PerpEquities

Equity · Consumer cyclical

Is Royal Caribbean Group (RCL) tradable as a perp? Not yet

Royal Caribbean Group is a global cruise operator offering voyages to about 1,000 destinations with a fleet of 61 vessels under brands like Royal Caribbean International and Celebrity Cruises.

Not yet listed on any perp exchange

No perpetual-futures venue lists RCL yet. We track it continuously; as soon as the first listing appears, this page becomes a full market page. Until then: fundamentals below and tradable alternatives.

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TradingView symbol NYSE:RCL

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Company data

Company fundamentals

Updated 38m ago
Market cap
$65.9B
Updated 38m ago
Revenue
$18.7B
Trailing 12 months
Revenue growth
+9%
Next fiscal year
Profit margin
+23.6%
P/E
15.1
Peer P/E 26.7
Free cash flow
-$416M
Trailing 12 months
More metrics
Net income
$4.4B
Trailing 12 months
P/S
3.5
Peer P/E
26.7
Similar listed perps
Revenue estimate
$19.5B
Next fiscal year
Earnings
2026-10-27
Revenue est. $5.6B · Updated 38m ago
Dividend
$1.5
2026-09-17

Fundamental detail

Annual + quarterly
Latest revenue$17.9B
Net margin+23.8%
Free cash flow$1.2B
Net debt$21.8B
2020$2.2B
2021$1.5B
2022$8.8B
2023$13.9B
2024$16.5B
2025$17.9B
PeriodRevenueGrowthNet incomeFCF
2020$2.2B-80%-$5.8B-$5.7B
2021$1.5B-31%-$5.3B-$4.1B
2022$8.8B+477%-$2.2B-$2.2B
2023$13.9B+57%$1.7B$580M
2024$16.5B+19%$2.9B$2B
2025$17.9B+9%$4.3B$1.2B
PeriodGross marginOperating marginNet marginROEROA
2020-25.2%-208.3%-262.5%-66.2%-17.9%
2021-78.8%-252.6%-343.3%-103.4%-16.3%
2022+25.2%-8.7%-24.4%-75.1%-6.4%
2023+44.1%+20.7%+12.2%+35.9%+4.8%
2024+47.5%+24.9%+17.5%+38.0%+7.8%
2025+46.8%+27.4%+23.8%+42.6%+10.3%
PeriodCashDebtNet debtCurrent ratio
2020$3.7B$20B$16.3B0.95
2021$2.7B$21.7B$19B0.49
2022$1.9B$24B$22.1B0.37
2023$497M$22.1B$21.6B0.19
2024$388M$20.8B$20.4B0.17
2025$825M$22.6B$21.8B0.18
PeriodMarket capEnterprise valueP/SP/E
2020$16B$32.3B7.2-2.8
2021$19.4B$38.4B12.6-3.7
2022$12.6B$34.7B1.4-5.8
2023$33.1B$54.8B2.419.5
2024$60.2B$80.6B3.721.0
2025$75.6B$97.4B4.217.7
Q3 2024$4.9B
Q4 2024$3.8B
Q1 2025$4B
Q2 2025$4.5B
Q3 2025$5.1B
Q4 2025$4.3B
Q1 2026$4.5B
Q2 2026$4.8B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$4.9B+17%$1.1B$563M
Q4 2024$3.8B+13%$552M$915M
Q1 2025$4B+7%$730M$1.2B
Q2 2025$4.5B+10%$1.2B$910M
Q3 2025$5.1B+5%$1.6B-$989M
Q4 2025$4.3B+13%$754M$116M
Q1 2026$4.5B+11%$941M$1.3B
Q2 2026$4.8B+6%$1.1B-$877M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+51.1%+33.4%+22.7%+15.8%+3.0%
Q4 2024+45.4%+16.6%+14.7%+7.3%+1.5%
Q1 2025+48.0%+23.6%+18.3%+9.2%+1.9%
Q2 2025+49.7%+29.3%+26.7%+13.2%+3.1%
Q3 2025+51.8%+33.1%+30.7%+15.6%+3.9%
Q4 2025+36.7%+21.9%+17.7%+7.5%+1.8%
Q1 2026+49.5%+26.1%+21.1%+9.6%+2.2%
Q2 2026+47.3%+27.0%+23.3%+11.0%+2.5%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$418M$21.6B$21.1B0.19
Q4 2024$388M$20.8B$20.4B0.17
Q1 2025$386M$20.1B$19.7B0.18
Q2 2025$735M$19.7B$19B0.23
Q3 2025$432M$21B$20.5B0.16
Q4 2025$825M$22.6B$21.8B0.18
Q1 2026$512M$21.8B$21.3B0.20
Q2 2026$875M$23.5B$22.6B0.21
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$46.6B$67.8B9.510.5
Q4 2024$62.1B$82.5B16.528.6
Q1 2025$55.3B$75B13.819.0
Q2 2025$85.2B$104.2B18.817.6
Q3 2025$88B$108.6B17.114.0
Q4 2025$75.6B$97.4B17.725.1
Q1 2026$74.3B$95.6B16.719.7
Q2 2026$85.4B$108.1B17.718.9

