Companies: 10,795·Total market cap: $144.5T
The Bank of Nova Scotia

The Bank of Nova Scotia

BNS.TOTSXFinancial Services● Active
$112.80
+$0.44(+0.39%)
Market Cap$138.3B
P/E Ratio—
52W High$113.6
52W Low$72.95
Free Cash FlowFinancialsRevenue

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

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

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
bns.to free cash flow history · bns.to free cash flow chart · bns.to free cash flow growth rate · bns.to free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest$10.14B▼ 33.1%13.9%
FY2024$15.16B▼ 51.5%51.4%
FY2023$31.28B▲ +91.1%98.4%
FY2022$16.37B▲ +223.4%52.6%
FY2021−$13.27B▼ 123.7%-42.9%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
bns.to free cash flow 2025 · bns.to free cash flow 2024 · bns.to free cash flow 2023 · bns.to operating cash flow

FCF valuation metrics

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
bns.to price to free cash flow · bns.to free cash flow yield · bns.to free cash flow per share · bns.to price to cash flow ratio

Cash flow statement summary

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 →
bns.to cash flow statement · bns.to cash flow statement 2025 · bns.to operating cash flow · bns.to cash flow from operations

Free cash flow vs peers (Financial Services)

#CompanyFree Cash FlowYoY
#1
The Bank of Nova Scotia
The Bank of Nova ScotiaYOU
BNS.TO
$10.14B-33.1%
#2
JPMorgan Chase & Co.
JPMorgan Chase & Co.
JPM
$100.87B+340.1%#3
Berkshire Hathaway Inc.
Berkshire Hathaway Inc.
BRK-A
$25.04B+115.6%#4
Berkshire Hathaway Inc.
Berkshire Hathaway Inc.
BRK-B
$25.04B+115.6%#5
Visa Inc.
Visa Inc.
V
$21.58B+15.4%#6
Mastercard Incorporated
Mastercard Incorporated
MA
$16.91B+18.2%
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.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/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