Stock Analysis on Net

Royal Caribbean Cruises Ltd. (NYSE:RCL)

This company has been moved to the archive! The financial data has not been updated since July 29, 2022.

Common Stock Valuation Ratios (Price Multiples)

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Current Valuation Ratios

Royal Caribbean Cruises Ltd., current price multiples

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Royal Caribbean Cruises Ltd. Airbnb Inc. Booking Holdings Inc. Chipotle Mexican Grill Inc. McDonald’s Corp. Starbucks Corp. Consumer Services Consumer Discretionary
Selected Financial Data
Current share price (P) $38.71
No. shares of common stock outstanding 255,059,197
 
Earnings per share (EPS) $-20.62
Operating profit per share $-15.17
Sales per share $6.01
Book value per share (BVPS) $19.94
Valuation Ratios (Price Multiples)
Price to sales (P/S) 6.44 9.12 7.75 0.01 8.27 3.03 7.50 4.02
Price to book value (P/BV) 1.94 11.07 0.03 172.97 15.04

Based on: 10-K (reporting date: 2021-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Royal Caribbean Cruises Ltd., historical price multiples

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Price to earnings (P/E) 9.96 13.97 17.17
Price to operating profit (P/OP) 8.99 13.35 16.00
Price to sales (P/S) 12.26 10.03 1.71 2.66 3.18
Price to book value (P/BV) 3.69 2.53 1.54 2.28 2.61

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Royal Caribbean Cruises Ltd. P/S ratio increased from 2019 to 2020 and from 2020 to 2021.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Royal Caribbean Cruises Ltd. P/BV ratio increased from 2019 to 2020 and from 2020 to 2021.

Price to Earnings (P/E)

Royal Caribbean Cruises Ltd., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 255,002,771 237,535,138 209,000,016 209,186,598 213,749,009
Selected Financial Data (US$)
Net income (loss) attributable to Royal Caribbean Cruises Ltd. (in thousands) (5,260,499) (5,797,462) 1,878,887 1,811,042 1,625,133
Earnings per share (EPS)2 -20.63 -24.41 8.99 8.66 7.60
Share price1, 3 73.67 93.27 89.55 120.93 130.55
Valuation Ratio
P/E ratio4 9.96 13.97 17.17
Benchmarks
P/E Ratio, Competitors5
Airbnb Inc.
Booking Holdings Inc. 86.68 1,696.44 14.16
Chipotle Mexican Grill Inc. 67.03 122.18 67.72
McDonald’s Corp. 24.15 33.31 25.99
Starbucks Corp. 30.95 118.26 27.63 18.71
P/E Ratio, Sector
Consumer Services 42.14 360.30 23.50
P/E Ratio, Industry
Consumer Discretionary 38.75 72.10 39.37

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 2021 Calculation
EPS = Net income (loss) attributable to Royal Caribbean Cruises Ltd. ÷ No. shares of common stock outstanding
= -5,260,499,000 ÷ 255,002,771 = -20.63

3 Closing price as at the filing date of Royal Caribbean Cruises Ltd. Annual Report.

4 2021 Calculation
P/E ratio = Share price ÷ EPS
= 73.67 ÷ -20.63 =

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

Royal Caribbean Cruises Ltd., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 255,002,771 237,535,138 209,000,016 209,186,598 213,749,009
Selected Financial Data (US$)
Operating income (loss) (in thousands) (3,870,334) (4,601,557) 2,082,701 1,894,801 1,744,056
Operating profit per share2 -15.18 -19.37 9.97 9.06 8.16
Share price1, 3 73.67 93.27 89.55 120.93 130.55
Valuation Ratio
P/OP ratio4 8.99 13.35 16.00
Benchmarks
P/OP Ratio, Competitors5
Airbnb Inc. 232.24
Booking Holdings Inc. 40.46 12.89
Chipotle Mexican Grill Inc. 54.38 149.81 53.41
McDonald’s Corp. 17.59 21.51 17.27
Starbucks Corp. 26.68 70.29 24.39 21.78
P/OP Ratio, Sector
Consumer Services 29.36 108.27 18.41
P/OP Ratio, Industry
Consumer Discretionary 40.49 58.11 30.48

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 2021 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= -3,870,334,000 ÷ 255,002,771 = -15.18

3 Closing price as at the filing date of Royal Caribbean Cruises Ltd. Annual Report.

4 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 73.67 ÷ -15.18 =

5 Click competitor name to see calculations.


Price to Sales (P/S)

Royal Caribbean Cruises Ltd., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 255,002,771 237,535,138 209,000,016 209,186,598 213,749,009
Selected Financial Data (US$)
Revenues (in thousands) 1,532,133 2,208,805 10,950,661 9,493,849 8,777,845
Sales per share2 6.01 9.30 52.40 45.38 41.07
Share price1, 3 73.67 93.27 89.55 120.93 130.55
Valuation Ratio
P/S ratio4 12.26 10.03 1.71 2.66 3.18
Benchmarks
P/S Ratio, Competitors5
Airbnb Inc. 16.64 37.16
Booking Holdings Inc. 9.22 14.73 4.57
Chipotle Mexican Grill Inc. 5.80 7.26 4.24
McDonald’s Corp. 7.85 8.20 7.43
Starbucks Corp. 4.47 4.67 3.75 3.42
P/S Ratio, Sector
Consumer Services 7.25 9.11 5.11
P/S Ratio, Industry
Consumer Discretionary 3.56 3.77 2.33

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 2021 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= 1,532,133,000 ÷ 255,002,771 = 6.01

3 Closing price as at the filing date of Royal Caribbean Cruises Ltd. Annual Report.

4 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 73.67 ÷ 6.01 = 12.26

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Royal Caribbean Cruises Ltd. P/S ratio increased from 2019 to 2020 and from 2020 to 2021.

Price to Book Value (P/BV)

Royal Caribbean Cruises Ltd., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 255,002,771 237,535,138 209,000,016 209,186,598 213,749,009
Selected Financial Data (US$)
Shareholders’ equity (in thousands) 5,085,556 8,760,669 12,163,846 11,105,461 10,702,303
Book value per share (BVPS)2 19.94 36.88 58.20 53.09 50.07
Share price1, 3 73.67 93.27 89.55 120.93 130.55
Valuation Ratio
P/BV ratio4 3.69 2.53 1.54 2.28 2.61
Benchmarks
P/BV Ratio, Competitors5
Airbnb Inc. 20.88 43.27
Booking Holdings Inc. 16.35 20.46 11.61
Chipotle Mexican Grill Inc. 19.05 21.52 14.09
McDonald’s Corp.
Starbucks Corp. 72.30
P/BV Ratio, Sector
Consumer Services 167.21
P/BV Ratio, Industry
Consumer Discretionary 13.30 18.17 13.59

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 2021 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 5,085,556,000 ÷ 255,002,771 = 19.94

3 Closing price as at the filing date of Royal Caribbean Cruises Ltd. Annual Report.

4 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 73.67 ÷ 19.94 = 3.69

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Royal Caribbean Cruises Ltd. P/BV ratio increased from 2019 to 2020 and from 2020 to 2021.