Royal Bank of Canada (RY) 10-Year Financial Performance & Capital Metrics

RY • • Banking & Credit

Financial ServicesDiversified BanksRegional & Domestic Diversified BanksCanadian Diversified Banks

AboutRoyal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses. This segment offers financial products and services through branches, automated teller machines, and mobile sales network. Its Wealth Management segment provides a suite of advice-based solutions and strategies to high net worth and ultra-high net worth individuals, and institutional clients. The company's Insurance segment offers life, health, home, auto, travel, wealth, annuities, and reinsurance advice and solutions; and business insurance services to individual, business, and group clients through its advice centers, RBC insurance stores, and mobile advisors; digital, mobile, and social platforms; independent brokers; and travel partners. Its Investor & Treasury Services segment provides asset servicing, custody, payments, and treasury services to financial and other investors; and fund and investment administration, shareholder, private capital, performance measurement and compliance monitoring, distribution, transaction banking, cash and liquidity management, foreign exchange, and global securities finance services. The company's Capital Markets segment offers corporate and investment banking, as well as equity and debt origination, distribution, advisory services, sale, and trading services for corporations, institutional investors, asset managers, private equity firms, and governments. The company was founded in 1864 and is headquartered in Toronto, Canada.Show more

Net Interest Income $27.95B +11.2%
Total Revenue $134.49B +18.5%
Net Income $16.23B +11.1%
Return on Equity 13.39% +2.4%
Net Interest Margin 1.29% +2.8%
Efficiency Ratio 25.58% -6.2%
ROA 0.78% +4.4%
Equity / Assets 5.86% +2.1%
Book Value per Share 89.97 +8.8%
Tangible BV/Share 70.81 +2.0%
Debt/Equity 6.13 -8.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 25.6% efficiency ratio
✓Healthy dividend yield of 2.8%
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 6.1x
✗Weak NIM of 1.3%
✗Thin capital base

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.38%

5Y14.83%

3Y32.6%

TTM-

Profit (Net Income) CAGR

10Y6.18%

5Y4.76%

3Y0.4%

TTM18.64%

EPS CAGR

10Y6.47%

5Y5.12%

3Y0.51%

TTM17.72%

ROCE

10Y Avg3.55%

5Y Avg3.38%

3Y Avg3.1%

Latest2.87%

Peer Comparison

Canadian Diversified Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TDThe Toronto-Dominion Bank	158B	94.12	19.94	16.55%	7.42%	16.66%	33.39%	5.75
RYRoyal Bank of Canada	237.55B	169.65	15.11	18.54%	12.07%	14.12%	8.78%	6.13
BMOBank of Montreal	94.94B	133.93	14.08	15.51%	9.32%	10.05%	28.93%	4.43
CMCanadian Imperial Bank of Commerce	84.72B	91.43	12.56	15.36%	11.11%	12.93%	11.8%	5.40
BNSThe Bank of Nova Scotia	89.46B	72.36	12.35	-7.25%	26.31%	8.44%	16.95%	3.58

