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Fair value181.54Plus-5%136Price 172.86227
Q4 FY2026 · Earnings report
EPS estimate 2.68Revenue estimate 7.11B
Q4 FY2026 · Earnings report
EPS estimate 2.68Revenue estimate 7.11B
Bank of Montreal total debt 1994–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Bank of Montreal's total debt was 167.42B CAD on 31 July 2026, down 57.5% on a year before. At the end of fiscal year 2025 it was 415.20B CAD.
Last updated 12 Nov 2026 · Next report 2 Dec 2026
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 31 Jul 2026 | 167.42B | -57.51% | 415.73B | 248.30B | 1.93 |
| FY2025 | 31 Oct 2025 | 415.20B | +11.24% | 104.16B | -311.04B | 4.72 |
| FY2024 | 31 Oct 2024 | 373.23B | +5.18% | 113.53B | -259.70B | 4.43 |
| FY2023 | 31 Oct 2023 | 354.84B | +8.65% | 144.86B | -209.98B | 4.66 |
| FY2022 | 31 Oct 2022 | 326.60B | +13.66% | 136.76B | -189.84B | 4.60 |
| FY2021 | 31 Oct 2021 | 287.36B | +4.24% | 164.69B | -122.68B | 5.00 |
| FY2020 | 31 Oct 2020 | 275.67B | -2.17% | 139.85B | -135.82B | 4.87 |
| FY2019 | 31 Oct 2019 | 281.79B | +22.26% | 121.31B | -160.48B | 5.52 |
| FY2018 | 31 Oct 2018 | 230.48B | +2.57% | 112.89B | -117.59B | 5.04 |
| FY2017 | 31 Oct 2017 | 224.70B | +14.09% | 93.16B | -131.53B | 5.07 |
| FY2016 | 31 Oct 2016 | 196.95B | +34.93% | 91.77B | -105.19B | 4.66 |
| FY2015 | 31 Oct 2015 | 145.97B | +117.63% | 95.68B | -50.29B | 3.70 |
| FY2014 | 31 Oct 2014 | 67.07B | +21.42% | 43.67B | -23.41B | 1.95 |
| FY2013 | 31 Oct 2013 | 55.24B | -20.30% | 44.60B | -10.65B | 1.83 |
| FY2012 | 31 Oct 2012 | 69.31B | -2.38% | 82.66B | 13.35B | 2.42 |
| FY2011 | 31 Oct 2011 | 71.00B | -9.55% | 77.08B | 6.08B | 2.69 |
| FY2010 | 31 Oct 2010 | 78.50B | +55.29% | 68.54B | -9.96B | 3.89 |
| FY2009 | 31 Oct 2009 | 50.55B | +37.33% | 63.55B | 13.00B | 2.50 |
| FY2008 | 31 Oct 2008 | 36.81B | -39.56% | 53.22B | 16.41B | 2.06 |
| FY2007 | 31 Oct 2007 | 60.90B | +75.78% | 48.90B | -12.00B | 3.98 |
| FY2006 | 31 Oct 2006 | 34.64B | +37.88% | 19.28B | -15.37B | 2.30 |
| FY2005 | 31 Oct 2005 | 25.13B | -28.89% | 20.72B | -4.41B | 1.82 |
| FY2004 | 31 Oct 2004 | 35.33B | +1.30% | 18.05B | -17.29B | 2.68 |
| FY2003 | 31 Oct 2003 | 34.88B | -3.77% | 19.86B | -15.02B | 2.79 |
| FY2002 | 31 Oct 2002 | 36.24B | +26.01% | 19.31B | -16.94B | 3.05 |
| FY2001 | 31 Oct 2001 | 28.76B | -15.44% | 17.66B | -11.10B | 2.69 |
| FY2000 | 31 Oct 2000 | 34.01B | -13.54% | 18.51B | -15.50B | 2.85 |
