Bank Of Nova Stock Z Score

BNS Stock  USD 51.16  0.76  1.51%   
Altman Z Score is one of the simplest fundamental models to determine how likely your company is to fail. The module uses available fundamental data of a given equity to approximate the Altman Z score. Altman Z Score is determined by evaluating five fundamental price points available from the company's current public disclosure documents. Check out Bank of Nova Scotia Piotroski F Score and Bank of Nova Scotia Valuation analysis.
  
At this time, Bank of Nova Scotia's Capital Lease Obligations is comparatively stable compared to the past year. Net Invested Capital is likely to gain to about 458.2 B in 2024, whereas Capital Expenditures is likely to drop slightly above 1.3 B in 2024. At this time, Bank of Nova Scotia's Depreciation And Amortization is comparatively stable compared to the past year. Selling General Administrative is likely to gain to about 28.9 B in 2024, whereas Total Revenue is likely to drop slightly above 20.9 B in 2024.

Bank Z Score Analysis

Bank of Nova Scotia's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
 2020 2021 2022 2024 (projected)
Capital Expenditures462M571M442M1.3B
Dividends Paid4.6B5.1B5.4B2.5B

Z Score

 = 

Sum Of

5 Factors

More About Z Score | All Equity Analysis

Current Bank of Nova Scotia Z Score

    
  0.22  
Most of Bank of Nova Scotia's fundamental indicators, such as Z Score, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Bank Of Nova is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

First Factor

 = 

1.2 * (

Working Capital

/

Total Assets )

Second Factor

 = 

1.4 * (

Retained Earnings

/

Total Assets )

Thrid Factor

 = 

3.3 * (

EBITAD

/

Total Assets )

Fouth Factor

 = 

0.6 * (

Market Value of Equity

/

Total Liabilities )

Fifth Factor

 = 

0.99 * (

Revenue

/

Total Assets )