Profit & Loss

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Net Interest Income+	14.77B	16.53B	17.14B	17.95B	19.75B	20.84B	20B	22.72B	25.13B	27.95B
NII Growth %	0.05%	0.12%	0.04%	0.05%	0.1%	0.05%	-0.04%	0.14%	0.11%	0.11%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	22.73B	24.45B	26.9B	33.02B	41.33B	34.88B	28.14B	40.77B	86.99B	104.95B
Interest Expense	7.96B	7.92B	9.76B	15.07B	21.58B	14.05B	8.14B	18.05B	61.86B	77B
Loan Loss Provision	1.1B	1.55B	1.15B	1.31B	1.86B	4.35B	-753M	484M	2.47B	3.23B
Non-Interest Income+	20.32B	21.53B	22.98B	24.56B	26.02B	26.27B	29.54B	26.06B	26.46B	29.54B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	43.05B	45.98B	49.89B	57.58B	67.35B	61.15B	57.68B	66.83B	113.45B	134.49B
Revenue Growth %	0.03%	0.07%	0.08%	0.15%	0.17%	-0.09%	-0.06%	0.16%	0.7%	0.19%
Non-Interest Expense	21.38B	23.22B	24.3B	25.45B	27.99B	28.36B	29.66B	28.18B	30.94B	34.4B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	12.62B	13.3B	14.67B	15.76B	15.91B	14.39B	20.63B	20.11B	18.18B	19.86B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.08%	0.05%	0.1%	0.07%	0.01%	-0.1%	0.43%	-0.03%	-0.1%	0.09%
Pretax Income+	12.62B	13.3B	14.67B	15.76B	15.91B	14.39B	20.63B	20.11B	18.18B	19.86B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	2.6B	2.84B	3.2B	3.33B	3.04B	2.95B	4.58B	4.3B	3.57B	3.62B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	9.93B	10.4B	11.43B	12.4B	12.86B	11.43B	16.04B	15.79B	14.61B	16.23B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.11%	0.05%	0.1%	0.09%	0.04%	-0.11%	0.4%	-0.02%	-0.08%	0.11%
Net Income (Continuing)	10.03B	10.46B	11.47B	12.43B	12.87B	11.44B	16.05B	15.81B	14.61B	16.24B
EPS (Diluted)+	6.73	6.78	7.56	8.36	8.75	7.82	11.06	11.06	10.32	11.23
EPS Growth %	0.12%	0.01%	0.12%	0.11%	0.05%	-0.11%	0.41%	0%	-0.07%	0.09%
EPS (Basic)	6.75	6.80	7.59	8.39	8.78	7.84	11.08	11.08	10.33	11.27
Diluted Shares Outstanding	1.45B	1.49B	1.47B	1.45B	1.44B	1.43B	1.43B	1.41B	1.39B	1.41B

Balance Sheet

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	35.14B	42.78B	61.07B	66.68B	64.66B	157.9B	193.48B	180.41B	133.07B	122.74B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	635.01B	725.97B	729.05B	791.88B	852.59B	940.71B	978.48B	1.19T	1.27T	1.41T
Investments Growth %	0.11%	0.14%	0%	0.09%	0.08%	0.1%	0.04%	0.21%	0.07%	0.11%
Long-Term Investments	580.24B	643.4B	640.49B	760.92B	818.28B	896.32B	945.03B	1.13T	1.2T	1.37T
