Royal Caribbean Group (RCL)财务
NYSE · Consumer Cyclical · Travel Services · 员工107,975人 · CEO Jason T. Liberty
- 股价
- $307.18 -1.08%
- 市值
- $822亿
- 企业价值
- $1040亿
- 最近财报
- Q3 '26 2026-10-27提交
- 下次财报
- 2027-02-04 EPS预期 $3.59
营收(TTM)$191亿+9.7% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)27.6%+1.2 百分点 对比去年同期营业利润 $52.7亿
净利润(TTM)$45.5亿+11.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)$15.1亿-25.8% 对比去年同期资本支出 $53.9亿
稀释EPS(TTM)$16.89+13.7% 对比去年同期最近4个季度之和
净现金-$223亿-9.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $822亿 EV $1040亿
- 营收
- $191亿 过去12个月
- 营收增速
- +9% FY2026年一致预期
- 净利润率
- 23.8% 净利润 / 营收,TTM
- P/E
- 18.1× 预期 17.2×(FY2026)
- P/S
- 4.3× 股价 / 营收,TTM
- EV / EBITDA
- 13.7× TTM
- 自由现金流
- $15.1亿 过去12个月
- 净利润
- $45.5亿 过去12个月
- 营收预期
- $195亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $46.7亿
- 股息
- $5.00 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收符合预期,EPS 超预期3.0%营收$55.9亿,预期$56.1亿(-0.3%);EPS $6.57,预期$6.38(+3.0%)。
- 营收增长平稳:同比8.8%Q3 '26营收$55.9亿,此前四个季度的平均值为9.1%。
- 营业利润率27.6%(TTM),较去年同期+1.2 百分点营收增长9.7%,营业利润增长14.6%。
- 税前利润的13.0%被营业外亏损吞噬税前利润$46.7亿,营业利润$52.7亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的28.2%(去年为24.5%)最近4个季度投入$53.9亿(同比+26.0%)。自由现金流$15.1亿,相当于净利润的33.2%。
- 股东回报$23.3亿 = 自由现金流的154.0%回购$15.4亿(去年为$6.55亿),股息$7.87亿,股权激励$1.33亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少2.2%Q3 '26稀释股数2.68亿,一年前为2.74亿。
- 净债务 $223亿现金 + 短期投资 $8.51亿,含租赁债务 $232亿;一年前净债务 $203亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $55.9亿 | $51.4亿 | +8.8% |
| 毛利率 | 51.5% | 51.8% | -0.2 百分点 |
| 营业利润 | $18.7亿 | $17亿 | +9.9% |
| 营业利润率 | 33.5% | 33.1% | +0.3 百分点 |
| 净利润 | $17.3亿 | $15.8亿 | +9.4% |
| 稀释EPS | $6.45 | $5.74 | +12.4% |
| 经营现金流 | $15.8亿 | $14.7亿 | +7.6% |
| 资本支出 | $6.43亿 | $24.6亿 | -73.8% |
| 自由现金流 | $9.37亿 | -$9.89亿 | +194.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $2600万 | $4400万 | -40.9% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $55.9亿 | $56.1亿 | -0.3% |
| EPS(一致预期口径) | $6.57 | $6.38 | +3.0% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Cruise Itinerary | $53亿 | +8.8% | 94.8% | $182亿 | +9.8% | |
| Other Products And Services | $2.88亿 | +8.3% | 5.2% | $9.34亿 | +9.2% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| North America | $32.2亿 | +6.3% | 60.7% | $123亿 | +9.9% | |
| Europe | $18亿 | +18.2% | 33.9% | $33.7亿 | – | |
| Asia Pacific | $1.98亿 | -6.6% | 3.7% | $17.1亿 | +4.1% | |
| Other Region | $8900万 | -19.8% | 1.7% | $8.14亿 | -7.5% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $69亿
- 资本支出
- -$53.9亿
- 股票回购
- -$15.4亿
- 股息
- -$7.87亿
- 收购
- -$1200万
- 债务净发行
- $8.78亿
- 股权激励费用
- $1.33亿
- 自由现金流
- $15.1亿
- 股东回报 / FCF
- 154.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 18.1× | 19.4× 5年中的3年 | 17.7× – 21.0× |
| EV / EBITDA | 13.7× | 23.9× 5年中的4年 | 12.0× – 56.4× |
| EV / 营收 | 5.5× | 8.6× | 3.9× – 25.0× |
| 股价 / FCF | 54.4× | 49.5× 5年中的3年 | 30.2× – 61.2× |
| 股价 / 净资产 | 7.0× | 6.1× | 3.8× – 8.0× |
| FCF收益率 | 1.8% | -6.4% | -21.2% – 3.3% |
| 投入资本回报率 | 14.5% | 4.5% | -14.2% – 14.9% |
