Royal Caribbean Cruises Ltd
Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 12, 2025, it operated 67 ships. Royal Caribbean Cruises Ltd. was founded in 1968 and is headquartered in Miami, Florida.
Royal Caribbean Cruises Ltd (RCL) - Net Assets
Latest net assets as of September 2025: $10.29 Billion USD
Based on the latest financial reports, Royal Caribbean Cruises Ltd (RCL) has net assets worth $10.29 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($40.11 Billion) and total liabilities ($29.82 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $10.29 Billion |
| % of Total Assets | 25.65% |
| Annual Growth Rate | 9.36% |
| 5-Year Change | -11.71% |
| 10-Year Change | -4.07% |
| Growth Volatility | 26.23 |
Royal Caribbean Cruises Ltd - Net Assets Trend (1991–2024)
This chart illustrates how Royal Caribbean Cruises Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Royal Caribbean Cruises Ltd (1991–2024)
The table below shows the annual net assets of Royal Caribbean Cruises Ltd from 1991 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $7.74 Billion | +57.89% |
| 2023-12-31 | $4.90 Billion | +70.76% |
| 2022-12-31 | $2.87 Billion | -43.59% |
| 2021-12-31 | $5.09 Billion | -41.95% |
| 2020-12-31 | $8.76 Billion | -31.20% |
| 2019-12-31 | $12.73 Billion | +9.33% |
| 2018-12-31 | $11.65 Billion | +8.83% |
| 2017-12-31 | $10.70 Billion | +17.33% |
| 2016-12-31 | $9.12 Billion | +13.13% |
| 2015-12-31 | $8.06 Billion | -2.67% |
| 2014-12-31 | $8.28 Billion | -5.95% |
| 2013-12-31 | $8.81 Billion | +6.01% |
| 2012-12-31 | $8.31 Billion | -1.18% |
| 2011-12-31 | $8.41 Billion | +5.86% |
| 2010-12-31 | $7.94 Billion | +5.90% |
| 2009-12-31 | $7.50 Billion | +10.24% |
| 2008-12-31 | $6.80 Billion | +0.68% |
| 2007-12-31 | $6.76 Billion | +10.93% |
| 2006-12-31 | $6.09 Billion | +9.67% |
| 2005-12-31 | $5.55 Billion | +15.61% |
| 2004-12-31 | $4.80 Billion | +12.71% |
| 2003-12-31 | $4.26 Billion | +5.66% |
| 2002-12-31 | $4.03 Billion | +7.40% |
| 2001-12-31 | $3.76 Billion | +3.89% |
| 2000-12-31 | $3.62 Billion | +10.88% |
| 1999-12-31 | $3.26 Billion | +32.85% |
| 1998-12-31 | $2.45 Billion | +21.60% |
| 1997-12-31 | $2.02 Billion | +86.07% |
| 1996-12-31 | $1.08 Billion | +12.41% |
| 1995-12-31 | $965.10 Million | +14.13% |
| 1994-12-31 | $845.60 Million | +15.39% |
| 1993-12-31 | $732.80 Million | +57.76% |
| 1992-12-31 | $464.50 Million | +15.00% |
| 1991-12-31 | $403.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Royal Caribbean Cruises Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 4737.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.61 Billion | 34.54% |
| Common Stock | $3.00 Million | 0.04% |
| Other Comprehensive Income | $-802.00 Million | -10.60% |
| Other Components | $5.75 Billion | 76.03% |
| Total Equity | $7.56 Billion | 100.00% |
Royal Caribbean Cruises Ltd Competitors by Market Cap
The table below lists competitors of Royal Caribbean Cruises Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Münchener Rück AG
XETRA:MUV2
|
$71.95 Billion |
|
Barrick Mining Corporation
NYSE:B
|
$71.96 Billion |
|
Royal Caribbean Group
LSE:0I1W
|
$72.15 Billion |
|
Moodys Corporation
NYSE:MCO
|
$72.19 Billion |
|
Marvell Technology Group Ltd
NASDAQ:MRVL
|
$71.74 Billion |
|
CN YANGT.PWR GDR REG S/A
F:CYZB
|
$71.71 Billion |
|
American Electric Power Co Inc
NASDAQ:AEP
|
$71.56 Billion |
|
GSK plc
PINK:GLAXF
|
$71.18 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Royal Caribbean Cruises Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,724,000,000 to 7,563,000,000, a change of 2,839,000,000 (60.1%).
