Symbols / RCL Stock $260.43 -1.96% Royal Caribbean Cruises Ltd.

Consumer Cyclical • Travel Services • United States • NYQ
RCL (Stock) Chart
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About

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of December 31, 2025, it operated 69 ships. Royal Caribbean Cruises Ltd. was founded in 1968 and is headquartered in Miami, Florida.

Stock Fundamentals
Scroll to Statements
Market Cap 70.45B Enterprise Value 93.28B Income 4.27B Sales 17.93B Book/sh 37.12 Cash/sh 3.05
Dividend Yield 1.60% Payout 22.42% Employees 107950 IPO P/E 16.67 Forward P/E 13.00
PEG 1.11 P/S 3.93 P/B 7.02 P/C EV/EBITDA 14.05 EV/Sales 5.20
Quick Ratio 0.10 Current Ratio 0.18 Debt/Eq 215.09 LT Debt/Eq EPS (ttm) 15.62 EPS next Y 20.03
EPS Growth 37.10% Revenue Growth 13.30% Earnings 2026-04-30 ROA 7.81% ROE 47.73% ROIC
Gross Margin 50.62% Oper. Margin 21.98% Profit Margin 23.80% Shs Outstand 268.19M Shs Float 256.64M Short Float 5.52%
Short Ratio 4.50 Short Interest 52W High 366.50 52W Low 203.85 Beta 1.94 Avg Volume 2.61M
Volume 1.97M Target Price $346.88 Recom Buy Prev Close $265.64 Price $260.43 Change -1.96%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$346.88
Mean price target
2. Current target
$260.43
Latest analyst target
3. DCF / Fair value
$-13.26
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$260.43
Low
$250.00
High
$425.00
Mean
$346.88

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-15 main Wells Fargo Overweight → Overweight $349
2026-04-14 main UBS Buy → Buy $321
2026-04-13 main UBS Buy → Buy $350
2026-04-10 main Barclays Overweight → Overweight $351
2026-04-09 main Morgan Stanley Equal-Weight → Equal-Weight $310
2026-04-08 main JP Morgan Overweight → Overweight $341
2026-03-24 main Truist Securities Hold → Hold $327
2026-03-16 main JP Morgan Overweight → Overweight $376
2026-02-06 main Tigress Financial Buy → Buy $425
2026-02-03 main Morgan Stanley Equal-Weight → Equal-Weight $330
2026-02-02 main Citigroup Buy → Buy $398
2026-02-02 main JP Morgan Overweight → Overweight $371
2026-02-02 main Goldman Sachs Buy → Buy $370
2026-02-02 main Wells Fargo Overweight → Overweight $383
2026-01-30 main Jefferies Hold → Hold $334
2026-01-30 main Barclays Overweight → Overweight $361
2026-01-30 main Stifel Buy → Buy $420
2026-01-23 main Goldman Sachs Buy → Buy $310
2026-01-22 main Truist Securities Hold → Hold $318
2026-01-22 main Mizuho Outperform → Outperform $381
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-02-27 WILHELMSEN ARNE ALEXANDER Director 771,607 $310.78 $243,570,580
2026-02-27 WIERNICKI CHRISTOPHER J. Director 444 $0.00 $0
2026-02-24 WILHELMSEN ARNE ALEXANDER Director 473,548 $310.12 $149,441,189
