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Royal Caribbean Group

Logo: Royal Caribbean Group, Public domain, via Wikimedia Commons6

Cruise holding company headquartered in Miami, Florida

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.3 It was founded by Arne Wilhelmsen.1 It employed 108 people.1 Its shares trade on NYSE under the symbol RCL.1 Wikipedia text CC BY-SA 4.0

$287.92 up 0.11 (0.04%)Price as of Oct 21, 2026 at 18:59 UTC

Last updated Oct 21, 2026.

Overview

1997Founded1

Compare with Brookfield Infrastructure Partners, Carnival Corporation or Norwegian Cruise Line Holdings Ltd., or pick any stock.

  • TickerRCL on NYSE1
  • Industrycruise line1
  • HeadquartersMiami1
  • Websitewww.royalcaribbeangroup.com
  • Legal formjoint-stock company1
  • Business address1050 Caribbean Way, Miami, Fl 331327
  • Filer categoryLarge accelerated filer7
  • LEIK2NEH8QNVW44JIWK7Z554
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE LISCR TRUST COMPANY, 1000 Monrovia, Liberia4
  • Registered withLiberia Business Registry, C-388634

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Royal Caribbean headquarters
Photo: Coolcaesar at en.wikipedia, CC BY-SA 3.0, via Wikimedia Commons10

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd Cruises, with the Group's global fleet consisting of 71 ships.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

27.4%Operating margin11
23.8%Net margin11
8.8%Revenue growth, 202511
42.5%Return on equity11
$1.2BFree cash flow11

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Cruise Itinerary brought in 46% of the revenue Royal Caribbean Group broke down this way in fiscal 2025.

  1. Cruise Itinerary$17.1B1146%up 9% from 2024
  2. Passenger$12.5B1134%up 9% from 2024
  3. Product and Service, Other$5.4B1115%up 9% from 2024
  4. Port Costs$1.3B113%up 18% from 2024
  5. Business Insurance Other$864.0M112%up 10% from 2024
Products and services by year
Products and services202320242025
Cruise Itinerary$13.2B$15.7B$17.1B
Passenger$9.6B$11.5B$12.5B
Product and Service, Other$4.3B$5.0B$5.4B
Port Costs$896.0M$1.1B$1.3B
Business Insurance Other$668.0M$788.0M$864.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue51¢$9.1B
  • Selling, general and admin12¢$2.2B
  • Other costs13¢$2.3B
  • Income tax0¢$82.0M
  • Profit24¢$4.3B

Out of $17.9B in revenue.11

Where each dollar of operating cash went, fiscal 2025

  • Capital spending73¢$5.2B
  • Dividends paid11¢$824.0M
  • Share buybacks16¢$1.2B

Out of $6.5B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.11

Financial statements

Revenue1213141511$17.9B in 2025+64% since 2019
0$5.0B$10.0B$15.0B$20.0B2019: $11.0B$11.0B20192020: $2.2B$2.2B2020−80%2021: $1.5B$1.5B2021−31%2022: $8.8B$8.8B2022+477%2023: $13.9B$13.9B2023+57%2024: $16.5B$16.5B2024+19%2025: $17.9B$17.9B2025+9%
Operating income1213141511$4.9B in 2025+136% since 2019
-$5.0B-$2.5B0$2.5B$5.0B2019: $2.1B$2.1B20192020: -$4.6B-$4.6B20202021: -$3.9B-$3.9B2021−16%2022: -$766.0M-$766.0M2022−80%2023: $2.9B$2.9B20232024: $4.1B$4.1B2024+43%2025: $4.9B$4.9B2025+20%
Net income1213141511$4.3B in 2025+127% since 2019
-$10.0B-$5.0B0$5.0B2019: $1.9B$1.9B20192020: -$5.8B-$5.8B20202021: -$5.3B-$5.3B2021−9%2022: -$2.2B-$2.2B2022−59%2023: $1.7B$1.7B20232024: $2.9B$2.9B2024+70%2025: $4.3B$4.3B2025+48%

Every line of the income statement as filed: the last 3 fiscal years, latest first.11

