Royal Caribbean Cruises Ltd. (RCL) Stock

Royal Caribbean Cruises Ltd. (RCL) is a Industrials stock trading at $293.08 (as of 2026-08-24), with a market capitalization of $78.38B and a trailing P/E of 17.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships. The company was founded in 1968 and is headquartered in Miami, Florida.

Understand Royal Caribbean Cruises Ltd.: how it makes money

Royal Caribbean Cruises operates cruise ships under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea brands, making money from passenger ticket revenue and onboard and other revenue tied to its itineraries.

Profitability is driven by how much revenue the company can generate per sailing from paying passengers (passenger ticket revenue) plus passenger spending onboard (onboard and other revenue).

Revenue by segment (latest quarter)
Tickets$2.6B
Onboard$1.2B
Other$0.7B

Business quality (Solid): Revenue streams are clearly separated into ticket versus onboard and other, but the provided data does not include operational demand metrics like occupancy or capacity utilization.

Valuation: At 19× earnings, RCL trades 10% above the Transportation average (18×). Note: one-time items can distort reported P/E.

Bull case

  • Revenue model has two monetization streams, passenger ticket revenue and onboard and other revenue, which can diversify earnings within the same cruise experience: Onboard and other revenue is a distinct line item (1.16B), indicating incremental revenue beyond the ticket.
  • Multi-brand portfolio can broaden customer appeal across itineraries: The company operates cruises under Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea brands.

Bear case

  • Earnings may be sensitive to weaker passenger demand, since passenger ticket revenue is a large part of total revenue: Passenger ticket revenue is 2.6B versus onboard and other revenue of 1.16B for the same period.
  • If onboard spending softens, it may pressure total revenue even if ticket revenue holds: Onboard and other revenue is a separate revenue component (1.16B), implying it can move differently than tickets.
Valuation — source: SEC EDGAR (first-party)
Price$293.08
Market Cap$78.38B
P/E Ratio17.8
EV / EBITDA11.4
Price / Book7.49
Price / Sales4.20
FCF Yield-0.5%
DCF Value (model)$463.77
DCF Upside vs Price58.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$17.93B
Net Margin23.8%
Revenue Growth (YoY)6.5%
EPS Growth (YoY)-5.4%
FCF Growth (YoY)-196.4%
Financial Health — source: SEC EDGAR
Altman Z-Score2.25 (grey)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E17.8
Sector P/E (Industrials)26.0
Industry P/E (Transportation)17.0
vs Sector-31.4%
vs Industry4.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($8.44B)
Institutional Holders Tracked10
Congressional Trades (recent)7
Company
SectorIndustrials
IndustryTransportation
CEOJason T. Liberty
Employees105,950
CountryUS
IPO Date1993-04-28

Related Companies (Transportation; 8 comparable transport companies)

  • Carnival Corporation & plc (CCL)
  • Norwegian Cruise Line Holdings Ltd. (NCLH)
  • Kirby Corporation (KEX)
  • Matson, Inc. (MATX)
  • Tidewater Inc. (TDW)
  • International Seaways, Inc. (INSW)
  • C.H. Robinson Worldwide, Inc. (CHRW)
  • Expedia Group, Inc. (EXPE)
RCL earnings history · RCL institutional & insider holders · RCL KPIs & operating metrics · RCL financials · RCL investor presentations & press releases · RCL SEC filings · RCL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.