Question 1

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

Accepted Answer

Royal Caribbean Cruises (RCL) P/E ratio is 17.3× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

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

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Royal Caribbean Cruises specifically, the relevant sector benchmark is the current sector median of 21.7×.

Question 5

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

Accepted Answer

Royal Caribbean Cruises's P/E ratio of 17.3× is below its own 5-year average of 19.5× and below the sector median of 21.7×. That places the current reading at the 9th 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/E ratio range?

Accepted Answer

In the available daily series, Royal Caribbean Cruises (RCL) P/E ratio has ranged from a low of 3.7× in 2009 to a high of 405.9× in 2012. The 5-year average is 19.5× and the 5-year median is 17.9×.

Question 7

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

Accepted Answer

Royal Caribbean Cruises (RCL) P/E ratio at the end of 2025 was 17.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$75.6B	$4.27B	17.7×	-3.9×	Dec 31, 2025
2024	$62.1B	$2.88B	21.6×	+2.0×	Dec 31, 2024
2023	$33.1B	$1.7B	19.5×	—	Dec 31, 2023
2022	$12.6B	-$2.16B	—	—	Dec 31, 2022
2021	$19.6B	-$5.26B	—	—	Dec 31, 2021
2020	$16.8B	-$5.8B	—	—	Dec 31, 2020
2019	$27.9B	$1.88B	14.9×	+3.6×	Dec 31, 2019
2018	$20.4B	$1.81B	11.3×	-4.4×	Dec 31, 2018
2017	$25.5B	$1.63B	15.7×	+2.0×	Dec 31, 2017
2016	$17.6B	$1.28B	13.7×	-19.5×	Dec 31, 2016
2015	$22.1B	$666M	33.2×	+9.4×	Dec 31, 2015
2014	$18.2B	$764M	23.8×	+1.8×	Dec 31, 2014
2013	$10.4B	$474M	22.0×	-383.9×	Dec 31, 2013
2012	$7.42B	$18.3M	405.9×	+397.1×	Dec 31, 2012
2011	$5.38B	$607M	8.9×	-10.1×	Dec 31, 2011
2010	$10.1B	$534M	19.0×	-14.3×	Dec 31, 2010
2009	$5.41B	$162M	33.3×	+28.2×	Dec 31, 2009
2008	$2.94B	$574M	5.1×	-9.9×	Dec 31, 2008
2007	$9.04B	$603M	15.0×	+1.2×	Dec 31, 2007
2006	$8.75B	$634M	13.8×	+0.7×	Dec 31, 2006
2005	$9.41B	$716M	13.1×	-9.8×	Dec 31, 2005
2004	$10.9B	$475M	23.0×	-1.3×	Dec 31, 2004
2003	$6.8B	$281M	24.2×	+15.1×	Dec 31, 2003
2002	$3.22B	$351M	9.2×	—	Dec 31, 2002


Ulta Beauty (ULTA)	19.6×
Avery Dennison (AVY)	19.3×
Darden Restaurants (DRI)	19.1×
Williams-Sonoma (WSM)	19.1×
Expedia Group (EXPE)	18.9×
Domino's Pizza (DPZ)	17.7×
Etsy (ETSY)	16.9×
Ball (BALL)	16.8×
GameStop (GME)	15.6×
D.R. Horton (DHI)	15.3×
Norwegian Cruise Line (NCLH)	15.0×
Hasbro (HAS)	15.0×
NVR (NVR)	14.8×
LKQ (LKQ)	14.5×
Mohawk Industries (MHK)	14.3×
Deckers Outdoor (DECK)	13.8×
Lennar (LEN)	13.5×
Weyco Group (WEYS)	12.8×
Carnival Corporation (CCL)	12.4×
KB Home (KBH)	11.7×
Best Buy Co. (BBY)	11.1×
PDD Holdings (PDD)	10.7×
Toll Brothers (TOL)	10.5×
Lululemon Athletica (LULU)	10.2×
Leggett & Platt (LEG)	6.1×

P/E Ratio for Royal Caribbean Cruises (RCL) 2002-2026

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

Historical P/E Ratio for Royal Caribbean Cruises (RCL) from 2002 to 2025

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

Royal Caribbean Cruises P/E Ratio by Year

Royal Caribbean Cruises P/E Ratio 2025: 17.7×

Royal Caribbean Cruises P/E Ratio 2024: 21.6×

Royal Caribbean Cruises P/E Ratio 2023: 19.5×

Royal Caribbean Cruises P/E Ratio 2019: 14.9×

Royal Caribbean Cruises P/E Ratio 2018: 11.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Royal Caribbean Cruises (RCL) Key Financials