Recent News
May 5, 2026 — The company declared a quarterly dividend of $1.50 per share payable July 2, 2026. April 28, 2026 — Royal Caribbean announced deployment of free Starlink high-speed, low-latency internet in Juneau. May 21, 2026 — Royal Caribbean named Exit Glacier Greenhouses a 2026 “Port Partners” small-business accelerator awardee. June 10, 2026 — Royal Caribbean officially welcomed the Legend of the Seas to its fleet.
Technical Analysis
Directional indicators show competing impulses: ADX at 12.07 signals no established trend, while DI+ peaked and reversed — a bearish directional change — and DI- decreased, which typically signals bullish pressure; together these read as short-term directional conflict that favors consolidation under low trend strength.
MACD sits negative at -0.51 with a decreasing trend and a signal line at 1.80; that configuration denotes weakening momentum and favors downward pressure on price momentum versus prior strength.
MRO registers 22.26 and is decreasing; because the oscillator is positive, price sits above WMDST’s target framework and therefore carries potential to correct downward toward value-adjusted levels absent fresh bullish momentum.
RSI near 49.2 with a recent dip-and-reversal indicates a local recovery from oversold intraday impulses but lacks expansion into bullish territory; RSI behavior complements a consolidation bias rather than a breakout setup.
Price sits at $286.16, just below the 12-day and 26-day EMAs (price12day EMA $290.84, price26day EMA $292.22) and essentially aligned with the 20-day average $291.11 and 200-day average $284.34. Bollinger band spacing (±1σ around $291.11 with ±1σ bounds ~$279.86–$302.35) and a super trend upper at $310.25 suggest limited immediate upside room and a structural range between the mid-$260s and low-$310s unless momentum indicators turn decisively bullish.
Fundamental Analysis
Operating profit measures reveal profitability well above peers: EBIT margin equals 28.17%, substantially above the industry peer mean (~9.887%) and industry peer high (~17.066%). QoQ EBIT margin improved by 7.76 percentage points and YoY rose 14.24 percentage points, underscoring notable margin expansion versus prior periods.
Revenue totaled $4,452,000,000 with reported revenue growth of 4.56% year-over-year, but the provided QoQ revenue change shows a -126.58% figure; on balance, YoY revenue contracted by 28.00%, indicating volatile top-line comparisons across periods and seasonality effects that pressure near-term topline momentum.
Cash generation stands firm: operating cash flow $1,290,000,000 and free cash flow $1,334,000,000 produce a free cash flow yield of 1.77%, above the industry peer mean of roughly 1.04%. Free cash flow grew 32.83% YoY but fell QoQ by 10.40%.
Leverage and liquidity present offsetting risks. Net debt equals $20.602 billion and debt-to-EBITDA reads 12.71x, a high leverage multiple that elevates sensitivity to margin or volume shocks. Interest coverage at 4.51x sits above the industry peer mean (~1.98x) and eases short-term coverage pressure, while current ratio and quick ratio (0.20 and 0.17) remain below typical short-term coverage norms and below the industry peer mean/median, indicating tight near-term liquidity despite cash balances of $512,000,000.
Valuation metrics show market-implied premium: trailing P/E around 78.13 and P/B about 7.69, both above peer medians; forward P/E about 58.15 also exceeds the industry peer mean for forward P/E. WMDST values the stock as over-valued, reflecting the gap between elevated market multiples and leverage-sensitive fundamentals.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-30 |
| NEXT REPORT DATE: | 2026-07-30 |
| CASH FLOW | Begin Period Cash Flow | $ 825.0 M |
| Operating Cash Flow | $ 1.3 B | |
| Capital Expenditures | $ -500.00 M | |
| Change In Working Capital | $ 317.0 M | |
| Dividends Paid | $ -270.00 M | |
| Cash Flow Delta | $ -313.00 M | |
| End Period Cash Flow | $ 512.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.5 B | |
