What is Royal Caribbean Group's free cash flow?

Royal Caribbean Group (RCL) reported free cash flow of $1.33B in Q1 2026.

How has Royal Caribbean Group's free cash flow changed year-over-year?

Royal Caribbean Group's free cash flow increased by 11.3% year-over-year, from $1.2B to $1.33B.

What does free cash flow mean?

Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

Royal Caribbean Group RCL Free cash flow

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-$2.28B-408%

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$3.75B+36.0%

OneSpaWorld Holdings LimitedOSW

$4.75M-43.5%

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-$10.43M-112%

Norwegian Cruise Line Holdings Ltd.NCLH

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Other financials

Income statement

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Revenue$4.5B+11.3%

Gross profit$2.2B+14.8%

Operating income$1.2B+23.0%

Net income$941.0M+28.9%

EPS (diluted)$3.48+28.9%

Balance sheet

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Cash & equivalents$512.0M+32.6%

Total debt$678.0M-19.9%

Total equity$9.8B+23.2%

Total assets$42.0B+12.1%

Cash flow

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Operating cash flow$1.8B+12.7%

CapEx$500.0M+16.8%

Valuation

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Market cap$86.53B+17.0%

Enterprise value$86.7B+16.5%

P/E19.3×-3.5×

P/S4.7×+0.3×

Profitability

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Gross margin49.7%+1.5pp

Operating margin27.9%+2.2pp

Net margin24.4%+5.0pp

FCF margin20.9%—

Returns & leverage

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Return on equity50.4%+0.9pp

Debt / equity0.1×0.0×

Current ratio0.2×0.0×

Where this comes from

Calculated from Royal Caribbean Group’s reported figures.

$1.8Bnet cash from operating−$500.0Mcapital expenditures=$1.33B

The official record: Royal Caribbean Group’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Royal Caribbean Group's free cash flow?: Royal Caribbean Group (RCL) reported free cash flow of $1.33B in Q1 2026.
How has Royal Caribbean Group's free cash flow changed year-over-year?: Royal Caribbean Group's free cash flow increased by 11.3% year-over-year, from $1.2B to $1.33B.
What does free cash flow mean?: Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.