Period ending2025-12-312024-12-312023-12-31
Total revenues$17.9B$16.5B$13.9B
Total cruise operating expenses$9.1B$8.7B$7.8B
Marketing, selling and administrative expenses$2.2B$2.1B$1.8B
Depreciation and amortization expenses$1.7B$1.6B$1.5B
Operating Income$4.9B$4.1B$2.9B
Interest income$24.0M$16.0M$36.0M
Interest expense, net of interest capitalized-$992.0M-$1.6B-$1.4B
Equity investment income$414.0M$260.0M$200.0M
Other income (expense)$17.0M$149.0M-$2.0M
Income before income taxes$4.4B$2.9B$1.7B
Provision for income taxes-$82.0M-$46.0M-$6.0M
Less: Net Income attributable to noncontrolling interest$23.0M$18.0M$7.0M
Net Income attributable to Royal Caribbean Cruises Ltd.$4.3B$2.9B$1.7B
Basic (in dollars per share)$15.75$11.00$6.63
Diluted (in dollars per share)$15.61$10.94$6.31
Net Income$4.3B$2.9B$1.7B
Foreign currency translation adjustments-$26.0M$17.0M-$9.0M
Change in defined benefit plans-$4.0M$12.0M$6.0M
Gain (loss) on cash flow derivative hedges$228.0M-$157.0M-$27.0M
Total other comprehensive income (loss)$198.0M-$128.0M-$30.0M
Comprehensive Income$4.5B$2.8B$1.7B
Less: Comprehensive Income attributable to noncontrolling interest$23.0M$18.0M$7.0M
Comprehensive Income attributable to Royal Caribbean Cruises Ltd.$4.5B$2.8B$1.7B

Compare Royal Caribbean Group with another company

Corporate structure

Royal Caribbean Group sits at the top of its group. 52 entities, 19 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Royal Caribbean Group

  • Royal Caribbean Group Miami, Florida, United States
    • Silversea Cruises Nassau, Bahamas
    • Celebrity Cruises Subsidiary · Miami
    • Pullmantur Cruises Subsidiary · Madrid, Spain
    • Royal Caribbean International Subsidiary · Miami
    • Admiral Management Inc. Subsidiary · Liberia
    • Canodros CL Subsidiary · Ecuador
    • CATALONIA CRUISE TERMINAL G S.L. Subsidiary · Barcelona, Spain
    • CCL Holdings LLC Subsidiary · Liberia
    • CCL Ships LLC Subsidiary · Liberia
    • Celebrity Cruises Holdings Inc. Subsidiary · Liberia
    • Celebrity Cruises Inc., doing business as Celebrity Cruises Subsidiary · Liberia
    • GG Operations Inc. Subsidiary · Delaware, United States
    • Global Fleet Management LLC Subsidiary · Liberia
    • Island for Science, Inc. Subsidiary · Indiana, United States
    • Islas Galapagos Turismo y Vapores CA Subsidiary · Ecuador
    • Labadee Investments Ltd. Subsidiary · Cayman Islands
    • RCI Holdings LLC Subsidiary · Liberia
    • RCI Ships LLC Subsidiary · Liberia
    • RCL (UK) Ltd. Subsidiary · United Kingdom
    • RCL Celebrity Ships LLC Subsidiary · Liberia
    • RCL Cruise Holdings LLC Subsidiary · Liberia
    • RCL CRUISES LTD Subsidiary · Surrey, United Kingdom
    • RCL GEO LLC Subsidiary · Florida, United States
    • RCL Holdings Cooperatief U.A. Subsidiary · Netherlands
    • RCL Holdings LLC Subsidiary · Liberia
    • and 25 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Royal Caribbean Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$52.7B11 Dec 31, 2025$47.1B11 Dec 31, 2024+11.7%
Accumulated depreciation$17.0B11 Dec 31, 2025$15.3B11 Dec 31, 2024+10.9%
Property and equipment, net$35.7B11 Dec 31, 2025$31.8B11 Dec 31, 2024+12.1%
Finance-lease assets$141.0M11 Dec 31, 2025$96.0M11 Dec 31, 2024+46.9%
Operating-lease assets (leased space)$620.0M11 Dec 31, 2025$677.0M11 Dec 31, 2024−8.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$825.0M11 Dec 31, 2025$388.0M11 Dec 31, 2024+112.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$808.0M11 Dec 31, 2025$808.0M11 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$390.0M11 Dec 31, 2025$404.0M11 Dec 31, 2024−3.5%
Indefinite-lived intangibles (excluding goodwill)$321.0M11 Dec 31, 2025$321.0M11 Dec 31, 20240%
Finite-lived intangibles, gross$131.0M11 Dec 31, 2025$138.0M11 Dec 31, 2024−5.1%
Accumulated amortization$62.0M11 Dec 31, 2025$55.0M11 Dec 31, 2024+12.7%
Finite-lived intangibles, net$69.0M11 Dec 31, 2025$83.0M11 Dec 31, 2024−16.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$264.0M11 Dec 31, 2025$265.0M11 Dec 31, 2024−0.4%

