RY
Royal Bank of Canada
RY—
Royal Bank of Canada AI Insights
Informational only. Not investment advice.Snapshot
- Net margin TTM 30.6% vs industry median 25.8% - top-tier profitability among global banks with 20.4B net income on 66.5B revenue[Net Margin]
- FCF TTM 53B dwarfs industry median 95M - generates 560x peer median enabling 6.04 dividend per share (4.3% yield at current price)[Free Cash Flow]
- Goodwill 19.4B is only 15% of equity (127.4B) - minimal impairment risk vs peers with bloated intangibles[Goodwill]
Watch Triggers
- Net Margin: Falls below 25% — Would signal NIM compression or credit losses eroding core profitability advantage
- ROE: Drops below 14% — Below cost of equity destroys shareholder value - currently at 16.6%
- Debt to Equity: Exceeds 5.0x — Would indicate balance sheet stress requiring dilutive capital raise
Bull Case
Scale advantage: 2.3T total assets generates 66.5B revenue at 30.6% net margin - operating leverage unmatched by smaller peers
Total AssetsNet MarginTotal Revenue
Dividend sustainability: 53B FCF covers 8.5B dividend payout 6.2x - among safest yields in global banking
Free Cash FlowDividends Paid Per Share
Bear Case
Interest expense 70.8B exceeds total revenue 66.5B on gross basis - rate sensitivity extreme if funding costs rise further
Interest ExpenseTotal Revenue
Debt/equity 4.3x with 545B total debt - leverage amplifies downside in credit cycle deterioration
Debt to EquityTotal Debt
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
60%
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Forward Thesis
ROE expansion to 18%+ as capital deployment accelerates post-HSBC Canada integration
1-3ymed
- Current ROE 16.6% already above industry median 10%
- 5.2B capital raised TTM signals M&A capacity
- Tangible book 100.6B provides acquisition firepower
ROE TTM 16.6% vs median 10%Issuance of capital stock 5.2B TTMTangible book value 100.6B
Valuation Context
Caveats
Public Strategies Rankings
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RY Fundamentals
Finance and Insurance → Credit Intermediation and Related Activities
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$237.98B | — | ||
$696.03B | — | ||
12 | — | ||
$66.53B | +15.7% | — | |
$14.11 | +18.2% | — | |
0% | — | ||
30.6% | +2.4% | — | |
$52.98B | +154.0% | — | |
0.17 | +2.4% | — | |
Beta 5Y (Monthly) | unknown | — |
RY Dividend History
105 dividends
2026
$1.640001/26/26$1.6400
2025
$6.040010/27/25$1.5400
07/24/25$1.5400
04/24/25$1.4800
01/27/25$1.4800
2024
$5.600010/24/24$1.4200
07/25/24$1.4200
04/24/24$1.3800
01/24/24$1.3800
2023
$5.340010/25/23$1.3500
07/25/23$1.3500
04/24/23$1.3200
01/25/23$1.3200
