NYSE : RY
Royal Bank of Canada — Financial statements
Financials · Banks - Diversified · Canada
Last price 206.03 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 285.35B
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Financial statements
Income statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 55.90B | 56.04B | 54.04B | 43.46B | 26.57B | 21.65B |
| Interest Income on Investments | 48.10B | 47.78B | 50.91B | 43.53B | 14.21B | 6.49B |
| Total Interest Income | 104.00B | 103.83B | 104.95B | 86.99B | 40.77B | 28.14B |
| Interest Paid on Deposits | 42.81B | 44.82B | 47.26B | 36.68B | 10.75B | 5.45B |
| Interest Paid on Borrowings | 26.71B | 26.01B | 29.74B | 25.18B | 7.30B | 2.69B |
| Total Interest Expense | 69.52B | 70.83B | 77.00B | 61.86B | 18.05B | 8.14B |
| Net Interest Income | 34.48B | 33.00B | 27.95B | 25.13B | 22.72B | 20.00B |
| Trust Income | 11.75B | 10.65B | 9.32B | 8.34B | 7.61B | 7.13B |
| Income From Trading Activities | 3.35B | 3.12B | 2.33B | 2.39B | 926.00M | 1.18B |
| Gain (Loss) on Sale of Investments | 209.00M | 120.00M | 170.00M | 193.00M | 43.00M | 145.00M |
| Gain (Loss) on Sale of Equity Investments | 101.00M | 73.00M | -16.00M | -219.00M | 110.00M | 130.00M |
| Other Non-Interest Income | 21.27B | 19.64B | 17.59B | 15.62B | 17.58B | 21.10B |
| Total Non-Interest Income | 36.68B | 33.60B | 29.39B | 26.34B | 26.27B | 29.69B |
| Revenues Before Loan Losses | 71.16B | 66.61B | 57.34B | 51.46B | 48.98B | 49.69B |
| Provision for Loan Losses | 4.01B | 4.36B | 3.23B | 2.47B | 484.00M | -753.00M |
| Revenue | 67.15B | 62.24B | 54.11B | 49.00B | 48.50B | 50.45B |
| Salaries and Employee Benefits | 21.97B | 20.62B | 18.13B | 18.11B | 16.07B | 14.42B |
| Amortization of Goodwill & Intangibles | 1.60B | 1.76B | 1.55B | 1.47B | 1.37B | 1.29B |
| Selling, General & Administrative | 10.81B | 10.64B | 11.19B | 8.18B | 6.71B | 7.97B |
| Other Non-Interest Expense | 3.68B | 3.57B | 3.38B | 3.06B | 4.25B | 6.14B |
| Total Non-Interest Expense | 38.06B | 36.59B | 34.25B | 30.81B | 28.39B | 29.82B |
| EBT Excluding Unusual Items | 29.09B | 25.65B | 19.86B | 18.18B | 20.11B | 20.63B |
| Pretax Income | 29.09B | 25.65B | 19.86B | 18.18B | 20.11B | 20.63B |
| Income Tax Expense | 6.34B | 5.28B | 3.62B | 3.57B | 4.30B | 4.58B |
| Earnings From Continuing Operations | 22.75B | 20.37B | 16.24B | 14.61B | 15.81B | 16.05B |
| Minority Interest in Earnings | -7.00M | -7.00M | -10.00M | -7.00M | -13.00M | -12.00M |
| Net Income | 22.75B | 20.36B | 16.23B | 14.61B | 15.79B | 16.04B |
| Preferred Dividends & Other Adjustments | 558.00M | 494.00M | 322.00M | 236.00M | 247.00M | 257.00M |
| Net Income to Common | 22.19B | 19.87B | 15.91B | 14.37B | 15.55B | 15.78B |
| Basic Shares Outstanding | 1.40B | 1.41B | 1.41B | 1.39B | 1.40B | 1.42B |
| Diluted Shares Outstanding | 1.40B | 1.41B | 1.41B | 1.39B | 1.41B | 1.43B |
| EPS (Basic) | 15.90 | 14.10 | 11.27 | 10.33 | 11.08 | 11.08 |
| EPS (Diluted) | 15.86 | 14.07 | 11.25 | 10.32 | 11.06 | 11.06 |
| Dividend Per Share | 6.58 | 6.04 | 5.60 | 5.34 | 4.96 | 4.32 |
| Effective Tax Rate | 21.78% | 20.59% | 18.24% | 19.64% | 21.39% | 22.20% |
