This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
Royal Bank of Canada TSX: RY NYSE:  RY www.rbc.com Fiscal Yr: Oct 31
Year 10/30/06 10/30/07 10/30/08 10/30/09 10/30/10 10/30/11 10/30/12 10/30/13 10/30/14 10/30/15 10/30/16 10/30/17 10/30/18 10/30/19 10/29/20 Value Description #Y Item Total G
Accting Rules C GAAP C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS
split 2
Revenue* $20,637 $22,462 $21,582 $29,106 $28,330 $27,430 $29,772 $30,867 $34,108 $35,321 $38,405 $40,669 $40,957 $40,957 $44,517 81.06% <-Total Growth 10 Revenue
Increase 7.5% 8.8% -3.9% 34.9% -2.7% -3.2% 8.5% 3.7% 10.5% 3.6% 8.7% 5.9% 0.7% 0.0% 6.12% <-IRR #YR-> 10 Revenue 81.06%
5 year Running Average $18,526 $19,568 $20,400 $22,597 $24,423 $25,782 $27,244 $29,101 $30,101 $31,500 $33,695 $35,874 $37,892 $39,262 6.44% <-IRR #YR-> 5 Revenue 36.60%
Revenue per Share $16.11 $17.60 $16.09 $20.53 $19.88 $19.07 $20.60 $21.42 $23.65 $24.46 $25.88 $28.00 $28.20 $28.20 6.25% <-IRR #YR-> 10 5 yr Running Average 83.33%
Increase 8.5% 9.2% -8.6% 27.6% -3.2% -4.1% 8.0% 4.0% 10.4% 3.4% 5.8% 8.2% 0.7% 0.0% 5.66% <-IRR #YR-> 5 5 yr Running Average 31.68%
5 year Running Average $14.25 $15.18 $15.74 $17.04 $18.04 $18.63 $19.23 $20.30 $20.92 $21.84 $23.20 $24.68 $26.04 $26.95 4.75% <-IRR #YR-> 10 Revenue per Share 59.08%
P/S (Price/Sales) Med 2.87 3.14 2.95 2.04 2.80 2.79 2.48 2.93 3.20 3.15 2.89 3.29 6.33% <-IRR #YR-> 5 Revenue per Share 35.92%
P/S (Price/Sales) Close 3.13 3.18 2.91 2.67 2.74 2.55 2.76 3.27 3.38 3.06 3.24 3.60 3.64 3.64 4.98% <-IRR #YR-> 10 5 yr Running Average 62.62%
*Total Revenue on Cdn GAAP P/S 10 yr  2.98 5 yr  3.27 11.35% Diff M/C 5.11% <-IRR #YR-> 5 5 yr Running Average 28.31%
-$22,462 $0 $0 $0 $0 $0 $0 $0 $0 $0 $40,669
-$29,772 $0 $0 $0 $0 $40,669
-$19,568 $0 $0 $0 $0 $0 $0 $0 $0 $0 $35,874
-$27,244 $0 $0 $0 $0 $35,874
-$17.60 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $28.00
-$20.60 $0.00 $0.00 $0.00 $0.00 $28.00
-$15.18 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $24.68
-$19.23 $0.00 $0.00 $0.00 $0.00 $24.68
pre-split 00
pre-split 06
EPS Basic $3.65 $4.24 $3.41 $2.59 $3.49 $3.21 $4.98 $5.60 $6.03 $6.75 $6.80 $7.59 79.01% <-Total Growth 10 EPS Basic
pre-split 00
pre-split 06
EPS Diluted* $3.59 $4.19 $3.38 $2.57 $3.46 $3.19 $4.93 $5.54 $6.00 $6.73 $6.78 $7.56 $7.95 $8.53 $9.22 80.43% <-Total Growth 10 EPS Diluted
Increase 40.0% 16.7% -19.3% -24.0% 34.6% -7.8% 54.5% 12.4% 8.3% 12.2% 0.7% 11.5% 5.2% 7.3% 8.1% 6.08% <-IRR #YR-> 10 Earnings per Share 80.43%
Earnings Yield 7.1% 7.5% 7.2% 4.7% 6.4% 6.6% 8.7% 7.9% 7.5% 9.0% 8.1% 7.5% 7.7% 8.3% 9.0% 8.93% <-IRR #YR-> 5 Earnings per Share 53.35%
5 year Running Average $2.49 $2.93 $3.17 $3.26 $3.44 $3.36 $3.51 $3.94 $4.62 $5.28 $6.00 $6.52 $7.00 $7.51 $8.01 8.32% <-IRR #YR-> 10 5 yr Running Average 122.37%
10 year Running Average $1.98 $2.27 $2.48 $2.61 $2.78 $2.92 $3.22 $3.55 $3.94 $4.36 $4.68 $5.01 $5.47 $6.07 $6.64 13.22% <-IRR #YR-> 5 5 yr Running Average 86.02%
* Diluted ESP per share  E/P 10 Yrs 7.50% 5Yrs 7.91%
-$4.19 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.56
-$4.93 $0.00 $0.00 $0.00 $0.00 $7.56
-$2.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.52
-$3.51 $0.00 $0.00 $0.00 $0.00 $6.52
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Pre-spit '00
Pre-split 06
Dividend* $1.36 $1.72 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $3.40 $3.64 $3.64 $3.64 97.67% <-Total Growth 10 Dividends
Increase 15.74% 26.47% 16.28% 0.00% 0.00% 4.00% 9.62% 7.89% 12.20% 10.14% 5.26% 6.25% 7.06% 0.00% 0.00% Count 31 Years of data
Average Increases 5 Year Running 14.57% 17.83% 18.45% 14.97% 11.70% 9.35% 5.98% 4.30% 6.74% 8.77% 9.02% 8.35% 8.18% 5.74% 3.71% 8.90% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.03 $1.23 $1.45 $1.65 $1.82 $1.96 $2.07 $2.16 $2.32 $2.52 $2.75 $2.97 $3.21 $3.38 $3.50 142.61% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 2.94% 3.11% 4.22% 4.77% 3.59% 3.92% 4.46% 3.92% 3.65% 3.95% 4.28% 3.69% 3.59% 3.93% <-Median-> 10 Dividends
Yield on High  Price 2.67% 2.82% 3.58% 3.45% 3.20% 3.42% 3.88% 3.50% 3.32% 3.65% 3.79% 3.33% 3.54% 3.48% <-Median-> 10 Dividends
