ROYAL CARIBBEAN CRUISES LTD (RCL)
As-reported financials and recent SEC filings for ROYAL CARIBBEAN CRUISES LTD, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About ROYAL CARIBBEAN CRUISES LTD
Royal Caribbean Cruises Ltd operates a global cruise vacation business with three main brands: Royal Caribbean, Celebrity Cruises, and Silversea. The company offers a variety of cruise itineraries to destinations worldwide, serving different market segments from family-friendly to ultra-luxury travel. It also holds a 50% joint venture in TUI Cruises, which targets the German cruise market.
Snapshot
Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).
What changed at Royal Caribbean Cruises
- Revenue grew 8.8% to $17.9B in FY2025, slower than the 18.6% the year before.
- Operating margin turned positive at 27.4% in FY2025, from a 252.6% operating loss in FY2021.
- Most recent quarter Q1 FY2026: revenue $4.5B, up 11.3% from Q1 FY2025.
- Free cash flow was $1.2B in FY2025, 6.9% of revenue.
- Net income rose 48.3% to $4.3B in FY2025.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Royal Caribbean Cruises’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
Royal Caribbean Cruises’s net margin of 23.8% ranks in the 98th percentile of the 377 Consumer Discretionary companies reporting it. Royal Caribbean Cruises’s operating margin of 27.4% ranks in the 97th percentile of the 348 Consumer Discretionary companies reporting it. Royal Caribbean Cruises’s return on equity of 41.7% ranks in the 91st percentile of the 343 Consumer Discretionary companies reporting it.
No open-market insider transactions recorded in the last 90 days. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →
Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-07-15 | 13.1M | +3.0% | 5.92 |
| 2026-06-30 | 12.7M | -0.5% | 4.30 |
| 2026-06-15 | 12.8M | -5.1% | 5.12 |
| 2026-05-29 | 13.5M | +8.6% | 3.53 |
| 2026-05-15 | 12.4M | +0.9% | 4.92 |
| 2026-04-30 | 12.3M | -2.2% | 4.03 |
| 2026-04-15 | 12.6M | +1.9% | 5.62 |
| 2026-03-31 | 12.3M | +1.6% | 5.16 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $17.93B | $16.48B | $13.90B | $8.84B | $1.53B |
| Gross profit | $8.85B | $7.83B | $6.13B | $2.22B | $-1.21B |
| Operating income | $4.91B | $4.11B | $2.88B | $-766.0M | $-3.87B |
| Net income | $4.27B | $2.88B | $1.70B | $-2.16B | $-5.26B |
| Diluted EPS | $15.61 | $10.94 | $6.31 | $-8.45 | $-20.89 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $825.0M | $388.0M | $497.0M | $1.94B | $2.70B |
| Current assets | $2.21B | $1.71B | $1.79B | $3.21B | $3.60B |
| Total assets | $41.62B | $37.07B | $35.13B | $33.78B | $32.26B |
| Current liabilities | $12.05B | $9.82B | $9.40B | $8.57B | $7.29B |
| Long-term debt | $18.16B | $18.47B | $19.73B | $21.30B | $18.85B |
| Total liabilities | $31.37B | $29.34B | $30.23B | $30.91B | $27.17B |
| Total equity | $10.24B | $7.74B | $4.90B | $2.87B | $5.09B |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $6.46B | $5.26B | $4.48B | $481.0M | $-1.88B |
| Capital expenditure | $5.23B | $3.27B | $3.90B | $2.71B | $2.23B |
| Free cash flow | $1.24B | $2.00B | $580.0M | $-2.23B | $-4.11B |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q1 FY2026 | $4.45B | 11.3% | $941.0M | $3.48 |
| Q4 FY2025 | $4.26B | 13.3% | $754.0M | $2.78 |
| Q3 FY2025 | $5.14B | 5.2% | $1.57B | $5.74 |
| Q2 FY2025 | $4.54B | 10.4% | $1.21B | $4.41 |
| Q1 FY2025 | $4.00B | 7.3% | $730.0M | $2.70 |
| Q4 FY2024 | $3.76B | 12.9% | $552.0M | $2.00 |
| Q3 FY2024 | $4.89B | 17.5% | $1.11B | $4.21 |
| Q2 FY2024 | $4.11B | 16.7% | $854.0M | $3.11 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Recent SEC filings
Largest Consumer Discretionary peers
Monitor RCL
Get an alert when Royal Caribbean Cruises files something material, see which superinvestors own it, and ask its filings a question with cited answers.
Monitor RCL freeIncludes one free filing-grounded research answer. Or check your whole portfolio, no account needed.
Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.