Balance sheet
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 61.14B | 34.02B | 54.72B | 58.99B | 70.40B | 111.85B |
| Investment Securities | 755.46B | 700.92B | 671.64B | 628.66B | 593.70B | 530.93B |
| Trading Asset Securities | 414.60B | 410.75B | 343.75B | 338.58B | 246.76B | 185.18B |
| Mortgage-Backed Securities | 2.97B | 2.67B | 2.63B | 2.70B | 2.89B | 2.75B |
| Total Investments | 1.17T | 1.11T | 1.02T | 969.94B | 843.34B | 718.85B |
| Gross Loans | 1.12T | 1.05T | 987.93B | 858.31B | 824.33B | 722.37B |
| Allowance for Loan Losses | -7.43B | -7.09B | -6.04B | -5.00B | -3.75B | -4.09B |
| Net Loans | 1.11T | 1.04T | 981.90B | 853.30B | 820.57B | 718.28B |
| Property, Plant & Equipment | 6.95B | 6.82B | 6.85B | 6.75B | 7.21B | 7.42B |
| Goodwill | 19.49B | 19.41B | 19.29B | 12.59B | 12.28B | 10.85B |
| Other Intangible Assets | 7.33B | 7.40B | 7.80B | 5.90B | 6.08B | 4.47B |
| Accrued Interest Receivable | 8.34B | 7.90B | 7.77B | 4.70B | 2.19B | |
| Other Receivables | 18.39B | 15.15B | 21.41B | 19.22B | 13.34B | |
| Restricted Cash | 3.00B | 30.42B | 22.48B | 23.10B | 27.63B | 16.54B |
| Other Current Assets | 22.66B | 17.13B | 35.86B | 97.23B | 89.46B | |
| Long-Term Deferred Tax Assets | 4.49B | 4.33B | 3.12B | 1.47B | 2.01B | |
| Other Long-Term Assets | 119.16B | 15.73B | 16.02B | 7.80B | 7.07B | 11.05B |
| Total Assets | 2.50T | 2.33T | 2.17T | 2.01T | 1.92T | 1.71T |
| Accounts Payable | 1.66B | 1.48B | 1.58B | 1.29B | 1.87B | |
| Accrued Expenses | 23.06B | 20.05B | 17.15B | 19.96B | 15.80B | |
| Interest Bearing Deposits | 608.25B | 596.94B | 541.16B | 458.49B | 989.65B | 461.94B |
| Institutional Deposits | 810.00B | 704.00B | 670.00B | 586.00B | 416.00B | |
| Non-Interest Bearing Deposits | 226.32B | 214.68B | 198.37B | 187.20B | 219.16B | 222.89B |
| Total Deposits | 1.64T | 1.52T | 1.41T | 1.23T | 1.21T | 1.10T |
| Short-Term Borrowings | 20.50B | 14.00B | 16.22B | 19.65B | 7.92B | |
| Current Portion of Long-Term Debt | 289.94B | 304.86B | 334.96B | 273.11B | 261.72B | |
| Current Portion of Leases | 694.00M | 709.00M | 653.00M | 654.00M | 631.00M | |
| Current Income Taxes Payable | 2.85B | 2.40B | 2.96B | 2.14B | 3.40B | |
| Accrued Interest Payable | 11.78B | 13.23B | 10.94B | 5.02B | 2.18B | |
| Other Current Liabilities | 59.41B | 74.71B | 57.45B | 83.69B | 83.29B | 77.92B |
| Long-Term Debt | 505.80B | 197.50B | 177.78B | 154.29B | 164.35B | 101.51B |
| Long-Term Leases | 3.89B | 3.96B | 4.11B | 4.46B | 4.45B | |
| Long-Term Unearned Revenue | 4.28B | 4.15B | 3.83B | 3.66B | 3.52B | |
| Pension & Post-Retirement Benefits | 1.97B | 1.92B | 1.61B | 1.67B | 2.04B | |
| Long-Term Deferred Tax Liabilities | 484.00M | 542.00M | 426.00M | 439.00M | 74.00M | |
| Other Long-Term Liabilities | 143.94B | 36.93B | 32.34B | 27.27B | 20.55B | 23.71B |
| Total Liabilities | 2.35T | 2.19T | 2.04T | 1.89T | 1.81T | 1.61T |
| Preferred Stock, Redeemable | 23.00M | 23.00M | 23.00M | |||
| Preferred Stock, Non-Redeemable | 8.70B | 8.59B | 5.37B | 4.00B | 4.00B | 4.00B |
| Preferred Stock, Convertible | 2.45B | 3.05B | 3.65B | 3.30B | 3.30B | 2.70B |
