Royal Caribbean Cruises (RCL) Net Margin (2009 - 2026)
Royal Caribbean Cruises' Net Margin came in at 30.91% for Q3 2026, up 0.26 percentage points from 30.65% a year earlier and up 7.56 percentage points from the prior quarter.
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Analysis
Royal Caribbean Cruises (RCL) Net Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Royal Caribbean Cruises reported Net Margin of 23.78%, up 0.46 percentage points year-over-year; for FY2025, it came in at 23.80%, up 6.34 percentage points from FY2024.
- Net Margin has increased in each of the last four years, with a five-year change of +286.27 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 17.45% in FY2024 (+5.24 pp), 12.21% in FY2023 (+36.60 pp), -24.39% in FY2022 (+318.95 pp) and -343.34% in FY2021 (-80.87 pp).
- The Q3 2026 figure represents the highest quarterly Net Margin in data going back to Q1 2009.
- Year-over-year, Net Margin increased in seven of the last eight quarters, with an average year-over-year change of +3.95 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q4 2021 (a gain of 3866.03 percentage points), and the weakest in Q2 2026 (a drop of 3.32 percentage points).
- Business Quant data shows RCL's Net Margin at 23.34% (Q2 2026), 21.14% (Q1 2026) and 17.70% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 109.41 Bn | 107.68 Bn | 1.54 Bn | 11.33% |
| 2 | Royal Caribbean Cruises | 90.23 Bn | 87.16 Bn | 2.88 Bn | 30.91% |
| 3 | Hilton Worldwide Holdings | 83.56 Bn | 80.30 Bn | 3.05 Bn | 16.12% |
| 4 | Carnival | 41.76 Bn | 34.95 Bn | - | 22.76% |
| 5 | Viking Holdings | 38.86 Bn | 23.99 Bn | 996.62 Mn | 26.82% |
| 6 | Trip.com | 28.88 Bn | -16.15 Bn | 1.84 Bn | -15.64% |
| 7 | Intercontinental Hotels | 27.81 Bn | 23.78 Bn | - | - |
| 8 | Hyatt Hotels | 17.41 Bn | 14.83 Bn | 384.00 Mn | 3.33% |
| 9 | H World | 15.43 Bn | 6.84 Bn | 456.00 Mn | 22.10% |
| 10 | U-Haul Holding | 10.98 Bn | 6.62 Bn | 1.75 Bn | 7.71% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 30.91% |
| Jun 30, 2026 | 23.34% |
| Mar 31, 2026 | 21.14% |
| Dec 31, 2025 | 17.70% |
| Sep 30, 2025 | 30.65% |
| Jun 30, 2025 | 26.66% |
| Mar 31, 2025 | 18.25% |
| Dec 31, 2024 | 14.68% |
| Sep 30, 2024 | 22.74% |
| Jun 30, 2024 | 20.78% |
| Mar 31, 2024 | 9.66% |
| Dec 31, 2023 | 8.32% |
| Sep 30, 2023 | 24.25% |
| Jun 30, 2023 | 13.03% |
| Mar 31, 2023 | -1.66% |
| Dec 31, 2022 | -19.21% |
| Sep 30, 2022 | 1.10% |
| Jun 30, 2022 | -23.88% |
| Mar 31, 2022 | -110.19% |
| Dec 31, 2021 | -138.12% |
API Access
Royal Caribbean Cruises Net 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=net-margin&ticker=RCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=RCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();