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TD Split (TSX:TDS.PR.C.PFD) Return-on-Tangible-Equity : -6.24% (As of May. 2015)


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What is TD Split Return-on-Tangible-Equity?

Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. TD Split's annualized net income for the quarter that ended in May. 2015 was C$-1.84 Mil. TD Split's average shareholder tangible equity for the quarter that ended in May. 2015 was C$29.51 Mil. Therefore, TD Split's annualized Return-on-Tangible-Equity for the quarter that ended in May. 2015 was -6.24%.

The historical rank and industry rank for TD Split's Return-on-Tangible-Equity or its related term are showing as below:

TSX:TDS.PR.C.PFD' s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -37.41   Med: 22.86   Max: 47.61
Current: 11.47

During the past 13 years, TD Split's highest Return-on-Tangible-Equity was 47.61%. The lowest was -37.41%. And the median was 22.86%.

TSX:TDS.PR.C.PFD's Return-on-Tangible-Equity is not ranked
in the Asset Management industry.
Industry Median: 7.73 vs TSX:TDS.PR.C.PFD: 11.47

TD Split Return-on-Tangible-Equity Historical Data

The historical data trend for TD Split's Return-on-Tangible-Equity 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.

TD Split Return-on-Tangible-Equity Chart

TD Split Annual Data
Trend Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14
Return-on-Tangible-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.25 0.63 20.79 37.08 24.92

TD Split Semi-Annual Data
May05 Nov05 May06 Nov06 Nov07 May08 Nov08 May09 Nov09 May10 Nov10 May11 Nov11 May12 Nov12 May13 Nov13 May14 Nov14 May15
Return-on-Tangible-Equity 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 15.15 57.16 19.73 28.54 -6.24

Competitive Comparison of TD Split's Return-on-Tangible-Equity

For the Asset Management subindustry, TD Split's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.


TD Split's Return-on-Tangible-Equity Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, TD Split's Return-on-Tangible-Equity distribution charts can be found below:

* The bar in red indicates where TD Split's Return-on-Tangible-Equity falls into.


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TD Split Return-on-Tangible-Equity Calculation

TD Split's annualized Return-on-Tangible-Equity for the fiscal year that ended in Nov. 2014 is calculated as

Return-on-Tangible-Equity=Net Income/( (Total Tangible Equity+Total Tangible Equity)/ count )
(A: Nov. 2014 )  (A: Nov. 2013 )(A: Nov. 2014 )
=Net Income/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets )/ count )
(A: Nov. 2014 )  (A: Nov. 2013 )(A: Nov. 2014 )
=7.298/( (28.452+30.122 )/ 2 )
=7.298/29.287
=24.92 %

TD Split's annualized Return-on-Tangible-Equity for the quarter that ended in May. 2015 is calculated as

Return-on-Tangible-Equity=Net Income/( (Total Tangible Equity+Total Tangible Equity)/ count )
(Q: May. 2015 )  (Q: Nov. 2014 )(Q: May. 2015 )
=Net Income/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets)/ count )
(Q: May. 2015 )  (Q: Nov. 2014 )(Q: May. 2015 )
=-1.842/( (30.122+28.9)/ 2 )
=-1.842/29.511
=-6.24 %

* 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.

In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is two times the semi-annual (May. 2015) net income data. Return-on-Tangible-Equity is displayed in the 10-year financial page.


TD Split  (TSX:TDS.PR.C.PFD) Return-on-Tangible-Equity Explanation

Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.


Be Aware

Net Income is used.

Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.


TD Split Return-on-Tangible-Equity Related Terms

Thank you for viewing the detailed overview of TD Split's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.


TD Split Business Description

Traded in Other Exchanges
N/A
Address
TD Split Inc., incorporated under the laws of the Province of Ontario on July 31, 2000. The Company is a closed-end mutual fund corporation mainly invests in common shares of The Toronto-Dominion Bank. The Company is a provider of advisory and capital market services and the premier provider of liquidity to corporations, governments and institutions.

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