RY
Royal Bank of Canada
NYSE: RY · FINANCIAL SERVICES · BANKS - DIVERSIFIED
$180.85
-0.48% today
Updated 2026-06-05
Market cap
$277.29B
P/E ratio
18.11
P/S ratio
4.22x
EPS (TTM)
$11.02
Dividend yield
3.19%
52W range
$122 – $202
Volume
1.5M
Royal Bank of Canada (RY) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed RY price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$180.85
Today
Analyst consensus
$238.96
+32.13% · 12M
2030 Base
$310.83
+71.87% future
NPV today
$202.85
@ 10% WACC
17 analysts:
10 Buy4 Hold1 Sell
Management guidance
RBC management has not provided explicit multi-year revenue targets through 2030. Latest earnings (Q1 FY2026, Feb 2026) emphasized record earnings driven by personal banking and wealth management, with strategic focus on AI integration and diversified business lines. No specific revenue guidance for 2026-2030 period disclosed in available materials.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
RY · Royal Bank of Canada · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$150.33
NPV today: $98.11
Base case (2030)
$310.83
NPV today: $202.85
Bull case (2030)
$471.33
NPV today: $307.59
WallStSmart.com
RY financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $137.4B | $78.5B | $87.2B | $96.8B | $105.6B | $113.5B |
| Revenue growth | 2.1% | 26.2% | 11.1% | 11.1% | 9.1% | 7.5% |
| Net margin | — | 31.1% | 30.9% | 30.6% | 30.4% | 30.2% |
| EPS | $14.34 | $17.50 | $19.20 | $21.10 | $22.80 | $24.20 |
| Diluted shares | — | 1396M | 1402M | 1406M | 1410M | 1414M |
| Net debt | — | $-16.15B | $-34.10B | $-54.02B | $-75.75B | $-99.11B |
| P/S multiple | — | 3.0x | 3.0x | 3.0x | 3.0x | 3.0x |
| Implied price (base) | — | $180.26 | $210.96 | $244.99 | $278.39 | $310.83 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $113.5B | $113.5B | $113.5B |
| P/S multiple | 1.0x | 3.0x | 5.0x |
| Diluted shares | 1414M | 1414M | 1414M |
| Net debt | $-99.11B | $-99.11B | $-99.11B |
| Implied P/E † | 6x | 13x | 20x |
| 2030 Price | $150.33 | $310.83 | $471.33 |
| NPV @ 10% | $98.11 | $202.85 | $307.59 |
† Implied P/E: Multiples remain elevated across all three scenarios because RY is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $310.83 base case
RY catalysts and risks
Growth catalysts
+ Wealth management growth acceleration in North America, particularly US market expansion
+ Capital markets revenue uplift from increased deal activity and improved market volatility
+ AI-driven operational efficiency gains and new fintech revenue streams
+ Dividend growth and shareholder returns (current 2.47% yield)
+ Cross-border M&A activity and expansion in US financial services market
Key risks
- Canadian economic slowdown and residential mortgage credit losses increasing
- US interest rate volatility impacting capital markets and wealth management AUM
- Regulatory pressures on banking capital ratios and dividend payout constraints
- Competition from fintech and US megabanks (JPM, BAC, WFC) in wealth management
- CAD/USD currency headwinds affecting reported USD revenues
Methodology · Royal Bank of Canada 2030 stock forecast model
Royal Bank of Canada 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (2% cumulative for RY by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-99.11B by 2030) |
| 3. Time value | NPV calculated using 10% WACC (CAPM: beta 0.937) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 3.0x / bull 5.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
RY price target FAQ
What is the RY price target for 2030?
WallStSmart's Royal Bank of Canada 2030 base case is $310.83 per share, with a bull case of $471.33 and bear case of $150.33. The NPV of the base case discounted to today at 10% WACC is $202.85.
How is the Royal Bank of Canada 2030 stock forecast calculated?
The RY 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the RY price target account for dilution?
Royal Bank of Canada is projected to grow diluted share count from 1390M to 1414M by 2030 (a 2% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 2%.
What is the analyst consensus on RY stock?
17 analysts cover RY with an average 12-month price target of $238.96. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.