Royal Caribbean Cruises Ltd. (RCL) quarterly cash flow statement — complete operating, investing & financing history
Royal Caribbean Cruises Ltd. (RCL) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 1.58B | 1.86B | 1.83B | 1.62B | 1.47B | 1.75B | 1.63B | 1.47B | 897M | 1.57B | 1.33B | 1.12B | 659M | 1.39B | 1.31B | 576.6M | -44.53M | 478.64M | -528.85M | -205.05M |
| Operating CF Margin % | 28.26% | 38.49% | 41.2% | 38.11% | 28.59% | 38.48% | 40.69% | 39.01% | 18.36% | 38.27% | 35.62% | 33.5% | 15.84% | 39.51% | 45.39% | 22.14% | -1.49% | 21.91% | -49.93% | -20.88% |
| Operating CF Growth % | 7.56% | 6.53% | 12.72% | 10.63% | 63.77% | 11% | 22.52% | 31.45% | 36.12% | 13% | 1.37% | 93.55% | 1579.77% | 190.82% | 347.71% | 381.2% | 88.96% | 203.97% | 34.64% | 75.16% |
| Net Income | 1.74B | 1.14B | 942M | 762M | 1.58B | 1.21B | 736M | 559M | 1.11B | 858M | 364M | 278.92M | 1.01B | 463M | -48M | -500.21M | 32.97M | -521.58M | -1.17B | -1.36B |
| Depreciation & Amortization | 490M | 464M | 461M | 453M | 436M | 417M | 412M | 410M | 410M | 393M | 387M | 368.08M | 366M | 361M | 360M | 360.6M | 355.08M | 351.54M | 339.47M | 333.37M |
| Stock-Based Compensation | 26M | 30M | 38M | 39M | 44M | 39M | 53M | 158M | 26M | 38M | 45M | 46.69M | 13M | 40M | 26M | 11.83M | 14.15M | -12.71M | 22.84M | 8.2M |
| Deferred Taxes | -3M | 1M | -1M | 3M | -4M | 5M | -1M | -15M | 10M | 5M | 0 | -5.28M | 3M | 5M | -11M | -7.23M | -5.14M | -6.14M | -3.07M | -11.58M |
| Other Non-Cash Items | 199M | 570M | 36M | -70M | 157M | -110M | -102M | -65M | 251M | 24M | 88M | 5.83M | -7M | -6M | 36M | 65.34M | 28.39M | 84.54M | 65.04M | 93.69M |
| Working Capital Changes | -867M | -346M | 349M | 436M | -743M | 181M | 529M | 420M | -915M | 255M | 444M | 421.75M | -726M | 529M | 947M | 646.27M | -469.99M | 582.98M | 214.02M | 728.24M |
| Change in Receivables | 29M | 173M | -173M | 31M | 17M | 26M | -77M | 65M | 3M | 41M | -57M | -32.2M | -1M | 9M | 123M | -60.79M | 28.05M | -169.37M | -32.24M | 43.83M |
| Change in Inventory | -37M | 4M | -7M | 4M | -21M | 8M | 9M | 0 | -23M | -6M | 12M | -6.49M | -26M | 5M | 3M | 13.17M | -8.08M | -49.64M | -29.24M | -7.82M |
| Change in Payables | -66M | 14M | -8M | 127M | -124M | 2M | 22M | 67M | 35M | -60M | 78M | 61.99M | 32M | -27M | 57M | -4.59M | -142.5M | 109.32M | 112.43M | 81.3M |
| Cash from Investing | -630M | -2.67B | -529M | -1.48B | -2.39B | -706M | -440M | -641M | -311M | -2.2B | -296M | -2.57B | -328M | -787M | -234M | -116.81M | -343.4M | -1.08B | -1.44B | -584.5M |
| Capital Expenditures | -643M | -2.74B | -500M | -1.51B | -2.46B | -836M | -428M | -552M | -334M | -2.14B | -242M | -2.57B | -281M | -796M | -252M | -166.8M | -225.52M | -954.66M | -1.36B | -575.43M |