| 净资产收益率 | 43.6% | -12.4% | -103.4% – 42.6% |
分析师
一致目标价 $346.50 (+12.8%)
区间 $298.00 – $415.00 · 评级 Buy
强烈买入0
买入29
持有19
卖出6
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $195亿 | +9.0% | $17.88 | +14.5% | 17.2× | 14 |
| FY2027 | $210亿 | +7.3% | $20.36 | +13.9% | 15.1× | 15 |
| FY2028 | $228亿 | +8.9% | $23.16 | +13.8% | 13.3× | 5 |
| FY2029 | $248亿 | +8.4% | $26.46 | +14.2% | 11.6× | 1 |
| FY2030 | $268亿 | +8.4% | $31.38 | +18.6% | 9.8× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Royal Caribbean Cruises Ltd.在近期10-Q / 10-K文件中标记的全部216项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $9.79亿 | $8.28亿 | +18.2% | $9.53亿 | $9.19亿 | +3.7% |
| Accrued Liabilities, Current | $19.8亿 | $18.5亿 | +7.4% | $20.3亿 | $16.4亿 | +23.9% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $170亿2025-12-31 | $153亿 | +10.9% | $170亿 | $153亿 | +10.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3.84亿 | -$5.28亿 | +27.3% | -$6.04亿 | -$8.02亿 | +24.7% |
| Additional Paid in Capital, Common Stock | $79.2亿 | $79.2亿 | -0.1% | $79.6亿 | $78.3亿 | +1.7% |
| Advertising Expense | – | – | – | $6.93亿 | $6.12亿 | +13.2% |
| Amortization of Debt Issuance Costs and Discounts | $200万 | $2600万 | -92.3% | $9700万 | $9800万 | -1.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | – | 0 | 0 | – |
| Assets | $448亿 | $401亿 | +11.7% | $416亿 | $371亿 | +12.3% |
| Assets, Current | $24.7亿 | $18.9亿 | +31.1% | $22.1亿 | $17.1亿 | +29.7% |
| Capital Expenditures Incurred but Not yet Paid | -$1.11亿 | $2200万 | -604.5% | $7200万 | $4700万 | +53.2% |
| Cash and Cash Equivalents, at Carrying Value | $8.51亿 | $4.32亿 | +97.0% | $8.25亿 | $3.88亿 | +112.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $8.51亿 | $4.32亿 | +97.0% | $8.25亿 | $3.88亿 | +112.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2400万 | -$3.03亿 | +92.1% | $4.37亿 | -$1.09亿 | +500.9% |
| Common Stock, Dividends, Per Share, Cash Paid | – | – | – | $0.002023-12-31 | – | – |
| Common Stock, Dividends, Per Share, Declared | $1.50 | $1.00 | +50.0% | $3.50 | $0.95 | +268.4% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 5亿 | 5亿 | 0.0% | 5亿 | 5亿 | 0.0% |
| Common Stock, Shares, Issued | 3.04亿 | 3.03亿 | +0.3% | 3.03亿 | 2.97亿 | +1.9% |
| Common Stock, Value, Issued | $300万 | $300万 | 0.0% | $300万 | $300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $700万 | $400万 | +75.0% | $2300万 | $1800万 | +27.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $18.6亿 | $15.7亿 | +18.8% | $44.7亿 | $27.5亿 | +62.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $18.7亿 | $15.7亿 | +19.0% | $44.9亿 | $27.7亿 | +62.2% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $2.41亿 | $1.84亿 | +31.0% | $1.87亿 | $1.61亿 | +16.1% |
| Contract with Customer, Liability | $30亿 | $28亿 | +7.1% | $31亿 | $28亿 | +10.7% |
| Contract with Customer, Liability, Current | $60.3亿 | $56亿 | +7.7% | $57.4亿 | $55亿 | +4.4% |
| Cost of Goods and Services Sold | $27.1亿 | $24.8亿 | +9.4% | $90.8亿 | $86.5亿 | +5.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $6400万 | – | – |
