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. In the quarter to June 2026, revenue grew 6.48%, EPS fell 5.39%, free cash flow fell 196.4% and total debt rose 20.1%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for three, operating cash flow growth for five.
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Royal Caribbean Cruises Ltd. (RCL) EBITDA
Royal Caribbean Cruises Ltd.'s EBITDA for fiscal 2025 was $6.7B, up 15.9% from $5.8B in fiscal 2024. Over the twelve months to 30 June 2026 it was $7.0B. Over the past ten years it has ranged from −$3.2B (fiscal 2020) to $6.7B (fiscal 2025) — the current reading is the highest in ten years. EBITDA has risen for 5 consecutive fiscal years. Royal Caribbean Cruises Ltd. ranks 3rd of 17 Travel Services companies by EBITDA.
EBITDA, annual
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Annual newest first
| Period | EBITDA | Change |
|---|---|---|
| FY2025 | $6.7B | 15.87% |
| FY2024 | $5.8B | 30.68% |
| FY2023 | $4.4B | 452.49% |
| FY2022 | $804.0M | — |
| FY2021 | −$2.3B | — |
| FY2020 | −$3.2B | — |
| FY2019 | $3.4B | 13.78% |
| FY2018 | $3.0B | 8.77% |
| FY2017 | $2.7B | 13.04% |
| FY2016 | $2.4B | 38.25% |
Quarterly newest first
| Period | EBITDA | Change |
|---|---|---|
| Jun 2026 | $1.7B | 3.40% |
| Mar 2026 | $1.7B | 18.87% |
| Dec 2025 | $1.4B | (34.84%) |
| Sep 2025 | $2.2B | 22.26% |
| 42 more quarters | Free account |
Against its own ten years
EBITDA against peers
| Company | EBITDA |
|---|---|
| BKNG Booking Holdings Inc. compare | $9.9B |
| CCL Carnival Corporation compare | $7.4B |
| RCL Royal Caribbean Cruises Ltd. | $7.0B |
| EXPE Expedia Group, Inc. compare | $3.8B |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | $2.8B |
| ABNB Airbnb, Inc. compare | $2.7B |
| VIK Viking Holdings Ltd. compare | $1.9B |
| TCOM Trip.com Group Limited Sponsored ADR compare | $1.5B |
| MMYT MakeMyTrip Limited compare | $159.3M |
What EBITDA is
EBITDA shows what a company earns from its operations before interest, taxes and the non-cash charges for depreciation and amortization.
Reported line item
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- Revenue
- Net income
- EPS (diluted)
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement