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Earnings transcript
Read the complete earnings call transcript.
RCL
Royal Caribbean Cruises Ltd.
$273.59
-8.47
(-3%)
| Exchange: | NYSE |
| Market Cap: | 74.612B |
| Shares Outstanding: | 107.5M |
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Travel Services | |||||
| CEO: | Jason T. Liberty | |||||
| Full Time Employees: | 105950 | |||||
| Address: |
| |||||
| Website: | https://www.rclinvestor.com |
Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships. The company was founded in 1968 and is headquartered in Miami, Florida.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 13,900,000 | 16,485,000 | 17,935,000 |
| Gross Profit | 6,125,000 | 7,833,000 | 8,400,000 |
| EBITDA | 4,561,000 | 6,087,000 | 6,909,000 |
| Operating Income | 2,878,000 | 4,106,000 | 4,909,000 |
| Net Income | 1,697,000 | 2,877,000 | 4,273,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 35,131,000 | 37,070,000 | 41,619,000 |
| Total Liabilities | 30,232,000 | 29,335,000 | 31,374,000 |
| Total Stockholders Equity | 4,724,000 | 7,563,000 | 10,037,000 |
| Total Debt | 22,130,000 | 20,820,000 | 22,635,000 |
| Cash and Cash Equivalents | 497,000 | 388,000 | 825,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 4,477,000 | 5,265,000 | 6,465,000 |
| Capital Expenditure | -3,897,000 | -3,268,000 | -5,229,000 |
| Free Cash Flow | 580,000 | 1,997,000 | 1,236,000 |
| Net Income | 1,704,000 | 2,896,000 | 4,291,000 |
| Net Change in Cash | -1,438,000 | -109,000 | 437,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 25,107,902.474 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 26,396,097.922 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 25,420,000 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 764,127.986 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 803,332.623 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 773,626.289 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 7,712,730.508 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 8,229,082.710 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 7,837,830.028 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 7,306,630.778 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 7,681,507.513 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 7,397,454.031 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 28.710 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 30.140 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 28.250 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 6 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Revenue Performance: RCL has demonstrated robust revenue growth in recent income statements, reflecting a solid recovery in the cruise industry post-pandemic. This aligns with positive industry trends in travel and leisure, as indicated by sector performance metrics showing consistent growth over 1-year and 5-year periods.
- Operational Efficiency: High gross profit margins (as per key metrics TTM) and positive operating income suggest effective cost management and operational scalability, positioning RCL favorably against industry peers.
- Market Position: As a key player in the cruise industry within the consumer cyclical sector, RCL benefits from a strong brand presence and a large market capitalization, providing stability and investor confidence.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates RCL intrinsic value between $105.32 – $198.25 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about RCL valuation
Is Royal Caribbean Cruises Ltd. (RCL) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Royal Caribbean Cruises Ltd. (RCL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is RCL a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether RCL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is RCL’s P/E ratio?
You can see RCL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for RCL?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is RCL a good long-term investment?
Whether RCL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
RCL
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Trading Metrics:
| Open: | 270.94 | Previous Close: | 282.06 | |
| Day Low: | 266.44 | Day High: | 280.29 | |
| Year Low: | Year High: | |||
| Price Avg 50: | Price Avg 200: | |||
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