Yield on Low Price 3.28% 3.47% 5.12% 7.75% 4.09% 4.58% 5.25% 4.45% 4.06% 4.30% 4.92% 4.14% 3.65% 4.51% <-Median-> 10 Dividends
Yield on Close Price 2.70% 3.07% 4.27% 3.65% 3.68% 4.28% 4.00% 3.51% 3.45% 4.07% 3.82% 3.37% 3.55% 3.55% 3.55% 3.75% <-Median-> 10 Dividends
Payout Ratio EPS 37.88% 41.05% 59.17% 77.82% 57.80% 65.20% 46.25% 44.40% 46.00% 45.17% 47.20% 44.97% 45.79% 42.67% 39.48% 46.72% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 41.52% 41.77% 45.84% 50.66% 52.82% 58.37% 59.10% 54.95% 50.09% 47.82% 45.83% 45.57% 45.80% 45.06% 43.76% 50.37% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS -11.62% 11.27% 23.47% 38.30% 25.23% 28.94% -158.89% 48.95% 26.23% 18.18% 17.69% 13.09% 39.22% 36.80% 40.63% 24.35% <-Median-> 10 DPR CF
DPR CF 5 Yr Running -12.13% -24.45% -78.48% -149.20% 36.00% 22.21% 37.78% 45.22% 39.62% 33.19% 28.08% 19.47% 19.90% 21.16% 24.27% 30.64% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 33.55% 37.98% 51.85% 60.93% 45.71% 54.95% 35.02% 38.15% 40.29% 38.58% 42.47% 37.96% 39.22% 36.80% 40.63% 41.38% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 30.31% 33.44% 38.64% 43.81% 45.18% 49.42% 47.50% 44.34% 41.40% 40.10% 39.01% 39.45% 39.60% 38.86% 39.26% 42.60% <-Median-> 10 DPR CF WC 5 Yr Running
Median values 5 Yr Med 5 Yr Cl 3.92% 3.51% 5 Yr Med Payout 45.17% 18.18% 38.58% 6.17% <-IRR #YR-> 10 Dividends 97.67%
* Dividends per share  5 Yr Med and Cur. -9.52% 0.94% Last Div Inc ---> $0.79 $0.81 2.5% 8.15% <-IRR #YR-> 5 Dividends 49.12%
Dividends Growth 15 10.10% <-IRR #YR-> 15 Dividends 347.37%
Dividends Growth 20 11.14% <-IRR #YR-> 20 Dividends 794.74%
Dividends Growth 25 10.65% <-IRR #YR-> 25 Dividends 1072.41%
Dividends Growth 30 9.20% <-IRR #YR-> 30 Dividends 1246.53%
-$2.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.64
-$2.46 $0.00 $0.00 $0.00 $0.00 $3.64
Dividends Growth 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.64
Dividends Growth 20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.64
Dividends Growth 25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.64
Dividends Growth 30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.64
Historical Dividends Historical High Div 7.60% Low Div 2.26% Ave Div 4.93% Med Div 3.92% Close Div 3.66% Historical Dividends
High/Ave/Median Values Curr diff Exp. -53.34%     56.92% Exp. -28.07% Exp. -9.53% Exp. -3.19% High/Ave/Median 
Historical Dividends 1988 Historical High Div 6.45% Low Div 2.24% Ave Div 4.35% Med Div 3.80% Close Div 3.58% Historical Dividends
Future Dividend Yield Div Yd 5.46% earning in 5 Years at IRR of 9.00% Div Inc. 53.86% Future Dividend Yield
Future Dividend Yield Div Yd 8.40% earning in 10 Years at IRR of 9.00% Div Inc. 136.74% Future Dividend Yield
Future Dividend Yield Div Yd 12.92% earning in 15 Years at IRR of 9.00% Div Inc. 264.25% Future Dividend Yield
I am earning GC Div Gr 1074.19% 10/27/95 # yrs -> 23 1995 $7.26 Cap Gain 1313.91% I am earning GC
I am earning Div org yield 4.27% 10/30/18 Trading Div G Yrly 11.29% Div start $0.31 -4.27% 50.14% I am earning Div
Yield if held 5 yrs 5.74% 6.62% 7.04% 6.43% 5.50% 4.50% 4.12% 5.19% 6.59% 5.46% 6.02% 6.65% 5.80% 4.82% 4.73% 5.76% <-Median-> 10 Paid Median Price
Yield if held 10 yrs 14.67% 11.42% 10.69% 11.15% 10.50% 8.77% 8.77% 8.66% 8.87% 8.37% 6.93% 6.15% 7.67% 8.69% 6.54% 8.77% <-Median-> 10 Paid Median Price
Yield if held 15 yrs 22.67% 27.25% 31.45% 28.07% 27.94% 22.44% 15.14% 13.15% 15.38% 15.97% 13.49% 13.08% 12.81% 11.70% 10.02% 15.67% <-Median-> 10 Paid Median Price
Yield if held 20 yrs 34.67% 42.67% 51.10% 38.78% 35.21% 34.67% 36.12% 38.68% 38.73% 42.47% 34.52% 22.58% 19.45% 20.28% 19.12% 37.40% <-Median-> 10 Paid Median Price
Yield if held 25 yrs 53.03% 56.56% 62.86% 53.51% 53.52% 53.33% 53.86% 57.23% 51.08% 50.86% 53.52% <-Median-> 7 Paid Median Price
Yield if held 30 yrs 81.58% 84.34% 93.01% 70.58% 64.08% 82.96% <-Median-> 2 Paid Median Price
