The Bank of Nova Scotia
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
8.347.49
Price/Sales ratio
1.961.85
Earnings per Share (EPS)
$6.83$7.60

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
10.5912.1912.4910.0210.999.8910.337.969.7112.3013.2810.99
Price/Sales ratio
3.143.343.733.033.052.143.212.532.462.841.792.14
Price/Book Value ratio
1.421.541.661.311.360.981.401.070.931.151.251.25
Price/Cash Flow ratio
5.3621.176.034.81-7.661.18-7.764.652.276.095.24-7.66
Price/Free Cash Flow ratio
5.4723.1338.754.92-7.551.19-7.494.822.306.294.97-7.55
Price/Earnings Growth ratio
60.286.950.961.31-2.34-0.510.241.98-0.30-67.06-8.76-0.51
Dividend Yield
4.58%4.14%3.79%4.86%4.81%6.79%4.62%6.48%7.52%5.93%5.83%4.81%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%108.66%100%102.14%100%
Operating Profit Margin
67.93%65.78%70.77%80.82%35.92%26.59%40.41%81.41%45.89%N/A6.19%26.59%
Pretax Profit Margin
38.34%36.23%38.41%39.36%37.27%26.83%41.49%41.51%33.34%29.52%18.46%26.83%
Net Profit Margin
29.66%27.44%29.92%30.29%27.74%21.66%31.13%31.83%25.33%23.07%14.58%21.66%
Effective Tax Rate
20.43%21.60%19.78%21.44%21.93%18.37%22.38%21.32%22.82%20.47%20.69%18.37%
Return on Assets
0.81%0.79%0.87%0.85%0.77%0.59%0.81%0.73%0.52%0.54%0.54%0.59%
Return On Equity
13.48%12.65%13.33%13.10%12.42%9.94%13.59%13.54%9.63%9.41%9.63%9.94%
Return on Capital Employed
2.18%2.15%2.32%2.54%1.12%0.77%1.14%2.10%0.95%N/A0.23%0.77%
Liquidity Ratios
Current Ratio
1.051.051.061.051.050.40N/AN/AN/AN/AN/A0.40
Quick Ratio
0.833.353.773.983.407.035.573.94N/AN/AN/A7.03
Cash ratio
0.600.440.580.600.381.160.920.46N/AN/AN/A1.16
Days of Sales Outstanding
74.0374.0170.9096.6793.95101.53107.15156.81174.81142.1189.82101.53
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/A174.81N/A89.82N/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/A-2.44KN/A-5.36KN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/A2.61KN/A5.45KN/A
Debt Ratios
Debt Ratio
0.000.130.130.010.120.000.200.220.220.210.210.12
Debt Equity Ratio
0.142.222.050.212.070.103.424.194.033.613.612.07
Long-term Debt to Capitalization
0.120.680.670.170.670.090.690.700.710.700.700.67
Total Debt to Capitalization
0.120.680.670.170.670.090.770.800.800.780.780.67
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.10N/A
Cash Flow to Debt Ratio
1.800.030.131.28-0.087.65-0.050.050.100.050.06-0.08
Company Equity Multiplier
16.4615.9315.2415.3016.0816.6816.7318.4218.3317.1417.1416.08
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.580.150.620.63-0.391.81-0.410.541.080.460.36-0.39
Free Cash Flow / Operating Cash Flow Ratio
0.970.910.150.971.010.981.030.960.980.960.970.98
Cash Flow Coverage Ratio
1.800.030.131.28-0.087.65-0.050.050.100.050.06-0.08
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/A-0.150.130.260.150.18N/A
Dividend Payout Ratio
48.55%50.55%47.43%48.80%52.94%67.26%47.83%51.61%73.17%73.08%73.08%52.94%