Royal Bank Of Canada
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+ FollowMarket Cap$207.48B
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Earnings Call Q3 2026
August 27, 2026 - AI Summary
Record profitability + strong capital return (good): RBC reported record earnings of ~$6B, +11% YoY. Revenues +9% YoY and adjusted operating leverage +2.4% with adjusted efficiency ratio ~52%. ROE ~18% (nearly) and CET1 ~13.5% (stable), plus book value per share +10% YoY and 80 bps internal capital generation in the quarter. Capital deployed: 85 bps to grow the business, pay dividends, and repurchase shares. Total payout ratio rose to 69% as dividends move toward the medium-term target 40–50%.
Earnings drivers across the franchise (good): Segment strength was broad-based—Personal Banking Canada benefited from record revenue (+4% YoY) and sequential mortgage growth to 1.8%; Commercial Banking delivered record net income $936M (+12% YoY) with pre-provision, pre-tax earnings $1.5B and deposit growth +9% YoY; Capital Markets posted record net income $1.5B (+16% YoY) with IB fees +23% YoY and equities momentum plus improved efficiency; Wealth Management delivered record net income $1.4B (+32% YoY) on noninterest income +16% and AUA +20% (Canadian) / +14% (US).
Net interest income / trading mix details + expense pattern (surprising/neutral): All-bank net interest income +5% YoY; excluding trading, +7%, and even +11% after certain offsets/adjustments. NIM (ex-trading) declined sequentially 4 bps mainly due to Capital Markets mix and spreads (e.g., shift toward investment-grade loans). Trading net interest income down 27% YoY (-$178M)—a clear negative offset that was more than compensated by trading noninterest income. Expenses up (reflecting talent + tech + safety/soundness + digital/AI + marketing), but management still expects positive operating leverage.
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$42.10
79.9% downside
Current Fair Value
79.9% downsideOvervalued by 79.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $207.48 Billion |
|---|---|
| Enterprise Value | $156.55 Billion |
| Annual dividend | $4.90 |
| Dividend yield | 2.39% |
| Earnings per Share | $14.12 |
| Beta | 0.91 |
| Outstanding Shares | 989,094,000 |
Return
| Return on Equity | 15.68% |
|---|---|
| Return on Assets | 0.91% |
| Return on Invested Capital | 1.17% |
Valuation & Multiples
| P/E Ratio | 17.86 |
|---|---|
| PEG | 158.51 |
| Price to Sales | 1.46 |
| Price to Book Ratio | 1.44 |
| Enterprise Value to Revenue | 1.1 |
| Enterprise Value to EBIT | 5.4 |
| Enterprise Value to Net Income | 6 |
| Total Debt to Enterprise | 0.08 |
| Debt to Equity | 0.09 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 27, 2026
EPS Estimate
$2.89
Consensus analyst estimateRevenue Estimate
$12.98 B
Consensus analyst estimateNext Earnings Call
Expected Date
December 2, 2026
EPS Estimate
$2.95
Consensus analyst estimateRevenue Estimate
$13.35 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 61.61% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.34%▼ 58.17% |
|---|---|
| Total Invested | $4.69B▼ 96.40% |
| Investors Holding | 373▼ 664.00% |
About Royal Bank Of Canada
96,628 employees
CEO: David McKay
Royal Bank of Canada, established in 1864 and headquartered in Toronto, Canada, operates as a comprehensive global financial services enterprise. Its Personal & Commercial Banking division serves both individual clients and small to medi...