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The Bank of Nova Scotia

BNS
44
Banks - Diversified · Financial Services
Also trades as: 0UKI.L GBP 1.29 (-0.06%) · BNS.TO CAD 129.52 (+0.23%)
Price
$91.60
+0.48 (+0.53%)
Market Cap
$111.64B
Exchange
New York Stock Exchange
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 18, 2026 · filings through Jul 31, 2026

§How the score breaks down

Bank Quality
Not counted
n/a
Growth
Good
12/20
Capital Strength
Not counted
n/a
Asset Quality
Not counted
n/a
Valuation
Good
5/10
Ownership
Weak
2/15
Dividends
Good
3/5

22 of 50 counted points = Winston Score 44. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+1.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.23B (2021) → 1.25B (2025)

§Winston Score History

The full picture

The Bank of Nova Scotia, commonly known as Scotiabank, is one of Canada's five largest banks. It offers everyday banking services like checking accounts, mortgages, credit cards, and loans to regular people and businesses. It also provides investment banking, wealth management, and insurance services, making it a full-service financial institution.

Scotiabank earns money through interest on loans, fees for banking services, and commissions on investment products. Unlike most Canadian banks, it has a strong international presence, particularly across Latin America and the Caribbean — a region it calls the "Pacific Alliance" markets, covering Mexico, Peru, Chile, and Colombia. This international focus is both a growth opportunity and a key risk, since those economies can be more volatile than Canada's. Slower economic growth or currency swings in Latin America could pressure earnings, while continued expansion there could boost long-term profits.

Politician Trades

2 trades / 12mo

2 Congressional buys and 0 sells on BNS in the last 12 months.

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Score breakdown

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Bank Quality

Not applicable for this business.

Growth

Sales growth
Sales YoY
-3.2%
Shrinking sales (-3.2% YoY)
Profit growth
EPS YoY
+47.3%
Earnings growing fast (+47.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit
P/E Ratio (TTM)
11.9x
Attractive valuation — P/E 11.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
-3.7
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
3.65%
Moderate income — 3.65% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+3.8%
Dividend growing modestly (3.8% YoY)
Payout Ratio
60%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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