The Toronto-Dominion Bank (TD)

Hold Recap: Q3 FY26

Sixteen Percent Arrives Years Early, and for the First Time the Fundamentals Gain on the Price

Hold Recap: Q2 FY26

Everything We Asked For, at a Price We Did Not: Credit Turns, U.S. Loans Inflect, and the Multiple Goes to 2.3x Book

Hold Recap: Q1 FY26

The Repair Is Done and Largely Priced: Record C$4.2B Quarter, 14.2% ROE, and a Book Multiple That Already Underwrites 2027