Royal Caribbean Cruises (RCL) EBITDA Margin (2009 - 2026)
Royal Caribbean Cruises (RCL) posted EBITDA Margin of 42.26% for Q3 2026, up 0.17 percentage points from 42.09% a year earlier and up 6.42 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 Sep 30, 2026, EBITDA Margin at Royal Caribbean Cruises was 37.54%, up 1.01 percentage points year-over-year; for FY2025, it came in at 37.50%, up 2.29 percentage points from FY2024.
- Annual EBITDA Margin has increased for four consecutive years, with a five-year change of +183.86 percentage points (FY2020 to FY2025).
- In prior years, Royal Caribbean Cruises' EBITDA Margin was 35.21% in FY2024 (+3.25 pp), 31.96% in FY2023 (+22.86 pp), 9.10% in FY2022 (+161.05 pp) and -151.96% in FY2021 (-5.60 pp).
- The Q3 2026 figure stands as the highest quarterly EBITDA Margin since Q3 2024.
- On a year-over-year basis, EBITDA Margin increased in five of the last eight quarters, with an average year-over-year change of +1.19 percentage points.
- The strongest year-over-year quarter for EBITDA Margin in the past five years was Q4 2021, with a gain of 1889.61 percentage points; the weakest was Q2 2026, with a drop of 3.14 percentage points.
- According to Business Quant data, EBITDA Margin for the three prior quarters was 35.84% (Q2 2026), 37.65% (Q1 2026) and 33.13% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 109.41 Bn | 107.68 Bn | 1.54 Bn | 20.56% |
| 2 | Royal Caribbean Cruises | 90.23 Bn | 87.16 Bn | 2.88 Bn | 42.26% |
| 3 | Hilton Worldwide Holdings | 83.56 Bn | 80.30 Bn | 3.05 Bn | 29.38% |
| 4 | Carnival | 41.76 Bn | 34.95 Bn | - | 35.58% |
| 5 | Viking Holdings | 38.86 Bn | 23.99 Bn | 996.62 Mn | 33.61% |
| 6 | Trip.com | 28.88 Bn | -16.15 Bn | 1.84 Bn | - |
| 7 | Intercontinental Hotels | 27.81 Bn | 23.78 Bn | - | - |
| 8 | Hyatt Hotels | 17.41 Bn | 14.83 Bn | 384.00 Mn | -62.25% |
| 9 | H World | 15.43 Bn | 6.84 Bn | 456.00 Mn | 35.52% |
| 10 | U-Haul Holding | 10.98 Bn | 6.62 Bn | 1.75 Bn | 33.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 42.26% |
| 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% |
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();