RCL (Royal Caribbean Cruises Ltd.) Stock Financials & Earnings | Market Cap Arena

RCL (Royal Caribbean Cruises Ltd.) Stock Financials & Earnings | Market Cap Arena

RCLRoyal Caribbean Cruises Ltd.

Mkt Cap$79B

Consumer Cyclical·Travel Services·🇺🇸 United States·NYSE

Revenue (TTM)$17.9B

Net Income (TTM)$4.3B

EPS (TTM)$15.61

Free Cash Flow (TTM)$1.2B

Gross Margin46.8%

Op. Margin27.4%

Net Margin23.8%

FCF Margin6.9%

P/S Ratio (TTM)4.4x

P/E Ratio (TTM)18.4x

YoY Rev Growth+8.8%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$2.9B	$1.1B	$272M
Q2 23	$3.5B	$1.6B	$771M
Q3 23	$4.2B	$2.0B	$1.3B
Q4 23	$3.3B	$1.4B	$570M
Q1 24	$3.7B	$1.7B	$750M
Q2 24	$4.1B	$2.0B	$1.1B
Q3 24	$4.9B	$2.5B	$1.6B
Q4 24	$3.8B	$1.7B	$624M
Q1 25	$4.0B	$1.9B	$945M
Q2 25	$4.5B	$2.3B	$1.3B
Q3 25	$5.1B	$2.7B	$1.7B
Q4 25	$4.3B	$1.6B	$933M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	7.4x	—
Q2 23	6.5x	—
Q3 23	6.0x	85.4x
Q4 23	5.6x	46.3x
Q1 24	5.3x	37.3x
Q2 24	5.1x	31.4x
Q3 24	4.9x	30.2x
Q4 24	4.8x	27.3x
Q1 25	4.7x	24.2x
Q2 25	4.6x	21.8x
Q3 25	4.5x	19.3x
Q4 25	4.4x	18.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.3B	$1.1B
Q2 23	$1.4B	$596M
Q3 23	$659M	$378M
Q4 23	$1.1B	-$1.5B
Q1 24	$1.3B	$1.1B
Q2 24	$1.6B	-$567M
Q3 24	$897M	$563M
Q4 24	$1.5B	$915M
Q1 25	$1.6B	$1.2B
Q2 25	$1.7B	$910M
Q3 25	$1.5B	-$989M
Q4 25	$1.6B	$116M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$252M
Q2 23	$796M
Q3 23	$281M
Q4 23	$2.6B
Q1 24	$242M
Q2 24	$2.1B
Q3 24	$334M
Q4 24	$552M
Q1 25	$428M
Q2 25	$836M
Q3 25	$2.5B
Q4 25	$1.5B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+172.5%	+36.3%
Q2 23	+61.3%	+14.5%
Q3 23	+39.0%	+7.4%
Q4 23	+27.9%	+6.7%
Q1 24	+29.2%	+13.9%
Q2 24	+16.7%	+9.4%
Q3 24	+17.5%	+12.3%
Q4 24	+12.9%	+13.6%
Q1 25	+7.3%	+2.6%
Q2 25	+10.4%	+6.6%
Q3 25	+5.2%	+5.7%
Q4 25	+13.2%	+6.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$26M	0.9%
Q2 23	$40M	1.1%
Q3 23	$13M	0.3%
Q4 23	$47M	1.4%
Q1 24	$45M	1.2%
Q2 24	$38M	0.9%
Q3 24	$26M	0.5%
Q4 24	$158M	4.2%
Q1 25	$53M	1.3%
Q2 25	$39M	0.9%
Q3 25	$44M	0.9%
Q4 25	$39M	0.9%

OpEx Breakdown

Quarter	SG&A
Q1 23	$461M
Q2 23	$435M
Q3 23	$393M
Q4 23	$503M
Q1 24	$535M
Q2 24	$466M
Q3 24	$451M
Q4 24	$673M
Q1 25	$562M
Q2 25	$508M
Q3 25	$522M
Q4 25	$630M

Revenue Segments

Quarter	Cruise Itinerary	Other Products And Services
Q1 23	$2.7B	$143M
Q2 23	$3.4B	$149M
Q3 23	$4.0B	$210M
Q4 23	$3.2B	$166M
Q1 24	$3.5B	$189M
Q2 24	$3.9B	$181M
Q3 24	$4.6B	$249M
Q4 24	$3.6B	$169M
Q1 25	$3.8B	$203M
Q2 25	$4.3B	$217M
Q3 25	$4.9B	$266M
Q4 25	$4.1B	$178M

Revenue by Geography

Quarter	Asia Pacific	Europe	North America	Other Region
Q1 23	$333M	$2M	$2.2B	$214M
Q2 23	$169M	$841M	$2.1B	$227M
Q4 23	$372M	$467M	$2.1B	$224M
Q2 24	$235M	$841M	$2.6B	$278M
Q4 24	$483M	$400M	$2.5B	$241M
Q2 25	$326M	$943M	$2.8B	$210M
Q4 25	$554M	$488M	$2.8B	$223M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$1.2B	$0	$1.2B
Q2 23	$726M	$0	$726M
Q3 23	$600M	$0	$600M
Q4 23	$497M	$0	$497M
Q1 24	$437M	$0	$437M
Q2 24	$391M	$0	$391M
Q3 24	$418M	$0	$418M
Q4 24	$388M	$0	$388M
Q1 25	$386M	$0	$386M
Q2 25	$735M	$0	$735M
Q3 25	$432M	$209M	$641M
Q4 25	$825M	$115M	$940M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	255M	-0.1%
Q2 23	282M	+10.6%
Q3 23	282M	+0.0%
Q4 23	280M	-0.7%
Q1 24	281M	+0.4%
Q2 24	281M	+0.0%
Q3 24	264M	-6.0%
Q4 24	277M	+4.9%
Q1 25	276M	-0.4%
Q2 25	275M	-0.4%
Q3 25	274M	-0.4%
Q4 25	273M	-0.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$126K	64K
FY 15	$126K	66K
FY 16	$129K	66K
FY 17	$133K	66K
FY 18	$123K	77K
FY 19	$128K	85K
FY 20	$26K	85K
FY 21	$18K	85K
FY 22	$86K	103K
FY 23	$142K	98K
FY 24	$156K	106K
FY 25	$166K	108K