Royal Caribbean Cruises Ltd. (RCL) Stock Price & Analysis
Royal Caribbean Cruises Ltd. (RCL) closed at USD 286.13 on Thursday, October 22, 2026, down 0.80% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 288.45; the Oct 22, 2026 session ranged USD 283.91–291.05 on volume of 1,879,994 shares. Market capitalization is $76.53B, with a 52-week range of USD 222.22–356.39 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:57 UTC.
Also available as compact Markdown for AI agents: nexqual.com/RCL.md
Key facts (RCL)
- Last four reported quarters (through Jun 30, 2026): revenue $18.7B, net income $4.40B (23.5% margin), free cash flow -$416M (SEC filings).
- Valuation: P/E 17.4x (avg 20.6x at the last 3 fiscal year-ends), EV/EBITDA 14.3x, net debt $22.5B.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $4.0M; 1 not under a Rule 10b5-1 plan ($4.0M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.07 on a 1–5 scale) (29 analysts), mean target USD 350.11 (range 262–425).
- Total return with dividends: 1Y -7.9% vs S&P 500 +14.9%; 5Y +249.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 6.38, revenue estimate $5.61B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (RCL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.53B | $8.84B | $13.9B | $16.5B | $17.9B | $18.7B |
| Gross profit | -$1.21B | $2.22B | $6.13B | $7.83B | $8.85B | — |
| Operating income | -$3.87B | -$766M | $2.88B | $4.11B | $4.91B | $5.10B |
| Net income | -$5.26B | -$2.16B | $1.70B | $2.88B | $4.27B | $4.40B |
| EPS (diluted) | -$20.89 | -$8.45 | $6.31 | $10.94 | $15.61 | — |
| Free cash flow | -$4.11B | -$2.23B | $580M | $2.00B | $1.24B | -$416M |
| Gross margin | -78.8% | 25.2% | 44.1% | 47.5% | 49.4% | — |
| Operating margin | -252.6% | -8.7% | 20.7% | 24.9% | 27.4% | 27.3% |
| Net margin | -343.3% | -24.4% | 12.2% | 17.5% | 23.8% | 23.5% |
| Revenue growth | -30.6% | +477.0% | +57.2% | +18.6% | +8.8% | — |
| Cash + short-term investments | $2.70B | $1.94B | $497M | $388M | $825M | — |
| Total debt | $21.1B | $23.4B | $21.5B | $20.1B | $21.3B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (RCL)
P/E 17.4x · P/S 4.1x · EV/EBITDA 14.3x · EV/Sales 5.3x · P/B 7.5x · FCF yield -0.54% · Earnings yield 5.75% · Dividend yield (paid, TTM) 1.50% · Buyback yield (TTM) 2.55% · Net debt $22.5B · EV $99.1B
P/E at fiscal year-ends: Dec 2025 17.9x, Dec 2024 22.4x, Dec 2023 21.6x.
Insider sales (SEC Form 4, open-market, last ~7 months) (RCL)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-29 | Bayley Michael W | Pres&CEO, Royal Caribbean Intl | 12,811 | $4.0M | 22% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (RCL)
Consensus Buy (mean 2.07 on a 1–5 scale), 29 analysts; mean target USD 350.11 (low 262, high 425).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | TD Cowen | Target raised | Buy | $337 → $340 |
| 2026-10-20 | Susquehanna | Target lowered | Positive | $372 → $355 |
| 2026-10-12 | Wells Fargo | Target lowered | Overweight | $388 → $358 |
| 2026-10-08 | Jefferies | Upgrade | Hold → Buy | $305 → $330 |
| 2026-10-07 | Barclays | Target lowered | Overweight | $340 → $337 |
| 2026-09-28 | Tigress Financial | Maintained | Buy | $425 |
| 2026-09-28 | Deutsche Bank | Upgrade | Hold → Buy | $299 |
| 2026-09-24 | Truist Securities | Target raised | Hold | $297 → $298 |
| 2026-09-24 | JP Morgan | Target raised | Overweight | $345 → $394 |
| 2026-09-23 | BMO Capital | Reiterated | Outperform | $370 |
| 2026-07-30 | Morgan Stanley | Target raised | Equal-Weight | $280 → $300 |
| 2026-07-29 | Stifel | Target raised | Buy | $410 → $415 |
