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Investment Highlights Market Valuation Price Chart Return vs. Risk About RCL Interactive Breakdown Better Bets vs. RCL Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Royal Caribbean (RCL)

Market Price (11/2/2025): $287.78 | Market Cap: $78.3 Bil
Sector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Royal Caribbean (RCL)

Market Price (11/2/2025): $287.78
Market Cap: $78.3 Bil
Sector: Consumer Discretionary
Industry: Hotels, Resorts & Cruise Lines

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.7%		  Expensive valuation multiples
P/SPrice/Sales ratio is 4.5x
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%		  Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 53%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 6.3 Bil, FCF LTM is 2.0 Bil		  
3 Low stock price volatility
Vol 12M is 44%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.7%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 6.3 Bil, FCF LTM is 2.0 Bil
3 Low stock price volatility
Vol 12M is 44%
4 Expensive valuation multiples
P/SPrice/Sales ratio is 4.5x
5 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 53%

Market Valuation & Key Metrics

RCLS&P 500
REVENUE GROWTHGOOD
Rev LTM ($ Bil)17.4
Rev Chg Q5.2%6.6%
Rev Chg LTM8.6%5.6%
Rev Chg 3Y Avg37.7%5.3%
PROFITABILITYVERY GOOD
Op Inc LTM ($ Bil)4.6
CFO LTM ($ Bil)6.3
Net Inc LTM ($ Bil)4.1
Op Mgn LTM26.4%18.7%
CFO/Rev LTM36.2%20.3%
Net Inc Mgn23.3%12.8%
VALUATIONMODERATE
P/S4.53.2
P/CFO12.415.1
P/FCF38.520.3
P/E19.223.6
STABILITYFAIR
Debt/Equity0.270.21
Cash/Assets0.010.07

AI Generated Analysis | Feedback

MetricValueDateSource
Load Factor112%10/28/2025Link
Vacations Delivered2.5 million10/28/2025Link

RCL Stock

   
   
   
   
   
   
   

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

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Stock Movement Drivers

Fundamental Drivers

The 25.5% change in RCL stock from 5/3/2025 to 11/1/2025 was primarily driven by a 20.4% change in the company's Net Income Margin (%).
503202511012025Change
Stock Price ($)228.60286.8325.47%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)16756.0017437.004.06%
Net Income Margin (%)19.38%23.32%20.36%
P/E Multiple18.9419.181.29%
Shares Outstanding (Mil)269.00272.00-1.12%
Cumulative Contribution25.46%

LTM = Last Twelve Months as of date shown

Market Drivers

5/3/2025 to 11/1/2025
ReturnCorrelation
RCL25.5% 
Market (SPY)20.7%47.3%
Sector (XLY)19.4%48.0%

Fundamental Drivers

The 43.6% change in RCL stock from 11/1/2024 to 11/1/2025 was primarily driven by a 43.9% change in the company's Net Income Margin (%).
1101202411012025Change
Stock Price ($)199.71286.8343.62%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)16055.0017437.008.61%
Net Income Margin (%)16.21%23.32%43.91%
P/E Multiple20.1919.18-4.97%
Shares Outstanding (Mil)263.00272.00-3.42%
Cumulative Contribution43.45%

LTM = Last Twelve Months as of date shown

Market Drivers

11/1/2024 to 11/1/2025
ReturnCorrelation
RCL43.6% 
Market (SPY)20.6%69.3%
Sector (XLY)20.7%68.7%

Fundamental Drivers

The 485.7% change in RCL stock from 11/2/2022 to 11/1/2025 was primarily driven by a 272.4% change in the company's Total Revenues ($ Mil).
1102202211012025Change
Stock Price ($)48.97286.83485.74%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)4682.5517437.00272.38%
P/S Multiple2.674.4767.80%
Shares Outstanding (Mil)254.96272.00-6.68%
Cumulative Contribution483.12%

LTM = Last Twelve Months as of date shown

Market Drivers

11/2/2023 to 11/1/2025
ReturnCorrelation
RCL229.3% 
Market (SPY)62.0%62.5%
Sector (XLY)54.1%61.2%

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
RCL Return-44%3%-36%162%79%26%120%
Peers Return-13%-4%-35%64%4%-6%-12%
S&P 500 Return16%27%-19%24%23%16%112%

