48/100B327.15
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4.32
(1.34%)
Post Trading·327.51USD+0.36(+0.11%)
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Royal Caribbean Group total debt 1991–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Royal Caribbean Group's total debt was 23.17B USD on 30 September 2026, up 10.5% on a year before. At the end of fiscal year 2025 it was 22.64B USD.
Last updated 6 Nov 2026 · Next report 4 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 23.17B | +10.46% | 851.00M | -22.32B | 1.98 |
| FY2025 | 31 Dec 2025 | 22.64B | +8.72% | 940.00M | -21.70B | 2.26 |
| FY2024 | 31 Dec 2024 | 20.82B | -5.92% | 388.00M | -20.43B | 2.75 |
| FY2023 | 31 Dec 2023 | 22.13B | -7.77% | 497.00M | -21.63B | 4.68 |
| FY2022 | 31 Dec 2022 | 23.99B | +10.60% | 1.94B | -22.06B | 8.36 |
| FY2021 | 31 Dec 2021 | 21.69B | +8.49% | 2.70B | -18.99B | 4.27 |
| FY2020 | 31 Dec 2020 | 20.00B | +70.41% | 3.68B | -16.31B | 2.28 |
| FY2019 | 31 Dec 2019 | 11.73B | +8.87% | 243.74M | -11.49B | 0.96 |
| FY2018 | 31 Dec 2018 | 10.78B | +42.95% | 287.85M | -10.49B | 0.97 |
| FY2017 | 31 Dec 2017 | 7.54B | -19.69% | 120.11M | -7.42B | 0.70 |
| FY2016 | 31 Dec 2016 | 9.39B | +10.09% | 132.60M | -9.25B | 1.03 |
| FY2015 | 31 Dec 2015 | 8.53B | +0.99% | 121.57M | -8.41B | 1.06 |
| FY2014 | 31 Dec 2014 | 8.44B | +4.57% | 189.24M | -8.25B | 1.02 |
| FY2013 | 31 Dec 2013 | 8.07B | -4.89% | 204.69M | -7.87B | 0.92 |
| FY2012 | 31 Dec 2012 | 8.49B | -0.07% | 194.86M | -8.30B | 1.02 |
| FY2011 | 31 Dec 2011 | 8.50B | -7.15% | 262.19M | -8.23B | 1.01 |
| FY2010 | 31 Dec 2010 | 9.15B | +8.67% | 419.93M | -8.73B | 1.15 |
| FY2009 | 31 Dec 2009 | 8.42B | +20.09% | 284.62M | -8.14B | 1.12 |
| FY2008 | 31 Dec 2008 | 7.01B | +23.04% | 484.81M | -6.53B | 1.03 |
| FY2007 | 31 Dec 2007 | 5.70B | +5.26% | 444.68M | -5.25B | 0.84 |
| FY2006 | 31 Dec 2006 | 5.41B | +30.30% | 140.67M | -5.27B | 0.89 |
| FY2005 | 31 Dec 2005 | 4.15B | -37.12% | 125.39M | -4.03B | 0.75 |
| FY2004 | 31 Dec 2004 | 6.61B | +13.22% | 628.58M | -5.98B | 1.38 |
| FY2003 | 31 Dec 2003 | 5.84B | +7.18% | 330.09M | -5.51B | 1.37 |
| FY2002 | 31 Dec 2002 | 5.44B | -3.56% | 242.58M | -5.20B | 1.35 |
| FY2001 | 31 Dec 2001 | 5.65B | +65.57% | 727.18M | -4.92B | 1.50 |
| FY2000 | 31 Dec 2000 | 3.41B | +45.60% | 177.81M | -3.23B | 0.94 |
| FY1999 | 31 Dec 1999 | 2.34B | -5.14% | 63.47M | -2.28B | 0.72 |
| FY1998 | 31 Dec 1998 | 2.47B | -4.03% | 172.92M | -2.30B | 1.01 |
| FY1997 | 31 Dec 1997 | 2.57B | +88.20% | 110.80M | -2.46B | 1.27 |
| FY1996 | 31 Dec 1996 | 1.37B | +46.09% | 40.40M | -1.33B | 1.26 |
