Royal Caribbean is the world's second-largest cruise company by revenues, operating 71 ships across five global and partner brands in the cruise vacation industry. Brands the company operates include Royal Caribbean International, Celebrity Cruises, and Silversea.
It is a $75.5B consumer company. Revenue grew 8.7% over the last year, it keeps 24¢ of every dollar of sales as profit, and it carries $20.5B of net debt. It trades at 17.2× earnings — in the cheapest third of its own history.
- Website
- royalcaribbeangroup.com
- Location
- Miami, FL
- Employees
- 108 000
- Sector
- Consumer Cyclical
- Founded
- 1968
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability; Health, Quality and Moat lag behind.
Valuation65
- P/E vs own history14th pct · 25/25
- FCF yield-0.6% · 0/25
- P/S4.0x · 20/25
- EV/EBITDA14.2x · 20/25
Growth50
- Revenue CAGR85.0% · 25/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth43.2% · 25/25
Profitability87
- ROIC14.0% · 12/25
- ROE43.8% · 25/25
- Net margin23.5% · 25/25
- Operating margin27.1% · 25/25
Health33
- Altman Z1.71 · 10/25
- Current ratio0.21 · 0/25
- Interest coverage9.1x · 18/25
- Net cash / debtD/A 49% · 5/25
Quality42
- Piotroski F7/9 · 22/25
- Beneish M-2.48 · 20/25
- FCF conversion-9% · 0/25
- Margin stabilityσ 418.0% · 0/25
Moat30
- ROIC >12% years1/10 yrs · 0/25
- Median gross margin44.1% · 20/25
- FCF-positive years6/10 yrs · 10/25
- Worst-year net marginworst -343.3% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$4.27B net income
- 2021MilestoneRoyal Caribbean International's Ovation of the Seas became the first cruise ship to return to the…
- FY2019FinancialRevenue crossed $10B$11.0B for the year
- FY2016FinancialFirst recorded profitable year$1.28B net income
- FY2016FinancialRevenue already above $1B$8.50B in first reported year
- 2009ProductThe larger Oasis class, featuring Oasis of the Seas and Allure of the Seas, launched in 2009 and 2010
- 1997AcquisitionIt merged with the Greek cruise line Celebrity Cruises and changed its name from Royal Caribbean Cruise…
- 1993IPORoyal Caribbean went public on the New York Stock Exchange in 1993
- 1990AcquisitionTwo years later in 1990, Nordic Empress and Viking Serenade entered service and Royal Caribbean purchased a second…
- 1988ProductThe line launched Sovereign of the Seas, the largest passenger vessel…
- 1986MilestoneRoyal Caribbean leased a coastal property in Labadie, Haiti, to be used as a private destination for its…
- 1982ProductRoyal Caribbean launched Song of America
- 1978MilestoneSong of Norway became Royal Caribbean's first passenger ship to be lengthened
- 1968FoundedRoyal Caribbean Cruise Line was founded in 1968 by three Norwegian shipping companies: Anders Wilhelmsen & Company, I.M
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (49.6%)
- Strongly profitable — 23.5% net margin
- Interest covered 9.1× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
- Negative free cash flow (-$416.0M)
- Altman Z-Score 1.71 — elevated financial-distress risk
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+8.7% YoY
- Profitable — makes more than it spends$4.40B TTM
- Profit growing — earnings are higher than last year+48.3% YoY
- Generates cash — cash left after running and investing-$416M TTM
- Debt under control — could handle its obligationscurrent ratio 0.21
- Established company — not a micro-cap — lower blow-up risk$75.5B market cap
- Not printing shares — share count not ballooning — you keep your slice+27.6% shares over ~5y
- Proven track record — years of profitability behind it7/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.7 — distress
- Pays a dividend — returns cash to shareholdersyield 1.52%
- Valuation not extreme — price not wildly above earningsP/E 17.2
Peer comparisonRoyal Caribbean Group vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| RCL this company | $75.5B | 17.2 | +8.7% | 23.5% | Strained |
| AMZN Amazon.Com Inc | $2.8T | 20.9 | +15.8% | 17.4% | Mixed |
| TSLA Tesla, Inc. | $1.5T | 397.1 | +11.8% | 3.7% | Strong |
| NFLX NetFlix Inc | $292.8B | 21.4 | +16.0% | 28.2% | Solid |
| HD Home Depot, Inc. | $290.4B | 20.4 | -16.0% | 8.7% | Solid |
| DIS The Walt Disney Company | $186.5B | 21.7 | +4.6% | 8.7% | Solid |
| MCD McDonald's Corporation | $166.9B | 18.9 | +6.3% | 31.7% | Strained |
Head-to-head: RCL vs AMZN · RCL vs TSLA · RCL vs NFLX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/RCL
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of RCL on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $282.18 · market cap $75.5B.