The Toronto-Dominion Bank (TD) Balance Sheet
TD balance sheet, FY2025
October 31, 2025 · Canadian dollarsC$2.09T assets = C$1.97T liabilities + C$127.83B equity
Both columns are drawn to the same scale: what TD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TD financial health
Debt / equity5.19
High leverage · C$5.19 of debt for each $1 of equity
Cash / debt23.5%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles1.1%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
TD balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | C$1.18TFY2016 | C$2.09TFY2025 | +6.6%/yr | |
| Total liabilities | C$1.10TFY2016 | C$1.97TFY2025 | +6.6%/yr | |
| Shareholders’ equity | C$74.21BFY2016 | C$127.83BFY2025 | +6.2%/yr | |
| Cash & short-term investments | C$92.75BFY2016 | C$156.06BFY2025 | +6.0%/yr | |
| Total debt | C$78.54BFY2016 | C$663.58BFY2025 | +26.8%/yr | |
| Net cash (debt) | C$14.21BFY2016 | −C$507.51BFY2025 | −C$521.7B | |
| Working capital | C$97.08BFY2016 | −C$1.44TFY2025 | −C$1.5T | |
| Debt / equity | 1.06FY2016 | 5.19FY2025 | +4.13 | |
| Shares outstanding | 1.86BFY2016 | 1.72BFY2025 | −0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TD assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
TD liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
TD debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TD balance sheet in Canadian dollars
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | C$156.06B | C$230.49B | C$116.51B | C$156.98B | C$194.67B | C$273.88B | C$141.55B | C$53.97B | C$76.22B | C$92.75B |
| Cash & equivalents | C$116.93B | C$178.02B | C$105.07B | C$145.85B | C$165.89B | C$170.59B | C$30.45B | C$35.45B | C$55.16B | C$57.62B |
| Short-term investments | C$39.13B | C$52.47B | C$11.44B | C$11.13B | C$28.78B | C$103.28B | C$111.10B | C$130.60B | C$146.41B | C$107.57B |
| Receivables | C$46.23B | C$44.62B | C$54.63B | C$40.33B | C$45.56B | C$33.95B | C$20.57B | C$26.94B | C$29.97B | C$17.44B |
| Inventory | C$0 | C$0 | −C$598.47B | −C$592.09B | −C$585.03B | −C$589.58B | −C$382.81B | −C$327.03B | −C$333.92B | −C$268.99B |
| Other current assets | C$1.81B | C$1.79B | C$599.94B | C$593.41B | C$586.33B | C$589.58B | C$382.81B | C$339.93B | C$344.63B | C$279.11B |
| Total current assets | C$204.11B | C$276.90B | C$172.60B | C$198.63B | C$241.53B | C$307.83B | C$162.12B | C$93.80B | C$116.90B | C$120.30B |
| Property, plant & equipment (net) | C$10.13B | C$9.84B | C$9.43B | C$9.40B | C$9.18B | C$10.14B | C$5.51B | C$5.32B | C$5.31B | C$5.48B |
| Goodwill & intangible assets | C$22.39B | C$21.89B | C$21.37B | C$19.96B | C$18.36B | C$19.27B | C$19.48B | C$19.00B | C$18.77B | C$19.30B |
| Long-term investments | C$576.19B | C$536.02B | C$531.28B | C$562.88B | C$504.32B | C$504.74B | C$407.46B | C$381.75B | C$333.51B | C$302.60B |
| Other non-current assets | C$1.28T | C$1.22T | C$1.22T | C$1.13T | C$955.29B | C$873.88B | C$820.71B | C$835.04B | C$804.50B | C$729.29B |
| Total assets | C$2.09T | C$2.06T | C$1.96T | C$1.92T | C$1.73T | C$1.72T | C$1.42T | C$1.33T | C$1.28T | C$1.18T |
