RCL · Royal Caribbean Cruises Ltd - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.45B | - | $5.14B | $4.54B | $4.00B | - | $4.89B | $4.11B | $3.73B | - |
| Cost of Revenue | $2.25B | - | $2.48B | $2.28B | $2.08B | - | $2.39B | $2.15B | $2.06B | - |
| Gross Profit | $2.21B | - | $2.66B | $2.25B | $1.92B | - | $2.50B | $1.96B | $1.67B | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $582.00M | - | $522.00M | $508.00M | $562.00M | - | $451.00M | $466.00M | $535.00M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $461.00M | - | $435.00M | $417.00M | $412.00M | - | $410.00M | $393.00M | $387.00M | - |
| Operating Income | $1.16B | - | $1.70B | $1.33B | $945.00M | - | $1.63B | $1.10B | $750.00M | - |
| Interest Expense | $278.00M | - | $248.00M | $228.00M | $424.00M | - | $603.00M | $355.00M | $424.00M | - |
| Income Tax | $16.00M | - | - | - | - | - | - | - | - | - |
| Net Income | $941.00M | - | $1.57B | $1.21B | $730.00M | - | $1.11B | $854.00M | $360.00M | - |
| EPS - Basic | $3.49 | - | $5.79 | $4.45 | $2.71 | - | $4.22 | $3.32 | $1.40 | - |
| EPS - Diluted | $3.48 | - | $5.74 | $4.41 | $2.70 | - | $4.21 | $3.11 | $1.35 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $512.00M | $825.00M | $432.00M | $735.00M | $386.00M | $388.00M | $418.00M | $391.00M | $437.00M | $497.00M |
| Accounts Receivable | $479.00M | $317.00M | $356.00M | $431.00M | $427.00M | $371.00M | $441.00M | $412.00M | $455.00M | $405.00M |
| Inventory | $271.00M | $264.00M | $269.00M | $247.00M | $256.00M | $265.00M | $265.00M | $242.00M | $236.00M | $248.00M |
| Accounts Payable | $1.01B | $953.00M | $828.00M | $959.00M | $956.00M | $919.00M | $851.00M | $821.00M | $876.00M | $792.00M |
| Current Assets | $2.20B | $2.21B | $1.89B | $2.45B | $1.83B | $1.71B | $1.83B | $1.89B | $1.87B | $1.79B |
| Total Assets | $41.99B | $41.62B | $40.11B | $38.54B | $37.45B | $37.07B | $37.07B | $36.97B | $35.19B | $35.13B |
| Current Liabilities | $11.06B | $12.05B | $11.47B | $10.57B | $10.30B | $9.82B | $9.63B | $9.89B | $9.90B | $9.40B |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $31.96B | $31.37B | $29.82B | $29.18B | $29.31B | $29.34B | $29.84B | $30.79B | $29.86B | $30.23B |
| Stockholders' Equity | $9.81B | $10.04B | $10.09B | $9.17B | $7.96B | $7.56B | $7.04B | $6.01B | $5.15B | $4.72B |
| Retained Earnings | $6.46B | $5.92B | $5.44B | $4.14B | $3.14B | $2.61B | $2.21B | $1.20B | $350.00M | ($10.00M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.83B | - | - | - | $1.63B | - | - | - | $1.33B | - |
| Investing Cash Flow | ($529.00M) | - | - | - | ($440.00M) | - | - | - | ($296.00M) | - |
| Financing Cash Flow | ($1.62B) | - | - | - | ($1.19B) | - | - | - | ($1.09B) | - |
| CapEx | $500.00M | - | - | - | $428.00M | - | - | - | $242.00M | - |
| Free Cash Flow | $1.33B | - | - | - | $1.20B | - | - | - | $1.09B | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 49.5% | - | 51.8% | 49.7% | 48.0% | - | 51.1% | 47.6% | 44.8% | - |
| Operating margin | 26.1% | - | 33.1% | 29.3% | 23.6% | - | 33.4% | 26.7% | 20.1% | - |
| EBITDA margin | 36.5% | - | 41.6% | 38.5% | 33.9% | - | 41.8% | 36.3% | 30.5% | - |
| Net margin | 21.1% | - | 30.6% | 26.7% | 18.3% | - | 22.7% | 20.8% | 9.7% | - |
| Free cash flow margin | 30.0% | - | - | - | 30.0% | - | - | - | 29.1% | - |
| FCF / Net income | 1.42 | - | - | - | 1.64 | - | - | - | 3.02 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 13.1% | - | 10.2% | 11.2% | 14.1% | - | 9.2% | 11.3% | 14.4% | - |
| Effective tax rate | 1.7% | - | - | - | - | - | - | - | - | - |
| Return on assets | 2.2% | - | 3.9% | 3.1% | 1.9% | - | 3.0% | 2.3% | 1.0% | - |
| Return on equity | 9.6% | - | 15.6% | 13.2% | 9.2% | - | 15.8% | 14.2% | 7.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.20 | 0.18 | 0.16 | 0.23 | 0.18 | 0.17 | 0.19 | 0.19 | 0.19 | 0.19 |
| Quick ratio | 0.17 | 0.16 | 0.14 | 0.21 | 0.15 | 0.15 | 0.16 | 0.17 | 0.16 | 0.16 |
| Cash ratio | 0.05 | 0.07 | 0.04 | 0.07 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 4.2x | - | 6.9x | 5.8x | 2.2x | - | 2.7x | 3.1x | 1.8x | - |
| Equity multiplier | 4.28 | 4.15 | 3.97 | 4.20 | 4.71 | 4.90 | 5.26 | 6.15 | 6.83 | 7.44 |
| Liabilities / Assets | 0.76 | 0.75 | 0.74 | 0.76 | 0.78 | 0.79 | 0.81 | 0.83 | 0.85 | 0.86 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.13 | 0.12 | 0.11 | - | 0.13 | 0.11 | 0.11 | - |
| Inventory turnover | 8.29 | - | 9.22 | 9.24 | 8.12 | - | 9.02 | 8.89 | 8.71 | - |
| Days sales outstanding | 39d | - | 25d | 35d | 39d | - | 33d | 37d | 45d | - |
| Days inventory outstanding | 44d | - | 40d | 39d | 45d | - | 40d | 41d | 42d | - |
| Days payable outstanding | 164d | - | 122d | 153d | 168d | - | 130d | 139d | 156d | - |
| Cash conversion cycle | -81d | - | -57d | -79d | -84d | - | -57d | -62d | -69d | - |
| Valuation | ||||||||||
| P / E | 79.1x | - | 56.4x | 71.0x | 76.1x | - | 42.1x | 51.3x | 103.0x | - |
| P / B | 7.6x | - | 8.8x | 9.4x | 7.1x | - | 6.6x | 7.5x | 7.6x | - |
| P / S | 16.8x | - | 17.3x | 19.0x | 14.2x | - | 9.6x | 10.9x | 10.5x | - |
| EV / EBITDA | 45.6x | - | 41.3x | 48.9x | 41.5x | - | 22.7x | 29.8x | 34.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 11.3% | - | 5.2% | 10.4% | 7.3% | - | 17.4% | 16.7% | 29.2% | - |
| Revenue CAGR (3y) | 15.6% | - | 19.7% | 27.6% | 55.7% | - | 120.3% | 332.2% | 346.0% | - |
| Revenue CAGR (5y) | 154.1% | - | - | 91.6% | 14.5% | - | 8.9% | 7.9% | 8.8% | - |
| Gross profit growth (YoY) | 14.8% | - | 6.6% | 15.2% | 14.8% | - | 23.3% | 24.9% | 53.1% | - |
| Operating income growth (YoY) | 23.0% | - | 4.2% | 20.9% | 26.0% | - | 29.2% | 42.4% | 176.1% | - |
| Net income growth (YoY) | 28.9% | - | 41.8% | 41.7% | 102.8% | - | 10.1% | 86.2% | - | - |
| EPS growth (YoY) | 28.9% | - | 36.3% | 41.8% | 100.0% | - | 15.3% | 82.9% | - | - |
| EPS CAGR (3y) | - | - | 253.4% | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | 0.0% | 6.7% | 2.6% | - |
| FCF growth (YoY) | 11.3% | - | - | - | 10.4% | - | - | - | 2.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | 12.3% | - |
| Book value growth (YoY) | 23.2% | 32.7% | 43.3% | 52.6% | 54.5% | 60.1% | 59.3% | 78.6% | 80.6% | 64.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$31.64B totalPassenger$12.52B · 39.6%
Cruise Itinerary$11.54B · 36.5%
Product And Service Other$5.42B · 17.1%
Port Costs$1.30B · 4.1%
Other Products And Services$864.00M · 2.7%
Peer comparison
Same SIC group: Water Transportation
Comparing ROYAL CARIBBEAN CRUISES LTD against the 5 most active filers in the same SIC group.
Dividends
$5.00/share trailing 12 months · +104.1% YoY
| Ex-date | Per share |
|---|---|
| Jun 3, 2026 | $1.5000 |
| Mar 6, 2026 | $1.5000 |
| Dec 26, 2025 | $1.0000 |
| Sep 25, 2025 | $1.0000 |
| Jun 4, 2025 | $0.7500 |
| Mar 7, 2025 | $0.7500 |
| Dec 27, 2024 | $0.5500 |
| Sep 20, 2024 | $0.4000 |
| Mar 5, 2020 | $0.7800 |
| Dec 19, 2019 | $0.7800 |
| Sep 19, 2019 | $0.7800 |
| Jun 3, 2019 | $0.7000 |
| Mar 6, 2019 | $0.7000 |
| Dec 19, 2018 | $0.7000 |
| Sep 20, 2018 | $0.7000 |
| Jun 1, 2018 | $0.6000 |
| Mar 6, 2018 | $0.6000 |
| Dec 20, 2017 | $0.6000 |
| Sep 21, 2017 | $0.6000 |
| May 31, 2017 | $0.4800 |
| Mar 3, 2017 | $0.4800 |
| Dec 19, 2016 | $0.4800 |
| Sep 27, 2016 | $0.4800 |
| May 26, 2016 | $0.3750 |