TD (The Toronto-Dominion Bank) Scaled Net Operating Assets: 0.17 (As of Apr. 2026)


TD The Toronto-Dominion Bank TD
73 GF Score
Price $119.62
GF Value $76.49
Valuation Significantly Overvalued
! 8 Warning Signs
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What is The Toronto-Dominion Bank Scaled Net Operating Assets?

The Toronto-Dominion Bank TD -0.72% 73 Scaled Net Operating Assets is 0.17 as of Apr. 2026. GuruFocus rates TD with a GF Score™ of 73/100 and a GF Value™ of $76.49 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

The Toronto-Dominion Bank's operating assets for the quarter that ended in Apr. 2026 was $1,337,544 Mil. The Toronto-Dominion Bank's operating liabilities for the quarter that ended in Apr. 2026 was $1,081,059 Mil. The Toronto-Dominion Bank's Total Assets for the quarter that ended in Jan. 2026 was $1,524,440 Mil. Therefore, The Toronto-Dominion Bank's scaled net operating assets (SNOA) for the quarter that ended in Apr. 2026 was 0.17.

TD
73GF Score
The Toronto-Dominion Bank TD
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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The Toronto-Dominion Bank Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

The Toronto-Dominion Bank's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Oct. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Oct. 2025 )
=(Operating Assets (A: Oct. 2025 )-Operating Liabilities (A: Oct. 2025 ))/Total Assets (A: Oct. 2024 )
=(1413803.975-1089721.189)/1498692.302
=0.22

where

Operating Assets(A: Oct. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1497396.34 - 83592.365
=1413803.975

Operating Liabilities(A: Oct. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1406013.011 - 164917.072 - 151374.75
=1089721.189

The Toronto-Dominion Bank's Scaled Net Operating Assets (SNOA) for the quarter that ended in Apr. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Apr. 2026 )
=(Operating Assets (Q: Apr. 2026 )-Operating Liabilities (Q: Apr. 2026 ))/Total Assets (Q: Jan. 2026 )
=(1337543.987-1081059.329)/1524439.765
=0.17

where

Operating Assets(Q: Apr. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1515998.982 - 178454.995
=1337543.987

Operating Liabilities(Q: Apr. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1425612.186 - 165890.65 - 178662.207
=1081059.329

* 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.

What does a Scaled Net Operating Assets of 0.17 mean?
The Toronto-Dominion Bank (TD) has a Scaled Net Operating Assets of 0.17 as of Apr. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on The Toronto-Dominion Bank and its competitors.
Is The Toronto-Dominion Bank's Scaled Net Operating Assets too high?
The Toronto-Dominion Bank's current Scaled Net Operating Assets is 0.17. Overall, The Toronto-Dominion Bank has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does The Toronto-Dominion Bank's Scaled Net Operating Assets compare to JPM and BAC?
The Toronto-Dominion Bank's Scaled Net Operating Assets of 0.17 can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Banks company?
A good Scaled Net Operating Assets depends on the Banks industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on The Toronto-Dominion Bank and its competitors. The Toronto-Dominion Bank's current Scaled Net Operating Assets is 0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Toronto-Dominion Bank stock overvalued right now?
Based on GuruFocus' analysis, The Toronto-Dominion Bank (TD) is currently considered Significantly Overvalued. The stock's GF Value™ is $76.49, compared to a current price of $119.62 — trading 56.4% above its estimated fair value. The current Scaled Net Operating Assets is 0.17. The Toronto-Dominion Bank's overall GF Score™ is 73/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For The Toronto-Dominion Bank (TD), the current Scaled Net Operating Assets is 0.17 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is The Toronto-Dominion Bank (TD) Overvalued in 2026?

Based on GuruFocus' analysis, The Toronto-Dominion Bank stock appears to be overvalued. The current stock price of $119.62 is trading 56.4% above its estimated GF Value™ of $76.49. GuruFocus considers The Toronto-Dominion Bank to be Significantly Overvalued.

Key valuation signals for TD:

  • Scaled Net Operating Assets: 0.17
  • GF Value™: $76.49 vs. price of $119.62 (56.4% above fair value)
  • GF Score™: 73/100 with 8 warning signs

No single metric tells the full story. See the TD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

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 by the end of April 2026. 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 50% of its revenue from Canada and has dominant market shares in nearly all banking products and services. TD has around 44% of its revenue from its US operations. Its US footprint spans from Maine to Florida, with a strong presence in the Northeast.
73GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$119.62
Price
$76.49
GF Value