Royal Caribbean Cruises Ltd.
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Range $280 – $425
Price Chart
About the company
Royal Caribbean Cruises Ltd. is a prominent global operator within the cruise sector. The company manages several well-known cruise lines, such as Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises.
- CEO
- Jason T. Liberty
- IPO
- 1993
- Employees
- 108,000
- HQ
- Miami, FL, US
AI snapshot
Six angles, distilled from the data.
The stock is in a constructive multi-month uptrend and still trades above its 200-day average, with the 50-day also above the long-term trend. It remains well below the 52-week high, so the setup is recovery-to-consolidation rather than a full breakout.
Street sentiment leans positive, with a 4.33/5 consensus and a $337.04 average target versus a $293.54 last close. Recent calls are mixed but constructive: BMO started at Outperform with a $370 target, while Loop initiated at Hold and several firms trimmed targets into the $280-$361 range.
The next print carries a solid beat backdrop: RCL has topped EPS in 6 of the last 7 quarters, including a 12.5% beat last quarter. Analysts still see EPS rising to 19.99 next year from 16.38 TTM, so shareholders should watch whether demand and margins keep supporting that path.
No notable discretionary insider buying or selling. Recent filings are dominated by director awards and in-kind tax/vesting activity, which reads as routine compensation flow rather than a directional signal.
Profitability is strong, with a 50.9% gross margin, 26.2% operating margin, and 24.4% net margin. Growth remains healthy too, with revenue up 11.3% year over year and earnings up 28.9%, while free cash flow reached $11.69 billion in fiscal 2025.
RCL still screens as a premium cruise operator, supported by scale, brand breadth, and a 69-ship fleet. The valuation is not cheap at 17.76x earnings, but it sits within a growth-levered consumer discretionary name rather than a low-multiple travel peer.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $85.54B
- P/E
- 19.60
- Fwd P/E
- 18.41
- PEG
- 0.91
- P/S
- 4.58
- P/B
- 8.38
- EV/EBITDA
- 14.99
- Div Yield
- 1.57%
- Gross Margin
- 46.64%
- Op Margin
- 27.32%
- Net Margin
- 23.56%
- ROE
- 43.83%
- ROIC
- 14.56%
Latest fiscal year · YoY change
- Revenue
- $17.93B+8.8%
- Gross Profit
- $8.40B+7.2%
- Op Income
- $4.91B
- Net Income
- $4.27B+48.5%
- EPS
- $15.73+43.0%
- OCF Growth
- +22.8%
- FCF Growth
- -38.1%
- 52W High
- $366.50
- 52W Low
- $232.10
- 50D MA
- $288.46
- 200D MA
- $286.05
- Beta
- 1.76
- RSI (14)
- 65
- Avg Volume
- 2.83M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Royal Caribbean Group said Q1 2026 topped expectations on strong demand, record WAVE season, and better-than-expected costs, while trimming full-year yield outlook due to Mediterranean and Mexico disruptions.· April 30, 2026
- Q1 adjusted EPS was $3.60, up 33% year over year and $0.37 above the midpoint of guidance.
- Revenue grew 11% year over year; net yield rose 2%; adjusted EBITDA was about $1.7 billion with a 38% margin.
- Management said the consumer remains healthy, bookings are strong, onboard spending is elevated, and the book position is at record prices.
- 2026 guidance calls for double-digit EPS growth, adjusted EPS of $17.10 to $17.50, and revenue growth of roughly double digits.
- Geopolitical disruptions in the Middle East, Mediterranean, and West Coast of Mexico pressured near-term yields and added fuel cost headwinds, but management said demand has recently improved.
First-quarter adjusted EPS was $3.60, which was $0.37 above the midpoint of guidance and 33% above last year. Revenue increased 11% year over year, net yield grew 2%, and adjusted EBITDA was approximately $1.7 billion with a 38% margin, more than 300 basis points higher year over year. Operating cash was $1.8 billion, up 13%, and the company returned $1.1 billion of capital via dividends and share repurchases. For 2026, the company now expects revenue to grow roughly double digits, net yield to rise 1.5% to 2.5%, capacity to grow 6.7%, and adjusted EPS of $17.10 to $17.50. Q2 adjusted EPS is guided to $3.83 to $3.93, with Q2 capacity up 4.9%, net yields up about 0.2% in constant currency, and net cruise costs excluding fuel up 4.6% to 5.1%.
Jason Liberty emphasized that demand remains strong across the portfolio, with record WAVE season, strong booking volumes, and onboard spending well above prior years. He framed the business as well positioned because of its differentiated brands, destinations, loyalty ecosystem, and growing use of technology and AI. His tone was confident and optimistic, but he acknowledged near-term pressure from Middle East-related disruptions, especially on Mediterranean and Mexico itineraries and fuel costs.
Naftali Holtz highlighted that Q1 adjusted EPS of $3.60 beat guidance by $0.37, helped by better-than-expected revenue, lower costs, and stronger joint venture performance. He said adjusted EBITDA was about $1.7 billion, the margin was 38%, and operating cash was $1.8 billion; liquidity ended at $6.9 billion with leverage below 3x. He also detailed 2026 cost and fuel assumptions, including net cruise costs excluding fuel being approximately flat for the full year, fuel expense of $1.35 billion, 59% hedged for the remainder of 2026, and full-year EPS guidance of $17.10 to $17.50 including a $0.62 fuel headwind and a $0.12 TUI headwind.
Analysts focused on whether the stronger Q4 yield outlook implies that only the Mediterranean and Mexico were dragging the full-year yield guide, and management agreed the year has a 'smiley face' shape with the strongest period later in the year and little Med exposure in Q4. Questions also centered on whether the booking slowdown from the Middle East conflict had reversed; Jason Liberty said the company has 'turned the corner,' bookings have rebounded in recent weeks, and there is no sign of a 2027 impact. Other questions covered Perfect Day Mexico, where management said the project is back on track after resolving environmental issues and remains targeted for a soft opening in Q4 2027 and full opening in 2028.
The call pointed to durable demand, record booking levels, and a consumer management described as healthy and engaged, with more repeat customers and stronger digital engagement. Management also sees multiple long-term growth drivers: new ships, new destinations like Perfect Day Mexico and Royal Beach Club Santorini, and loyalty and AI initiatives that could deepen customer lifetime value.
Near-term earnings and yield are being pressured by geopolitical disruptions that reduced Mediterranean and West Coast of Mexico demand, especially in Q2 and Q3, and fuel costs are rising by about $0.62 per share for 2026. Management also flagged higher Q2 cost growth from dry docks, air travel disruptions, and lower TUI earnings, which means the year is still facing meaningful execution and external headwinds.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 94.9%
- Shares Outstanding
- 268.19M
- Float Shares
- 254.41M
of shares held by institutions
1,246 13F filers
Buy/sell ratio 1.22. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for RCL, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Dan NewhouseHouse · WA04 | Buy | Dec 31, 25 | Filing → |
| Rob BresnahanHouse · PA08 | Buy | Apr 8, 25 | Filing → |
| George WhitesidesHouse · CA27 | Sell | Mar 24, 25 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Mar 20, 24 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Feb 13, 24 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Jan 10, 24 | Filing → |
| Susie LeeHouse · NV03 | Sell | Sep 13, 23 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Apr 25, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Aug 1, 22 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Jun 27, 22 | Filing → |
| Ro KhannaHouse · CA17 | Buy | May 5, 22 | Filing → |
| Ro KhannaHouse · CA17 | Sell | May 23, 22 | Filing → |
| Ro KhannaHouse · CA17 | Sell | May 10, 22 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 30.25M | ▲ 187.28K |
| Capital Research Global Investors | 28.26M | ▲ 8.08M |
| Capital International Investors | 25.05M | ▼ 11.11M |
| Blackrock, Inc. | 22.05M | ▼ 497.09K |
| Capital World Investors | 20.06M | ▲ 3.50M |
| State Street Corp | 10.42M | ▼ 64.04K |
| Geode Capital Management, LLC | 7.05M | ▼ 5.66K |
| Jpmorgan Chase & Co | 3.43M | ▲ 483.10K |
| Morgan Stanley | 3.11M | ▲ 174.04K |
| Invesco Ltd. | 2.40M | ▼ 311.97K |
| Northern Trust Corp | 2.37M | ▼ 40.17K |
| Primecap Management Co | 2.35M | ▼ 63.60K |
Held by 497 ETFs
Biggest fund positions in RCL by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 16, 26 | Bunch Tara | other | 0 |
| May 28, 26 | Yeung Rebecca | other | 78 |
| May 28, 26 | Wilhelmsen Arne Alexander | other | 831 |
| May 28, 26 | Wiernicki Christopher J | other | 831 |
| May 28, 26 | Wiernicki Christopher J | other | 93 |
| May 28, 26 | Thompson Donald | other | 831 |
| May 28, 26 | Thompson Donald | other | 78 |
| May 28, 26 | Sorensen Vagn O | other | 831 |
| May 28, 26 | Ofer Eyal | other | 831 |
| May 28, 26 | MOORE ANN S | other | 78 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our RCL coverage
Recent articles, reports, and earnings notes.

