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Stock research / United States / RCL · Water Transportation · NYSE

Royal Caribbean Cruises Ltd. (RCL)

Royal Caribbean Cruises owns and operates cruise brands and, increasingly, the private beach destinations its ships call at. Three brands are its own: Royal Caribbean, Celebrity Cruises and Silversea. It also holds a 50 percent interest in a joint venture, TUI Cruises GmbH, which runs the German brands TUI Cruises and Hapag-Lloyd Cruises and is accounted for by the equity method. Between them the owned and partner brands ran 69 ships with capacity of approximately 179,720 berths at the end of 2025, on itineraries calling at more than 1,000 destinations across all seven continents. The business was founded in 1968 as a partnership; the present parent company was incorporated on 23 July 1985 in Liberia.

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises owns and operates cruise brands and, increasingly, the private beach destinations its ships call at. Three brands are its own: Royal Caribbean, Celebrity Cruises and Silversea. It also holds a 50 percent interest in a joint venture, TUI Cruises GmbH, which runs the German brands TUI Cruises and Hapag-Lloyd Cruises and is accounted for by the equity method. Between them the owned and partner brands ran 69 ships with capacity of approximately 179,720 berths at the end of 2025, on itineraries calling at more than 1,000 destinations across all seven continents. The business was founded in 1968 as a partnership; the present parent company was incorporated on 23 July 1985 in Liberia.

Royal Caribbean

The largest brand, competing in both the contemporary family market and the premium segment. It operates 29 ships with capacity of approximately 111,000 berths, on itineraries from three to 14 nights covering Alaska, Asia, Australia, the Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal and New Zealand. Four ships were on order at the end of 2025, with capacity of approximately 22,500 berths: the third Icon-class ship, Legend of the Seas, for delivery in 2026, the fourth and fifth Icon-class ships for 2027 and 2028, and the seventh Oasis-class ship for 2028. A memorandum of understanding covers two ships of a new Discovery-class generation, expected to enter service in 2029 and 2032. The brand runs three exclusive private destinations under the Perfect Day and Royal Beach Club collections, with a stated plan to reach seven by 2028.

Celebrity Cruises

Positioned in the premium segment, with 15 ships and capacity of approximately 38,900 berths, on itineraries of three to 18 nights to Alaska, Asia, Australia, Bermuda, Canada, the Caribbean, Europe, the Galapagos Islands, Hawaii, New Zealand, the Panama Canal and South America. One Edge-class ship, Celebrity Xcite, was on order for 2028 with capacity of approximately 3,250 berths. In 2025 the company launched Celebrity River Cruises with an initial commitment for 10 ships, and in January 2026 entered commitments for 10 more, taking the planned river fleet to 20 vessels. The first four river ships carry approximately 680 berths between them and include Celebrity Compass and Celebrity Seeker, both for delivery in 2027, with two more in 2028.

Silversea

The ultra luxury and expedition brand: smaller ships, 12 of them, with capacity of approximately 5,500 berths, running itineraries of six to 24 nights to remote places including the Galapagos Islands, Antarctica and the Arctic.

The partner brands

TUI Cruises operates eight ships with capacity of approximately 22,700 berths and had three on order at the end of 2025, approximately 12,300 berths, for delivery in 2026, 2031 and 2032. Hapag-Lloyd Cruises operates two luxury liners and three smaller expedition ships, approximately 1,620 berths in total.

Where the money comes from

Passenger tickets accounted for approximately 70 percent of the total in 2025, as in 2024 and 2023, and onboard and other sources for approximately 30 percent. Alongside the cruise itself the company sells pre- and post-cruise hotel and tour packages to guests of all three owned brands, and vacation protection cover in selected markets for trip cancellation, medical costs and baggage. It also earns from operating certain port facilities and from management services.

Technology and the bonds it has to post

The whole fleet is fitted with Starlink under a partnership with SpaceX, and the private islands carry the same connectivity, letting guests use WiFi and charge food, drink and activities ashore as they would on board. Data analytics and artificial intelligence are being used in revenue management and in planning maintenance. In several jurisdictions the company has to prove it can meet its obligations to guests: in the United Kingdom the Association of British Travel Agents requires performance bonds of up to £179 million during peak season and the Civil Aviation Authority a further £25 million, and bonds are held with the Norwegian Travel Guarantee Fund covering Norway, Finland, Iceland and the Baltics.

