Capital Expenditures for Royal Caribbean Cruises (RCL)
According to Royal Caribbean Cruises's latest reported financial statements, the company's current capital expenditures (TTM) is $5.23B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$5.23B
YoY change
+60.0%
5Y CAGR
+21.6%
Peak year (2025)
$5.23B
Cumulative capital expenditures
$55.81B
CapEx history chart for Royal Caribbean Cruises (RCL) from 1991 to 2025
CapEx history table for Royal Caribbean Cruises (RCL) from 1991 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $5.23B | +60.0% | ||
| 2024 | $3.27B | -16.1% | ||
| 2023 | $3.90B | +43.8% | ||
| 2022 | $2.71B | +21.5% | ||
| 2021 | $2.23B | +13.5% | ||
| 2020 | $1.97B | -35.0% | ||
| 2019 | $3.02B | -17.4% | ||
| 2018 | $3.66B | +548.8% | ||
| 2017 | $564.14M | -77.4% | ||
| 2016 | $2.49B | +54.6% | ||
| 2015 | $1.61B | -10.9% | ||
| 2014 | $1.81B | +137.2% | ||
| 2013 | $763.78M | -40.9% | ||
| 2012 | $1.29B | +10.0% | ||
| 2011 | $1.17B | -46.3% | ||
| 2010 | $2.19B | -11.7% | ||
| 2009 | $2.48B | +11.4% | ||
| 2008 | $2.22B | +68.8% | ||
| 2007 | $1.32B | +11.6% | ||
| 2006 | $1.18B | +174.6% | ||
| 2005 | $429.90M | -31.8% | ||
| 2004 | $630.67M | -38.7% | ||
| 2003 | $1.03B | +49.2% | ||
| 2002 | $689.99M | -60.3% | ||
| 2001 | $1.74B | +35.1% | ||
| 2000 | $1.29B | +32.2% | ||
| 1999 | $972.48M | +49.3% | ||
| 1998 | $651.45M | -48.2% | ||
| 1997 | $1.26B | +74.2% | ||
| 1996 | $722.40M | +69.0% | ||
| 1995 | $427.50M | +193.8% | ||
| 1994 | $145.50M | +80.7% | ||
| 1993 | $80.50M | -70.0% | ||
| 1992 | $268.20M | -32.5% | ||
| 1991 | $397.60M | — |
CapEx values are taken from Royal Caribbean Cruises's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
As of the 2025 fiscal year, Royal Caribbean Cruises (RCL) reported capital expenditures of $5.23B – surged 60.0% year-over-year.
Over 2020–2025 (5 years), Royal Caribbean Cruises capital expenditures expanded at a +21.6% compound annual rate, with the latest reading among the more recent periods of the dataset.
2025 marks the peak capital expenditures at $5.23B, with the historical low of $80.50M recorded in 1993.
Among 8 Consumer Cyclical peers, Royal Caribbean Cruises (RCL) ranks 4th; the peer median for capital expenditures is $3.52B.
Royal Caribbean Cruises Capital Expenditures by Year
Royal Caribbean Cruises Capital Expenditures 2025: $5.23B
Royal Caribbean Cruises capital expenditures in 2025 was $5.23B, surged 60.0% from 2024. This figure represents the highest annual value in the available history.
Royal Caribbean Cruises Capital Expenditures 2024: $3.27B
Royal Caribbean Cruises capital expenditures in 2024 was $3.27B, declined 16.1% below 2023.
Royal Caribbean Cruises Capital Expenditures 2023: $3.90B
Royal Caribbean Cruises capital expenditures in 2023 was $3.90B, surged 43.8% from 2022.
Royal Caribbean Cruises Capital Expenditures 2022: $2.71B
Royal Caribbean Cruises capital expenditures in 2022 was $2.71B, grew 21.5% from 2021.
Royal Caribbean Cruises Capital Expenditures 2021: $2.23B
Royal Caribbean Cruises capital expenditures in 2021 was $2.23B.
See more financial history for Royal Caribbean Cruises (RCL).
Sector peers — CapEx
Companies in the same sector as Royal Caribbean Cruises, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Amazon.com, Inc. (AMZN) | $131.82B | Consumer Cyclical |
| Alibaba Group Holding Limited (BABA) | $86.66B | Consumer Cyclical |
| Tesla, Inc. (TSLA) | $8.53B | Consumer Cyclical |
| The Home Depot, Inc. (HD) | $3.68B | Consumer Cyclical |
| McDonald's Corporation (MCD) | $3.37B | Consumer Cyclical |
| The TJX Companies, Inc. (TJX) | $1.96B | Consumer Cyclical |
| Booking Holdings Inc. (BKNG) | $322.00M | Consumer Cyclical |
| PDD Holdings Inc. (PDD) | $0 | Consumer Cyclical |
Frequently asked questions
What is Royal Caribbean Cruises's capital expenditures?
- Latest reported capital expenditures for Royal Caribbean Cruises (RCL) is $5.23B (period ending December 31, 2025).
How has Royal Caribbean Cruises capital expenditures changed year-over-year?
- Royal Caribbean Cruises (RCL) capital expenditures changed +60.0% year-over-year on the latest annual filing.
What is the long-term growth rate of Royal Caribbean Cruises capital expenditures?
- Royal Caribbean Cruises (RCL) capital expenditures compound annual growth rate is +21.6% over the most recent 5 years available.
When did Royal Caribbean Cruises capital expenditures hit its highest annual value?
- Royal Caribbean Cruises capital expenditures reached its highest annual value of $5.23B in 2025.
What was Royal Caribbean Cruises capital expenditures in 2024?
- Royal Caribbean Cruises (RCL) capital expenditures in 2024 was $3.27B.
What was Royal Caribbean Cruises capital expenditures in 2025?
- Royal Caribbean Cruises (RCL) capital expenditures in 2025 was $5.23B.
Metrics overview
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