2026-02-19 WILHELMSEN ARNE ALEXANDER Director 206,442 $310.38 $65,426,312
2026-02-17 WILHELMSEN ARNE ALEXANDER Director 280,000 $319.28 $91,172,995
2026-02-17 MONTIEL MARITZA GOMEZ Director 1,385 $327.18 $453,137
2026-02-17 BETHGE LAURA H Officer 7,854 $326.21 $2,562,053
2026-02-13 PUJOL HENRY L Officer 4,442 $327.99 $1,456,932
2026-02-13 BAYLEY MICHAEL W Officer 80,000 $322.66 $26,145,464
2026-02-13 LIBERTY JASON T Chief Executive Officer 90,910 $322.65 $29,709,953
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
17,934.00
+8.79%
16,485.00
+18.60%
13,900.00
+57.24%
8,840.00
Operating Revenue
17,934.00
+8.79%
16,485.00
+18.60%
13,900.00
+57.24%
8,840.00
Cost Of Revenue
9,083.00
+4.98%
8,652.00
+11.28%
7,775.00
+17.52%
6,616.00
Reconciled Cost Of Revenue
9,083.00
+4.98%
8,652.00
+11.28%
7,775.00
+17.52%
6,616.00
Gross Profit
8,851.00
+13.00%
7,833.00
+27.89%
6,125.00
+175.40%
2,224.00
Operating Expense
3,941.00
+5.80%
3,725.00
+14.72%
3,247.00
+8.60%
2,990.00
Selling General And Administration
2,223.00
+4.61%
2,125.00
+18.58%
1,792.00
+13.20%
1,583.00
Total Expenses
13,024.00
+5.23%
12,377.00
+12.29%
11,022.00
+14.74%
9,606.00
Operating Income
4,910.00
+19.52%
4,108.00
+42.74%
2,878.00
+475.72%
-766.00
Total Operating Income As Reported
4,910.00
+19.58%
4,106.00
+42.67%
2,878.00
+475.72%
-766.00
EBITDA
7,083.00
+15.49%
6,133.00
+34.29%
4,567.00
+642.60%
615.00
Normalized EBITDA
7,083.00
+15.49%
6,133.00
+34.29%
4,567.00
+642.60%
615.00
Reconciled Depreciation
1,718.00
+7.38%
1,600.00
+9.97%
1,455.00
+3.41%
1,407.00
EBIT
5,365.00
+18.35%
4,533.00
+45.66%
3,112.00
+492.93%
-792.00
Total Unusual Items
200.00
+35687.19%
-0.56
Total Unusual Items Excluding Goodwill
200.00
+35687.19%
-0.56
Special Income Charges
-0.56
Write Off
0.56
Net Income
4,268.00
+48.35%
2,877.00
+69.53%
1,697.00
+178.71%
-2,156.00
Pretax Income
4,373.00
+48.59%
2,943.00
+72.11%
1,710.00
+179.31%
-2,156.00
Net Non Operating Interest Income Expense
-968.00
+38.50%
-1,574.00
-15.23%
-1,366.00
-2.86%
-1,328.00
Interest Expense Non Operating
992.00
-37.61%
1,590.00
+13.41%
1,402.00
+2.79%
1,364.00
Net Interest Income
-968.00
+38.50%
-1,574.00
-15.23%
-1,366.00
-2.86%
-1,328.00
Interest Expense
992.00
-37.61%
1,590.00
+13.41%
1,402.00
+2.79%
1,364.00
Interest Income Non Operating
24.00
+50.00%
16.00
-55.56%
36.00
+0.00%
36.00
Interest Income
24.00
+50.00%
16.00
-55.56%
36.00
+0.00%
36.00
Other Income Expense
431.00
+5.38%
409.00
+106.57%
198.00
+419.35%
-62.00
Other Non Operating Income Expenses
17.00
-88.59%
149.00
+7550.00%
-2.00
+98.32%
-119.00
Gain On Sale Of Security
200.00
+250.88%
57.00
Tax Provision
82.00
+78.26%
46.00
+666.67%
6.00
Tax Rate For Calcs
0.00
+19.97%
0.00
+345.43%
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
4,291.00
+48.17%
2,896.00
+69.95%
1,704.00
+179.04%
-2,156.00
Net Income From Continuing Operation Net Minority Interest
4,268.00
+48.35%
2,877.00
+69.53%
1,697.00
+178.71%
-2,156.00
Net Income From Continuing And Discontinued Operation
4,268.00
+48.35%
2,877.00
+69.53%
1,697.00
+178.71%
-2,156.00
Net Income Continuous Operations
4,291.00
+48.12%
2,897.00
+70.01%
1,704.00
+179.04%
-2,156.00
Minority Interests
-23.00
-27.78%
-18.00
-157.14%
-7.00
0.00
Normalized Income
4,268.00
+48.35%
2,877.00
+69.53%
1,697.00
+178.71%
-2,156.00
Net Income Common Stockholders
4,268.00
+48.35%
2,877.00
+69.53%
1,697.00
+178.71%
-2,156.00
Diluted EPS
15.61
+41.91%
11.00
+74.33%
6.31
+174.67%
-8.45
Basic EPS
15.75
+43.18%
11.00
+65.91%
6.63
+178.46%
-8.45
Basic Average Shares
271.00
+3.83%
261.00
+1.95%
256.00
+0.39%
255.01
Diluted Average Shares
274.00
-1.79%
279.00
-1.41%
283.00
+10.98%
255.01
Diluted NI Availto Com Stockholders
4,284.00
+40.37%
3,052.00
+70.98%
1,785.00
+182.79%
-2,156.00
Average Dilution Earnings
16.00
-90.86%
175.00
+98.86%
88.00
0.00
Depreciation Amortization Depletion Income Statement
1,718.00
+7.38%
1,600.00
+9.97%
1,455.00
+3.41%
1,407.00
Depreciation And Amortization In Income Statement
1,718.00
+7.38%
1,600.00
+9.97%
1,455.00
+3.41%
1,407.00
Earnings From Equity Interest
414.00
+59.23%
260.00
+30.00%
200.00
+250.88%
57.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
41,619.00
+12.27%
37,070.00
+5.52%
35,131.00
+4.01%
33,776.00
Current Assets
2,211.00
+29.68%
1,705.00
-4.85%
1,792.00
-44.09%
3,205.00
Cash Cash Equivalents And Short Term Investments
825.00
+112.63%
388.00
-21.93%
497.00
-74.32%
1,935.00
Cash And Cash Equivalents
825.00
+112.63%
388.00
-21.93%
497.00
-74.32%
1,935.00
Receivables
317.00
-14.56%
371.00
-8.40%
405.00
-23.73%
531.00
Accounts Receivable
317.00
-14.56%
371.00
-8.40%
405.00
-23.73%
531.00
Gross Accounts Receivable
411.60
-24.14%
542.60
Allowance For Doubtful Accounts Receivable
-6.60
+43.10%
-11.60
Inventory
264.00
-0.38%
265.00
+6.85%
248.00
+10.71%
224.00
Prepaid Assets
Hedging Assets Current
115.00
+945.45%
11.00
-56.00%
25.00
-57.63%
59.00
Other Current Assets
690.00
+2.99%
670.00
+8.59%
617.00
+35.31%
456.00
Total Non Current Assets
39,408.00
+11.43%
35,365.00
+6.08%
33,339.00
+9.05%
30,571.00
Net PPE
36,316.00
+11.71%
32,508.00
+5.80%
30,725.00
+9.40%
28,084.00
Gross PPE
53,292.00
+11.45%
47,817.00
+7.37%
44,535.00
+9.66%
40,613.00
Accumulated Depreciation
-16,976.00
-10.89%
-15,309.00
-10.85%
-13,810.00
-10.22%
-12,529.00
Properties
1,519.00
+71.25%
887.00
+16.25%
763.00
-1.17%
772.00
Machinery Furniture Equipment
2,070.00
+24.10%
1,668.00
+4.58%
1,595.00
+4.18%
1,531.00
Construction In Progress
1,312.00
+25.19%
1,048.00
-65.66%
3,052.00
+187.65%
1,061.00
Other Properties