Cost covered if held 5 years 21.78% 23.57% 25.57% 26.52% 24.99% 21.21% 18.74% 22.81% 27.63% 22.66% 25.86% 29.09% 25.56% 22.39% 22.75% 25.28% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 83.24% 60.14% 56.73% 67.68% 71.30% 63.11% 63.44% 63.66% 63.73% 59.73% 50.95% 45.61% 56.62% 68.00% 54.13% 63.28% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 153.58% 168.63% 194.26% 197.37% 220.33% 188.97% 128.94% 114.55% 132.21% 137.58% 121.05% 120.63% 120.13% 118.10% 107.95% 134.89% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 269.79% 298.91% 352.35% 300.82% 303.26% 316.92% 332.75% 364.39% 359.87% 396.65% 337.21% 227.63% 200.27% 226.50% 229.60% 334.98% <-Median-> 10 Paid Median Price
Cost covered if held 25 years 519.63% 555.91% 628.81% 525.35% 525.44% 545.92% 568.16% 616.59% 597.30% 641.43% 545.92% <-Median-> 7 Paid Median Price
Cost covered if held 30 years 869.92% 924.53% 1038.65% 853.42% 833.89% 897.22% <-Median-> 2 Paid Median Price
Graham No. $36.46 $40.67 $39.92 $36.18 $43.19 $42.91 $55.18 $61.65 $67.46 $77.35 $81.30 $88.85 $91.12 $94.38 $98.12 118.46% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.27 1.36 1.19 1.16 1.29 1.24 0.93 1.02 1.12 1.00 0.92 1.04 1.11 1.08 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.40 1.50 1.40 1.60 1.45 1.42 1.07 1.14 1.23 1.08 1.04 1.15 1.13 1.19 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.14 1.22 0.98 0.71 1.13 1.06 0.79 0.90 1.01 0.91 0.80 0.92 1.10 0.92 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.38 1.38 1.17 1.51 1.26 1.13 1.03 1.14 1.19 0.97 1.03 1.14 1.13 1.09 1.05 1.14 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 38.25% 37.78% 17.35% 51.45% 25.94% 13.31% 3.20% 13.58% 18.61% -3.33% 3.08% 13.53% 12.65% 8.75% 4.60% 13.55% <-Median-> 10 Graham Price
Month, Year December Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Month, Year December
Price Close $55.50 $50.74 $36.10 $56.40 $52.32 $51.98 $59.88 $71.41 $80.24 $74.15 $90.87 $102.65 $102.65 $102.65 $102.65 102.31% <-Total Growth 10 Stock Price
Increase 24.69% -8.58% -28.85% 56.23% -7.23% -0.65% 15.20% 19.26% 12.37% -7.59% 22.55% 12.96% 0.00% 0.00% 0.00% 7.30% <-IRR #YR-> 10 Stock Price 102.31%
P/E 15.46 12.11 10.68 21.95 15.12 16.29 12.15 12.89 13.37 11.02 13.40 13.58 12.91 12.03 11.13 11.38% <-IRR #YR-> 5 Stock Price 71.43%
Trailing P/E 21.64 14.13 8.62 16.69 20.36 15.02 18.77 14.48 14.48 12.36 13.50 15.14 13.58 12.91 12.03 10.86% <-IRR #YR-> 10 Price & Dividend 155.40%
Median 10, 5 Yrs D.  per yr 3.56% 3.99% % Tot Ret 32.76% 25.94% Price Inc 12.96% P/E:  13.39 13.37 15.37% <-IRR #YR-> 5 Price & Dividend 125.04%
Price & Dividend 15 12.71% <-IRR #YR-> 15 Price & Dividend 356.95%
Price & Dividend 20 12.33% <-IRR #YR-> 20 Price & Dividend 640.99%
Price & Dividend 25 16.50% <-IRR #YR-> 25 Price & Dividend 2198.10%
Price & Dividend 30 17.03% <-IRR #YR-> 30 Price & Dividend 3962.97%
-$50.74 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $102.65
-$59.88 $0.00 $0.00 $0.00 $0.00 $102.65
-$50.74 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $106.05
-$59.88 $2.46 $2.76 $3.04 $3.20 $106.05
$1.36 $1.72 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $106.05
$1.36 $1.72 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $106.05
$1.36 $1.72 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $106.05
$1.36 $1.72 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $106.05
Month, Year October Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 Oct-18 Oct-19 Oct-20
Pre-spit '00
pre-split 06
Price Close $50.40 $56.04 $46.84 $54.80 $54.39 $48.62 $56.94 $70.02 $80.01 $74.77 $83.80 $100.87 $102.64 $102.64 $102.64 80.00% <-Total Growth 10 Stock Price
Increase 20.96% 11.19% -16.42% 16.99% -0.75% -10.61% 17.11% 22.97% 14.27% -6.55% 12.08% 20.37% 1.75% 0.00% 0.00% 6.05% <-IRR #YR-> 10 Stock Price 80.00%
P/E 14.04 13.37 13.86 21.32 15.72 15.24 11.55 12.64 13.34 11.11 12.36 13.34 12.91 12.03 11.13 12.12% <-IRR #YR-> 5 Stock Price 77.15%
Trailing P/E 19.65 15.61 11.18 16.21 21.16 14.05 17.85 14.20 14.44 12.46 12.45 14.88 13.58 12.91 12.03 9.44% <-IRR #YR-> 10 Price & Dividend 128.07%
Median 10, 5 Yrs D.  per yr 3.38% 4.14% % Tot Ret 35.85% 25.48% Price Inc 14.27% P/E:  13.34 12.64 16.26% <-IRR #YR-> 5 Price & Dividend 107.25%
-$56.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $100.87
-$56.94 $0.00 $0.00 $0.00 $0.00 $100.87
