Bank of Montreal (BULZ) stock analysis
Close on Oct 30, 2026Market cap $121.32BP/E 19.5Yield –
StockData Score
Prices as of Oct 30, 2026How the score works
Weak1 of 30 checks passed
Bank of Montreal passes 1 of the 30 checks behind our score; 18 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 0/6
- Past performance
- 1/6
- Financial health
- 0/6
- Dividend
- 0/6
What stands out
Earnings grew over 5 years
Net income grew 11.3% a year on average over the last five fiscal years.
What to watch
Return on equity under 15%
Return on equity was 10.6% over the last twelve months and averaged 11.1% over five years; we look for 15% on both.
Revenue growing under 10% a year
Revenue grew 2.5% a year over the last three fiscal years, short of the 10% we look for.
EPS growing under 10% a year
Diluted EPS grew -17.0% a year over the last three fiscal years.
Earnings growth not accelerating
Net income grew 4.9% over the last twelve months, against a 5-year average of 11.3% a year.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
P/S against the industry
Not enough revenue data to compare.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth0/6
Revenue growing under 10% a year
Revenue grew 2.5% a year over the last three fiscal years, short of the 10% we look for.
EPS growing under 10% a year
Diluted EPS grew -17.0% a year over the last three fiscal years.
Earnings growth not accelerating
Net income grew 4.9% over the last twelve months, against a 5-year average of 11.3% a year.
Growing slower than the industry
Revenue grew 7.6% over the last twelve months; the Commercial Banks median is 11.4%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
Banks and insurers do not report gross profit.
Past performance1/6
Return on equity under 15%
Return on equity was 10.6% over the last twelve months and averaged 11.1% over five years; we look for 15% on both.
Return on assets under 1%
Return on assets was 0.6%; for a bank or insurer, 1% or more is considered good.
Return on equity below the industry
Bank of Montreal's return on equity of 10.6% is below the Commercial Banks median of 11.2%.
Earnings grew over 5 years
Net income grew 11.3% a year on average over the last five fiscal years.
Net margin below its 5-year average
Net margin was 23.7% over the last twelve months, against a 5-year average of 26.0%.
Net margin below the industry
Bank of Montreal's net margin of 23.7% is below the Commercial Banks median of 30.0%.
Financial health0/6
Thin capital
Equity is 5.6% of total assets; 8% or more is a comfortable cushion.
Loans funded by deposits
Needs loans and deposits.
Adequate loan-loss reserve
The allowance for credit losses is not reported.
Efficient operations
Needs non-interest expense and revenue.
Deposits growing
Needs deposits a year ago.
Borrowings
Needs debt and equity figures.
Dividend0/6
No dividend
Bank of Montreal has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Bank of Montreal. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $127.54M
- Value traded per 1% price move
- $106.00M
Downside
Low risk
- Typical loss in a bad month
- 7.7%
- Volatility (annualized)
- 21%
- Sharpe ratio, 1 year
- 1.52
- Beta to the S&P 500 (5Y)
- 0.82
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.6% | +2.5% | +7.6% | – | |
| Net income | +19.0% | -13.7% | +11.3% | – | |
| EPS, diluted | +20.3% | -17.0% | +8.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 10.1% | |
| Return on assets | – | 0.6% | 0.6% | |
| Capex to revenue | 1.1% | 1.6% | – | |
| Diluted shares | 646M | 642M | 723M |
Cash use needs five years of cash flow figures
Bank of Montreal does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 24.0% | 0.03× | 16.75× | 10.1% |
| FY2024 | 22.3% | 0.02× | 17.19× | 9.1% |
| FY2023 | 15.1% | 0.02× | 16.90× | 6.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zeroC$8.71B
- Cash generatingOperating cash flow above zeroC$10.24B
- Return on assets improvedROA up on the prior year0.5% → 0.6%
- Earnings backed by cashOperating cash flow above net incomeC$10.24B vs C$8.71B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise729M → 723M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.02 → 0.03