Monthly Win Rates [3]
RCL Win Rate33%50%58%67%67%60% 
Peers Win Rate52%47%38%50%52%52% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
RCL Max Drawdown-83%-14%-59%-1%-11%-23% 
Peers Max Drawdown-62%-26%-44%-5%-35%-39% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CCL, EXPE, H, NCLH, UOKA. See RCL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/31/2025 (YTD)

How Low Can It Go

Unique KeyEventRCLS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-67.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven210.0%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven342 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-83.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven504.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven1463 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-33.7%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven50.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven389 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-88.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven733.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven659 days1480 days

Compare to CCL, EXPE, H, NCLH, UOKA


In The Past

Royal Caribbean's stock fell -67.7% during the 2022 Inflation Shock from a high on 6/2/2021. A -67.7% loss requires a 210.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Royal Caribbean (RCL)

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Better Bets than Royal Caribbean (RCL)

 RCLBetter Performance than RCL
MetricValueIndustry (Hotels, Resorts & Cruise Lines)
Rev Chg LTM8.6%BKNG (13.0%), ABNB (10.2%), VIK (17.7%), MMYT (14.5%), SHCO (9.0%)
Rev Chg 3Y Avg37.7%CCL (45.9%), NCLH (79.0%), LIND (38.0%), YTRA (58.8%)
Op Mgn LTM26.4%BKNG (34.5%), WH (41.3%), CHH (30.2%)
CFO/Rev LTM36.2%ABNB (37.2%), VIK (38.9%), NUTR (297.0%)
FCF/Rev LTM11.7%BKNG (31.9%), ABNB (37.2%), HLT (19.6%), EXPE (14.2%), VIK (13.4%)
Total Yield5.7%CCL (7.0%), NCLH (7.2%), WH (8.3%), MTN (6.6%), CHH (7.2%)
 RCLBetter Performance than RCL
MetricValueAll Other Sectors
Rev Chg LTM8.6%NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AVGO (28.0%), META (21.3%)
Rev Chg 3Y Avg37.7%NVDA (92.0%), NU (70.1%), APO (129.8%), ALNY (51.4%), RDDT (45.3%)
Op Mgn LTM26.4%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AVGO (39.0%)
CFO/Rev LTM36.2%NVDA (46.6%), MSFT (50.0%), GOOGL (39.3%), AVGO (42.4%), META (56.8%)
FCF/Rev LTM11.7%NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AVGO (41.6%)
Total Yield5.7%JPM (6.5%), XOM (9.7%), JNJ (8.2%), BAC (7.4%), UNH (8.2%)
 Best Bets In Consumer Discretionary Sector
 RCLABNB BKNG MCD ETSY LOPE ALSN CROX GRMN YUM WH
What You Pay           
P/E19.229.632.625.433.822.39.919.326.226.916.6
P/EBIT15.429.919.617.614.917.47.316.823.215.79.8
What You Get           
Rev Chg Q5.2%12.7%12.7%5.4%2.4%8.8%-15.9%3.4%11.7%9.6%-3.5%
Rev Chg LTM8.6%10.2%13.0%1.2%2.0%6.5%-4.2%2.0%16.6%11.3%3.4%
Rev Chg 3Y Avg37.7%16.3%17.8%3.4%4.9%5.8%4.6%14.5%12.2%5.9%-2.5%
FCF/Rev 3Y Avg9.3%40.5%35.6%27.2%23.8%22.6%21.0%19.8%20.5%19.0%19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Royal Caribbean Earnings Notes  
2With Royal Caribbean Stock Down 10% In A Month, How Confident Are You?Return 
3Day 5 of Gains Streak for Royal Caribbean Stock with 13% Return (vs. 60% YTD) [8/28/2025]Notification 
4Royal Caribbean Stock Drops 10% In A Week, Time To Buy The Stock?Buy or Fear 
5Royal Caribbean vs Alphabet: Which Is A Better Investment?Counter-Intuitive Comparisons 
6Royal Caribbean vs Green Brick Partners: Which Is A Better Investment?Counter-Intuitive Comparisons 
7RCL or MMYT - With 56% Return Forecast, MMYT Probably Deserves Your MoneyActionable 
8Day 14 of Gains Streak for Royal Caribbean Stock with 30% Return (vs. 49% YTD) [7/10/2025]  
9RCL Dip Buy Analysis  
10Day 13 of Gains Streak for Royal Caribbean Stock with 27% Return (vs. 46% YTD) [7/9/2025]  
11ARTICLES  
12Royal Caribbean Stock Lost 8.5%, Buy Or Wait? October 29th, 2025
13RCL Soars 13% In A Single Week: How Does It Compare With Others? August 29th, 2025
14RCL Stock Up 13% after 5-Day Win Streak August 29th, 2025
15S&P 500 Stocks Trading At 52-Week High August 27th, 2025
16RCL Leaps 6.0% In One Day, Should You Buy The Stock? August 23rd, 2025
Title
0DASHBOARDS
1Royal Caribbean Stock Lost 8.5%, Buy Or Wait?
2RCL Soars 13% In A Single Week: How Does It Compare With Others?
3RCL Stock Up 13% after 5-Day Win Streak
4S&P 500 Stocks Trading At 52-Week High
5RCL Leaps 6.0% In One Day, Should You Buy The Stock?
6ARTICLES
7Royal Caribbean Earnings Notes
8With Royal Caribbean Stock Down 10% In A Month, How Confident Are You?
9Day 5 of Gains Streak for Royal Caribbean Stock with 13% Return (vs. 60% YTD) [8/28/2025]
10Royal Caribbean Stock Drops 10% In A Week, Time To Buy The Stock?
11Royal Caribbean vs Alphabet: Which Is A Better Investment?
12Royal Caribbean vs Green Brick Partners: Which Is A Better Investment?
13RCL or MMYT - With 56% Return Forecast, MMYT Probably Deserves Your Money
14Day 14 of Gains Streak for Royal Caribbean Stock with 30% Return (vs. 49% YTD) [7/10/2025]
15RCL Dip Buy Analysis
16Day 13 of Gains Streak for Royal Caribbean Stock with 27% Return (vs. 46% YTD) [7/9/2025]

Trade Ideas

Select past ideas related to RCL. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
LRN_10312025_Dip_Buyer_ValueBuy10312025LRNStrideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
DECK_10312025_Dip_Buyer_High_CFO_Margins_ExInd_DE10312025DECKDeckers OutdoorDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		0.0%0.0%0.0%
ATGE_10312025_Quality_Momentum_RoomToRun_10%10312025ATGEAdtalem Global EducationQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		0.0%0.0%0.0%
GNTX_10242025_Dip_Buyer_FCFYield10242025GNTXGentexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-0.8%-0.8%-0.8%
LNW_10172025_Dip_Buyer_FCFYield10172025LNWLight & WonderDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-4.5%-4.5%-6.2%
RCL_2292020_Dip_Buyer_ValueBuy02292020RCLRoyal CaribbeanDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-11.9%17.1%-72.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
LRN_10312025_Dip_Buyer_ValueBuy10312025LRNStrideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
DECK_10312025_Dip_Buyer_High_CFO_Margins_ExInd_DE10312025DECKDeckers OutdoorDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		0.0%0.0%0.0%
ATGE_10312025_Quality_Momentum_RoomToRun_10%10312025ATGEAdtalem Global EducationQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		0.0%0.0%0.0%
GNTX_10242025_Dip_Buyer_FCFYield10242025GNTXGentexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-0.8%-0.8%-0.8%
LNW_10172025_Dip_Buyer_FCFYield10172025LNWLight & WonderDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-4.5%-4.5%-6.2%
RCL_2292020_Dip_Buyer_ValueBuy02292020RCLRoyal CaribbeanDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-11.9%17.1%-72.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PUMPProPetro64.5%11.3%
2VTYXVentyx Biosciences46.8%289.5%
3INBXInhibrx Biosciences42.5%430.3%
4RNAAvidity Biosciences42.1%140.2%
5GCIGannett40.6%4.7%
6CSIQCanadian Solar38.4%86.7%
7DYNDyne Therapeutics31.9%-4.2%
8ZBIOZenas BioPharma30.8%281.6%
9IMVTImmunovant30.3%-0.4%
10BBNXBeta Bionics29.9% 

