Global cruise operator
Royal Caribbean Cruises Ltd.
Royal Caribbean Group earns revenue from cruise tickets and onboard goods and services. It spends on shipbuilding, satellite connectivity, food and beverages, and port access, while using an equity investment to participate in the German cruise market.
RCL Updated Sep 11, 2026 3 AI consumers· 2 recurring
Per the valuechain.wiki graph, Royal Caribbean Cruises Ltd. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 7 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 total revenue: US$17.935 billion (SEC Form 10-K XBRL, filed 2026-02-11)
- Segments · Passenger tickets · Onboard and other
Revenue from
- Cruise ticket customers High confidence· Amount $12.5B · FY2025 · Passenger ticket revenue recognized from cruise ticket customers
Cruise passengers are the core customer group paying fares and, where applicable, air transportation to and from ships. The company recognizes ticket revenue over the duration of each passenger cruise contract.Confirms KO Korea Investment & Securities Published Jul 30, 2025: Royal Caribbean Cruises (RCL US): FY2Q25 Review: Sailing Through a Tough Market - Onboard goods and services customers High confidence· Amount $5.4B · FY2025 · Onboard and other revenue recognized from onboard customers and related activities
Guests buy food and beverages, casino play, internet access, shore excursions, and other services outside the base fare. This customer spending forms the core of onboard and other revenue.
Pays to
- SpaceX High confidence
SpaceX supplies Starlink satellite internet across Royal Caribbean Group's entire fleet. Contract value and service fees were not disclosed.Confirms EN Royal Caribbean Group Published Aug 30, 2022: Royal Caribbean Group to Use SpaceX's Starlink Across Full Cruise Fleet - Meyer Turku Oy High confidence
Meyer Turku builds Icon-class ships for the Royal Caribbean brand. The shipyard-specific contract value was not disclosed separately from the overall orderbook. - Chantiers de l'Atlantique High confidence
Chantiers de l'Atlantique builds major new ships for Royal Caribbean and Celebrity Cruises. The shipyard-specific contract value was not disclosed separately from the overall orderbook. - The Coca-Cola Company Medium confidence
Royal Caribbean uses Coca-Cola Freestyle machines and dedicated cups in onboard beverage packages across much of its fleet. It has not disclosed whether the contracting supplier is The Coca-Cola Company or a regional bottler, nor the procurement value.Mentions EN Cruise Critic Published Mar 2, 2026: Royal Caribbean Removes Coca-Cola Souvenir Cup From Two Beverage Packages
Investments
- TUI Cruises GmbH High confidence· Amount $990M · as of 2025-12-31 · Net book value of the investment in TUI Cruises
Royal Caribbean Group jointly owns TUI Cruises with TUI AG and accounts for the holding under the equity method. The venture operates Mein Schiff and Hapag-Lloyd Cruises in the German market.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Royal Caribbean Cruises Ltd. | node | +3 | -35.7 | +162 | +79 | +22.5 | -3.9 |
| The Coca-Cola Company | benef1 | +11.4 | +10.6 | -4.4 | +8.9 | +15.6 | +27.7 |
| SpaceX | benef1 | · | · | · | · | · | +0.7 |
| STMicroelectronics | benef2 | +32.4 | -26.8 | +41.7 | -49.7 | +5.3 | +102.2 |
| Live Nation Entertainment, Inc. | benef2 | +62.9 | -41.7 | +34.2 | +38.4 | +10 | +21.8 |
| Monster Beverage Corporation | benef2 | +3.8 | +5.7 | +13.5 | -8.8 | +45.9 | +14.3 |
| Ecolab Inc. | benef2 | +9.4 | -37.1 | +37.9 | +19.3 | +13.2 | +7 |
| Adobe Inc. | benef2 | +13.4 | -40.7 | +77.3 | -25.5 | -21.3 | -23.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Royal Caribbean Cruises Ltd. operates across Global cruise operator. It is -3.9% in 2026. The stock (-3.9%) and its supply side (avg +14.2%) are moving in step. Among connected nodes the furthest ahead is The Coca-Cola Company (+27.7%) and the furthest behind is SpaceX (+0.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on shipbuilding, satellite connectivity, food and beverages, and port access, while using an equity investment to participate in the German cruise market.
Analysis generated from returns as of 2026-09-04