| Preferred Stock, Other | -40.00M | 32.00M | 11.00M | -9.00M | -5.00M | -39.00M |
| Total Preferred Equity | 11.11B | 11.68B | 9.03B | 7.31B | 7.32B | 6.68B |
| Common Stock | 20.66B | 20.75B | 20.95B | 19.17B | 16.98B | 17.66B |
| Retained Earnings | 103.48B | 96.94B | 88.61B | 81.72B | 78.04B | 71.80B |
| Comprehensive Income & Other | 9.79B | 9.73B | 8.50B | 6.85B | 5.72B | 2.53B |
| Total Common Equity | 133.92B | 127.42B | 118.06B | 107.73B | 100.75B | 91.98B |
| Minority Interest | 58.00M | 59.00M | 103.00M | 99.00M | 111.00M | 95.00M |
| Shareholders' Equity | 145.09B | 139.15B | 127.19B | 115.15B | 108.17B | 98.76B |
| Total Liabilities & Equity | 2.50T | 2.33T | 2.17T | 2.01T | 1.92T | 1.71T |
| Total Debt | 505.80B | 512.51B | 501.30B | 510.24B | 462.22B | 376.23B |
| Net Cash (Debt) | 334.40B | 292.31B | 313.99B | 298.61B | 280.79B | 308.34B |
| Net Cash Per Share | 239.02 | 207.08 | 222.10 | 214.43 | 199.70 | 216.11 |
| Filing Date Shares Outstanding | 1.38B | 1.40B | 1.42B | 1.41B | 1.38B | 1.42B |
| Total Common Shares Outstanding | 1.38B | 1.40B | 1.41B | 1.40B | 1.38B | 1.42B |
| Book Value Per Share | 96.73 | 91.00 | 83.46 | 76.92 | 72.85 | 64.57 |
| Tangible Book Value | 107.10B | 100.61B | 90.97B | 89.24B | 82.39B | 76.66B |
| Tangible Book Value Per Share | 77.35 | 71.86 | 64.32 | 63.72 | 59.57 | 53.81 |
Cash flow statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 22.75B | 20.36B | 16.23B | 14.61B | 15.79B | 16.04B |
| Depreciation & Amortization | 1.77B | 1.90B | 1.82B | 1.70B | 1.52B | 1.53B |
| Other Amortization | 1.15B | 1.15B | 1.09B | 1.14B | 1.11B | 1.04B |
| Gain (Loss) on Sale of Assets | 29.00M | -92.00M | -100.00M | -26.00M | ||
| Gain (Loss) on Sale of Investments | -226.00M | -132.00M | -170.00M | -191.00M | -151.00M | -278.00M |
| Total Asset Writedown | 13.00M | 34.00M | 68.00M | 19.00M | 18.00M | 29.00M |
| Provision for Credit Losses | 4.01B | 4.36B | 3.23B | 2.47B | 484.00M | -753.00M |
| Change in Trading Asset Securities | -55.42B | -62.36B | 4.09B | -30.12B | -67.83B | 14.78B |
| Accrued Interest Receivable | 438.00M | -1.88B | 1.67B | 2.84B | 333.00M | -509.00M |
| Change in Income Taxes | 2.41B | -936.00M | 945.00M | -1.01B | -3.34B | 1.74B |
| Change in Other Net Operating Assets | -60.31B | -13.08B | -95.96B | -8.47B | -35.02B | -62.01B |
| Other Operating Activities | -75.00M | -209.00M | -1.52B | -1.01B | 582.00M | 593.00M |
| Operating Cash Flow | -83.61B | -50.87B | -68.46B | -17.91B | -86.59B | -27.83B |
| Capital Expenditures | -2.35B | -2.24B | -2.28B | -2.73B | -2.50B | -2.19B |
| Sale of Property, Plant and Equipment | 78.00M | |||||
| Cash Acquisitions | -11.00M | -12.72B | -2.05B | |||
| Investment in Securities | -34.17B | -66.33B | -5.91B | -27.25B | -52.19B | -55.24B |
| Income (Loss) Equity Investments | -101.00M | -73.00M | 16.00M | 219.00M | ||
| Divestitures | 15.00M | 1.71B | ||||
| Other Investing Activities | -313.00M | |||||
| Investing Cash Flow | -36.53B | -68.57B | -20.89B | -28.27B | -57.05B | -57.35B |
| Short-Term Debt Issued | 2.80B | 9.61B | ||||
| Long-Term Debt Issued | 2.99B | 3.25B | 1.50B | 1.00B | 2.75B | |
