Royal Bank of Canada
Financial Performance
Royal Bank of Canada Revenue & Financials
Revenue
~$48B (FY2025)
Market Cap
$285.6B
Net Income
~$14.7B
Employees
97,795
What is Royal Bank of Canada's revenue?
Royal Bank of Canada had ~$48B in revenue for fiscal year 2025, up 23.1% from 2024. Net income was ~$14.7B.
- Latest revenue
- ~$48B (FY2025)
- Year-over-year
- +23.1%
- Growth rate (CAGR)
- 7.2% over 4 years
- Peak revenue
- ~$48B (FY2025)
- Years of data
- 5
- Employees
- 97,795
- How much profit does Royal Bank of Canada make?
- Royal Bank of Canada reported net income of ~$14.7B for fiscal year 2025. rbc.com
- How many employees does Royal Bank of Canada have?
- Royal Bank of Canada has about 97,795 employees.
Financial Analysis
RBC's earnings have climbed sharply since the HSBC Canada deal closed in March 2024. Fiscal 2025 net income was ~$14.7 billion (C$20.4 billion) (diluted EPS C$14.07, both up 25%), adjusted net income was ~$15 billion (C$20.9 billion), and pre-provision, pre-tax earnings rose 30% to about $21.6 billion (C$30 billion). Momentum continued into fiscal 2026: Q1 net income was a then-record ~$4.18 billion (C$5.8 billion), and Q3 (quarter ended July 31, 2026) set a new record of ~$4.34 billion (C$6.024 billion), up 11% year over year, with revenue up 9% to about $13.3 billion (C$18.5 billion). Royal Bank of Canada (RBC) is the absolute largest bank in Canada by market capitalization and one of the largest globally, commanding a massive market valuation generally exceeding $140 billion.
Revenue Trend Analysis
YoY Change
+23.1%
4-Year CAGR
+7.2%
Peak Year
2025
Trend
Consistent Growth
Royal Bank of Canada has 5 full fiscal year figures on this page, compounding at +7.2% annually over 4 years. The most recent year saw a 23.1% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at ~$48B. Of 4 comparable year-over-year steps, 3 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$48B | ~$14.7B | +23.1% | Royal Bank of Canada Q4 and fiscal 2025 results Fiscal year ended 2025-10-31. Reported total revenue (~$48B (C$66.6B), up from ~$41.3B (C$57.3B)). Earlier years in this table use S&P Global's net-of-interest-expense revenue definition and are not directly comparable. |
| FY2024 | ~$39B | ~$11.5B | +10.4% | Royal Bank of Canada (TSX:RY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-10-31. Revenue is net of interest expense (S&P Global definition) and can differ from the bank's reported total income. |
| FY2023 | ~$35.3B | ~$10.3B | +1.0% | Royal Bank of Canada (TSX:RY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-10-31. Revenue is net of interest expense (S&P Global definition) and can differ from the bank's reported total income. |
| FY2022 | ~$34.9B | ~$11.2B | -3.9% | Royal Bank of Canada (TSX:RY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-10-31. Revenue is net of interest expense (S&P Global definition) and can differ from the bank's reported total income. |
| FY2021 | ~$36.3B | ~$11.4B | — | Royal Bank of Canada (TSX:RY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2021-10-31. Revenue is net of interest expense (S&P Global definition) and can differ from the bank's reported total income. |
Click any row to see year details.
Royal Bank of Canada balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 40-F, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Oct 31, 2025 | ~$39.8B | ~$1.67T | ~$1.57T | ~$100.1B | Form 40-F |
Keep researching Royal Bank of Canada
Royal Bank of Canada Revenue and Financial FAQ
What was Royal Bank of Canada's consolidated revenue and net income for FY2025?
For the year ended October 31, 2025, Royal Bank of Canada reported total revenue of C.6 billion (up from C.3 billion in fiscal 2024) and net income of C.4 billion, up 25%, helped by a full year of HSBC Bank Canada, higher net interest income and stronger wealth and capital markets fees.
What is Royal Bank of Canada's market capitalization and equity valuation profile?
