Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026)
Royal Caribbean Cruises' (RCL) quarterly EBITDA Margin came in at 26.08% in Q1 2026, up 515.0% year-on-year from 4.24% in Q1 2025, and up 58.44% quarter-over-quarter from 16.46% in Q4 2025.
Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026) Analysis & Trends
Royal Caribbean Cruises has disclosed EBITDA Margin across 18 years of filings, most recently posting 26.08% for Q1 2026.
- EBITDA Margin for Q1 2026 came in at 26.08%, up 515.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 26.18% (up 720.0% YoY), and the FY2025 annual result was 25.03%, up 824.0% from the prior year.
- EBITDA Margin came in at 26.08% for Q1 2026 at Royal Caribbean Cruises, up from 16.46% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 30.54% in Q2 2025 to a low of 89.77% in Q1 2022.
- The 5-year median for EBITDA Margin is 13.56% (2024), against an average of 5.65%.
- Across the five-year window, EBITDA Margin jumped 253148 bps in 2022 and plunged 437 bps in 2024, its largest moves.
- Royal Caribbean Cruises' EBITDA Margin stood at 13.51% in 2022, then surged by 155 bps to 7.45% in 2023, then surged by 82 bps to 13.56% in 2024, then gained by 21 bps to 16.46% in 2025, then soared by 58 bps to 26.08% in 2026.
- The last three EBITDA Margin figures came in at 26.08% (Q1 2026), 16.46% (Q4 2025), and 30.47% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 22.98% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 3.21% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 26.08% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 9.85% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 13.78% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 9.99% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 0.36% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 16.55% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 22.20% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | -4.59% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 26.08% |
| Dec 31, 2025 | 16.46% |
| Sep 30, 2025 | 30.47% |
| Jun 30, 2025 | 30.54% |
| Mar 31, 2025 | 20.93% |
| Dec 31, 2024 | 13.56% |
| Sep 30, 2024 | 20.79% |
| Jun 30, 2024 | 19.88% |
| Mar 31, 2024 | 11.19% |
| Dec 31, 2023 | 7.45% |
| Sep 30, 2023 | 25.17% |
| Jun 30, 2023 | 13.11% |
| Mar 31, 2023 | -2.88% |
| Dec 31, 2022 | -13.51% |
| Sep 30, 2022 | -6.96% |
| Jun 30, 2022 | -26.47% |
| Mar 31, 2022 | -89.77% |
| Dec 31, 2021 | -141.63% |
| Sep 30, 2021 | -314.34% |
| Jun 30, 2021 | -2,557.95% |