Properties, in its own words

Information about our cruise ships, including their size, may be found within the Operating Strategies - Delivery of state-of-the-art vessels, and fleet upgrade and maintenance section and the Operations - Cruise Ships and Itineraries section in Item 1. Business. Information regarding our cruise ships under construction, estimated expenditures and financing may be found within the Future Capital Commitments and Funding Needs and Sources sections of Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Our principal executive office and principal shoreside operations are located in leased office buildings at the Port of Miami, Florida. We also lease a number of other offices in the U.S. and throughout Europe, Asia, Mexico, South America, Caribbean and Australia to administer our brand operations globally.

The rest of Item 2

We believe that our facilities are adequate for our current needs and that we are capable of obtaining additional facilities as necessary.

We also operate three exclusive private destinations which we utilize as ports-of-call on certain itineraries: (i) an island we own in the Bahamas that we call Perfect Day at CocoCay; (ii) Labadee, a secluded peninsula that we lease on the north coast of Haiti; and (iii) Paradise Island, the first Royal Beach Club in the Bahamas, which opened in December 2025.

Item 2 of the 10-K filed Feb 11, 2026.19

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded by Arne Wilhelmsen in 1997.1

Royal Caribbean was founded in 1969 in Norway. Royal Caribbean Group was formed as Royal Caribbean Cruises Ltd. in 1997 when Royal Caribbean Cruise Line purchased Celebrity Cruises. The decision was made to keep the two cruise line brands separate following the merger; as a result Royal Caribbean Cruise Line was re-branded Royal Caribbean International and Royal Caribbean Cruises Ltd. was established as the new parent company of both Royal Caribbean International and Celebrity Cruises.

A third brand under Royal Caribbean Cruises ownership was formed in 2000 when Island Cruises was created as a joint venture with First Choice Holidays. Island Cruises became an informal cruise line on the British and Brazilian markets.

In November 2006, Royal Caribbean Cruises purchased Pullmantur Cruises based in Madrid, Spain. From there, the company expanded with the creation of Celebrity Cruises subsidiary, Azamara Cruises, in 2007. It followed this with the formation of CDF Croisières de France in May 2008 to serve the French-language market.

Royal Caribbean also has an interest in TUI Cruises, a joint venture with TUI AG, which began operations in 2009 aimed at a German-speaking market. TUI Cruises' subsidiary, TUI Travel, had a 50% interest in Island Cruises following their merger with First Choice Holidays in 2007. In October 2008, Royal Caribbean Cruises rationalized their holdings by selling their share of Island Cruises to TUI.

In 2016, Royal Caribbean sold 51% of Pullmantur and CDF to Cruises Investment Holdings S.A.R.L.

In early 2019, Royal Caribbean announced in a joint venture with ITM Group the formation of Holistica, a cruise destination development company. The company developed the Grand Lucayan Resort, located in Freeport.

On July 10, 2020, Royal Caribbean Cruises purchased the remaining shares of Silversea Cruises. That same month, it also changed its name to Royal Caribbean Group. It also adjusted its logo. Royal Caribbean sold Azamara Cruises to Sycamore Partners in March 2021 for $201 million.

In July 2022, Royal Caribbean Group received court approval to purchase Endeavor, a former Crystal Cruise ship, for $275 million. The ship was renamed Silver Endeavour when it officially joins the Royal Caribbean's subsidiary, Silversea Cruises' fleet.

Read the full text

On February 1, 2024, Royal Caribbean Group broke ground on a new headquarters building between its two existing headquarters buildings at PortMiami.

