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Operates Equitable Bank, a Canadian challenger bank offering mortgages, commercial lending and digital EQ Bank accounts.
Operates Equitable Bank, a Canadian challenger bank offering mortgages, commercial lending and digital EQ Bank accounts.
Earns the spread between what it pays on deposits, raised online and through brokers, and what it charges on mortgages and commercial loans, including to borrowers that larger banks decline. With no branches, it depends on mortgage brokers to find borrowers and keeps costs low.
Moat: narrow (cost advantage, brand). No-branch digital model lowers costs, funding an aggressive high-rate EQ Bank deposit franchise.
Headquarters: Toronto, Canada · Founded: 1970
Size EQB (EQB.TO) is a Canada Financials company (Regional Banks) with a market value of $3.79B, the 142nd largest of 420 Canada companies the cockpit tracks. Shares closed at C$124.83 on 6 Nov 2026.
Performance Over six months the shares gained 2.8%, against +6.6% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 3.8% over the last twelve months (peer median +13.6%); the operating margin is 1.3% (peer median 43.7%).
Valuation It trades at 1.44× book value against a peer median of 1.22× (6th most expensive of 21).
Price implies The share price implies a return on equity of about 12.8%; EQB delivers -0.1%, so the price asks more than the business earns today.
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$3.02B | C$3.08B | C$3.33B | C$3.05B | C$1.65B |
| Revenue growth | — | -8% | +9% | +85% | — |
| Net income | -C$2.45M | C$265M | C$401M | C$446M | C$270M |
| Free cash flow | C$607M | C$555M | C$559M | C$561M | C$256M |
| Capital expenditure | C$96.4M | C$84.9M | C$67.4M | C$35.0M | C$76.6M |
| Total debt | C$14.9B | C$13.0B | C$15.8B | C$17.4B | C$16.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| EQB EQB.TO | $3.79B | +3% | -4% | 0% | 1.44× | 12.8% |
| Laurentian Bank of Canada LB.TO | n/a | 0% | n/a | n/a | n/a | n/a |
| MCAN Mortgage MKP.TO | $635M | -13% | +14% | 13% | 1.33× | 8.4% |
| National Bank of Canada NA.TO | $59.3B | +4% | +8% | 14% | 2.62× | 20.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EQB.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.1% | +1.4% | 6th highest of 21 |
| 6-month return | +2.8% | +6.6% | 8th lowest of 21 |
| Return on equity | -0.1% | 9.4% | 2nd lowest of 21 |
| Price / book | 1.44× | 1.22× | 6th most expensive of 21 |
| ROE the price implies | 12.8% | 9.5% | 5th most demanding of 20 |
| ROE delivered | -0.1% | 9.5% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| EQB EQB.TO | Canada | $3.79B | +3% | -4% | 0% | 1.44× | 12.8% | -0.1% |
| Karur Vysya Bank KARURVYSYA.NS | India | $3.80B | +18% | +14% | 21% | 2.32× | 30.7% | 21.0% |
| Chugin Financial Group,Inc 5832.T | Japan | $3.76B | +10% | +34% | 8% | 0.86× | 6.5% | 8.3% |
| BancFirst BANF | United States | $3.87B | +2% | -3% | 14% | 1.94× | 12.7% | 13.6% |
| WesBanco WSBC | United States | $3.70B | +13% | +17% | 9% | 0.96× | 8.2% | 8.8% |
| Hirogin 7337.T | Japan | $3.89B | +9% | +26% | 8% | 0.99× | 7.4% | 8.2% |
| First Bancorp FBP | United States | $3.92B | +8% | +3% | 19% | 2.09× | 15.7% | 19.4% |
| Independent Bank INDB | United States | $3.94B | +8% | +25% | 9% | 1.14× | 9.5% | 9.3% |
| CVB Financial CVBF | United States | $3.99B | +12% | +23% | 9% | 1.27× | 9.8% | 8.6% |
| Twenty One Capital XXI | United States | $3.57B | -36% | n/a | -12% | 1.38× | 7.6% | n/a |
| Zuger Kantonalbank ZUGER.SW | Switzerland | $4.04B | +8% | -10% | 8% | 2.03× | n/a | 8.3% |
| Renasant RNST | United States | $3.55B | -2% | +20% | 9% | 0.93× | 9.5% | 8.7% |
| Yamaguchi Financial 8418.T | Japan | $3.54B | +6% | +19% | 6% | 0.84× | 5.8% | 5.7% |
| Bank Handlowy w Warszawie BHW.WA | Poland | $4.09B | +7% | -22% | 17% | 1.72× | 17.1% | 16.7% |
| First Interstate BancSystem FIBK | United States | $3.50B | +4% | -4% | 10% | 1.12× | 9.0% | 9.5% |
| Jiangsu Changshu Rural Commercial Bank 601128.SS | China | $3.48B | -4% | -1% | 14% | 0.67× | 2.5% | 13.8% |
| Nishi-Nippon Financial 7189.T | Japan | $3.47B | +3% | +28% | 8% | 0.88× | 6.9% | 7.8% |
| First Financial Bancorp FFBC | United States | $3.43B | +6% | +13% | 11% | 1.19× | 10.9% | 10.7% |
| International Bancshares IBOC | United States | $4.20B | -8% | +2% | 13% | 1.25× | 9.8% | 12.9% |
| Mechanics Bancorp MCHB | United States | $3.41B | -1% | +131% | 10% | 1.33× | 14.8% | 10.2% |
| Cathay General Bancorp CATY | United States | $4.24B | +12% | +3% | 12% | 1.39× | 11.8% | 12.2% |