Is it safe?
Can RCL take a bad year?
Royal Caribbean Group carries $22.0B of net debt at 3.17× EBITDA: a load its earnings can carry.
$22.0B
Net debt · as at Q2 2026 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 3.17×
Net debt / EBITDA · 2.96× a year ago · the load is going up
- Altman Z-score
- 2.40
Altman Z-score · grey zone, between 1.8 and 3
- Cash runway
- 2.1 years
Cash runway · burning $104M a quarter at the current rate
Details›
- Total debtQ2 2026
- $22.8B
- Cash and short-term investments
- $875M
- Net debt
- $22.0B
- EBITDA, trailing twelve months
- $6.92B
- Operating profit, trailing twelve months
- $5.10B
- Debt / equity
- 2.23×
- Total debt / EBITDA
- 3.30×
- Annualised volatilitytwo years of daily moves
- 46%
- Worst drawdown on file
- −83%
- Below its 52-week high
- −19%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Travel Services
Ranks #5 of 11 by Smart Score