Sifting through countless of stocks in the Banks industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Banco Santander, S.A. or The Bank of Nova Scotia because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Banco Santander, S.A. and The Bank of Nova Scotia compare based on key financial metrics to determine which better meets your investment needs.

About Banco Santander, S.A. and The Bank of Nova Scotia

Banco Santander, S.A. provides various financial products and services to individuals, small and medium-sized enterprises, large corporations, and public entities worldwide. The company operates through five segments: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking, Wealth Management & Insurance, and Payments. It offers demand and time deposits, mutual funds, and current and savings accounts; mortgages, consumer finance, loans, and various financing solutions; and project finance, debt capital markets, global transaction banking, and corporate finance services. The company also provides credit and debit cards, real estate loans, microfinance, and auto loans; corporate and investment banking services; advice on mergers and acquisitions; wealth, asset, and risk management services; and digital payments and technology solutions. In addition, it is involved in the securitization, leasing, management of portfolios, e-commerce, air transport, aircraft rental, software, consulting, fund and investment management, renewable energy, vehicle rental, insurance, advertising, marketing, telemarketing, automotive, agricultural, factoring, securities brokerage and investment, pension fund management, trade intermediary, venture capital fund, renting, restaurant, electricity production, IT, internet, and financial advisory and other activities; management, and other real estate activities; and purchase and sale of vehicles. Further, the company offers mobile and online banking services. Banco Santander, S.A. was formerly known as Banco Santander Central Hispano SA and changed its name to Banco Santander, S.A. in February 2007. The company was incorporated in 1856 and is headquartered in Madrid, Spain.

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. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.

Latest Banks and Banco Santander, S.A., The Bank of Nova Scotia Stock News

As of September 1, 2026, Banco Santander, S.A. had a $211.1 billion market capitalization, compared to the Banks median of $730.8 million. Banco Santander, S.A.’s stock is up 25.7% in 2026, up 0.3% in the previous five trading days and up 50.89% in the past year.

Currently, Banco Santander, S.A.’s price-earnings ratio is 14.3. Banco Santander, S.A.’s trailing 12-month revenue is $55.4 billion with a 33.5% net profit margin. Year-over-year quarterly sales growth most recently was 7.2%. Analysts expect adjusted earnings to reach $1.280 per share for the current fiscal year. Banco Santander, S.A. currently has a 2.0% dividend yield.

As of September 1, 2026, The Bank of Nova Scotia had a $111.4 billion market cap, putting it in the 97th percentile of all stocks. The Bank of Nova Scotia’s stock is up 26.6% in 2026, down 0.3% in the previous five trading days and up 46% in the past year.

Currently, The Bank of Nova Scotia’s price-earnings ratio is 16.7. The Bank of Nova Scotia’s trailing 12-month revenue is $25.1 billion with a 28.4% net profit margin. Year-over-year quarterly sales growth most recently was 10.2%. Analysts expect adjusted earnings to reach $6.136 per share for the current fiscal year. The Bank of Nova Scotia currently has a 5.0% dividend yield.

How We Compare Banco Santander, S.A. and The Bank of Nova Scotia Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Banco Santander, S.A. and The Bank of Nova Scotia’s stock grades to see how they measure up against one another.

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Banco Santander, S.A. and The Bank of Nova Scotia Stock Value Grades

Company	Ticker	Value
Banco Santander, S.A.	SAN	B
The Bank of Nova Scotia	BNS	B

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

Banco Santander, S.A. has a Value Score of 65, which is Value. The Bank of Nova Scotia has a Value Score of 65, which is Value.

The Value Stock Winner: It’s a Tie!

Looking at the Value Grade breakdown above, both Banco Santander, S.A. and The Bank of Nova Scotia have a Value Grade of B. For investors who focus solely on a company’s valuation, you will need to conduct further research into both of these companies’ other metrics to see if they could be good additions to your portfolio. It’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Banco Santander, S.A. and The Bank of Nova Scotia Growth Grades

Company	Ticker	Growth
Banco Santander, S.A.	SAN	B
The Bank of Nova Scotia	BNS	F

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Banco Santander, S.A. has a Growth Score of 64, which is Strong. The Bank of Nova Scotia has a Growth Score of 20, which is Very Weak.

The Growth Grade Winner: Banco Santander, S.A.

As you can clearly see from the Growth Grade breakdown above, Banco Santander, S.A. has a more attractive growth grade than The Bank of Nova Scotia. For investors who focus solely on how a company is growing relative to other companies in the same industry, Banco Santander, S.A. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Banco Santander, S.A. and The Bank of Nova Scotia’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
Banco Santander, S.A.	SAN	C
The Bank of Nova Scotia	BNS	B

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

Banco Santander, S.A. has a Earnings Estimate Score of 50, which is Neutral. The Bank of Nova Scotia has a Earnings Estimate Score of 68, which is Positive.

The Earnings Estimate Revisions Grade Winner: The Bank of Nova Scotia

As you can clearly see from the Earnings Estimate Revisions Grade breakdown above, The Bank of Nova Scotia has a better Earnings Estimate Revisions Grade than Banco Santander, S.A.. For those who are specifically looking for companies with better short-term prospects when compared to other companies in the same industry, The Bank of Nova Scotia could be a good stock to invest in. However, it’s important to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other Banco Santander, S.A. and The Bank of Nova Scotia Grades

In addition to Value, Growth and Estimate Revisions, A+ Investor also provides grades for Momentum and Quality.

Momentum grades help uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Banco Santander, S.A. and The Bank of Nova Scotia pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Banco Santander, S.A. or The Bank of Nova Scotia Stock?

Overall, Banco Santander, S.A. stock has a Value Score of 65, Growth Score of 64 and Estimate Revisions Score of 50.

The Bank of Nova Scotia stock has a Value Score of 65, Growth Score of 20 and Estimate Revisions Score of 68.

Comparing Banco Santander, S.A. and The Bank of Nova Scotia’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.