Royal Caribbean Cruises Ltd. (RCL)RCLRoyal Caribbean Cruises Ltd.

Cash Flow Statement

Operating, investing, and financing cash flow analysis

Quarterly Cash Flow Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Cash from Operations (CFO)	6.672B	1.834B	1.623B	1.469B	1.746B	1.627B	1.467B	897.000M	1.573B
Net Income	4.484B	941.000M	754.000M	1.579B	1.210B	730.000M	552.000M	1.111B	854.000M
Depreciation & Amortization	1.662B	461.000M	349.000M	435.000M	417.000M	412.000M	410.000M	410.000M	393.000M
Stock-Based Compensation	160.000M	38.000M	39.000M	44.000M	39.000M	53.000M	158.000M	26.000M	38.000M
Change in Accounts Receivable	1.583B	479.000M	317.000M	356.000M	431.000M	427.000M	371.000M	441.000M	412.000M
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	223.000M	349.000M	436.000M	-743.000M	181.000M	529.000M	420.000M	-915.000M	255.000M
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-5.301B	-500.000M	-1.507B	-2.458B	-836.000M	-428.000M	-552.000M	-334.000M	-2.140B
Acquisitions	-80.000M	0.00	-12.000M	-32.000M	-36.000M	-26.000M	0.00	-27.000M	-11.000M
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-1.754B	-836.000M	-504.000M	-414.000M	0.00	-241.000M	0.00	0.00	0.00
Dividends Paid	-386.000M	-270.000M	288.000M	-204.000M	-200.000M	-148.000M	-107.000M	0.00	0.00
Free Cash Flow (FCF)	1.371B	1.334B	116.000M	-989.000M	910.000M	1.199B	915.000M	563.000M	-567.000M
Net Change in Cash	126.000M	-313.000M	393.000M	-303.000M	349.000M	-2.000M	-30.000M	27.000M	-46.000M

Annual Cash Flow Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Cash from Operations (CFO)	6.465B	5.265B	4.477B	481.000M	-1.878B	-3.732B	3.716B	3.479B
Net Income	4.273B	2.877B	1.697B	-2.156B	-5.260B	-5.797B	1.879B	1.811B
Depreciation & Amortization	1.613B	1.600B	1.455B	1.407B	1.293B	1.279B	1.246B	1.034B
Stock-Based Compensation	175.000M	267.000M	126.000M	36.000M	64.000M	39.779M	75.930M	46.061M
Change in Accounts Receivable	317.000M	371.000M	405.000M	531.000M	408.067M	284.149M	305.821M	324.507M
Change in Inventory	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—
Change in Working Capital	383.000M	204.000M	1.171B	973.000M	1.480B	-1.331B	444.688M	434.245M
Cash from Investing	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-5.229B	-3.268B	-3.897B	-2.710B	-2.230B	-1.965B	-3.025B	-3.660B
Acquisitions	0.00	-67.000M	-31.000M	0.00	-70.000M	-100.609M	-25.569M	-930.092M
Cash from Financing	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-1.159B	0.00	0.00	0.00	0.00	0.00	-99.582M	-575.039M
Dividends Paid	-264.000M	-107.000M	0.00	0.00	0.00	-326.421M	-602.674M	-527.494M
Free Cash Flow (FCF)	1.236B	1.997B	580.000M	-2.229B	-4.108B	-5.697B	691.703M	-180.889M
Net Change in Cash	437.000M	-109.000M	-1.438B	-767.000M	-982.000M	3.441B	-44.114M	167.740M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. is a prominent global operator within the cruise sector. The company manages several well-known cruise lines, such as Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises. Through these brands, it offers a wide array of voyages that call upon approximately 1,000 different destinations across the globe. As of February 25, 2022, its expansive fleet comprised 61 vessels. Established in 1968, the company's corporate headquarters are situated in Miami, Florida.

Miami, FL

105,950 employees

www.rclinvestor.com

Consumer Cyclical / Travel Services

Sector: Consumer Cyclical
Industry: Travel Services
CEO: Jason T. Liberty

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