-$56.04 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $104.27
-$56.94 $2.46 $2.76 $3.04 $3.20 $104.27
Price Median H/L $46.20 $55.29 $47.44 $41.91 $55.69 $53.13 $51.09 $62.77 $75.59 $77.02 $74.75 $92.08 $101.35 66.54% <-Total Growth 10 Stock Price
Increase 27.17% 19.67% -14.20% -11.66% 32.87% -4.60% -3.83% 22.85% 20.43% 1.90% -2.95% 23.18% 10.06% 5.23% <-IRR #YR-> 10 Stock Price 66.54%
P/E 12.87 13.20 14.04 16.31 16.09 16.65 10.36 11.33 12.60 11.44 11.03 12.18 12.75 12.50% <-IRR #YR-> 5 Stock Price 80.23%
Trailing P/E 18.01 15.40 11.32 12.40 21.67 15.35 16.02 12.73 13.64 12.84 11.11 13.58 13.41 8.78% <-IRR #YR-> 10 Price & Dividend 115.26%
P/E on Run. 5 yr Ave 18.57 18.85 14.97 12.86 16.20 15.82 14.57 15.94 16.35 14.59 12.47 14.12 14.47 17.09% <-IRR #YR-> 5 Price & Dividend 113.78%
P/E on Run. 10 yr Ave 23.37 24.32 19.14 16.06 20.03 18.17 15.87 17.66 19.18 17.67 15.98 18.36 18.52 12.42 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 3.55% 4.59% % Tot Ret 40.39% 26.84% Price Inc 20.43% P/E:  12.39 11.44 Count 31 Years of data
-$55.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $92.08
-$51.09 $0.00 $0.00 $0.00 $0.00 $92.08
-$55.29 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $95.48
-$51.09 $2.46 $2.76 $3.04 $3.20 $95.48
High Month Mar May 07 Nov 07 Sep 09 May 10 Mar 11 Mar 12 Oct 13 Sep 14 Nov 14 Oct 16 Oct 17 Dec 17
Pre-spit '00
pre-split 06
Price High $51.00 $61.08 $55.84 $58.00 $62.42 $60.79 $58.78 $70.22 $83.11 $83.33 $84.50 $102.10 $102.85 67.16% <-Total Growth 10 Stock Price
Increase 22.40% 19.76% -8.58% 3.87% 7.62% -2.61% -3.31% 19.46% 18.36% 0.26% 1.40% 20.83% 0.73% 5.27% <-IRR #YR-> 10 Stock Price 67.16%
P/E 14.21 14.58 16.52 22.57 18.04 19.06 11.92 12.68 13.85 12.38 12.46 13.51 12.94 11.68% <-IRR #YR-> 5 Stock Price 73.70%
Trailing P/E 19.88 17.01 13.33 17.16 24.29 17.57 18.43 14.24 15.00 13.89 12.56 15.06 13.60 14.07 P/E Ratio Historical Median
Median 10, 5 Yrs 14.07 P/E Ratio Historical   Median Price Inc 18.36% P/E:  13.68 12.68 16.57 P/E Ratio Historical High
-$61.08 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $102.10
-$58.78 $0.00 $0.00 $0.00 $0.00 $102.10
-$61.08 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $105.50
-$58.78 $2.46 $2.76 $3.04 $3.20 $105.50
Low Month Nov Nov 06 Oct 08 Feb 09 Aug 10 Sep 11 Nov 11 Nov 12 Feb 14 Aug 15 Feb 16 Nov 16 Nov 17
Pre-spit '00
pre-split 06
Price Low $41.41 $49.50 $39.04 $25.82 $48.95 $45.46 $43.40 $55.31 $68.06 $70.71 $65.00 $82.06 $99.84 65.78% <-Total Growth 10 Stock Price
Increase 33.56% 19.55% -21.13% -33.86% 89.58% -7.13% -4.53% 27.44% 23.05% 3.89% -8.08% 26.25% 21.67% 5.18% <-IRR #YR-> 10 Stock Price 65.78%
P/E 11.53 11.81 11.55 10.05 14.15 14.25 8.80 9.98 11.34 10.51 9.59 10.85 12.56 13.59% <-IRR #YR-> 5 Stock Price 89.08%
Trailing P/E 16.14 13.79 9.32 7.64 19.05 13.14 13.61 11.22 12.29 11.79 9.66 12.10 13.21 10.40 P/E Ratio Historical Median
Median 10, 5 Yrs 10.40 P/E Ratio Historical   Median Price Inc 23.05% P/E:  10.68 10.51 7.36 P/E Ratio Historical Low
-$49.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $82.06
-$43.40 $0.00 $0.00 $0.00 $0.00 $82.06
-$49.50 $2.00 $2.00 $2.00 $2.08 $2.28 $2.46 $2.76 $3.04 $3.20 $85.46
-$43.40 $2.46 $2.76 $3.04 $3.20 $85.46
Debt- Deposits $697,227 $757,589 $789,635 Debt
Change 8.66% 4.23% 6.44% <-Median-> 2 Change
Debt/Market Cap Ratio 6.46 6.09 5.39 6.09 <-Median-> 3 Debt/Market Cap Ratio
Goodwill & Intangibles $7,485 $11,138 $11,422 $12,103 $15,804 $15,484 Intangibles Goodwill
Change 48.80% 2.55% 5.96% 30.58% -2.02% 5.96% <-Median-> 5 Change
Intangible/Market Cap Ratio 0.09 0.11 0.10 0.11 0.13 0.11 0.11 <-Median-> 6 Intangible/Market Cap Ratio
Market Cap $M $64,557 $71,522 $62,825 $77,685 $77,501 $69,934 $82,296 $100,903 $115,393 $107,964 $124,379 $146,517 $149,088 $149,088 $149,088 104.86% <-Total Growth 10 Market Cap
Diluted # of Share in Million 1,299.79 1,289.31 1,319.48 1,412.13 1,433.75 1,437.90 1,468.29 1,466.53 1,452.00 1,449.51 1,494.14 1,474.42 14.36% <-Total Growth 10 Diluted
Change -0.38% -0.81% 2.34% 7.02% 1.53% 0.29% 2.11% -0.12% -0.99% -0.17% 3.08% -1.32% 0.91% <-Median-> 10 Change
