Royal Bank Of Canada (RY) Operating Expenses (2009 - 2026)
Royal Bank Of Canada's Operating Expenses came in at $7.02 billion for fiscal Q3 2026 (quarter ended Jul 31, 2026), up 4.5% from $6.72 billion a year earlier and up 2.0% from the prior quarter.
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Analysis
Royal Bank Of Canada (RY) Operating Expenses (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Royal Bank Of Canada reported Operating Expenses of $27.48 billion, up 5.8% year-over-year; for FY2025 (ended Oct 31, 2025), it was $26.14 billion, up 3.8% from FY2024.
- Operating Expenses has increased in each of the last eight fiscal years, with a five-year compound annual growth rate of 7.3% (FY2020 to FY2025).
- Going back by fiscal year, Operating Expenses was $25.17 billion in FY2024 (+10.1%), $22.85 billion in FY2023 (+10.5%), $20.69 billion in FY2022 (+0.3%) and $20.62 billion in FY2021 (+11.9%).
- The fiscal Q3 2026 figure represents the highest quarterly Operating Expenses in data going back to fiscal Q1 2009.
- Year-over-year, Operating Expenses has increased for 16 consecutive quarters, with growth averaging 6.0% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in fiscal Q3 2023 (growth of 17.2%), and the weakest in fiscal Q3 2022 (a decline of 5.0%).
- Business Quant data shows RY's Operating Expenses at $6.88 billion (Q2 2026), $6.82 billion (Q1 2026) and $6.76 billion (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 890.60 Bn | 920.07 Bn | - | 27.32 Bn |
| 2 | Banco Santander Chile | 421.74 Bn | 541.68 Bn | - | -3,218.32 Bn |
| 3 | Bank Of America | 385.85 Bn | -1,990.22 Bn | - | 18.63 Bn |
| 4 | Hsbc Holdings | 345.94 Bn | 345.99 Bn | - | - |
| 5 | Morgan Stanley | 303.15 Bn | -205.95 Bn | - | 13.90 Bn |
| 6 | Royal Bank Of Canada | 279.82 Bn | 130.57 Bn | - | 7.02 Bn |
| 7 | Mitsubishi Ufj Financial | 274.62 Bn | -1,313.87 Bn | 10.89 Bn | 17.50 Bn |
| 8 | Goldman Sachs | 267.07 Bn | -3,290.04 Bn | - | 11.67 Bn |
| 9 | Wells Fargo & Company | 243.79 Bn | 245.93 Bn | - | 13.66 Bn |
| 10 | Banco Santander | 208.29 Bn | 215.91 Bn | - | -7.44 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 7.02 Bn |
| Apr 30, 2026 | 6.88 Bn |
| Jan 31, 2026 | 6.82 Bn |
| Oct 31, 2025 | 6.76 Bn |
| Jul 31, 2025 | 6.72 Bn |
| Apr 30, 2025 | 6.13 Bn |
| Jan 31, 2025 | 6.52 Bn |
| Oct 31, 2024 | 6.60 Bn |
| Jul 31, 2024 | 6.28 Bn |
| Apr 30, 2024 | 6.13 Bn |
| Jan 31, 2024 | 6.16 Bn |
| Oct 31, 2023 | 5.94 Bn |
| Jul 31, 2023 | 5.82 Bn |
| Apr 30, 2023 | 5.47 Bn |
| Jan 31, 2023 | 5.63 Bn |
| Oct 31, 2022 | 5.43 Bn |
| Jul 31, 2022 | 4.97 Bn |
| Apr 30, 2022 | 5.08 Bn |
| Jan 31, 2022 | 5.20 Bn |
| Oct 31, 2021 | 5.24 Bn |
API Access
Royal Bank Of Canada Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=RY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "RY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=RY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();