MUFG vs TD: Mitsubishi UFJ Financial Group Inc ADR and Toronto Dominion Bank compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Mitsubishi UFJ Financial Group Inc ADR is the larger company, worth $264.0B, about 1.3 times Toronto Dominion Bank.
- Toronto Dominion Bank grew revenue faster over the last year (+18.1% vs +10.8%).
- On earnings, Toronto Dominion Bank is the cheaper stock (13.2x vs 17.5x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MUFG | TD |
|---|---|---|
| Market cap | $264.0B | $198.5B |
| Share price | $22.38 | $115.10 |
| Revenue (last fiscal year) | $2.42T | $67.8B |
| Free cash flow (last fiscal year) | -$3.67T | — |
| Revenue growth, last year | +10.8% | +18.1% |
| Revenue growth per year, last 5 fiscal years | +9.9% | +12.2% |
| Operating margin | 97.7% | — |
| Net margin | 71.4% | 31.0% |
| Return on equity | 8.8% | 17.4% |
| P/E (trailing) | 17.5x | 13.2x |
| Price / free cash flow | 0.04x | — |
| EV / EBITDA | — | — |
| FCF growth the price implies | — | — |
| Dividend yield | 2.1% | 3.6% |
| Debt / equity | 20.7x | 15.7x |
| Fundamental grade | C | C |
| Superinvestors holding it | 4 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Mitsubishi UFJ Financial Group Inc ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $1.66T | $806.4B | 74.3% |
| 2023 | $1.70T | $1.89T | 92.5% |
| 2024 | $1.91T | -$1.90T | 95.9% |
| 2025 | $2.19T | $897.1B | 71.6% |
| 2026 | $2.42T | -$3.67T | 97.7% |
Toronto Dominion Bank
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $42.7B | — | — |
| 2022 | $49.0B | — | — |
| 2023 | $50.7B | — | — |
| 2024 | $57.2B | — | — |
| 2025 | $67.8B | — | — |
Where the revenue comes from
Mitsubishi UFJ Financial Group Inc ADR · by segments, 2021
Toronto Dominion Bank · by segments, 2025
Questions
Which is bigger, Mitsubishi UFJ Financial Group Inc ADR or Toronto Dominion Bank?
Mitsubishi UFJ Financial Group Inc ADR (MUFG), at $264.0B against $198.5B.
Is MUFG or TD cheaper?
By trailing P/E, Toronto Dominion Bank (13.2x) is cheaper than Mitsubishi UFJ Financial Group Inc ADR (17.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, MUFG or TD?
Toronto Dominion Bank: revenue grew +18.1% over the last year, against +10.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.