Royal Caribbean Group (RCL)

NYSE Consumer Discretionary Hotels, Resorts & Cruise Lines S&P 500

$327.16

+4.43 (+1.37%)

Close of Nov 06, 2026 · end-of-day data

Source: Royal Caribbean Group's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$8.50B	$8.78B	$9.49B	$10.95B	$2.21B	$1.53B	$8.84B	$13.90B	$16.48B	$17.93B
Cost of revenue	$5.02B	$4.90B	$5.26B	$6.06B	$2.77B	$2.74B	$6.62B	$7.78B	$8.65B	$9.08B
Gross profit	$3.48B	$3.88B	$4.23B	$4.89B	-$556.30M	-$1.21B	$2.22B	$6.12B	$7.83B	$8.85B
Selling, general & admin	$1.11B	$1.19B	$1.30B	$1.56B	$1.20B	$1.37B	$1.58B	$1.79B	$2.12B	$2.22B
Operating income	$1.48B	$1.74B	$1.89B	$2.08B	-$4.60B	-$3.87B	-$766.00M	$2.88B	$4.11B	$4.91B
Interest expense	$307.37M	$299.98M	$333.67M	$408.51M	$844.24M	$1.29B	$1.36B	$1.40B	$1.59B	$992.00M
Pre-tax income	—	—	—	—	—	—	—	$1.71B	$2.94B	$4.37B
Income tax	—	—	—	—	—	-$45.00M	$4.00M	$6.00M	$46.00M	$82.00M
Net income	$1.28B	$1.63B	$1.81B	$1.88B	-$5.80B	-$5.26B	-$2.16B	$1.70B	$2.88B	$4.27B
EBITDA	$2.37B	$2.70B	$2.93B	$3.33B	-$3.32B	-$2.58B	$641.00M	$4.33B	$5.71B	$6.63B
EPS (basic)	$5.96	$7.57	$8.60	$8.97	$-27.05	$-20.89	$-8.45	$6.63	$11.00	$15.75
EPS (diluted)	$5.93	$7.53	$8.56	$8.95	$-27.05	$-20.89	$-8.45	$6.31	$10.94	$15.61
Diluted shares	216.32M	215.69M	211.55M	209.93M	214.34M	252.00M	255.00M	283.00M	279.00M	274.00M
Gross margin	41.0%	44.2%	44.6%	44.6%	-25.2%	-78.8%	25.2%	44.1%	47.5%	49.4%
Operating margin	17.4%	19.9%	20.0%	19.0%	-208.3%	-252.6%	-8.7%	20.7%	24.9%	27.4%
Net margin	15.1%	18.5%	19.1%	17.2%	-262.5%	-343.3%	-24.4%	12.2%	17.5%	23.8%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$132.60M	$120.11M	$287.85M	$243.74M	$3.68B	$2.70B	$1.94B	$497.00M	$388.00M	$825.00M
Receivables	$291.90M	$318.64M	$324.51M	$305.82M	$284.15M	$408.07M	$531.00M	$405.00M	$371.00M	$317.00M
Inventory	$114.09M	$111.39M	$153.57M	$162.11M	$118.70M	$150.22M	$224.00M	$248.00M	$265.00M	$264.00M
Total current assets	$748.30M	$907.64M	$1.24B	$1.16B	$4.31B	$3.60B	$3.21B	$1.79B	$1.71B	$2.21B
Goodwill	$288.39M	$288.51M	$1.38B	$1.39B	$809.48M	$809.38M	$809.00M	$809.00M	$808.00M	$808.00M
Total assets	$22.31B	$22.36B	$27.70B	$30.32B	$32.47B	$32.26B	$33.78B	$35.13B	$37.07B	$41.62B
Total current liabilities	$4.44B	$4.85B	$7.11B	$7.95B	$4.54B	$7.29B	$8.57B	$9.40B	$9.82B	$12.05B
Short-term debt	$1.29B	$1.19B	$2.42B	$2.62B	$1.37B	$2.24B	$2.09B	$1.72B	$1.60B	$3.18B
Long-term debt	$8.10B	$6.35B	$8.36B	$8.41B	$17.96B	$18.85B	$21.30B	$19.73B	$18.47B	$18.16B
Total debt	$9.39B	$7.54B	$10.78B	$11.03B	$19.33B	$21.09B	$23.39B	$21.45B	$20.08B	$21.34B