Basic # of Shares in Millions 1,279.96 1,273.18 1,305.71 1,398.68 1,420.72 1,430.72 1,442.17 1,443.74 1,442.55 1,442.94 1,485.88 1,466.99 15.22% <-Total Growth 10 Average
Change -0.27% -0.53% 2.56% 7.12% 1.58% 0.70% 0.80% 0.11% -0.08% 0.03% 2.98% -1.27% 0.75% <-Median-> 10 Change
Difference 0.1% 0.2% 2.7% 1.4% 0.3% 0.5% 0.2% -0.2% 0.0% 0.1% -0.1% -1.0% 0.14% <-Median-> 10 Difference
Pre-spit '00
Pre-split 06
# of Share in M 1280.89 1276.26 1341.26 1417.61 1424.92 1438.38 1445.30 1441.06 1442.23 1443.95 1484.23 1452.53 1452.53 1452.53 1452.53 1.30% <-IRR #YR-> 10 Shares 13.81%
Change -0.98% -0.36% 5.09% 5.69% 0.52% 0.94% 0.48% -0.29% 0.08% 0.12% 2.79% -2.14% 0.00% 0.00% 0.00% 0.10% <-IRR #YR-> 5 Shares 0.50%
CF fr Op $M -$14,996 $19,473 $11,432 $7,403 $11,294 $10,338 -$2,074 $7,242 $15,174 $24,149 $26,856 $37,725 $13,480 $14,366 $13,015 93.73% <-Total Growth 10 Cash Flow
Increase 49.22% 229.85% -41.29% -35.24% 52.56% -8.46% -120.06% 449.18% 109.53% 59.15% 11.21% 40.47% -64.27% 6.57% -9.40% DRIP SO, Buy Backs S. Issue
5 year Running Average -$11,033 -$6,533 -$2,338 -$1,243 $6,921 $11,988 $7,679 $6,841 $8,395 $10,966 $14,269 $22,229 $13,480 $14,366 $13,015 440.28% <-Total Growth 10 CF 5 Yr Running
CFPS -$11.71 $15.26 $8.52 $5.22 $7.93 $7.19 -$1.43 $5.03 $10.52 $16.72 $18.09 $25.97 $9.28 $9.89 $8.96 70.22% <-Total Growth 10 Cash Flow per Share
Increase 48.72% 230.33% -44.14% -38.73% 51.78% -9.32% -119.97% 450.21% 109.36% 58.96% 8.19% 43.54% -64.27% 6.57% -9.40% 6.84% <-IRR #YR-> 10 Cash Flow 93.73%
5 year Running Average -$8.52 -$5.01 -$1.85 -$1.11 $5.04 $8.82 $5.48 $4.79 $5.84 $7.60 $9.79 $15.27 $16.12 $15.99 $14.44 #NUM! <-IRR #YR-> 5 Cash Flow 1918.95%
P/CF on Med Price -3.95 3.62 5.57 8.03 7.03 7.39 -35.60 12.49 7.18 4.61 4.13 3.55 10.92 5.46% <-IRR #YR-> 10 Cash Flow per Share 70.22%
P/CF on Closing Price -4.30 3.67 5.50 10.49 6.86 6.76 -39.68 13.93 7.60 4.47 4.63 3.88 11.06 #NUM! <-IRR #YR-> 5 Cash Flow per Share 1909.89%
75.68% Diff M/C #NUM! <-IRR #YR-> 10 CFPS 5 yr Running 404.70%
Excl.Working Capital CF $20,188 -$13,693 -$6,258 -$2,750 -$5,059 -$4,893 $11,483 $2,051 -$5,294 -$12,771 -$15,674 -$24,714 $0 $0 $0 22.72% <-IRR #YR-> 5 CFPS 5 yr Running 178.36%
CF fr Op $M WC $5,192 $5,780 $5,174 $4,653 $6,235 $5,445 $9,409 $9,293 $9,880 $11,378 $11,182 $13,011 $13,480 $14,366 $13,015 125.10% <-Total Growth 10 Cash Flow less WC
Increase 28.61% 11.33% -10.48% -10.07% 34.00% -12.67% 72.80% -1.23% 6.32% 15.16% -1.72% 16.36% 3.60% 6.57% -9.40% 8.45% <-IRR #YR-> 10 Cash Flow less WC 125.10%
5 year Running Average $4,432 $4,723 $4,873 $4,967 $5,407 $5,457 $6,183 $7,007 $8,052 $9,081 $10,228 $10,949 $11,786 $12,683 $13,011 6.70% <-IRR #YR-> 5 Cash Flow less WC 38.28%
CFPS Excl. WC $4.05 $4.53 $3.86 $3.28 $4.38 $3.79 $6.51 $6.45 $6.85 $7.88 $7.53 $8.96 $9.28 $9.89 $8.96 8.77% <-IRR #YR-> 10 CF less WC 5 Yr Run 131.83%
Increase 29.88% 11.73% -14.82% -14.91% 33.31% -13.49% 71.97% -0.94% 6.23% 15.02% -4.39% 18.90% 3.60% 6.57% -9.40% 12.11% <-IRR #YR-> 5 CF less WC 5 Yr Run 77.07%
5 year Running Average $3.41 $3.66 $3.76 $3.77 $4.02 $3.97 $4.36 $4.88 $5.59 $6.29 $7.04 $7.53 $8.10 $8.71 $8.92 7.06% <-IRR #YR-> 10 CFPS - Less WC 97.79%
P/CF on Med Price 11.40 12.21 12.30 12.77 12.73 14.03 7.85 9.73 11.03 9.77 9.92 10.28 10.92 6.59% <-IRR #YR-> 5 CFPS - Less WC 37.59%
P/CF on Closing Price 12.43 12.37 12.14 16.70 12.43 12.84 8.75 10.86 11.68 9.49 11.12 11.26 11.06 10.38 11.46 7.48% <-IRR #YR-> 10 CFPS 5 yr Running 105.65%
*Operational Cash Flow per share CF/CF-WC P/CF Med 10 yr 6.30 5 yr  4.61 P/CF Med 10 yr 10.66 5 yr  9.92 3.79% Diff M/C 11.55% <-IRR #YR-> 5 CFPS 5 yr Running 72.71%
For Working capital I used total of 
-1276.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1452.53 Shares
-1445.30 0.00 0.00 0.00 0.00 1452.53 Shares
-$19,473 $0 $0 $0 $0 $0 $0 $0 $0 $0 $37,725 Cash Flow
$2,074 $0 $0 $0 $0 $37,725 Cash Flow
OPM 22.9% 21.0% 21.1% 13.3% 18.1% 17.3% 25.0% 27.0% 26.1% 28.1% 27.1% 28.1% 33.50% <-Total Growth 10 OPM
Increase 29.87% -8.12% 0.27% -37.20% 36.45% -4.30% 44.41% 7.97% -3.21% 7.57% -3.58% 3.72% Should increase  or be stable.
