Financials Royal Bank of Canada

Equities

RY

CA7800871021

Banks

Market Closed - Toronto S.E. Other stock markets 04:26:23 2025-12-11 pm EST			5-day change	1st Jan Change
230.00 ^CAD	+0.99%		+2.65%	+32.70%

Dec. 11	CIBC Raises Price Target on Five Canadian Banks	MT
Dec. 10	Franco-Nevada Shares Rise After RBC Upgrade	MT

Projected Income Statement: Royal Bank of Canada

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	49,693	48,985	56,129	57,344	66,605	69,684	73,073	72,598
Change	-	-1.42%	14.58%	2.16%	16.15%	4.62%	4.86%	-0.65%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	19,878	20,593	21,897	24,646	30,668	32,199	34,935	-
Change	-	3.6%	6.33%	12.55%	24.43%	4.99%	8.5%	-
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	20,631	20,109	18,466	19,862	25,651	27,168	29,420	26,454
Change	-	-2.53%	-8.17%	7.56%	29.15%	5.92%	8.29%	-10.08%
Net income ¹	16,038	15,547	14,623	15,908	19,868	21,024	22,698	22,920
Change	-	-3.06%	-5.94%	8.79%	24.89%	5.82%	7.96%	0.98%
Announcement Date	12/1/21	11/30/22	11/30/23	12/4/24	12/3/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: October	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	12,943	11,618	12,756	12,376	13,066	11,220	12,132	12,567	15,094	13,520	14,489	13,026	13,485	14,154	14,631	15,074	16,739	15,672	16,985	17,209	17,443	16,999	17,759	17,888	18,237	17,704	18,550	18,649
Change	-	-10.24%	9.8%	-2.98%	5.58%	-14.13%	8.13%	3.59%	20.11%	-10.43%	7.17%	-10.1%	3.52%	4.96%	3.37%	3.03%	11.05%	-6.37%	8.38%	1.32%	1.36%	-2.55%	4.47%	0.73%	1.95%	-2.92%	4.78%	0.53%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,995	5,090	5,032	4,761	5,500	5,000	4,896	5,242	6,871	5,158	5,440	5,328	5,200	6,155	6,346	6,353	7,483	7,126	7,906	7,988	7,948	7,691	8,137	8,113	-	-	-	-
Change	-	1.9%	-1.14%	-5.39%	15.52%	-9.09%	-2.08%	7.07%	31.08%	-24.93%	5.47%	-2.06%	-2.4%	18.37%	3.1%	0.11%	17.79%	-4.77%	10.95%	1.04%	-0.51%	-3.23%	5.8%	-0.29%	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	4,885	5,186	5,572	4,988	5,384	5,308	4,556	4,861	5,342	4,420	4,633	4,071	4,348	4,926	5,373	5,215	6,433	5,518	6,872	6,828	6,890	6,727	7,146	7,170	7,344	7,058	7,534	7,524
Change	-	6.16%	7.44%	-10.48%	7.94%	-1.41%	-14.17%	6.69%	9.9%	-17.26%	4.82%	-12.13%	6.8%	13.29%	9.07%	-2.94%	23.36%	-14.22%	24.54%	-0.64%	0.91%	-2.37%	6.23%	0.33%	2.42%	-3.89%	6.76%	-0.15%
Net income ¹	3,787	3,938	4,237	3,887	4,039	4,253	3,517	3,809	3,168	3,581	3,812	4,062	3,522	3,881	4,377	4,128	5,011	4,274	5,290	5,293	5,321	5,146	5,472	5,445	5,693	5,444	5,822	5,823
Change	-	3.99%	7.59%	-8.26%	3.91%	5.3%	-17.31%	8.3%	-16.83%	13.04%	6.45%	6.56%	-13.29%	10.19%	12.78%	-5.69%	21.39%	-14.71%	23.77%	0.06%	0.52%	-3.29%	6.34%	-0.49%	4.55%	-4.36%	6.93%	0.02%
Announcement Date	2/24/21	5/27/21	8/25/21	12/1/21	2/24/22	5/26/22	8/24/22	11/30/22	3/1/23	5/25/23	8/24/23	11/30/23	2/28/24	5/30/24	8/28/24	12/4/24	2/27/25	5/28/25	8/27/25	12/3/25	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: Royal Bank of Canada

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	12/1/21	11/30/22	11/30/23	12/4/24	12/3/25	-	-	-

Estimates

Cash Flow Forecast: Royal Bank of Canada

Fiscal Period: October	2020	2021	2022	2023	2024	2025
CAPEX ¹	2,629	2,186	2,500	2,730	2,280	2,243
Change	-	-16.85%	14.36%	9.2%	-16.48%	-1.62%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	12/2/20	12/1/21	11/30/22	11/30/23	12/4/24	12/3/25

¹CAD in Million

Estimates

Forecast Financial Ratios: Royal Bank of Canada

Fiscal Period: October	2020	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	40%	42.04%	39.01%	42.98%	46.04%	46.21%	47.81%	-
EBT Margin (%)	-	41.52%	41.05%	32.9%	34.64%	38.51%	38.99%	40.26%	36.44%
Net margin (%)	-	32.27%	31.74%	26.05%	27.74%	29.83%	30.17%	31.06%	31.57%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	0.96%	0.87%	0.76%	0.83%	0.85%	0.88%	0.92%	0.8%
ROE	-	18.6%	16.4%	13.17%	15.5%	16.7%	16.29%	16.73%	16.29%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	4.32	4.96	5.34	5.6	6.04	6.671	7.29	7.925
Change	-	-	14.81%	7.66%	4.87%	7.86%	10.45%	9.29%	8.7%
Book Value Per Share ¹	-	64.57	72.85	84.01	89.85	91	97.65	105.2	111.1
Change	-	-	12.82%	15.32%	6.94%	1.28%	7.3%	7.7%	5.67%
EPS ¹	-	11.06	11.06	10.5	11.25	14.07	15.14	16.66	16.98
Change	-	-	0%	-5.06%	7.14%	25.07%	7.6%	10.03%	1.93%
Nbr of stocks (in thousands)	-	1,424,676	1,391,712	1,401,394	1,414,456	1,404,990	1,400,212	1,400,212	1,400,212
Announcement Date	-	12/1/21	11/30/22	11/30/23	12/4/24	12/3/25	-	-	-