Royal Caribbean Cruises Ltd. (RCL)
NYSE: RCL · Real-Time Price · USD
279.73
+5.42 (1.98%)
Oct 15, 2026, 1:42 PM EDT - Market open
Royal Caribbean Cruises Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 4,398 | 4,268 | 2,877 | 1,697 | -2,156 | -5,260 |
Depreciation & Amortization | 1,814 | 1,718 | 1,600 | 1,455 | 1,407 | 1,293 |
Other Amortization | 65 | 97 | 98 | 109 | 163 | 249 |
Loss (Gain) on Equity Investments | -146 | -150 | -231 | -189 | -57 | 135 |
Stock-Based Compensation | 151 | 175 | 267 | 126 | 36 | 64 |
Other Operating Activities | 210 | -26 | 450 | 108 | 115 | 161 |
Change in Accounts Receivable | -90 | -3 | 52 | 99 | -234 | -182 |
Change in Inventory | -20 | - | -17 | -24 | -74 | -35 |
Change in Accounts Payable | 9 | 27 | 120 | 124 | 75 | 189 |
Change in Other Net Operating Assets | 395 | 359 | 49 | 972 | 1,206 | 1,508 |
Operating Cash Flow | 6,786 | 6,465 | 5,265 | 4,477 | 481 | -1,878 |
Operating Cash Flow Growth | 18.29% | 22.79% | 17.60% | 830.77% | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -7,202 | -5,229 | -3,268 | -3,897 | -2,710 | -2,230 |
Sale of Property, Plant & Equipment | - | - | - | - | - | 176 |
Investment in Securities | -72 | -106 | -67 | -31 | - | -70 |
Other Investing Activities | 206 | 323 | -111 | 5 | -277 | -21 |
Investing Cash Flow | -7,068 | -5,012 | -3,446 | -3,923 | -2,987 | -2,145 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 4,671 | 10,318 | 7,641 | 9,787 | 4,468 |
Total Debt Issued | 9,657 | 4,671 | 10,318 | 7,641 | 9,787 | 4,468 |
Short-Term Debt Repaid | - | - | - | - | - | -415 |
Long-Term Debt Repaid | - | -3,534 | -11,651 | -9,566 | -7,729 | -2,297 |
Total Debt Repaid | -5,782 | -3,534 | -11,651 | -9,566 | -7,729 | -2,712 |
Net Debt Issued (Repaid) | 3,875 | 1,137 | -1,333 | -1,925 | 2,058 | 1,756 |
Issuance of Common Stock | - | - | - | - | - | 1,622 |
Repurchase of Common Stock | -2,082 | -1,159 | - | - | - | - |
Common Dividends Paid | -1,150 | -824 | -107 | - | - | - |
Other Financing Activities | -215 | -172 | -482 | -68 | -317 | -337 |
Financing Cash Flow | 428 | -1,018 | -1,922 | -1,993 | 1,741 | 3,041 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -6 | 2 | -6 | 1 | -2 | - |
Net Cash Flow | 140 | 437 | -109 | -1,438 | -767 | -982 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | -416 | 1,236 | 1,997 | 580 | -2,229 | -4,108 |
Free Cash Flow Growth | - | -38.11% | 244.31% | - | - | - |
Free Cash Flow Margin | -2.23% | 6.89% | 12.12% | 4.17% | -25.21% | -268.15% |
Free Cash Flow Per Share | -1.53 | 4.51 | 7.16 | 2.05 | -8.74 | -16.30 |
Levered Free Cash Flow | -1,516 | -197.63 | 1,072 | -11.88 | -1,316 | -2,204 |
Unlevered Free Cash Flow | -960 | 315.38 | 1,679 | 679.75 | -684.86 | -1,645 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 852 | 864 | 1,210 | 1,442 | 960 | 834 |
Change in Working Capital | 294 | 383 | 204 | 1,171 | 973 | 1,480 |