Royal Caribbean Cruises Ltd.

RCL Consumer Cyclical Travel Services

Royal Caribbean Cruises Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $17.9 billion, up 8.80% from fiscal 2024.

Revenue
+6.48%
EPS
−5.39%
Free cash flow
−196.4%
Total debt
+20.1%

Quarter to June 2026, against a year earlier

307.18 3.36 −1.08%
Market cap
$83.1B
P/E
18.9×
Fwd P/E
17.4×
Dividend yield
1.79%
F-score
7/9
Altman Z
2.18
Beneish M
−2.86
Dividend safety
57/100

Royal Caribbean Cruises Ltd. 10-K filed Feb 11, 2026

Fiscal year 2025 · Period ended Dec 31, 2025 · Filed · accepted 5:21 PM ET · Document on sec.gov · Filing index

What changed

Item 1, Business, against the 10-K filed Feb 14, 2025: 14 added · 9 removed · 85 modified; 17 with only figures updated

  1. Modified · General

    We are one of the leading cruise companies in the world. We own a vacation industry leader, owning and operateoperating three global cruise vacation brands: Royal Caribbean, Celebrity Cruises and Silversea Cruises (collectively, our "Global Brands"). We also own a 50% joint venture interest in TUI Cruises GmbH ("TUIC"), which operates the German brands TUI Cruises and Hapag-Lloyd Cruises (collectively, our "Partner Brands"). We account for our investments in our Partner Brands under the equity method of accounting. Together, our Global Brands and our Partner Brands have a combined fleet of 6869 ships in the cruise vacation industry with an aggregate capacity of approximately 166,900179,720 berths as of December 31, 20242025. Our ships offer a selection of worldwide itineraries that call on more than 1,000 destinations on all seven continents. We also own a growing portfolio of private land-based destinations, including our Perfect Day and Royal Beach Club collections.