From Wikipedia’s article on Royal Caribbean Group, shared under CC BY-SA 4.0.8

Leadership

Who has led Royal Caribbean Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Richard D. Fain2006–2021
  2. Daniel J. Hanrahan2008–2012
  3. Barbier Gonzalo Chico2009–2014
  4. Lawrence R. Pimentel2010–2020
  5. Michael W. Bayley2012–2014
  6. Jorge Vilches2014–2016
  7. Lisa Lutoff-Perlo2014–2023
  8. Roberto Martinoli2021–2022
  9. Jason T. Liberty2022–now

Chair

  1. Richard D. Fain2006–2021

President

  1. Daniel J. Hanrahan2006–2007
  2. Richard D. Fain2006
  3. Barbier Gonzalo Chico2009–2014
  4. Jorge Vilches2014–2016
  5. Jason T. Liberty2022–2023
  6. Laura H. Bethge2023–now

Chief financial officer

  1. Luis E. Leon2006
  2. Brian J. Rice2007–2013
  3. Jason T. Liberty2013–2021
  4. Naftali Holtz2022–now
200020052010201520202025
Board members and other officers (34)

Products and brands

Brands and ships

Royal Caribbean International

Royal Caribbean International (RCI) is a cruise line founded in 1969 in Norway. It reorganized as a wholly owned subsidiary in 1997 and was renamed to Royal Caribbean Group in 2020.

Based in Miami, Florida, it is the largest cruise line by revenue and second largest by passenger counts. As of 2025, Royal Caribbean International controlled 27.0% of the worldwide cruise market by passengers and 24.8% by revenue.

List of Royal Caribbean International ships

Celebrity Cruises

Celebrity Cruises is a cruise line headquartered in Miami, Florida, and is a wholly owned subsidiary of Royal Caribbean Group. Celebrity Cruises was founded in 1988 by the Greece-based Chandris Group, and merged with Royal Caribbean Cruise Line in 1997.

Read the full text

List of Celebrity Cruises ships

Celebrity River Cruises

In 2025, Celebrity Cruises announced the addition of Celebrity River Cruises and an initial order of 10 river cruise ships. In 2026, company officials confirmed the fleet intends to operate at least 20 ships by 2031. The first two ships, the Celebrity Compass and Celebrity Seeker, scheduled to begin sailing in 2027 on the Rhine and Danube rivers.

Silversea Cruises

Silversea Cruises is a luxury cruise line headquartered in Monaco. It was founded in 1994 by Antonio Lefebvre d'Ovidio and V-Ships (formerly Vlasov Group). In 2018, Royal Caribbean Group acquired a 66.7% stake in Silversea Cruises, adding ultra-luxury and expedition cruising to its portfolio. In 2020, the company acquired the remaining shares of Silversea Cruises, becoming the sole owner.

List of Silversea Cruises ships

Holistica Destinations

Holistica Destinations was formed in early 2019 as a joint venture between Royal Caribbean Group and the ITM Group with the intention of purchasing the Grand Lucayan Resort and re-developing the neighbouring Freeport Harbour in The Bahamas as a cruise destinations that would benefit the local Freeport economy. However, the Government of the Bahamas withdrew support for the re-development of the Grand Lucayan Resort citing that it was 'not in the best interests of the Bahamian people'. Holistica continues to plan for a Freeport Harbour re-development.

Holistica also operates three other Caribbean cruise destinations. These are Costa Maya in Mexico, Roatan in Honduras, and Puerto Plata in the Dominican Republic.

Former brands

Island Cruises (50% share, owned 2000–2008)

CDF Croisières de France (2007–2017)

SkySea Cruise Lines (35%, 2016–2018)

Azamara Cruises (2000–2021, sold)

Pullmantur Cruises (2000–2020, defunct)

Admiral Cruises (1988–1992)

From Wikipedia’s article on Royal Caribbean Group, shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Subsidiaries

Also owns

Subsidiaries (Exhibit 21)

