QualityDipStocks / Finance · Major Banks
Bank Nova Scotia Halifax Pfd 3 BNS
Outside our quality screen, so we don’t track its dips. It’s 2% below its 52-week high.
Outside our quality screen, trading well above our fair value estimate.
- Fair value est.
- $59.02−37%
- Market Value
- —
- Off 52-wk high
- −2%
- Risk vs market
- Below marketbeta 0.72
2 bullish · 5 bearish See why
Key levels
Every level vs today’s $93.76
- Fair value est.base case$59.02−37.1%
- 52-wk lowlowest close, 1 year$65.50−30.1%
- PriceFri Oct 30 close$93.76you are here
- 52-wk highhighest close, 1 year$95.41+1.8%
Fair value estimate
How the range is computed
Financials model (residual income). Same residual-income model as the base: cost of equity 9.5% ±1 point and return on equity 10.9% ±2 points. Bear = 10.5% and 8.9%; bull = 8.5% and 12.9%. A model estimate from public filings, not a forecast of where the price will go.
Price is above even the bull case.
What the price implies To be worth today’s price, BNS would need a return on equity of about 17% a year; our estimate uses 11%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much BNS moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves a bit less than the market, but its own price swings are 1.5× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.72
- Volatility
- 20% vs 13% SPY
- Correlation SPY
- 0.47
- Correlation QQQ
- 0.38
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 2 of 5
Cash returnsDividend yield of 3.6% ($4.2B paid over 12 months, 75% of earnings).
GrowthSales grew 12% to $27.1B over the last 12 months vs the 12 months before (SEC filings).
Top bearish points 5 of 5
ValuationOur residual-income fair value estimate is $59.02, 37% below the price.
GrowthDiluted EPS fell 3.4% in the last fiscal year, below the 17% median for the 137 Finance companies we cover.
ValuationP/E of 20.8×, above the 13.5× median for the 151 Finance companies we cover.
ProfitabilityReturn on equity of 9.2%, below the 13% median for the 143 Finance companies we cover.
QualityDoesn’t pass our quality screen: ROE under 12% and ROIC under 10%.
Who’s talking about it
Notable investors, executives, analysts and public figures on Bank Nova Scotia Halifax Pfd 3 in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Major Banks
All fundamentals
P/E 20.8 · ROE 9% · Sales +12%
Valuation
- P/E
- 20.8×Finance median 13.5×
- Price / FCF
- n/acash flow isn't a clean measure for a bank
- FCF yield
- n/acash flow isn't a clean measure for a bank
- EV / EBITDA
- n/anot meaningful for a bank
- Price / sales
- 4.28×
- Price / book
- 1.86×
- Market cap
- $116Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $27.1B
- Sales growth, 12 months
- +12.1%vs the 12 months before
- Sales growth, 3 yrs
- +6.3%/yrfrom FY2022
- Diluted EPS, 12 months
- $5.67
- EPS growth, last FY
- −3.4%
- Net income, 12 months
- $5.6B
- Net income growth
- +0%12 months vs before
Profitability
- Gross margin
- n/anot meaningful for a bank
- Operating margin
- n/anot reported in its SEC filings
- Net margin
- 20.6%
- FCF margin
- n/anot reported in its SEC filings
- Return on equity
- 9%
- Return on invested capital
- n/anot meaningful for a bank
Balance sheet
- Cash & short-term inv.
- $7.4B
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/anot meaningful for a bank
- Debt / equity
- n/adeposits/float make debt/equity not comparable for a bank
- Interest coverage
- n/anot meaningful for a bank
Cash flow & returns
- Free cash flow, 12 months
- n/anot reported in its SEC filings
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 3.63%$4.2B paid
- Payout ratio
- 75%
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Oct 31, 2025; balance sheet at Oct 31, 2025. From Bank Nova Scotia Halifax Pfd 3’s SEC filings, reported in CAD and converted to US dollars. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
DCF $59.02
Financials model (residual income): book value $51.69 a share on Jul 31, 2026, converted from CAD at 0.7168, plus the earnings above a 9.5% cost of equity. ROE 10.9%, the average of 11.0% for the trailing 12 months to Jul 31, 2026 and 10.8% over fiscal 2021–2025, on average common equity; payout 63% of earnings (dividends 63%), so book grows by the retained rest; the return above 9.5% fades halfway toward 9.5% over 10 years, then grows at 3% (terminal value). From the 6-K filed Aug 25, 2026.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Momentum & 52-week range
RSI 56 · 5 days +0.9%
The business
FCF $6.3B · Sales +10%
- Free cash flow, 12 months$6.3B
- Free-cash-flow yield5.4%
- Return on equity12%
- Sales growth (latest quarter vs year-ago quarter)+10%
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
BNS is outside our quality screen
One text when a published rule fires on one of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.