Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026)
Royal Caribbean Cruises (RCL) reported EBITDA Margin of 26.1% for Q1 2026, up 247.0% on a YoY basis from 7.52% in Q1 2025, and up 19.15% sequentially from 21.91% in Q4 2025.
Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026) Analysis & Trends
Royal Caribbean Cruises (RCL) has 18 years of EBITDA Margin data on file, last reported at 26.1% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 247.0% year-over-year to 26.1%; the trailing twelve-month figure through Mar 2026 stood at 27.88% (up 220.0% YoY), and the FY2025 full-year result was 27.38%, up 247.0% from the prior year.
- EBITDA Margin advanced to 26.1% in Q1 2026, from 21.91% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 33.44% in Q3 2024 to a low of 81.12% in Q1 2022.
- A 5-year average of 13.48% and a median of 21.88% in 2023 frame the typical range for EBITDA Margin.
- Across the five-year window, EBITDA Margin jumped 200031 bps in 2022 and tumbled 52 bps in 2024, its largest moves.
- Tracing RCL's EBITDA Margin over 5 years: stood at 0.52% in 2022, then soared by 3218 bps to 17.11% in 2023, then slipped by 3 bps to 16.6% in 2024, then soared by 32 bps to 21.91% in 2025, then advanced by 19 bps to 26.1% in 2026.
- Business Quant data shows RCL's EBITDA Margin at 26.1% in Q1 2026, 21.91% in Q4 2025, and 33.12% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 22.98% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 26.10% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 3.21% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 2.66% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 0.03% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 12.77% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 7.33% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 9.99% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 16.11% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 0.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 26.10% |
| Dec 31, 2025 | 21.91% |
| Sep 30, 2025 | 33.12% |
| Jun 30, 2025 | 29.29% |
| Mar 31, 2025 | 23.63% |
| Dec 31, 2024 | 16.60% |
| Sep 30, 2024 | 33.44% |
| Jun 30, 2024 | 26.74% |
| Mar 31, 2024 | 20.12% |
| Dec 31, 2023 | 17.11% |
| Sep 30, 2023 | 30.41% |
| Jun 30, 2023 | 21.88% |
| Mar 31, 2023 | 9.42% |
| Dec 31, 2022 | 0.52% |
| Sep 30, 2022 | 9.97% |
| Jun 30, 2022 | -10.01% |
| Mar 31, 2022 | -81.12% |
| Dec 31, 2021 | -105.02% |
| Sep 30, 2021 | -220.11% |
| Jun 30, 2021 | -2,010.32% |