Royal Caribbean Cruises Ltd (RCL) — Capital Reinvestment Ratio
Royal Caribbean Cruises Ltd (RCL) has a Capital Reinvestment Ratio of 0.27x as of March 2026, meaning it reinvests 0% of its operating cash flow ($1.83 Billion) in capital expenditures ($500.00 Million). See Royal Caribbean Cruises Ltd free cash flow efficiency to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Royal Caribbean Cruises Ltd Capital Reinvestment Ratio (1991–2025)
This chart tracks Royal Caribbean Cruises Ltd's Capital Reinvestment Ratio across 33 annual periods.
Annual Capital Reinvestment Ratio for Royal Caribbean Cruises Ltd (1991–2025)
Year-by-year Capital Reinvestment Ratio for Royal Caribbean Cruises Ltd from 1991 to 2025. For live market cap and broader valuation context, see Royal Caribbean Cruises Ltd (RCL) market capitalisation.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.81x | $6.46 Billion | $5.23 Billion | ▲ +30.3% |
| 2024 | 0.62x | $5.26 Billion | $3.27 Billion | ▼ -28.7% |
| 2023 | 0.87x | $4.48 Billion | $3.90 Billion | ▼ -84.6% |
| 2022 | 5.63x | $481.00 Million | $2.71 Billion | ▲ +592.3% |
| 2019 | 0.81x | $3.72 Billion | $3.02 Billion | ▼ -22.6% |
| 2018 | 1.05x | $3.48 Billion | $3.66 Billion | ▲ +436.0% |
| 2017 | 0.20x | $2.87 Billion | $564.14 Million | ▼ -80.2% |
| 2016 | 0.99x | $2.52 Billion | $2.49 Billion | ▲ +19.6% |
| 2015 | 0.83x | $1.95 Billion | $1.61 Billion | ▼ -20.2% |
| 2014 | 1.04x | $1.74 Billion | $1.81 Billion | ▲ +92.1% |
| 2013 | 0.54x | $1.41 Billion | $763.78 Million | ▼ -42.1% |
| 2012 | 0.93x | $1.38 Billion | $1.29 Billion | ▲ +15.9% |
| 2011 | 0.81x | $1.46 Billion | $1.17 Billion | ▼ -38.7% |
| 2010 | 1.32x | $1.66 Billion | $2.19 Billion | ▼ -55.2% |
| 2009 | 2.93x | $844.88 Million | $2.48 Billion | ▲ +41.3% |
| 2008 | 2.08x | $1.07 Billion | $2.22 Billion | ▲ +99.9% |
| 2007 | 1.04x | $1.27 Billion | $1.32 Billion | ▼ -16.6% |
| 2006 | 1.24x | $948.51 Million | $1.18 Billion | ▲ +221.8% |
| 2005 | 0.39x | $1.11 Billion | $429.90 Million | ▼ -33.9% |
| 2004 | 0.59x | $1.08 Billion | $630.67 Million | ▼ -51.2% |
| 2003 | 1.20x | $857.80 Million | $1.03 Billion | ▲ +51.4% |
| 2002 | 0.79x | $870.47 Million | $689.99 Million | ▼ -71.1% |
| 2001 | 2.74x | $633.69 Million | $1.74 Billion | ▲ +50.0% |
| 2000 | 1.83x | $703.32 Million | $1.29 Billion | ▲ +9.7% |
| 1999 | 1.67x | $583.36 Million | $972.48 Million | ▲ +34.8% |
| 1998 | 1.24x | $526.86 Million | $651.45 Million | ▼ -57.4% |
| 1997 | 2.90x | $434.10 Million | $1.26 Billion | ▲ +20.2% |
| 1996 | 2.41x | $299.50 Million | $722.40 Million | ▲ +26.7% |
| 1995 | 1.90x | $224.60 Million | $427.50 Million | ▲ +184.5% |
| 1994 | 0.67x | $217.50 Million | $145.50 Million | ▲ +80.6% |
| 1993 | 0.37x | $217.30 Million | $80.50 Million | ▼ -76.2% |
| 1992 | 1.55x | $172.50 Million | $268.20 Million | ▼ -69.2% |
| 1991 | 5.05x | $78.70 Million | $397.60 Million | — |