Royal Caribbean Group (MEX:RCL) Operating Income: MXN94,036 Mil (TTM As of Mar. 2026)


MEX:RCL Royal Caribbean Group MEX:RCL
75 GF Score
Price MXN5,060.00
GF Value MXN4,340.54
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Royal Caribbean Group Operating Income?

Royal Caribbean Group MEX:RCL -0.30% 75 Operating Income is MXN94,036 Mil as of Mar. 2026. GuruFocus rates MEX:RCL with a GF Score™ of 75/100 and a GF Value™ of MXN4,340.54 (Modestly Overvalued). The stock has 4 warning signs investors should review.

Royal Caribbean Group's Operating Income for the three months ended in Mar. 2026 was MXN20,954 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN94,036 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Royal Caribbean Group's Operating Income for the three months ended in Mar. 2026 was MXN20,954 Mil. Royal Caribbean Group's Revenue for the three months ended in Mar. 2026 was MXN80,282 Mil. Therefore, Royal Caribbean Group's Operating Margin % for the quarter that ended in Mar. 2026 was 26.10%.

Royal Caribbean Group's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Royal Caribbean Group's annualized ROC % for the quarter that ended in Mar. 2026 was 9.40%. Royal Caribbean Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.79%.

Royal Caribbean Group  (MEX:RCL) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Royal Caribbean Group's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=83815.988 * ( 1 - 2.66% )/( (872988.36 + 863279.448)/ 2 )
=81586.4827192/868133.904
=9.40 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=749379.229 - 53638.98 - ( 14854.703 - max(0, 217058.714 - 39810.603+14854.703))
=872988.36

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=757193.074 - 53701.381 - ( 9232.742 - max(0, 199531.826 - 39744.071+9232.742))
=863279.448

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Royal Caribbean Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=90452.024/( ( (653895.002 + max(-133224.175, 0)) + (658103.387 + max(-141484.564, 0)) )/ 2 )
=90452.024/( ( 653895.002 + 658103.387 )/ 2 )
=90452.024/655999.1945
=13.79 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5707.807 + 4753.505 + 14494.588) - (53638.98 + 103334.712 + 1206.383)
=-133224.175

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8637.663 + 4886.862 + 16986.804) - (53701.381 + 118078.12 + 216.39199999999)
=-141484.564

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Royal Caribbean Group's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=20953.997/80281.58
=26.10 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Royal Caribbean Group Operating Income Related Terms

Royal Caribbean Group Operating Income Historical Data

* Premium members only.

The historical data trend for Royal Caribbean Group's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Royal Caribbean Group Operating Income Chart

Royal Caribbean Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -79,389.18 -14,933.94 48,851.89 85,675.22 88,407.99

Royal Caribbean Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19,373.92 25,042.84 31,221.83 16,817.32 20,954.00
MEX:RCL
75GF Score
Royal Caribbean Group MEX:RCL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Royal Caribbean Group Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN94,036 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of MXN94,036 Mil mean?
Royal Caribbean Group (MEX:RCL) has a Operating Income of MXN94,036 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Royal Caribbean Group and its competitors.
Is Royal Caribbean Group's Operating Income too high?
Royal Caribbean Group's current Operating Income is MXN94,036 Mil. Overall, Royal Caribbean Group has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Royal Caribbean Group's Operating Income compare to ABNB and VIK?
Royal Caribbean Group's Operating Income of MXN94,036 Mil can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Royal Caribbean Group and its competitors. Royal Caribbean Group's current Operating Income is MXN94,036 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Royal Caribbean Group stock overvalued right now?
Based on GuruFocus' analysis, Royal Caribbean Group (MEX:RCL) is currently considered Modestly Overvalued. The stock's GF Value™ is MXN4,340.54, compared to a current price of MXN5,060.00 — trading 16.6% above its estimated fair value. The current Operating Income is MXN94,036 Mil. Royal Caribbean Group's overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Royal Caribbean Group (MEX:RCL), the current Operating Income is MXN94,036 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Royal Caribbean Group (MEX:RCL) Overvalued in 2026?

Based on GuruFocus' analysis, Royal Caribbean Group stock appears to be overvalued. The current stock price of MXN5,060.00 is trading 16.6% above its estimated GF Value™ of MXN4,340.54. GuruFocus considers Royal Caribbean Group to be Modestly Overvalued.

Key valuation signals for MEX:RCL:

  • Operating Income: MXN94,036 Mil
  • GF Value™: MXN4,340.54 vs. price of MXN5,060.00 (16.6% above fair value)
  • GF Score™: 75/100 with 4 warning signs

No single metric tells the full story. See the MEX:RCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Royal Caribbean Group Business Description

Address 1050 Caribbean Way, Miami, FL, USA, 33132
Royal Caribbean is the world's second-largest cruise company by revenues, operating 69 ships across five global and partner brands in the cruise vacation industry. Brands the company operates include Royal Caribbean International, Celebrity Cruises, and Silversea. The company also has a 50% investment in a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. The selection of brands in the portfolio allows Royal to compete on the basis of innovation, quality of ships and service, variety of itineraries, choice of destinations, and price. The company completed the divestiture of its Azamara brand in 2021, plans to launch its new Celebrity River Cruise brand in 2027, and is set to operate eight private destination locations by 2028.
75GF Score

Get the complete analysis for MEX:RCL

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN5,060.00
Price
MXN4,340.54
GF Value