| Forward Revenue | $ 1.6 B | |
| COSTS | ||
| Cost Of Revenue | $ 2.2 B | |
| Depreciation | $ 461.0 M | |
| Depreciation and Amortization | $ 461.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 3.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.2 B | |
| EBITDA | $ 1.7 B | |
| EBIT | $ 1.3 B | |
| Operating Income | $ 1.2 B | |
| Interest Income | $ 5.0 M | |
| Interest Expense | $ 278.0 M | |
| Net Interest Income | $ -273.00 M | |
| Income Before Tax | $ 976.0 M | |
| Tax Provision | $ 26.0 M | |
| Tax Rate | 2.664 % | |
| Net Income | $ 941.0 M | |
| Net Income From Continuing Operations | $ 950.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 3.20 | |
| EPS Actual | $ 3.60 | |
| EPS Difference | $ 0.40 | |
| EPS Surprise | 12.5 % | |
| Forward EPS | $ 5.01 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 42.0 B | |
| Intangible Assets | $ 808.0 M | |
| Net Tangible Assets | $ 9.0 B | |
| Total Current Assets | $ 2.2 B | |
| Cash and Short-Term Investments | $ 512.0 M | |
| Cash | $ 512.0 M | |
| Net Receivables | $ 479.0 M | |
| Inventory | $ 271.0 M | |
| Long-Term Investments | $ 2.5 B | |
| LIABILITIES | ||
| Accounts Payable | $ 1.0 B | |
| Short-Term Debt | $ 1.4 B | |
| Total Current Liabilities | $ 11.1 B | |
| Net Debt | $ 20.6 B | |
| Total Debt | $ 21.8 B | |
| Total Liabilities | $ 32.0 B | |
| EQUITY | ||
| Total Equity | $ 9.8 B | |
| Retained Earnings | $ 6.5 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 36.58 | |
| Shares Outstanding | 268.191 M | |
| Revenue Per-Share | $ 16.60 | |
| VALUATION | Market Capitalization | $ 75.4 B |
| Enterprise Value | $ 96.7 B | |
| Enterprise Multiple | 56.393 | |
| Enterprise Multiple QoQ | -10.356 % | |
| Enterprise Multiple YoY | 1.087 % | |
| Enterprise Multiple IPRWA | high: 61.865 RCL: 56.393 median: 50.552 mean: 48.68 low: -16.979 |
|
| EV/R | 21.724 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.28 | |
| Asset To Liability | 1.314 | |
| Debt To Capital | 0.69 | |
| Debt To Assets | 0.519 | |
| Debt To Assets QoQ | -1.978 % | |
| Debt To Assets YoY | -3.39 % | |
| Debt To Assets IPRWA | high: 0.637 mean: 0.535 RCL: 0.519 low: 0.516 median: 0.516 |
|
| Debt To Equity | 2.221 | |
| Debt To Equity QoQ | 1.186 % | |
| Debt To Equity YoY | -12.111 % | |
| Debt To Equity IPRWA | high: 10.534 mean: 2.655 RCL: 2.221 median: 2.042 low: -5.63 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 7.689 | |
| Price To Book QoQ | -0.16 % | |
| Price To Book YoY | 5.066 % | |
| Price To Book IPRWA | RCL: 7.689 high: 3.815 mean: 3.03 median: 3.006 low: 1.159 |
|
| Price To Earnings (P/E) | 78.13 | |
| Price To Earnings QoQ | -23.472 % | |
| Price To Earnings YoY | -1.304 % | |
| Price To Earnings IPRWA | high: 141.382 median: 141.382 mean: 109.375 RCL: 78.13 low: 23.86 |
|
| PE/G Ratio | 2.735 | |
| Price To Sales (P/S) | 16.944 | |
| Price To Sales QoQ | -6.671 % | |
| Price To Sales YoY | 16.31 % | |
| Price To Sales IPRWA | RCL: 16.944 high: 6.353 median: 6.304 mean: 5.737 low: 1.836 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 58.149 | |
| Forward PE/G | 2.035 | |
| Forward P/S | 47.456 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 2.781 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.106 | |
| Asset Turnover Ratio QoQ | 2.207 % | |
| Asset Turnover Ratio YoY | -0.764 % | |
| Asset Turnover Ratio IPRWA | high: 0.194 mean: 0.122 median: 0.119 RCL: 0.106 low: 0.101 |
|
| Receivables Turnover | 11.186 | |
| Receivables Turnover Ratio QoQ | -11.6 % | |
| Receivables Turnover Ratio YoY | 11.608 % | |
| Receivables Turnover Ratio IPRWA | RCL: 11.186 high: 9.195 median: 9.195 mean: 8.718 low: 1.348 |
|
| Inventory Turnover | 8.4 | |
| Inventory Turnover Ratio QoQ | -0.107 % | |
| Inventory Turnover Ratio YoY | 5.303 % | |
| Inventory Turnover Ratio IPRWA | high: 9.158 RCL: 8.4 median: 7.762 mean: 7.461 low: 0.059 |
|
| Days Sales Outstanding (DSO) | 8.158 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -20.915 | |
