Royal Caribbean Group (RCL): financials, SEC filings and peers
Royal Caribbean Group (RCL) is a hotels, resorts & cruise lines company in the Consumer Discretionary sector of the S&P 500, headquartered in Miami, Florida.
It was founded in 1997 and joined the S&P 500 on December 5, 2014.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Water Transportation”.
Royal Caribbean Group at a glance
- Revenue (12 months)
- $19.1B
- Revenue growth
- +9.7%
- Operating margin
- 27.6%
- Net income (12 months)
- $4.6B
- Free cash flow (12 months)
- $1.5B
- Cash
- $851M
- Debt
- $22.9B
- Diluted EPS (12 months)
- $16.91
Twelve months to September 30, 2026, from the 10-Q filed October 27, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Royal Caribbean Group reported revenue of $19.1 billion, up 9.7% from a year earlier.
Its operating margin was 27.6%, up 1.2 percentage points from a year earlier: for every $100 of sales, about $28 was left as operating profit.
Net income was $4.6 billion (23.8% of revenue), 11.9% higher than a year earlier.
Operating cash flow was $6.9 billion and capital spending $5.4 billion, leaving free cash flow of $1.5 billion (7.9% of revenue). Capital spending equal to 28% of revenue is high; the company is investing heavily.
At the end of the period it held $851 million in cash and $22.9 billion in debt, a net debt position of $22.0 billion.
The diluted share count fell 2.2% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $2.2 billion in fiscal 2020 to $17.9 billion in fiscal 2025, about 52.0% a year.
- Revenue has grown for 4 fiscal years in a row.
- Operating margin widened from -208.3% to 27.4% over the same years.
- Free cash flow was negative in 3 of the last 6 fiscal years.
- Royal Caribbean Group reported a net loss in 3 of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $8.8B | $13.9B | $16.5B | $17.9B |
| Revenue growth | -30.6% | 477.0% | 57.2% | 18.6% | 8.8% |
| Operating margin | -252.6% | -8.7% | 20.7% | 24.9% | 27.4% |
| Net income | −$5.3B | −$2.2B | $1.7B | $2.9B | $4.3B |
| Free cash flow | −$4.1B | −$2.2B | $580M | $2.0B | $1.2B |
| Diluted EPS | $-20.89 | $-8.45 | $6.31 | $10.94 | $15.61 |
Fiscal years as reported in Royal Caribbean Group’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed October 27, 2026 — quarterly report
- 8-K filed October 27, 2026 — Earnings results
- 8-K filed September 23, 2026 — Other event
- 8-K filed August 20, 2026 — Material agreement; New debt obligation
- 8-K filed August 7, 2026 — Material agreement
- 10-Q filed July 28, 2026 — quarterly report
- 8-K filed July 28, 2026 — Earnings results
- 8-K filed July 20, 2026 — Executive or director change; Regulation FD disclosure
Companies like Royal Caribbean Group
Other S&P 500 companies in Hotels, Resorts & Cruise Lines:
- ABNBAirbnbSan Francisco, California
- BKNGBooking HoldingsNorwalk, Connecticut
- CCLCarnival CorporationMiami, Florida
- EXPEExpedia GroupSeattle, Washington
- HLTHilton WorldwideTysons Corner, Virginia
- MARMarriott InternationalBethesda, Maryland
- NCLHNorwegian Cruise Line HoldingsMiami-Dade County, Florida[3]
More from Consumer Discretionary
Questions about Royal Caribbean Group
Is Royal Caribbean Group's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $19.1 billion, up 9.7% from a year earlier, according to its SEC filings.
Is Royal Caribbean Group profitable?
Yes. It earned $4.6 billion in net income over the twelve months to September 30, 2026, a net margin of 23.8%.
Does Royal Caribbean Group have more cash or more debt?
At September 30, 2026 it had $851 million in cash and $22.9 billion in debt, so more debt than cash.
When did Royal Caribbean Group last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 27, 2026.
Which companies are similar to Royal Caribbean Group?
In the S&P 500, Royal Caribbean Group is grouped in Hotels, Resorts & Cruise Lines within the Consumer Discretionary sector. Airbnb (ABNB), Booking Holdings (BKNG), Carnival Corporation (CCL), Expedia Group (EXPE), Hilton Worldwide (HLT) are in the same group.
Understand the numbers
Source: Royal Caribbean Group’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.