Question 1

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

Accepted Answer

Royal Caribbean Cruises (RCL) P/B ratio is 7.7× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

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

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Royal Caribbean Cruises specifically, the relevant sector benchmark is the current sector median of 4.2×.

Question 5

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

Accepted Answer

Royal Caribbean Cruises's P/B ratio of 7.7× is above its own 5-year average of 6.0× and above the sector median of 4.2×. That places the current reading at the 61th 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/B ratio range?

Accepted Answer

In the available daily series, Royal Caribbean Cruises (RCL) P/B ratio has ranged from a low of 0.3× in 2009 to a high of 12.2× in 2025. The 5-year average is 6.0× and the 5-year median is 6.7×.

Question 7

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

Accepted Answer

Royal Caribbean Cruises (RCL) P/B ratio at the end of 2025 was 7.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$10.04B	7.5×	-0.7×	Dec 31, 2025
2024	$62.06B	$7.56B	8.2×	+1.2×	Dec 31, 2024
2023	$33.15B	$4.72B	7.0×	+2.6×	Dec 31, 2023
2022	$12.61B	$2.87B	4.4×	+0.5×	Dec 31, 2022
2021	$19.59B	$5.09B	3.9×	+1.9×	Dec 31, 2021
2020	$16.77B	$8.76B	1.9×	-0.4×	Dec 31, 2020
2019	$27.93B	$12.16B	2.3×	+0.5×	Dec 31, 2019
2018	$20.44B	$11.11B	1.8×	-0.5×	Dec 31, 2018
2017	$25.51B	$10.70B	2.4×	+0.5×	Dec 31, 2017
2016	$17.60B	$9.12B	1.9×	-0.8×	Dec 31, 2016
2015	$22.13B	$8.06B	2.7×	+0.5×	Dec 31, 2015
2014	$18.19B	$8.28B	2.2×	+1.0×	Dec 31, 2014
2013	$10.44B	$8.81B	1.2×	+0.3×	Dec 31, 2013
2012	$7.42B	$8.31B	0.9×	+0.3×	Dec 31, 2012
2011	$5.38B	$8.41B	0.6×	-0.6×	Dec 31, 2011
2010	$10.14B	$7.94B	1.3×	+0.6×	Dec 31, 2010
2009	$5.41B	$7.50B	0.7×	+0.3×	Dec 31, 2009
2008	$2.94B	$6.80B	0.4×	-0.9×	Dec 31, 2008
2007	$9.04B	$6.76B	1.3×	-0.1×	Dec 31, 2007
2006	$8.75B	$6.09B	1.4×	-0.3×	Dec 31, 2006
2005	$9.41B	$5.55B	1.7×	-0.6×	Dec 31, 2005
2004	$10.89B	$4.80B	2.3×	+0.7×	Dec 31, 2004
2003	$6.80B	$4.26B	1.6×	+0.8×	Dec 31, 2003
2002	$3.22B	$4.03B	0.8×	-0.0×	Dec 31, 2002
2001	$3.12B	$3.76B	0.8×	—	Dec 31, 2001


V.F. (VFC)	3.5×
Carnival Corporation (CCL)	3.3×
Genuine Parts (GPC)	3.3×
Lululemon Athletica (LULU)	3.1×
Ball (BALL)	2.8×
PDD Holdings (PDD)	2.3×
GameStop (GME)	2.0×
XPeng (XPEV)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
PulteGroup (PHM)	1.7×
Amcor (AMCR)	1.7×
D.R. Horton (DHI)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Sonoco Products (SON)	1.5×
Leggett & Platt (LEG)	1.3×
International Paper (IP)	1.3×
Lennar (LEN)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
Smurfit Westrock (SW)	1.1×
General Motors (GM)	1.1×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Royal Caribbean Cruises (RCL)

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

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

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

Royal Caribbean Cruises P/B Ratio by Year

Royal Caribbean Cruises P/B Ratio 2025: 7.5×

Royal Caribbean Cruises P/B Ratio 2024: 8.2×

Royal Caribbean Cruises P/B Ratio 2023: 7.0×

Royal Caribbean Cruises P/B Ratio 2022: 4.4×

Royal Caribbean Cruises P/B Ratio 2021: 3.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Royal Caribbean Cruises (RCL) Key Financials

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

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

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

Royal Caribbean Cruises P/B Ratio by Year

Royal Caribbean Cruises P/B Ratio 2025: 7.5×

Royal Caribbean Cruises P/B Ratio 2024: 8.2×

Royal Caribbean Cruises P/B Ratio 2023: 7.0×

Royal Caribbean Cruises P/B Ratio 2022: 4.4×

Royal Caribbean Cruises P/B Ratio 2021: 3.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

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

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

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

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

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

Royal Caribbean Cruises (RCL) Key Financials