Royal Caribbean Cruises (RCL) Gross Margin (2009 - 2026)
Royal Caribbean Cruises (RCL) posted Gross Margin of 47.29% for Q2 2026, down 4.52% sequentially from 49.53% in Q1 2026, and down 240.0% YoY from 33.78% in Q2 2025.
Royal Caribbean Cruises (RCL) Gross Margin (2009 - 2026) Analysis & Trends
Royal Caribbean Cruises has reported Gross Margin for 18 years, with the latest figure at 47.29% in Q2 2026.
- Quarterly Gross Margin fell 240.0% year-over-year to 47.29% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 49.07% (up 31.0% YoY) and the FY2025 annual result came in at 49.36%, up 184.0% from the prior year.
- Gross Margin slipped to 47.29% in Q2 2026 per RCL's latest filing, from 49.53% in the prior quarter.
- Over five years, Gross Margin peaked at 51.76% in Q3 2025 and troughed at 11.87% in Q1 2022.
- A 5-year average of 40.77% and a median of 46.36% in 2024 frame the typical range for Gross Margin.
- The widest YoY moves for Gross Margin: up 75750 bps in 2022, down 6855 bps in 2022.
- Over 5 years, Gross Margin stood at 31.45% in 2022, then jumped by 38 bps to 43.26% in 2023, then advanced by 5 bps to 45.43% in 2024, then gained by 4 bps to 47.36% in 2025, then slipped by 0 bps to 47.29% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 47.29%, 49.53%, and 47.36% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 67.75% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 82.46% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 47.29% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 41.37% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | - |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 90.66% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 79.12% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 39.91% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 74.55% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 59.08% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 47.29% |
| Mar 31, 2026 | 49.53% |
| Dec 31, 2025 | 47.36% |
| Sep 30, 2025 | 51.76% |
| Jun 30, 2025 | 49.69% |
| Mar 31, 2025 | 48.01% |
| Dec 31, 2024 | 45.43% |
| Sep 30, 2024 | 51.06% |
| Jun 30, 2024 | 47.64% |
| Mar 31, 2024 | 44.85% |
| Dec 31, 2023 | 43.26% |
| Sep 30, 2023 | 48.63% |
| Jun 30, 2023 | 44.51% |
| Mar 31, 2023 | 37.87% |
| Dec 31, 2022 | 31.45% |
| Sep 30, 2022 | 34.30% |
| Jun 30, 2022 | 23.09% |
| Mar 31, 2022 | -11.87% |
| Dec 31, 2021 | 100.00% |
| Sep 30, 2021 | -78.07% |