| Cash Conversion Cycle Days QoQ | 32.81 % | |
| Cash Conversion Cycle Days YoY | -0.407 % | |
| Cash Conversion Cycle Days IPRWA | high: 59.837 median: -4.565 mean: -7.445 RCL: -20.915 low: -154.768 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -0.502 | |
| CapEx To Revenue | -0.112 | |
| CapEx To Depreciation | -1.085 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 29.5 B | |
| Net Invested Capital | $ 30.9 B | |
| Invested Capital | $ 30.9 B | |
| Net Tangible Assets | $ 9.0 B | |
| Net Working Capital | $ -8.86 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.046 | |
| Current Ratio | 0.199 | |
| Current Ratio QoQ | 8.604 % | |
| Current Ratio YoY | 12.232 % | |
| Current Ratio IPRWA | high: 3.388 mean: 0.606 median: 0.299 low: 0.21 RCL: 0.199 |
|
| Quick Ratio | 0.175 | |
| Quick Ratio QoQ | 8.16 % | |
| Quick Ratio YoY | 14.461 % | |
| Quick Ratio IPRWA | high: 2.671 mean: 0.475 median: 0.258 low: 0.184 RCL: 0.175 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.707 | |
| Cost Of Debt | 0.981 % | |
| Interest Coverage Ratio | 4.511 | |
| Interest Coverage Ratio QoQ | 8.21 % | |
| Interest Coverage Ratio YoY | 13.913 % | |
| Interest Coverage Ratio IPRWA | RCL: 4.511 high: 2.929 mean: 1.981 median: 1.962 low: 1.649 |
|
| Operating Cash Flow Ratio | 0.117 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 39.965 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.485 | |
| Dividend Payout Ratio | 0.287 | |
| Dividend Rate | $ 1.01 | |
| Dividend Yield | 0.004 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.891 % | |
| Revenue Growth | 4.556 % | |
| Revenue Growth QoQ | -126.576 % | |
| Revenue Growth YoY | -28.003 % | |
| Revenue Growth IPRWA | RCL: 4.556 % high: 3.868 % mean: -2.253 % median: -2.607 % low: -6.244 % |
|
| Earnings Growth | 28.571 % | |
| Earnings Growth QoQ | -155.69 % | |
| Earnings Growth YoY | -56.879 % | |
| Earnings Growth IPRWA | RCL: 28.571 % high: 12.5 % mean: -32.354 % low: -41.176 % median: -41.176 % |
|
| MARGINS | ||
| Gross Margin | 49.528 % | |
| Gross Margin QoQ | 4.556 % | |
| Gross Margin YoY | 3.104 % | |
| Gross Margin IPRWA | high: 50.045 % RCL: 49.528 % median: 36.107 % mean: 32.399 % low: -9.969 % |
|
| EBIT Margin | 28.167 % | |
| EBIT Margin QoQ | 7.759 % | |
| EBIT Margin YoY | 14.24 % | |
| EBIT Margin IPRWA | RCL: 28.167 % high: 17.066 % mean: 9.887 % median: 9.262 % low: 7.08 % |
|
| Return On Sales (ROS) | 26.101 % | |
| Return On Sales QoQ | 18.992 % | |
| Return On Sales YoY | 5.861 % | |
| Return On Sales IPRWA | RCL: 26.101 % high: 16.337 % mean: 10.177 % median: 9.83 % low: 7.637 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.3 B | |
| Free Cash Flow Yield | 1.768 % | |
| Free Cash Flow Yield QoQ | 1078.667 % | |
| Free Cash Flow Yield YoY | -14.091 % | |
| Free Cash Flow Yield IPRWA | high: 3.707 % median: 1.78 % RCL: 1.768 % mean: 1.039 % low: -6.74 % |
|
| Free Cash Growth | 1050.0 % | |
| Free Cash Growth QoQ | -1039.774 % | |
| Free Cash Growth YoY | 3282.95 % | |
| Free Cash Growth IPRWA | high: 5708.333 % median: 5708.333 % mean: 4060.362 % RCL: 1050.0 % low: -3012.994 % |
|
| Free Cash To Net Income | 1.418 | |
| Cash Flow Margin | 28.976 % | |
| Cash Flow To Earnings | 1.371 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 2.251 % | |
| Return On Assets QoQ | 22.005 % | |
| Return On Assets YoY | 14.906 % | |
| Return On Assets IPRWA | RCL: 2.251 % high: 1.162 % mean: 0.522 % median: 0.5 % low: 0.227 % |
|
| Return On Capital Employed (ROCE) | 4.055 % | |
| Return On Equity (ROE) | 0.096 | |
| Return On Equity QoQ | 27.689 % | |
| Return On Equity YoY | 4.591 % | |
| Return On Equity IPRWA | RCL: 0.096 high: 0.055 median: 0.02 mean: 0.019 low: -0.157 |
|
| DuPont ROE | 9.483 % | |
| Return On Invested Capital (ROIC) | 3.947 % | |
| Return On Invested Capital QoQ | 40.864 % | |
| Return On Invested Capital YoY | 82.478 % | |
| Return On Invested Capital IPRWA | RCL: 3.947 % high: 2.545 % mean: 1.455 % median: 1.4 % low: 0.725 % |
|