| CapEx % of Revenue | 11.5% | 56.64% | 11.23% | 35.38% | 47.83% | 18.42% | 10.7% | 14.68% | 6.84% | 52.07% | 6.49% | 77.09% | 6.75% | 22.59% | 8.73% | 6.41% | 7.53% | 43.71% | 128.69% | 58.58% |
| Acquisitions | 0 | 0 | 0 | -12M | -32M | -36M | -26M | 0 | -27M | -11M | -9M | -9M | -22M | 0 | 0 | 614K | 0 | -614K | 0 | -144K |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 19M | 40M | -5M | -4M | 71M | 64M | 16M | -74M | 17M | -2M | -10M | 11.4M | 22M | 4M | 19M | 6.3M | -430K | 27.64M | -7.85M | -6.59M |
| Cash from Financing | -974M | 1.18B | -1.62B | 254M | 615M | -696M | -1.19B | -852M | -559M | 580M | -1.09B | 1.35B | -457M | -1.1B | -1.78B | -91.93M | -146.86M | 742.03M | 1.24B | 202.02M |
| Debt Issued (Net) | -532M | 1.72B | -298M | -10M | 1.23B | -474M | -746M | -737M | -554M | 584M | -1.05B | 1.49B | -457M | -1.08B | -1.96B | -63.01M | -52.52M | 782.42M | 1.34B | 239.23M |
| Equity Issued (Net) | 0 | -199M | -836M | -504M | -414M | 0 | -241M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -401M | -404M | -270M | 288M | -204M | -200M | -148M | -107M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -199M | -836M | -504M | -414M | 0 | -241M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -41M | 61M | -213M | 480M | 3M | -22M | -56M | -8M | -5M | -4M | -40M | -140.35M | 0 | -23M | 175M | -28.91M | -94.35M | -40.39M | -104.61M | -37.21M |
| Net Change in Cash | -24M | 363M | -313M | 393M | -303M | 349M | -2M | -30M | 27M | -46M | -60M | -103.12M | -127M | -501M | -708M | 368.79M | -535.99M | 133.7M | -733.27M | -587.56M |
| Free Cash Flow | 937M | -877M | 1.33B | 116M | -989M | 910M | 1.2B | 915M | 563M | -567M | 1.09B | -1.45B | 378M | 596M | 1.06B | 409.8M | -270.05M | -476.02M | -1.89B | -780.48M |
| FCF Margin % | 16.76% | -18.15% | 29.96% | 2.72% | -19.25% | 20.05% | 29.98% | 24.33% | 11.52% | -13.8% | 29.13% | -43.6% | 9.09% | 16.92% | 36.66% | 15.74% | -9.02% | -21.79% | -178.61% | -79.46% |
| FCF Growth % | 194.74% | -196.37% | 11.26% | -87.32% | -275.67% | 260.49% | 10.41% | 163% | 48.94% | -195.13% | 2.65% | -454.41% | 239.97% | 225.2% | 155.92% | 152.51% | 64.99% | 30.49% | -1.13% | 35.88% |
| FCF per Share | 3.50 | -3.25 | 4.92 | 0.42 | -3.61 | 3.31 | 4.34 | 3.30 | 2.13 | -2.02 | 3.86 | -5.19 | 1.34 | 2.11 | 4.15 | 1.61 | -1.06 | -1.87 | -7.42 | -3.06 |
| FCF Conversion (FCF/Net Income) | 0.91x | 1.65x | 1.95x | 2.15x | 0.93x | 1.44x | 2.23x | 2.66x | 0.81x | 1.84x | 3.69x | 4.03x | 0.65x | 3.03x | -27.29x | -1.15x | -1.35x | -0.92x | 0.45x | 0.15x |
| Interest Paid | 308M | 0 | 320M | -443M | 266M | 164M | 279M | 212M | 377M | 210M | 411M | 377.97M | 504M | 171M | 389M | 207.28M | 327.5M | 199.35M | 225.77M | 203.5M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |