Royal Caribbean Cruises Ltd.


SKU: RCL Category:


This is our first report on Royal Caribbean Cruises, a well-known player operating three cruise vacation brands, including Royal Caribbean International, Celebrity Cruises and Silversea Cruises. The company has seen a strong recovery post the pandemic and its last result was another all-around beat. Royal Caribbean Cruises has seen strong demand, fighting off inflation, and continues to focus on its value proposition of providing the best-quality vacations in the world. During the quarter, the company’s proactive refinancing measures and solid financial performance improved its debt maturity profile and boosted its liquidity. They also launched the Trifecta program to deliver high-quality vacations worldwide while achieving the targets over the next years. In the quarter, they also disclosed their intention to inaugurate a brand. We initiate coverage on the stock of Royal Caribbean Cruises with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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