| FY1999 | 31 Oct 1999 | 39.34B | -7.20% | 24.04B | -15.30B | 3.58 |
| FY1998 | 31 Oct 1998 | 42.39B | +19.33% | 19.73B | -22.66B | 4.00 |
| FY1997 | 31 Oct 1997 | 35.52B | +9.13% | 32.25B | -3.28B | 3.99 |
| FY1996 | 31 Oct 1996 | 32.55B | +39.98% | 24.19B | -8.37B | 4.29 |
| FY1995 | 31 Oct 1995 | 23.26B | -2.65% | 20.32B | -2.94B | 3.31 |
| FY1994 | 31 Oct 1994 | 23.89B | — | 14.57B | -9.32B | 3.65 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 31 Jul 2026 | 167.42B | -57.51% | 415.73B | 248.30B | 1.93 |
| Q2 FY2026 | 30 Apr 2026 | 166.53B | -57.80% | 393.40B | 226.87B | 1.95 |
| Q1 FY2026 | 31 Jan 2026 | 168.46B | -57.56% | 370.09B | 201.64B | 1.97 |
| Q4 FY2025 | 31 Oct 2025 | 415.20B | +11.24% | 104.16B | -311.04B | 4.72 |
| Q3 FY2025 | 31 Jul 2025 | 394.00B | +4.00% | 169.21B | -224.79B | 4.54 |
| Q2 FY2025 | 30 Apr 2025 | 394.61B | +4.41% | 174.52B | -220.09B | 4.60 |
| Q1 FY2025 | 31 Jan 2025 | 396.92B | +13.04% | 180.06B | -216.87B | 4.53 |
| Q4 FY2024 | 31 Oct 2024 | 373.23B | +5.18% | 113.53B | -259.70B | 4.43 |
| Q3 FY2024 | 31 Jul 2024 | 378.84B | +13.19% | 159.78B | -219.06B | 4.57 |
| Q2 FY2024 | 30 Apr 2024 | 377.93B | +12.13% | 154.56B | -223.37B | 4.75 |
| Q1 FY2024 | 31 Jan 2024 | 351.15B | +0.44% | 148.36B | -202.79B | 4.55 |
| Q4 FY2023 | 31 Oct 2023 | 354.84B | +8.65% | 144.86B | -209.98B | 4.66 |
| Q3 FY2023 | 31 Jul 2023 | 334.70B | -6.99% | 139.75B | -194.95B | 4.51 |
| Q2 FY2023 | 30 Apr 2023 | 337.04B | +11.28% | 130.29B | -206.75B | 4.43 |
| Q1 FY2023 | 31 Jan 2023 | 349.60B | +15.33% | 156.79B | -192.81B | 4.67 |
| Q4 FY2022 | 31 Oct 2022 | 326.60B | +13.66% | 136.76B | -189.84B | 4.60 |
| Q3 FY2022 | 31 Jul 2022 | 359.85B | +29.42% | 116.18B | -243.67B | 5.37 |
| Q2 FY2022 | 30 Apr 2022 | 302.89B | +14.46% | 115.87B | -187.02B | 4.62 |
| Q1 FY2022 | 31 Jan 2022 | 303.13B | +4.41% | 101.77B | -201.36B | 5.07 |
| Q4 FY2021 | 31 Oct 2021 | 287.36B | +4.24% | 164.69B | -122.68B | 5.00 |
| Q3 FY2021 | 31 Jul 2021 | 278.04B | -1.78% | 157.17B | -120.87B | 4.82 |
| Q2 FY2021 | 30 Apr 2021 | 264.62B | -13.23% | 168.72B | -95.90B | 4.77 |
| Q1 FY2021 | 31 Jan 2021 | 290.32B | +0.24% | 152.04B | -138.28B | 5.17 |
| Q4 FY2020 | 31 Oct 2020 | 275.67B | -2.17% | 139.85B | -135.82B | 4.87 |
| Q3 FY2020 | 31 Jul 2020 | 283.07B | -1.70% | 163.45B | -119.62B | 5.19 |
| Q2 FY2020 | 30 Apr 2020 | 304.96B | +14.03% | 153.76B | -151.20B | 5.52 |