2022
$4.960010/25/22$1.2800
07/25/22$1.2800
04/22/22$1.2000
01/25/22$1.2000
2021
$4.320010/25/21$1.0800
07/23/21$1.0800
04/21/21$1.0800
01/25/21$1.0800
2020
$4.290010/23/20$1.0800
07/24/20$1.0800
04/22/20$1.0800
01/24/20$1.0500
2019
$4.070010/23/19$1.0500
07/24/19$1.0200
04/24/19$1.0200
01/23/19$0.9800
2018
$3.770010/24/18$0.9800
07/25/18$0.9400
04/24/18$0.9400
01/25/18$0.9100
2017
$3.480010/25/17$0.9100
07/24/17$0.8700
04/21/17$0.8700
01/24/17$0.8300
2016
$3.240010/24/16$0.8300
07/22/16$0.8100
04/21/16$0.8100
01/22/16$0.7900
2015
$3.080010/22/15$0.7900
07/23/15$0.7700
04/21/15$0.7700
01/22/15$0.7500
2014
$2.840010/23/14$0.7500
07/22/14$0.7100
04/22/14$0.7100
01/23/14$0.6700
2013
$2.530010/22/13$0.6700
07/23/13$0.6300
04/23/13$0.6300
01/22/13$0.6000
2012
$2.280010/23/12$0.6000
07/24/12$0.5700
04/23/12$0.5700
01/24/12$0.5400
2011
$2.080010/24/11$0.5400
07/22/11$0.5400
04/21/11$0.5000
01/24/11$0.5000
2010
$1.972110/22/10$0.5000
07/22/10$0.4819
04/20/10$0.4902
01/22/10$0.5000
2009
$2.000010/22/09$0.5000
07/23/09$0.5000
04/21/09$0.5000
01/22/09$0.5000
2008
$1.985810/23/08$0.5000
07/22/08$0.5000
04/22/08$0.4955
01/22/08$0.4903
2007
$1.702110/23/07$0.5177
07/24/07$0.4387
04/23/07$0.4045
01/23/07$0.3412
2006
$1.264610/24/06$0.3555
07/24/06$0.3189
04/21/06$0.3126
01/24/06$0.2776
2005
$0.965810/21/05$0.2700
07/22/05$0.2499
04/21/05$0.2206
01/24/05$0.2253
2004
$0.826810/22/04$0.2600
07/22/04$0.1966
04/20/04$0.1933
01/22/04$0.1769
2003
$0.595910/23/03$0.1640
07/21/03$0.1528
04/21/03$0.1485
01/23/03$0.1306
2002
$0.482810/21/02$0.1271
07/22/02$0.1232
04/22/02$0.1208
01/22/02$0.1117
2001
$0.446710/22/01$0.1143
07/23/01$0.1167
04/20/01$0.1065
01/22/01$0.1092
2000
$0.385810/23/00$0.0993
07/21/00$0.1019
04/19/00$0.0912
01/21/00$0.0934
RY Stock Splits
2 stock splits
04/07/060.5:1 split
10/06/001:2 split
RY SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
12/03/25 | 10/31/25 | 40-F | |
08/27/25 | 07/31/25 | 6-K | |
05/29/25 | 04/30/25 | 6-K | |
02/27/25 | 01/31/25 | 6-K | |
12/03/24 | 10/31/24 | 40-F | |
08/27/24 | 07/31/24 | 6-K | |
05/29/24 | 04/30/24 | 6-K | |
02/27/24 | 01/31/24 | 6-K | |
11/29/23 | 10/31/23 | 40-F | |
08/24/23 | 07/31/23 | 6-K | |
05/24/23 | 04/30/23 | 6-K | |
03/01/23 | 01/31/23 | 6-K | |
11/29/22 | 10/31/22 | 40-F | |
08/24/22 | 07/31/22 | 6-K | |
05/26/22 | 04/30/22 | 6-K | |
02/25/22 | 01/31/22 | 6-K | |
12/01/21 | 10/31/21 | 40-F | |
08/25/21 | 07/31/21 | 6-K | |
05/27/21 | 04/30/21 | 6-K | |
02/24/21 | 01/31/21 | 6-K | |
12/02/20 | 10/31/20 | 40-F | |
08/26/20 | 07/31/20 | 6-K | |
05/27/20 | 04/30/20 | 6-K | |
02/21/20 | 01/31/20 | Quarterly | -- |
12/04/19 | 10/31/19 | 40-F | |