Royal Bank of Canada carries a market capitalization typically between $210 billion and $235 billion CAD ($155B, $175B USD), making it the most valuable public company in Canada and one of the top 10 largest banks by market cap in the world.
What is Royal Bank of Canada's dividend yield and dividend history?
RBC has an unbroken dividend payment track record dating back to 1870 (over 150 consecutive years). The bank pays a generous quarterly cash dividend targeting a payout ratio between 40% and 50% of net income, typically offering an attractive 3.8% to 4.5% dividend yield.
What is RBC's Common Equity Tier 1 (CET1) capital ratio?
RBC maintains an industry-leading Common Equity Tier 1 (CET1) capital ratio consistently above 12.8% to 13.2%, far exceeding OSFI's regulatory minimum requirements and providing a large fortress balance sheet cushion.
What credit ratings do Royal Bank of Canada's senior debt instruments hold?
RBC holds some of the highest credit ratings of any commercial bank globally, including 'AA-' from S&P Global Ratings, 'Aa1' from Moody's, 'AA' from DBRS Morningstar, and 'AA' from Fitch Ratings, reflecting outstanding liquidity and solvency.
How does RBC manage Provision for Credit Losses (PCL) across economic cycles?
RBC maintains conservative credit provisioning models, allocating prudent PCL reserves to manage potential commercial loan impairments and residential mortgage delinquencies during macroeconomic interest rate fluctuations.
What is RBC's Return on Equity (ROE) performance?
RBC consistently delivers an industry-leading Return on Equity (ROE) between 14.5% and 16.5%, significantly outperforming global European and US universal banking peers due to its dominant, high-margin Canadian retail banking franchise.
How much did the HSBC Bank Canada acquisition contribute to RBC's balance sheet?
The $13.5 billion CAD acquisition of HSBC Canada added $130 billion in assets, $72 billion in loans, and $82 billion in deposits, projected to generate over $740 million CAD in annual pre-tax cost synergies.
What is Royal Bank of Canada’s annual revenue and net income scale?
RBC generates approximately CAD $50 billion to $55+ billion in annual total revenues and consistently produces CAD $15 billion to $16+ billion in net income, making it the most profitable corporation in Canada.
What is RBC’s historical Return on Equity (ROE)?
RBC consistently generates elite returns on equity, typically sustaining a premium ROE between 14% and 17%, well above the global banking industry average.
What is RBC’s Common Equity Tier 1 (CET1) capital ratio?
RBC maintains a robust fortress balance sheet with a CET1 ratio consistently above 12.5% to 13.0%, far exceeding Canadian (OSFI) and Basel III global regulatory minimums.
What is Royal Bank of Canada’s dividend track record?
RBC is a Canadian dividend aristocrat that has paid dividends continuously since 1870, maintaining a target dividend payout ratio of 40% to 50% of earnings and increasing dividends twice annually in normal operating environments.
How does interest rate movement impact RBC’s net interest margin (NIM)?
Higher benchmark central bank interest rates expand net interest margins on RBC’s massive low-cost core deposit base, significantly boosting total Net Interest Income.
What is RBC’s Provision for Credit Losses (PCL) management strategy?
RBC employs conservative credit underwriting in residential mortgages (with average loan-to-value ratios below 55%) and provisions prudent credit reserves across economic cycles, resulting in historically low actual loan write-offs.
What are RBC’s credit ratings from global rating agencies?
RBC holds elite credit ratings—including AA- from S&P, Aa1 from Moody’s, and AA from DBRS—ranking among the highest-rated banks in the global financial system.
How does RBC allocate capital across M&A and organic growth?
RBC prioritizes organic business investment, technology modernization (investing over $3B annually in IT and digital), accretive strategic acquisitions (like HSBC Canada), and returning excess capital to shareholders via dividends and share buybacks.
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CorpDigest. "Royal Bank of Canada Revenue & Financials." CorpDigest, https://corpdigest.com/company/rbc/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Royal Bank of Canada reported ~$48B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/rbc/financials" target="_blank" rel="noopener">CorpDigest — Royal Bank of Canada financials</a></div>Related Financial Audits
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