ROYAL BANK OF CANADA financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data ROYAL BANK OF CANADA files with the SEC in its annual reports.

In CAD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	40,669	42,576	46,002	47,181	49,693	48,985	51,464	57,344	66,605
Pre-tax income	14,672	15,760	15,914	14,389	20,631	20,109	18,183	19,862	25,651
Income tax	3,203	3,329	3,043	2,952	4,581	4,302	3,571	3,622	5,282
Net income to minority interests	41	31	11	5	12	13	7	10	7
Net income	11,428	12,400	12,860	11,432	16,038	15,794	14,605	16,230	20,362
EPS, basic	7.59	8.39	8.78	7.84	11.08	11.08	10.33	11.27	14.10
EPS, diluted	7.56	8.36	8.75	7.82	11.06	11.06	10.32	11.25	14.07

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	28,407	30,209	26,310	118,888	113,846	72,397	61,989	56,723	37,024
Property, plant and equipment	2,670	2,832	3,191	7,934	7,424	7,214	6,749	6,852	6,819
Goodwill	10,977	11,137	11,236	11,302	10,854	12,277	12,594	19,286	19,405
Intangible assets	4,507	4,687	4,674	4,752	4,471	6,083	5,903	7,798	7,402
Total assets	1,212,853	1,334,734	1,428,935	1,624,548	1,706,323	1,917,219	2,006,531	2,171,582	2,325,006
Short-term debt						9,609	4,507		2,804
Total liabilities	1,138,425	1,254,779	1,345,310	1,537,781	1,607,561	1,809,044	1,891,384	2,044,390	2,185,855
Retained earnings	45,359	51,112	55,981	59,806	71,795	78,037	81,715	88,608	96,938
Shareholders' equity	73,829	79,861	83,523	86,664	98,667	108,064	115,048	127,089	139,092
Minority interests	599	94	102	103	95	111	99	103	59
Total equity	73,791	79,861	83,518	86,767	98,762	108,175	115,147	127,192	139,151
Total liabilities and equity	1,212,853	1,334,734	1,428,935	1,624,548	1,706,323	1,917,219	2,006,531	2,171,582	2,325,006

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	11,469	12,431	12,871	11,437	16,050	15,807	14,612	16,240	20,369
Depreciation and amortization	1,615	1,646	1,824	2,606	2,563	2,634	2,746	2,913	3,045
Cash from operations	37,725	17,474	14,265	138,819	61,044	21,942	26,079	23,139	55,220
Cash from investing	-15,458	-8,018	-11,126	-39,557	-57,348	-57,054	-28,265	-20,887	-68,569
Dividends paid	-5,309	-5,640	-6,025	-6,333	-6,420	-6,960
Cash from financing	-8,651	-7,720	-7,457	-7,746	-5,928	-2,185	-9,833	-8,146	-6,711
Exchange rate effect	-138	66	419	1,062	-2,810	-4,152	1,611	628	361
Net change in cash	13,478	1,802	-3,899	92,578	-5,042	-41,449	-10,408	-5,266	-19,699
Interest paid	8,803	13,513	19,984	13,058	7,555	13,677	54,698	73,639	70,976
Income taxes paid	4,708	5,818	2,977	2,880	4,198	7,326	4,964	3,410	6,087

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	38.5%	Pre-tax income / revenue.
Net margin	30.6%	Net income / revenue.
Operating cash flow margin	82.9%	Cash from operations / revenue.
Effective tax rate	20.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	15.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.9%	Net income / average total assets.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	16.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	25.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	8.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	25.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	8.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	12.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	138.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	36.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-16.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	94.0%	Total liabilities / total assets.
Goodwill and intangibles / assets	1.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	CA$112.29B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.03x	Revenue / average total assets.
Fixed asset turnover	9.74x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	CA$14.07	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	CA$14.10	Net income per basic share, as reported (split-adjusted).

What was ROYAL BANK OF CANADA's revenue in fiscal 2025?

ROYAL BANK OF CANADA reported revenue of CA$66.61B for fiscal 2025, 16.1% higher than the year before.

Was ROYAL BANK OF CANADA profitable in fiscal 2025?

Yes. Net income was CA$20.36B, a net margin of 30.6%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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