Diff from Ave. -10.4% -17.6% -17.4% -48.1% -29.2% -32.3% -2.2% 5.6% 2.2% 9.9% 6.0% 9.9% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (Net Income/Revenue) Ratio for banks OPM 10 Yrs 25.56% 5 Yrs 27.09% should be  zero, it is a   check on calculations
Current Assets $15,777 $18,888 $22,872 $24,931 $25,820 $35,142 $42,780 $61,069 Liquidity ratio of 1.5 and up, best
Current Liabilities (Other) $13,904 $15,045 $16,332 $12,411 $13,829 $17,982 $19,455 $19,154 1.91 <-Median-> 8 Ratio
Liquidity Ratio 1.13 1.26 1.40 2.01 1.87 1.95 2.20 3.19 2.01 <-Median-> 5 Ratio
Liq. with CF aft div 1.74 1.74 1.17 2.31 2.68 3.05 3.34 4.90 3.05 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.37 0.55 1.17 2.31 1.68 1.27 1.59 2.71 1.68 <-Median-> 5 Ratio
Banks usually have a ratio of 1.04 or 1.05
Assets $536,780 $600,346 $723,859 $654,989 $726,206 $751,702 $825,100 $860,819 $940,550 $1,074,208 $1,180,258 $1,212,853 Debt Ratio of 1.5 and up, best
Liabilities $514,657 $575,907 $693,101 $618,083 $684,999 $708,054 $779,072 $810,484 $886,047 $1,010,264 $1,108,646 $1,138,425 1.06 <-Median-> 10 Ratio
Debt Ratio 1.04 1.04 1.04 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.07 1.06 <-Median-> 5 Ratio
Total Book Value $22,123 $24,439 $30,758 $36,906 $41,207 $43,648 $46,028 $50,335 $54,503 $63,944 $71,612 $74,428 204.55% <-Total Growth 10 Book Value
NCI $2,256 $1,941 $1,761 $1,795 $1,813 $1,798 $595 $599
Book Value & Pref $22,123 $24,439 $30,758 $36,906 $38,951 $41,707 $44,267 $48,540 $52,690 $62,146 $71,017 $73,829 $73,829 $73,829 $73,829 202.10% <-Total Growth 10 Book Value
Preferred Shares $1,048 $2,044 $2,658 $4,811 $4,813 $4,813 $4,600 $4,600 $4,075 $5,100 $6,713 $6,413 213.75% <-Total Growth 10 Preferred Shares
Book Value $21,075 $22,395 $28,100 $32,095 $34,138 $36,894 $39,667 $43,940 $48,615 $57,046 $64,304 $67,416 $67,416 $67,416 $67,416 201.03% <-Total Growth 10 Book Value
Book Value per Share $16.45 $17.55 $20.95 $22.64 $23.96 $25.65 $27.45 $30.49 $33.71 $39.51 $43.32 $46.41 $46.41 $46.41 $46.41 164.50% <-Total Growth 10 Book Value per Share
Change 20.40% 6.65% 19.39% 8.07% 5.82% 7.06% 7.00% 11.10% 10.55% 17.20% 9.66% 7.13% 0.00% 0.00% 0.00% 9.41% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 2.81 3.15 2.26 1.85 2.32 2.07 1.86 2.06 2.24 1.95 1.73 1.98 2.08 P/BV Ratio Historical Median
P/B Ratio (Close) 3.06 3.19 2.24 2.42 2.27 1.90 2.07 2.30 2.37 1.89 1.93 2.17 2.21 2.21 2.21 10.22% <-IRR #YR-> 10 Book Value per Share 164.50%
Change 0.47% 4.26% -29.99% 8.26% -6.21% -16.51% 9.45% 10.69% 3.36% -20.27% 2.20% 12.36% 1.75% 0.00% 0.00% 11.08% <-IRR #YR-> 5 Book Value per Share 69.11%
Leverage (A/BK) 24.26 24.57 23.53 17.75 17.62 17.22 17.93 17.10 17.26 16.80 16.48 16.30 17.24 <-Median-> 10 A/BV
Debt/Equity Ratio 23.26 23.57 22.53 16.75 16.62 16.22 16.93 16.10 16.26 15.80 15.48 15.30 16.24 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.02 5 yr Med 1.98 9.41% Diff M/C
Comprehensive Income $4,496 $4,840 $5,326 $7,880 $8,806 $9,919 $13,179 $9,361 $11,362 Comprehensive Income
NCI $100 $99 $104 $98 $98 $94 $114 $55 $39 NCI
Shareholders $4,498 $4,335 $5,403 $4,396 $4,741 $5,222 $7,782 $8,708 $9,825 $13,065 $9,306 $11,323 161.20% <-Total Growth 10 Comprehensive Income
Increase -3.62% 24.64% -18.64% 7.85% 10.15% 49.02% 11.90% 12.83% 32.98% -28.77% 21.67% 12.8% <-Median-> 5 Comprehensive Income
5 Yr Running Average $4,675 $4,819 $5,509 $6,170 $7,256 $8,920 $9,737 $10,445 10.08% <-IRR #YR-> 10 Comprehensive Income 161.20%
ROE 21.3% 19.4% 19.2% 13.7% 13.9% 14.2% 19.6% 19.8% 20.2% 22.9% 14.5% 16.8% 7.79% <-IRR #YR-> 5 Comprehensive Income 45.50%
5Yr Median 19.2% 14.2% 14.2% 14.2% 19.6% 19.8% 19.8% 19.8% 12.17% <-IRR #YR-> 7 5 Yr Running Average #DIV/0!
Difference from NI 11.7% 30.1% 21.3% 19.7% 23.6% 47.6% -0.4% 9.4% 13.65% <-IRR #YR-> 5 5 Yr Running Average 89.61%
Median Values Diff 5, 10 yr 20.5% 19.7% 19.8% <-Median-> 5 Return on Equity
Current Liability Coverage Ratio 0.45 0.36 0.58 0.75 0.71 0.63 0.57 0.68   CFO / Current Liabilities
5 year Median 0.58 0.63 0.63 0.68 0.68 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 0.97% 0.96% 0.71% 0.71% 0.86% 0.72% 1.14% 1.08% 1.05% 1.06% 0.95% 1.07% CFO / Total Assets
5 year Median 0.97% 0.96% 0.93% 0.86% 0.86% 0.72% 0.72% 0.86% 1.05% 1.06% 1.06% 1.06% 1.1% <-Median-> 5 Return on Assets 
Return on Assets ROA 0.9% 0.8% 0.6% 0.6% 0.7% 0.6% 0.9% 1.0% 0.9% 0.9% 0.9% 0.9% Net  Income/Assets Return on Assets
5Yr Median 0.7% 0.7% 0.7% 0.7% 0.7% 0.6% 0.6% 0.7% 0.9% 0.9% 0.9% 0.9% 0.9% <-Median-> 5 Asset Efficiency Ratio
Return on Equity ROE 21.4% 19.3% 14.8% 10.5% 12.4% 10.9% 16.2% 16.6% 16.3% 15.5% 14.5% 15.4% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 16.6% 18.4% 18.4% 18.4% 14.8% 12.4% 12.4% 12.4% 16.2% 16.2% 16.2% 15.5% 15.5% <-Median-> 5 Return on Equity
Net Income $3,958 $5,223 $4,852 $7,539 $8,429 $9,004 $10,026 $10,458 $11,469 Net Income
NCI $100 $99 $104 $97 $98 $94 $101 $53 $41 NCI
Preferred Shareholders Preferred Shareholders
Shareholders $4,728 $4,728 $4,555 $3,858 $5,124 $4,748 $7,442 $8,331 $8,910 $9,925 $10,405 $11,428 $11,611 $12,343 141.71% <-Total Growth 10 Shareholders