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	9.29B	11.16B	10.98B	11.14B	11.24B	11.3B	10.85B	12.28B	12.59B	19.29B
Intangible Assets	2.81B	4.65B	4.51B	4.69B	4.67B	4.75B	4.47B	6.08B	5.9B	7.8B
PP&E (Net)	2.73B	2.84B	2.67B	2.83B	3.19B	7.93B	7.42B	7.21B	6.75B	6.85B
Other Assets	377.6B	379.97B	392.26B	439.13B	470.87B	486.38B	487.07B	497.14B	540.83B	560.78B
Total Current Assets	101.5B	137.66B	162.38B	117.47B	121.8B	220.91B	253.56B	266.83B	241.8B	200.01B
Total Non-Current Assets	972.71B	1.04T	1.05T	1.22T	1.31T	1.4T	1.45T	1.65T	1.76T	1.97T
Total Assets+	1.07T	1.18T	1.21T	1.33T	1.43T	1.62T	1.71T	1.92T	2.01T	2.17T
Asset Growth %	0.14%	0.1%	0.03%	0.1%	0.07%	0.14%	0.05%	0.12%	0.05%	0.08%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	5.66B	5.74B	6.01B	8.68B	8.34B	9.46B	10.51B	17.29B	20.58B	22.97B
Total Debt+	323.83B	326.98B	371.44B	458.81B	498.23B	541.5B	567.25B	699.12B	774.59B	779.52B
Net Debt	288.69B	284.2B	310.37B	392.13B	433.57B	383.6B	373.76B	518.72B	641.51B	656.78B
Long-Term Debt	155.96B	158.42B	151.32B	163.31B	172.19B	181.91B	201.1B	277.77B	316.92B	334.22B
Short-Term Debt	167.87B	168.56B	220.12B	295.5B	325.99B	354.24B	361.07B	416.25B	452.91B	440.63B
Other Liabilities	160.48B	172.34B	151.06B	152.29B	169.39B	187.22B	168.58B	235.65B	236.22B	236.59B
Total Current Liabilities	691.59B	774.93B	833.87B	936.83B	1T	1.16T	1.23T	1.29T	1.33T	1.46T
Total Non-Current Liabilities	318.67B	333.72B	304.55B	317.95B	344.27B	376.85B	377.72B	521.98B	561.51B	579.47B
Total Liabilities	1.01T	1.11T	1.14T	1.25T	1.35T	1.54T	1.61T	1.81T	1.89T	2.04T
Total Equity+	63.94B	71.61B	74.43B	79.95B	83.63B	86.77B	98.76B	108.17B	115.15B	127.19B
Equity Growth %	0.17%	0.12%	0.04%	0.07%	0.05%	0.04%	0.14%	0.1%	0.06%	0.1%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.17%	0.15%	0.16%	0.16%	0.16%	0.13%	0.17%	0.15%	0.13%	0.13%
Book Value per Share	44.11	47.93	50.48	55.12	58.05	60.73	69.22	76.94	82.69	89.97
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	14.61B	17.86B	17.7B	17.62B	17.59B	17.63B	17.73B	17.32B	19.4B	21.01B
Additional Paid-in Capital	14.61B	17.86B	17.7B	17.62B	17.59B	0	0	0	0	0
Retained Earnings	37.81B	41.52B	45.36B	51.11B	55.98B	59.81B	71.8B	78.04B	81.72B	88.61B
Accumulated OCI	4.63B	4.93B	4.35B	4.82B	4.25B	3.41B	0	0	0	8.5B
Treasury Stock	-2M	-80M	-27M	-18M	-58M	-132M	-112M	-339M	-240M	-50M
Preferred Stock	5.1B	6.71B	6.41B	6.31B	5.71B	5.95B	6.72B	7.32B	7.32B	9.02B