From Royal Caribbean's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Royal Caribbean Cruises became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 27 October 2026
Revenue
$5.6 billion
+8.8% on the year · +15.7% on the quarter
Q4 FY2024Q3 FY2026
Net income
$1.7 billion
+9.7% on the year · +53.2% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$6.45
+12.4% on the year · +53.6% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 11 February 2026
Revenue
$17.9 billion
+8.8% on the year
FY2018FY2025
Net income
$4.3 billion
+48.3% on the year
FY2018FY2025
Diluted EPS
$15.61
+42.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsRoyal Caribbean Cruises (RCL) reported revenue of $17.9 billion for fiscal 2025, the year ended 31 December 2025, up 8.8% on the year before. Net income was $4.3 billion and diluted earnings per share $15.61. Revenue was $16.5 billion in fiscal 2024, $13.9 billion in fiscal 2023, $8.8 billion in fiscal 2022 and $1.5 billion in fiscal 2021. Net income in the same years was $2.9 billion, $1.7 billion, a loss of $2.2 billion and a loss of $5.3 billion. Over the twelve months to 30 September 2026, Royal Caribbean Cruises reported revenue of $19.1 billion and net income of $4.5 billion. Revenue grew 52.0% a year, compounded, over the five years to fiscal 2025. Royal Caribbean Cruises declared $5.50 a share in dividends over the last four quarters and had 267 million shares outstanding at the latest filed count. At 30 September 2026 it carried $22.4 billion of debt and $851 million of cash. At the close of 6 November 2026 the market cap of Royal Caribbean Cruises was $87.5 billion, 19.4 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE38.8%
ROCE15.5%
Operating margin27.6%
Net margin23.8%
FCF margin7.9%
Interest cover4.9x
Debt to equity1.91x
Cash conversion1.52x
Share count, last 12 months-1.9%
Sales CAGR, 3 years26.6%
Profit CAGR, 3 yearsn/a
EPS, TTM$16.89