| FY1995 | 31 Dec 1995 | 935.70M | +25.24% | 31.30M | -904.40M | 0.97 |
| FY1994 | 31 Dec 1994 | 747.10M | -6.40% | 23.90M | -723.20M | 0.88 |
| FY1993 | 31 Dec 1993 | 798.20M | -28.80% | 32.30M | -765.90M | 1.09 |
| FY1992 | 31 Dec 1992 | 1.12B | +10.15% | 56.50M | -1.06B | 2.41 |
| FY1991 | 31 Dec 1991 | 1.02B | — | 27.40M | -990.30M | 2.52 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 23.17B | +10.46% | 851.00M | -22.32B | 1.98 |
| Q2 FY2026 | 30 Jun 2026 | 23.52B | +19.16% | 875.00M | -22.64B | 2.30 |
| Q1 FY2026 | 31 Mar 2026 | 21.79B | +8.32% | 512.00M | -21.28B | 2.22 |
| Q4 FY2025 | 31 Dec 2025 | 22.64B | +8.72% | 940.00M | -21.70B | 2.26 |
| Q3 FY2025 | 30 Sept 2025 | 20.98B | -2.70% | 641.00M | -20.33B | 2.08 |
| Q2 FY2025 | 30 Jun 2025 | 19.74B | -9.35% | 735.00M | -19.00B | 2.15 |
| Q1 FY2025 | 31 Mar 2025 | 20.12B | -5.03% | 386.00M | -19.73B | 2.53 |
| Q4 FY2024 | 31 Dec 2024 | 20.82B | -5.92% | 388.00M | -20.43B | 2.75 |
| Q3 FY2024 | 30 Sept 2024 | 21.56B | +4.81% | 418.00M | -21.14B | 3.06 |
| Q2 FY2024 | 30 Jun 2024 | 21.77B | +3.59% | 391.00M | -21.38B | 3.62 |
| Q1 FY2024 | 31 Mar 2024 | 21.19B | -3.91% | 437.00M | -20.75B | 4.11 |
| Q4 FY2023 | 31 Dec 2023 | 22.13B | -7.77% | 497.00M | -21.63B | 4.68 |
| Q3 FY2023 | 30 Sept 2023 | 20.57B | -14.11% | 600.12M | -19.97B | 4.65 |
| Q2 FY2023 | 30 Jun 2023 | 21.02B | -11.86% | 726.42M | -20.29B | 6.25 |
| Q1 FY2023 | 31 Mar 2023 | 22.05B | -4.55% | 1.23B | -20.82B | 7.73 |
| Q4 FY2022 | 31 Dec 2022 | 23.99B | +10.60% | 1.94B | -22.06B | 8.36 |
| Q3 FY2022 | 30 Sept 2022 | 23.95B | +11.59% | 1.57B | -22.38B | 7.47 |
| Q2 FY2022 | 30 Jun 2022 | 23.85B | +10.05% | 2.10B | -21.74B | 7.02 |
| Q1 FY2022 | 31 Mar 2022 | 23.10B | +7.04% | 1.97B | -21.13B | 5.79 |
| Q4 FY2021 | 31 Dec 2021 | 21.69B | +8.49% | 2.70B | -18.99B | 4.27 |
| Q3 FY2021 | 30 Sept 2021 | 21.46B | +9.83% | 3.29B | -18.17B | 3.32 |
| Q2 FY2021 | 30 Jun 2021 | 21.67B | +11.11% | 4.25B | -17.42B | 2.75 |
| Q1 FY2021 | 31 Mar 2021 | 21.58B | +29.13% | 5.09B | -16.49B | 2.35 |
| Q4 FY2020 | 31 Dec 2020 | 20.00B | +70.41% | 3.68B | -16.31B | 2.28 |
| Q3 FY2020 | 30 Sept 2020 | 19.54B | +71.42% | 3.02B | -16.52B | 2.35 |
| Q2 FY2020 | 30 Jun 2020 | 19.50B | +67.37% | 4.15B | -15.35B | 2.18 |
| Q1 FY2020 | 31 Mar 2020 | 16.71B | +50.81% | 3.89B | -12.82B | 1.63 |
| Q4 FY2019 | 31 Dec 2019 | 11.73B | +8.87% | 243.74M | -11.49B | 0.96 |
| Q3 FY2019 | 30 Sept 2019 | 11.40B | +12.03% | 276.73M | -11.12B | 0.95 |
| Q2 FY2019 | 30 Jun 2019 | 11.65B | +36.77% | 235.00M | -11.42B | 1.01 |