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1LRNStride-55.3%-34.5%
2NTLAIntellia Therapeutics-50.7%8.2%
3FMCFMC-50.2%-67.4%
4FIFiserv-46.7%-67.5%
5VRNSVaronis Systems-43.5%-20.7%
6ATGEAdtalem Global Education-35.9%7.9%
7UAMYUnited States Antimony-32.8%355.9%
8SVVSavers Value Village-31.7%-10.1%
9NWLNewell Brands-31.7%-64.6%
10AKBAAkebia Therapeutics-27.1%16.3%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines260.1%158.3%
2VTYXVentyx Biosciences141.6%289.5%
3INBXInhibrx Biosciences132.9%430.3%
4TMQTrilogy Metals112.9%283.6%
5REPLReplimune109.2%-19.7%
6PUMPProPetro93.3%11.3%
7VICRVicor85.6%87.8%
8DYNDyne Therapeutics79.9%-4.2%
9GLUEMonte Rosa Therapeutics68.4%85.2%
10NVTSNavitas Semiconductor64.2%277.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1LRNStride-53.2%-34.5%
2FMCFMC-51.7%-67.4%
3FIFiserv-47.0%-67.5%
4SOCSable Offshore-46.5%-54.3%
5VRNSVaronis Systems-40.8%-20.7%
6OGNOrganon-38.3%-53.7%
7NTLAIntellia Therapeutics-38.3%8.2%
8VGVenture Global-37.8% 
9ITGRInteger-37.4%-51.3%
10NWLNewell Brands-34.7%-64.6%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PUMPProPetro64.5%11.3%
2VTYXVentyx Biosciences46.8%289.5%
3INBXInhibrx Biosciences42.5%430.3%
4RNAAvidity Biosciences42.1%140.2%
5GCIGannett40.6%4.7%
6CSIQCanadian Solar38.4%86.7%
7DYNDyne Therapeutics31.9%-4.2%
8ZBIOZenas BioPharma30.8%281.6%
9IMVTImmunovant30.3%-0.4%
10BBNXBeta Bionics29.9% 

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1LRNStride-55.3%-34.5%
2NTLAIntellia Therapeutics-50.7%8.2%
3FMCFMC-50.2%-67.4%
4FIFiserv-46.7%-67.5%
5VRNSVaronis Systems-43.5%-20.7%
6ATGEAdtalem Global Education-35.9%7.9%
7UAMYUnited States Antimony-32.8%355.9%
8SVVSavers Value Village-31.7%-10.1%
9NWLNewell Brands-31.7%-64.6%
10AKBAAkebia Therapeutics-27.1%16.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Royal Caribbean

Financials

RCLCCLEXPEHNCLHUOKAMedian
NameRoyal Ca.Carnival Expedia Hyatt Ho.Norwegia.MDJM  
Mkt Price286.8328.83220.00137.4122.422.9883.12
Mkt Cap78.037.927.813.110.0-27.8
Rev LTM17,43726,22914,0186,7579,561-14,018
Op Inc LTM4,6054,3091,7034391,531-1,703
FCF LTM2,0352,9141,997132-504-1,997
FCF 3Y Avg1,3691,1972,108420-503-1,197
CFO LTM6,3095,6112,7783001,966-2,778
CFO 3Y Avg5,0534,9292,8906031,923-2,890

Growth & Margins

RCLCCLEXPEHNCLHUOKAMedian
NameRoyal Ca.Carnival Expedia Hyatt Ho.Norwegia.MDJM  
Rev Chg LTM8.6%7.1%5.7%0.9%5.2%-5.7%
Rev Chg 3Y Avg37.7%45.9%9.6%14.2%79.0%-37.7%
Rev Chg Q5.2%3.3%6.4%6.2%6.1%-6.1%
QoQ Delta Rev Chg LTM1.5%1.0%1.7%1.6%1.5%-1.5%
Op Mgn LTM26.4%16.4%12.1%6.5%16.0%-16.0%
Op Mgn 3Y Avg23.1%10.8%11.6%6.1%8.9%-10.8%
QoQ Delta Op Mgn LTM0.0%0.2%0.1%-0.8%0.6%-0.1%
CFO/Rev LTM36.2%21.4%19.8%4.4%20.6%-20.6%
CFO/Rev 3Y Avg32.2%20.6%22.1%9.1%22.6%-22.1%
FCF/Rev LTM11.7%11.1%14.2%2.0%-5.3%-11.1%
FCF/Rev 3Y Avg9.3%4.5%16.1%6.3%-6.0%-6.3%

Valuation

RCLCCLEXPEHNCLHUOKAMedian
NameRoyal Ca.Carnival Expedia Hyatt Ho.Norwegia.MDJM  
Mkt Cap78.037.927.813.110.0-27.8
P/S4.51.42.01.91.0-1.9
P/EBIT15.49.216.814.77.2-14.7
P/E19.214.325.030.413.9-19.2
P/CFO12.46.710.043.85.1-10.0
Total Yield5.7%7.0%4.4%3.7%7.2%-5.7%
Dividend Yield0.4%0.0%0.4%0.4%0.0%-0.4%
FCF Yield 3Y Avg4.0%3.6%11.9%3.1%-5.7%-3.6%
D/E0.30.70.20.51.4-0.5
Net D/E0.30.7-0.00.41.4-0.4

Returns

RCLCCLEXPEHNCLHUOKAMedian
NameRoyal Ca.Carnival Expedia Hyatt Ho.Norwegia.MDJM  
1M Rtn-10.4%-0.1%1.1%-5.5%-8.8%4.6%-2.8%
3M Rtn-8.4%-0.8%23.8%0.0%-8.5%19.7%-0.4%
6M Rtn25.5%47.3%36.6%12.0%29.1%-3.2%27.3%
12M Rtn43.6%31.6%38.9%-4.9%-9.9%-46.4%13.4%
3Y Rtn485.7%231.8%145.1%51.1%37.1%-92.5%98.1%
1M Excs Rtn-12.3%-1.9%-0.8%-7.4%-10.6%2.7%-4.6%
3M Excs Rtn-16.9%-11.1%11.1%-8.5%-19.6%6.6%-9.8%
6M Excs Rtn5.2%27.0%16.3%-8.3%8.8%-23.5%7.0%
12M Excs Rtn20.9%13.2%22.1%-29.1%-24.3%-97.5%-5.5%
3Y Excs Rtn395.2%154.0%50.2%-23.2%-37.6%-171.2%13.5%

Comparison Analyses

Title
0Royal Caribbean vs. Synopsys: With Return Forecast Of 43%, Royal Caribbean Is A Better Bet
1Royal Caribbean vs. Zoetis: With Return Forecast Of 43%, Royal Caribbean Is A Better Bet
2Royal Caribbean vs. CVS Health: With Return Forecast Of 43%, Royal Caribbean Is A Better Bet
3Royal Caribbean vs. Hyatt Hotels: With Return Forecast Of 42%, Royal Caribbean Is A Better Bet
4Royal Caribbean vs. Norwegian Cruise Line: With Return Forecast Of 42%, Royal Caribbean Is A Better Bet
5Royal Caribbean vs. Expedia: With Return Forecast Of 42%-43%, Both Seem Like Good Bets
6Royal Caribbean vs. Carnival: With Return Forecast Of 38%-42%, Both Seem Like Good Bets
7Royal Caribbean vs. Intuit: With Return Forecast Of 40%-42%, Both Seem Like Good Bets
8Royal Caribbean vs. Stryker: With Return Forecast Of 42%, Royal Caribbean Is A Better Bet
9Royal Caribbean vs. Carnival: With Return Forecast Of 38%-42%, Both Seem Like Good Bets

Financials

$ Mil | FY: 12/312025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q4
Period End9/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/2022
Filing Date10/28/20257/29/20254/29/20252/14/202510/29/20247/25/20244/25/20242/21/202410/26/20237/27/20235/4/20232/23/2023
Key Financials Quarterly            
Total Revenue5,1394,5383,9993,7614,8864,1103,7283,3314,1603,5232,8862,603
Ebitda2,2631,8601,3981,2362,1281,5491,1759941,7171,180672292
Operating Income1,7021,3309476261,6341,0997505701,26577127213
Net Income1,5751,2107305521,1118543602771,009459-48-500
EPS5.794.452.712.064.223.321.401.093.941.79-0.19-1.96
Key Financials TTM            
Total Revenue TTM17,43717,18416,75616,48516,05515,32914,74213,90013,17212,00610,6678,840
Ebitda TTM6,7576,6226,3116,0885,8465,4355,0664,5633,8612,8841,837615
Operating Income TTM4,6054,5374,3064,1094,0533,6843,3562,8782,3211,355365-766
Net Income TTM4,0673,6033,2472,8772,6022,5002,1051,697920-56-1,037-2,156
Growth Rates Quarterly            
Total Revenue Growth5.2%10.4%7.3%12.9%17.5%16.7%29.2%27.9%39.0%61.3%172.5%165.1%
EBITDA Growth6.3%20.1%19.0%24.3%23.9%31.3%74.9%240.3%132.0%789.5%222.2%139.5%
Operating Income Growth4.2%21.0%26.3%9.8%29.2%42.5%175.7%4145.2%323.9%452.6%131.7%101.3%
Net Income Growth41.8%41.7%102.8%99.3%10.1%86.1%850.0%155.4%2960.5%188.0%95.9%63.1%
Margins Quarterly            
EBITDA Margin44.0%41.0%35.0%32.9%43.6%37.7%31.5%29.8%41.3%33.5%23.3%11.2%
Operating Income Margin33.1%29.3%23.7%16.6%33.4%26.7%20.1%17.1%30.4%21.9%9.4%0.5%
Net Income Margin30.6%26.7%18.3%14.7%22.7%20.8%9.7%8.3%24.3%13.0%-1.7%-19.2%
Cash & Debt            
Total Cash4327353863884183914374976007261,2271,935
Total Debt20,97519,73720,11920,82021,55621,77221,18522,13020,56721,01822,04823,994
Net Debt / (Cash)20,54319,00219,73320,43221,13821,38120,74821,63319,96720,29220,82122,059
Cash Flows Quarterly            
FCF from Operations1,4691,7461,6271,4678971,5731,3281,1166591,3921,310576
Cash Flows TTM            
FCF from Operations TTM6,3095,7375,5645,2654,9144,6764,4954,4773,9373,2332,320481
Returns to Shareholders Quarterly            
Dividends20420014810700000000
Share Repurchases414-0241-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC30.3%24.5%17.0%10.7%27.4%18.2%12.8%9.4%22.4%13.5%4.7%0.2%
Return on Invested Capital (ROIC) TTM            
ROIC TTM20.5%20.9%19.4%17.6%17.0%15.3%14.3%11.8%10.3%5.9%1.6%-3.1%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Single Segment13,9008,8401,5322,20910,951
Total13,9008,8401,5322,20910,951


Price Behavior

RCL Betas & Captures as of 10/31/2025

 1M2M3M6M1Y3Y
Beta0.200.530.821.471.541.49
Up Beta2.712.492.492.031.651.59
Down Beta0.650.140.471.081.461.44
Up Capture-142%-74%6%139%215%597%
Bmk +ve Days14273774145425
Stock +ve Days11203371136411
Down Capture-15%132%86%123%124%105%
Bmk -ve Days9172853106327
Stock -ve Days12243256115340

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity10,558,228
Short Interest: % Change Since 9302025-3.4%
Average Daily Volume1,506,702
Days-to-Cover Short Interest7.01
Basic Shares Quantity272,000,000
Short % of Basic Shares3.9%

Returns Analyses

SEC Filings

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Report DateFiling DateFiling
93020251028202510-Q 9/30/2025
6302025729202510-Q 6/30/2025
3312025429202510-Q 3/31/2025
12312024214202510-K 12/31/2024
93020241029202410-Q 9/30/2024
6302024725202410-Q 6/30/2024
3312024425202410-Q 3/31/2024
12312023221202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023727202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022223202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022729202210-Q 6/30/2022
3312022505202210-Q 3/31/2022
12312021301202210-K 12/31/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Sorensen Vagn O 8202025Sell330.0410,3003,399,4125,414,966Form
1Fain Richard D 8082025Sell310.656,9852,169,89049,488,409Form
2Lake Robert AlexanderSVP, CLO, Secretary & CCO6092025Sell275.002,500687,5006,585,150Form
3Fain Richard D 5202025Sell252.9615,7733,989,93842,812,974Form
4Montiel Maritza Gomez 5132025Sell242.491,500363,7353,507,375Form

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