| Q1 FY2020 | 31 Jan 2020 | 289.62B | +4.20% | 126.99B | -162.63B | 5.55 |
| Q4 FY2019 | 31 Oct 2019 | 281.79B | +22.26% | 121.31B | -160.48B | 5.52 |
| Q3 FY2019 | 31 Jul 2019 | 287.96B | +155.66% | 113.27B | -174.69B | 5.69 |
| Q2 FY2019 | 30 Apr 2019 | 267.43B | +147.68% | 112.03B | -155.41B | 5.41 |
| Q1 FY2019 | 31 Jan 2019 | 277.96B | +171.90% | 114.78B | -163.18B | 5.87 |
| Q4 FY2018 | 31 Oct 2018 | 230.48B | +2.57% | 112.89B | -117.59B | 5.04 |
| Q3 FY2018 | 31 Jul 2018 | 112.63B | +27.60% | 108.03B | -4.60B | 2.52 |
| Q2 FY2018 | 30 Apr 2018 | 107.97B | +21.84% | 100.12B | -7.85B | 2.47 |
| Q1 FY2018 | 31 Jan 2018 | 102.23B | +28.32% | 97.65B | -4.57B | 2.39 |
| Q4 FY2017 | 31 Oct 2017 | 224.70B | +14.09% | 93.16B | -131.53B | 5.07 |
| Q3 FY2017 | 31 Jul 2017 | 88.27B | +60.98% | 62.22B | -26.05B | 2.06 |
| Q2 FY2017 | 30 Apr 2017 | 88.62B | +38.82% | 60.78B | -27.84B | 1.97 |
| Q1 FY2017 | 31 Jan 2017 | 79.66B | +45.05% | 56.04B | -23.63B | 1.88 |
| Q4 FY2016 | 31 Oct 2016 | 196.95B | +34.93% | 91.77B | -105.19B | 4.66 |
| Q3 FY2016 | 31 Jul 2016 | 54.83B | +5.29% | 60.62B | 5.79B | 1.35 |
| Q2 FY2016 | 30 Apr 2016 | 63.84B | +37.36% | 64.48B | 646.00M | 1.64 |
| Q1 FY2016 | 31 Jan 2016 | 54.92B | +0.74% | 69.32B | 14.40B | 1.32 |
| Q4 FY2015 | 31 Oct 2015 | 145.97B | +117.63% | 95.68B | -50.29B | 3.70 |
| Q3 FY2015 | 31 Jul 2015 | 52.08B | +16.89% | 73.31B | 21.24B | 1.36 |
| Q2 FY2015 | 30 Apr 2015 | 46.47B | -7.22% | 62.47B | 15.99B | 1.29 |
| Q1 FY2015 | 31 Jan 2015 | 54.52B | +11.78% | 69.44B | 14.92B | 1.46 |
| Q4 FY2014 | 31 Oct 2014 | 67.07B | +21.42% | 43.67B | -23.41B | 1.95 |
| Q3 FY2014 | 31 Jul 2014 | 44.55B | -13.67% | 44.05B | -504.00M | 1.34 |
| Q2 FY2014 | 30 Apr 2014 | 50.09B | +16.28% | 42.15B | -7.94B | 1.58 |
| Q1 FY2014 | 31 Jan 2014 | 48.77B | +16.75% | 40.70B | -8.07B | 1.54 |
| Q4 FY2013 | 31 Oct 2013 | 55.24B | -20.30% | 44.60B | -10.65B | 1.83 |
| Q3 FY2013 | 31 Jul 2013 | 51.61B | +0.70% | 40.61B | -11.00B | 1.74 |
| Q2 FY2013 | 30 Apr 2013 | 43.08B | -47.84% | 44.68B | 1.60B | 1.47 |
| Q1 FY2013 | 31 Jan 2013 | 41.77B | -46.84% | 37.67B | -4.11B | 1.43 |
| Q4 FY2012 | 31 Oct 2012 | 69.31B | -2.38% | 82.66B | 13.35B | 2.42 |
| Q3 FY2012 | 31 Jul 2012 | 51.25B | -39.70% | 39.59B | -11.67B | 1.83 |
| Q2 FY2012 | 30 Apr 2012 | 82.59B | +12.91% | 41.13B | -41.47B | 3.06 |
| Q1 FY2012 | 31 Jan 2012 | 78.58B | +0.74% | 47.16B | -31.43B | 2.90 |
| Q4 FY2011 | 31 Oct 2011 | 71.00B | -9.55% | 77.08B | 6.08B | 2.69 |