At the close of 6 November 2026

Price$327.13
Market cap$87.5 billion
Stock P/E19.4x
Price to book7.5x
EV / EBITDA15.3x
Dividend yield1.7%
Market cap / sales4.6x
52-week high$348.03
52-week low$230.30
Price, 1 year29.0%
Price CAGR, 3 years52.1%
Price CAGR, 5 years27.6%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the total debt Royal Caribbean Cruises Ltd. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
RCLgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022 †Q3 FY2022 †Q4 FY2022 *Q1 FY2023 †Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue9821,0592,1842,9932,6042,8853,5234,1603,3313,7284,1104,8863,7603,9994,5385,1394,2594,4524,8325,591
Cost of revenue1,1361,1851,6801,9661,7821,7931,9552,1371,8902,0562,1522,3912,0532,0792,2832,4792,2422,2472,5472,711
Gross profit-153-1265041,0278221,0921,5682,0241,4411,6721,9582,4951,7071,9202,2552,6602,0172,2052,2852,880
Gross margin-16%-12%23%34%32%38%45%49%43%45%48%51%45%48%50%52%47%50%47%52%
SG&A503394371373444461435393503535466451673562508522631582513519
Operating income-1,032-859-21929815.52727721,2655707501,0991,6346239451,3291,7029341,1621,3071,871
Operating margin-105%-81%-10%10%1%9%22%30%17%20%27%33%17%24%29%33%22%26%27%33%
Interest expense284278303352432359356341346424298603265249228248267278236291
Pre-tax incomen/an/an/an/an/an/an/an/an/an/an/an/an/a7511,2321,6127789761,1501,762
Tax raten/an/an/an/an/an/an/an/an/an/an/an/an/a2%1%2%2%3%1%2%
Net income-1,357-1,167-52233.0-500-47.94591,0092773608541,1115527301,2101,5757539411,1281,728
Net margin-138%-110%-24%1%-19%-2%13%24%8%10%21%23%15%18%27%31%18%21%23%31%
Diluted EPS-$5.35-$4.58-$2.05$0.13-$1.96-$0.19$1.70$3.65$1.06$1.35$3.11$4.21$2.02$2.70$4.41$5.74$2.76$3.48$4.20$6.45
Operating cash flow-205-529479-44.55771,3101,3916601,1161,3281,5738971,4671,6271,7461,4691,6231,8341,8601,580
Capital expenditure5751,3639552261672527962802,5682422,1403345524288362,4581,5075002,737643
Free cash flow-780-1,892-476-2704101,058595379-1,4521,086-5675639151,199910-9891161,334-877937
Buybacksn/an/an/an/an/an/an/an/an/a0.00.00.00.02410.04145048361990.0
Dividends paid0.00.00.00.00.00.00.00.00.00.00.00.0107148200204272270404401
Shares outstanding255m255m255m255m255m256m256m256m257m257m257m269m269m272m272m273m271m268m267m267m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008FY2009 †FY2010 †FY2011 †FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Revenue6,5335,8906,7537,5377,6887,9608,0748,2998,4968,7789,49410,9512,2091,5328,84113,90016,48417,93519,134
Cost of revenue4,4044,0714,4584,9435,1575,3055,3065,0995,0164,8975,2626,0632,7652,7396,6147,7758,6529,0839,747
Gross profit2,1291,8192,2942,5952,5312,6552,7683,2003,4813,8814,2324,888-556-1,2072,2266,1257,8328,8529,387
Gross margin32.6%30.9%34.0%34.4%32.9%33.3%34.3%38.6%41.0%44.2%44.6%44.6%-25.2%-78.8%25.2%44.1%47.5%49.4%49.1%
Selling, general and administrative7777628489611,0121,0451,0491,0871,1091,1861,3031,5591,2001,3701,5831,7922,1252,2232,245
Operating income8324898039324037989428751,4771,7441,8952,083-4,602-3,870-7662,8784,1064,9105,274
Operating margin12.7%8.3%11.9%12.4%5.2%10.0%11.7%10.5%17.4%19.9%20.0%19.0%-208.3%-252.6%-8.7%20.7%24.9%27.4%27.6%
Interest expense3273103713823563322582783073003344098441,2921,3641,4021,5909921,072
Pre-tax incomen/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,7112,9414,3734,666
Income taxn/a5.120.320.755.5n/an/an/an/an/an/an/an/a-45.04.06.046.082.082.0
Effective tax raten/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.4%1.6%1.9%1.8%
Net income57415251660718.34747646661,2831,6251,8111,879-5,797-5,260-2,1561,6972,8774,2684,550
Net margin8.8%2.6%7.6%8.1%0.2%6.0%9.5%8.0%15.1%18.5%19.1%17.2%-262.5%-343.3%-24.4%12.2%17.5%23.8%23.8%
Diluted EPS$2.68$0.71$2.37$2.77$0.08$2.14$3.43$3.02$5.93$7.53$8.56$8.95-$27.05-$20.89-$8.45$6.31$10.94$15.61$16.89
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Passenger ticket revenues6,1496,3136,7937,8571,5059415,7939,56811,49912,51569.8%
Onboard and other revenues2,3472,4652,7013,0947045913,0474,3324,9865,41930.2%
Passenger ticket revenuesOnboard and other revenues
8.8FY201711.0FY20191.5FY202113.9FY202317.9FY2025

