Royal Caribbean Cruises (RCL) Stock Buyback History
TTM buyback yield 2.36% · Shareholder yield (TTM) 2.36%.
TTM buyback yield
2.36%
Shareholder yield (TTM)
2.36%
5Y share count change
27.4%
TTM buyback spend
$1.75B
SBC coverage (TTM)
10.96x
YoY change in spend
N/A
5Y CAGR of spend
N/A
Peak year (2025)
$1.16B
Cumulative spend
$3.21B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Royal Caribbean Cruises (RCL) repurchased about $1.75B of stock over the trailing twelve months.
- Diluted share count is up 27.4% over the last ~5 fiscal years — equity issuance and stock-based compensation are outpacing repurchases.
- TTM buyback ÷ stock-based-comp ratio of 10.96× — repurchases more than cover SBC dilution.
- TTM repurchases used about 178% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $1.16B | $0.00 | $1.16B | 0.27B | -2.2% | 1.53% |
| 2024 | $0.00 | $267.00M | −$267.00M | 0.28B | -1.4% | — |
| 2023 | $0.00 | $126.00M | −$126.00M | 0.28B | 11.0% | — |
| 2022 | $0.00 | $36.00M | −$36.00M | 0.26B | 1.3% | — |
| 2021 | $0.00 | $64.00M | −$64.00M | 0.25B | 17.5% | — |
| 2020 | $0.00 | $39.78M | −$39.78M | 0.21B | 2.1% | — |
| 2019 | $99.58M | $75.93M | $23.65M | 0.21B | -0.8% | 0.36% |
| 2018 | $575.04M | $46.06M | $528.98M | 0.21B | -1.9% | 2.81% |
| 2017 | $225.00M | $69.46M | $155.54M | 0.22B | -0.3% | 0.88% |
| 2016 | $299.96M | $32.66M | $267.30M | 0.22B | -2.0% | 1.70% |
| 2015 | $200.00M | $36.07M | $163.93M | 0.22B | -1.1% | 0.90% |
| 2014 | $236.07M | $26.12M | $209.96M | 0.22B | 1.0% | 1.30% |
| 2013 | $0.00 | $0.00 | $0.00 | 0.22B | 0.7% | — |
| 2012 | $0.00 | $0.00 | $0.00 | 0.22B | 0.1% | — |
| 2011 | $0.00 | $0.00 | $0.00 | 0.22B | 0.7% | — |
| 2010 | $0.00 | $0.00 | $0.00 | 0.22B | 1.1% | — |
| 2009 | $0.00 | $0.00 | $0.00 | 0.22B | 0.5% | — |
| 2008 | $0.00 | $0.00 | $0.00 | 0.21B | 0.1% | — |
| 2007 | $0.00 | $0.00 | $0.00 | 0.21B | -0.8% | — |
| 2006 | $164.58M | $0.00 | $164.58M | 0.22B | -1.8% | 1.88% |
| 2005 | $249.12M | $0.00 | $249.12M | 0.22B | 4.6% | 2.65% |
| 2004 | $0.00 | $0.00 | $0.00 | 0.21B | 6.3% | — |
| 2003 | $0.00 | $0.00 | $0.00 | 0.20B | 0.7% | — |
| 2002 | $0.00 | $0.00 | $0.00 | 0.20B | 1.8% | — |
| 2001 | $0.00 | $0.00 | $0.00 | 0.19B | -0.0% | — |
| 2000 | $0.00 | $0.00 | $0.00 | 0.19B | 3.5% | — |
| 1999 | $0.00 | $0.00 | $0.00 | 0.19B | 3.1% | — |
| 1998 | $0.00 | $0.00 | $0.00 | 0.18B | 17.7% | — |
| 1997 | $0.00 | $0.00 | $0.00 | 0.15B | 20.1% | — |
| 1996 | $0.00 | $0.00 | $0.00 | 0.13B | — | — |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1992 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1991 | $0.00 | $0.00 | $0.00 | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Royal Caribbean Cruises (RCL) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Royal Caribbean Cruises (RCL)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Royal Caribbean Cruises (RCL)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $1.16B | — | +$1.16B | ||
| 2024 | $0 | — | $0 | ||
| 2023 | $0 | — | $0 | ||
| 2022 | $0 | — | $0 | ||
| 2021 | $0 | — | $0 | ||
| 2020 | $0 | -100.0% | -$99.58M | ||
| 2019 | $99.58M | -82.7% | -$475.46M | ||
| 2018 | $575.04M | +155.6% | +$350.04M | ||
| 2017 | $225.00M | -25.0% | -$74.96M | ||
| 2016 | $299.96M | +50.0% | +$99.96M | ||
| 2015 | $200.00M | -15.3% | -$36.07M | ||
| 2014 | $236.07M | — | +$236.07M | ||
| 2013 | $0 | — | $0 | ||
| 2012 | $0 | — | $0 | ||
| 2011 | $0 | — | $0 | ||
| 2010 | $0 | — | $0 | ||
| 2009 | $0 | — | $0 | ||
| 2008 | $0 | — | $0 | ||
| 2007 | $0 | -100.0% | -$164.58M | ||
| 2006 | $164.58M | -33.9% | -$84.54M | ||
| 2005 | $249.12M | — | +$249.12M | ||
| 2004 | $0 | — | $0 | ||
| 2003 | $0 | — | $0 | ||
| 2002 | $0 | — | $0 | ||
| 2001 | $0 | — | $0 | ||
| 2000 | $0 | — | $0 | ||
| 1999 | $0 | — | $0 | ||
| 1998 | $0 | — | $0 | ||
| 1997 | $0 | — | $0 | ||
| 1996 | $0 | — | $0 | ||
| 1995 | $0 | — | $0 | ||
| 1994 | $0 | — | $0 | ||
| 1993 | $0 | — | $0 | ||
| 1992 | $0 | — | $0 | ||
| 1991 | $0 | — | — |
2025's annual buyback spend for Royal Caribbean Cruises (RCL) came in at $1.16B.
