Bank of Nova Scotia (BNS)

NYSE: BNS · State Commercial Banks · Toronto, ON · filing with the SEC since 2000

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Grade4.5

◀ Past 6.0● Present 3.1▶ Future 4.1

1 est.

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The grade of Bank of Nova Scotia

Nine metrics read from its own filings, by tense

Headline grade

4.5/10

◀ Past6.040% of the headline

● Present3.135% of the headline

▶ Future4.125% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.0/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

7.8/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 78th percentile among 165 sector filers · read for itself

From the record

Bank of Nova Scotia's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

4.8/10

What has it actually done, year after year?

+4.1% a year over 10 filed years; profitable in 10 of 10.

weight 22% of this tense · 47th percentile among 152 sector filers · read for its customers

From the record

Bank of Nova Scotia's 10 filed years say what it did: revenue went from CAD 26 billion in fiscal 2016 to CAD 38 billion in fiscal 2025, up 4.1% a year; it rose in 8 of 9 years; the deepest fall was 0% from fiscal 2020 to fiscal 2021; net income was positive in 10 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span4.1%bottom 2% of its family
the share of years revenue rosetop 39% of its family
the share of filed years with a profittop 44% of its family
the deepest fall from a revenue peak0.3%top 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

4.3/10

How has it treated the people who own it?

Share count grew 1.1% a year. 32% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 33% of this tense · 43rd percentile among 157 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-10-31, Bank of Nova Scotia's diluted share count grew about 1.1% a year, and dividends and buybacks returned about 32% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 37% of its family
cash returned against operating cash flowtop 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.1/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

2.4/10

Is it financially healthy right now?

ROE 9%: 9¢ of profit per shareholder dollar. Leverage 94%: owes 94¢ per asset dollar.

weight 45% of this tense · 24th percentile among 161 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-10-31, Bank of Nova Scotia earned about 9 cents of profit for every dollar of shareholders' money. Leverage: it owed about 94 cents per dollar of assets, and net share issuance: its share count grew 1.3% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 2% of its family
return on equitybottom 36% of its family
the share count against the year beforebottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.8/10

How strong is its position in its industry?

bottom 28% of 155 in its family; net margin 20.6%.

weight 33% of this tense · 28th percentile among 155 sector filers · read for its customers

From the record

Bank of Nova Scotia's standing among 155 graded names in its industry family: revenue of CAD 38 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 20.6% ranks in the bottom 47%; revenue growth of 6.3% a year over the last 3 filed years ranks in the bottom 9% (its annual reports).

What it rests on

net margin20.6%bottom 47% of its family
three-year revenue growth6.3%bottom 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.9/10

What are the people in charge doing?

SI estimate 4.9/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 158 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there, so the desk assumes the typical reading of its industry family, the median of 158 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there.
How it was reasoned: family median, 158 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Bank of Nova Scotia's leadership is put at 4.9 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there, so the desk assumes the typical reading of its industry family, the median of 158 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.1/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

1.7/10

How much room does it have to grow?

bottom 17% of 142 in its family for room to expand.

weight 33% of this tense · 17th percentile among 142 sector filers · read for itself

From the record

Bank of Nova Scotia's room to grow, from the newest filed statements (fiscal 2025): cash of CAD 10 billion against no long-term debt tagged leaves 0.7% of its assets as net cash, bottom 16% of its family; cash from operations less capital spending is 14.3% of revenue (bottom 17%) (its annual report).

What it rests on

cash less debt against assets0.7%bottom 16% of its family
cash from operations less capital spending against revenue14.3%bottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

5.9/10

What could actually drive growth from here?

top 41% of 152 in its family for growth drivers.

weight 33% of this tense · 59th percentile among 152 sector filers · read for its customers

From the record

Bank of Nova Scotia's growth drivers, from the filed years to fiscal 2025: revenue grew 6.3% a year over the last three filed years against 4.1% over all 10, speeding up (bottom 37% of its family); the newest year grew 12.1% (top 20%) (its annual reports). Bank of Nova Scotia tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+2.2 points a yearbottom 37% of its family
the newest year's revenue growth12.1%top 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

4.7/10

Did its newest year beat what its own record pointed to?

bottom 47% of 150 in its family for expectations against reality.

weight 33% of this tense · 47th percentile among 150 sector filers · read for its shareholders

From the record

Bank of Nova Scotia's newest year against its own record: revenue of CAD 38 billion in fiscal 2025 came in 8.3% above the CAD 35 billion its prior three years' pace pointed to (top 6% of its family); net income of CAD 7.8 billion against a prior three-year average of CAD 8.5 billion (bottom 18%); a net margin of 20.6% against 26.3% before (bottom 29%) (its annual reports).

What it rests on

revenue against the prior three years' pace8.3%top 6% of its family
net income against the prior three years' average-9%bottom 18% of its family
net margin against its prior average-5.8 pointsbottom 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BNS · research, not advice