WallStSmart

Bank of N.T. Butterfield & Son Ltd (NTB)vsRoyal Bank of Canada (RY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Royal Bank of Canada generates 10352% more annual revenue ($63.42B vs $606.79M). NTB leads profitability with a 38.2% profit margin vs 33.1%. NTB appears more attractively valued with a PEG of 1.96. NTB earns a higher WallStSmart Score of 77/100 (B+).

NTB

Strong Buy

77

out of 100

Grade: B+

Growth: 6.7Profit: 8.0Value: 10.0Quality: 5.0

RY

Strong Buy

68

out of 100

Grade: B-

Growth: 7.3Profit: 8.0Value: 10.0Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NTBUndervalued (+77.8%)

Margin of Safety

+77.8%

Fair Value

$240.24

Current Price

$51.84

$188.40 discount

UndervaluedFair: $240.24Overvalued
RYUndervalued (+44.3%)

Margin of Safety

+44.3%

Fair Value

$306.13

Current Price

$162.50

$143.63 discount

UndervaluedFair: $306.13Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NTB6 strengths · Avg: 9.2/10
P/E RatioValuation
9.5x10/10

Attractively priced relative to earnings

Profit MarginProfitability
38.2%10/10

Keeps 38 of every $100 in revenue as profit

Operating MarginProfitability
32.3%10/10

Strong operational efficiency at 32.3%

Return on EquityProfitability
21.4%9/10

Every $100 of equity generates 21 in profit

Price/BookValuation
1.8x8/10

Reasonable price relative to book value

EPS GrowthGrowth
23.2%8/10

Earnings expanding 23.2% YoY

RY6 strengths · Avg: 9.3/10
Market CapQuality
$225.89B10/10

Mega-cap, among the largest globally

Profit MarginProfitability
33.1%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
46.2%10/10

Strong operational efficiency at 46.2%

Free Cash FlowQuality
$37.30B10/10

Generating 37.3B in free cash flow

P/E RatioValuation
15.3x8/10

Attractively priced relative to earnings

Price/BookValuation
2.4x8/10

Reasonable price relative to book value

Areas to Watch

NTB1 concerns · Avg: 4.0/10
PEG RatioValuation
1.964/10

Expensive relative to growth rate

RY1 concerns · Avg: 4.0/10
PEG RatioValuation
2.414/10

Expensive relative to growth rate

Comparative Analysis Report

WallStSmart Research

Bull Case : NTB

The strongest argument for NTB centers on P/E Ratio, Profit Margin, Operating Margin. Profitability is solid with margins at 38.2% and operating margin at 32.3%.

Bull Case : RY

The strongest argument for RY centers on Market Cap, Profit Margin, Operating Margin. Profitability is solid with margins at 33.1% and operating margin at 46.2%.

Bear Case : NTB

The primary concerns for NTB are PEG Ratio.

Bear Case : RY

The primary concerns for RY are PEG Ratio.

Key Dynamics to Monitor

RY carries more volatility with a beta of 0.94 — expect wider price swings.

RY is growing revenue faster at 7.5% — sustainability is the question.

RY generates stronger free cash flow (37.3B), providing more financial flexibility.

Monitor BANKS - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.

Bottom Line

NTB scores higher overall (77/100 vs 68/100), backed by strong 38.2% margins. RY offers better value entry with a 44.3% margin of safety. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Bank of N.T. Butterfield & Son Ltd

FINANCIAL SERVICES · BANKS - DIVERSIFIED · USA

The Bank of NT Butterfield & Son Limited offers a variety of community, commercial and private banking services to individuals and small and medium-sized businesses. The company is headquartered in Hamilton, Bermuda.

Royal Bank of Canada

FINANCIAL SERVICES · BANKS - DIVERSIFIED · USA

Royal Bank of Canada is a globally diversified financial services company. The company is headquartered in Toronto, Canada.

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