Royal Caribbean Cruises buyback spend compound annual growth for the 2015–2025 (10 years) window is +19.2%, with the latest reading among the more recent periods of the dataset.
2025 marks the peak buyback spend at $1.16B, with the historical low of $0 recorded in 1991.
Among 8 Consumer Cyclical peers, Royal Caribbean Cruises (RCL) ranks 5th; the peer median for buyback spend is $1.03B.
Royal Caribbean Cruises Buyback Spend 2025: $1.16B
Royal Caribbean Cruises buyback spend in 2025 was $1.16B.
Royal Caribbean Cruises Buyback Spend 2024: $0
Royal Caribbean Cruises buyback spend in 2024 was $0.
Royal Caribbean Cruises Buyback Spend 2023: $0
Royal Caribbean Cruises buyback spend in 2023 was $0.
Royal Caribbean Cruises Buyback Spend 2022: $0
Royal Caribbean Cruises buyback spend in 2022 was $0.
Royal Caribbean Cruises Buyback Spend 2021: $0
Royal Caribbean Cruises buyback spend in 2021 was $0.
See more financial history for Royal Caribbean Cruises (RCL).
Sector peers by buyback spend
Companies in the same sector as Royal Caribbean Cruises, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| Alibaba (BABA) | $87.36B | Consumer Cyclical |
| Booking Holdings (BKNG) | $6.44B | Consumer Cyclical |
| TJX Companies (TJX) | $2.52B | Consumer Cyclical |
| McDonald's (MCD) | $2.06B | Consumer Cyclical |
| Amazon (AMZN) | $0 | Consumer Cyclical |
| Tesla (TSLA) | $0 | Consumer Cyclical |
| Home Depot (HD) | $0 | Consumer Cyclical |
| PDD Holdings (PDD) | $0 | Consumer Cyclical |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 10.96×.
Capital allocation mix
How Royal Caribbean Cruises splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $985.00M (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Royal Caribbean Cruises's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Royal Caribbean Cruises buy back its own stock?
Yes, Royal Caribbean Cruises (RCL) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Royal Caribbean Cruises spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $1.75B (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Royal Caribbean Cruises's buyback yield?
TTM buyback yield is about 2.36% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Royal Caribbean Cruises's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 2.36% combined (TTM-based where available).
Is Royal Caribbean Cruises diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Royal Caribbean Cruises's share count changed?
Diluted weighted average shares changed by about 27.4% over roughly five fiscal years (annual income statement data).
What is Royal Caribbean Cruises's buyback spend?
Latest reported buyback spend for Royal Caribbean Cruises (RCL) is $1.75B (period ending March 31, 2026).
What is the long-term growth rate of Royal Caribbean Cruises buyback spend?
Royal Caribbean Cruises (RCL) buyback spend compound annual growth rate is +19.2% over the most recent 10 years available.
When did Royal Caribbean Cruises buyback spend hit its highest annual value?
Royal Caribbean Cruises buyback spend reached its highest annual value of $1.16B in 2025.
What was Royal Caribbean Cruises buyback spend in 2024?
Royal Caribbean Cruises (RCL) buyback spend in 2024 was $0.
What was Royal Caribbean Cruises buyback spend in 2025?
Royal Caribbean Cruises (RCL) buyback spend in 2025 was $1.16B.
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