Royal Bank of Canada (TSX:RY) Scaled Net Operating Assets: 0.15 (As of Apr. 2026)


TSX:RY Royal Bank of Canada TSX:RY
77 GF Score
Price C$288.01
GF Value C$204.65
Valuation Significantly Overvalued
! 8 Warning Signs
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What is Royal Bank of Canada Scaled Net Operating Assets?

Royal Bank of Canada TSX:RY -0.38% 77 Scaled Net Operating Assets is 0.15 as of Apr. 2026. GuruFocus rates TSX:RY with a GF Score™ of 77/100 and a GF Value™ of C$204.65 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Royal Bank of Canada's operating assets for the quarter that ended in Apr. 2026 was C$2,026,660 Mil. Royal Bank of Canada's operating liabilities for the quarter that ended in Apr. 2026 was C$1,681,636 Mil. Royal Bank of Canada's Total Assets for the quarter that ended in Jan. 2026 was C$2,342,393 Mil. Therefore, Royal Bank of Canada's scaled net operating assets (SNOA) for the quarter that ended in Apr. 2026 was 0.15.

TSX:RY
77GF Score
Royal Bank of Canada TSX:RY
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Royal Bank of Canada Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Royal Bank of Canada's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Oct. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Oct. 2025 )
=(Operating Assets (A: Oct. 2025 )-Operating Liabilities (A: Oct. 2025 ))/Total Assets (A: Oct. 2024 )
=(2237618-1640416)/2171582
=0.28

where

Operating Assets(A: Oct. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2325006 - 87388
=2237618

Operating Liabilities(A: Oct. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2185855 - 358395 - 187044
=1640416

Royal Bank of Canada's Scaled Net Operating Assets (SNOA) for the quarter that ended in Apr. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Apr. 2026 )
=(Operating Assets (Q: Apr. 2026 )-Operating Liabilities (Q: Apr. 2026 ))/Total Assets (Q: Jan. 2026 )
=(2026660-1681636)/2342393
=0.15

where

Operating Assets(Q: Apr. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2396080 - 369420
=2026660

Operating Liabilities(Q: Apr. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2255307 - 361797 - 211874
=1681636

* 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.

What does a Scaled Net Operating Assets of 0.15 mean?
Royal Bank of Canada (TSX:RY) has a Scaled Net Operating Assets of 0.15 as of Apr. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Royal Bank of Canada and its competitors.
Is Royal Bank of Canada's Scaled Net Operating Assets too high?
Royal Bank of Canada's current Scaled Net Operating Assets is 0.15. 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 Scaled Net Operating Assets compare to JPM and BAC?
Royal Bank of Canada's Scaled Net Operating Assets of 0.15 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 Scaled Net Operating Assets for a Banks company?
A good Scaled Net Operating Assets depends on the Banks industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Royal Bank of Canada and its competitors. Royal Bank of Canada's current Scaled Net Operating Assets is 0.15. 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$204.65, compared to a current price of C$288.01 — trading 40.7% above its estimated fair value. The current Scaled Net Operating Assets is 0.15. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Royal Bank of Canada (TSX:RY), the current Scaled Net Operating Assets is 0.15 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$288.01 is trading 40.7% above its estimated GF Value™ of C$204.65. GuruFocus considers Royal Bank of Canada to be Significantly Overvalued.

Key valuation signals for TSX:RY:

  • Scaled Net Operating Assets: 0.15
  • GF Value™: C$204.65 vs. price of C$288.01 (40.7% above fair value)
  • GF Score™: 77/100 with 8 warning signs

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 Business Description

Address 1 Place Ville Marie, Corporate Secretary\'s Department, Montreal, QC, CAN, H3B 3A9
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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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$288.01
Price
C$204.65
GF Value