The Bank of Nova Scotia

BNS.TOTSXFinancial Services● Active

$112.36

$-0.75(-0.66%)

Market Cap$137.8B

P/E Ratio—

52W High$113.57

52W Low$72.95

Avg Volume4.2M

Open$112.64

Beta1.22

Free Cash Flow Financials Revenue

The Bank of Nova Scotia (BNS.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

BNS.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

BNS.TO · FCF · TTM · margin & CAGR

Free cash flow was $10.14B for FY2025 (fiscal year ending 2025-10-31), down 33.1% year-over-year The FCF margin was 13.9%. Five-year CAGR stands at -28.9%.

FY2025 Free Cash Flow$10.14B▼ -33.1% YoY

Trailing 12M (TTM)$13.64Btrailing 4 quarters sum

FCF Margin13.9%$10.14B ÷ revenue

3-Year CAGR-14.8%FY2022 → FY2025

5-Year CAGR-28.9%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

BNS.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$10.49B(347M)$10.14B▼ 33.1%13.9%

FY2024$15.65B(489M)$15.16B▼ 51.5%51.4%

FY2023$12.25B(442M)$31.28B▲ +91.1%98.4%

FY2022$16.94B(571M)$16.37B▲ +223.4%52.6%

FY2021−$12.81B(462M)−$13.27B▼ 123.7%-42.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

BNS.TO · P/FCF · FCF yield · FCF per share

The Bank of Nova Scotia (BNS.TO) trades at a FCF yield of 9.90% and a price-to-free-cash-flow ratio of 10.3x. FCF per share stands at $10.96, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

9.90%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$10.96

TTM FCF ÷ Shares Outstanding

Price / FCF

x10.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x30.4

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-10-31

Cash flow statement summary

BNS.TO · cash flow statement · operating / investing / financing

For FY2025, The Bank of Nova Scotia generated $10.49B in operating cash flow and spent 347M in capital expenditures, yielding $10.14B in free cash flow.

Operating Activities

+$10.49B

Cash from core business operations

2025-10-31

Investing Activities

−$19.00B

CapEx, acquisitions & investments

2025-10-31

Financing Activities

+$9.18B

Buybacks, dividends & debt

2025-10-31

FCF FormulaOperating CF ($10.49B) − |CapEx| (347M) = FCF ($10.14B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

BNS.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

The Bank of Nova ScotiaYOU

BNS.TO

$10.14B-33.1%13.9%

10%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

The Bank of Nova Scotia (BNS.TO) reported free cash flow of $10.14B for FY2025 (fiscal year ending 2025-10-31), down 33.1% year-over-year. The FCF margin was 13.9%.

Based on available data, The Bank of Nova Scotia has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $55.89B in FY2020. The 5-year CAGR stands at -28.9%.

The Bank of Nova Scotia's FCF yield is 9.90% and price-to-FCF ratio is 10.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

BNS.TO free cash flow · 8 questions

The Bank of Nova Scotia free cash flow was $10.14B for FY2025, down 33.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $13.64B.

BNS.TO free cash flowBNS.TO FCFBNS.TO FCF 2025BNS.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · The Bank of Nova Scotia · The Bank of Nova Scotia SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026