| Q1 FY2019 | 31 Mar 2019 | 11.08B | +25.80% | 248.20M | -10.83B | 0.98 |
| Q4 FY2018 | 31 Dec 2018 | 10.78B | +42.95% | 287.85M | -10.49B | 0.97 |
| Q3 FY2018 | 30 Sept 2018 | 10.17B | +34.01% | 254.82M | -9.92B | 0.90 |
| Q2 FY2018 | 30 Jun 2018 | 8.52B | +6.22% | 109.00M | -8.41B | 0.79 |
| Q1 FY2018 | 31 Mar 2018 | 8.81B | +2.79% | 111.25M | -8.70B | 0.83 |
| Q4 FY2017 | 31 Dec 2017 | 7.54B | -19.69% | 120.11M | -7.42B | 0.70 |
| Q3 FY2017 | 30 Sept 2017 | 7.59B | -21.87% | 139.95M | -7.45B | 0.73 |
| Q2 FY2017 | 30 Jun 2017 | 8.02B | -20.19% | 130.48M | -7.89B | 0.83 |
| Q1 FY2017 | 31 Mar 2017 | 8.57B | -1.53% | 109.31M | -8.46B | 0.92 |
| Q4 FY2016 | 31 Dec 2016 | 9.39B | +10.09% | 132.60M | -9.25B | 1.03 |
| Q3 FY2016 | 30 Sept 2016 | 9.72B | +14.46% | 178.43M | -9.54B | 1.11 |
| Q2 FY2016 | 30 Jun 2016 | 10.05B | +14.44% | 175.16M | -9.87B | 1.23 |
| Q1 FY2016 | 31 Mar 2016 | 8.70B | +1.67% | 117.36M | -8.58B | 1.10 |
| Q4 FY2015 | 31 Dec 2015 | 8.53B | +0.99% | 121.57M | -8.41B | 1.06 |
| Q3 FY2015 | 30 Sept 2015 | 8.49B | +21.53% | 147.42M | -8.34B | 1.03 |
| Q2 FY2015 | 30 Jun 2015 | 8.78B | +15.63% | 159.36M | -8.62B | 1.06 |
| Q1 FY2015 | 31 Mar 2015 | 8.56B | +7.03% | 229.71M | -8.33B | 1.07 |
| Q4 FY2014 | 31 Dec 2014 | 8.44B | +4.57% | 189.24M | -8.25B | 1.02 |
| Q3 FY2014 | 30 Sept 2014 | 6.99B | -11.83% | 183.18M | -6.80B | 0.77 |
| Q2 FY2014 | 30 Jun 2014 | 7.59B | -8.00% | 185.26M | -7.41B | 0.86 |
| Q1 FY2014 | 31 Mar 2014 | 8.00B | -5.55% | 216.51M | -7.78B | 0.91 |
| Q4 FY2013 | 31 Dec 2013 | 8.07B | -4.89% | 204.69M | -7.87B | 0.92 |
| Q3 FY2013 | 30 Sept 2013 | 7.92B | +1.86% | 209.57M | -7.71B | 0.90 |
| Q2 FY2013 | 30 Jun 2013 | 8.25B | +0.35% | 205.17M | -8.05B | 0.99 |
| Q1 FY2013 | 31 Mar 2013 | 8.47B | -0.83% | 215.89M | -8.25B | 1.02 |
| Q4 FY2012 | 31 Dec 2012 | 8.49B | -0.07% | 194.86M | -8.30B | 1.02 |
| Q3 FY2012 | 30 Sept 2012 | 7.78B | -11.36% | 241.24M | -7.54B | 0.89 |
| Q2 FY2012 | 30 Jun 2012 | 8.23B | -4.41% | 212.21M | -8.01B | 0.99 |
| Q1 FY2012 | 31 Mar 2012 | 8.54B | -2.75% | 277.53M | -8.26B | 0.99 |
| Q4 FY2011 | 31 Dec 2011 | 8.50B | -7.15% | 262.19M | -8.23B | 1.01 |
| Q3 FY2011 | 30 Sept 2011 | 8.78B | +8.54% | 451.46M | -8.32B | 1.04 |
| Q2 FY2011 | 30 Jun 2011 | 8.60B | +6.10% | 551.46M | -8.05B | 1.03 |
| Q1 FY2011 | 31 Mar 2011 | 8.78B | +8.34% | 470.26M | -8.31B | 1.06 |
| Q4 FY2010 | 31 Dec 2010 | 9.15B | +8.67% | 419.93M | -8.73B | 1.15 |
| Q3 FY2010 | 30 Sept 2010 | 8.08B | +10.81% | 479.45M | -7.61B | 1.03 |
| Q2 FY2010 | 30 Jun 2010 | 8.11B | +19.82% | 364.34M | -7.75B | 1.12 |