Refreshed 38m ago

Charts: revenue, profit, cash flow & valuation
Revenue$4.8BQ2 2026
$1.3B$2.6B$3.9B$5.1BQ3 2023: $4.2BQ4 2023: $3.3BQ1 2024: $3.7BQ2 2024: $4.1BQ3 2024: $4.9BQ4 2024: $3.8BQ1 2025: $4BQ2 2025: $4.5BQ3 2025: $5.1BQ4 2025: $4.3BQ1 2026: $4.5BQ2 2026: $4.8BQ3 2023Q2 2026
Net income$1.1BQ2 2026
$394.8M$789.5M$1.2B$1.6BQ3 2023: $1BQ4 2023: $277.1MQ1 2024: $360MQ2 2024: $854MQ3 2024: $1.1BQ4 2024: $552MQ1 2025: $730MQ2 2025: $1.2BQ3 2025: $1.6BQ4 2025: $754MQ1 2026: $941MQ2 2026: $1.1BQ3 2023Q2 2026
EBITDA$1.9BQ2 2026
$564.5M$1.1B$1.7B$2.3BQ3 2023: $1.7BQ4 2023: $993.5MQ1 2024: $1.2BQ2 2024: $1.5BQ3 2024: $2.1BQ4 2024: $1.2BQ1 2025: $1.4BQ2 2025: $1.9BQ3 2025: $2.3BQ4 2025: $1.4BQ1 2026: $1.7BQ2 2026: $1.9BQ3 2023Q2 2026
Free cash flow-$877MQ2 2026
-$755.8M-$59.2M$637.4M$1.3BQ3 2023: $378MQ4 2023: -$1.5BQ1 2024: $1.1BQ2 2024: -$567MQ3 2024: $563MQ4 2024: $915MQ1 2025: $1.2BQ2 2025: $910MQ3 2025: -$989MQ4 2025: $116MQ1 2026: $1.3BQ2 2026: -$877MQ3 2023Q2 2026
EPS$4.2Q2 2026
$1.44$2.87$4.31$5.74Q3 2023: $3.65Q4 2023: $1.06Q1 2024: $1.35Q2 2024: $3.11Q3 2024: $4.21Q4 2024: $2Q1 2025: $2.7Q2 2025: $4.41Q3 2025: $5.74Q4 2025: $2.76Q1 2026: $3.48Q2 2026: $4.2Q3 2023Q2 2026
Cash / Debt$875MQ2 2026
$5.9B$11.8B$17.6B$23.5BQ3 2023 · Cash: $600.1MQ3 2023 · Debt: $20.6BQ4 2023 · Cash: $497MQ4 2023 · Debt: $22.1BQ1 2024 · Cash: $437MQ1 2024 · Debt: $21.2BQ2 2024 · Cash: $391MQ2 2024 · Debt: $21.8BQ3 2024 · Cash: $418MQ3 2024 · Debt: $21.6BQ4 2024 · Cash: $388MQ4 2024 · Debt: $20.8BQ1 2025 · Cash: $386MQ1 2025 · Debt: $20.1BQ2 2025 · Cash: $735MQ2 2025 · Debt: $19.7BQ3 2025 · Cash: $432MQ3 2025 · Debt: $21BQ4 2025 · Cash: $825MQ4 2025 · Debt: $22.6BQ1 2026 · Cash: $512MQ1 2026 · Debt: $21.8BQ2 2026 · Cash: $875MQ2 2026 · Debt: $23.5BQ3 2023Q2 2026
CashDebt
Profitability+47.3%Q2 2026