Cash Flow

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	24.15B	26.86B	37.73B	17.47B	14.27B	138.82B	61.04B	21.94B	26.08B	23.14B
Operating CF Growth %	0.59%	0.11%	0.4%	-0.54%	-0.18%	8.73%	-0.56%	-0.64%	0.19%	-0.11%
Net Income	10.03B	10.46B	11.47B	12.43B	12.87B	11.44B	16.05B	15.81B	14.61B	16.24B
Depreciation & Amortization	1.25B	1.55B	1.62B	1.65B	1.93B	2.65B	2.59B	2.65B	2.85B	2.98B
Deferred Taxes	302M	-479M	203M	459M	-519M	-586M	581M	569M	-1.02B	-1.53B
Other Non-Cash Items	681M	1.03B	626M	1.12B	1.42B	4.07B	-1.06B	233M	2.4B	3.11B
Working Capital Changes	11.89B	14.3B	23.81B	1.81B	-1.44B	121.25B	42.88B	2.68B	7.23B	2.34B
Cash from Investing+	-25.14B	-21.43B	-15.46B	-8.02B	-11.13B	-39.56B	-57.35B	-57.05B	-28.27B	-20.89B
Purchase of Investments	-53.25B	-58.48B	-61.56B	-59.29B	-72.44B	-149.52B	-123.55B	-122.96B	-202.46B	-193.31B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	255M	-2.33B	0	-51M	67M	-22M	78M	-2.36B	1.71B	-12.7B
Other Investing	-14.46B	-3.11B	-4.81B	-3.81B	-1.87B	-676M	-40.62B	-28.37B	18.74B	5.07B
Cash from Financing+	-4.43B	-3.13B	-8.65B	-7.72B	-7.46B	-7.75B	-5.93B	-2.19B	-9.83B	-8.15B
Dividends Paid	-4.56B	-5B	-5.31B	-5.64B	-6.03B	-6.33B	-6.42B	-6.96B	-5.55B	-6.64B
Share Repurchases	-6.58B	-5.89B	-7.9B	-7.35B	-7.54B	-7.17B	-6.22B	-11.28B	-4.08B	-6.67B
Stock Issued	6.28B	5.45B	4.74B	5.81B	5.63B	4.85B	4.85B	5.53B	4.24B	6.88B
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	0	1000K	-1000K	-1000K	1000K	-1000K	-1000K
Other Financing	-113M	-1.28B	-35M	-537M	-2M	-6M	-3M	-5M	-21M	-6M
Net Change in Cash+	-4.97B	2.48B	13.48B	1.8B	-3.9B	92.58B	-5.04B	-41.45B	-10.41B	-5.27B
Exchange Rate Effect	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	1000K
Cash at Beginning	17.42B	12.45B	14.93B	28.41B	30.21B	26.31B	118.89B	113.85B	72.4B	61.99B
Cash at End	12.45B	14.93B	28.41B	30.21B	26.31B	118.89B	113.85B	72.4B	61.99B	56.72B
Interest Paid	7.1B	7.1B	8.8B	13.51B	19.98B	13.06B	7.55B	13.68B	54.7B	73.64B
Income Taxes Paid	2.05B	1.58B	4.71B	5.82B	2.98B	2.88B	4.2B	7.33B	4.96B	3.41B
Free Cash Flow+	22.81B	25.6B	36.36B	15.49B	12B	136.19B	58.86B	19.44B	23.35B	20.86B
FCF Growth %	0.64%	0.12%	0.42%	-0.57%	-0.23%	10.35%	-0.57%	-0.67%	0.2%	-0.11%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	16.76%	15.35%	15.65%	16.06%	15.72%	13.42%	17.29%	15.26%	13.08%	13.39%
Return on Assets (ROA)	0.99%	0.92%	0.96%	0.97%	0.93%	0.75%	0.96%	0.87%	0.74%	0.78%
Net Interest Margin	1.38%	1.4%	1.41%	1.34%	1.38%	1.28%	1.17%	1.18%	1.25%	1.29%
Efficiency Ratio	49.65%	50.49%	48.71%	44.19%	41.56%	46.38%	51.42%	42.17%	27.27%	25.58%
Equity / Assets	5.95%	6.07%	6.14%	5.99%	5.85%	5.34%	5.79%	5.64%	5.74%	5.86%
Book Value / Share	44.11	47.93	50.48	55.12	58.05	60.73	69.22	76.94	82.69	89.97
NII Growth	4.64%	11.92%	3.68%	4.74%	10.01%	5.5%	-4%	13.57%	10.62%	11.24%
Dividend Payout	45.98%	48.02%	46.46%	45.48%	46.85%	55.4%	40.03%	44.07%	37.99%	40.89%

Revenue by Geography

	2018	2019	2020	2021	2022	2024
CANADA	25.77B	28.41B	27.7B	29.4B	29.27B	35.85B
CANADA Growth	-	10.24%	-2.52%	6.16%	-0.45%	22.47%
UNITED STATES	9.7B	10.47B	11.73B	12.53B	11.79B	15.03B
UNITED STATES Growth	-	7.97%	12.08%	6.78%	-5.93%	27.55%

Frequently Asked Questions

Valuation & Price

Royal Bank of Canada (RY) has a price-to-earnings (P/E) ratio of 15.1x. This is roughly in line with market averages.

Growth & Financials

Royal Bank of Canada (RY) grew revenue by 18.5% over the past year. This is strong growth.

Yes, Royal Bank of Canada (RY) is profitable, generating $19.15B in net income for fiscal year 2024 (12.1% net margin).

Dividend & Returns

Yes, Royal Bank of Canada (RY) pays a dividend with a yield of 2.77%. This makes it attractive for income-focused investors.

Royal Bank of Canada (RY) has a return on equity (ROE) of 13.4%. This is reasonable for most industries.

Industry Metrics

Royal Bank of Canada (RY) has a net interest margin (NIM) of 1.3%. NIM has been under pressure due to interest rate environment.

Royal Bank of Canada (RY) has an efficiency ratio of 25.6%. This is excellent, indicating strong cost control.

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