Royal Caribbean Cruises Ltd (RCL) stock
RCLNYSEWater TransportationFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 27, 2026Score 13/3039% above fair value
$323.27+1.28 (+0.40%)
Close on Nov 13, 2026Market cap $86.47BP/E 19.1Yield 1.08%
Royal Caribbean Cruises operating margin
Operating margin is operating income as a percentage of revenue.
Royal Caribbean Cruises's operating margin for the twelve months ending Sep 30, 2026 was 27.6%. For fiscal 2025 it was 27.4%, against 24.9% the year before. The highest annual figure on record is 27.4% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 27.4% | +2.5 |
| FY2024 | Dec 31, 2024 | 24.9% | +4.2 |
| FY2023 | Dec 31, 2023 | 20.7% | +29.4 |
| FY2022 | Dec 31, 2022 | -8.7% | +243.9 |
| FY2021 | Dec 31, 2021 | -252.6% | −44.3 |
| FY2020 | Dec 31, 2020 | -208.3% | −227.3 |
| FY2019 | Dec 31, 2019 | 19.0% | −0.9 |
| FY2018 | Dec 31, 2018 | 20.0% | +0.1 |
| FY2017 | Dec 31, 2017 | 19.9% | +2.5 |
| FY2016 | Dec 31, 2016 | 17.4% | +6.8 |
| FY2015 | Dec 31, 2015 | 10.5% | −1.1 |
| FY2014 | Dec 31, 2014 | 11.7% | +1.6 |
| FY2013 | Dec 31, 2013 | 10.0% | +4.8 |
| FY2012 | Dec 31, 2012 | 5.2% | −7.1 |
| FY2011 | Dec 31, 2011 | 12.4% | +0.5 |
| FY2010 | Dec 31, 2010 | 11.9% | +3.6 |
| FY2009 | Dec 31, 2009 | 8.3% | −4.4 |
| FY2008 | Dec 31, 2008 | 12.7% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 33.5% | +0.3 |
| Q2 FY2026 | Jun 30, 2026 | 27.0% | −2.2 |
| Q1 FY2026 | Mar 31, 2026 | 26.1% | +2.5 |
| Q4 FY2025 | Dec 31, 2025 | 21.9% | +5.3 |
| Q3 FY2025 | Sep 30, 2025 | 33.1% | −0.3 |
| Q2 FY2025 | Jun 30, 2025 | 29.3% | +2.5 |
| Q1 FY2025 | Mar 31, 2025 | 23.6% | +3.5 |
| Q4 FY2024 | Dec 31, 2024 | 16.6% | −0.5 |
| Q3 FY2024 | Sep 30, 2024 | 33.4% | +3.0 |
| Q2 FY2024 | Jun 30, 2024 | 26.7% | +4.9 |
| Q1 FY2024 | Mar 31, 2024 | 20.1% | +10.7 |
| Q4 FY2023 | Dec 31, 2023 | 17.1% | +16.6 |
| Q3 FY2023 | Sep 30, 2023 | 30.4% | +20.4 |
| Q2 FY2023 | Jun 30, 2023 | 21.9% | +31.9 |
| Q1 FY2023 | Mar 31, 2023 | 9.4% | +90.5 |
| Q4 FY2022 | Dec 31, 2022 | 0.5% | +105.5 |
| Q3 FY2022 | Sep 30, 2022 | 10.0% | +230.1 |
| Q2 FY2022 | Jun 30, 2022 | -10.0% | +2000.3 |
| Q1 FY2022 | Mar 31, 2022 | -81.1% | +1845.0 |
| Q4 FY2021 | Dec 31, 2021 | -105.0% | +2872.7 |
| Q3 FY2021 | Sep 30, 2021 | -220.1% | +510.2 |
| Q2 FY2021 | Jun 30, 2021 | -2010.3% | −1946.1 |
| Q1 FY2021 | Mar 31, 2021 | -1926.1% | −1938.0 |
| Q4 FY2020 | Dec 31, 2020 | -2977.8% | −3005.7 |
| Q2 FY2020 | Jun 30, 2020 | -730.3% | −750.8 |
| Q1 FY2020 | Mar 31, 2020 | -64.3% | −77.3 |
| Q4 FY2019 | Dec 31, 2019 | 11.9% | −3.7 |
| Q3 FY2019 | Sep 30, 2019 | 28.0% | −0.6 |
| Q2 FY2019 | Jun 30, 2019 | 20.4% | +0.9 |
| Q1 FY2019 | Mar 31, 2019 | 13.1% | −0.5 |
| Q4 FY2018 | Dec 31, 2018 | 15.6% | +0.3 |
| Q3 FY2018 | Sep 30, 2018 | 28.6% | −0.1 |
| Q2 FY2018 | Jun 30, 2018 | 19.5% | +0.4 |
| Q1 FY2018 | Mar 31, 2018 | 13.5% | −0.4 |
| Q4 FY2017 | Dec 31, 2017 | 15.3% | −0.2 |
| Q3 FY2017 | Sep 30, 2017 | 28.7% | – |
| Q2 FY2017 | Jun 30, 2017 | 19.1% | – |
| Q1 FY2017 | Mar 31, 2017 | 13.9% | – |
| Q4 FY2016 | Dec 31, 2016 | 15.5% | – |
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