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Royal Caribbean RCL

US equityMarket cap rank #254Travel ServicesCruise Lines
$240.88
+$10.58 (+4.59%)
Market open · Sep 24, 2:00 pm ET
After hours $230.35 +0.02%
Open$233.77
Prev close$230.30
Day range$232.00 – $243.18
Volume2.98M
Market cap$64.42B
P/E (TTM)14.9
Dividend yield2.08%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$4.83B+6.5% YoY
Operating profit$1.31B-1.7% YoY
Net profit$1.14B-6.4% YoY
Diluted EPS$4.20-4.8% YoY
Free cash flow-$877.00M-196.4% YoY
Operating cash flow$1.86B

Revenue, last 8 quarters

$4.9BSep '24$3.8BDec '24$4.0BMar '25$4.5BJun '25$5.1BSep '25$4.3BDec '25$4.5BMar '26$4.8BJun '26

Net profit, last 8 quarters

$1.1BSep '24$559.0MDec '24$736.0MMar '25$1.2BJun '25$1.6BSep '25$762.0MDec '25$950.0MMar '26$1.1BJun '26

Diluted EPS by quarter

4.21Sep '242.06Dec '242.70Mar '254.41Jun '255.74Sep '252.76Dec '253.48Mar '264.20Jun '26

Free cash flow by quarter

$563.0MSep '24$915.0MDec '24$1.2BMar '25$910.0MJun '25$-989.0MSep '25$116.0MDec '25$1.3BMar '26$-877.0MJun '26

Annual revenue

$2.2BFY20$1.5BFY21$8.8BFY22$13.9BFY23$16.5BFY24$17.9BFY25

Profitability & balance sheet

Gross margin49.1%
Operating margin27.3%
Net margin23.5%
Return on equity45.3%
Return on assets10.6%
Return on invested capital17.2%
Current ratio0.21
Liabilities / assets76.6%
Cash & investments$875.00M
Total debt$23.45B
Net cash (debt)-$22.57B

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $4.83B $4.45B $17.94B $4.26B $5.14B
Total Operating Revenue $4.83B $4.45B $17.93B $4.26B $5.14B
Cost of Revenue $2.55B $2.25B $9.08B $2.24B $2.48B
Gross Profit $2.29B $2.21B $8.85B $2.02B $2.66B
Operating Expense $977.00M $1.04B $3.94B $1.08B $957.00M
Selling and Admin Expenses $513.00M $582.00M $2.22B $630.00M $522.00M
Depreciation & Amortization & Depletion $464.00M $461.00M $1.72B $453.00M $435.00M
-Depreciation & Amortization $464.00M $461.00M $1.72B $453.00M $435.00M
Operating Profit $1.31B $1.16B $4.91B $934.00M $1.70B
Net Non-Operating Interest Income (Expense) -$231.00M -$273.00M -$968.00M -$260.00M -$245.00M
Non-Operating Interest Income $5.00M $5.00M $24.00M $7.00M $3.00M
Non-Operating Interest Expense $236.00M $278.00M $992.00M $267.00M $248.00M
Other Income (Expense) $74.00M $86.00M $431.00M $172.00M $122.00M
Earnings from Equity Interest $67.00M $84.00M $414.00M $101.00M $158.00M
Other Non-Operating Income (Expenses) $7.00M $2.00M $17.00M $71.00M -$36.00M
Pretax Profit $1.15B $976.00M $4.37B $846.00M $1.58B
Tax $14.00M $26.00M $82.00M – –
Net Profit $1.14B $950.00M $4.29B $762.00M $1.58B
Profit from Continuing Operations $1.14B $950.00M $4.29B $764.00M $1.58B
Minority Interests $8.00M $8.00M $23.00M $8.00M $4.00M
Net Income to Parent Company $1.13B $941.00M $4.27B $754.00M $1.58B
Net Income to Common Stockholders $1.13B $941.00M $4.27B $754.00M $1.58B
Basic EPS $4.21 $3.49 $15.75 $2.78 $5.79
Diluted EPS $4.20 $3.48 $15.61 $2.76 $5.74
Dividend Per Share $1.50 $1.50 $3.50 $1.00 $1.00

