63.31 Bn | - | - |
| 6 | Wells Fargo & Company | 272.00 Bn | 68.03 Bn | - | - |
| 7 | American Express | 217.39 Bn | 168.07 Bn | 17.99 Bn | 17.85% |
| 8 | Banco Santander | 214.76 Bn | 222.37 Bn | 28.01 Bn | 29.14% |
| 9 | Toronto Dominion Bank | 207.43 Bn | 46.10 Bn | - | 6.25% |
| 10 | Schwab Charles | 186.08 Bn | 112.49 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 6.25% |
| Apr 30, 2026 | 5.83% |
| Jan 31, 2026 | 9.04% |
| Oct 31, 2025 | 8.51% |
| Jul 31, 2025 | 6.45% |
| Apr 30, 2025 | 4.32% |
| Jan 31, 2025 | 9.29% |
| Oct 31, 2024 | 1.83% |
| Jul 31, 2024 | 7.93% |
| Apr 30, 2024 | 5.38% |
| Jan 31, 2024 | 6.74% |
| Oct 31, 2023 | 5.72% |
| Jul 31, 2023 | 5.42% |
| Apr 30, 2023 | 2.33% |
| Jan 31, 2023 | 5.56% |
| Oct 31, 2022 | -1.41% |
| Oct 31, 2021 | -0.11% |
| Jul 31, 2021 | -0.15% |
| Oct 31, 2017 | 1.52% |
| Oct 31, 2016 | 0.95% |