Total return (dividends reinvested) (RCL)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -7.9% | +249.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.9% | +28.4% |
| Volatility (annualized) | 47.3% | 48.0% |
| Max drawdown | -32.7% (Feb 2026→Sep 2026) | -66.1% (Nov 2021→Jul 2022) |
RCL revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Cruise Itinerary | $4.61B | 95.5% | +6.8% |
| Passenger ticket revenues | $3.34B | 69.2% | +4.5% |
| Onboard and other revenues | $1.49B | 30.8% | +11.1% |
| Port Costs | $354.0M | 7.3% | +11.3% |
| Other Revenues | $218.0M | 4.5% | +0.5% |
| Total revenue | $4.83B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
RCL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | TUI Cruises | “Throughout this Annual Report on Form 10-K, we also refer to our partner brands in which we hold an ownership interest, including "TUI Cruises," and "Hapag-Lloyd Cruises." However, because these partner brands are unconsolidated investments, our operating results and other disclosures herein do not include these brands unless otherwise specified.” |
| Partner | TUI | “TUIC is a joint venture owned 50% by us and 50% by TUI AG, a German tourism company, which is designed to serve the contemporary and premium segments of the German cruise market by offering products tailored for German guests.” |
| Partner | Infrastructure Partners VI | “For instance, through our partnership agreement with iCON Infrastructure Partners VI, L.P. ("iCON"), we own, develop, and manage cruise terminal facilities and infrastructure in key ports of call, initially including several development projects in Italy and Spain.” |
| Partner | SpaceX | “Our entire fleet is equipped with Starlink through our partnership with SpaceX, bringing the next generation in shipboard connectivity and unlocking an improved guest experience.” |
Quoted from the company's 10-K filed Feb 11, 2026.
RCL company outlook (results filed Jul 28, 2026)
- “Outlook: • Revenue is expected to grow 9% year over year.”
Quoted word-for-word from the SEC 8-K results press release.
RCL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $6.38 | $6.26 | +1.8% | $5.61B | 23 |
| Next quarter (ends Dec 2026) | $3.66 | $3.46 | +5.8% | $4.69B | 23 |
| Current fiscal year (ends Dec 2026) | $17.83 | $17.33 | +2.9% | $19.58B | 29 |
| Next fiscal year (ends Dec 2027) | $20.39 | $19.99 | +2.0% | $21.00B | 29 |
RCL options: expected move
Options price a move of about ±8.4% (±$24.05) by Oct 30, 2026, which includes earnings on Oct 27, 2026. Over the last 8 reports the stock moved ±7.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 70.8% | ±8.4% |
| Nov 6, 2026 | 14 | 58.9% | ±9.5% |
| Nov 13, 2026 | 21 | 52.6% | ±10.4% |
| Nov 20, 2026 | 28 | 50.6% | ±11.4% |
| Nov 27, 2026 | 35 | 47.5% | ±11.9% |
| Dec 4, 2026 | 42 | 45.9% | ±12.6% |
| Dec 18, 2026 | 56 | 44.9% | ±14.2% |
| Jan 15, 2027 | 84 | 42.9% | ±16.5% |
30-day implied volatility 50.2% vs 41% realized over the last 30 trading days. Put/call ratio (volume) 2.09. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:57 UTC)
| Price | USD 286.13 |
|---|---|
| Change | ▼ 0.80% (down) |
| Previous Close | USD 288.45 |
| Open | USD 285.43 |
| Day Range | USD 283.91 – 291.05 |
| 52-Week Range | USD 222.22 – 356.39 |
| Volume | 1,879,994 shares |
| Market Cap | $76.53B |
| Exchange | NYQ |
Technical Analysis (RCL)
Nexqual's technical model rates RCL "STRONG BUY" based on 5 bullish and 0 bearish signals across 127 daily candles, as of October 23, 2026 at 09:57 UTC.