Total liabilities	$13.19B	$11.66B	$16.05B	$17.59B	$23.70B	$27.17B	$30.91B	$30.23B	$29.34B	$31.37B
Shareholders' equity	$9.12B	$10.70B	$11.11B	$12.16B	$8.76B	$5.09B	$2.87B	$4.72B	$7.56B	$10.04B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$2.52B	$2.87B	$3.48B	$3.72B	-$3.73B	-$1.88B	$481.00M	$4.48B	$5.26B	$6.46B
Capital expenditures	$2.49B	$564.14M	$3.66B	$3.02B	$1.97B	$2.23B	$2.71B	$3.90B	$3.27B	$5.23B
Free cash flow	$22.33M	$2.31B	-$180.89M	$691.70M	-$5.70B	-$4.11B	-$2.23B	$580.00M	$2.00B	$1.24B
Investing cash flow	-$2.72B	-$213.59M	-$4.49B	-$3.09B	-$2.18B	-$2.15B	-$2.99B	-$3.92B	-$3.45B	-$5.01B
Financing cash flow	$243.81M	-$2.68B	$1.20B	-$670.37M	$9.35B	$3.04B	$1.74B	-$1.99B	-$1.92B	-$1.02B
Dividends paid	$346.49M	$437.45M	$527.49M	$602.67M	$326.42M	$0	$0	$0	$107.00M	$824.00M
Share buybacks	$299.96M	$225.00M	$575.04M	$99.58M	$0	$0	—	$0	$0	$1.16B
Stock-based compensation	$32.66M	$69.46M	$46.06M	$75.93M	$39.78M	$64.00M	$36.00M	$126.00M	$267.00M	$175.00M
Depreciation & amortization	$894.91M	$951.19M	$1.03B	$1.25B	$1.28B	$1.29B	$1.41B	$1.46B	$1.60B	$1.72B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$3.33B	$3.73B	$4.11B	$4.89B	$3.76B	$4.00B	$4.54B	$5.14B	$4.26B	$4.45B	$4.83B	$5.59B
Cost of revenue	$1.89B	$2.06B	$2.15B	$2.39B	$2.05B	$2.08B	$2.28B	$2.48B	$2.24B	$2.25B	$2.55B	$2.71B
Gross profit	$1.44B	$1.67B	$1.96B	$2.50B	$1.71B	$1.92B	$2.25B	$2.66B	$2.02B	$2.21B	$2.29B	$2.88B
Selling, general & admin	$503.00M	$535.00M	$466.00M	$451.00M	$673.00M	$562.00M	$508.00M	$522.00M	$630.00M	$582.00M	$513.00M	$519.00M
Operating income	$570.00M	$750.00M	$1.10B	$1.63B	$624.00M	$945.00M	$1.33B	$1.70B	$933.00M	$1.16B	$1.31B	$1.87B
Interest expense	$346.48M	$424.00M	$298.00M	$603.00M	$266.00M	$249.00M	$228.00M	$248.00M	$267.00M	$278.00M	$236.00M	$291.00M
Pre-tax income	—	—	—	—	—	$751.00M	$1.23B	$1.61B	$777.00M	$976.00M	$1.15B	$1.76B
Income tax	—	—	—	—	—	$16.00M	$17.00M	$34.00M	$15.00M	$26.00M	$14.00M	$27.00M
Net income	$277.00M	$360.00M	$854.00M	$1.11B	$552.00M	$730.00M	$1.21B	$1.57B	$754.00M	$941.00M	$1.13B	$1.73B
EBITDA	$938.00M	$1.14B	$1.49B	$2.04B	$1.03B	$1.36B	$1.75B	$2.14B	$1.39B	$1.62B	$1.77B	$2.36B
EPS (basic)	$1.08	$1.40	$3.32	$4.22	$2.02	$2.71	$4.45	$5.79	$2.78	$3.49	$4.21	$6.46
EPS (diluted)	$1.07	$1.35	$3.11	$4.21	$2.03	$2.70	$4.41	$5.74	$2.78	$3.48	$4.20	$6.45
Diluted shares	-1.00M	281.00M	281.00M	264.00M	-1.00M	276.00M	275.00M	274.00M	-1.00M	271.00M	268.00M	268.00M
Gross margin	43.3%	44.8%	47.6%	51.1%	45.4%	48.0%	49.7%	51.8%	47.4%	49.5%	47.3%	51.5%
Operating margin	17.1%	20.1%	26.7%	33.4%	16.6%	23.6%	29.3%	33.1%	21.9%	26.1%	27.0%	33.5%
