provenBusinessModel

Proven business model

Deliver consistent earnings growth, underpinned by a strong risk culture

We have diversification, scale, and a unique footprint

$11.9 billion
2020 Reported Earnings
$10.0 billion
2020 Adjusted Earnings

TD’S PREMIUM RETAIL EARNINGS MIX1

 Canadian Retail
 U.S. Retail
 Wholesale

86% Retail
14% Wholesale

Canadian Retail: 57%, U.S. Retail: 29%, Wholesale: 14%

1 Reported basis excluding Corporate segment

2,308
retail locations in North America
 
15
TD Securities offices worldwide
 
 

We have a strong balance sheet

$1.7 trillion
Assets

Up 21.2% YoY

$1.1 trillion
Deposits

Up 28.0% YoY

13.1%
CET1 Ratio
145%
Liquidity Coverage Ratio
2.41%
Return on Risk-Weighted Assets

(Financial information as at October 31, 2020)

 

We have a deep commitment to sustaining the trust of those we serve

Three core principles of our Risk Appetite

We take risks required to build our business, but only if those risks:

  1. Fit our business strategy and can be understood and managed
  2. Do not expose the enterprise to any significant single loss events; we don’t “bet the bank” on any single acquisition, business or product
  3. Do not risk harming the TD brand

2020 Snapshot

Performance indicators focus effort, communicate our priorities, and benchmark our results against key elements of our proven business model. Results in 2020 were significantly affected by the COVID-19 pandemic.

 
Performance Indicators1    2020 Results1 (on an adjusted basis)
  • Deliver above-peer-average Total Shareholder Return
  • Grow medium-term EPS by 7% to 10%
  • Grow revenue faster than expenses2
  • -17.9% vs. Canadian peer average of -12.6%
  • -19.9% EPS decline
  • Revenue growth of 2.8% vs. expense growth of 1.2%

Net Income

available to common shareholders
(millions of Canadian dollars)

light green bar represents Reported Reported     green bar represents Adjusted Adjusted

Net Income available to common shareholders (millions of Canadian dollars) 2016 Reported: 8,680, Adjusted: 9,036; 2017 Reported: 10,203, Adjusted: 10,273; 2018 Reported: 11,048, Adjusted: 11,897; 2019 Reported: 11,416, Adjusted: 12,233; 2020 Reported: 11,628, Adjusted: 9,701  

TD's 5-year CAGR

8.3% Reported
2.6% Adjusted

Diluted Earnings Per Share

(Canadian dollars)
 

light green bar represents Reported Reported     green bar represents Adjusted Adjusted

Diluted Earnings Per Share (Canadian dollars) 2016 Reported: 4.67, Adjusted: 4.87; 2017 Reported: 5.50, Adjusted: 5.54; 2018 Reported: 6.01, Adjusted: 6.47; 2019 Reported: 6.25, Adjusted: 6.69; 2020 Reported: 6.43, Adjusted: 5.36  

TD's 5-year CAGR

8.8% Reported
3.1% Adjusted

Return on Common Equity

(percent)
 

light green bar represents Reported Reported     green bar represents Adjusted Adjusted

Return on Common Equity (percent) 2016 Reported: 13.4, Adjusted: 14.7; 2017 Reported: 13.3, Adjusted: 13.9; 2018 Reported: 14.9, Adjusted: 15.0; 2019 Reported: 15.7, Adjusted: 16.9; 2020 Reported: 14.5, Adjusted: 15.6  

TD's 2019 ROE

13.6% Reported
11.4% Adjusted

 
 

DIVIDEND HISTORY

Dividend History (Canadian dollars) 1995: 0.22, 1996: 0.25, 1997: 0.28, 1998: 0.33, 1999: 0.36, 2000: 0.46, 2001: 0.55, 2002: 0.56, 2003: 0.58, 2004: 0.68, 2005: 0.79, 2006: 0.89, 2007: 1.06, 2008: 1.18, 2009: 1.22, 2010: 1.22, 2011: 1.31, 2012: 1.45, 2013: 1.62, 2014: 1.84, 2015: 2.00, 2016: 2.16, 2017: 2.35, 2018: 2.61, 2019: 2.89, 2020: 3.11

164-year
Continuous Dividend History

5.1%
2020 Dividend Yield

5.9%
Total Shareholder Return4
(5-year CAGR)

 

1 Performance indicators that include an earnings component are based on TD’s full-year adjusted results as explained in footnote 1 on page 15.
2 Revenue is net of insurance claims and related expenses.
3 25-year CAGR is the compound annual growth rate calculated from 1995 to 2020.
4 5-year CAGR is the compound annual growth rate calculated from 2015 to 2020.

Refer to footnotes on page 15 of the 2020 Management’s Discussion & Analysis (available here) for information on how the results on this page are calculated.

 
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