Royal Caribbean Cruises Ltd (RCL) — Cash Flow Quality Index
Royal Caribbean Cruises Ltd (RCL) has a Cash Flow Quality Index of 1.63x as of June 2026. Operating cash flow of $1.86 Billion exceeds net income of $1.14 Billion, indicating high earnings quality where cash backs reported profits. Explore RCL operating cash flow to total debt to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Royal Caribbean Cruises Ltd Cash Flow Quality Index (1991–2025)
Historical Cash Flow Quality Index for Royal Caribbean Cruises Ltd across 32 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see RCL cash flow metrics.
Annual Cash Flow Quality Index for Royal Caribbean Cruises Ltd (1991–2025)
Year-by-year earnings quality comparison for Royal Caribbean Cruises Ltd.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.51x | $6.46 Billion | $4.29 Billion | ▼ -17.1% |
| 2024 | 1.82x | $5.26 Billion | $2.90 Billion | ▼ -30.8% |
| 2023 | 2.63x | $4.48 Billion | $1.70 Billion | ▲ +34.9% |
| 2019 | 1.95x | $3.72 Billion | $1.91 Billion | ▲ +1.7% |
| 2018 | 1.92x | $3.48 Billion | $1.82 Billion | ▲ +8.3% |
| 2017 | 1.77x | $2.87 Billion | $1.63 Billion | ▼ -9.8% |
| 2016 | 1.96x | $2.52 Billion | $1.28 Billion | ▼ -32.9% |
| 2015 | 2.92x | $1.95 Billion | $665.78 Million | ▲ +28.1% |
| 2014 | 2.28x | $1.74 Billion | $764.15 Million | ▼ -23.4% |
| 2013 | 2.98x | $1.41 Billion | $473.69 Million | ▼ -96.1% |
| 2012 | 75.56x | $1.38 Billion | $18.29 Million | ▲ +3052.7% |
| 2011 | 2.40x | $1.46 Billion | $607.42 Million | ▼ -25.7% |
| 2010 | 3.23x | $1.66 Billion | $515.65 Million | ▼ -38.0% |
| 2009 | 5.20x | $844.88 Million | $162.42 Million | ▲ +178.6% |
| 2008 | 1.87x | $1.07 Billion | $573.72 Million | ▼ -11.2% |
| 2007 | 2.10x | $1.27 Billion | $603.40 Million | ▲ +40.5% |
| 2006 | 1.50x | $948.51 Million | $633.92 Million | ▼ -3.6% |
| 2005 | 1.55x | $1.11 Billion | $715.96 Million | ▼ -31.6% |
| 2004 | 2.27x | $1.08 Billion | $474.69 Million | ▼ -25.8% |
| 2003 | 3.06x | $857.80 Million | $280.66 Million | ▲ +23.3% |
| 2002 | 2.48x | $870.47 Million | $351.28 Million | ▼ -0.5% |
| 2001 | 2.49x | $633.69 Million | $254.46 Million | ▲ +57.7% |
| 2000 | 1.58x | $703.32 Million | $445.36 Million | ▲ +3.9% |
| 1999 | 1.52x | $583.36 Million | $383.85 Million | ▼ -13.5% |
| 1998 | 1.76x | $526.86 Million | $299.74 Million | ▼ -28.1% |
| 1997 | 2.45x | $434.10 Million | $177.50 Million | ▲ +23.2% |
| 1996 | 1.98x | $299.50 Million | $150.90 Million | ▲ +31.7% |
| 1995 | 1.51x | $224.60 Million | $149.00 Million | ▼ -1.4% |
| 1994 | 1.53x | $217.50 Million | $142.30 Million | ▼ -24.9% |
| 1993 | 2.04x | $217.30 Million | $106.70 Million | ▼ -28.5% |
| 1992 | 2.85x | $172.50 Million | $60.60 Million | ▼ -84.4% |
| 1991 | 18.30x | $78.70 Million | $4.30 Million | — |