| Q3 FY2011 | 31 Jul 2011 | 84.99B | +30.34% | 38.06B | -46.93B | 3.15 |
| Q2 FY2011 | 30 Apr 2011 | 73.15B | +8.16% | 27.75B | -45.40B | 3.27 |
| Q1 FY2011 | 31 Jan 2011 | 78.01B | +9.76% | 24.24B | -53.77B | 3.55 |
| Q4 FY2010 | 31 Oct 2010 | 78.50B | +55.29% | 68.54B | -9.96B | 3.89 |
| Q3 FY2010 | 31 Jul 2010 | 65.21B | -2.58% | 18.20B | -47.00B | 3.07 |
| Q2 FY2010 | 30 Apr 2010 | 67.63B | +2.73% | 16.36B | -51.27B | 3.30 |
| Q1 FY2010 | 31 Jan 2010 | 71.07B | +25.28% | 15.90B | -55.17B | 3.45 |
| Q4 FY2009 | 31 Oct 2009 | 50.55B | +37.33% | 63.55B | 13.00B | 2.50 |
| Q3 FY2009 | 31 Jul 2009 | 66.93B | +34.49% | 14.57B | -52.37B | 3.39 |
| Q2 FY2009 | 30 Apr 2009 | 65.83B | +19.05% | 14.23B | -51.60B | 3.34 |
| Q1 FY2009 | 31 Jan 2009 | 56.73B | -7.49% | 26.39B | -30.34B | 2.94 |
| Q4 FY2008 | 31 Oct 2008 | 36.81B | -39.56% | 53.22B | 16.41B | 2.06 |
| Q3 FY2008 | 31 Jul 2008 | 49.77B | -20.99% | 22.05B | -27.71B | 2.94 |
| Q2 FY2008 | 30 Apr 2008 | 55.30B | -4.85% | 22.24B | -33.06B | 3.37 |
| Q1 FY2008 | 31 Jan 2008 | 61.32B | -2.95% | 26.12B | -35.20B | 3.96 |
| Q4 FY2007 | 31 Oct 2007 | 60.90B | +75.78% | 48.90B | -12.00B | 3.98 |
| Q3 FY2007 | 31 Jul 2007 | 62.99B | +39.52% | 25.04B | -37.95B | 4.11 |
| Q2 FY2007 | 30 Apr 2007 | 58.11B | +15.89% | 19.50B | -38.61B | 3.77 |
| Q1 FY2007 | 31 Jan 2007 | 63.18B | +29.55% | 22.87B | -40.31B | 4.04 |
| Q4 FY2006 | 31 Oct 2006 | 34.64B | +37.88% | 19.28B | -15.37B | 2.30 |
| Q3 FY2006 | 31 Jul 2006 | 45.15B | +2.70% | 20.16B | -24.99B | 2.98 |
| Q2 FY2006 | 30 Apr 2006 | 50.14B | +9.52% | 19.56B | -30.58B | 3.37 |
| Q1 FY2006 | 31 Jan 2006 | 48.77B | +24.21% | 19.93B | -28.84B | 3.33 |
| Q4 FY2005 | 31 Oct 2005 | 25.13B | -28.89% | 20.72B | -4.41B | 1.82 |
| Q3 FY2005 | 31 Jul 2005 | 43.96B | +30.46% | 20.40B | -23.56B | 3.13 |
| Q2 FY2005 | 30 Apr 2005 | 45.79B | +20.64% | 21.14B | -24.65B | 3.32 |
| Q1 FY2005 | 31 Jan 2005 | 39.27B | +9.56% | 20.29B | -18.98B | 2.90 |
| Q4 FY2004 | 31 Oct 2004 | 35.33B | +1.30% | 18.05B | -17.29B | 2.68 |
| Q3 FY2004 | 31 Jul 2004 | 33.70B | -2.95% | 20.79B | -12.91B | 2.47 |
| Q2 FY2004 | 30 Apr 2004 | 37.95B | +0.93% | 22.27B | -15.69B | 2.83 |
| Q1 FY2004 | 31 Jan 2004 | 35.84B | -5.49% | 19.76B | -16.08B | 2.77 |
| Q4 FY2003 | 31 Oct 2003 | 34.88B | -3.77% | 19.86B | -15.02B | 2.79 |
| Q3 FY2003 | 31 Jul 2003 | 34.72B | +6.80% | 19.66B | -15.06B | 2.80 |
| Q2 FY2003 | 30 Apr 2003 | 37.60B | +15.62% | 15.44B | -22.16B | 3.12 |
