Laurentian Bank of Canada LB

FinancialsBanking ServicesCanada

Last close 40.43 CAD on Nov 1, 2026, +5.1% year to date

Quant rating

Quant rating C Rank 27 of 51 in Financials

Growth B 14 of 51
Valuation B 16 of 51
Quality D 40 of 51
Revisions C 31 of 51
Momentum C 24 of 51

Wall Street consensus Hold (3.00)Average target 40.33 CAD −0.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.8B
Enterprise value: 23.1B
52-week range: 32.29 – 40.78
3-year range: 24.48 – 40.78
Dividend yield: 4.65%
Beta (5 years): 1.14
Shares outstanding: 44.9M
Next earnings: Dec 4, 2026

About the company

Laurentian Bank of Canada (the Bank) is a Canada-based company. It offers a range of financial services and advice-based solutions to customers across Canada and the United States. Its Personal and Commercial Banking segment provides a range of financial services and advice-based solutions for personal and commercial banking customers across Canada and the United States. The Bank provides its personal banking customers with financial advice for their day-to-day banking, financing, protection and investing needs. Its commercial banking business specializes in four main areas: real estate financing, equipment financing and inventory financing, commercial small and mid-sized business financing, and syndication. Its products and services include bank accounts, transactional packages, term deposits, mutual funds, credit cards, unsecured credit, residential real estate secured financing and creditor protection. The Bank also provides daily banking services.

Growth and profitability fiscal year ends October 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,097	2,299	2,273	1,474	1,253	–
Revenue growth	−8.8%	1.1%	54.2%	17.6%	−11.9%	8.1%
EPS (basic, normalized)	3.02	2.77	4.37	4.99	6.41	–
EPS growth	9.0%	−36.6%	−12.4%	−22.1%	138.1%	2.3%
Gross margin	–	–	–	–	–	–
Net margin	6.0%	−0.8%	7.4%	14.6%	3.6%	6.2%
ROE	4.7%	6.1%	6.6%	7.8%	7.6%	6.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	12.4%
Long-term debt (mil)	14,134
Net debt (mil)	–
Total equity (mil)	2,748
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	2,097	−8.8%	11.0x	59.13	+2.0%	0.7x	3.00	−16.0%	13.5x
2026	967	−53.9%	23.9x	56.11	−5.1%	0.7x	2.44	−18.5%	16.5x
2027	997	+3.1%	23.1x	57.25	+2.0%	0.7x	2.83	+15.5%	14.3x
2028	1,022	+2.5%	22.6x	57.28	+0.1%	0.7x	2.62	−7.3%	15.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	967	0.0%	+0.1%	−2.5%	2.44	0.0%	−3.9%	−17.2%
2027	997	0.0%	+0.8%	−0.8%	2.83	0.0%	−3.7%	−9.4%
2028	1,022	0.0%	–	–	2.62	0.0%	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	253	256	251	249	243	247	245	252	236	242
Sales mean (mil)	251	255	250	245	245	248	249	248	243	248
Surprise	+0.7%	+0.6%	+0.2%	+1.5%	−0.9%	−0.5%	−1.6%	+1.5%	−2.9%	−2.4%
EPS reported	0.90	0.88	0.89	0.78	0.73	0.78	0.73	0.65	0.46	0.51
EPS mean	0.88	0.86	0.87	0.76	0.71	0.73	0.78	0.72	0.69	0.63
Surprise	+1.8%	+2.6%	+2.8%	+2.2%	+2.2%	+7.5%	−6.8%	−9.9%	−33.5%	−18.6%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
LB Laurentian Bank of Canada	1.8B	12.4%	6.0%	0.67x	16.5x	14.3x	0.7x	0.7x
IDCBY Industrial and Commercial Bank of China Ltd	617.6B	–	–	–	130.8x	124.4x	11.6x	10.9x
TD The Toronto-Dominion Bank	286.3B	16.1%	22.8%	1.37x	17.2x	15.5x	2.6x	2.5x
CMWAY Commonwealth Bank of Australia	274.4B	–	–	–	25.7x	24.8x	–	–
DBSDY DBS Group Holdings Ltd	227.3B	–	–	–	17.1x	15.6x	–	–
UNCRY Unicredit, SpA	172.2B	–	39.8%	1.01x	9.8x	8.5x	–	–
Mean		14.3%	22.8%	1.02x	36.2x	33.9x	5.0x	4.7x
Median		14.3%	22.8%	1.01x	17.1x	15.6x	2.6x	2.5x