Royal Caribbean Cruises (RCL): Premium Pricing Drives Growth
Royal Caribbean is delivering record pricing, strong margin expansion, and double-digit revenue growth as its premium cruise platform keeps monetizing demand better than a typical cyclical operator.

Best Consumer Discretionary Stocks for June 2026
These seven consumer discretionary stocks stand out for business quality, with the ranking balancing margins, growth, valuation, and earnings execution.

Royal Caribbean Cruises (RCL): Premium Growth and Earnings Power
Royal Caribbean looks like a high-quality cyclical compounder, with strong demand, expanding margins, and 2026 EPS guidance pointing to another year of double-digit growth. The stock is not cheap, but the report argues the valuation is still reasonable versus its earnings trajectory.
Want a deeper read on RCL?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Royal Caribbean (RCL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
zacks.com · Jul 28
Royal Caribbean (RCL) Tops Q2 Earnings and Revenue Estimates
zacks.com · Jul 28
Royal Caribbean trims revenue forecast on booking hit from geopolitical tensions
reuters.com · Jul 28
Royal Caribbean Cuts Revenue Outlook as Bookings Remain Pressured
wsj.com · Jul 28
Is Royal Caribbean Group (RCL) Overvalued After Q2 Earnings Beat? EPS at $4.21 vs. $4.00 Estimate, GF Score: 84/100
gurufocus.com · Jul 28
ROYAL CARIBBEAN GROUP REPORTS SECOND QUARTER RESULTS ABOVE EXPECTATIONS AND RAISES FULL YEAR GUIDANCE
prnewswire.com · Jul 28
Cetera Investment Advisers Sells 2,078 Shares of Royal Caribbean Cruises Ltd. $RCL
defenseworld.net · Jul 28
Royal Caribbean Earnings Will Chart the Course for Cruise Stocks
barrons.com · Jul 27
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
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AI analysis · Last refreshed July 25, 2026 · Live quote · Not investment advice