| Q1 FY2003 | 31 Jan 2003 | 37.92B | +16.44% | 14.82B | -23.10B | 3.15 |
| Q4 FY2002 | 31 Oct 2002 | 36.24B | +26.01% | 19.31B | -16.94B | 3.05 |
| Q3 FY2002 | 31 Jul 2002 | 32.51B | -5.02% | 16.55B | -15.96B | 2.77 |
| Q2 FY2002 | 30 Apr 2002 | 32.52B | -8.68% | 17.98B | -14.55B | 2.83 |
| Q1 FY2002 | 31 Jan 2002 | 32.57B | -14.60% | 18.88B | -13.69B | 2.86 |
| Q4 FY2001 | 31 Oct 2001 | 28.76B | -15.44% | 17.66B | -11.10B | 2.69 |
| Q3 FY2001 | 31 Jul 2001 | 34.22B | -14.64% | 17.35B | -16.87B | 2.90 |
| Q2 FY2001 | 30 Apr 2001 | 35.61B | -4.98% | 19.06B | -16.56B | 3.09 |
| Q1 FY2001 | 31 Jan 2001 | 38.14B | -0.56% | 20.51B | -17.63B | 3.19 |
| Q4 FY2000 | 31 Oct 2000 | 34.01B | -13.54% | 18.51B | -15.50B | 2.85 |
| Q3 FY2000 | 31 Jul 2000 | 40.10B | -2.72% | 21.03B | -19.07B | 3.46 |
| Q2 FY2000 | 30 Apr 2000 | 37.48B | -7.24% | 23.26B | -14.22B | 3.20 |
| Q1 FY2000 | 31 Jan 2000 | 38.35B | -13.70% | 23.44B | -14.91B | 3.41 |
| Q4 FY1999 | 31 Oct 1999 | 39.34B | -7.20% | 24.04B | -15.30B | 3.58 |
| Q3 FY1999 | 31 Jul 1999 | 41.22B | -4.10% | 25.78B | -15.44B | 3.69 |
| Q2 FY1999 | 30 Apr 1999 | 40.41B | +11.13% | 23.22B | -17.19B | 3.75 |
| Q1 FY1999 | 31 Jan 1999 | 44.44B | +14.63% | 23.82B | -20.62B | 4.17 |
| Q4 FY1998 | 31 Oct 1998 | 42.39B | +19.33% | 19.73B | -22.66B | 4.00 |
| Q3 FY1998 | 31 Jul 1998 | 42.98B | +20.14% | 23.70B | -19.28B | 4.10 |
| Q2 FY1998 | 30 Apr 1998 | 36.36B | +1.68% | 26.60B | -9.76B | 3.70 |
| Q1 FY1998 | 31 Jan 1998 | 38.77B | +15.78% | 31.97B | -6.80B | 4.20 |
| Q4 FY1997 | 31 Oct 1997 | 35.52B | +9.13% | 32.25B | -3.28B | 3.99 |
| Q3 FY1997 | 31 Jul 1997 | 35.77B | +35.66% | 28.25B | -7.52B | 4.11 |
| Q2 FY1997 | 30 Apr 1997 | 35.76B | +47.97% | 29.00B | -6.76B | 4.22 |
| Q1 FY1997 | 31 Jan 1997 | 33.49B | +44.97% | 24.03B | -9.46B | 4.29 |
| Q4 FY1996 | 31 Oct 1996 | 32.55B | +39.98% | 24.19B | -8.37B | 4.29 |
| Q3 FY1996 | 31 Jul 1996 | 26.37B | +17.10% | 21.25B | -5.12B | 3.53 |
| Q2 FY1996 | 30 Apr 1996 | 24.17B | — | 21.39B | -2.78B | 3.29 |
| Q1 FY1996 | 31 Jan 1996 | 23.10B | — | 19.81B | -3.29B | 3.21 |
| Q4 FY1995 | 31 Oct 1995 | 23.26B | -2.65% | 20.32B | -2.94B | 3.31 |
| Q3 FY1995 | 31 Jul 1995 | 22.52B | — | 16.11B | -6.41B | 3.24 |
| Q4 FY1994 | 31 Oct 1994 | 23.89B | — | 14.57B | -9.32B | 3.65 |
Figures in CAD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Bank of Montreal's debt
Source: Financial Modeling Prep