$ billion; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2008FY2009 †FY2010 †FY2011 †FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Operating cash flow1,0718451,6631,4561,3821,4121,7441,9462,5172,8753,4793,716-3,732-1,8784824,4775,2656,4656,897
Capital expenditure2,2242,4782,1871,1741,2917641,8111,6132,4945643,6603,0251,9652,2302,7103,8973,2685,2295,387
Free cash flow-1,152-1,633-52428290.2648-67.633322.32,310-181692-5,697-4,108-2,2285801,9971,2361,510
Free cash flow margin-17.6%-27.7%-7.8%3.7%1.2%8.1%-0.8%4.0%0.3%26.3%-1.9%6.3%-257.9%-268.1%-25.2%4.2%12.1%6.9%7.9%
Cash from investing-1,977-2,274-2,288-925-1,263-825-1,770-1,743-2,725-214-4,489-3,091-2,179-2,145-2,988-3,923-3,446-5,012-5,311
Cash from financing1,0831,312757-677-180-57717.5-254244-2,6761,198-6709,3503,0411,741-1,993-1,922-1,018-1,161
Depreciation and amortisation5205686447027307557728278959511,0341,2461,2791,2931,4071,4551,6001,7181,869
Share-based compensationn/a16.828.123.824.221.226.136.132.769.546.175.939.864.036.0126267175133
Buybacksn/an/an/an/a0.00.023620030022557599.60.00.0n/a0.00.01,1591,539
Dividends paid1280.00.021.71181441992803464375276033260.00.00.01078241,347
Dividend per sharen/an/an/an/a$0.12n/an/an/a$1.71$2.16$2.60$2.96$0.78n/a$0.00$0.00$0.95$3.50$5.50
Diluted shares, weightedn/a215m218m219m219m221m223m221m216m216m212m210m214m252m255m283m279m274m268m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a267m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008FY2009 †FY2010 †FY2011 †FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Funded by
Shareholders' equity6,8037,5007,9018,4088,3098,8088,2848,0639,12110,70211,10512,1648,7615,0862,8694,7247,56310,03711,713
Non-controlling interestn/an/an/an/an/an/an/an/an/an/an/an/a0.3n/a0.0175172208200
Redeemable equityn/an/an/an/an/an/an/an/an/a0.05425700.0n/an/an/an/an/an/a
Debtn/a8,4209,1508,4968,4908,0758,4448,5279,3877,53910,77811,03519,32921,09023,39121,45220,07621,34522,355
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a602564535523613670600744
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a197162421317343110155n/a
Other liabilitiesn/a2,3142,6032,9013,0293,1903,9854,1923,8014,1195,2735,7533,6505,1276,6767,8248,4799,2749,801
Total liabilities and equityn/a18,23319,65419,80419,82820,07320,71320,78222,31022,36127,69830,32032,46532,25833,77635,13137,07041,61944,813
Owned
Fixed assetsn/a15,26816,76916,93517,45117,51818,19418,77820,16119,73523,46625,46725,24725,90827,54630,11431,83135,696n/a
Goodwilln/a7927597474334392872872882891,3781,386809809809809808808808
Intangible assetsn/an/an/an/an/an/a0.00.0n/an/a502489445435426418404390n/a
Cash and equivalents4032854202621952051891221331202882443,6842,7021,935497388825851
Receivablesn/a339267292281260261239292319325306284408531405371317409
Inventoryn/a108127145146151123121114111154162119150224248265264304
Other assetsn/a1,4421,3121,4241,3211,5001,6581,2361,3221,7871,5862,2681,8771,8462,3042,6403,0033,31942,441
Total assetsn/a18,23319,65419,80419,82820,07320,71320,78222,31022,36127,69830,32032,46532,25833,77635,13137,07041,61944,813
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded8.0%52.0%26.6%9.7%
Profit growth, compounded20.4%n/an/a11.9%
Return on equity, average-6.7%-12.4%38.8%42.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Royal Caribbean Cruises' revenue in fiscal 2025?

Royal Caribbean Cruises (RCL) reported revenue of $17.9 billion for fiscal 2025, the year ended 31 December 2025, up 8.8% on the year before.

How much did Royal Caribbean Cruises earn in fiscal 2025?

Net income was $4.3 billion for fiscal 2025, and diluted earnings per share $15.61.

What is Royal Caribbean Cruises' P/E ratio?

At the close of 6 November 2026, Royal Caribbean Cruises traded at 19.4 times its earnings over the twelve months to 30 September 2026.

What is Royal Caribbean Cruises' market cap?

The market cap of Royal Caribbean Cruises was $87.5 billion at the close of 6 November 2026.

Does Royal Caribbean Cruises pay a dividend?

Yes. Royal Caribbean Cruises declared $5.50 a share in dividends over the four quarters to 30 September 2026.

