Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026)
Royal Caribbean Cruises (RCL) posted EBITDA Margin of 36.65% for Q2 2026, down 1.82 percentage points from 38.48% a year earlier but up 0.20 percentage points from the prior quarter.
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Analysis
Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EBITDA Margin at Royal Caribbean Cruises was 37.02%, up 1.05 percentage points year-over-year; for FY2025, it came in at 36.96%, up 2.34 percentage points from FY2024.
- Annual EBITDA Margin has increased for four consecutive years, with a five-year change of +187.37 percentage points (FY2020 to FY2025).
- In prior years, Royal Caribbean Cruises' EBITDA Margin was 34.62% in FY2024 (+3.44 pp), 31.17% in FY2023 (+23.92 pp), 7.25% in FY2022 (+175.46 pp) and -168.21% in FY2021 (-17.80 pp).
- Quarterly EBITDA Margin has run from a low of -148.79% in Q3 2021 to a high of 41.83% in Q3 2024 over five years.
- On a year-over-year basis, EBITDA Margin increased in five of the last eight quarters, with an average year-over-year change of +1.64 percentage points.
- The strongest year-over-year quarter for EBITDA Margin in the past five years was Q4 2021, with a gain of 1975.11 percentage points; the weakest was Q2 2026, with a drop of 1.82 percentage points.
- According to Business Quant data, EBITDA Margin for the three prior quarters was 36.46% (Q1 2026), 32.54% (Q4 2025) and 41.58% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 103.13 Bn | 101.17 Bn | 1.55 Bn | 20.52% |
| 2 | Hilton Worldwide Holdings | 78.47 Bn | 74.92 Bn | 3.08 Bn | 27.66% |
| 3 | Royal Caribbean Cruises | 75.63 Bn | 72.99 Bn | 2.29 Bn | 35.84% |
| 4 | Viking Holdings | 37.26 Bn | 22.38 Bn | 996.62 Mn | 33.61% |
| 5 | Carnival | 36.04 Bn | 29.22 Bn | - | 35.58% |
| 6 | Intercontinental Hotels | 26.07 Bn | 22.04 Bn | - | - |
| 7 | Trip.com | 26.03 Bn | -18.97 Bn | 1.84 Bn | - |
| 8 | Hyatt Hotels | 16.23 Bn | 13.39 Bn | 388.00 Mn | -67.85% |
| 9 | H World | 14.27 Bn | 5.68 Bn | 453.94 Mn | 35.47% |
| 10 | Norwegian Cruise Line Holdings | 6.99 Bn | 6.22 Bn | 1.05 Bn | 24.90% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 35.84% |
| Mar 31, 2026 | 37.65% |
| Dec 31, 2025 | 33.13% |
| Sep 30, 2025 | 42.09% |
| Jun 30, 2025 | 38.98% |
| Mar 31, 2025 | 34.51% |
| Dec 31, 2024 | 28.09% |
| Sep 30, 2024 | 42.35% |
| Jun 30, 2024 | 36.91% |
| Mar 31, 2024 | 31.20% |
| Dec 31, 2023 | 28.91% |
| Sep 30, 2023 | 39.81% |
| Jun 30, 2023 | 32.95% |
| Mar 31, 2023 | 22.94% |
| Dec 31, 2022 | 15.65% |
| Sep 30, 2022 | 23.34% |
| Jun 30, 2022 | 7.99% |
| Mar 31, 2022 | -44.99% |
| Dec 31, 2021 | -55.33% |
| Sep 30, 2021 | -143.98% |
API Access
Royal Caribbean Cruises EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=RCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "RCL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=RCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();