| Overall Signal | STRONG BUY |
|---|---|
| RSI (14) | 59.04 (neutral) |
| vs SMA50 | Above (USD 272.54) |
| MACD | 5.24 (positive) |
Analyst Ratings (RCL)
Wall Street analysts rate RCL "Buy" based on 29 analysts, with a mean price target of USD 350.11 (range USD 262–425), per Nexqual as of October 23, 2026 at 09:57 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 29 |
| Mean Target | USD 350.11 |
| High Target | USD 425 |
| Low Target | USD 262 |
| Buy / Hold / Sell | 23 / 6 / 0 |
Earnings (RCL)
| Next Earnings Date | 2026-10-27 |
|---|---|
| EPS Estimate | USD 6.38 |
| Revenue Estimate | $5.61B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 4.21 vs est 3.98 ▲ beat |
| 2026-03-31 | USD 3.6 vs est 3.2 ▲ beat |
| 2025-12-31 | USD 2.8 vs est 2.8 ▲ beat |
| 2025-09-30 | USD 5.75 vs est 5.68 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financials & Fundamentals (RCL)
| Total Revenue | $18.68B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +6.50% |
| Gross Margin | +50.28% |
| Operating Margin | +27.07% |
| Profit Margin | +23.54% |
| ROE | +44.67% |
| Debt / Equity | 2.25 |
| Current Ratio | 0.21 |
| Total Cash | $876.00M |
| Total Debt | $23.52B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$416.00M (-2.2% of revenue) |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financial Health Score (RCL)
Nexqual rates Royal Caribbean Cruises Ltd.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:57 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 50%, operating 27% (last 12 months) |
| Balance Sheet | Critical — $875M cash and investments vs $23.4B debt (Jun 2026, SEC) |
| Cash Flow | Weak — FCF negative: -$416M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Strong — ROE 45%, ROA 7.7% |
Ownership (RCL)
| Insider Ownership | +6.20% |
|---|---|
| Institutional Ownership | +84.39% |
| Shares Outstanding | 267.45M |
| Float | 241.97M |
| Short % of Float | +6.20% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Leadership (RCL)
Royal Caribbean Cruises Ltd. is led by Jason T. Liberty, CEO & Chairman, per Nexqual as of October 23, 2026 at 09:57 UTC.
| CEO & Chairman | Jason T. Liberty |
|---|---|
| Executive VP & CFO | Naftali Holtz |
| Executive Vice President of Newbuilding | Harri U. Kulovaara |
| President & CEO of Royal Caribbean | Michael W. Bayley |
| President of Celebrity Cruises | Laura J. Hodges Bethge |
Major Backers & Investors (RCL)
Notable institutional backers of Royal Caribbean Cruises Ltd. include Capital Group, Capital International Investors, Osiris Holdings Inc., according to Nexqual as of October 23, 2026 at 09:57 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Capital Group | 19.79% |
| Capital International Investors | 9.16% |
| Osiris Holdings Inc. | 4.38% |
| WASHINGTON MUTUAL INVESTORS FUND | 3.54% |
| Growth Fund of America | 3.13% |
| NEW PERSPECTIVE FUND | 2.55% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 10.57% |
| BlackRock | 7.71% |
| State Street | 4% |
| Geode Capital | 2.6% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
From Royal Caribbean Cruises Ltd.'s Latest SEC 10-K Filing (filed 2026-02-11)
Key Strengths & Strategy (as disclosed to the SEC)
- The global vacation industry represents a large and expanding market of over $2 trillion, our company currently holds a small share of this market, and we believe our differentiated vacation ecosystem and strategic expansion initiatives provide a compelling opportunity to capture additional market share.
- The portability of our ships allows us to deploy our ships to meet demand within our existing and new cruise markets.
- We have developed and implemented enhancements to our reservations system that provide us and our travel partners with additional capabilities, making it easier to do business with us.
Partnerships
- For instance, through our partnership agreement with iCON Infrastructure Partners VI, L.P. ("iCON"), we own, develop, and manage cruise terminal facilities and infrastructure in key ports of call, initially including several development projects in Italy and Spain.
- Our entire fleet is equipped with Starlink through our partnership with SpaceX, bringing the next generation in shipboard connectivity and unlocking an improved guest experience.
Legal & Regulatory Risks (Item 1A, quoted)
- Changes in U.S. or other countries' foreign travel policy have affected, and may continue to affect our results of operations.
- Our ability to rely on Section 883 could be challenged or could change in the future.
- We are not a U.S. corporation and, as a result, our shareholders may be subject to the uncertainties of a foreign legal system in protecting their interests.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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| ABNB | Airbnb, Inc. | USD 175.76 | ▲ 1.19% |
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:57 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt