Skip to content
OpenCapital
Get started
Income StatementBalance SheetCash FlowSegments
Royal Caribbean Group logo

Royal Caribbean Group Cash Flow Statement

Operating, investing, and financing cash movements

Royal Caribbean Group generated $6.7B in operating cash flow over the trailing twelve months. After $5.3B in capital expenditures, free cash flow was $3.6B. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$6.7BNet Cash From Investing (TTM)-$5.1BNet Cash From Financing (TTM)-$3.3BCapital Expenditures (TTM)$5.3BDepreciation And Amortization Cf (TTM)$1.8BNet Change In Cash (TTM)-$335.0M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$77.2B
P/E Ratio17.24
ROE50.42%

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures incurred but not yet paid—$42M$19M$22M—$145M
Interest paid$212M$279M$164M$266M$155M$320M
Capital expenditures incurred but not yet paid—$42M$19M$22M—$145M
Capital Expenditures Incurred but Not Yet Paid—$42M$19M$22M—$145M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payments to acquire interest in subsidiaries and affiliates$20M$26M$51M$17M$12M$38M
Capital expenditures$552M$428M$836M$2.5B$1.5B$500M
Payments for Derivative Instruments (Investing)$69M$2M$9M$1M$12M$3M
Payments for Hedge, Investing Activities$69M$2M$9M$1M$12M$3M
Proceeds from Derivative Instrument Investing Activities$0$0$111M$33M$56M$17M
Payment for (Proceeds from) Other Investing Activity$5M-$12M—-$15M—$5M
Proceeds From Collection Of Advance To Affiliate$5M$4M$66M$56M$0$0
Net cash from investing activities-$641M-$440M-$706M-$2.4B-$1.5B-$529M
Investing Cash Flows from Derivatives$0$0$111M$33M$56M$17M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share of Profits (Losses) of Related Party$57M$48M$107M$158M$101M$84M
Change in accounts payable$67M$22M$2M-$124M$127M-$8M
Change in deferred revenue$173M$838M$45M—$135M$809M
Change in inventories—-$9M-$8M$21M-$4M$7M
Other working capital changes$108M$85M———-$32M
Change in receivables-$65M$77M———$173M
Depreciation and amortization$410M$412M$417M$435M$453M$461M
Income (Loss) from Equity Method Investments$57M$48M$107M$158M$101M$84M
Income (Loss) from Equity Method Investments$57M$48M$107M$158M$101M$84M
Income (Loss) from Equity Method Investments$57M$48M$107M$158M$101M$84M
Net cash from operating activities$1.5B$1.6B$1.7B$1.5B$1.6B$1.8B
Net income$559M$736M$1.2B$1.6B$762M$950M
Non-cash interest expense$22M$23M$23M$26M$25M$53M
Net deferred income tax benefit-$15M-$1M$5M$11M$3M-$1M
Gain (Loss) On Extinguishment Of Debt And Inducement Expense-$7M-$10M——-$6M-$60M
Equity in earnings (losses) of equity method investees$57M$48M$107M$158M$101M$84M
Accrued expenses and other liabilities$142M-$151M$130M$40M$197M-$279M
Increase (Decrease) in Prepaid Expense and Other Assets$27M$112M$30M—$58M$25M
Noncash Derivative Instruments Not Designated As Hedging Instruments, Gain (Loss), Net-$69M$2M$54M—$4M-$8M
Income (Loss) from Equity Method Investments$57M$48M$107M$158M$101M$84M
Stock-based compensation$158M$53M$39M$44M$39M$38M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$960M$480M$250M$2.4B$1.5B$2.8B
Repayments of debt$1.7B$1.2B$724M$1.1B$459M$3.1B
Dividends paid$107M$148M$200M$204M$272M$270M
Payments Of Debt Issuance Costs$13M$3M$25M$72M$18M$21M
Other, net-$8M$2M-$55M$0-$2M-$28M
Payment of Deferred Purchase Consideration-$8M$2M-$55M$0-$2M-$28M
Noncontrolling interest transactions and other-$8M$2M-$55M$0-$2M-$28M
Net cash from financing activities-$852M-$1.2B-$696M——-$1.6B
Noncontrolling Interests Activity and Other-$8M$2M-$55M$0-$2M-$28M
Repurchases of common stock$0$241M$0$414M$504M$836M
Taxes paid for net share settlement—$60M———$185M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$915M$1.2B$910M—$116M$1.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$4M$2M$5M——-$1M
Net increase (decrease) in cash-$30M-$2M$349M—$393M-$313M