Peers: Transportation

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Enbridge Inc. ENB$104.5 billion16.2810.0%12.2%40.0%1.568.0%
United Parcel Service Inc. UPS$92.3 billion20.8329.5%7.1%2.1%1.746.1%
CSX Corp. CSX$90.5 billion25.4424.9%36.4%5.8%1.311.1%
Royal Caribbean Cruises Ltd. RCL$87.5 billion19.3738.8%27.6%9.7%1.911.7%
Canadian Pacific Kansas City Ltd. CP$80.1 billion21.288.4%36.4%6.5%0.491.1%
FedEx Corp. FDX$72.2 billionn/an/an/an/a0.501.8%
Carnival Corp. Ltd. CCL$39.8 billion12.9222.1%16.0%5.2%1.73n/a
Norwegian Cruise Line Holdings Ltd. NCLH$8.2 billion9.8926.5%13.8%4.9%4.79n/a
Kirby Corp. KEX$6.3 billion17.4410.9%14.2%8.5%0.31n/a
Matson, Inc. MATX$6.3 billion11.9918.4%16.8%9.2%0.110.7%
International Seaways, Inc. INSW$4.9 billion4.6444.5%69.9%100.5%0.303.0%
Tidewater Inc. TDW$3.5 billion14.1817.7%18.4%-1.0%0.47n/a
All 68 in Transportation
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Union Pacific Corp. UNP$172.5 billion22.6234.6%40.1%7.4%1.381.9%
Booking Holdings Inc. BKNG$119.5 billion17.37n/a32.8%8.0%n/a0.2%
Enbridge Inc. ENB$104.5 billion16.2810.0%12.2%40.0%1.568.0%
United Parcel Service Inc. UPS$92.3 billion20.8329.5%7.1%2.1%1.746.1%
CSX Corp. CSX$90.5 billion25.4424.9%36.4%5.8%1.311.1%
Royal Caribbean Cruises Ltd. RCL$87.5 billion19.3738.8%27.6%9.7%1.911.7%
Canadian Pacific Kansas City Ltd. CP$80.1 billion21.288.4%36.4%6.5%0.491.1%
FedEx Corp. FDX$72.2 billionn/an/an/an/a0.501.8%
Norfolk Southern Corp. NSC$71.9 billion26.8216.0%31.5%6.0%0.991.7%
Delta Air Lines, Inc. DAL$57.4 billion17.4014.6%7.4%14.1%0.620.8%
Mplx LP MPLX$56.6 billion13.06n/a42.0%3.1%n/an/a
Carnival Corp. Ltd. CCL$39.8 billion12.9222.1%16.0%5.2%1.73n/a
United Airlines Holdings, Inc. UAL$36.6 billion10.3220.1%7.5%12.3%1.49n/a
Old Dominion Freight Line, Inc. ODFL$34.1 billion29.6724.9%26.6%3.8%0.000.7%
Expedia Group, Inc. EXPE$29.3 billion15.13127.5%17.2%12.9%3.310.7%
Expeditors International of Washington Inc. EXPD$23.9 billion23.4344.5%10.1%18.6%0.000.8%
Southwest Airlines Co. LUV$21.8 billion21.3714.4%4.4%14.5%0.801.6%
Xpo, Inc. XPO$20.7 billion41.7425.5%9.9%9.5%1.58n/a
J.B. Hunt Transport Services, Inc. JBHT$20.3 billion30.5618.6%7.2%10.6%0.310.8%
Plains ALL American Pipeline LP PAA$16.9 billionn/an/a3.1%12.2%n/an/a
HF Sinclair Corp. DINO$16.7 billion4.9330.1%13.5%29.5%0.242.1%
ZTO Express (Cayman) Inc. ZTO *$16.4 billion12.3713.7%21.3%10.9%n/a3.2%
C. H. Robinson Worldwide, Inc. CHRW$14.5 billion22.5042.3%4.9%10.4%1.182.0%
Knight-Swift Transportation Holdings Inc. KNX$9.5 billion62.832.2%4.2%7.0%0.261.3%
Saia Inc. SAIA$8.9 billion31.4710.0%10.7%9.3%0.04n/a
American Airlines Group Inc. AAL$8.7 billionn/an/a1.6%12.3%n/an/a
Norwegian Cruise Line Holdings Ltd. NCLH$8.2 billion9.8926.5%13.8%4.9%4.79n/a
Gatx Corp. GATX$6.4 billion16.9714.0%29.9%29.7%4.291.4%
Kirby Corp. KEX$6.3 billion17.4410.9%14.2%8.5%0.31n/a
Matson, Inc. MATX$6.3 billion11.9918.4%16.8%9.2%0.110.7%
GXO Logistics, Inc. GXO$6.2 billion46.804.5%2.2%7.1%0.94n/a
Plains GP Holdings LP PAGP$5.1 billionn/an/a3.1%12.2%n/an/a
Schneider National, Inc. SNDR$4.9 billion34.354.6%3.4%6.0%0.131.4%
International Seaways, Inc. INSW$4.9 billion4.6444.5%69.9%100.5%0.303.0%
Landstar System Inc. LSTR$4.8 billion30.3619.3%4.1%10.7%0.002.5%
Rxo, Inc. RXO$4.6 billionn/a-5.8%-0.8%10.1%0.33n/a
Brinks Co. BCO$4.5 billion28.9253.2%10.0%7.3%13.880.9%