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $44.64B $41.99B $41.62B $41.62B $40.11B
Total Current Assets $2.43B $2.20B $2.21B $2.21B $1.89B
Cash and Cash Equivalents & Short-Term Investments $875.00M $512.00M $825.00M $825.00M $432.00M
-Cash and Cash Equivalents $875.00M $512.00M $825.00M $825.00M $432.00M
Receivables $441.00M $479.00M $317.00M $317.00M $356.00M
-Accounts Receivable $441.00M $479.00M $317.00M $317.00M $356.00M
Inventory $267.00M $271.00M $264.00M $264.00M $269.00M
Other Current Assets $803.00M $719.00M $690.00M $690.00M $652.00M
Total Non-Current Assets $42.21B $39.79B $39.41B $39.41B $38.22B
Net PPE $38.87B $36.50B $36.32B $36.32B $35.25B
-Gross PPE $38.87B $36.50B $53.29B $53.29B $35.25B
Goodwill and Other Intangible Assets $808.00M $808.00M $808.00M $808.00M $808.00M
-Goodwill $808.00M $808.00M $808.00M $808.00M $808.00M
Other Non-Current Assets $2.53B $2.48B $2.28B $2.28B $2.17B
Total Liabilities $34.18B $31.96B $31.37B $31.37B $29.82B
Total Current Liabilities $11.66B $11.07B $12.06B $12.06B $11.47B
Payables $1.09B $1.01B $953.00M $953.00M $828.00M
-Accounts Payable $1.09B $1.01B $953.00M $953.00M $828.00M
Current Accrued Expenses $2.17B $1.97B $2.03B $2.03B $1.85B
Short-Term Debt and Capital Lease Obligation $1.64B $1.53B $3.27B $3.27B $3.16B
-Current Debt $1.57B $1.45B $3.18B $3.18B $3.07B
-Current Capital Lease Obligation $71.00M $79.00M $90.00M $90.00M $85.00M
Current Deferred Liabilities $6.74B $6.55B $5.74B $5.74B $5.60B
Other Current Liabilities $17.00M $12.00M $67.00M $67.00M $31.00M
Total Non-Current Liabilities $22.53B $20.90B $19.32B $19.32B $18.35B
Long Term Debt and Capital Lease Obligation $21.87B $20.27B $18.77B $18.77B $17.82B
-Long Term Debt $21.26B $19.67B $18.17B $18.17B $17.20B
-Long Term Capital Lease Obligation $611.00M $599.00M $600.00M $600.00M $613.00M
Other Non-Current Liabilities $654.00M $632.00M $554.00M $554.00M $536.00M
Total Equity $10.46B $10.03B $10.25B $10.25B $10.29B
Stockholders' Equity $10.24B $9.81B $10.04B $10.04B $10.09B
Capital Stock $3.00M $3.00M $3.00M $3.00M $3.00M
-Common Stock $3.00M $3.00M $3.00M $3.00M $3.00M
-Preferred Stock $0.00 $0.00 $0.00 $0.00 $0.00
Additional Paid-In Capital $7.90B $7.87B $7.96B $7.96B $7.92B
Retained Earnings $7.19B $6.46B $5.93B $5.93B $5.44B
Less: Treasury Stock $4.33B $4.14B $3.25B $3.25B $2.75B
Gains/Losses Not Affecting Retained Earnings -$516.00M -$385.00M -$604.00M -$604.00M -$528.00M
Minority Interests $225.00M $218.00M $208.00M $208.00M $196.00M
-Accumulated Depreciation – – -$16.98B -$16.98B –

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $1.86B $1.83B $6.47B $1.62B $1.47B
Net cash flow from continuing operations $1.86B $1.83B $6.47B $1.62B $1.47B
Net Income from Continuing Operations $1.14B $950.00M $4.29B $762.00M $1.58B
Gain/Loss from Continuing Operations -$67.00M -$16.00M -$447.00M -$99.00M -$147.00M
Depreciation & Depletion & Amortization $464.00M $461.00M $1.72B $453.00M $436.00M
Deferred Tax -$1.00M -$1.00M $18.00M $3.00M $11.00M
Other Non-Cash Items -$6.00M $85.00M $63.00M $28.00M $46.00M
Change in Working Capital $304.00M $317.00M $383.00M $436.00M -$763.00M
-Change in Receivables $35.00M -$173.00M -$3.00M $31.00M $17.00M
-Change in Inventory $4.00M -$7.00M $0.00 $4.00M -$21.00M
-Change in Prepaid Assets -$108.00M -$25.00M -$100.00M -$58.00M $100.00M
-Change in Payables and Accrued Expense $186.00M -$287.00M $243.00M $324.00M -$84.00M
-Change In Other Working Capital $187.00M $809.00M $243.00M $135.00M -$775.00M
Net cash flow from investing -$2.67B -$529.00M -$5.01B -$1.48B -$2.39B
Net Cash Flow from Continuing Investing Activities -$2.67B -$529.00M -$5.01B -$1.48B -$2.39B
Net PPE Purchase and Sale -$2.74B -$500.00M -$5.23B -$1.51B -$2.46B
Net Business Purchase and Sale -$5.00M -$38.00M -$106.00M -$12.00M -$17.00M
Net Investment Purchase and Sale $77.00M $14.00M $176.00M $44.00M $32.00M
Net Other Investing Changes -$8.00M -$5.00M $147.00M -$4.00M $56.00M
Financing Cash Flow $1.18B -$1.62B -$1.02B $254.00M $615.00M
Net Cash Flow from Continuing Financing Activities $1.18B -$1.62B -$1.02B $254.00M $615.00M
Net Issuance Payments Of Debt $1.80B -$277.00M $1.14B $1.05B $1.30B
Net Common Stock Issuance -$199.00M -$836.00M -$1.16B -$504.00M -$414.00M
Cash Dividends Paid -$404.00M -$270.00M -$824.00M -$272.00M -$204.00M
Net Other Financing Charges -$21.00M -$234.00M -$170.00M -$20.00M -$67.00M
Ending Cash Balance $875.00M $512.00M $825.00M $825.00M $432.00M
Net Change in Cash $363.00M -$312.00M $435.00M $398.00M -$303.00M
Beginning Cash Balance $512.00M $825.00M $388.00M $432.00M $735.00M
Effect of Exchange Rate Changes $0.00 -$1.00M $2.00M -$5.00M $0.00
Free Cash Flow -$877.00M $1.33B $1.24B $116.00M -$989.00M
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