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The Toronto-Dominion Bank (TSX:TD) Cyclically Adjusted Price-to-FCF : 4.13 (As of Jun. 04, 2025)


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What is The Toronto-Dominion Bank Cyclically Adjusted Price-to-FCF?

As of today (2025-06-04), The Toronto-Dominion Bank's current share price is C$96.02. The Toronto-Dominion Bank's Cyclically Adjusted FCF per Share for the quarter that ended in Apr. 2025 was C$23.23. The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF for today is 4.13.

The historical rank and industry rank for The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

TSX:TD' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 2.53   Med: 3.89   Max: 7.07
Current: 4.09

During the past years, The Toronto-Dominion Bank's highest Cyclically Adjusted Price-to-FCF was 7.07. The lowest was 2.53. And the median was 3.89.

TSX:TD's Cyclically Adjusted Price-to-FCF is ranked better than
79.28% of 888 companies
in the Banks industry
Industry Median: 8.64 vs TSX:TD: 4.09

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

The Toronto-Dominion Bank's adjusted free cash flow per share data for the three months ended in Apr. 2025 was C$6.489. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is C$23.23 for the trailing ten years ended in Apr. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


The Toronto-Dominion Bank Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

The Toronto-Dominion Bank Cyclically Adjusted Price-to-FCF Chart

The Toronto-Dominion Bank Annual Data
Trend Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.49 3.41 2.96 3.12 2.90

The Toronto-Dominion Bank Quarterly Data
Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.43 3.64 2.90 3.72 3.79

Competitive Comparison of The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF

For the Banks - Diversified subindustry, The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF Distribution in the Banks Industry

For the Banks industry and Financial Services sector, The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF falls into.


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The Toronto-Dominion Bank Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=96.02/23.23
=4.13

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The Toronto-Dominion Bank's Cyclically Adjusted FCF per Share for the quarter that ended in Apr. 2025 is calculated as:

For example, The Toronto-Dominion Bank's adjusted Free Cash Flow per Share data for the three months ended in Apr. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Apr. 2025 (Change)*Current CPI (Apr. 2025)
=6.489/129.1809*129.1809
=6.489

Current CPI (Apr. 2025) = 129.1809.

The Toronto-Dominion Bank Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201507 2.667 100.579 3.425
201510 5.883 100.500 7.562
201601 8.511 100.184 10.974
201604 0.490 101.370 0.624
201607 13.634 101.844 17.294
201610 -2.690 102.002 -3.407
201701 5.131 102.318 6.478
201704 4.225 103.029 5.297
201707 -3.014 103.029 -3.779
201710 7.498 103.424 9.365
201801 1.208 104.056 1.500
201804 -3.447 105.320 -4.228
201807 4.136 106.110 5.035
201810 0.866 105.952 1.056
201901 -1.895 105.557 -2.319
201904 -1.071 107.453 -1.288
201907 2.371 108.243 2.830
201910 0.303 107.927 0.363
202001 5.765 108.085 6.890
202004 76.174 107.216 91.779
202007 33.415 108.401 39.820
202010 11.124 108.638 13.227
202101 24.977 109.192 29.549
202104 -7.076 110.851 -8.246
202107 1.513 112.431 1.738
202110 7.551 113.695 8.579
202201 15.577 114.801 17.528
202204 -6.472 118.357 -7.064
202207 10.323 120.964 11.024
202210 1.174 121.517 1.248
202301 2.553 121.596 2.712
202304 -29.749 123.571 -31.100
202307 -17.053 124.914 -17.635
202310 7.724 125.310 7.963
202401 -11.575 125.072 -11.955
202404 2.753 126.890 2.803
202407 -6.001 128.075 -6.053
202410 45.153 127.838 45.627
202501 -29.003 127.443 -29.399
202504 6.489 129.181 6.489

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


The Toronto-Dominion Bank  (TSX:TD) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


The Toronto-Dominion Bank Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of The Toronto-Dominion Bank's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


The Toronto-Dominion Bank Business Description

Address
Toronto-Dominion Centre, P.O. Box 1, Toronto, ON, CAN, M5K 1A2
Toronto-Dominion is one of Canada's two largest banks with over CAD 2 trillion in assets. TD Bank operates four business segments: Canadian personal and commercial banking, US retail banking, wealth management and insurance, and wholesale banking. The bank derives more than 55% of its revenue from Canada and has dominant market share in nearly all banking products and services. TD has around 40% of its revenue from its US operations. Its US footprint spans from Maine to Florida, with a strong presence in the Northeast.
Executives
Nathalie Palladitcheff Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Elio Luongo Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Ana Arsov Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Ajay Kumar Virmani Director
Michael A French Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Keith Martell Director
Ayman Antoun Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Maryann Kennedy Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Barbara Ann Hooper Senior Officer
Kelvin Vi Luan Tran Senior Officer
Riaz Ahmed Senior Officer
Robert E Dorrance Senior Officer
Mark Russell Chauvin Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
Anita O'dell Senior Officer
Paul Campbell Douglas Senior Officer