Side by sideRBC (RY.TO) and TD (TD.TO)Memos of October 22, 2026 and October 21, 2026
RBC vs TD stock: the numbers side by side (October 2026)
How do RBC and TD compare?
| RBC RY.TO | TD TD.TO | |
|---|---|---|
| Revenue growth | 16.1%Oct 2025 | 18.4%Oct 2025 |
| Net interest margin | 1.6%Oct 2025 | 1.8%Oct 2025 |
| Efficiency ratio (lower is leaner) | 54.9%Oct 2025 | 49.5%Oct 2025 |
| Return on equity | 16.3%Oct 2025 | 17.8%Oct 2025 |
| CET1 capital ratio | 13.5%Oct 2025 | 14.7%Oct 2025 |
| Dividend yield | 2.5%Today (Oct 22, 2026) | 2.6%Today (Oct 21, 2026) |
| P/E, last 12 months | 17.9xToday (Oct 22, 2026) | 18.4xToday (Oct 21, 2026) |
| P/E, next 12 months | 17.3xToday (Oct 22, 2026) | 17.0xToday (Oct 21, 2026) |
| Weighted price forecast, about 1 year | 274.86 (-1 %)October 2027 | 161.01 (-4 %)October 2027 |
| Weighted price forecast, about 3 years | 278.46 (+6 %)October 2029 | 172.24 (+8 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | TD | The higher figure |
| Net interest margin | TD | The higher figure |
| Efficiency ratio (lower is leaner) | TD | The lower figure |
| Return on equity | TD | The higher figure |
| CET1 capital ratio | TD | The higher figure |
| Dividend yield | TD | The higher figure |
| P/E, last 12 months | RBC | The lower figure |
| P/E, next 12 months | TD | The lower figure |
| Weighted price forecast, about 1 year | RBC | The higher weighted return |
| Weighted price forecast, about 3 years | TD | The higher weighted return |
What does each company do?
Royal Bank of Canada (RBC) is a diversified financial-services group serving households, businesses and institutions across Canada, the United States and international markets.
RBC (RY.TO), from our memo of October 22, 2026 · RBC stock forecast
Toronto-Dominion Bank sells everyday banking, mortgages, cards, business finance, wealth services, insurance and capital-markets services—helping companies and governments raise money and trade investments—to households, businesses and institutions across North America.
TD (TD.TO), from our memo of October 21, 2026 · TD stock forecast