+12.9%+25.9%+38.8%+51.8%Q3 2023 · Gross margin: +48.6%Q4 2023 · Gross margin: +43.3%Q1 2024 · Gross margin: +44.8%Q2 2024 · Gross margin: +47.6%Q3 2024 · Gross margin: +51.1%Q4 2024 · Gross margin: +45.4%Q1 2025 · Gross margin: +48.0%Q2 2025 · Gross margin: +49.7%Q3 2025 · Gross margin: +51.8%Q4 2025 · Gross margin: +36.7%Q1 2026 · Gross margin: +49.5%Q2 2026 · Gross margin: +47.3%Q3 2023 · Operating margin: +30.4%Q4 2023 · Operating margin: +17.1%Q1 2024 · Operating margin: +20.1%Q2 2024 · Operating margin: +26.7%Q3 2024 · Operating margin: +33.4%Q4 2024 · Operating margin: +16.6%Q1 2025 · Operating margin: +23.6%Q2 2025 · Operating margin: +29.3%Q3 2025 · Operating margin: +33.1%Q4 2025 · Operating margin: +21.9%Q1 2026 · Operating margin: +26.1%Q2 2026 · Operating margin: +27.0%Q3 2023 · Net margin: +24.3%Q4 2023 · Net margin: +8.3%Q1 2024 · Net margin: +9.7%Q2 2024 · Net margin: +20.8%Q3 2024 · Net margin: +22.7%Q4 2024 · Net margin: +14.7%Q1 2025 · Net margin: +18.3%Q2 2025 · Net margin: +26.7%Q3 2025 · Net margin: +30.7%Q4 2025 · Net margin: +17.7%Q1 2026 · Net margin: +21.1%Q2 2026 · Net margin: +23.3%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+6.5%Q2 2026
+4.4%+8.7%+13.1%+17.5%Q3 2024: +17.5%Q4 2024: +12.9%Q1 2025: +7.3%Q2 2025: +10.4%Q3 2025: +5.2%Q4 2025: +13.2%Q1 2026: +11.3%Q2 2026: +6.5%Q3 2023Q2 2026
Shares outstanding270MQ2 2026
70.5M141M211.5M282MQ3 2023: 282MQ4 2023: 280MQ1 2024: 281MQ2 2024: 281MQ3 2024: 264MQ4 2024: 277MQ1 2025: 276MQ2 2025: 275MQ3 2025: 274MQ4 2025: 273MQ1 2026: 271MQ2 2026: 270MQ3 2023Q2 2026
Valuation18.9Q2 2026
7.414.822.329.7Q3 2023 · P/E: 5.8Q4 2023 · P/E: 29.7Q1 2024 · P/E: 25.1Q2 2024 · P/E: 11.8Q3 2024 · P/E: 10.5Q4 2024 · P/E: 28.6Q1 2025 · P/E: 19.0Q2 2025 · P/E: 17.6Q3 2025 · P/E: 14.0Q4 2025 · P/E: 25.1Q1 2026 · P/E: 19.7Q2 2026 · P/E: 18.9Q3 2023 · P/S: 5.7Q4 2023 · P/S: 10.0Q1 2024 · P/S: 9.7Q2 2024 · P/S: 9.8Q3 2024 · P/S: 9.5Q4 2024 · P/S: 16.5Q1 2025 · P/S: 13.8Q2 2025 · P/S: 18.8Q3 2025 · P/S: 17.1Q4 2025 · P/S: 17.7Q1 2026 · P/S: 16.7Q2 2026 · P/S: 17.7Q3 2023Q2 2026
P/EP/S
Revenue$17.9B2025
$4.5B$9B$13.5B$17.9B2018: $9.5B2019: $11B2020: $2.2B2021: $1.5B2022: $8.8B2023: $13.9B2024: $16.5B2025: $17.9B20182025
Net income$4.3B2025
-$3.3B-$762.2M$1.8B$4.3B2018: $1.8B2019: $1.9B2020: -$5.8B2021: -$5.3B2022: -$2.2B2023: $1.7B2024: $2.9B2025: $4.3B20182025
EBITDA$6.9B2025
