A Business at a Glance
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We are a vacation industry leader, owning and operating three global cruise vacation brands: Royal Caribbean, Celebrity Cruises and Silversea (collectively, our "Global Brands"). We also own a 50% joint venture interest in TUI Cruises GmbH ("TUIC"), which operates the German brands TUI Cruises and Hapag-Lloyd Cruises (collectively, our "Partner Brands"). We account for our investments in our Partner Brands under the equity method of accounting. Together, our Global Brands and our Partner Brands have a combined fleet of 69 ships in the cruise vacation industry with an aggregate capacity of approximately 179,720 berths as of December 31, 2025. Our ships offer a selection of worldwide itineraries that call on more than 1,000 destinations on all seven continents. We also own a growing portfolio of private land-based destinations, including our Perfect Day and Royal Beach Club collections.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 17.9B | 17.9B | 16.5B | 13.9B | 8.8B | - |
| Net Income | 4.3B | 4.3B | 2.9B | 1.7B | -2.2B | -5.3B |
| EPS | $15.61 | $15.61 | $10.94 | $6.31 | $-8.45 | $-20.89 |
| Free Cash Flow | 1.2B | 1.2B | 2.0B | 580M | -2.2B | -4.1B |
| ROIC | 14.0% | 15.5% | 13.8% | 10.4% | -8.9% | -22.0% |
| Gross Margin | 49.4% | 49.4% | 47.5% | 44.1% | 25.2% | - |
| Debt/Equity | 2.51 | 2.51 | 2.96 | 5.05 | 9.09 | 4.71 |
| Dividends/Share | $3.01 | $3.50 | $0.95 | $0.00 | $0.78 | $0.78 |
| Operating Income | 4.9B | 4.9B | 4.1B | 2.9B | -766M | -3.9B |
| Operating Margin | 27.4% | 27.4% | 24.9% | 20.7% | -8.7% | - |
| ROE | 42.5% | 48.5% | 38.0% | 35.9% | -75.1% | -103.4% |
| Shares Outstanding | 273M | 273M | 263M | 269M | 255M | 252M |
ROYAL CARIBBEAN CRUISES LTD passes 3 of 9 quality checks, indicating weak fundamentals.
ROYAL CARIBBEAN CRUISES LTD trades at 18.1x trailing earnings, compared to its 15-year median P/E of 14.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 61.8x vs a median of 39.4x. The company's 5-year average ROIC is 1.8% with a gross margin of 41.5%. Total shareholder yield (dividends + buybacks) is 2.6%. At current prices, the estimated annualized return to fair value is +24.1%.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a current P/E ratio of 18.1, compared to its historical median P/E of 14.9. The stock is currently considered Fair based on its historical valuation range.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a 5-year average return on invested capital (ROIC) of 1.8%. This is below average and may indicate limited pricing power.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a market capitalization of $77.2B. It is classified as a large-cap stock.
Yes, ROYAL CARIBBEAN CRUISES LTD (RCL) pays a dividend with a trailing twelve-month yield of 1.07%. The company also returns capital through share buybacks, with a buyback yield of 1.50%.
Based on historical P/E analysis, ROYAL CARIBBEAN CRUISES LTD (RCL) appears fair. The current P/E of 18.1 is 21% above its historical median of 14.9. The estimated fair value CAGR (P/E method) is 2.2%.
ROYAL CARIBBEAN CRUISES LTD (RCL) operates in the Water Transportation industry, within the Industrials sector.
ROYAL CARIBBEAN CRUISES LTD (RCL) reported annual revenue of $17.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a net profit margin of 23.8%. This is a strong margin indicating high profitability.
ROYAL CARIBBEAN CRUISES LTD (RCL) generated $1.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a debt-to-equity ratio of 2.51. This indicates higher leverage, which may increase financial risk.
ROYAL CARIBBEAN CRUISES LTD (RCL) reported earnings per share (EPS) of $15.61 in its most recent fiscal year.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a return on equity (ROE) of 48.5%. This indicates the company generates strong returns for shareholders.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a 5-year average gross margin of 41.5%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for ROYAL CARIBBEAN CRUISES LTD (RCL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ROYAL CARIBBEAN CRUISES LTD (RCL) has a book value per share of $36.71, based on its most recent annual SEC filing.