08/21/19 | 07/31/19 | 6-K | |
05/23/19 | 04/30/19 | 6-K | |
02/22/19 | 01/31/19 | 6-K | |
11/28/18 | 10/31/18 | 40-F | |
08/22/18 | 07/31/18 | 6-K | |
05/24/18 | 04/30/18 | 6-K | |
02/23/18 | 01/31/18 | 6-K | |
11/29/17 | 10/31/17 | 40-F | |
08/23/17 | 07/31/17 | 6-K | |
05/25/17 | 04/30/17 | 6-K | |
02/24/17 | 01/31/17 | 6-K | |
11/30/16 | 10/31/16 | 40-F | |
08/24/16 | 07/31/16 | 6-K | |
05/26/16 | 04/30/16 | 6-K | |
02/24/16 | 01/31/16 | 6-K | |
12/02/15 | 10/31/15 | 40-F | |
08/26/15 | 07/31/15 | 6-K | |
05/28/15 | 04/30/15 | 6-K | |
02/25/15 | 01/31/15 | 6-K | |
02/25/15 | 10/31/14 | 6-K | |
08/22/14 | 07/31/14 | 6-K | |
05/22/14 | 04/30/14 | 6-K | |
02/26/14 | 01/31/14 | 6-K | |
02/26/14 | 10/31/13 | 6-K | |
08/29/13 | 07/31/13 | 6-K | |
05/30/13 | 04/30/13 | 6-K | |
02/28/13 | 01/31/13 | 6-K | |
11/29/12 | 10/31/12 | 40-F | |
12/03/14 | 10/31/12 | 40-F | |
08/30/12 | 07/31/12 | 6-K | |
05/24/12 | 04/30/12 | 6-KP | -- |
03/01/12 | 01/31/12 | 6-K | |
12/05/13 | 10/31/11 | 40-F | |
12/02/11 | 10/31/11 | 40-F | |
08/26/11 | 07/31/11 | 6-K | |
05/27/11 | 04/30/11 | 6-K | |
03/03/11 | 01/31/11 | 6-K | |
12/03/10 | 10/31/10 | 40-F | |
08/26/10 | 07/31/10 | 6-K | |
05/27/10 | 04/30/10 | 6-K | |
03/03/10 | 01/31/10 | 6-K | |
12/04/09 | 10/31/09 | 40-F | |
08/27/09 | 07/31/09 | 6-K | |
05/29/09 | 04/30/09 | 6-K | |
01/31/09 | 01/28/09 | Unknown | -- |
12/05/08 | 10/31/08 | 40-F | |
07/31/08 | 07/31/08 | Unknown | -- |
04/30/08 | 04/30/08 | Unknown | -- |
01/31/08 | 01/29/08 | Unknown | -- |
11/30/07 | 10/30/07 | Unknown | -- |
07/31/07 | 07/31/07 | Unknown | -- |
04/30/07 | 04/30/07 | Unknown | -- |
01/31/07 | 01/28/07 | Unknown | -- |
11/30/06 | 10/30/06 | Unknown | -- |
07/31/06 | 07/31/06 | 6-K | |
04/30/06 | 04/30/06 | Unknown | -- |
01/31/06 | 01/28/06 | Unknown | -- |
11/30/05 | 10/30/05 | Unknown | -- |
07/31/05 | 07/31/05 | 6-K | |
04/30/05 | 04/30/05 | 6-K | |
01/31/05 | 01/28/05 | Unknown | -- |
12/20/04 | 10/30/04 | Unknown | -- |
07/31/04 | 07/31/04 | Unknown | -- |
04/30/04 | 04/30/04 | Unknown | -- |
01/31/04 | 01/29/04 | Unknown | -- |
12/29/03 | 10/30/03 | Unknown | -- |
07/31/03 | 07/31/03 | Unknown | -- |
04/30/03 | 04/30/03 | Unknown | -- |
01/31/03 | 01/31/03 | 6-K | |
12/27/02 | 10/30/02 | Unknown | -- |
07/31/02 | 07/31/02 | Unknown | -- |
04/30/02 | 04/30/02 | Unknown | -- |
01/31/02 | 01/28/02 | Unknown | -- |
10/31/01 | 10/30/01 | Unknown | -- |
07/31/01 | 07/31/01 | Unknown | -- |
04/30/01 | 04/30/01 | Unknown | -- |
01/31/01 | 01/28/01 | Unknown | -- |
10/31/00 | 10/30/00 | Unknown | -- |
07/31/00 | 07/31/00 | Unknown | -- |
04/30/00 | 04/30/00 | Unknown | -- |
01/31/00 | 01/29/00 | Unknown | -- |