The Toronto-Dominion Bank

TDNYSEFinancial Services● Active

$114.31

+$1.15(+1.02%)

Market Cap$193.1B

P/E Ratio—

52W High$114.5094

52W Low$69.56

Avg Volume2.4M

Open$113.86

Beta0.88

Overview

The Toronto-Dominion Bank (TD) Free Cash Flow & Analysis

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

TD · free cash flow · updated Jun 8, 2026

Core FCF metrics

TD · FCF · TTM · margin & CAGR

Free cash flow was −$71.79B for FY2025 (fiscal year ending 2025-10-31), down 236.1% year-over-year The FCF margin was -62.0%.

FY2025 Free Cash Flow−$71.79B▼ -236.1% YoY

Trailing 12M (TTM)$13.03BTrailing 4Q sum · TTM positive vs latest FY negative

FCF Margin-62.0%−$71.79B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

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

TD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$69.65B(2.15B)−$71.79B▼ 236.1%-62.0%

FY2024$54.94B(2.18B)$52.76B▲ +178.6%44.3%

FY2023−$65.30B(1.84B)−$67.15B▼ 279.1%-65.7%

FY2022$38.95B(1.45B)$37.49B▼ 23.5%63.1%

FY2021$50.13B(1.13B)$49.00B▼ 78.5%102.7%

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

FCF valuation metrics

TD · P/FCF · FCF yield · FCF per share

The Toronto-Dominion Bank (TD) trades at a FCF yield of 4.93% and a price-to-free-cash-flow ratio of 15.1x. FCF per share stands at $7.59, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.93%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.59

TTM FCF ÷ Shares Outstanding

Price / FCF

x15.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x64.6

Enterprise Value basis

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

Cash flow statement summary

TD · cash flow statement · operating / investing / financing

For FY2025, The Toronto-Dominion Bank generated −$69.65B in operating cash flow and spent 2.15B in capital expenditures, yielding −$71.79B in free cash flow.

Operating Activities

−$69.65B

Cash from core business operations

2025-10-31

Investing Activities

+$86.19B

CapEx, acquisitions & investments

2025-10-31

Financing Activities

−$15.50B

Buybacks, dividends & debt

2025-10-31

FCF FormulaOperating CF (−$69.65B) − |CapEx| (2.15B) = FCF (−$71.79B)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

TD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

The Toronto-Dominion BankYOU

−$71.79B-236.1%-62.0%

Loss

Berkshire Hathaway Inc.

BRK-B

$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 Toronto-Dominion Bank (TD) reported free cash flow of −$71.79B for FY2025 (fiscal year ending 2025-10-31), down 236.1% year-over-year. The FCF margin was -62.0%.

Based on available data, The Toronto-Dominion Bank has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $228.35B in FY2020.

The Toronto-Dominion Bank's FCF yield is 4.93% and price-to-FCF ratio is 15.1x 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

TD free cash flow · 8 questions

The Toronto-Dominion Bank free cash flow was −$71.79B for FY2025, down 236.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $13.03B.

TD free cash flowTD FCFTD FCF 2025TD free cash flow TTM

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