620.00
-8.42%
677.00
+10.80%
611.00
+13.57%
538.00
Goodwill And Other Intangible Assets
808.00
+0.00%
808.00
-0.12%
809.00
+0.00%
809.00
Goodwill
808.00
+0.00%
808.00
-0.12%
809.00
+0.00%
809.00
Other Intangible Assets
426.38
Other Non Current Assets
2,284.00
+11.47%
2,049.00
+13.52%
1,805.00
+7.57%
1,678.00
Total Liabilities Net Minority Interest
31,374.00
+6.95%
29,335.00
-2.97%
30,232.00
-2.18%
30,907.00
Current Liabilities
12,055.00
+22.80%
9,817.00
+4.43%
9,401.00
+9.66%
8,573.00
Payables And Accrued Expenses
2,979.00
+16.64%
2,554.00
+12.51%
2,270.00
+7.79%
2,106.00
Payables
953.00
+3.70%
919.00
+16.04%
792.00
+22.41%
647.00
Accounts Payable
953.00
+3.70%
919.00
+16.04%
792.00
+22.41%
647.00
Current Accrued Expenses
2,026.00
+23.91%
1,635.00
+10.62%
1,478.00
+1.30%
1,459.00
Current Debt And Capital Lease Obligation
3,270.00
+94.99%
1,677.00
-6.05%
1,785.00
-17.67%
2,168.00
Current Debt
3,180.00
+98.38%
1,603.00
-6.80%
1,720.00
-17.62%
2,088.00
Other Current Borrowings
3,180.00
+98.38%
1,603.00
-6.80%
1,720.00
-17.62%
2,088.00
Current Capital Lease Obligation
90.00
+21.62%
74.00
+13.85%
65.00
-18.75%
80.00
Current Deferred Liabilities
5,739.00
+4.42%
5,496.00
+3.48%
5,311.00
+27.42%
4,168.00
Current Deferred Revenue
5,739.00
+4.42%
5,496.00
+3.48%
5,311.00
+27.42%
4,168.00
Other Current Liabilities
67.00
-25.56%
90.00
+157.14%
35.00
-73.28%
131.00
Total Non Current Liabilities Net Minority Interest
19,319.00
-1.02%
19,518.00
-6.30%
20,831.00
-6.73%
22,334.00
Long Term Debt And Capital Lease Obligation
18,765.00
-1.97%
19,143.00
-5.91%
20,345.00
-6.79%
21,826.00
Long Term Debt
18,165.00
-1.67%
18,473.00
-6.38%
19,732.00
-7.37%
21,303.00
Long Term Capital Lease Obligation
600.00
-10.45%
670.00
+9.30%
613.00
+17.21%
523.00
Other Non Current Liabilities
554.00
+47.73%
375.00
-22.84%
486.00
-4.33%
508.00
Stockholders Equity
10,037.00
+32.71%
7,563.00
+60.10%
4,724.00
+64.66%
2,869.00
Common Stock Equity
10,037.00
+32.71%
7,563.00
+60.10%
4,724.00
+64.66%
2,869.00
Capital Stock
3.00
+0.00%
3.00
+0.00%
3.00
+0.00%
3.00
Common Stock
3.00
+0.00%
3.00
+0.00%
3.00
+0.00%
3.00
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
303.05
+1.91%
297.37
+4.46%
284.67
+0.50%
283.26
Ordinary Shares Number
270.42
+0.57%
268.90
+4.87%
256.42
+0.46%
255.24
Treasury Shares Number
32.63
+14.62%
28.47
+0.78%
28.25
+0.82%
28.02
Additional Paid In Capital
7,964.00
+1.70%
7,831.00
+4.78%
7,474.00
+2.59%
7,285.00
Retained Earnings
5,925.00
+126.84%
2,612.00
+26220.00%
-10.00
+99.41%
-1,707.00
Gains Losses Not Affecting Retained Earnings
-604.00
+24.69%
-802.00
-18.99%
-674.00
-4.66%
-644.00
Treasury Stock
3,251.00
+56.22%
2,081.00
+0.58%
2,069.00
+0.05%
2,068.00
Minority Interest
208.00
+20.93%
172.00