  • Admiral Management Inc. Liberia9
  • CCL Holdings LLC Liberia9
  • CCL Ships LLC Liberia9
  • Canodros CL Ecuador9
  • Celebrity Cruises Holdings Inc. Liberia9
  • Celebrity Cruises Inc., doing business as Celebrity Cruises Liberia9
  • GG Operations Inc. Delaware9
  • Global Fleet Management LLC Liberia9
  • Island for Science, Inc. Indiana9
  • Islas Galapagos Turismo y Vapores CA Ecuador9
  • Labadee Investments Ltd. Cayman Islands9
  • RCI Holdings LLC Liberia9
  • RCI Ships LLC Liberia9
  • RCL (UK) Ltd. England and Wales9
  • RCL Celebrity Ships LLC Liberia9
  • RCL Cruise Holdings LLC Liberia9
  • RCL Cruises Ltd. England and Wales9
  • RCL GEO LLC Florida9
  • RCL Holdings Cooperatief U.A. Netherlands9
  • RCL Holdings LLC Liberia9
  • RCL Investments Ltd. England and Wales9
  • RCL Ships LLC Liberia9
  • RCL TUI Cruises German Holding GmbH & Co. KG Germany9
  • RCL Worldwide (Hong Kong) Limited Hong Kong9
All 45 listed subsidiaries
  • RCL Worldwide Ltd. Liberia9
  • Royal Caribbean Cruises (Asia) Pte. Ltd. Singapore9
  • Royal Caribbean Cruises Services (China) Company Limited China9
  • Royal Caribbean Holdings LLC Liberia9
  • Royal Caribbean Ships LLC Liberia9
  • SG Expeditions SAGL Switzerland9
  • Silversea Cruise Finance LLC Liberia9
  • Silversea Cruises (Europe) Ltd. England and Wales9
  • Silversea Cruises (UK) Ltd. England and Wales9
  • Silversea Cruises Australia Pty. Ltd. Australia9
  • Silversea Cruises Canada Ltd. Canada9
  • Silversea Cruises LLC Liberia9
  • Silversea Cruises South Africa Pty. Ltd. South Africa9
  • Silversea Finance Holdings LLC Liberia9
  • Silversea Finance Ships LLC Liberia9
  • Silversea Holdings LLC Liberia9
  • Silversea SAM Monaco9
  • Silversea Ships LLC Liberia9
  • Societe Labadee Nord, S.A. Haiti9
  • White Sand Inc. Liberia9
  • XP Tours S.A. Ecuador9

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 23, 20268-K Other events69
  2. Aug 20, 20268-K Entered a material agreement; New debt or obligation70
  3. Aug 7, 20268-K Entered a material agreement71
  4. Jul 28, 20268-K Results of operations72
  5. Jul 20, 20268-K Executive or director change; Regulation FD disclosure73
  6. May 28, 20268-K Shareholder vote74
  7. May 20, 20268-K Regulation FD disclosure75
  8. Apr 30, 20268-K Results of operations76
  9. Feb 27, 20268-K Entered a material agreement; New debt or obligation77
  10. Feb 17, 20268-K Executive or director change; Regulation FD disclosure78
  11. Feb 13, 20268-K Entered a material agreement79
  12. Jan 29, 20268-K Results of operations80
  13. Feb 9, 2022New chief executive Jason T. Liberty becomes CEO20
  14. Mar 5, 2021New chief executive Roberto Martinoli becomes CEO21
  15. Dec 12, 2014New chief executive Lisa Lutoff-Perlo becomes CEO23
  16. Jun 2, 2014New chief executive Jorge Vilches becomes CEO22
  17. Aug 9, 2012New chief executive Michael W. Bayley becomes CEO24
  18. Feb 18, 2010New chief executive Lawrence R. Pimentel becomes CEO25
  19. Feb 18, 2009New chief executive Barbier Gonzalo Chico becomes CEO26
  20. Feb 5, 2008New chief executive Daniel J. Hanrahan becomes CEO27
  21. Feb 7, 2006New chief executive Richard D. Fain becomes CEO28
  22. 1997Founded Founded1
  23. Apr 28, 1993Went public Listed on NYSE1

Calendar

Coming up

  1. Oct 27, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $5.75 a share, on Oct 28, 2025.81

When it reported results

  1. Jul 28, 2026Reported quarterly or annual results72
  2. Apr 30, 2026Reported quarterly or annual results76
  3. Jan 29, 2026Reported quarterly or annual results80
  4. Oct 28, 2025Reported quarterly or annual results82
  5. Jul 29, 2025Reported quarterly or annual results83
  6. Apr 29, 2025Reported quarterly or annual results84
  7. Jan 28, 2025Reported quarterly or annual results85
  8. Oct 29, 2024Reported quarterly or annual results86

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

488 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 80 major events, 271 insider forms, 35 large holders, 82 other. The latest 20:

