Stock Analysis on Net
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) 
Quarterly Data

Microsoft Excel

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)

Royal Caribbean Cruises Ltd., historical price multiples (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Price to earnings (P/E) — — — — — — — — — 49.14 9.96 11.94 12.92 14.31 13.97 12.08 13.85 14.06 17.17 — — —
Price to operating profit (P/OP) — — — — — — — — — 19.84 8.99 10.68 11.61 13.60 13.35 11.72 13.46 13.18 16.00 — — —
Price to sales (P/S) 2.11 7.36 12.26 36.83 213.02 99.11 10.03 2.72 1.55 0.86 1.71 2.13 2.30 2.66 2.66 2.35 2.67 2.60 3.18 — — —
Price to book value (P/BV) 2.91 4.70 3.69 3.33 2.52 2.36 2.53 1.53 1.37 0.89 1.54 1.92 2.07 2.34 2.28 1.90 2.22 2.15 2.61 2.65 2.60 2.47

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

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 decreased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
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 Q4 2021 to Q1 2022 but then decreased significantly from Q1 2022 to Q2 2022.

Price to Earnings (P/E)

Royal Caribbean Cruises Ltd., historical P/E calculation (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
No. shares of common stock outstanding1 255,059,197 254,956,303 255,002,771 254,789,847 254,694,208 254,570,657 237,535,138 224,338,138 214,667,937 209,385,377 209,000,016 209,631,168 209,561,071 209,647,874 209,186,598 208,996,396 208,970,026 211,746,787 213,749,009 214,088,950 215,110,988 215,074,998
Selected Financial Data (US$)
Net income (loss) attributable to Royal Caribbean Cruises Ltd. (in thousands) (521,582) (1,167,142) (1,356,968) (1,424,554) (1,347,255) (1,131,722) (1,366,935) (1,346,756) (1,639,292) (1,444,479) 273,136 883,240 472,830 249,681 315,703 810,391 466,295 218,653 288,039 752,842 369,526 214,726
Earnings per share (EPS)2 -17.53 -20.77 -20.63 -20.69 -20.39 -21.54 -24.41 -18.53 -8.98 0.88 8.99 9.17 8.82 8.79 8.66 8.53 8.26 7.69 7.60 0.00 0.00 0.00
Share price1, 3 38.71 73.59 73.67 84.43 78.10 84.90 93.27 56.98 57.31 43.35 89.55 109.42 113.96 125.77 120.93 103.07 114.35 108.19 130.55 129.23 116.87 106.60
Valuation Ratio
P/E ratio4 — — — — — — — — — 49.14 9.96 11.94 12.92 14.31 13.97 12.08 13.85 14.06 17.17 — — —
Benchmarks
P/E Ratio, Competitors5
Airbnb Inc. 59.77 96.17 — — — — — — — — — — — — — — — — — — — —
Booking Holdings Inc. 50.57 164.32 86.68 261.79 206.85 136.53 1,696.44 51.91 28.20 17.38 14.16 — — — — — — — — — — —
Chipotle Mexican Grill Inc. 55.45 61.35 67.03 69.94 87.74 102.77 122.18 147.85 126.18 72.73 67.72 — — — — — — — — — — —
McDonald’s Corp. 31.53 25.65 24.15 25.57 25.43 33.98 33.31 32.26 31.84 23.20 25.99 — — — — — — — — — — —
Starbucks Corp. 19.34 25.86 30.95 52.55 137.44 185.40 118.26 65.20 27.12 27.92 27.63 32.57 31.03 27.53 18.71 — — — — — — —

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2022 Calculation
EPS = (Net income (loss) attributable to Royal Caribbean Cruises Ltd.Q2 2022 + Net income (loss) attributable to Royal Caribbean Cruises Ltd.Q1 2022 + Net income (loss) attributable to Royal Caribbean Cruises Ltd.Q4 2021 + Net income (loss) attributable to Royal Caribbean Cruises Ltd.Q3 2021) ÷ No. shares of common stock outstanding
= (-521,582,000 + -1,167,142,000 + -1,356,968,000 + -1,424,554,000) ÷ 255,059,197 = -17.53

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

4 Q2 2022 Calculation
P/E ratio = Share price ÷ EPS
= 38.71 ÷ -17.53 = —

5 Click competitor name to see calculations.

Price to Operating Profit (P/OP)

