Royal Bank Of Canada (RY) Tax Rate (2009 - 2026)
Royal Bank Of Canada (RY) posted quarterly Tax Rate of 21.9% for Q1 2026, up 166.0% year-over-year from 8.23% in Q1 2025, and up 7.26% quarter-over-quarter from 20.42% in Q4 2025.
Royal Bank Of Canada (RY) Tax Rate (2009 - 2026) Analysis & Trends
Royal Bank Of Canada's Tax Rate history runs 18 years deep, the most recent figure standing at 21.9% for Q1 2026.
- In Q1 2026, Tax Rate rose 166.0% year-over-year to 21.9%; the TTM figure through Jan 2026 stood at 21.04% (up 211.0% YoY), while the FY2025 annual figure was 20.59%, up 236.0% from the prior year.
- Tax Rate for Q1 2026 stood at 21.9%, up from 20.42% in the prior quarter.
- The five-year high for Tax Rate was 40.16% in Q1 2023, with the low at 0.84% in Q4 2023.
- The 5-year median for Tax Rate is 20.14% (2022), against an average of 19.72%.
- Peak annual rise in Tax Rate reached 1989 bps in 2024, while the deepest fall reached 2255 bps in 2024.
- Royal Bank Of Canada's Tax Rate stood at 20.14% in 2022, then plunged by 104 bps to 0.84% in 2023, then jumped by 2354 bps to 19.04% in 2024, then increased by 7 bps to 20.42% in 2025, then increased by 7 bps to 21.9% in 2026.
- Business Quant data shows RY's Tax Rate at 21.9% in Q1 2026, 20.42% in Q4 2025, and 21.22% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank Of America | 442.66 Bn | -145.83 Bn | 30.39 Bn | 21.54% |
| 2 | Hsbc Holdings | 350.79 Bn | 350.79 Bn | - | 60.94% |
| 3 | Royal Bank Of Canada | 287.27 Bn | 88.34 Bn | - | 21.90% |
| 4 | Wells Fargo & Company | 254.74 Bn | 50.77 Bn | - | 17.42% |
| 5 | Mitsubishi Ufj Financial | 246.23 Bn | -147.39 Bn | 10.89 Bn | 24.29% |
| 6 | Citigroup | 221.13 Bn | -2,081.18 Bn | 24.75 Bn | 24.97% |
| 7 | Banco Santander | 209.76 Bn | 30.11 Bn | - | - |
| 8 | Toronto Dominion Bank | 194.25 Bn | 19.76 Bn | - | -7.60% |
| 9 | UBS Group AG | 167.62 Bn | -48.10 Bn | - | - |
| 10 | Bank of New York Mellon | 108.21 Bn | 46.98 Bn | - | 20.95% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jan 31, 2026 | 21.90% |
| Jan 31, 2026 | 21.90% |
| Jan 31, 2026 | 21.90% |
| Oct 31, 2025 | 20.42% |
| Oct 31, 2025 | 20.42% |
| Oct 31, 2025 | 20.42% |
| Jul 31, 2025 | 21.22% |
| Jul 31, 2025 | 21.22% |
| Jul 31, 2025 | 21.22% |
| Apr 30, 2025 | 20.44% |
| Apr 30, 2025 | 20.44% |
| Apr 30, 2025 | 20.44% |
| Jan 31, 2025 | 20.24% |
| Jan 31, 2025 | 20.24% |
| Jan 31, 2025 | 20.24% |
| Oct 31, 2024 | 19.04% |
| Oct 31, 2024 | 19.04% |
| Oct 31, 2024 | 19.04% |
| Jul 31, 2024 | 16.51% |
| Jul 31, 2024 | 16.51% |