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FCF Margin for Royal Caribbean Cruises (RCL)

As of · Reported

Metric

TTM

7.5%

YoY change

−5.22pp

Trough year (2021)

-268.1%

Peak year (2017)

26.3%

FCF Margin history chart for Royal Caribbean Cruises (RCL) from 1991 to 2025

Latest: 6.9%

FCF Margin change chart for Royal Caribbean Cruises (RCL) from 1991 to 2025

Latest: −5.22pp

FCF Margin history table for Royal Caribbean Cruises (RCL) from 1991 to 2025

  • 20256.9%-5.22pp
  • 202412.1%+7.94pp
  • 20234.2%+29.39pp
  • 2022-25.2%+242.93pp
  • 2021-268.1%-10.23pp
  • 2020-257.9%-264.23pp
  • 20196.3%+8.22pp
  • 2018-1.9%-28.23pp
  • 201726.3%+26.06pp
  • 20160.3%-3.75pp
  • 20154.0%+4.85pp
  • 2014-0.8%-8.98pp
  • 20138.1%+6.97pp
  • 20121.2%-2.57pp
  • 20113.7%+11.51pp
  • 2010-7.8%+19.96pp
  • 2009-27.7%-10.08pp
  • 2008-17.6%-16.85pp
  • 2007-0.8%+3.65pp
  • 2006-4.4%-18.34pp
  • 200513.9%+4.10pp
  • 20049.8%+14.34pp
  • 2003-4.5%-9.79pp
  • 20025.3%+40.35pp
  • 2001-35.1%-14.77pp
  • 2000-20.3%-5.04pp
  • 1999-15.3%-10.56pp
  • 1998-4.7%+37.80pp
  • 1997-42.5%-11.36pp
  • 1996-31.2%-14.02pp
  • 1995-17.1%-23.28pp
  • 19946.1%-6.15pp
  • 199312.3%+21.74pp
  • 1992-9.4%+32.53pp
  • 1991-42.0%—

FCF Margin values are taken from Royal Caribbean Cruises's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About FCF Margin at Royal Caribbean Cruises (RCL)

According to Royal Caribbean Cruises's latest reported financial statements, the company's latest reported free cash flow margin is 7.5%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

Royal Caribbean Cruises (RCL) most recent annual free cash flow margin stands at 6.89% (2025) – contracted 5.2 percentage points year-over-year.

2017 marks the peak free cash flow margin at 26.32%, with the historical low of -268.15% recorded in 2021.

Royal Caribbean Cruises FCF Margin by Year

Royal Caribbean Cruises FCF Margin 2025: 6.9%

In 2025, Royal Caribbean Cruises reported free cash flow margin of 6.89%, contracted 5.2 percentage points from 2024.

Royal Caribbean Cruises FCF Margin 2024: 12.1%

Royal Caribbean Cruises free cash flow margin in 2024 was 12.11%, expanded 7.9 percentage points from 2023.

Royal Caribbean Cruises FCF Margin 2023: 4.2%

2023's free cash flow margin for Royal Caribbean Cruises came in at 4.17%, expanded 29.4 percentage points from 2022.

Royal Caribbean Cruises FCF Margin 2022: -25.2%

Royal Caribbean Cruises posted free cash flow margin of -25.21% in 2022, expanded 242.9 percentage points from 2021.

Royal Caribbean Cruises FCF Margin 2021: -268.1%

Royal Caribbean Cruises free cash flow margin in 2021 was -268.15%.

See more financial history for Royal Caribbean Cruises (RCL).

Sector peers by FCF Margin

Consumer Cyclical peers of Royal Caribbean Cruises (RCL), ranked by their latest free cash flow margin

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