Bank Z Score Driver Correlations

Understanding the fundamental principles of building solid financial models for Bank of Nova Scotia is extremely important. It helps to project a fair market value of Bank Stock properly, considering its historical fundamentals such as Z Score. Since Bank of Nova Scotia's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Bank of Nova Scotia's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Bank of Nova Scotia's interrelated accounts and indicators.
0.910.520.880.140.810.250.71.00.850.94-0.06-0.30.950.80.290.420.810.430.70.890.77-0.83-0.010.690.770.440.45
0.910.370.980.450.520.520.630.90.720.790.210.050.80.90.520.140.730.670.620.650.48-0.70.00.560.660.330.41
0.520.370.390.190.390.320.030.520.650.54-0.17-0.080.550.520.43-0.020.670.330.610.420.32-0.6-0.610.790.790.930.88
0.880.980.390.430.50.50.530.870.750.770.260.040.760.860.520.130.760.640.640.60.45-0.690.050.570.670.330.45
0.140.450.190.43-0.460.98-0.010.120.05-0.030.520.890.030.70.92-0.810.190.950.23-0.27-0.51-0.14-0.550.040.130.290.28
0.810.520.390.5-0.46-0.350.630.820.720.86-0.39-0.80.840.3-0.270.840.6-0.170.510.970.99-0.660.250.60.610.270.25
0.250.520.320.50.98-0.350.040.230.20.080.480.830.140.780.95-0.750.350.970.34-0.16-0.41-0.29-0.60.160.260.420.4
0.70.630.030.53-0.010.630.040.70.560.59-0.26-0.280.620.51-0.080.510.480.240.180.750.67-0.640.030.370.490.030.07
1.00.90.520.870.120.820.230.70.850.94-0.07-0.320.960.790.280.440.810.410.710.90.78-0.83-0.010.70.770.450.45
0.850.720.650.750.050.720.20.560.850.8-0.13-0.310.790.640.220.40.970.310.640.770.69-0.95-0.160.80.910.590.66
0.940.790.540.77-0.030.860.080.590.940.8-0.13-0.470.920.640.180.540.780.250.680.890.82-0.790.060.620.70.460.42
-0.060.21-0.170.260.52-0.390.48-0.26-0.07-0.13-0.130.53-0.180.240.52-0.49-0.050.430.12-0.36-0.440.180.07-0.19-0.19-0.08-0.02
-0.30.05-0.080.040.89-0.80.83-0.28-0.32-0.31-0.470.53-0.390.330.73-0.95-0.170.72-0.11-0.64-0.820.23-0.49-0.25-0.20.040.06
0.950.80.550.760.030.840.140.620.960.790.92-0.18-0.390.710.190.470.760.320.680.920.81-0.8-0.040.680.740.450.4
0.80.90.520.860.70.30.780.510.790.640.640.240.330.710.76-0.190.70.880.630.490.25-0.7-0.40.520.640.520.5
0.290.520.430.520.92-0.270.95-0.080.280.220.180.520.730.190.76-0.70.380.910.55-0.13-0.36-0.25-0.540.230.270.540.48
0.420.14-0.020.13-0.810.84-0.750.510.440.40.54-0.49-0.950.47-0.19-0.70.26-0.60.10.730.88-0.330.560.290.28-0.13-0.08
0.810.730.670.760.190.60.350.480.810.970.78-0.05-0.170.760.70.380.260.430.70.660.56-0.94-0.270.780.90.680.72
0.430.670.330.640.95-0.170.970.240.410.310.250.430.720.320.880.91-0.60.430.40.04-0.23-0.41-0.540.240.360.40.39
0.70.620.610.640.230.510.340.180.710.640.680.12-0.110.680.630.550.10.70.40.520.41-0.56-0.160.650.580.70.59
0.890.650.420.6-0.270.97-0.160.750.90.770.89-0.36-0.640.920.49-0.130.730.660.040.520.96-0.760.10.620.680.310.28
0.770.480.320.45-0.510.99-0.410.670.780.690.82-0.44-0.820.810.25-0.360.880.56-0.230.410.96-0.650.270.560.590.190.19
-0.83-0.7-0.6-0.69-0.14-0.66-0.29-0.64-0.83-0.95-0.790.180.23-0.8-0.7-0.25-0.33-0.94-0.41-0.56-0.76-0.650.3-0.67-0.85-0.57-0.56
-0.010.0-0.610.05-0.550.25-0.60.03-0.01-0.160.060.07-0.49-0.04-0.4-0.540.56-0.27-0.54-0.160.10.270.3-0.32-0.38-0.7-0.58
0.690.560.790.570.040.60.160.370.70.80.62-0.19-0.250.680.520.230.290.780.240.650.620.56-0.67-0.320.940.770.88
0.770.660.790.670.130.610.260.490.770.910.7-0.19-0.20.740.640.270.280.90.360.580.680.59-0.85-0.380.940.740.85
0.440.330.930.330.290.270.420.030.450.590.46-0.080.040.450.520.54-0.130.680.40.70.310.19-0.57-0.70.770.740.91
0.450.410.880.450.280.250.40.070.450.660.42-0.020.060.40.50.48-0.080.720.390.590.280.19-0.56-0.580.880.850.91
Click cells to compare fundamentals
To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
Competition

In accordance with the company's disclosures, Bank Of Nova has a Z Score of 0.22. This is 90.87% lower than that of the Banks sector and significantly higher than that of the Financials industry. The z score for all United States stocks is 97.48% higher than that of the company.

Bank Z Score Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Bank of Nova Scotia's direct or indirect competition against its Z Score to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Bank of Nova Scotia could also be used in its relative valuation, which is a method of valuing Bank of Nova Scotia by comparing valuation metrics of similar companies.
Bank of Nova Scotia is currently under evaluation in z score category among related companies.

Bank of Nova Scotia ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Bank of Nova Scotia's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Bank of Nova Scotia's managers, analysts, and investors.
Environment Score
Governance Score
Social Score

Bank of Nova Scotia Institutional Holders

Institutional Holdings refers to the ownership stake in Bank of Nova Scotia that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Bank of Nova Scotia's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Bank of Nova Scotia's value.
Shares
Jarislowsky Fraser Ltd2023-12-31
13.2 M
Healthcare Of Ontario Pension Plan Trust Fund2023-12-31
12.4 M
Legal & General Group Plc2023-12-31
9.3 M
Connor Clark & Lunn Inv Mgmt Ltd2023-12-31
8.8 M
Cibc Global Asset Management Inc2023-12-31
8.7 M
Goldman Sachs Group Inc2023-12-31
7.2 M
Jpmorgan Chase & Co2023-12-31
5.7 M
Dimensional Fund Advisors, Inc.2023-12-31
5.6 M
Amundi2023-12-31
4.8 M
Royal Bank Of Canada2023-12-31
102.5 M
Bank Of Montreal2023-12-31
72 M

