Filing Flows › Royal Caribbean Cruises (RCL) › Operating margin
Royal Caribbean Cruises (RCL) operating margin by quarter
Royal Caribbean Cruises' operating margin was 33.5% in Q3 2026 (third quarter 2026), +6.4 pts from Q2 2026. Over the last 7 quarters it ranged from 21.9% (Q4 2025) to 33.5% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 33.5% | +6.4 pts | +0.3 pts |
| Q2 2026 | 27.0% | +0.9 pts | -2.2 pts |
| Q1 2026 | 26.1% | +4.2 pts | +2.5 pts |
| Q4 2025 | 21.9% | -11.2 pts | — |
| Q3 2025 | 33.1% | +3.8 pts | — |
| Q2 2025 | 29.3% | +5.7 pts | — |
| Q1 2025 | 23.6% | — | — |
Q3 2026 at a glance
Royal Caribbean Cruises, Q3 2026: revenue $5.6B (+9% year over year), operating margin 33.5%, net earnings $1.7B, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
Questions
What is Royal Caribbean Cruises' operating margin?
Royal Caribbean Cruises' operating margin was 33.5% in Q3 2026 (third quarter 2026), +6.4 pts from Q2 2026.
How has Royal Caribbean Cruises' operating margin changed?
Over the last 7 quarters it ranged from 21.9% (Q4 2025) to 33.5% (Q3 2026).
Q3 2026 results → · How Royal Caribbean Cruises makes money →