1. Use the template to do the ratio analysis. Note

1. Use the template to do the ratio analysis. Note that the template is only for two years.

2. Choose a public company and get the most recent five years of financial statements

3. Do the financial ratio analysis using these five years of info. Note that you might need to compress (add) some of the items together to get to the format used in the template.

4. Comment on the change of each ratio, using year to year change. If you don’t know what it is, Google it.

5. At the end, make a final recommendation as to invest in this company. Why and Why not. Note: no more than one page in writing on this recommendation.

Fiscal year is November-October. All values CAD millions. 2015 2016 2017 2018 2019 5-year trend
Interest Income 22.73B 24.45B 26.9B 33.02B 41.33B
Interest and Fees on Loans 16.88B 17.88B 18.68B 21.25B 24.86B
Interest Income on Fed. Funds 1.25B 1.82B 3.02B 5.54B 8.96B
Interest Income on Fed. Repos
Interest on Bank Deposits 77M 167M 307M 566M 683M
Other Interest or Dividend Income 4.52B 4.59B 4.9B 5.67B 6.83B
Total Interest Expense 7.96B 7.92B 9.76B 15.07B 21.58B
Interest Expense on Bank Deposits 5.72B 5.47B 6.56B 9.84B 12.99B
Other Interest Expense 2.24B 2.45B 3.2B 5.23B 8.6B
Interest Expense on Debt 240M 227M 270M 322M 365M
Interest Capitalized
Other Borrowed Funds 2B 2.23B 2.93B 4.91B 8.23B
2015 2016 2017 2018 2019 5-year trend
Net Interest Income 14.77B 16.53B 17.14B 17.95B 19.75B
Loan Loss Provision 1.1B 1.55B 1.15B 1.31B 1.86B
Net Interest Income after Provision 13.67B 14.99B 15.99B 16.65B 17.89B
Non-Interest Income 21.01B 21.78B 23.25B 23.51B 25.19B
Securities Gain 198M 162M 224M 147M 125M
Trading Account Income 552M 701M 806M 1.15B 995M
Trust Income, Commissions & Fees 13.55B 14.32B 15.79B 16.6B 16.74B
Commission & Fee Income 13.55B 11.43B 7.65B 7.67B 7.37B
Other Operating Income 5.89B 5.64B 5.46B 5.61B 7.33B
Non-Interest Expense 22.04B 23.56B 24.85B 25.51B 28.22B
Labor & Related Expense 11.58B 12.2B 13.33B 13.78B 14.6B
Equipment Expense 2.69B 3.01B 3.02B 3.15B 3.41B
Other Operating Expense 6.69B 7.78B 7.9B 8.01B 9.59B
Operating Income 12.64B 13.21B 14.39B 14.64B 14.85B
Non-Operating Income (Expense) (19M) 1.1B 986M
Non-Operating Interest Income
Miscellaneous Non Operating Expense (19M) 1.1B 986M
Equity in Affiliates (Pretax)
Unusual Expense 143M 89M 52M
Pretax Income 12.47B 13.12B 14.34B 15.74B 15.84B
Income Taxes 2.6B 2.84B 3.2B 3.33B 3.04B
Income Tax – Current – Domestic 2.33B 2.93B 3.24B 3.13B 3.2B
Income Tax – Current – Foreign
Income Tax – Deferred – Domestic 267M (84M) (36M) 201M (156M)
Income Tax – Deferred – Foreign
Income Tax Credits
Equity in Affiliates 149M 176M 335M 21M 76M
Other After Tax Income (Expense)
Consolidated Net Income 10.03B 10.46B 11.47B 12.43B 12.87B
Minority Interest Expense 101M 53M 41M 31M 11M
Net Income 9.93B 10.41B 11.43B 12.4B 12.86B
Extraordinaries & Discontinued Operations
Extra Items & Gain/Loss Sale Of Assets
Cumulative Effect – Accounting Chg
Discontinued Operations
Net Income After Extraordinaries
Preferred Dividends 191M 294M 300M 285M 269M
Net Income Available to Common 9.73B 10.11B 11.13B 12.12B 12.59B
EPS (Basic) 6.75 6.80 7.59 8.39 8.78
Basic Shares Outstanding 1.44B 1.49B 1.47B 1.44B 1.43B
EPS (Diluted) 6.73 6.78 7.56 8.36 8.75
Diluted Shares Outstanding 1.45B 1.49B 1.47B 1.45B 1.44B

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