Increase 39.59% 0.00% -3.66% -15.30% 32.81% -7.34% 56.74% 11.95% 6.95% 11.39% 4.84% 9.83% 1.60% 6.30% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $3,371 $3,737 $4,047 $4,251 $4,599 $4,603 $5,145 $5,901 $6,911 $7,871 $9,003 $9,800 $10,456 $11,142 9.23% <-IRR #YR-> 10 Net Income 141.71%
Operating Cash Flow -$14,996 $19,473 $11,432 $7,403 $11,294 $10,338 -$2,074 $7,242 $15,174 $24,149 $26,856 $37,725 8.96% <-IRR #YR-> 5 Net Income 53.56%
Investment Cash Flow -$43,235 -$36,390 -$44,653 $15,918 -$51,574 -$32,936 $3,765 $364 -$8,214 -$25,143 -$21,426 -$15,458 10.12% <-IRR #YR-> 10 5 Yr Running Ave. 162.21%
Total Accruals $62,959 $21,645 $37,776 -$19,463 $45,404 $27,346 $5,751 $725 $1,950 $10,919 $4,975 -$10,839 13.75% <-IRR #YR-> 5 5 Yr Running Ave. 90.46%
Total Assets $536,780 $600,346 $723,859 $654,989 $726,206 $751,702 $825,100 $860,819 $940,550 $1,074,208 $1,180,258 $1,212,853 Balance Sheet Assets
Accruals Ratio 11.73% 3.61% 5.22% -2.97% 6.25% 3.64% 0.70% 0.08% 0.21% 1.02% 0.42% -0.89% 0.21% <-Median-> 5 Ratio
EPS/CF Ratio 0.89 0.93 0.88 0.78 0.79 0.84 0.76 0.86 0.88 0.85 0.90 0.84 0.85 <-Median-> 10 EPS/CF Ratio
Chge in Closing Price 21.0% 11.2% -16.4% 17.0% -0.7% -10.6% 17.1% 23.0% 14.3% -6.5% 12.1% 20.4% 1.8% 0.0% 0.0% Count 32 Years of data
up/down down down down down Count 7 21.88%
Meet Prediction? % right Count 1 14.29%
Financial Cash Flow $57,711 $17,374 $39,198 -$25,783 $41,425 $29,174 -$4,200 -$4,449 -$5,284 -$4,430 -$3,134 -$8,651 C F Statement  Financial CF
Total Accruals $5,248 $4,271 -$1,422 $6,320 $3,979 -$1,828 $9,951 $5,174 $7,234 $15,349 $8,109 -$2,188 Accruals
Accruals Ratio 0.98% 0.71% -0.20% 0.96% 0.55% -0.24% 1.21% 0.60% 0.77% 1.43% 0.69% -0.18% 0.64% <-Median-> 10 Ratio
Net Cash Flow -$520 $457 $5,977 -$2,462 $1,145 $6,576 -$2,509 $3,157 $1,676 -$5,424 $2,296 $13,616 Net Cash Flow
Per share -$0.41 $0.36 $4.46 -$1.74 $0.80 $4.57 -$1.74 $2.19 $1.16 -$3.76 $1.55 $9.37 Per share
5 yr Running Average $1.13 $1.24 $1.82 $0.75 $0.70 $1.69 $1.27 $0.82 $1.40 $0.49 $0.12 $2.10 5 yr Running 
Cash $8,353 $9,330 $15,963 $12,617 $15,870 $17,421 $12,452 $14,929 $28,407 Cash
Cash per Share $5.89 $6.55 $11.10 $8.73 $11.01 $12.08 $8.62 $10.06 $19.56 Cash per Share
Percentage of Stock Price 10.75% 12.04% 22.83% 15.33% 15.73% 15.10% 11.53% 12.00% 19.39% 15.10% <-Median-> 5 % of Stock Price
Notes:
January 1, 2018.  Last estimates were for 2017, 2018 amd 2019 of $38150M, $40471M and $40381M for Revenue, $6.99, $7.43 and $8.32 for EPS, 
$8.20, $8.78 and $8.19 for CFPS and $10415M and $11098M for Net Income for 2017 and 2018.
January 07, 2017.  Last estimates were for 2016, 2017 and 2018 of $36383M, $38731M and $39482M for Revenue, $6.84, $7.28 and $7.74 for EPS, 
$8.08, $8.59 and $8.77 for CFPS and $9947M and $10554M for 2016 and 2017 for Net Income.
January 10, 2015.  Last estiamtes were for 2014, 2015 and 2016 of $31766M, $33530M and $33842M for Revenue, $3.85. $6.39 and $6.89 for EPS, 
$6.82, $7.43 and $6.98 for CFPS and $8470M, $9168M and $9854M for Net Income.
January  4, 2014.  Last estimates were for 2013 and 2014 of $31202M and $32761M for Revenue and $5.34 and $5.69 for EPS and $6.40 for CFPS for 2013.
January 6, 2013. Last estimates were for 2012 and 2013 at $28440M and $29468M Revenue, $4.61 and $5.01 EPS and $5.98 and $6.40 CF.
Dec 16, 2011.  Last estimates were for 2011 and 2012 at $4.44 and $4.67 for EPS and $4.46 and $5.94 for CF.
Dec 14, 2010.  At last review, I picked up estimates for 2010 and 2011 for earnings of $432 and $5.10 and cash flow of $6.70 and $9.20
Dec 17, 2009.  When I last reviewed this stock in Dec 2008, I picked up a earnings for 2009 of $4.35. Feb 2010 matched unaudited results with audited and found no change.
I have had this stock for a long time.  It has done what I expected for a solid financial stock.
Possiblity for more purchase, but a little high in price.
AR 2006.  Still doing well.
2005.  Still doing well.
2004.  Still doing well.
2003.  Note both this stock and RY's stock has increased in price re P/E and is at a 10 year high. 
This bank has been paying dividends since 1870.
Employee savings and share ownership plans RESSO
We offer many employees an opportunity to own our common shares through savings and share ownership plans. Under these plans, the employees can generally contribute between 1% and 10% of their annual 
salary or benefit base for commissioned based employees. For each contribution between 1% and 6%, we will match 50% of the employee contributions in our common shares. For the RBC Dominion Securities
Savings Plan, our maximum annual contribution is $4,500 per employee. For the RBC U.K. Share Incentive Plan, our maximum annual contribution is £1,500 per employee. In 2012, we contributed $75 million (2011 – $72 million), 
under the terms of these plans, towards the purchase of our common shares. As at October 31, 2012, an aggregate of 37 million common shares were held under these plans (October 31,
2011 – 36 million common shares; November 1, 2010 – 35 million common shares).