- Net income of 2,877,000,000 contributed positively to equity growth.
- Dividend payments of 107,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 128,000,000.
- Other factors increased equity by 197,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.88 Billion | +38.04% |
| Dividends Paid | $107.00 Million | -1.41% |
| Other Comprehensive Income | $-128.00 Million | -1.69% |
| Other Changes | $197.00 Million | +2.6% |
| Total Change | $- | 60.10% |
Book Value vs Market Value Analysis
This analysis compares Royal Caribbean Cruises Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 10.25x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 73.96x to 10.25x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1991-12-31 | $3.76 | $277.90 | x |
| 1992-12-31 | $4.52 | $277.90 | x |
| 1993-12-31 | $6.18 | $277.90 | x |
| 1994-12-31 | $6.69 | $277.90 | x |
| 1995-12-31 | $7.58 | $277.90 | x |
| 1996-12-31 | $8.48 | $277.90 | x |
| 1997-12-31 | $13.14 | $277.90 | x |
| 1998-12-31 | $13.58 | $277.90 | x |
| 1999-12-31 | $17.50 | $277.90 | x |
| 2000-12-31 | $18.75 | $277.90 | x |
| 2001-12-31 | $19.49 | $277.90 | x |
| 2002-12-31 | $20.56 | $277.90 | x |
| 2003-12-31 | $21.57 | $277.90 | x |
| 2004-12-31 | $22.87 | $277.90 | x |
| 2005-12-31 | $25.29 | $277.90 | x |
| 2006-12-31 | $28.25 | $277.90 | x |
| 2007-12-31 | $31.58 | $277.90 | x |
| 2008-12-31 | $31.76 | $277.90 | x |
| 2009-12-31 | $34.83 | $277.90 | x |
| 2010-12-31 | $36.48 | $277.90 | x |
| 2011-12-31 | $38.35 | $277.90 | x |
| 2012-12-31 | $37.86 | $277.90 | x |
| 2013-12-31 | $39.87 | $277.90 | x |
| 2014-12-31 | $37.14 | $277.90 | x |
| 2015-12-31 | $36.54 | $277.90 | x |
| 2016-12-31 | $42.17 | $277.90 | x |
| 2017-12-31 | $49.62 | $277.90 | x |
| 2018-12-31 | $52.49 | $277.90 | x |
| 2019-12-31 | $57.94 | $277.90 | x |
| 2020-12-31 | $40.87 | $277.90 | x |
| 2021-12-31 | $20.20 | $277.90 | x |
| 2022-12-31 | $11.25 | $277.90 | x |
| 2023-12-31 | $16.69 | $277.90 | x |
| 2024-12-31 | $27.11 | $277.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Royal Caribbean Cruises Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 38.04%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 17.45%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 4.90x
- Recent ROE (38.04%) is above the historical average (3.59%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1991 | 1.06% | 0.57% | 0.47x | 4.04x | $-36.09 Million |
| 1992 | 13.05% | 5.98% | 0.55x | 3.96x | $14.15 Million |
| 1993 | 14.56% | 9.59% | 0.61x | 2.47x | $33.42 Million |
| 1994 | 16.15% | 11.66% | 0.63x | 2.21x | $52.04 Million |
| 1995 | 15.44% | 12.58% | 0.54x | 2.28x | $52.49 Million |
| 1996 | 13.91% | 11.12% | 0.48x | 2.62x | $42.41 Million |
| 1997 | 8.67% | 9.03% | 0.36x | 2.65x | $-26.77 Million |
| 1998 | 13.47% | 12.55% | 0.46x | 2.32x | $85.29 Million |
