Royal Bank of Canada
Combines Canadian personal and commercial banking with global wealth, insurance and capital-markets franchises.
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Profile
Serves households and businesses through Personal Banking and Commercial Banking, alongside Wealth Management, Insurance and Capital Markets. Canadian lending anchors the balance sheet, while advice, asset management, investor services, private banking and institutional markets extend the franchise across the United States and global financial centres.
Runs Personal Banking and Commercial Banking as separate Canadian-focused franchises, with Wealth Management, Insurance and Capital Markets completing the five-segment structure. Products span deposits, lending, payments, advice, asset management, insurance, investment banking and trading.
Uses the RBC master brand to connect client relationships across businesses. The United States platform combines RBC Capital Markets, U.S. Wealth Management and City National's private and commercial bank, while other wealth and institutional operations reach selected global financial centres.
Depends on Canadian credit and housing conditions, deposit funding and regulated capital. Wealth fees move with client assets and flows; insurance depends on claims and actuarial assumptions; capital markets depend on issuance, advisory and trading activity. HSBC Bank Canada integration adds continuing technology, data, credit and compliance execution requirements.
Company facts
Categories
Key statistics
Year to date +19.6% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 11, 2026 | Argus Research | Target | $120 | $225 | ||
| May 12, 2026 | Raymond James | Downgrade | Outperform | Mkt Perform | ||
| Dec 4, 2025 | TD Securities | Upgrade | Hold | Buy | ||
| Nov 25, 2025 | Jefferies | Downgrade | Buy | Hold | ||
| Sep 22, 2025 | Erste Group | Upgrade | Hold | Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 27, 2026Q3 FY26 | $2.89 | $3.07 | +6.2% | $12.98B | $13.22B | +1.8% | −1.29% |
| May 28, 2026Q2 FY26 | $2.81 | $2.84 | +1.1% | $12.74B | $12.84B | +0.8% | +0.34% |
| Feb 26, 2026Q1 FY26 | $2.81 | $2.94 | +4.6% | $12.85B | $13.18B | +2.5% | −1.53% |
| Dec 3, 2025Q4 FY25 | $2.51 | $2.76 | +10.0% | $12.52B | $17.20B | +37.3% | +2.48% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $23.43B | $24.97B | $25.06B | $25.49B | $24.41B | $27.80B | |
| Gross profit | $10.24B | $11.57B | $11.65B | $12.11B | $11.88B | $14.24B | |
| Operating income | $3.97B | $4.94B | $4.91B | $5.33B | $5.11B | $5.58B | |
| Net income | $3.16B | $3.90B | $3.91B | $4.16B | $3.96B | $4.33B | |
| Diluted EPS | $2.17 | $2.70 | $2.70 | $2.90 | $2.77 | $3.04 | |
| Gross margin | 43.7% | 46.3% | 46.5% | 47.5% | 48.7% | 51.2% | |
| Operating margin | 16.9% | 19.8% | 19.6% | 20.9% | 20.9% | 20.1% |
Fiscal years (4-quarter sums)FY21 $41.49B · FY22 $48.14B · FY23 $81.86B · FY24 $96.74B · FY25 $98.81B
Revenue by geography · FY25
Balance sheet, Jul 31, 2026Cash & short-term investments $46.16B · Total debt $9.52B · Total assets $1.80T · Shareholders' equity $104.38B
Dividends
Raised for 10 straight years — most recently to $1.2472 from $1.1986 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 27, 2026 | Jul 27 | Aug 24 | $1.2472 | raised from $1.1986 |
| Apr 23, 2026 | Apr 23 | May 22 | $1.1986 | cut from $1.1988 |
| Jan 26, 2026 | Jan 26 | Feb 24 | $1.1988 | raised from $1.1002 |
| Oct 27, 2025 | Oct 27 | Nov 24 | $1.1002 | cut from $1.1286 |
| Jul 24, 2025 | Jul 24 | Aug 22 | $1.1286 | raised from $1.0655 |
| Apr 24, 2025 | Apr 24 | May 23 | $1.0655 | raised from $1.0295 |
| Jan 27, 2025 | Jan 27 | Feb 24 | $1.0295 | raised from $1.0248 |
| Oct 24, 2024 | Oct 24 | Nov 22 | $1.0248 | cut from $1.0267 |
Ownership
Shares outstanding 1.39B · Float 1.39B · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 70.67M | 5.00% | 13G | Jul 17, 2025 |
| Royal Bank of Canada | 70.22M | 5.05% | 13F | Aug 14, 2026 |
| Bank of Montreal /Can/ | 60.57M | 4.36% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 42.68M | 3.07% | 13F | Aug 13, 2026 |
| FIL Ltd | 23.49M | 1.69% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Toronto-Dominion Bank
Broad Canadian banking, wealth, insurance and wholesale overlap
- Bank of Montreal
Canadian universal-bank peer with major U.S. banking operations
- Scotiabank
Canadian banking, wealth and markets peer with international reach
- CIBC
Full Canadian banking overlap plus wealth and capital markets
- JPMorgan Chase
Global rival across investment banking, markets, payments and wealth
- Bank of America
U.S. wealth, commercial banking and institutional-markets rival
- Morgan Stanley
Focused rival in global wealth, asset management and securities
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Royal Bank of Canada | $204.20 | −0.03% | $283.83B | 17.9 | 16.3 | 2.8 | −22.1% |
| Toronto-Dominion Bank | $120.19 | −0.90% | $204.85B | 18.1 | 15.8 | 2.5 | −22.1% |
| Bank of Montreal | $171.86 | −0.04% | $120.37B | 19.6 | 14.7 | 2.2 | −20.6% |
| Scotiabank | $92.09 | −0.31% | $112.63B | 16.8 | 13.8 | 2.2 | −42.3% |
| CIBC | $114.24 | −0.10% | $105.94B | 15.3 | 14.4 | 2.3 | −17.4% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Bank of America | $62.30 | −0.04% | $442.26B | 14.4 | 12.7 | 2.3 | +19.3% |
| Morgan Stanley | $214.50 | −0.13% | $338.75B | 17.5 | 16.3 | 2.7 | +36.8% |
| Median | 16.8 | 14.7 | 2.3 | −17.4% |