29/05/2008. RBC was taken to task earlier this year for not increasing its dividend in the midst of the liquidity crisis caused by ABCP/sub-prime mortgages (I am a shareholder of RBC). However, remember RBC didn’t make 
$5.4 billion in profits last year without knowing a thing or two about growing a business and managing risk. A temporary halt to dividend increases to an industry in flux is a good thing if it gives financial 
flexibility to ride the crisis out or to buy out a competitor on the cheap. Those who criticized RBC for not increasing their dividends also over-looked the fact that RBC made $4.5 billion worth of acquisitions 
in fiscal 2007; it was using its free cash to expand. Cash is king in a crisis. It allows you significant breathing space and buying opportunities so why limit yourself financially by increasing the dividend? There’s 
also some interesting speculation about RBC- it didn’t increase its dividend and has quietly raised over $1 billion in new financings (mostly through preference share issues)- what is it stock-piling cash for? 
Sector:
Bank, Financial Services
What should this stock accomplish?
Banks can be good money makers.  They tend to have good yields and moderate dividend growth.  Dividends grow very well over time.
Would I buy this company and Why.
I still value this stock and consider it a core stock of my portfolio.
Why am I following this stock. 
At the time I bought this stock it was on Mike Higgs' list of Canadian Dividend Growth Stocks and on the dividend lists I followed as were all the banks.
Why I bought this stock.
In 1995 I bought this stock and this is the second bank stock that I have bought. 
Dividends
Dividends are paid quarterly in Cycle 2 of November, February, May and August.  Dividends are declared  for shareholders of record of one month and paid in the next month.
For example, the dividend declared on January 26, 2015 for shareholders of record was paid to shareholders on February 24, 2015.
Misson Statement or closes thing I can find.
We give our people the tools and support to grow and enrich their careers.
Our first priority is doing our jobs as bankers well, and serving our clients with integrity, every day. 
At RBC, we also take our responsibilities in the community, marketplace, workplace and to the planet seriously.
We are committed to delivering excellent long-term returns to our shareholders.
How they make their money
Royal Bank of Canada is one of the largest Canadian banks. It provides diversified financial services, personal and commercial banking, wealth management services, 
insurance, corporate and investment banking, and transaction processing services worldwide.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
Date Jan 13 2013 Jan 04 2014 Jan 10 2015 Jan 3 2016 Jan 7 2017 Jan 3 2018
McKay, David Ian 0.020 0.001% 0.025 0.002% 0.010 0.001% 0.030 0.002%
CEO - Shares - Amount $1.478 $2.103 $1.033 $3.087
Options - percentage 0.775 0.054% 0.979 0.066% 1.197 0.082% 1.213 0.084%
Options - amount $57.980 $82.065 $120.787 $124.517
Bolger, Rod 0.003 0.000%
CFO - Shares - Amount $0.308
Options - percentage 0.150 0.010%
Options - amount $15.368
Fukakusa, Janice Rose 0.013 0.00% 0.015 0.001% 0.017 0.001% 0.019 0.001% 0.043 0.003% ceased insider Jan 2017
CFO - Shares - Amount $0.905 $1.203 $1.286 $1.603 $4.287
Options - percentage 0.788 0.05% 0.777 0.054% 0.829 0.057% 0.802 0.054% 0.580 0.040%
Options - amount $55.180 $62.156 $61.948 $67.170 $58.523
Dobbins, Michael 0.003 0.000% 0.003 0.000%
Officer - Shares - Amount $0.341 $0.355
Options - percentage 0.098 0.007% 0.105 0.007%
Options - amount $9.876 $10.750
Guzman, Douglas Antony 0.000 0.000% 0.003 0.000% 0.004 0.000% yes 0
Officer - Shares - Amount $0.000 $0.342 $0.384
Options - percentage 0.000 0.000% 0.232 0.016% 0.271 0.019% yes 0
Options - amount $0.000 $23.415 $27.851
Anderson, Robert James 0.005 0.00% 0.006 0.000% 0.006 0.000% 0.006 0.000% 0.006 0.000% ceased insider Jan 2017
Officer - Shares - Amount $0.338 $0.472 $0.422 $0.504 $0.646
Options - percentage 0.223 0.02% 0.221 0.015% 0.212 0.015% 0.210 0.014% 0.209 0.014%
Options - amount $15.611 $17.650 $15.878 $17.586 $21.089
Chisholm, Andrew A. 0.000 0.000%
Director - Shares - Amount $0.045
Options - percentage 0.000 0.000%
Options - amount $0.000
Beattie, William Geoffrey 0.016 0.00% 0.016 0.001% 0.017 0.001% 0.018 0.001% 0.118 0.008% Ceased insider Apr 2017
Director - Shares - Amount $1.153 $1.317 $1.280 $1.480 $11.926
Options - percentage 0.054 0.00% 0.054 0.004% 0.060 0.004% 0.065 0.004% 0.071 0.005%
Options - amount $3.793 $4.334 $4.460 $5.461 $7.194
Taylor, Kathleen 0.032 0.002% 0.032 0.002% 0.032 0.002% 0.013 0.001% 0.013 0.001%
Chairman - Shares - Amt $2.532 $2.366 $2.651 $1.275 $1.297
Options - percentage 0.056 0.004% 0.056 0.004% 0.059 0.004% 0.063 0.004% 0.068 0.005%
Options - amount $4.463 $4.171 $4.974 $6.387 $6.955
Increase in O/S Shares 3.175 0.22% 2.528 0.18% 2.723 0.19% 1.190 0.08% 4.981 0.34% 3.477 0.239%
due to SO 2013 - YE $222.314 $177.011 $217.867 $88.976 $417.408 $350.725
Book Value $126.000 $121.000 $150.000 $62.000 $307.000 $227.000
Insider Buying -$0.019 -$0.528 -$6.953 -$0.147
Insider Selling $2.582 $35.135 $36.024 $15.689
Net Insider Selling $2.563 $34.607 $29.071 $15.542
% of Market Cap 0.002% 0.03% 0.02% 0.01%
Directors 18 16 17 15 13
Women 5 28% 4 25% 5 29% 5 33% 5 38%
Minorities 0 0% 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 327 44.57% 358 45.54% 399 43.93% 569 50.95% 438 43.25% 482 40.79%
Total Shares Held 644.253 44.71% 656.327 45.51% 633.566 43.88% 735.350 49.544% 687.124 47.305% 592.677 40.803%
Increase/Decrease 13.926 2.21% 14.150 2.20% -18.728 -2.87% 26.797 3.78% 14.104 2.10% 0.105 0.02%
Starting No. of Shares 630.327 NASDAQ 642.177 NASDAQ 652.294 NASDAQ 708.553 NASDAQ 673.020 NASDAQ 592.572 NASDAQ
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