| 1999 | 11.77% | 15.08% | 0.40x | 1.96x | $57.74 Million |
| 2000 | 12.32% | 15.54% | 0.37x | 2.17x | $83.77 Million |
| 2001 | 6.77% | 8.09% | 0.30x | 2.76x | $-121.20 Million |
| 2002 | 8.71% | 10.23% | 0.33x | 2.61x | $-52.19 Million |
| 2003 | 6.58% | 7.42% | 0.33x | 2.66x | $-145.63 Million |
| 2004 | 9.88% | 10.42% | 0.38x | 2.49x | $-5.76 Million |
| 2005 | 12.89% | 14.60% | 0.44x | 2.03x | $160.51 Million |
| 2006 | 10.41% | 12.12% | 0.39x | 2.20x | $24.76 Million |
| 2007 | 8.93% | 9.81% | 0.41x | 2.22x | $-72.33 Million |
| 2008 | 8.43% | 8.78% | 0.40x | 2.42x | $-106.58 Million |
| 2009 | 2.17% | 2.76% | 0.32x | 2.43x | $-587.55 Million |
| 2010 | 6.49% | 7.64% | 0.34x | 2.48x | $-278.60 Million |
| 2011 | 7.22% | 8.06% | 0.38x | 2.36x | $-233.36 Million |
| 2012 | 0.22% | 0.24% | 0.39x | 2.39x | $-812.59 Million |
| 2013 | 5.38% | 5.95% | 0.40x | 2.28x | $-407.13 Million |
| 2014 | 9.22% | 9.46% | 0.39x | 2.50x | $-64.29 Million |
| 2015 | 8.26% | 8.02% | 0.40x | 2.58x | $-140.52 Million |
| 2016 | 14.07% | 15.11% | 0.38x | 2.45x | $371.25 Million |
| 2017 | 15.18% | 18.51% | 0.39x | 2.09x | $554.90 Million |
| 2018 | 16.31% | 19.08% | 0.34x | 2.49x | $700.50 Million |
| 2019 | 15.45% | 17.16% | 0.36x | 2.49x | $662.50 Million |
| 2020 | -66.18% | -262.47% | 0.07x | 3.71x | $-6.67 Billion |
| 2021 | -103.43% | -343.34% | 0.05x | 6.34x | $-5.77 Billion |
| 2022 | -75.15% | -24.39% | 0.26x | 11.77x | $-2.44 Billion |
| 2023 | 35.92% | 12.21% | 0.40x | 7.44x | $1.22 Billion |
| 2024 | 38.04% | 17.45% | 0.44x | 4.90x | $2.12 Billion |
Industry Comparison
This section compares Royal Caribbean Cruises Ltd's net assets metrics with peer companies in the Travel Services industry.
Industry Context
- Industry: Travel Services
- Average net assets among peers: $1,526,974,464
- Average return on equity (ROE) among peers: -30.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Royal Caribbean Cruises Ltd (RCL) | $10.29 Billion | 1.06% | 2.90x | $71.80 Billion |
| Airbnb Inc (ABNB) | $-517.31 Million | 0.00% | 0.00x | $53.81 Billion |
| Ambitions Enterprise Management Co. L.L.C Class A Ordinary Shares (AHMA) | $4.00 Million | 32.27% | 1.02x | $9.98 Million |
| Booking Holdings Inc (BKNG) | $402.60 Million | -262.07% | 0.10x | $140.30 Billion |
| Carnival Corporation (CCL) | $13.79 Billion | 8.61% | 0.78x | $32.20 Billion |
| Consolidated Capital of North America Inc (CDNO) | $93.27K | 0.00% | 0.02x | $8.78 |
| Carnival Plc ADS (CUK) | $207.80 Million | 47.02% | 1.54x | $32.14 Billion |
| Carnival Corporation & plc (CUKPF) | $893.20 Million | 21.67% | 1.49x | $18.29 Billion |
| Despegar.com Corp (DESP) | $92.85 Million | -151.47% | 8.10x | $1.36 Billion |
| Jet2 plc (DRTGF) | $157.20 Million | 20.87% | 5.37x | $2.31 Billion |
| eDreams ODIGEO S.A (EDDRF) | $236.30 Million | -18.34% | 3.54x | $429.02 Million |