-1.71%
175.00
0.00
Other Equity Adjustments
-604.00
+24.69%
-802.00
-18.99%
-674.00
-4.66%
-644.00
Total Equity Gross Minority Interest
10,245.00
+32.45%
7,735.00
+57.89%
4,899.00
+70.76%
2,869.00
Total Capitalization
28,202.00
+8.32%
26,036.00
+6.46%
24,456.00
+1.17%
24,172.00
Working Capital
-9,844.00
-21.35%
-8,112.00
-6.61%
-7,609.00
-41.75%
-5,368.00
Invested Capital
31,382.00
+13.54%
27,639.00
+5.59%
26,176.00
-0.32%
26,260.00
Total Debt
22,035.00
+5.84%
20,820.00
-5.92%
22,130.00
-7.77%
23,994.00
Net Debt
20,520.00
+4.23%
19,688.00
-6.05%
20,955.00
-2.34%
21,456.00
Capital Lease Obligations
690.00
-7.26%
744.00
+9.73%
678.00
+12.44%
603.00
Net Tangible Assets
9,229.00
+36.62%
6,755.00
+72.54%
3,915.00
+90.05%
2,060.00
Tangible Book Value
9,229.00
+36.62%
6,755.00
+72.54%
3,915.00
+90.05%
2,060.00
Commercial Paper
Interest Payable
388.83
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
6,465.00
+22.79%
5,265.00
+17.60%
4,477.00
+830.77%
481.00
Cash Flow From Continuing Operating Activities
6,465.00
+22.79%
5,265.00
+17.60%
4,477.00
+830.77%
481.00
Net Income From Continuing Operations
4,291.00
+48.17%
2,896.00
+69.95%
1,704.00
+179.04%
-2,156.00
Depreciation Amortization Depletion
1,718.00
+7.38%
1,600.00
+9.97%
1,455.00
+3.41%
1,407.00
Depreciation And Amortization
1,718.00
+7.38%
1,600.00
+9.97%
1,455.00
+3.41%
1,407.00
Other Non Cash Items
63.00
+672.73%
-11.00
-109.48%
116.00
+9.43%
106.00
Stock Based Compensation
175.00
-34.46%
267.00
+111.90%
126.00
+250.00%
36.00
Asset Impairment Charge
0.56
Deferred Tax
18.00
0.00
+100.00%
-8.00
+63.64%
-22.00
Deferred Income Tax
18.00
0.00
+100.00%
-8.00
+63.64%
-22.00
Operating Gains Losses
-447.00
-259.64%
280.00
+385.71%
-98.00
-171.53%
137.00
Gain Loss On Investment Securities
-49.00
-163.64%
77.00
+505.26%
-19.00
-119.00%
100.00
Net Foreign Currency Exchange Gain Loss
0.00
Change In Working Capital
383.00
+87.75%
204.00
-82.58%
1,171.00
+20.35%
973.00
Change In Receivables
-3.00
-105.77%
52.00
-47.47%
99.00
+142.31%
-234.00
Change In Inventory
0.00
+100.00%
-17.00
+29.17%
-24.00
+67.57%
-74.00
Change In Prepaid Assets
-100.00
+27.01%
-137.00
+25.54%
-184.00
-20.26%
-153.00
Change In Payables And Accrued Expense
243.00
+102.50%
120.00
-12.41%
137.00
-67.92%
427.00
Change In Accrued Expense
216.00
0.00
-100.00%
13.00
-96.31%
352.00
Change In Payable
27.00
-77.50%
120.00
-3.23%
124.00
+65.33%
75.00
Change In Account Payable
27.00
-77.50%
120.00
-3.23%
124.00
+65.33%
75.00
Change In Other Working Capital
243.00
+30.65%
186.00
-83.73%
1,143.00
+13.51%
1,007.00
Investing Cash Flow
-5,012.00
-45.44%
-3,446.00
+12.16%
-3,923.00
-31.34%
-2,987.00
Cash Flow From Continuing Investing Activities
-5,012.00
-45.44%
-3,446.00
+12.16%
-3,923.00
-31.34%
