Royal Caribbean (RCL) stock
Consumer Discretionary · Hotels, Resorts & Cruise Lines
Royal Caribbean (RCL) is a Hotels, Resorts & Cruise Lines company in the Consumer Discretionary sector, headquartered in Miami, Florida. As of October 23, 2026, RCL closed at $276.48, a market capitalization of $73.95 billion, the 173rd largest company in the S&P 500. Over the last twelve months it generated $18.68 billion in revenue (+6% year over year) and -$416.00 million in free cash flow. The stock trades at 17.1x trailing earnings and 13.6x forward earnings.
- 1-year total return: -11.0% (dividends reinvested)
- 5-year return: +27.6% a year
- 52-week range: $222.22 – $356.39
- Gross margin 50.3%, operating margin 27.1%
- Dividend yield: 2.17%, 1 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 13th largest of 47 Consumer Discretionary stocks in the S&P 500
RCL price chart
1Y price change: -12.7% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| RCL | +20.1% | +0.8% | -11.0% | +52.1% | +27.6% | +16.2% | +12.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1993.
RCL key statistics
- Market cap
- $73.9B
- #173 in S&P 500
- P/E (TTM)
- 17.1x
- Forward P/E
- 13.6x
- EPS (TTM)
- $16.20
- Revenue (TTM)
- $18.7B
- +7%
- Free cash flow
- -$416.0M
- Gross margin
- 50.3%
- Operating margin
- 27.1%
- Return on equity
- 44.7%
- Dividend yield
- 2.17%
- 52-week range
- $222.22 – $356.39
- Beta
- 1.82
- Price / sales
- 4.0x
- EV / EBITDA
- 14.0x
- Debt / equity
- 2.25x
- Employees
- 107,950
RCL report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth6.5%C
- Gross margin50.3%B
- Operating margin27.1%B
- FCF margin-2.2%F
- Return on equity44.7%A
- Net debt / EBITDA3.3xD
- Forward P/E13.6xA
- PEG ratio0.9xA
- Shareholder yield3.7%B
- Share count change / yr5.0%F
Royal Caribbean Cruises financials
Revenue went from $8.5B in fiscal 2016 to $17.9B in fiscal 2025, growing 8.7% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.5B | $8.8B | $9.5B | $11.0B | $2.2B | $1.5B | $8.8B | $13.9B | $16.5B | $17.9B |
| Gross profit | $3.5B | $3.9B | $4.2B | $4.9B | -$556.3M | -$1.2B | $2.2B | $6.1B | $7.8B | $8.9B |
| Operating income | $1.5B | $1.7B | $1.9B | $2.1B | -$4.6B | -$3.9B | -$766.0M | $2.9B | $4.1B | $4.9B |
| Net income | $1.3B | $1.6B | $1.8B | $1.9B | -$5.8B | -$5.3B | -$2.2B | $1.7B | $2.9B | $4.3B |
| EPS (diluted) | $5.93 | $7.53 | $8.56 | $8.95 | $-27.05 | $-20.89 | $-8.45 | $6.31 | $10.94 | $15.61 |
| Free cash flow | $22.3M | $2.3B | -$180.9M | $691.7M | -$5.7B | -$4.1B | -$2.2B | $580.0M | $2.0B | $1.2B |
| Buybacks | $300.0M | $225.0M | $575.0M | $99.6M | $0 | $0 | — | $0 | $0 | $1.2B |
| Dividends paid | $346.5M | $437.5M | $527.5M | $602.7M | $326.4M | $0 | $0 | $0 | $107.0M | $824.0M |
| Diluted shares | 216.3M | 215.7M | 211.6M | 209.9M | 214.3M | 252.0M | 255.0M | 283.0M | 279.0M | 274.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into RCL?
A reverse DCF asks what growth the current price requires. With an enterprise value of $96.6B and -$416.0M of trailing free cash flow, Royal Caribbean Cruises needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 17.7x vs. median 20.1x (10th–90th percentile 8.7x–48.1x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
RCL dividend
- Dividend yield
- 2.17%
- Annual dividend
- $6.00
- Years of increases
- 1
- 5-yr dividend growth
- 10.1%
- per year
- Payout ratio
- 31%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
RCL analyst price targets
27 analysts' average 12-month target is $350.11 (+27% vs. $276.48). Targets range from $262.00 to $425.00. 79% rate it a buy.
RCL earnings
Next report: October 27, 2026. Royal Caribbean Cruises has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $4.8B (+6% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 28, 2026 | $3.98 | $4.21 | +5.7% |
| Apr 30, 2026 | $3.20 | $3.60 | +12.6% |
| Jan 29, 2026 | $2.80 | $2.80 | +0.1% |
| Oct 28, 2025 | $5.68 | $5.75 | +1.2% |
| Jul 29, 2025 | $4.08 | $4.38 | +7.3% |
| Apr 29, 2025 | $2.53 | $2.71 | +7.0% |
| Jan 28, 2025 | $1.50 | $1.63 | +9.0% |
| Oct 29, 2024 | $5.03 | $5.20 | +3.3% |
Stocks like RCL
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 BKNG Booking Holdings Inc. Common St | -3.27% | -23% | $117.1B | 17.3x | Compare |
 ABNB Airbnb | -2.13% | +35% | $103.0B | 39.2x | Compare |
 MAR Marriott International | -1.53% | +46% | $101.9B | 40.4x | Compare |
 HLT Hilton Worldwide | -2.36% | +31% | $78.7B | 51.3x | Compare |
 CCL Carnival | -3.58% | -10% | $35.1B | 11.5x | Compare |
 EXPE Expedia | -3.18% | +35% | $34.7B | 18.1x | Compare |
 NCLH Norwegian Cruise Line | -2.83% | -36% | $6.9B | 9.3x | Compare |
 AMZN Amazon.com | -0.95% | +12% | $2.7T | 20.0x | Compare |
RCL news
- Debt Anchor vs. Cruise Demand: Can Royal Caribbean’s Q3 Print Oct. 27 Match Its Premium Valuation · Oct 24, 2026
- Royal Caribbean Cruises (RCL) Dropped, But What Is Driving Attention Now? · Oct 24, 2026
- Royal Caribbean (RCL) Suffers a Larger Drop Than the General Market: Key Insights · Oct 23, 2026
- Cruise Stocks Fall as Oil Price Hits Five-Month High: Norwegian Sinks 6%, Royal Caribbean and Carnival Drop 4% · Oct 23, 2026
- Royal Caribbean Gears Up to Report Q3 Earnings: What's in Store? · Oct 22, 2026
RCL stock FAQ
What is RCL's market cap?
Royal Caribbean's market capitalization is $73.95 billion as of October 23, 2026, ranking 173rd in the S&P 500.
What is RCL's P/E ratio?
RCL trades at a trailing price-to-earnings ratio of 17.1x and a forward P/E of 13.6x. Its median P/E over the period we track is 20.1x.
Does RCL pay a dividend?
Yes. Royal Caribbean pays $6.00 per share a year, a 2.17% yield. It has raised its dividend 1 years in a row. Dividends grew 10.1% a year over the last five years.
How much has RCL stock returned?
Including reinvested dividends, RCL returned -11.0% over one year, +27.6% a year over five years, +16.2% a year over ten years through October 23, 2026.
What is the RCL price target?
27 analysts cover RCL with an average 12-month price target of $350.11, +27% from the current price. 79% of them rate it a buy.
When does RCL report earnings?
Royal Caribbean is expected to report earnings on October 27, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Royal Caribbean have?
Royal Caribbean has about 107,950 full-time employees, or $173,062 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology