Preferred stock is a special equity security that has properties of both equity and debt. Royal Bank of Canada's preferred stock for the quarter that ended in Apr. 2026 was C$11,154 Mil.
The market value of preferred stock needs to be added to the market value of common stocks in the calculation of Enterprise Value. Royal Bank of Canada's Enterprise Value for the quarter that ended in Apr. 2026 was C$554,841 Mil.
In the calculation of book value, the par value of preferred stocks needs to subtracted from total equity. Royal Bank of Canada's Book Value per Share for the quarter that ended in Apr. 2026 was C$93.27.
Royal Bank of Canada (TSX:RY) Preferred Stock Explanation
When a company needs capital but does not wish to issue debt, they may sell preferred stocks to investors.
For instance, during the financial crisis of 2008, Goldman Sachs (GS) issued a combination of preferred stock and common stock options for $5 billion of capital to Warren Buffetts Berkshire Hathaway (BRK.A)(BRK.B). In this deal, Berkshire Hathaway paid $5 billion for 10% cumulative perpetual preferred stock and warrants to buy 43.5 million shares of Goldman Sachs at $115 a share. Goldman Sachs bought back the preferred in 2010. Guess how much money Warren Buffett made in this deal in two years? Read How Much Did Warren Buffetts Berkshire Hathaway (BRK.B) Make on Its Goldman Sachs (GS) Preferred Stock?
1. The market value of Preferred Stocks needs to be added to the market value of common stocks in the calculation of enterprise value.
Royal Bank of Canada's Enterprise Value for the quarter that ended in Apr. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Royal Bank of Canada Preferred Stock Related Terms
Royal Bank of Canada Preferred Stock Historical Data
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The historical data trend for Royal Bank of Canada's Preferred Stock can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Preferred Stock is a special equity security that has properties of both equity and debt. It is generally considered a hybrid instrument. Preferred stock is senior to common stock, but is subordinate to bonds in terms of claim or rights to their share of the assets of the company.
Preferred stock has priority over common stock in the payment of dividends and any payments received when a company liquidates.
Preferred stock comes in many forms. It can be:
Convertible or Non-Convertible
Cumulative or Non-Cumulative
Voting or Non-Voting
Callable or Non-Callable
Maturity Date or No Maturity Date
A preferred stock without a maturity date is called a perpetual preferred stock. These are relatively rare. A good example of perpetual preferred stock is the many series of Public Storage (PSA) preferred shares that trade on the New York Stock Exchange.
Before investing in preferred stock, it is important to know which of the above groups the stock belongs to. Is it convertible or non-convertible? Are dividends cumulative or non-cumulative?
It is also critical that an investor knows what bonds the company has in front of the preferred stock. Bondholders get paid first. So the decision to buy a preferred stock can be similar to the decision to buy a bond. But, remember, the preferred stock of a company with bonds is junior to those bonds.
Unless a preferred stock is convertible, the upside in a preferred stock investment is more limited than in a common stock investment. If a company doubles its earnings, it is usually under no more obligation to double the dividends paid to preferred shareholders than it is to double the interest paid to its bankers and bondholders.So preferred stock is very different from common stock.
Royal Bank of Canada (TSX:RY) has a Preferred Stock of C$11,154 Mil as of Apr. 2026. Preferred Stock represents the par value of a company's preferred shares. View historical data on Royal Bank of Canada and its competitors.
Is Royal Bank of Canada's Preferred Stock too high?
Royal Bank of Canada's current Preferred Stock is C$11,154 Mil. Overall, Royal Bank of Canada has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Royal Bank of Canada's Preferred Stock compare to JPM and BAC?
Royal Bank of Canada's Preferred Stock of C$11,154 Mil can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Preferred Stock for a Banks company?
A good Preferred Stock depends on the Banks industry context. However, Preferred Stock should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Preferred Stock mean?
A high Preferred Stock can signal that a stock is expensive relative to its fundamentals. Preferred Stock represents the par value of a company's preferred shares. View historical data on Royal Bank of Canada and its competitors. Royal Bank of Canada's current Preferred Stock is C$11,154 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Royal Bank of Canada stock overvalued right now?
Based on GuruFocus' analysis, Royal Bank of Canada (TSX:RY) is currently considered Significantly Overvalued. The stock's GF Value™ is C$205.18, compared to a current price of C$291.62 — trading 42.1% above its estimated fair value. The current Preferred Stock is C$11,154 Mil. Royal Bank of Canada's overall GF Score™ is 77/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Preferred Stock calculated?
Preferred Stock is calculated from a company's financial statements. For Royal Bank of Canada (TSX:RY), the current Preferred Stock is C$11,154 Mil as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Royal Bank of Canada (TSX:RY) Overvalued in 2026?
Based on GuruFocus' analysis, Royal Bank of Canada stock appears to be overvalued.
The current stock price of C$291.62 is trading 42.1% above its estimated GF Value™ of C$205.18.
GuruFocus considers Royal Bank of Canada to be Significantly Overvalued.
Key valuation signals for TSX:RY:
Preferred Stock: C$11,154 Mil
GF Value™: C$205.18 vs. price of C$291.62 (42.1% above fair value)
No single metric tells the full story. See the TSX:RY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Royal Bank of Canada is one of the two largest banks in Canada, with around CAD 2.4 trillion in assets at the end of April 2026. It is a diversified financial services company, offering personal and commercial banking, wealth management, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada and has dominant market shares. RBC also has wealth and capital market businesses in the US, UK, and other countries. RBC is a top 15 investment bank globally.
77GF Score
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Preferred Stock is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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