-2,987.00
Net PPE Purchase And Sale
-5,229.00
-60.01%
-3,268.00
+16.14%
-3,897.00
-43.80%
-2,710.00
Purchase Of PPE
-5,229.00
-60.01%
-3,268.00
+16.14%
-3,897.00
-43.80%
-2,710.00
Sale Of PPE
13.00
+2987.89%
0.42
Capital Expenditure
-5,229.00
-60.01%
-3,268.00
+16.14%
-3,897.00
-43.80%
-2,710.00
Net Investment Purchase And Sale
176.00
+251.72%
-116.00
-127.45%
-51.00
+83.17%
-303.00
Purchase Of Investment
-24.00
+81.54%
-130.00
-51.16%
-86.00
+75.84%
-356.00
Sale Of Investment
200.00
+1328.57%
14.00
-60.00%
35.00
-33.96%
53.00
Net Business Purchase And Sale
-106.00
-58.21%
-67.00
-116.13%
-31.00
0.00
Purchase Of Business
-106.00
-58.21%
-67.00
-116.13%
-31.00
0.00
Net Other Investing Changes
147.00
+2840.00%
5.00
-91.07%
56.00
+115.38%
26.00
Financing Cash Flow
-1,018.00
+47.03%
-1,922.00
+3.56%
-1,993.00
-214.47%
1,741.00
Cash Flow From Continuing Financing Activities
-1,018.00
+47.03%
-1,922.00
+3.56%
-1,993.00
-214.47%
1,741.00
Net Issuance Payments Of Debt
1,135.00
+169.85%
-1,625.00
+18.95%
-2,005.00
-199.80%
2,009.00
Issuance Of Debt
4,671.00
-54.73%
10,318.00
+35.03%
7,641.00
-21.93%
9,787.00
Repayment Of Debt
-3,536.00
+70.39%
-11,943.00
-23.81%
-9,646.00
-24.02%
-7,778.00
Long Term Debt Issuance
4,671.00
-54.73%
10,318.00
+35.03%
7,641.00
-21.93%
9,787.00
Long Term Debt Payments
-3,536.00
+70.39%
-11,943.00
-23.81%
-9,646.00
-24.02%
-7,778.00
Net Long Term Debt Issuance
1,135.00
+169.85%
-1,625.00
+18.95%
-2,005.00
-199.80%
2,009.00
Short Term Debt Issuance
0.00
Short Term Debt Payments
0.00
0.00
Net Short Term Debt Issuance
0.00
0.00
Net Common Stock Issuance
-1,159.00
0.00
0.00
0.00
Common Stock Payments
-1,159.00
0.00
0.00
Common Stock Dividend Paid
-824.00
-670.09%
-107.00
0.00
0.00
Cash Dividends Paid
-824.00
-670.09%
-107.00
0.00
0.00
Repurchase Of Capital Stock
-1,159.00
0.00
0.00
Net Other Financing Charges
-170.00
+10.53%
-190.00
-1683.33%
12.00
+104.48%
-268.00
Changes In Cash
435.00
+522.33%
-103.00
+92.84%
-1,439.00
-88.10%
-765.00
Effect Of Exchange Rate Changes
2.00
+133.33%
-6.00
-700.00%
1.00
+150.00%
-2.00
Beginning Cash Position
388.00
-21.93%
497.00
-74.32%
1,935.00
-28.39%
2,702.00
End Cash Position
825.00
+112.63%
388.00
-21.93%
497.00
-74.32%
1,935.00
Free Cash Flow
1,236.00
-38.11%
1,997.00
+244.31%
580.00
+126.02%
-2,229.00
Interest Paid Supplemental Data
864.00
-28.60%
1,210.00
-16.09%
1,442.00
+50.21%
960.00
Change In Interest Payable
136.85
Common Stock Issuance
0.00
0.00
Dividend Received CFO
264.00
+810.34%
29.00
+163.64%
11.00
Earnings Losses From Equity Investments
-414.00
-59.23%
-260.00
-30.00%
-200.00
-250.88%
-57.00
Issuance Of Capital Stock
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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