  1. Oct 6, 2026SCHEDULE 13G/A EDGAR
  2. Sep 23, 20268-K EDGAR
  3. Aug 20, 20268-K EDGAR
  4. Aug 12, 2026SCHEDULE 13G/A EDGAR
  5. Aug 10, 2026424B5 EDGAR
  6. Aug 7, 20268-K EDGAR
  7. Aug 6, 2026FWP EDGAR
  8. Aug 6, 2026424B5 EDGAR
  9. Aug 3, 20264 EDGAR
  10. Aug 3, 2026144 EDGAR
  11. Jul 31, 20264 EDGAR
  12. Jul 30, 20264/A EDGAR
  13. Jul 28, 202610-Q EDGAR
  14. Jul 28, 20268-K EDGAR
  15. Jul 24, 20263 EDGAR
  16. Jul 20, 20268-K EDGAR
  17. Jun 3, 20264 EDGAR
  18. May 29, 20264 EDGAR
  19. May 29, 20264 EDGAR
  20. May 29, 20264 EDGAR

The 488 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

82 open-market trades by officers, directors and large owners since October 2021: 3 buys and 79 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 29, 2026Bayley Michael WPres&CEO, Royal Caribbean IntlSale12,811$315.99$4.0MForm 4
Feb 27, 2026Wilhelmsen Arne AlexanderDirectorSale245,476$311.54$76.5MForm 4
Feb 26, 2026Wilhelmsen Arne AlexanderDirectorSale356,026$318.39$113.4MForm 4
Feb 25, 2026Wilhelmsen Arne AlexanderDirectorSale170,105$315.92$53.7MForm 4
Feb 24, 2026Wilhelmsen Arne AlexanderDirectorSale345,111$315.73$109.0MForm 4
Feb 23, 2026Wilhelmsen Arne AlexanderDirectorSale19,140$317.30$6.1MForm 4
Feb 20, 2026Wilhelmsen Arne AlexanderDirectorSale109,297$314.81$34.4MForm 4
Feb 19, 2026Wilhelmsen Arne AlexanderDirectorSale101,902$312.09$31.8MForm 4
Feb 18, 2026Wilhelmsen Arne AlexanderDirectorSale104,540$321.64$33.6MForm 4
Feb 17, 2026BETHGE LAURA HPresident, Celebrity CruisesSale7,854$326.21$2.6MForm 4
Feb 17, 2026Montiel Maritza GomezDirectorSale1,385$327.18$453.1KForm 4
Feb 17, 2026Wilhelmsen Arne AlexanderDirectorSale180,000$325.09$58.5MForm 4
Feb 13, 2026Holtz NaftaliChief Financial OfficerSale51,131$327.39$16.7MForm 4
Feb 13, 2026Liberty Jason TPresident & CEOSale90,910$326.81$29.7MForm 4
Feb 13, 2026Bayley Michael WPres&CEO, Royal Caribbean IntlSale80,000$326.82$26.1MForm 4
Feb 13, 2026Pujol Henry LChief Accounting OfficerSale4,442$327.99$1.5MForm 4
Feb 13, 2026Wilhelmsen Arne AlexanderDirectorSale100,000$326.58$32.7MForm 4
Nov 3, 2025Montiel Maritza GomezDirectorSale1,100$281.76$309.9KForm 4
Aug 19, 2025Sorensen Vagn ODirectorSale10,300$330.04$3.4MForm 4
Aug 6, 2025Fain Richard DDirectorSale16,000$311.02$5.0MForm 4

All 82 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Jason T. LibertyPresident and Chief Executive Officer$1.4M$24.0M95
2025Michael W. BayleyPresident and CEO, Royal Caribbean$1.2M$9.4M95
2025Naftali HoltzChief Financial Officer$946.8K$7.1M95
2025Laura Hodges BethgePresident, Celebrity Cruises$893.5K$6.0M95
2025Harri U. KulovaaraEVP, Maritime$932.8K$4.9M95
2024Jason T. LibertyPresident and Chief Executive Officer$1.3M$19.5M95
2024Michael W. BayleyPresident and CEO, Royal Caribbean$1.1M$9.0M95
2024Naftali HoltzChief Financial Officer$896.9K$5.9M95
2024Harri U. KulovaaraEVP, Maritime$904.9K$4.7M95
2024Laura Hodges BethgePresident, Celebrity Cruises$798.9K$4.3M95
2023Jason T. LibertyPresident and Chief Executive Officer$1.2M$17.2M95
2023Michael W. BayleyPresident and CEO, Royal Caribbean$1.1M$10.8M95
2023Naftali HoltzChief Financial Officer$792.5K$4.9M95
2023Harri U. KulovaaraEVP, Maritime$878.2K$4.7M95
2023Laura Hodges BethgePresident, Celebrity Cruises$724.1K$3.3M95