Alaska Air Group, Inc. ALK$4.3 billionn/a-11.2%-1.9%8.2%1.74n/a
Tidewater Inc. TDW$3.5 billion14.1817.7%18.4%-1.0%0.47n/a
Skywest Inc. SKYW$3.0 billion7.6814.7%13.9%7.0%0.84n/a
Delek Logistics Partners, LP DKL$3.0 billion18.06n/a14.6%35.5%n/an/a
Arcbest Corp. ARCB$2.8 billion100.712.2%1.1%8.1%0.150.4%
Allegiant Travel Co. ALGT$2.5 billion28.203.1%5.5%27.8%1.660.0%
Lindblad Expeditions Holdings, Inc. LIND$2.2 billionn/an/a7.5%16.7%n/an/a
Dorian LPG Ltd. LPG$2.0 billion4.1434.0%72.3%87.1%0.347.2%
Frontier Group Holdings, Inc. ULCC$1.7 billionn/a-1,116.2%-9.5%24.0%13.14n/a
Werner Enterprises Inc. WERN$1.6 billionn/a-3.4%-0.9%9.6%0.582.1%
Genesis Energy LP GEL$1.6 billion67.63n/a18.3%-2.4%n/an/a
JetBlue Airways Corp. JBLU$1.4 billionn/a-74.8%-6.1%9.9%6.28n/a
Genco Shipping & Trading Ltd. GNK$1.1 billion14.618.9%19.2%54.7%0.416.9%
Bristow Group Inc. VTOL$1.1 billion13.957.3%9.5%10.1%0.68n/a
Marten Transport Ltd. MRTN$958 million65.171.7%1.9%-4.8%0.002.0%
Covenant Logistics Group, Inc. CVLG$802 million197.381.3%0.3%12.5%0.670.9%
Heartland Express Inc. HTLD$780 millionn/a-1.7%-1.0%-17.2%0.130.8%
Universal Logistics Holdings, Inc. ULH$715 millionn/an/an/an/a1.231.5%
GMR Solutions Inc. GMRS$671 millionn/an/an/an/a5.60n/a
Forward Air Corp. FWRD$562 millionn/an/a-6.7%-0.1%n/a0.0%
Strata Critical Medical, Inc. SRTA$496 millionn/a-9.0%-6.6%52.0%0.00n/a
Pangaea Logistics Solutions Ltd. PANL$496 million6.5815.3%12.2%27.8%0.480.7%
Radiant Logistics, Inc. RLGT$416 million22.747.8%2.6%3.5%0.10n/a
Ftai Infrastructure Inc. FIP$410 millionn/an/a-2.9%67.7%n/a3.5%
Virgin Galactic Holdings, Inc. SPCE$390 millionn/a-62.5%-24,804.5%-38.9%0.55n/a
Verra Mobility Corp. VRRM$332 million9.1014.3%12.7%6.5%3.90n/a
Pamt Corp. PAMT$295 millionn/a-23.0%-8.8%-2.1%1.66n/a
Seacor Marine Holdings Inc. SMHI$238 millionn/a-15.0%1.5%-15.0%1.28n/a
Wheels Up Experience Inc. UP$102 millionn/an/a-26.3%-7.6%n/an/a
Proficient Auto Logistics, Inc. PAL$85 millionn/an/an/an/a0.23n/a
T. Air Inc. AIRT$75 million1.1797.9%-6.6%25.4%3.78n/a
6 companies share its SEC industry code (Water Transportation); the rest are the names nearest in size in its wider industry, Transportation, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on RCL

Dividends$5.50 a share over the four quarters to 30 September 2026, a 1.68% yield
Filings20 in twelve months: 13 current reports (8-K), about 4 results of operations; 4 material agreement; 3 regulation FD disclosure; 2 new financial obligation; 2 officer or director change
Planned insider sales13 Form 144 notices in twelve months, $887.6 million; latest 4 November 2026
Options tapeput/call 1.12 by open interest at the 6 November 2026 close; the straddle prices a 4.8% move to 13 November 2026
13F holders1,239 funds reported a position for the quarter to 30 June 2026; largest Capital Research Global Investors
Insider trading149 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest12.2 million shares short, 5.64 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202627 October 2026EDGAR
10-Q30 June 202628 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202511 February 2026EDGAR
10-Q30 September 202528 October 2025EDGAR
10-Q30 June 202529 July 2025EDGAR
10-Q31 March 202529 April 2025EDGAR
10-K31 December 202414 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR

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