-$1B$1.6B$4.3B$6.9B2018: $3.2B2019: $3.6B2020: -$3.7B2021: -$2.7B2022: $615M2023: $4.6B2024: $6.1B2025: $6.9B20182025
Free cash flow$1.2B2025
-$3.8B-$1.8B$73.6M$2B2018: -$180.9M2019: $691.7M2020: -$5.7B2021: -$4.1B2022: -$2.2B2023: $580M2024: $2B2025: $1.2B20182025
EPS$15.62025
-$16.4-$5.72$4.94$15.62018: $8.562019: $8.952020: -$27.12021: -$20.92022: -$8.452023: $6.312024: $10.92025: $15.620182025
Cash / Debt$825M2025
$6B$12B$18B$24B2018 · Cash: $287.9M2018 · Debt: $10.8B2019 · Cash: $243.7M2019 · Debt: $11.7B2020 · Cash: $3.7B2020 · Debt: $20B2021 · Cash: $2.7B2021 · Debt: $21.7B2022 · Cash: $1.9B2022 · Debt: $24B2023 · Cash: $497M2023 · Debt: $22.1B2024 · Cash: $388M2024 · Debt: $20.8B2025 · Cash: $825M2025 · Debt: $22.6B20182025
CashDebt
Profitability+46.8%2025
-245.6%-147.9%-50.2%+47.5%2018 · Gross margin: +44.6%2019 · Gross margin: +44.6%2020 · Gross margin: -25.2%2021 · Gross margin: -78.8%2022 · Gross margin: +25.2%2023 · Gross margin: +44.1%2024 · Gross margin: +47.5%2025 · Gross margin: +46.8%2018 · Operating margin: +20.0%2019 · Operating margin: +19.0%2020 · Operating margin: -208.3%2021 · Operating margin: -252.6%2022 · Operating margin: -8.7%2023 · Operating margin: +20.7%2024 · Operating margin: +24.9%2025 · Operating margin: +27.4%2018 · Net margin: +19.1%2019 · Net margin: +17.2%2020 · Net margin: -262.5%2021 · Net margin: -343.3%2022 · Net margin: -24.4%2023 · Net margin: +12.2%2024 · Net margin: +17.5%2025 · Net margin: +23.8%20182025
Gross marginOperating marginNet margin
Revenue growth+8.8%2025
+59.4%+198.6%+337.8%+477.0%2019: +15.3%2020: -79.8%2021: -30.6%2022: +477.0%2023: +57.2%2024: +18.6%2025: +8.8%20182025
Shares outstanding273M2025
70.8M141.5M212.3M283M2018: 211.6M2019: 209.9M2020: 214.3M2021: 251.8M2022: 255M2023: 283M2024: 279M2025: 273M20182025
Valuation17.72025
0.97.614.321.02018 · P/E: 11.42019 · P/E: 14.92020 · P/E: -2.82021 · P/E: -3.72022 · P/E: -5.82023 · P/E: 19.52024 · P/E: 21.02025 · P/E: 17.72018 · P/S: 2.22019 · P/S: 2.62020 · P/S: 7.22021 · P/S: 12.62022 · P/S: 1.42023 · P/S: 2.42024 · P/S: 3.72025 · P/S: 4.220182025
P/EP/S

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202617.76$19.5B+9%15
FY 202720.32$20.9B+17%16
FY 202823.31$22.9B+28%5
FY 202925.64$24.9B+39%1
FY 203031.14$26.9B+50%1
Q1 20273.89$4.8B+7%8

Company events

6
2026-10-27EarningsActual - / Estimate 6.35-
2026-09-17Dividend$1.5-
2026-07-28EarningsActual 4.21 / Estimate 3.98Beat
2026-06-03Dividend$1.5-
2026-04-30EarningsActual 3.6 / Estimate 3.24Beat
2026-03-06Dividend$1.5-

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
RACE$71.5B8.538.3+22.3%1MEITUAN$58B1.0-10.0-10.1%13F$52.7B0.3-7.1-3.9%1NKE$52.5B1.116.9+6.7%8EBAY$49.7B4.122.6+18.5%13MAR$88.4B3.335.3+9.6%3CMG$42.9B3.530.7+11.4%2MELI$90.6B2.648.6+5.3%6

Analyst track record

How the analysts covering RCL have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings136358
Analysts2431
Buy / hold / sell101 / 35 / 0286 / 72 / 0
Upgrades / downgrades / initiations0 / 1 / 42 / 2 / 12
Price targets hit / missed0 / 119 (0%)103 / 211 (33%)
Avg. return after a rating (TipRanks)-27.4%+1.3%
Best / worst call-1.7% / -41.2%+162.9% / -41.2%

After buy calls on this stock: median 21-day move +3.9% vs S&P 500 +1.9% (n = 285)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Brandt MontourBarclays100% hit rate on this stock · 21 targets measuredBuytarget $340Jul 28, 2026
  2. Richard ClarkeBernstein100% hit rate on this stock · 13 targets measuredBuytarget $355Sep 14, 2026
  3. Lizzie DoveGoldman Sachs100% hit rate on this stock · 10 targets measuredBuytarget $360Jul 28, 2026

Latest ratings

DateAnalystCallTarget
Sep 14, 2026Richard ClarkeBernsteinBuyMaintained$355article ↗
Sep 9, 2026James HardimanCitiBuyMaintained$362article ↗
Aug 26, 2026Richard ClarkeBernsteinBuyMaintained$355article ↗
Aug 11, 2026Richard ClarkeBernsteinBuyMaintained$355article ↗
Aug 5, 2026Jamie RolloMorgan StanleyHoldMaintained$300article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$240$260$280$300$320$340$360$380Oct 25 · Buy 15 · Hold 4 · Sell 0Oct 25Nov 25 · Buy 15 · Hold 5 · Sell 0Dec 25 · Buy 14 · Hold 5 · Sell 0Dec 25Jan 26 · Buy 13 · Hold 5 · Sell 0Feb 26 · Buy 13 · Hold 5 · Sell 0Feb 26Mar 26 · Buy 13 · Hold 5 · Sell 0Apr 26 · Buy 12 · Hold 5 · Sell 0Apr 26May 26 · Buy 13 · Hold 5 · Sell 0Jun 26 · Buy 14 · Hold 6 · Sell 0Jun 26Jul 26 · Buy 16 · Hold 6 · Sell 0Aug 26 · Buy 15 · Hold 6 · Sell 0Aug 26Sep 26 · Buy 15 · Hold 6 · Sell 0Oct 25 · avg. target $341Nov 25 · avg. target $341Dec 25 · avg. target $334Jan 26 · avg. target $361Feb 26 · avg. target $373Mar 26 · avg. target $368Apr 26 · avg. target $348May 26 · avg. target $337Jun 26 · avg. target $336Jul 26 · avg. target $351Aug 26 · avg. target $347Sep 26 · avg. target $347Oct 25 · month-end close $287Nov 25 · month-end close $266Dec 25 · month-end close $279Jan 26 · month-end close $325Feb 26 · month-end close $311Mar 26 · month-end close $275Apr 26 · month-end close $264May 26 · month-end close $285Jun 26 · month-end close $318Jul 26 · month-end close $318Aug 26 · month-end close $269Sep 26 · month-end close $250

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 18, 2026 · 136 ratings