| Liabilities | ||||||||||
| Accounts payable | C$41.04B | C$39.86B | C$43.61B | C$32.10B | C$37.21B | C$35.14B | C$23.75B | C$28.39B | C$32.85B | C$17.86B |
| Short-term debt | C$432.89B | C$453.22B | C$384.75B | C$344.00B | C$273.19B | C$121.54B | C$140.25B | C$132.30B | C$116.07B | C$67.64B |
| Deferred revenue | — | — | — | — | — | — | — | C$173.17B | C$159.88B | −C$67.64B |
| Total current liabilities | C$1.64T | C$1.63T | C$1.54T | C$1.51T | C$1.41T | C$156.68B | C$164.00B | C$166.93B | C$154.41B | C$23.22B |
| Long-term debt | C$52.62B | C$53.48B | C$55.41B | C$59.20B | C$57.07B | C$22.45B | C$10.72B | C$8.74B | C$9.53B | C$10.89B |
| Lease obligations | C$5.35B | C$5.01B | C$5.05B | C$5.31B | C$5.47B | C$6.09B | C$0 | C$0 | C$0 | C$0 |
| Other long-term liabilities | C$272.67B | C$259.62B | C$248.35B | C$234.42B | C$164.15B | C$18.80B | C$27.34B | C$158.19B | C$144.88B | C$12.33B |
| Total liabilities | C$1.97T | C$1.95T | C$1.84T | C$1.81T | C$1.63T | C$1.62T | C$1.33T | C$1.25T | C$1.20T | C$1.10T |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | C$24.73B | C$25.37B | C$25.43B | C$24.36B | C$23.07B | C$22.49B | C$21.71B | C$21.22B | C$20.93B | C$20.71B |
| Retained earnings (deficit) | C$78.32B | C$70.83B | C$73.01B | C$73.70B | C$63.94B | C$53.84B | C$49.50B | C$46.15B | C$40.49B | C$35.45B |
| Treasury stock | — | — | — | — | −C$152.0M | −C$37.0M | −C$41.0M | −C$144.0M | −C$176.0M | −C$31.0M |
| Accumulated other comprehensive income | C$12.87B | C$7.90B | C$2.75B | C$1.99B | C$7.10B | C$13.44B | C$10.58B | C$6.64B | C$8.01B | C$11.83B |
| Minority interest | — | — | — | — | — | — | C$0 | C$0 | C$0 | C$0 |
| Total shareholders' equity | C$127.83B | C$115.16B | C$112.07B | C$111.38B | C$99.82B | C$95.50B | C$87.70B | C$80.04B | C$75.19B | C$74.21B |
| Key figures | ||||||||||
| Total debt | C$663.58B | C$662.56B | C$568.66B | C$502.06B | C$400.86B | C$143.99B | C$150.98B | C$141.04B | C$125.60B | C$78.54B |
| Net cash (debt) | −C$507.51B | −C$432.07B | −C$452.15B | −C$345.08B | −C$206.19B | C$129.89B | −C$9.43B | −C$87.07B | −C$49.38B | C$14.21B |
| Working capital | −C$1.44T | −C$1.36T | −C$1.37T | −C$1.31T | −C$1.17T | C$151.15B | −C$1.87B | −C$73.12B | −C$37.51B | C$97.08B |
| Tangible book value | C$105.44B | C$93.27B | C$90.70B | C$91.42B | C$81.46B | C$76.23B | C$68.22B | C$61.05B | C$56.42B | C$54.91B |
| Shares outstanding | 1.72B | 1.76B | 1.82B | 1.81B | 1.82B | 1.81B | 1.83B | 1.84B | 1.85B | 1.86B |
| Current ratio | 0.12 | 0.17 | 0.11 | 0.13 | 0.17 | 1.96 | 0.99 | 0.56 | 0.76 | 5.18 |
| Quick ratio | 0.12 | 0.17 | 0.11 | 0.13 | 0.17 | 1.96 | 0.99 | 0.48 | 0.69 | 4.75 |
| Debt / equity | 5.19 | 5.75 | 5.07 | 4.51 | 4.02 | 1.51 | 1.72 | 1.76 | 1.67 | 1.06 |
| Equity / assets | 6.1% | 5.6% | 5.7% | 5.8% | 5.8% | 5.6% | 6.2% | 6.0% | 5.9% | 6.3% |
| Jul '26 | Apr '26 | Jan '26 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | C$6.82B | C$7.10B | C$453.20B | C$245.26B | C$262.50B | C$251.47B | C$230.49B | C$175.57B | C$169.01B | C$155.45B | C$116.51B |
| Cash & equivalents | C$6.82B | C$7.10B | C$119.96B | C$122.53B | C$145.74B | C$142.99B | C$178.02B | C$99.89B | C$93.97B | C$81.38B | C$105.07B |
| Short-term investments | C$320.47B | C$329.36B | C$333.24B | C$122.73B | C$116.76B | C$108.47B | C$52.47B | C$75.68B | C$75.04B | C$74.07B | C$11.44B |
| Receivables | C$5.59B | C$5.32B | C$15.34B | C$43.32B | C$55.46B | C$51.13B | C$44.62B | C$54.70B | C$56.71B | C$55.82B | C$54.63B |
| Inventory | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | −C$47.46B | −C$50.41B | −C$211.27B | −C$598.47B |
| Other current assets | C$0 | C$0 | C$1.83B | C$1.05B | C$1.68B | C$2.35B | C$1.79B | C$49.25B | C$52.01B | C$212.96B | C$599.94B |
| Total current assets | C$12.41B | C$12.43B | C$470.38B | C$289.64B | C$319.64B | C$304.94B | C$276.90B | C$232.06B | C$227.33B | C$212.96B | C$172.60B |
| Property, plant & equipment (net) | C$10.21B | C$9.98B | C$9.93B | C$9.85B | C$9.71B | C$10.15B | C$9.84B | C$9.57B | C$9.52B | C$9.52B | C$9.43B |
| Goodwill & intangible assets | C$22.83B | C$22.08B | C$21.94B | C$22.07B | C$21.87B | C$22.74B | C$21.89B | C$21.67B | C$21.55B | C$20.90B | C$21.37B |
| Long-term investments | C$578.34B | C$587.94B | C$587.39B | C$559.41B | C$551.35B | C$557.87B | C$536.02B | C$528.04B | C$534.66B | C$536.30B | C$531.28B |
| Other non-current assets | C$1.49T | C$1.45T | C$1.01T | C$1.15T | C$1.16T | C$1.20T | C$1.22T | C$1.18T | C$1.17T | C$1.13T | C$1.22T |
| Total assets | C$2.11T | C$2.09T | C$2.10T | C$2.04T | C$2.06T | C$2.09T | C$2.06T | C$1.97T | C$1.97T | C$1.91T | C$1.96T |
| Liabilities | |||||||||||
| Accounts payable | C$39.42B | C$42.07B | C$44.90B | C$32.46B | C$45.05B | C$39.84B | C$39.86B | C$37.64B | C$43.97B | C$44.85B | C$43.61B |
| Short-term debt | C$238.97B | C$229.09B | C$458.45B | C$416.13B | C$407.99B | C$434.18B | C$453.22B | C$413.94B | C$409.47B | C$393.18B | C$384.75B |
| Total current liabilities | C$238.97B | C$229.09B | C$1.64T | C$1.61T | C$1.60T | C$1.64T | C$1.63T | C$1.56T | C$1.55T | C$1.52T | C$1.54T |
| Long-term debt | C$223.99B | C$222.88B | C$50.35B | C$48.69B | C$50.80B | C$59.95B | C$53.48B | C$192.12B | C$190.44B | C$175.68B | C$151.70B |
| Lease obligations | C$5.35B | C$5.29B | C$5.25B | C$5.09B | C$5.00B | C$5.20B | C$5.01B | C$5.06B | C$5.12B | C$5.14B | C$5.05B |
| Other long-term liabilities | C$1.52T | C$1.51T | C$280.37B | C$250.20B | C$284.87B | C$275.07B | C$259.62B | C$100.45B | C$111.52B | C$102.70B | C$152.06B |
| Total liabilities | C$1.99T | C$1.96T | C$1.98T | C$1.91T | C$1.94T | C$1.97T | C$1.95T | C$1.86T | C$1.85T | C$1.80T | C$1.84T |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | C$24.16B | C$24.31B | C$24.59B | C$24.97B | C$25.14B | C$25.53B | C$25.37B | C$25.22B | C$25.26B | C$25.32B | C$25.43B |
| Retained earnings (deficit) | C$78.92B | C$78.30B | C$78.38B | C$78.75B | C$78.64B | C$71.72B | C$70.83B | C$69.32B | C$71.90B | C$72.35B | C$73.01B |
| Accumulated other comprehensive income | C$10.78B | C$9.80B | C$10.89B | C$10.74B | C$11.03B | C$10.52B | C$7.90B | C$6.01B | C$4.17B | C$3.83B | C$2.75B |