| Total Debt Issued | 4.55B | 5.79B | 3.25B | 1.50B | 10.61B | 2.75B |
| Short-Term Debt Repaid | -4.51B | -5.10B | -14.00M | |||
| Long-Term Debt Repaid | -3.54B | -2.14B | -825.00M | -821.00M | -3.12B | |
| Lease Payments | -665.00M | -788.00M | -636.00M | -655.00M | -629.00M | -621.00M |
| Total Debt Repaid | -3.05B | -3.54B | -6.64B | -5.93B | -821.00M | -3.13B |
| Net Debt Issued (Repaid) | 1.50B | 2.26B | -3.39B | -4.43B | 9.79B | -385.00M |
| Issuance of Common Stock | 13.54B | 10.77B | 6.88B | 4.24B | 5.53B | 4.85B |
| Repurchase of Common Stock | -18.77B | -13.49B | -6.67B | -4.08B | -11.13B | -4.74B |
| Preferred Stock Issued | 3.21B | 4.95B | 2.70B | 749.00M | 2.25B | |
| Preferred Share Repurchases | -3.60B | -2.35B | -1.02B | -155.00M | -1.48B | |
| Common Dividends Paid | -8.88B | -8.31B | -6.32B | -5.31B | -6.71B | -6.16B |
| Preferred Dividends Paid | -558.00M | -494.00M | -322.00M | -236.00M | -247.00M | -257.00M |
| Total Dividends Paid | -9.43B | -8.80B | -6.64B | -5.55B | -6.96B | -6.42B |
| Net Increase (Decrease) in Deposit Accounts | 163.10B | 106.08B | 91.60B | 43.99B | 108.53B | 88.88B |
| Other Financing Activities | -30.00M | -39.00M | -6.00M | -21.00M | -5.00M | -3.00M |
| Financing Cash Flow | 149.52B | 99.37B | 83.45B | 34.16B | 106.35B | 82.95B |
| Foreign Exchange Rate Adjustments | -167.00M | 361.00M | 628.00M | 1.61B | -4.15B | -2.81B |
| Net Cash Flow | 29.21B | -19.70B | -5.27B | -10.41B | -41.45B | -5.04B |
| Free Cash Flow | -85.95B | -53.11B | -70.74B | -20.64B | -89.09B | -30.02B |
| Free Cash Flow Margin | -128.00% | -85.32% | -130.72% | -42.13% | -183.69% | -59.50% |
| Free Cash Flow Per Share | -61.44 | -37.62 | -50.03 | -14.82 | -63.36 | -21.04 |
| Free Cash Flow After Leases | -86.62B | -53.90B | -71.37B | -21.30B | -89.72B | -30.64B |
| Cash Interest Paid | 67.54B | 70.98B | 73.64B | 54.70B | 13.68B | 7.55B |
| Cash Income Tax Paid | 4.17B | 6.09B | 3.41B | 4.96B | 7.33B | 4.20B |
Ratios
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 281.72B | 206.00B | 170.92B | 111.76B | 128.64B | 148.02B |
| Last Close Price | 202.98 | 142.72 | 113.89 | 72.44 | 80.39 | 87.06 |
| PE Ratio | 17.86 | 14.53 | 14.97 | 10.80 | 11.28 | 11.63 |
| PS Ratio | 5.89 | 4.64 | 4.40 | 3.17 | 3.62 | 3.64 |
| PB Ratio | 2.72 | 2.08 | 1.87 | 1.35 | 1.62 | 1.86 |
| Debt / Equity Ratio | 3.49 | 3.68 | 3.94 | 4.43 | 4.27 | 3.81 |
| Net Debt / Equity Ratio | -2.31 | -2.10 | -2.47 | -2.59 | -2.60 | -3.12 |
| Net Debt / FCF Ratio | 3.89 | 5.50 | 4.44 | 14.47 | 3.15 | 10.27 |
| Return on Equity (ROE) | 16.21% | 15.29% | 13.40% | 13.09% | 15.28% | 17.30% |
| Return on Assets (ROA) | 0.96% | 0.91% | 0.78% | 0.74% | 0.87% | 0.96% |
| Earnings Yield | 5.60% | 7.05% | 6.81% | 9.41% | 9.00% | 8.74% |
| FCF Yield | -21.87% | -18.40% | -29.70% | -13.30% | -50.79% | -16.36% |
| Dividend Yield | 2.42% | 2.93% | 3.33% | 4.82% | 3.91% | 3.35% |
| Payout Ratio | 43.21% | 43.22% | 40.89% | 37.99% | 44.07% | 40.03% |
| Buyback Yield / Dilution | 1.07% | 0.15% | -1.52% | 0.96% | 1.45% | 0.14% |
| Total Shareholder Return | 3.48% | 3.08% | 1.80% | 5.78% | 5.36% | 3.50% |