Royal Caribbean Cruises (RCL) Gross Margin (2009 - 2026)
Royal Caribbean Cruises (RCL) reported Gross Margin of 49.53% for Q1 2026, up 152.0% on a YoY basis from 19.65% in Q1 2025, and up 4.58% sequentially from 47.36% in Q4 2025.
Royal Caribbean Cruises (RCL) Gross Margin (2009 - 2026) Analysis & Trends
Royal Caribbean Cruises (RCL) has 18 years of Gross Margin data on file, last reported at 49.53% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 152.0% year-over-year to 49.53%; the trailing twelve-month figure through Mar 2026 stood at 49.69% (up 146.0% YoY), and the FY2025 full-year result was 49.36%, up 184.0% from the prior year.
- Gross Margin advanced to 49.53% in Q1 2026, from 47.36% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 51.76% in Q3 2025 to a low of 11.87% in Q1 2022.
- A 5-year average of 40.39% and a median of 45.43% in 2024 frame the typical range for Gross Margin.
- Peak annual rise in Gross Margin reached 75750 bps in 2022, while the deepest fall reached 6855 bps in 2022.
- Tracing RCL's Gross Margin over 5 years: stood at 31.45% in 2022, then jumped by 38 bps to 43.26% in 2023, then increased by 5 bps to 45.43% in 2024, then grew by 4 bps to 47.36% in 2025, then increased by 5 bps to 49.53% in 2026.
- Business Quant data shows RCL's Gross Margin at 49.53% in Q1 2026, 47.36% in Q4 2025, and 51.76% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 62.62% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 49.53% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 78.30% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 55.39% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 41.37% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | - |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 89.00% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 40.89% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 79.62% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 58.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | -734.41% |