Net margin	8.3%	9.7%	20.8%	22.7%	14.7%	18.3%	26.7%	30.6%	17.7%	21.1%	23.3%	30.9%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$497.00M	$437.00M	$391.00M	$418.00M	$388.00M	$386.00M	$735.00M	$432.00M	$825.00M	$512.00M	$875.00M	$851.00M
Receivables	$405.00M	$455.00M	$412.00M	$441.00M	$371.00M	$427.00M	$431.00M	$356.00M	$317.00M	$479.00M	$441.00M	$409.00M
Inventory	$248.00M	$236.00M	$242.00M	$265.00M	$265.00M	$256.00M	$247.00M	$269.00M	$264.00M	$271.00M	$267.00M	$304.00M
Total current assets	$1.79B	$1.87B	$1.89B	$1.83B	$1.71B	$1.83B	$2.45B	$1.89B	$2.21B	$2.20B	$2.43B	$2.47B
Goodwill	$809.00M	$809.00M	$809.00M	$809.00M	$808.00M	$808.00M	$808.00M	$808.00M	$808.00M	$808.00M	$808.00M	$808.00M
Total assets	$35.13B	$35.19B	$36.97B	$37.07B	$37.07B	$37.45B	$38.54B	$40.11B	$41.62B	$41.99B	$44.64B	$44.81B
Total current liabilities	$9.40B	$9.90B	$9.89B	$9.63B	$9.82B	$10.30B	$10.57B	$11.47B	$12.05B	$11.06B	$11.65B	$11.41B
Short-term debt	$1.72B	$1.64B	$1.33B	$1.87B	$1.60B	$1.40B	$1.40B	$3.07B	$3.18B	$1.45B	$1.57B	$2.24B
Long-term debt	$19.73B	$18.88B	$19.79B	$18.97B	$18.47B	$17.99B	$17.61B	$17.20B	$18.16B	$19.67B	$21.26B	$20.12B
Total debt	$21.45B	$20.52B	$21.12B	$20.84B	$20.08B	$19.39B	$19.01B	$20.28B	$21.34B	$21.11B	$22.84B	$22.36B
Total liabilities	$30.23B	$29.86B	$30.79B	$29.84B	$29.34B	$29.31B	$29.18B	$29.82B	$31.37B	$31.96B	$34.18B	$32.90B
Shareholders' equity	$4.72B	$5.15B	$6.01B	$7.04B	$7.56B	$7.96B	$9.17B	$10.09B	$10.04B	$9.81B	$10.24B	$11.71B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$1.12B	$1.33B	$1.57B	$897.00M	$1.47B	$1.63B	$1.75B	$1.47B	$1.62B	$1.83B	$1.86B	$1.58B
Capital expenditures	$2.57B	$242.00M	$2.14B	$334.00M	$552.00M	$428.00M	$836.00M	$2.46B	$1.51B	$500.00M	$2.74B	$643.00M
Free cash flow	-$1.45B	$1.09B	-$567.00M	$563.00M	$915.00M	$1.20B	$910.00M	-$989.00M	$116.00M	$1.33B	-$877.00M	$937.00M
Investing cash flow	-$2.57B	-$296.00M	-$2.20B	-$311.00M	-$641.00M	-$440.00M	-$706.00M	-$2.39B	-$1.48B	-$529.00M	-$2.67B	-$630.00M
Financing cash flow	$1.35B	-$1.09B	$580.00M	-$559.00M	-$852.00M	-$1.19B	-$696.00M	$615.00M	$254.00M	-$1.62B	$1.18B	-$974.00M
Dividends paid	—	$0	$0	$0	$107.00M	$148.00M	$200.00M	$204.00M	$272.00M	$270.00M	$404.00M	$401.00M
Share buybacks	—	$0	$0	$0	$0	$241.00M	$0	$414.00M	$504.00M	$836.00M	$199.00M	$0
Stock-based compensation	$47.00M	$45.00M	$38.00M	$26.00M	$158.00M	$53.00M	$39.00M	$44.00M	$39.00M	$38.00M	$30.00M	$26.00M
Depreciation & amortization	$368.00M	$387.00M	$393.00M	$410.00M	$410.00M	$412.00M	$417.00M	$435.00M	$453.00M	$461.00M	$464.00M	$490.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.