Royal Bank of Canada

RY.TOTSXFinancial Services● Active

$273.04

+$2.44(+0.90%)

Market Cap$381.3B

P/E Ratio—

52W High$273.64

52W Low$173.39

Avg Volume3.7M

Open$271.76

Beta0.94

Overview

Royal Bank of Canada (RY.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

RY.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

RY.TO · FCF · TTM · margin & CAGR

Free cash flow was $52.98B for FY2025 (fiscal year ending 2025-10-31), up 154.0% year-over-year The FCF margin was 38.6%. Five-year CAGR stands at -17.2%.

FY2025 Free Cash Flow$52.98B▲ +154.0% YoY

Trailing 12M (TTM)$71.25Btrailing 4 quarters sum

FCF Margin38.6%$52.98B ÷ revenue

3-Year CAGR+39.7%FY2022 → FY2025

5-Year CAGR-17.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

RY.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$55.22B(2.24B)$52.98B▲ +154.0%38.6%

FY2024$23.14B(2.28B)$20.86B▼ 10.7%38.5%

FY2023$26.08B(2.73B)$23.35B▲ +20.1%47.6%

FY2022$21.94B(2.50B)$19.44B▼ 67.0%40.1%

FY2021$61.04B(2.19B)$58.86B▼ 56.8%116.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

RY.TO · P/FCF · FCF yield · FCF per share

Royal Bank of Canada (RY.TO) trades at a FCF yield of 18.67% and a price-to-free-cash-flow ratio of 5.4x. FCF per share stands at $50.57, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

18.67%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$50.57

TTM FCF ÷ Shares Outstanding

Price / FCF

x5.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x10.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-10-31

Cash flow statement summary

RY.TO · cash flow statement · operating / investing / financing

For FY2025, Royal Bank of Canada generated $55.22B in operating cash flow and spent 2.24B in capital expenditures, yielding $52.98B in free cash flow.

Operating Activities

+$55.22B

Cash from core business operations

2025-10-31

Investing Activities

−$68.57B

CapEx, acquisitions & investments

2025-10-31

Financing Activities

−$6.71B

Buybacks, dividends & debt

2025-10-31

FCF FormulaOperating CF ($55.22B) − |CapEx| (2.24B) = FCF ($52.98B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

RY.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Royal Bank of CanadaYOU

RY.TO

$52.98B+154.0%38.6%

53%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Royal Bank of Canada (RY.TO) reported free cash flow of $52.98B for FY2025 (fiscal year ending 2025-10-31), up 154.0% year-over-year. The FCF margin was 38.6%.

Based on available data, Royal Bank of Canada has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $136.19B in FY2020. The 5-year CAGR stands at -17.2%.

Royal Bank of Canada's FCF yield is 18.67% and price-to-FCF ratio is 5.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

RY.TO free cash flow · 8 questions

Royal Bank of Canada free cash flow was $52.98B for FY2025, up 154.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $71.25B.

RY.TO free cash flowRY.TO FCFRY.TO FCF 2025RY.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Royal Bank of Canada · Royal Bank of Canada SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026