| Debt, Current | $22.4亿 | $30.7亿 | -27.2% | $31.8亿 | $16亿 | +98.4% |
| Debt, Long-term and Short-term, Combined Amount | $224亿 | $203亿 | +10.2% | $213亿 | $201亿 | +6.3% |
| Debt, Weighted Average Interest Rate | 4.7% | 4.7% | +1.3% | 4.7% | 4.8% | -1.5% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $1800万 | – | – |
| Deferred Other Tax Expense (Benefit) | -$300万 | $1100万 | -127.3% | $1800万 | $0 | – |
| Deferred Tax Assets, Gross | $5300万2025-12-31 | $6300万 | -15.9% | $5300万 | $6300万 | -15.9% |
| Deferred Tax Assets, Operating Loss Carryforwards | $2500万2025-12-31 | $3200万 | -21.9% | $2500万 | $3200万 | -21.9% |
| Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $900万2025-12-31 | $500万 | +80.0% | $900万 | $500万 | +80.0% |
| Deferred Tax Assets, Tax Credit Carryforwards | $1500万2025-12-31 | $1900万 | -21.1% | $1500万 | $1900万 | -21.1% |
| Deferred Tax Assets, Valuation Allowance | $2500万2025-12-31 | $2100万 | +19.0% | $2500万 | $2100万 | +19.0% |
| Deferred Tax Liabilities, Gross | $1.53亿2025-12-31 | – | – | $1.53亿 | – | – |
| Defined Contribution Plan, Cost | – | – | – | $2500万 | $2300万 | +8.7% |
| Depreciation, Depletion and Amortization, Nonproduction | $4.9亿 | $4.35亿 | +12.6% | $17.2亿 | $16亿 | +7.4% |
| Derivative Asset | – | – | – | $2.04亿2022-12-31 | $6980万 | +191.9% |
| Derivative Asset, Current | $1.6亿 | $1.78亿 | -10.1% | $1.15亿 | $1100万 | +945.5% |
| Derivative Asset, Fair Value, Gross Asset | $2.89亿 | $2.12亿 | +36.3% | $1.44亿 | $7100万 | +102.8% |
| Derivative Asset, Fair Value, Gross Liability | $6800万 | $4600万 | +47.8% | $5900万 | $5200万 | +13.5% |
| Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $400万 | -$1000万 | +140.0% | $5100万 | -$7700万 | +166.2% |
| Derivative Liability | – | – | – | $1.36亿2022-12-31 | $2.01亿 | -32.4% |
| Derivative Liability, Current | $1.07亿 | $3100万 | +245.2% | $6700万 | $9000万 | -25.6% |
| Derivative Liability, Fair Value, Gross Asset | $6800万 | $4600万 | +47.8% | $5900万 | $5200万 | +13.5% |
| Derivative Liability, Fair Value, Gross Liability | $1.78亿 | $6400万 | +178.1% | $1.24亿 | $1.39亿 | -10.8% |
| Derivative, Collateral, Obligation to Return Cash | $0 | $0 | – | $0 | $0 | – |
| Derivative, Collateral, Right to Reclaim Cash | $0 | $0 | – | $0 | $0 | – |
| DerivativeAssetFairValueAfterOffsetAndDeductionSubjectToMasterNettingArrangement | $2.21亿 | $1.66亿 | +33.1% | $8500万 | $1900万 | +347.4% |
| DerivativeLiabilityFairValueAfterOffsetAndDeductionSubjectToMasterNettingArrangement | $1.1亿 | $1800万 | +511.1% | $6500万 | $8700万 | -25.3% |
| Dividends, Common Stock, Cash | $4.03亿 | $2.76亿 | +46.0% | $9.55亿 | $2.55亿 | +274.5% |
| Earnings Per Share, Basic | $6.46 | $5.79 | +11.6% | $15.75 | $11.00 | +43.2% |
| Earnings Per Share, Diluted | $6.45 | $5.74 | +12.4% | $15.61 | $10.94 | +42.7% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $0 | $0 | – | $200万 | -$600万 | +133.3% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $9.9亿 | – | – |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 25.0% | – | – |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01