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Royal Caribbean Cruises free cash flow RCL

Cash from operations less capital spending, by quarter and over the last twelve months, from 2009.

Last 12 months, to Jun 30, 2026
−$416M
Latest quarter, Q2 FY26
−$877M
−196% on a year earlier
Fiscal year 2025
$1.2B
−38% on the year before

Royal Caribbean Cruises' free cash flow was −$416M over the twelve months to Jun 30, 2026, down 112% on a year earlier.

In its latest quarter, Q2 FY26, it was −$877M, down 196% on the same quarter a year before.

Free cash flow over time

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearFree cash flowChange
FY2025$1.2B−38%
FY2024$2B+244%
FY2023$580Mn/a
FY2022−$2.2Bn/a
FY2021−$4.1Bn/a
FY2020−$5.7B−924%
FY2019$691.7Mn/a
FY2018−$180.9M−108%
FY2017$2.3B+10248%
FY2016$22.3M−93%
FY2015$333Mn/a
FY2014−$67.6M−110%
FY2013$648.3M+618%
FY2012$90.2M−68%
FY2011$282.1Mn/a

Each fiscal year is the twelve months to its fourth quarter.

Quarter by quarter

QuarterEndedFree cash flowOn a year earlierLast 12 months
Q2 FY26−$877M−196%−$416M
Q1 FY26$1.3B+11%$1.4B
Q4 FY25$116M−87%$1.2B
Q3 FY25−$989M−276%$2B
Q2 FY25$910Mn/a$3.6B
Q1 FY25$1.2B+10%$2.1B
Q4 FY24$915Mn/a$2B
Q3 FY24$563M+49%−$370.4M
Q2 FY24−$567M−195%−$554.6M
Q1 FY24$1.1B+3%$608M
Q4 FY23−$1.5B−455%$580M
Q3 FY23$378.8Mn/a$2.4B

Against its peers

Companies in Travel Services nearest Royal Caribbean Cruises' size, closest first, today.

CompanyFree cash flow yield
RCLRoyal Caribbean Cruises−0.6%
ABNBAirbnbn/m
BKNGBooking8.1%
CCLCarnival9.0%
EXPEExpedia12.9%
ROLRollins3.7%
Peer median8.6%

What the free cash flow tells you

Cash from operations minus capital spending. The cash the company could hand back or reinvest.

Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.

More on Royal Caribbean Cruises

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.