RCL

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Royal Caribbean Cruises Ltd.

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Key Metrics

Previous Close: $300.56
52-Week Range: $232.10 – $366.50
Market Cap: $76.92B
P/E (TTM): 18.56
EPS (TTM): 15.50
Dividend Yield: 1.66%

Advanced Metrics

Price/Book: 7.51
PEG Ratio: 1.41
Return on Equity: 44.67%
Return on Assets: 7.68%
Gross Margin: 50.28%
Operating Margin: 27.07%
Profit Margin: 23.54%
Current Ratio: 0.21
Debt/Equity: 2.25
Total Debt: $23.52B
Free Cash Flow: $-1.52B
Revenue Growth: 6.50%
Earnings Growth: -4.60%
Enterprise Value: $103.25B

RCL Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$8.84B	$13.90B	$16.48B	$17.93B
Cost of Revenue	$6.62B	$7.78B	$8.65B	$9.08B
Gross Profit	$2.22B	$6.13B	$7.83B	$8.85B
Selling, General & Admin	$1.58B	$1.79B	$2.13B	$2.22B
Operating Expenses	$2.99B	$3.25B	$3.73B	$3.94B
Operating Income	-$766.00M	$2.88B	$4.11B	$4.91B
EBITDA	$615.00M	$4.57B	$6.13B	$7.08B
Pretax Income	-$2.16B	$1.71B	$2.94B	$4.37B
Income Tax	—	$6.00M	$46.00M	$82.00M
Net Income	-$2.16B	$1.70B	$2.88B	$4.27B
Diluted EPS	-8.45	6.31	11.00	15.61
Diluted Shares	255.01M	283.00M	279.00M	274.00M

RCL Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.94B	$497.00M	$388.00M	$825.00M
Receivables	$531.00M	$405.00M	$371.00M	$317.00M
Inventory	$224.00M	$248.00M	$265.00M	$264.00M
Current Assets	$3.21B	$1.79B	$1.71B	$2.21B
Total Assets	$33.78B	$35.13B	$37.07B	$41.62B
Current Liabilities	$8.57B	$9.40B	$9.82B	$12.05B
Long-Term Debt	$21.30B	$19.73B	$18.47B	$18.16B
Total Debt	$23.99B	$22.13B	$20.82B	$22.04B
Total Liabilities	$30.91B	$30.23B	$29.34B	$31.37B
Retained Earnings	-$1.71B	-$10.00M	$2.61B	$5.92B
Shareholders' Equity	$2.87B	$4.72B	$7.56B	$10.04B
Working Capital	-$5.37B	-$7.61B	-$8.11B	-$9.84B
Net Debt	$21.46B	$20.95B	$19.69B	$20.52B

RCL Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$481.00M	$4.48B	$5.26B	$6.46B
Capital Expenditure	-$2.71B	-$3.90B	-$3.27B	-$5.23B
Free Cash Flow	-$2.23B	$580.00M	$2.00B	$1.24B
Depreciation & Amortisation	$1.41B	$1.46B	$1.60B	$1.72B
Stock-Based Compensation	$36.00M	$126.00M	$267.00M	$175.00M
Investing Cash Flow	-$2.99B	-$3.92B	-$3.45B	-$5.01B
Financing Cash Flow	$1.74B	-$1.99B	-$1.92B	-$1.02B
Dividends Paid	$0.00	$0.00	-$107.00M	-$824.00M
Share Repurchases	—	$0.00	$0.00	-$1.16B
Net Change in Cash	-$765.00M	-$1.44B	-$103.00M	$435.00M

RCL Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$4.54B	$5.14B	$4.26B	$4.45B	$4.83B
Cost of Revenue	$2.28B	$2.48B	$2.24B	$2.25B	$2.55B
Gross Profit	$2.25B	$2.66B	$2.02B	$2.21B	$2.29B
Selling, General & Admin	$508.00M	$522.00M	$630.00M	$582.00M	$513.00M
Operating Expenses	$925.00M	$957.00M	$1.08B	$1.04B	$977.00M
Operating Income	$1.33B	$1.70B	$934.00M	$1.16B	$1.31B
EBITDA	$1.88B	$2.26B	$1.57B	$1.72B	$1.85B
Pretax Income	$1.23B	$1.58B	$846.00M	$976.00M	$1.15B
Income Tax	$17.00M	—	—	$26.00M	$14.00M
Net Income	$1.21B	$1.57B	$754.00M	$941.00M	$1.13B
Diluted EPS	4.41	5.74	2.76	3.48	4.20
Diluted Shares	275.00M	274.00M	273.00M	271.00M	268.00M

RCL Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$735.00M	$432.00M	$825.00M	$512.00M	$875.00M
Receivables	$431.00M	$356.00M	$317.00M	$479.00M	$441.00M
Inventory	$247.00M	$269.00M	$264.00M	$271.00M	$267.00M
Current Assets	$2.45B	$1.89B	$2.21B	$2.20B	$2.43B
Total Assets	$38.54B	$40.11B	$41.62B	$41.99B	$44.64B
Current Liabilities	$10.57B	$11.47B	$12.05B	$11.06B	$11.65B
Long-Term Debt	$17.61B	$17.20B	$18.16B	$19.67B	$21.26B
Total Debt	$19.74B	$20.98B	$22.04B	$21.79B	$23.52B
Total Liabilities	$29.18B	$29.82B	$31.37B	$31.96B	$34.18B
Retained Earnings	$4.14B	$5.44B	$5.92B	$6.46B	$7.19B
Shareholders' Equity	$9.17B	$10.09B	$10.04B	$9.81B	$10.24B
Working Capital	-$8.12B	-$9.58B	-$9.84B	-$8.86B	-$9.22B
Net Debt	$18.28B	$19.84B	$20.52B	$20.60B	$21.96B

RCL Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$1.75B	$1.47B	$1.62B	$1.83B	$1.86B
Capital Expenditure	-$836.00M	-$2.46B	-$1.51B	-$500.00M	-$2.74B
Free Cash Flow	$910.00M	-$989.00M	$116.00M	$1.33B	-$877.00M
Depreciation & Amortisation	$417.00M	$436.00M	$453.00M	$461.00M	$464.00M
Stock-Based Compensation	$39.00M	$44.00M	$39.00M	$38.00M	$30.00M
Investing Cash Flow	-$706.00M	-$2.39B	-$1.48B	-$529.00M	-$2.67B
Financing Cash Flow	-$696.00M	$615.00M	$254.00M	-$1.62B	$1.18B
Dividends Paid	-$200.00M	-$204.00M	-$272.00M	-$270.00M	-$404.00M
Share Repurchases	$0.00	-$414.00M	-$504.00M	-$836.00M	-$199.00M
Net Change in Cash	$344.00M	-$303.00M	$398.00M	-$312.00M	$363.00M

Market Snapshot

About

Royal Caribbean Cruises Ltd. is one of the world’s largest cruise line operators, offering vacation experiences across nearly 500 destinations on all seven continents. The company operates multiple cruise brands including Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, with a fleet of innovative ships featuring attractions like rock climbing walls, ice skating rinks, and Broadway-style entertainment. Royal Caribbean serves millions of guests annually with cruises ranging from mass-market to ultra-luxury segments.