Technical analysis

1M+0.6%
3M+1.5%
1Y+30.0%
3Y+91.4%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Laurentian Bank of Canada, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	2,097	2,299	2,273	1,474	1,253	1,422
Total interest expense	1,360	1,579	1,527	741	561	740
Net interest income	737	720	746	733	692	682
Loan loss provision	61.0	61.6	61.6	56.9	49.5	116
Net interest income after loan loss provision	676	658	685	676	643	566
Non-interest income	247	299	279	301	310	289
Non-interest expense	−750	−979	−753	−702	−880	−734
Net income before taxes	173	−22.2	210	276	72.6	120
Provision for taxes	32.7	−16.7	29.3	49.1	15.5	6.2
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	140	−5.5	181	227	57.1	114
Extraordinary items	–	–	–	–	–	–
Net income	140	−5.5	181	227	57.1	114
Basic weighted average shares (mil)	44.2	43.8	43.5	43.3	43.4	42.9
Diluted weighted average shares (mil)	44.3	43.8	43.5	43.4	43.4	42.9
Basic EPS excluding extraordinary items	2.84	−0.41	3.89	4.96	1.03	2.37
Basic EPS, normalized	3.02	2.77	4.37	4.99	6.41	2.69

Balance sheet in millions of CAD, fiscal years

Balance sheet, Laurentian Bank of Canada, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	57.8	133	129	140	108	134
Other earning assets	13,350	11,307	11,783	12,192	10,516	9,873
Net loans	35,838	35,069	36,853	37,288	33,450	33,020
Property, plant & equipment	83.6	82.6	113	121	101	200
Goodwill	–	0	84.8	83.7	78.4	117
Intangibles	182	181	283	294	278	380
Long-term investments	–	–	–	–	–	–
Other long-term assets	178	186	147	110	83.1	62.2
Other assets	459	441	499	488	463	381
Total assets	50,148	47,401	49,893	50,717	45,077	44,168
Liabilities
Accounts payable	680	610	515	386	364	472
Payable/accrued	499	461	567	561	956	654
Accrued expenses	–	–	–	–	–	–
Total deposits	23,999	23,164	26,027	27,132	22,988	23,920
Other bearing liabilities	–	0	15.0	99.8	–	0
Short-term borrowings	4,019	3,875	3,348	3,833	5,877	4,929
Current portion of long-term debt	2,907	2,532	1,608	1,395	1,959	1,916
Long-term debt	14,730	13,453	14,060	13,577	9,913	9,283
Minority interest	–	–	–	–	–	–
Other liabilities	433	478	894	952	380	383
Total liabilities	47,266	44,573	47,035	47,936	42,436	41,556
Shareholders' equity
Preferred stock	122	122	122	122	122	244
Common stock	1,206	1,187	1,178	1,168	1,173	1,159
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	1,352	1,308	1,407	1,322	1,195	1,153
Treasury stock	–	–	–	–	–	–
Other equity	202	212	152	169	151	54.7
Total equity	2,882	2,828	2,859	2,781	2,641	2,611
Total liabilities & shareholders' equity	50,148	47,401	49,893	50,717	45,077	44,168

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Laurentian Bank of Canada, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	140	−5.5	181	227	57.1	114
Depreciation, depletion & amortization	46.3	57.7	60.0	52.5	61.5	65.6
Deferred taxes	−3.4	−74.3	−18.6	−6.5	−22.1	−17.9
Non-cash items	3.1	201	3.4	3.9	163	–
Changes in working capital	196	20.2	−804	620	−166	537
Cash from operations	382	199	−578	897	93.7	699
Investing activities
Capital expenditures	−39.9	−37.0	−38.7	−63.0	−28.1	−41.2
Other investing cash flows	−247	−24.4	704	−696	11.5	−559
Cash from investing	−287	−61.4	665	−759	−16.6	−600
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−88.0	−85.5	−83.1	−92.7	−52.7	−106
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−6.3	−29.0	−14.0	−48.0	−21.1	−17.0
Cash from financing	−94.2	−114	−97.1	−141	−73.8	−123
Foreign exchange effects	3.7	2.1	1.8	13.6	−3.9	3.5
Net change in cash	4.5	25.0	−8.0	10.7	−0.7	−21.0
Free cash flow	342	162	−617	834	65.6	657

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.