Members of Congress who traded it

9 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 27, 2026Alan ArmstrongRepublican, SenateBuy$1,001 - $15,000−14.8%Report
Dec 31, 2025Dan NewhouseRepublican, HouseBuy$1,001 - $15,000−12.8%Report
May 12, 2025Jefferson ShreveRepublican, HouseSale$50,001 - $100,000+16.8%Report
Apr 8, 2025Robert P. Bresnahan, Jr.Republican, HouseBuy$1,001 - $15,000−0.1%Report
Mar 24, 2025George WhitesidesDemocratic, HouseSale$100,001 - $250,000+10.2%Report
Jan 13, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000+9.5%Report
Sep 13, 2023Susie LeeDemocratic, HouseSale$1,001 - $15,000−114.8%Report
Apr 2, 2020Dean Phillips, HouseBuy$1,001 - $15,000+821.7%Report
Mar 18, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+932.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Royal Caribbean Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARROYAL CARIBBEAN CRUISES LTD2
  • CIK0000884887
  • Employer ID (EIN)98-008164519
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company19
  • Incorporated inLiberia19
  • Fiscal year endsDecember 312
  • Industry code (SIC)4400 Water Transportation2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address1050 Caribbean Way, Miami, FL 331322
  • Phone30553960002
  • Shares outstanding267,452,084 as of Jul 24, 202617
  • Public float$79.1B as of Jun 30, 202519
  • AuditorPricewaterhouseCoopers LLP, Miami, Florida PCAOB ID 238; it also attests to the company’s internal control over financial reporting19
  • On EDGAR sinceFeb 13, 19972
  • Filings2,263 in all: 4 (1,289), 8-K (358), 6-K (105), 10-Q (65), SC 13G/A (64), 144 (53), 3 (49), 424B5 (27)2
    All 37 form types

    SC 13G (26), UPLOAD (26), 4/A (25), CORRESP (24), 10-K (22), DEF 14A (22), DEFA14A (19), SCHEDULE 13G/A (15), ARS (11), S-8 (10), FWP (9), S-3ASR (7), 20-F (6), 8-K/A (6), 3/A (4), F-3 (3), 25-NSE (2), 5 (2), 8-A12B (2), NO ACT (2), PRE 14A (2), 6-K/A (1), DEFR14A (1), F-3MEF (1), POS AM (1), RW (1), S-3 (1), SC 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 11, 2026
    Quarterly report (10-Q) Jul 28, 2026
    Proxy statement (DEF 14A) Apr 17, 2026
    Latest 8-K (8-K) Sep 23, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $.01 per shareRCLNew York Stock Exchange

From the cover page of the 10-K filed Feb 11, 2026 (Section 12(b) of the Exchange Act).19

Risk factors and legal proceedings

The risks Royal Caribbean Group names in Item 1A of its 10-K filed Feb 11, 2026: 36 risks under these headings, as written.19

