Royal Caribbean Cruises
Royal Caribbean Cruises returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 16.66% | 16.75% | — | 45.33% | 10.57% | 9 pp |
| FY 2026 Q1 | Mar 31, 2026 | 17.39% | 17.65% | — | 50.42% | 11.28% | 9.7 pp |
| FY 2025 Q4 | Dec 31, 2025 | 16.56% | 17.28% | 23.22% | 48.5% | 10.85% | 8.9 pp |
| FY 2025 Q3 | Sep 30, 2025 | — | 16.41% | — | 47.46% | 10.54% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 16.47% | — | 47.48% | 9.54% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 16.41% | — | 49.53% | 8.94% | — |
| FY 2024 Q4 | Dec 31, 2024 | 15.17% | 15.5% | 74.82% | 46.83% | 7.97% | 7.5 pp |
| FY 2024 Q3 | Sep 30, 2024 | — | 15.9% | — | 45.38% | 7.45% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 14.64% | — | 53.36% | 7.15% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 13.78% | — | 52.61% | 6.19% | — |
| FY 2023 Q4 | Dec 31, 2023 | 11.43% | 11.3% | — | 44.7% | 4.93% | 3.7 pp |
| FY 2023 Q3 | Sep 30, 2023 | — | 9.85% | — | 24.11% | 2.78% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 5.97% | — | -1.67% | -0.17% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 1.52% | — | -30.31% | -3.15% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | -3.05% | — | -54.21% | -6.53% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | -7.09% | — | -62.29% | -9.11% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | -12.16% | — | -79.24% | -13.22% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | -14.01% | — | -80.48% | -15.74% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | -14.63% | — | -75.98% | -16.26% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | -14.11% | — | -71.24% | -16.34% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | -13.36% | — | -61.64% | -15.5% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | -14.79% | — | -56.53% | -16.18% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | -18.3% | — | -55.41% | -18.47% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | -13.16% | — | -40.95% | -13.49% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | -5.51% | — | -18.8% | -6.11% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 2.03% | — | 1.72% | 0.59% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | 9.7% | — | 16.15% | 6.48% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | 10.05% | — | 16.48% | 6.75% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | 10.09% | — | 16.57% | 6.86% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | 9.85% | — | 16.81% | 6.99% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | 9.95% | — | 16.61% | 7.24% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | 9.92% | — | 16.38% | 7.25% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 10.06% | — | 16.87% | 7.49% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 9.79% | — | 16.36% | 7.08% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 9.86% | — | 16.4% | 7.29% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | 9.91% | — | 16.63% | 7.17% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 9.94% | — | 17.26% | 6.92% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | 9.57% | — | 16.31% | 6.51% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | 8.56% | — | 14.94% | 5.94% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | 8.28% | — | 14.42% | 5.66% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | 5.49% | — | 9.29% | 3.49% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 5.63% | — | 9.07% | 3.44% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 5.22% | — | 8.15% | 3.2% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | 4.59% | — | 6.58% | 2.8% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | 6.14% | — | 9.67% | 4.01% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 5.71% | — | 9.35% | 3.82% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | 5.77% | — | 8.94% | 3.75% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | 5.77% | — | 7.44% | 3.33% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | 5.12% | — | 6.24% | 2.69% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 4.63% | — | 4.95% | 2.12% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | 5.06% | — | 5.53% | 2.37% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | 2.84% | — | 0.85% | 0.37% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 2.89% | — | 0.91% | 0.38% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 2.73% | — | 0.56% | 0.24% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | 2.48% | — | 0.22% | 0.09% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | 4.81% | — | 5.22% | 2.25% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 5.2% | — | 5.76% | 2.42% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 5.45% | — | 6.83% | 2.89% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | 5.65% | — | 7.43% | 3.08% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | 5.88% | — | 7.56% | 3.18% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 5.62% | — | 7.36% | 3% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | 5.48% | — | 6.87% | 2.86% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · RCL, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.