| Total shareholders' equity | C$127.08B | C$124.28B | C$125.79B | C$125.39B | C$126.09B | C$119.00B | C$115.16B | C$111.58B | C$111.98B | C$112.44B | C$112.07B |
| Key figures | |||||||||||
| Total debt | C$298.01B | C$275.49B | C$689.64B | C$629.12B | C$627.71B | C$659.60B | C$662.56B | C$611.12B | C$605.03B | C$574.00B | C$568.66B |
| Net cash (debt) | −C$291.20B | −C$268.39B | −C$236.44B | −C$383.86B | −C$365.20B | −C$408.13B | −C$432.07B | −C$435.55B | −C$436.01B | −C$418.55B | −C$452.15B |
| Working capital | −C$226.56B | −C$216.66B | −C$1.17T | −C$1.32T | −C$1.28T | −C$1.33T | −C$1.36T | −C$1.33T | −C$1.33T | −C$1.31T | −C$1.37T |
| Tangible book value | C$104.25B | C$102.19B | C$103.85B | C$103.32B | C$104.22B | C$96.26B | C$93.27B | C$89.90B | C$90.43B | C$91.54B | C$90.70B |
| Shares outstanding | 1.18B | 1.66B | 1.24B | 1.72B | 1.74B | 1.75B | 1.75B | 1.75B | 1.76B | 1.78B | 1.81B |
| Current ratio | 0.05 | 0.05 | 0.29 | 0.18 | 0.20 | 0.19 | 0.17 | 0.15 | 0.15 | 0.14 | 0.11 |
| Quick ratio | 0.05 | 0.05 | 0.29 | 0.18 | 0.20 | 0.18 | 0.17 | 0.15 | 0.15 | 0.14 | 0.11 |
| Debt / equity | 2.35 | 2.22 | 5.48 | 5.02 | 4.98 | 5.54 | 5.75 | 5.48 | 5.40 | 5.11 | 5.07 |
| Equity / assets | 6.0% | 6.0% | 6.0% | 6.2% | 6.1% | 5.7% | 5.6% | 5.7% | 5.7% | 5.9% | 5.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed December 4, 2025); data from EODHD.
TD financial position
At the end of fiscal 2025 (October 31, 2025), Toronto-Dominion Bank had total assets of C$2.09 trillion (up 1.6% from a year earlier), total liabilities of C$1.97 trillion and shareholders' equity of C$127.8 billion. It held C$156.1 billion in cash and short-term investments against C$663.6 billion of debt, net debt of C$507.5 billion. Its current ratio was 0.12. In the latest quarter (ended July 31, 2026) total assets were C$2.11 trillion and equity C$127.1 billion.
Related: TD income statement, TD key metrics. See the TD stock overview for the latest quote and news.
TD balance sheet FAQ
What are Toronto-Dominion Bank's total assets?
Toronto-Dominion Bank reported total assets of C$2.09 trillion at the end of fiscal 2025 (October 31, 2025), compared with C$2.06 trillion a year earlier.
How much debt does Toronto-Dominion Bank have?
Toronto-Dominion Bank had C$663.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 5.19.
How much cash does Toronto-Dominion Bank have?
Toronto-Dominion Bank held C$156.1 billion in cash and short-term investments at the end of fiscal 2025; with C$663.6 billion of debt that is net debt of C$507.5 billion.
What is Toronto-Dominion Bank's book value?
Toronto-Dominion Bank's shareholders' equity (book value) was C$127.8 billion at the end of fiscal 2025.
What is Toronto-Dominion Bank's current ratio?
Toronto-Dominion Bank had current assets of C$204.1 billion and current liabilities of C$1.64 trillion, a current ratio of 0.12 (current liabilities exceed current assets).
How much goodwill does Toronto-Dominion Bank have?
Toronto-Dominion Bank carried C$22.4 billion of goodwill and intangible assets, 1.1% of total assets, at the end of fiscal 2025.