  • Macroeconomic, Business, Market and Operational Risks
  • Adverse economic or other conditions could reduce the demand for cruises and passenger spending, adversely impacting our operating results, cash flows and financial condition including impairing the value of our goodwill, ships, trademarks and other assets and potentially affecting other critical accounting estimates where the impact may be material to our operating results.
  • Our operating costs could increase due to market forces and economic or geopolitical factors beyond our control.
  • Price increases for commercial airline services for our guests or major changes or reduction in commercial airline services and/or availability could adversely impact the demand for cruises and undermine our ability to provide reasonably priced vacation packages to our guests.
  • Terrorist attacks, war, and other similar events could have a material adverse impact on our business and results of operations.
  • Disease outbreaks or an increase in concern about the risk of illness could adversely impact our business and results of operations, and may cause significant disruptions, create new risks, and exacerbate existing risks.
  • Incidents on ships, at port facilities, land destinations and/or affecting the cruise vacation industry in general, and the associated negative media coverage and publicity, have affected and could continue to affect our reputation and impact our sales and results of operations.
  • Significant weather, climate events and/or natural disasters could adversely impact our business and results of operations.
  • Our sustainability activities, including initiatives to sustain our planet, energize communities and accelerate innovation, could result in reputational risks, increased costs and other risks.
  • Our reliance on shipyards, their subcontractors and our suppliers to implement our newbuild and ship upgrade programs and to repair and maintain our ships exposes us to risks which could adversely impact our business.
  • An increase in capacity worldwide or excess capacity in a particular market could adversely impact our cruise sales and/or pricing.
  • Unavailability of ports of call may adversely affect our results of operations.
The other 25 risks
  • We may lose business to competitors throughout the vacation market.
  • If we are unable to appropriately manage our cost and capital allocation strategies with our goal of satisfying guest expectations, it may adversely impact our business success.
  • Our expansion into new markets and investments in new ventures and land-based destination projects may not be successful.
  • Our reliance on travel advisors to sell and market our cruises exposes us to certain risks which could adversely impact our business.
  • Business activities that involve our co-investments with third parties may subject us to additional risks.
  • Past or potential acquisitions that we may decide to pursue in the future carry inherent risks which could adversely impact our financial performance and condition.
  • We rely on supply chain vendors and third-party service providers who are integral to the operations of our businesses. These vendors and service providers may be unable or unwilling to deliver on their commitments or may act in ways that could harm our business.
  • The potential unavailability of insurance coverage, an inability to obtain insurance coverage at commercially reasonable rates or our failure to have coverage in sufficient amounts to cover our incurred losses may adversely affect our financial condition or results of operations.
  • Disruptions in our shoreside or shipboard operations or our information systems may adversely affect our results of operations.
  • Provisions of our Articles of Incorporation, By-Laws and Liberian law could inhibit a change of control and may prevent efforts by our shareholders to change our management.
  • Financial Risks
  • We may not be able to obtain sufficient financing or capital for our needs or may not be able to do so on terms that are acceptable or consistent with our expectations.
  • Our liquidity could be adversely impacted if we are unable to satisfy the covenants required by our credit facilities.
  • There can be no assurance that we will declare or pay dividends in the future or that we will repurchase shares pursuant to our share repurchase program consistent with historical amounts or at all.
  • Compliance and Regulatory Risks
  • Changes in U.S. or other countries’ foreign travel policy have affected, and may continue to affect our results of operations.
  • Factors associated with climate change, including an increasing global regulatory focus, could adversely affect our business.
  • Labor, health and safety, financial responsibility, maritime and other regulations and measures could affect operations and increase operating costs.
  • A change in our tax status under the United Kingdom tonnage tax, the U.S. Internal Revenue Code, or other jurisdictions, may have adverse effects on our results of operations.
  • We are not a U.S. corporation and, as a result, our shareholders may be subject to the uncertainties of a foreign legal system in protecting their interests.
  • General Risk Factors
  • Conducting business globally results in increased regulatory, financial, and other risks.
  • Fluctuations in foreign currency exchange rates, fuel prices and interest rates could affect our financial results.
  • Impairment of our goodwill, intangible assets, long-lived assets, equity investments and notes receivable could adversely affect our financial condition and operating results.
  • The loss of key personnel, our inability to recruit or retain qualified personnel, or disruptions among our shipboard personnel could adversely affect our results of operations.
  • If we are unable to keep pace with developments, design, and implementation in technology, our operations or competitive position could become impaired. Our use of emerging technologies, including artificial intelligence, may present business, compliance and reputational risks.
  • We are exposed to cybersecurity attacks and data breaches and the risks and costs associated with protecting our systems and maintaining data integrity and security.
  • Litigation, enforcement actions, fines or penalties could adversely impact our financial condition or results of operations and/or damage our reputation.

Legal proceedings

As previously reported, a lawsuit was filed against us in August 2019 in the U.S. District Court for the Southern District of Florida (the "Court") under Title III of the Cuban Liberty and Democratic Solidarity Act, also known as the Helms-Burton Act. The complaint filed by Havana Docks Corporation ("Havana Docks Action") alleges it holds an interest in the Havana Cruise Port Terminal, which was expropriated by the Cuban government. The complaint further alleges that we trafficked in the terminal by embarking and disembarking passengers at these facilities. The plaintiffs seek all available statutory remedies, including the value of the expropriated property, plus interest, treble damages, attorneys’ fees and costs.

The Court entered final judgment in December 2022 in favor of the plaintiff and awarded damages and attorneys' fees to the plaintiff in the aggregate amount of approximately $112 million. We then appealed the judgment to the United States Court of Appeals for the 11th Circuit. On October 22, 2024, the 11th Circuit issued an opinion reversing the lower court’s judgment. The plaintiff's petition for a rehearing by the full 11th Circuit was subsequently denied. The plaintiff petitioned the United States Supreme Court for a writ of certiorari, which was granted on October 3, 2025.

The opening of Item 3, Legal Proceedings.19

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