| Q1 FY2010 | 31 Mar 2010 | 8.10B | +16.31% | 361.21M | -7.74B | 1.09 |
| Q4 FY2009 | 31 Dec 2009 | 8.42B | +20.09% | 284.62M | -8.14B | 1.12 |
| Q3 FY2009 | 30 Sept 2009 | 7.30B | +21.02% | 285.86M | -7.01B | 0.98 |
| Q2 FY2009 | 30 Jun 2009 | 6.77B | +6.23% | 309.76M | -6.46B | 0.96 |
| Q1 FY2009 | 31 Mar 2009 | 6.97B | +17.12% | 455.88M | -6.51B | 1.03 |
| Q4 FY2008 | 31 Dec 2008 | 7.01B | +23.04% | 484.81M | -6.53B | 1.03 |
| Q3 FY2008 | 30 Sept 2008 | 6.03B | +2.03% | 460.59M | -5.57B | 0.86 |
| Q2 FY2008 | 30 Jun 2008 | 6.37B | +9.94% | 687.47M | -5.68B | 0.90 |
| Q1 FY2008 | 31 Mar 2008 | 5.95B | +10.80% | 757.42M | -5.19B | 0.86 |
| Q4 FY2007 | 31 Dec 2007 | 5.70B | +5.26% | 444.68M | -5.25B | 0.84 |
| Q3 FY2007 | 30 Sept 2007 | 5.91B | +32.79% | 411.91M | -5.50B | 0.89 |
| Q2 FY2007 | 30 Jun 2007 | 5.80B | +24.52% | 212.37M | -5.58B | 0.93 |
| Q1 FY2007 | 31 Mar 2007 | 5.37B | +2.49% | 199.62M | -5.17B | 0.88 |
| Q4 FY2006 | 31 Dec 2006 | 5.41B | +30.30% | 140.67M | -5.27B | 0.89 |
| Q3 FY2006 | 30 Sept 2006 | 4.45B | +7.14% | 220.54M | -4.23B | 0.74 |
| Q2 FY2006 | 30 Jun 2006 | 4.65B | -1.70% | 323.18M | -4.33B | 0.82 |
| Q1 FY2006 | 31 Mar 2006 | 5.24B | +2.22% | 271.98M | -4.97B | 0.92 |
| Q4 FY2005 | 31 Dec 2005 | 4.15B | -37.12% | 125.39M | -4.03B | 0.75 |
| Q3 FY2005 | 30 Sept 2005 | 4.15B | -28.92% | 189.21M | -3.96B | 0.75 |
| Q2 FY2005 | 30 Jun 2005 | 4.73B | -20.78% | 298.03M | -4.44B | 0.93 |
| Q1 FY2005 | 31 Mar 2005 | 5.12B | -12.01% | 311.34M | -4.81B | 1.05 |
| Q4 FY2004 | 31 Dec 2004 | 6.61B | +13.22% | 628.58M | -5.98B | 1.38 |
| Q3 FY2004 | 30 Sept 2004 | 5.84B | +5.83% | 740.87M | -5.10B | 1.22 |
| Q2 FY2004 | 30 Jun 2004 | 5.98B | +7.76% | 706.34M | -5.27B | 1.33 |
| Q1 FY2004 | 31 Mar 2004 | 5.82B | +9.48% | 553.00M | -5.27B | 1.33 |
| Q4 FY2003 | 31 Dec 2003 | 5.84B | +7.18% | 330.09M | -5.51B | 1.37 |
| Q3 FY2003 | 30 Sept 2003 | 5.52B | +0.86% | 380.04M | -5.14B | 1.29 |
| Q2 FY2003 | 30 Jun 2003 | 5.55B | -1.13% | 528.98M | -5.02B | 1.36 |
| Q1 FY2003 | 31 Mar 2003 | 5.32B | -2.78% | 150.81M | -5.17B | 1.31 |
| Q4 FY2002 | 31 Dec 2002 | 5.44B | -3.56% | 242.58M | -5.20B | 1.35 |
| Q3 FY2002 | 30 Sept 2002 | 5.47B | +6.48% | 641.81M | -4.83B | 1.36 |
| Q2 FY2002 | 30 Jun 2002 | 5.61B | +17.87% | 593.86M | -5.02B | 1.46 |
| Q1 FY2002 | 31 Mar 2002 | 5.47B | +28.56% | 629.82M | -4.84B | 1.44 |
| Q4 FY2001 | 31 Dec 2001 | 5.65B | +65.57% | 727.18M | -4.92B | 1.50 |
| Q3 FY2001 | 30 Sept 2001 | 5.14B | +54.65% | 764.59M | -4.38B | 1.34 |
| Q2 FY2001 | 30 Jun 2001 | 4.76B | +85.66% | 819.09M | -3.94B | 1.29 |
| Q1 FY2001 | 31 Mar 2001 | 4.26B | +82.84% | 285.72M | -3.97B | 1.17 |