Royal Caribbean Cruises Ltd., historical P/OP calculation (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
No. shares of common stock outstanding1 255,059,197 254,956,303 255,002,771 254,789,847 254,694,208 254,570,657 237,535,138 224,338,138 214,667,937 209,385,377 209,000,016 209,631,168 209,561,071 209,647,874 209,186,598 208,996,396 208,970,026 211,746,787 213,749,009 214,088,950 215,110,988 215,074,998
Selected Financial Data (US$)
Operating income (loss) (in thousands) (218,644) (859,208) (1,031,745) (1,005,824) (1,023,534) (809,231) (1,016,549) (996,114) (1,282,487) (1,306,407) 299,425 890,792 573,653 318,831 364,027 799,733 456,895 274,146 307,349 737,488 419,697 279,522
Operating profit per share2 -12.21 -15.38 -15.18 -15.13 -15.10 -16.12 -19.37 -14.65 -6.52 2.18 9.97 10.24 9.81 9.25 9.06 8.79 8.50 8.21 8.16 0.00 0.00 0.00
Share price1, 3 38.71 73.59 73.67 84.43 78.10 84.90 93.27 56.98 57.31 43.35 89.55 109.42 113.96 125.77 120.93 103.07 114.35 108.19 130.55 129.23 116.87 106.60
Valuation Ratio
P/OP ratio4 — — — — — — — — — 19.84 8.99 10.68 11.61 13.60 13.35 11.72 13.46 13.18 16.00 — — —
Benchmarks
P/OP Ratio, Competitors5
Airbnb Inc. 57.78 88.47 232.24 — — — — — — — — — — — — — — — — — — —
Booking Holdings Inc. 19.34 28.66 40.46 66.89 — — — 104.35 26.09 13.19 12.89 — — — — — — — — — — —
Chipotle Mexican Grill Inc. 45.28 50.34 54.38 65.08 81.53 109.79 149.81 129.22 115.18 60.79 53.41 — — — — — — — — — — —
McDonald’s Corp. 20.38 17.56 17.59 18.44 18.19 22.17 21.51 21.26 20.65 15.53 17.27 — — — — — — — — — — —
Starbucks Corp. 16.72 22.12 26.68 37.64 77.96 98.18 70.29 41.82 23.50 24.29 24.39 29.28 24.32 22.04 21.78 — — — — — — —

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2022 Calculation
Operating profit per share = (Operating income (loss)Q2 2022 + Operating income (loss)Q1 2022 + Operating income (loss)Q4 2021 + Operating income (loss)Q3 2021) ÷ No. shares of common stock outstanding
= (-218,644,000 + -859,208,000 + -1,031,745,000 + -1,005,824,000) ÷ 255,059,197 = -12.21

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

4 Q2 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 38.71 ÷ -12.21 = —

5 Click competitor name to see calculations.

Price to Sales (P/S)

Royal Caribbean Cruises Ltd., historical P/S calculation (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
No. shares of common stock outstanding1 255,059,197 254,956,303 255,002,771 254,789,847 254,694,208 254,570,657 237,535,138 224,338,138 214,667,937 209,385,377 209,000,016 209,631,168 209,561,071 209,647,874 209,186,598 208,996,396 208,970,026 211,746,787 213,749,009 214,088,950 215,110,988 215,074,998
Selected Financial Data (US$)
Revenues (in thousands) 2,184,242 1,059,231 982,247 456,958 50,914 42,014 34,138 (33,688) 175,605 2,032,750 2,517,413 3,186,850 2,806,631 2,439,767 2,332,301 2,796,187 2,337,605 2,027,756 2,004,467 2,569,544 2,195,274 2,008,560
Sales per share2 18.36 10.00 6.01 2.29 0.37 0.86 9.30 20.92 36.86 50.36 52.40 51.35 49.51 47.25 45.38 43.86 42.78 41.55 41.07 0.00 0.00 0.00
Share price1, 3 38.71 73.59 73.67 84.43 78.10 84.90 93.27 56.98 57.31 43.35 89.55 109.42 113.96 125.77 120.93 103.07 114.35 108.19 130.55 129.23 116.87 106.60
Valuation Ratio
P/S ratio4 2.11 7.36 12.26 36.83 213.02 99.11 10.03 2.72 1.55 0.86 1.71 2.13 2.30 2.66 2.66 2.35 2.67 2.60 3.18 — — —
Benchmarks
P/S Ratio, Competitors5
Airbnb Inc. 10.11 11.65 16.64 — — — — — — — — — — — — — — — — — — —
Booking Holdings Inc. 5.33 6.83 9.22 10.85 11.93 16.99 14.73 8.14 6.35 4.07 4.57 — — — — — — — — — — —
Chipotle Mexican Grill Inc. 5.15 5.36 5.80 6.91 7.52 6.61 7.26 6.03 5.74 4.33 4.24 — — — — — — — — — — —
McDonald’s Corp. 8.13 7.68 7.85 8.27 8.07 8.94 8.20 8.26 7.89 6.46 7.43 — — — — — — — — — — —
Starbucks Corp. 2.72 3.74 4.47 5.48 5.74 5.32 4.67 3.63 3.45 3.86 3.75 4.44 3.68 3.30 3.42 — — — — — — —

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2022 Calculation
Sales per share = (RevenuesQ2 2022 + RevenuesQ1 2022 + RevenuesQ4 2021 + RevenuesQ3 2021) ÷ No. shares of common stock outstanding
= (2,184,242,000 + 1,059,231,000 + 982,247,000 + 456,958,000) ÷ 255,059,197 = 18.36

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

4 Q2 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= 38.71 ÷ 18.36 = 2.11

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 decreased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Price to Book Value (P/BV)

Royal Caribbean Cruises Ltd., historical P/BV calculation (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
No. shares of common stock outstanding1 255,059,197 254,956,303 255,002,771 254,789,847 254,694,208 254,570,657 237,535,138 224,338,138 214,667,937 209,385,377 209,000,016 209,631,168 209,561,071 209,647,874 209,186,598 208,996,396 208,970,026 211,746,787 213,749,009 214,088,950 215,110,988 215,074,998
Selected Financial Data (US$)
Shareholders’ equity (in thousands) 3,398,098 3,988,928 5,085,556 6,467,498 7,884,015 9,172,382 8,760,669 8,328,594 8,963,905 10,231,775 12,163,846 11,976,907 11,538,403 11,269,070 11,105,461 11,338,135 10,773,698 10,646,796 10,702,303 10,435,488 9,683,408 9,266,830
Book value per share (BVPS)2 13.32 15.65 19.94 25.38 30.95 36.03 36.88 37.13 41.76 48.87 58.20 57.13 55.06 53.75 53.09 54.25 51.56 50.28 50.07 48.74 45.02 43.09
Share price1, 3 38.71 73.59 73.67 84.43 78.10 84.90 93.27 56.98 57.31 43.35 89.55 109.42 113.96 125.77 120.93 103.07 114.35 108.19 130.55 129.23 116.87 106.60
Valuation Ratio
P/BV ratio4 2.91 4.70 3.69 3.33 2.52 2.36 2.53 1.53 1.37 0.89 1.54 1.92 2.07 2.34 2.28 1.90 2.22 2.15 2.61 2.65 2.60 2.47
Benchmarks
P/BV Ratio, Competitors5
Airbnb Inc. 14.23 16.27 20.88 28.80 28.30 27.60 — — — — — — — — — — — — — — — —
Booking Holdings Inc. 19.51 19.54 16.35 18.03 17.84 20.15 20.46 14.74 17.94 15.43 11.61 13.01 14.59 10.87 — — — — — — — —
Chipotle Mexican Grill Inc. 19.46 19.67 19.05 21.50 23.66 19.92 21.52 19.42 18.92 14.72 14.09 13.50 14.02 12.66 — — — — — — — —
McDonald’s Corp. — — — — — — — — — — — — — — — — — — — — — —
Starbucks Corp. — — — — — — — — — — — — — — 72.30 17.71 17.03 13.88 — — — —

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2022 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 3,398,098,000 ÷ 255,059,197 = 13.32

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

4 Q2 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= 38.71 ÷ 13.32 = 2.91

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 Q4 2021 to Q1 2022 but then decreased significantly from Q1 2022 to Q2 2022.