Last 46 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Royal Bank of Canada's quarterly P/E stands at 9.8x, down 6.0% year-over-year. EV/EBITDA has compressed 8.3% YoY to 31.4x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 17.58 | 9.77 | 8.56 | 9.92 | 8.61 | 10.39 | 9.04 | 8.83 | 9.76 | 6.89 | 9.08 | 9.62 | 11.48 |
| — | -6.0% | -5.3% | +12.3% | -11.8% | +50.8% | -0.4% | -8.2% | -14.9% | -18.4% | -6.5% | +12.8% | +14.3% | |
| P/S Ratio | 2.53 | 1.48 | 1.30 | 1.30 | 1.23 | 1.26 | 1.15 | 1.03 | 1.04 | 0.90 | 1.17 | 1.29 | 1.34 |
| — | +17.3% | +13.6% | +25.8% | +17.8% | +40.9% | -2.1% | -20.2% | -22.3% | -40.9% | -41.7% | -50.3% | -50.1% | |
| P/B Ratio | 2.51 | 1.48 | 1.34 | 1.28 | 1.30 | 1.35 | 1.27 | 1.13 | 1.18 | 0.97 | 1.23 | 1.24 | 1.31 |
| — | +10.3% | +5.0% | +13.5% | +9.9% | +38.5% | +3.3% | -9.2% | -10.3% | -18.1% | -6.2% | -9.3% | -17.5% | |
| P/FCF | 6.55 | — | 1.59 | 4.52 | 1.42 | 2.59 | 1.76 | — | — | — | 4.08 | 3.60 | 2.06 |
| — | — | -9.6% | — | — | — | -56.9% | — | — | — | +49.9% | -98.1% | -60.1% | |
| EV / EBITDA | 38.10 | 31.45 | 28.24 | 33.19 | 28.47 | 34.29 | 32.46 | 34.23 | 38.77 | 38.96 | 34.97 | 33.82 | 28.74 |
| — | -8.3% | -13.0% | -3.0% | -26.6% | -12.0% | -7.2% | +1.2% | +34.9% | +33.7% | +21.8% | +39.0% | +24.4% | |
| EV / EBIT | 42.67 | 34.93 | 31.40 | 37.88 | 31.90 | 39.69 | 37.07 | 39.25 | 44.79 | 46.27 | 40.35 | 39.21 | 32.52 |
| — | -12.0% | -15.3% | -3.5% | -28.8% | -14.2% | -8.1% | +0.1% | +37.7% | +39.0% | +22.8% | +43.5% | +25.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Royal Bank of Canada's operating margin was 19.6% in Q4 2025, down 0.2 pp QoQ and up 4.2 pp YoY. Gross margin expanded 10.7% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.3% | 46.5% | 46.3% | 43.7% | 44.5% | 42.0% | 40.7% | 39.4% | 39.2% | 40.1% | 41.8% | 44.4% | 48.4% |
| — | +10.7% | +13.7% | +10.8% | +13.5% | +4.5% | -2.5% | -11.2% | -19.0% | -30.2% | -39.8% | -47.4% | -43.4% | |
| Operating Margin | 18.7% | 19.6% | 19.8% | 16.9% | 18.3% | 15.4% | 15.6% | 14.9% | 13.2% | 13.0% | 15.6% | 16.7% | 19.8% |
| — | +27.4% | +26.9% | +13.9% | +38.7% | +18.0% | +0.0% | -10.8% | -33.5% | -43.2% | -42.0% | -57.0% | -44.3% | |
| Net Margin | 14.8% | 15.6% | 15.6% | 13.5% | 14.6% | 12.4% | 13.0% | 11.9% | 10.8% | 13.2% | 13.1% | 13.8% | 11.8% |
| — | +25.2% | +19.9% | +12.9% | +34.3% | -5.9% | -0.6% | -13.6% | -8.4% | -27.8% | -38.0% | -55.6% | -56.2% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.3% | 4.0% | 4.0% | 3.3% | 3.9% | 3.4% | 3.6% | 3.3% | 3.1% | 3.6% | 3.4% | 3.4% | 2.9% |
| — | +17.9% | +10.9% | -0.5% | +27.4% | -7.6% | +5.7% | -1.2% | +6.6% | -0.7% | +0.5% | -18.5% | -28.9% | |
| ROA | 0.9% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| — | +20.1% | +11.0% | +0.4% | +30.7% | -4.7% | +10.3% | +3.7% | +10.6% | +1.0% | +2.2% | -19.5% | -31.3% | |
| ROIC | 2.0% | 0.5% | 0.6% | 0.5% | 0.5% | 0.4% | 0.5% | 0.4% | 0.4% | 0.3% | 0.4% | 0.4% | 0.5% |
| — | +22.9% | +20.5% | +8.1% | +46.0% | +27.5% | +17.1% | +6.2% | -23.9% | -26.3% | -14.0% | -29.2% | -19.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Royal Bank of Canada's Debt/EBITDA ratio is 110.1x, up from 103.4x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.00 | 6.00 | 5.82 | 5.90 | 5.76 | 6.13 | 6.03 | 6.05 | 6.67 | 6.73 | 6.86 | 6.65 | 6.67 |
| — | -2.1% | -3.5% | -2.6% | -13.7% | -8.9% | -12.1% | -8.9% | -0.0% | +4.1% | +9.9% | +11.5% | +15.3% | |
| Debt / EBITDA | 29.06 | 110.08 | 103.36 | 124.05 | 106.46 | 129.15 | 122.40 | 130.33 | 154.71 | 160.24 | 145.50 | 143.63 | 121.38 |
| — | -14.8% | -15.6% | -4.8% | -31.2% | -19.4% | -15.9% | -9.3% | +27.5% | +27.2% | +16.7% | +37.6% | +24.2% | |
| Current Ratio | 0.13 | 0.13 | 0.30 | 0.29 | 0.28 | 0.14 | 0.25 | 0.25 | 0.29 | 0.18 | 0.31 | 0.29 | 0.29 |
| — | -2.7% | +18.4% | +15.9% | -1.6% | -24.9% | -16.8% | -16.4% | -0.9% | -12.3% | +10.1% | +7.2% | +3.6% | |
| Quick Ratio | 0.13 | 0.13 | 0.30 | 0.29 | 0.28 | 0.14 | 0.25 | 0.25 | 0.29 | 0.18 | 0.31 | 0.29 | 0.29 |
| — | -2.7% | +18.4% | +15.9% | -1.6% | -24.9% | -16.8% | -16.4% | -0.9% | -12.3% | +10.1% | +7.2% | +3.6% | |
| Interest Coverage | 0.36 | 0.39 | 0.39 | 0.33 | 0.35 | 0.28 | 0.27 | 0.26 | 0.23 | 0.23 | 0.28 | 0.31 | 0.40 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 46 years · Updated daily
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Royal Bank of Canada's current P/E is 17.6x. The average P/E over the last 4 quarters is 9.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Royal Bank of Canada's current operating margin is 18.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Royal Bank of Canada's business trajectory between earnings reports.