The Bank of Nova ScotiaBNS
NYSE•Financial Services•Banks - Diversified
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.
Bank Nova Scotia Halifax Pfd 3 (BNS) reported trailing twelve months revenue of $70.98B as of April 2026, a 5.6% decline year-over-year. Quarterly revenue reached $17.19B, reflecting a contraction in sales.
Bank Nova Scotia Halifax Pfd 3 generated $9.55B in TTM net income, with quarterly EBITDA of $3.84B. The operating margin expanded from 14.3% to 20.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (20.0%) and net margin (15.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 11.0% a year ago, signaling stronger bottom-line efficiency.
BNS trades at a P/E of 7.2x (below the broader market average) and a P/S of 1.0x. The price-to-book ratio of 0.8x suggests the stock trades below its book value.
The company generated $16.95B in free cash flow over the trailing twelve months, a 618.6% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $1.52T in total assets with $161.19B in long-term debt against $87.13B in stockholders equity for a debt-to-equity ratio of 1.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~14.8%, suggesting durable pricing power and cost discipline.
ROE is positive at ~9.1% on average, adequate but below the threshold typically associated with wide moats.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has grown modestly overall (~31.1%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~18.1% — no sign of cost or pricing stress.
FCF covers net income by 1.8x on average — earnings are well-supported by cash generation.
D/E ratio is 1.8 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 26.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation