Royal Caribbean Cruises (RCL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Royal Caribbean Cruises

NYSE•Consumer Cyclical•Travel Services

$313.17-7.90(-0.02%)After hours

Market Cap

$85.73B

P/E

18.8x

P/S

4.5x

P/B

7.3x

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.

How this company scores

GoodMetricSide Score: 66/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (10/25).

Profitability25/25

Growth19/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality10/25

Strengths

Strong marginsHigh ROEProfit converts from growthConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 18.8x5y range 15.8x – 25.7x

Currently near its 13-quarter median.

P/S · 4.5x5y range 1.4x – 12.9x

Currently above its 20-quarter median.

P/B · 7.3x5y range 2.7x – 9.3x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $85.73B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $19.13B
Q. Revenue: $5.59B
TTM EBITDA: $5.27B
TTM Op. Income: $5.27B
Q. Op. Income: $1.87B
TTM Net Income: $4.55B
Q. Net Income: $1.73B
EPS: $6.46
Shares Out.: $267.00M

$19.13B in TTM revenue grew 9.7% YoY, reaching $5.59B last quarter. TTM EBITDA of $5.27B and TTM operating income of $5.27B show growth is flowing through to the bottom line. TTM net income of $4.55B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 51.5%
EBITDA Margin: 33.5%
Op. Margin: 33.5%
Net Margin: 30.9%

Op. margin of 33.5% is up 0.3% YoY — cost efficiency is improving. Net margin at 30.9% and gross margin of 51.5% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 18.8x
P/S Ratio: 4.5x
P/B Ratio: 7.3x

At 18.8x P/E, the stock trades within typical market levels. P/S of 4.5x and P/B of 7.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 14% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $44.81B
Cash: $851.00M
Long-Term Debt: $20.12B
Book Value: $11.71B
D/E Ratio: 1.7
Debt/EBITDA: 10.8

With $44.81B in assets and $20.12B in long-term debt, D/E is 1.7and book value is $11.71B — moderate leverage. Over the past year, debt/equity is up 1% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.58B
TTM Free Cash Flow: $1.51B
FCF Margin: 7.9%
FCF / Net Income: 0.3

TTM FCF of $1.51B on $1.58B in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 26% — an improving trend.