Also trades as: 0I1W.L (LSE) · $vol 1M
RCL NYSE
Royal Caribbean Cruises Ltd.
1W: -0.4%
1M: +15.7%
3M: -12.9%
YTD: -0.9%
1Y: -11.4%
3Y: +246.8%
5Y: +231.5%
$295.92
+15.32 (+5.46%)
After Hours: $297.41 (+1.49, +0.50%)
Weekly Expected Move ±5.7%
$245
$261
$276
$292
$308
Credit Risk of going bust: higher than 55% of companies Debt: 23.9% of company value Bonds: $376.8M held by 517 funds, 108 bp over Treasuries → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $8.24 (down 97%), Royal Caribbean Cruises Ltd. would be worth roughly what it owes.
Total debt $23.52B against a stock market value of $75.05B.
Distance to default 4.70 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $12.20B (short-term plus half of long-term), stock volatility 47.3%; Altman Z'' 0.31. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $8.24 (down 97%), Royal Caribbean Cruises Ltd. would be worth roughly what it owes.
Total debt $23.52B against a stock market value of $75.05B.
Distance to default 4.70 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $12.20B (short-term plus half of long-term), stock volatility 47.3%; Altman Z'' 0.31. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$17.9B
+8.8% ▲
5Y CAGR: +52.0%
Gross Profit
$8.4B
+7.2% ▲
Operating Income
$4.9B
+19.6% ▲
Net Income
$4.3B
+48.5% ▲
EPS (Diluted)
$15.61
+42.7% ▲
EBITDA
$6.9B
+13.5% ▲
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $8.8B | $13.9B | $16.5B | $17.9B |
| YoY Growth | -30.6% | +477.0% | +57.2% | +18.6% | +8.8% |
| Cost of Revenue | $2.7B | $6.6B | $7.8B | $8.7B | $9.5B |
| Gross Profit | -$1.2B | $2.2B | $6.1B | $7.8B | $8.4B |
| Gross Margin | -78.8% | 25.2% | 44.1% | 47.5% | 46.8% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $1.4B | $1.6B | $1.8B | $2.1B | $2.2B |
| Operating Expenses | $2.7B | $3.0B | $3.2B | $3.7B | $3.5B |
| Operating Income | -$3.9B | -$766M | $2.9B | $4.1B | $4.9B |
| Operating Margin | -252.6% | -8.7% | 20.7% | 24.9% | 27.4% |
| Interest Expense | $1.3B | $1.4B | $1.4B | $1.6B | $992M |
| Income Before Tax | -$5.3B | -$2.2B | $1.7B | $2.9B | $4.3B |
| Tax Expense | $0 | $0 | $0 | $0 | $15M |
| Net Income | -$5.3B | -$2.2B | $1.7B | $2.9B | $4.3B |
| Net Margin | -343.3% | -24.4% | 12.2% | 17.5% | 23.8% |
| EPS (Diluted) | $-20.89 | $-8.45 | $6.31 | $10.94 | $15.61 |
| EBITDA | -$2.7B | $615M | $4.6B | $6.1B | $6.9B |
| Shares Outstanding | 252M | 255M | 283M | 279M | 273M |