Royal Caribbean Group
RCL NYSE· Hotels, Resorts & Cruise Lines
Last close · Oct 26, 2026
$280.60
KIRA · Stoqly’s AI analyst, in plain words
- Royal Caribbean Group had $17.9B of revenue in fiscal 2025, up 8.8% on the year before. Over five years, revenue changed +52.0% a year on average.
- Its operating margin was 27.4%, up 2.5 pts: of every 100 in sales, about 27 is left after running the business.
- Royal Caribbean Group made $4.3B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 11.4% a year.
- Free cash flow was $1.2B in fiscal 2025, 6.9% of revenue.
- Royal Caribbean Group returned $2.0B to shareholders in fiscal 2025, 160% of free cash flow. The diluted share count fell 1.8%.
- Royal Caribbean Group owes $20.5B more than it holds in cash, about 3.1 years of operating profit.
Market cap
$75.2B
P/E
17.3x
Revenue
$17.9B
Net income
$4.3B
Free cash flow
$1.2B
Operating margin
27.4%
Royal Caribbean Group in 30 seconds · fiscal 2025
Are sales growing?
+8.8%
Yes. Sales grew 8.8% last year.
Does it make a profit?
23.8%
Yes. It keeps 23.8% of every sale as profit.
Does profit turn into cash?
6.9%
Partly. 6.9% of sales ends up as free cash.
Is debt under control?
3.1x
Heavy. Repaying its debt would take 3.1 years of operating profit.
How healthy are the accounts?
9 / 9
Solid. It passes 9 of 9 health tests.
How is the share priced?
17.3x
One share costs 17.3 times its yearly profit per share. Typical for its sector: 17.9x.
What Royal Caribbean Group does
Royal Caribbean Group sells cruise vacations. It owns three global brands: Royal Caribbean, Celebrity Cruises and Silversea. Royal Caribbean aims at families and couples with casual ships. Celebrity Cruises sells a more upscale experience. Silversea runs smaller, luxury and expedition ships to remote places such as Antarctica. Ships call on more than 1,000 destinations on all seven continents, and the company also owns private land-based destinations for its guests. The company earns its money from cruise vacations and runs its three global brands as a single business. It also owns half of TUI Cruises, a joint venture with a German tourism company that sells cruises to German guests under the TUI Cruises and Hapag-Lloyd Cruises names. Together the brands run 69 ships. The company says its main cruise competitors are Carnival, Disney Cruise Line, MSC Cruises, Norwegian Cruise Line Holdings, Viking and Virgin Voyages.
Biggest risks, in its own words
- Cruise demand and guest spending falling when the economy or travel conditions weaken.
- Incidents on ships or at its destinations, and bad publicity, hurting its reputation and bookings.
- Delays at shipyards, which build and repair its ships, affecting new ships and upgrades.
- More cruise ships worldwide, or competition from other vacations, pushing down its prices and sales.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 11, 2026
- Legal name
- ROYAL CARIBBEAN CRUISES LTD
- CIK
- 0000884887
Royal Caribbean Group · RCL
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.5B | $8.8B | $13.9B | $16.5B | $17.9B |
| Revenue growth | −30.6% | 477.0% | 57.2% | 18.6% | 8.8% |
| Gross margin | −78.8% | 25.2% | 44.1% | 47.5% | 49.4% |
| Operating margin | −252.6% | −8.7% | 20.7% | 24.9% | 27.4% |
| Net income | −$5.3B | −$2.2B | $1.7B | $2.9B | $4.3B |
| Net margin | −343.3% | −24.4% | 12.2% | 17.5% | 23.8% |
| Diluted EPS | −$20.89 | −$8.45 | $6.31 | $10.94 | $15.61 |
| Cash | |||||
| Cash from operations | −$1.9B | $481M | $4.5B | $5.3B | $6.5B |
| Capital expenditure | $2.2B | $2.7B | $3.9B | $3.3B | $5.2B |
| Free cash flow | −$4.1B | −$2.2B | $580M | $2.0B | $1.2B |
| FCF margin | −268.2% | −25.2% | 4.2% | 12.1% | 6.9% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $107M | $824M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $1.2B |
| Share count change | 17.6% | 1.2% | 11.0% | −1.4% | −1.8% |
| Debt and strength | |||||
| Cash and short-term investments | $2.7B | $1.9B | $497M | $388M | $825M |
| Debt incl. finance leases | $21.1B | $23.4B | $21.5B | $20.1B | $21.3B |
| Shareholders' equity | $5.1B | $2.9B | $4.7B | $7.6B | $10.0B |
| Net debt / EBITDA | — | 33.5x | 4.8x | 3.5x | 3.1x |
| Current ratio | 0.5x | 0.4x | 0.2x | 0.2x | 0.2x |
| Interest coverage | −3.0x | −0.6x | 2.1x | 2.6x | 5.0x |
| Returns and quality | |||||
| Return on capital | −12.8% | −2.5% | 11.4% | 15.2% | 16.6% |
| Return on equity | −76.0% | −54.2% | 44.7% | 46.8% | 48.5% |
| Piotroski F-score | 2 | 5 | 7 | 8 | 9 |
| Altman Z'' | −1.3 | −1.3 | −0.7 | −0.2 | 0.1 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$631M
7 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Royal Caribbean Group · RCL
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Royal Caribbean Group RCL | $75.2B | 8.8% | 27.4% | 6.9% | 16.6% | 17.3x | 9 |
| Expedia Group EXPE | $34.8B | 7.6% | 12.7% | 21.1% | 40.5% | 17.7x | 8 |
| Marriott International MAR | $104.4B | 4.3% | 15.8% | 10.0% | 27.4% | 40.8x | 7 |
| Airbnb ABNB | $102.1B | 10.3% | 20.8% | — | — | 38.9x | 6 |
| Carnival CCL | $36.7B | 6.4% | 16.8% | 9.8% | 12.1% | 11.7x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $280.60 a share, the company is worth $75.2B: 17.3 times its earnings of the last four quarters.
Royal Caribbean Group grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 1 of 4.
Source: SEC EDGAR XBRL filings (CIK 0000884887). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.