Royal Caribbean Cruises Ltd.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.13B | $941.0M | $753.0M | $1.58B | $1.21B | $730.0M | $552.0M | $1.11B |
| Depreciation & Amortization | $464.0M | $461.0M | $454.0M | $435.0M | $417.0M | $412.0M | $410.0M | $410.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $30.0M | $38.0M | $39.0M | $44.0M | $39.0M | $53.0M | $158.0M | $26.0M |
| Net Cash from Operating Activities | $1.86B | $1.83B | $1.62B | $1.47B | $1.75B | $1.63B | $1.47B | $897.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $2.74B | $500.0M | $1.51B | $2.46B | $836.0M | $428.0M | $552.0M | $334.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-2.67B | $-529.0M | $-1.48B | $-2.39B | $-706.0M | $-440.0M | $-641.0M | $-311.0M |
| Financing Activities | ||||||||
| Dividends Paid | $404.0M | $270.0M | $272.0M | $204.0M | $200.0M | $148.0M | $107.0M | $0 |
| Stock Repurchases | $199.0M | $836.0M | $504.0M | $414.0M | $0 | $241.0M | $0 | $0 |
| Net Cash from Financing Activities | $1.18B | $-1.62B | $254.0M | $615.0M | $-696.0M | $-1.19B | $-852.0M | $-559.0M |
| Net Change in Cash | $363.0M | $-313.0M | $393.0M | $-303.0M | $349.0M | $-2.0M | $-30.0M | $27.0M |
| Free Cash Flow | $-877.0M | $1.33B | $116.0M | $-989.0M | $910.0M | $1.20B | $915.0M | $563.0M |