Question 1

What is Royal Caribbean Cruises's P/FCF ratio?

Accepted Answer

Royal Caribbean Cruises (RCL) P/FCF ratio is 55.3× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Royal Caribbean Cruises?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Royal Caribbean Cruises specifically, the relevant sector benchmark is the current sector median of 17.8×.

Question 5

Is Royal Caribbean Cruises's P/FCF ratio high or low?

Accepted Answer

Royal Caribbean Cruises's P/FCF ratio of 55.3× is above its own 5-year average of 36.7× and above the sector median of 17.8×. That places the current reading at the 73th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Royal Caribbean Cruises's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Royal Caribbean Cruises (RCL) P/FCF ratio has ranged from a low of 8.5× in 2012 to a high of 788.5× in 2016. The 5-year average is 36.7× and the 5-year median is 31.1×.

Question 7

What was Royal Caribbean Cruises's P/FCF ratio in 2025?

Accepted Answer

Royal Caribbean Cruises (RCL) P/FCF ratio at the end of 2025 was 61.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Royal Caribbean Cruises's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$75.59B	$1.24B	61.2×	+30.1×	Dec 31, 2025
2024	$62.06B	$2.00B	31.1×	-26.1×	Dec 31, 2024
2023	$33.15B	$579.64M	57.2×	—	Dec 31, 2023
2022	$12.61B	−$2.23B	—	—	Dec 31, 2022
2021	$19.59B	−$4.11B	—	—	Dec 31, 2021
2020	$16.77B	−$5.70B	—	—	Dec 31, 2020
2019	$27.93B	$691.70M	40.4×	—	Dec 31, 2019
2018	$20.44B	−$180.89M	—	—	Dec 31, 2018
2017	$25.51B	$2.31B	11.0×	-777.5×	Dec 31, 2017
2016	$17.60B	$22.33M	788.5×	+722.0×	Dec 31, 2016
2015	$22.13B	$333.03M	66.5×	—	Dec 31, 2015
2014	$18.19B	−$67.64M	—	—	Dec 31, 2014
2013	$10.44B	$648.29M	16.1×	-66.2×	Dec 31, 2013
2012	$7.42B	$90.23M	82.3×	+63.2×	Dec 31, 2012
2011	$5.38B	$282.11M	19.1×	—	Dec 31, 2011
2010	$10.14B	−$524.17M	—	—	Dec 31, 2010
2009	$5.41B	−$1.63B	—	—	Dec 31, 2009
2008	$2.94B	−$1.15B	—	—	Dec 31, 2008
2007	$9.04B	−$48.69M	—	—	Dec 31, 2007
2006	$8.75B	−$232.07M	—	—	Dec 31, 2006
2005	$9.41B	$681.46M	13.8×	-10.6×	Dec 31, 2005
2004	$10.89B	$446.32M	24.4×	—	Dec 31, 2004
2003	$6.80B	−$171.73M	—	—	Dec 31, 2003
2002	$3.22B	$180.48M	17.9×	—	Dec 31, 2002
2001	$3.12B	−$1.10B	—	—	Dec 31, 2001


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Avery Dennison (AVY)	15.2×
Wynn Resorts (WYNN)	15.1×
NVR (NVR)	14.9×
Booking Holdings (BKNG)	14.7×
Carnival Corporation (CCL)	14.6×
PulteGroup (PHM)	13.7×
Masco (MAS)	13.0×
V.F. (VFC)	12.6×
Deckers Outdoor (DECK)	12.0×
Lululemon Athletica (LULU)	11.6×
D.R. Horton (DHI)	11.3×
Toll Brothers (TOL)	11.1×
LKQ (LKQ)	9.3×
Hasbro (HAS)	9.3×
Mohawk Industries (MHK)	8.4×
MercadoLibre (MELI)	8.2×
Best Buy Co. (BBY)	7.9×
Etsy (ETSY)	7.2×
Leggett & Platt (LEG)	6.6×
Weyco Group (WEYS)	6.2×
Expedia Group (EXPE)	6.0×
General Motors (GM)	5.5×
MGM Resorts (MGM)	5.5×
Ford Motor (F)	3.9×

P/FCF Ratio for Royal Caribbean Cruises (RCL)

P/FCF Ratio daily chart for Royal Caribbean Cruises (RCL)

Historical P/FCF Ratio for Royal Caribbean Cruises (RCL) from 2001 to 2025

About P/FCF Ratio at Royal Caribbean Cruises (RCL)

Royal Caribbean Cruises P/FCF Ratio by Year

Royal Caribbean Cruises P/FCF Ratio 2025: 61.2×

Royal Caribbean Cruises P/FCF Ratio 2024: 31.1×

Royal Caribbean Cruises P/FCF Ratio 2023: 57.2×

Royal Caribbean Cruises P/FCF Ratio 2019: 40.4×

Royal Caribbean Cruises P/FCF Ratio 2017: 11.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Royal Caribbean Cruises (RCL) Key Financials

P/FCF Ratio daily chart for Royal Caribbean Cruises (RCL)

Historical P/FCF Ratio for Royal Caribbean Cruises (RCL) from 2001 to 2025

About P/FCF Ratio at Royal Caribbean Cruises (RCL)

Royal Caribbean Cruises P/FCF Ratio by Year

Royal Caribbean Cruises P/FCF Ratio 2025: 61.2×

Royal Caribbean Cruises P/FCF Ratio 2024: 31.1×

Royal Caribbean Cruises P/FCF Ratio 2023: 57.2×

Royal Caribbean Cruises P/FCF Ratio 2019: 40.4×

Royal Caribbean Cruises P/FCF Ratio 2017: 11.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Royal Caribbean Cruises's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Royal Caribbean Cruises?

+Is Royal Caribbean Cruises's P/FCF ratio high or low?

+What is Royal Caribbean Cruises's historical P/FCF ratio range?

+What was Royal Caribbean Cruises's P/FCF ratio in 2025?

+Why does Royal Caribbean Cruises's P/FCF ratio change over time?

Royal Caribbean Cruises (RCL) Key Financials