RY FY 2023 Earnings Report — Royal Bank of Canada Revenue & Financial Results | Market Cap Arena

Royal Bank of CanadaRY

FY 2023 Earnings

Reported November 30, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$82.9B	—	$48.8B	—	69.8%
Op. Income	$13.3B	—	$14.7B	—	-9.6%
Gross Margin	43.3%	—	72.3%	—	-29.0pp
Net Margin	12.9%	—	23.6%	—	-10.8pp
EPS (Diluted)	$7.54	—	$8.08	—	-6.7%
Free Cash Flow	$17.1B	—	$14.2B	—	20.1%

Revenue Flow

Item	Amount
REVENUE	$82.9B
Cost of Revenue	$47.0B
GROSS PROFIT	$35.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13.8B
SG&A Expenses	$13.8B
Other Expenses	$8.8B
Operating Expenses	$22.6B
Cost & Expenses	$69.6B
OPERATING INCOME	$13.3B
Interest Income	$63.6B
Interest Expense	$45.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$13.3B
Income Tax Expense	$2.6B
Net Income from Continuing Ops	$10.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10.5B
D&A	$2.1B
EBIT	$13.3B
EBITDA	$15.4B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$82.9B
Cost of Revenue	$47.0B
GROSS PROFIT	$35.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13.8B
SG&A Expenses	$13.8B
Other Expenses	$8.8B
Operating Expenses	$22.6B
Cost & Expenses	$69.6B
OPERATING INCOME	$13.3B
Interest Income	$63.6B
Interest Expense	$45.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$13.3B
Income Tax Expense	$2.6B
Net Income from Continuing Ops	$10.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10.5B
D&A	$2.1B
EBIT	$13.3B
EBITDA	$15.4B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$10.7B
Depreciation & Amortization	$2.1B
Stock-Based Compensation	$0
Deferred Income Tax	-$744M
Other Non-Cash Items	$1.8B
Change in Working Capital	$5.3B
OPERATING CASH FLOW	$19.1B
Capital Expenditure	-$2.0B
Acquisitions (Net)	$1.3B
Purchases of Investments	-$148.0B
Sales/Maturities of Investments	$114.3B
Other Investing Activities	$13.7B
NET CASH FROM INVESTING	-$20.7B
Net Debt Issuance	-$3.2B
Common Stock Repurchased	-$3.0B
Common Dividends Paid	-$4.1B
Other Financing Activities	-$15M
NET CASH FROM FINANCING	-$7.2B
FREE CASH FLOW	$17.1B
Net Change in Cash	-$7.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$97.2B
Short-Term Investments	$57.7B
Net Receivables	$21.8B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$176.7B
PP&E (Net)	$4.9B
Goodwill	$9.2B
Intangible Assets	$4.3B
Long-Term Investments	$877.3B
Tax Assets	$2.3B
Other Non-Current Assets	$395.2B
TOTAL NON-CURRENT ASSETS	$1.3T
TOTAL ASSETS	$1.5T
Account Payables	$15.0B
Short-Term Debt	$331.0B
Deferred Revenue	$0
Other Current Liabilities	$618.7B
TOTAL CURRENT LIABILITIES	$971.8B
Long-Term Debt	$231.6B
Deferred Revenue NC	$2.8B
Deferred Tax Liabilities	$311M
Other Non-Current Liabilities	$172.6B
TOTAL NON-CURRENT LIABILITIES	$410.3B
TOTAL LIABILITIES	$1.4T
Common Stock	$14.2B
Additional Paid-In Capital	$0
Retained Earnings	$59.7B
Treasury Stock	-$175M
Accum. Other Comp. Income	$0
Other Equity	$5.0B
TOTAL STOCKHOLDERS' EQUITY	$84.1B
Minority Interest	$72M
TOTAL EQUITY	$84.1B
TOTAL LIABILITIES & EQUITY	$1.5T
Total Debt	$566.1B
Net Debt	$468.8B