| Q4 FY2000 | 31 Dec 2000 | 3.41B | +45.60% | 177.81M | -3.23B | 0.94 |
| Q3 FY2000 | 30 Sept 2000 | 3.32B | +39.01% | 195.58M | -3.13B | 0.92 |
| Q2 FY2000 | 30 Jun 2000 | 2.56B | +6.57% | 94.01M | -2.47B | 0.75 |
| Q1 FY2000 | 31 Mar 2000 | 2.33B | -5.19% | 102.90M | -2.22B | 0.70 |
| Q4 FY1999 | 31 Dec 1999 | 2.34B | -5.14% | 63.47M | -2.28B | 0.72 |
| Q3 FY1999 | 30 Sept 1999 | 2.39B | -7.26% | 664.80M | -1.73B | 0.75 |
| Q2 FY1999 | 30 Jun 1999 | 2.41B | -9.33% | 156.80M | -2.25B | 0.93 |
| Q1 FY1999 | 31 Mar 1999 | 2.46B | -12.35% | 108.30M | -2.35B | 0.97 |
| Q4 FY1998 | 31 Dec 1998 | 2.47B | -4.03% | 172.92M | -2.30B | 1.01 |
| Q3 FY1998 | 30 Sept 1998 | 2.58B | +7.43% | 350.70M | -2.23B | 1.05 |
| Q2 FY1998 | 30 Jun 1998 | 2.65B | +83.90% | 370.00M | -2.28B | 1.15 |
| Q1 FY1998 | 31 Mar 1998 | 2.80B | +132.06% | 548.10M | -2.25B | 1.24 |
| Q4 FY1997 | 31 Dec 1997 | 2.57B | +88.20% | 110.80M | -2.46B | 1.27 |
| Q3 FY1997 | 30 Sept 1997 | 2.40B | +102.07% | 135.30M | -2.27B | 1.19 |
| Q2 FY1997 | 30 Jun 1997 | 1.44B | +25.68% | 44.80M | -1.40B | 1.10 |
| Q1 FY1997 | 31 Mar 1997 | 1.21B | -0.74% | 37.60M | -1.17B | 0.94 |
| Q4 FY1996 | 31 Dec 1996 | 1.37B | +46.09% | 40.40M | -1.33B | 1.26 |
| Q3 FY1996 | 30 Sept 1996 | 1.19B | +28.63% | 97.20M | -1.09B | 1.11 |
| Q2 FY1996 | 30 Jun 1996 | 1.15B | +17.94% | 28.00M | -1.12B | 1.13 |
| Q1 FY1996 | 31 Mar 1996 | 1.22B | +74.71% | 27.10M | -1.19B | 1.23 |
| Q4 FY1995 | 31 Dec 1995 | 935.70M | +25.24% | 31.30M | -904.40M | 0.97 |
| Q3 FY1995 | 30 Sept 1995 | 923.50M | +25.24% | 31.10M | -892.40M | 0.97 |
| Q2 FY1995 | 30 Jun 1995 | 973.50M | +25.74% | 34.80M | -938.70M | 1.06 |
| Q1 FY1995 | 31 Mar 1995 | 696.00M | -6.93% | 31.40M | -664.60M | 0.78 |
| Q4 FY1994 | 31 Dec 1994 | 747.10M | -6.40% | 23.90M | -723.20M | 0.88 |
| Q3 FY1994 | 30 Sept 1994 | 737.40M | -11.35% | 38.80M | -698.60M | 0.88 |
| Q2 FY1994 | 30 Jun 1994 | 774.20M | -11.12% | 57.30M | -716.90M | 0.98 |
| Q1 FY1994 | 31 Mar 1994 | 747.80M | -32.58% | 27.30M | -720.50M | 0.98 |
| Q4 FY1993 | 31 Dec 1993 | 798.20M | -28.80% | 32.30M | -765.90M | 1.09 |
| Q3 FY1993 | 30 Sept 1993 | 831.80M | — | 30.90M | -800.90M | 1.16 |
| Q2 FY1993 | 30 Jun 1993 | 871.10M | — | 41.60M | -829.50M | 1.26 |
| Q1 FY1993 | 31 Mar 1993 | 1.11B | — | 34.60M | -1.07B | 2.36 |
| Q4 FY1992 | 31 Dec 1992 | 1.12B | +10.15% | 56.50M | -1.06B | 2.41 |
| Q4 FY1991 | 31 Dec 1991 | 1.02B | — | 27.40M | -990.30M | 2.52 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Royal Caribbean Group's debt
Source: Financial Modeling Prep