Bank Fundamentals

About Bank of Nova Scotia Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Bank Of Nova's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Bank of Nova Scotia using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Bank Of Nova based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. The Bank of Nova Scotia was founded in 1832 and is headquartered in Halifax, Canada. Bank of Nova Scotia is traded on New York Stock Exchange in the United States.

Bank of Nova Scotia Investors Sentiment

The influence of Bank of Nova Scotia's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Bank. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Bank of Nova Scotia's public news can be used to forecast risks associated with an investment in Bank. The trend in average sentiment can be used to explain how an investor holding Bank can time the market purely based on public headlines and social activities around Bank Of Nova. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Bank of Nova Scotia's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Bank of Nova Scotia's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Bank of Nova Scotia's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Bank of Nova Scotia.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Bank of Nova Scotia in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Bank of Nova Scotia's short interest history, or implied volatility extrapolated from Bank of Nova Scotia options trading.

Pair Trading with Bank of Nova Scotia

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bank of Nova Scotia position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bank of Nova Scotia will appreciate offsetting losses from the drop in the long position's value.

Moving together with Bank Stock

  0.82C Citigroup Aggressive PushPairCorr
  0.91CM Canadian Imperial Bank Financial Report 23rd of May 2024 PairCorr
  0.81NU Nu Holdings Financial Report 20th of May 2024 PairCorr
The ability to find closely correlated positions to Bank of Nova Scotia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Nova Scotia when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bank of Nova Scotia - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bank Of Nova to buy it.
The correlation of Bank of Nova Scotia is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank of Nova Scotia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of Nova Scotia moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bank of Nova Scotia can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Bank of Nova Scotia is a strong investment it is important to analyze Bank of Nova Scotia's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Bank of Nova Scotia's future performance. For an informed investment choice regarding Bank Stock, refer to the following important reports:
Check out Bank of Nova Scotia Piotroski F Score and Bank of Nova Scotia Valuation analysis.
You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.

Complementary Tools for Bank Stock analysis

When running Bank of Nova Scotia's price analysis, check to measure Bank of Nova Scotia's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bank of Nova Scotia is operating at the current time. Most of Bank of Nova Scotia's value examination focuses on studying past and present price action to predict the probability of Bank of Nova Scotia's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bank of Nova Scotia's price. Additionally, you may evaluate how the addition of Bank of Nova Scotia to your portfolios can decrease your overall portfolio volatility.
Price Ceiling Movement
Calculate and plot Price Ceiling Movement for different equity instruments
Positions Ratings
Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance
Equity Forecasting
Use basic forecasting models to generate price predictions and determine price momentum
Top Crypto Exchanges
Search and analyze digital assets across top global cryptocurrency exchanges
AI Investment Finder
Use AI to screen and filter profitable investment opportunities
Portfolio Holdings
Check your current holdings and cash postion to detemine if your portfolio needs rebalancing
Commodity Directory
Find actively traded commodities issued by global exchanges
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Stock Screener
Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Money Managers
Screen money managers from public funds and ETFs managed around the world
Is Bank of Nova Scotia's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Bank of Nova Scotia. If investors know Bank will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Bank of Nova Scotia listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.246
Dividend Share
4.21
Earnings Share
4.49
Revenue Per Share
24.448
Quarterly Revenue Growth
0.02
The market value of Bank of Nova Scotia is measured differently than its book value, which is the value of Bank that is recorded on the company's balance sheet. Investors also form their own opinion of Bank of Nova Scotia's value that differs from its market value or its book value, called intrinsic value, which is Bank of Nova Scotia's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bank of Nova Scotia's market value can be influenced by many factors that don't directly affect Bank of Nova Scotia's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bank of Nova Scotia's value and its price as these two are different measures arrived at by different means. Investors typically determine if Bank of Nova Scotia is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bank of Nova Scotia's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.