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Side-by-side financial comparison of Royal Caribbean Group (RCL) and Molson Coors Beverage Company (TAP). Click either name above to swap in a different company.
Royal Caribbean Group is the larger business by last-quarter revenue ($4.3B vs $3.1B, roughly 1.4× Molson Coors Beverage Company). Royal Caribbean Group runs the higher net margin — 17.7% vs 6.7%, a 11.0% gap on every dollar of revenue. On growth, Royal Caribbean Group posted the faster year-over-year revenue change (13.3% vs 6.1%). Molson Coors Beverage Company produced more free cash flow last quarter ($1.1B vs $116.0M). Over the past eight quarters, Royal Caribbean Group's revenue compounded faster (6.9% CAGR vs -9.8%).
Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd ...
Molson Coors Beverage Company is a Canadian-American multinational drink and brewing company headquartered in Chicago, Illinois and Montreal, Quebec.
RCL vs TAP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.3B | $3.1B |
| Net Profit | $753.0M | $209.3M |
| Gross Margin | 47.4% | 31.0% |
| Operating Margin | 21.9% | — |
| Net Margin | 17.7% | 6.7% |
| Revenue YoY | 13.3% | 6.1% |
| Net Profit YoY | 36.4% | -28.7% |
| EPS (diluted) | $2.76 | $1.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $3.1B | ||
| Q4 25 | $4.3B | $3.1B | ||
| Q3 25 | $5.1B | $3.5B | ||
| Q2 25 | $4.5B | $3.7B | ||
| Q1 25 | $4.0B | $2.7B | ||
| Q4 24 | $3.8B | $3.2B | ||
| Q3 24 | $4.9B | $3.6B | ||
| Q2 24 | $4.1B | $3.8B |
| Q1 26 | — | $209.3M | ||
| Q4 25 | $753.0M | $238.3M | ||
| Q3 25 | $1.6B | $-2.9B | ||
| Q2 25 | $1.2B | $428.7M | ||
| Q1 25 | $730.0M | $121.0M | ||
| Q4 24 | $552.0M | $287.8M | ||
| Q3 24 | $1.1B | $199.8M | ||
| Q2 24 | $854.0M | $427.0M |
| Q1 26 | — | 31.0% | ||
| Q4 25 | 47.4% | 31.0% | ||
| Q3 25 | 51.8% | 33.7% | ||
| Q2 25 | 49.7% | 34.3% | ||
| Q1 25 | 48.0% | 31.6% | ||
| Q4 24 | 45.4% | 32.0% | ||
| Q3 24 | 51.1% | 33.4% | ||
| Q2 24 | 47.6% | 34.6% |
| Q1 26 | — | — | ||
| Q4 25 | 21.9% | 10.4% | ||
| Q3 25 | 33.1% | -98.5% | ||
| Q2 25 | 29.3% | 15.6% | ||
| Q1 25 | 23.6% | 6.9% | ||
| Q4 24 | 16.6% | 12.0% | ||
| Q3 24 | 33.4% | 12.5% | ||
| Q2 24 | 26.7% | 15.6% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | 17.7% | 7.6% | ||
| Q3 25 | 30.6% | -84.0% | ||
| Q2 25 | 26.7% | 11.5% | ||
| Q1 25 | 18.3% | 4.5% | ||
| Q4 24 | 14.7% | 8.9% | ||
| Q3 24 | 22.7% | 5.5% | ||
| Q2 24 | 20.8% | 11.1% |
| Q1 26 | — | $1.22 | ||
| Q4 25 | $2.76 | $1.32 | ||
| Q3 25 | $5.74 | $-14.79 | ||
| Q2 25 | $4.41 | $2.13 | ||
| Q1 25 | $2.70 | $0.59 | ||
| Q4 24 | $2.27 | $1.39 | ||
| Q3 24 | $4.21 | $0.96 | ||
| Q2 24 | $3.11 | $2.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $825.0M | $896.5M |
| Total DebtLower is stronger | $18.2B | $3.9B |
| Stockholders' EquityBook value | $10.0B | $10.4B |
| Total Assets | $41.6B | $22.7B |
| Debt / EquityLower = less leverage | 1.81× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $896.5M | ||
| Q4 25 | $825.0M | $896.5M | ||
| Q3 25 | $432.0M | $950.2M | ||
| Q2 25 | $735.0M | $613.8M | ||
| Q1 25 | $386.0M | $412.7M | ||
| Q4 24 | $388.0M | $969.3M | ||
| Q3 24 | $418.0M | $1.0B | ||
| Q2 24 | $391.0M | $1.6B |
| Q1 26 | — | $3.9B | ||
| Q4 25 | $18.2B | $6.3B | ||
| Q3 25 | $17.2B | $6.3B | ||
| Q2 25 | $17.6B | $6.3B | ||
| Q1 25 | $18.0B | $6.2B | ||
| Q4 24 | $18.5B | $6.1B | ||
| Q3 24 | $19.0B | $6.2B | ||
| Q2 24 | $19.8B | $7.0B |
| Q1 26 | — | $10.4B | ||
| Q4 25 | $10.0B | $10.2B | ||
| Q3 25 | $10.1B | $10.3B | ||
| Q2 25 | $9.2B | $13.4B | ||
| Q1 25 | $8.0B | $13.1B | ||
| Q4 24 | $7.6B | $13.1B | ||
| Q3 24 | $7.0B | $13.3B | ||
| Q2 24 | $6.0B | $13.2B |
| Q1 26 | — | $22.7B | ||
| Q4 25 | $41.6B | $22.7B | ||
| Q3 25 | $40.1B | $22.9B | ||
| Q2 25 | $38.5B | $26.8B | ||
| Q1 25 | $37.5B | $25.9B | ||
| Q4 24 | $37.1B | $26.1B | ||
| Q3 24 | $37.1B | $26.6B | ||
| Q2 24 | $37.0B | $27.4B |
| Q1 26 | — | 0.37× | ||
| Q4 25 | 1.81× | 0.61× | ||
| Q3 25 | 1.70× | 0.61× | ||
| Q2 25 | 1.92× | 0.47× | ||
| Q1 25 | 2.26× | 0.47× | ||
| Q4 24 | 2.44× | 0.47× | ||
| Q3 24 | 2.69× | 0.47× | ||
| Q2 24 | 3.29× | 0.53× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.6B | — |
| Free Cash FlowOCF − Capex | $116.0M | $1.1B |
| FCF MarginFCF / Revenue | 2.7% | 36.5% |
| Capex IntensityCapex / Revenue | 35.4% | — |
| Cash ConversionOCF / Net Profit | 2.16× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $540.7M | ||
| Q3 25 | $1.5B | $616.1M | ||
| Q2 25 | $1.7B | $718.3M | ||
| Q1 25 | $1.6B | $-90.7M | ||
| Q4 24 | $1.5B | $494.5M | ||
| Q3 24 | $897.0M | $521.2M | ||
| Q2 24 | $1.6B | $869.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $116.0M | $357.8M | ||
| Q3 25 | $-989.0M | $483.0M | ||
| Q2 25 | $910.0M | $555.0M | ||
| Q1 25 | $1.2B | $-328.0M | ||
| Q4 24 | $915.0M | $383.4M | ||
| Q3 24 | $563.0M | $350.4M | ||
| Q2 24 | $-567.0M | $691.7M |
| Q1 26 | — | 36.5% | ||
| Q4 25 | 2.7% | 11.4% | ||
| Q3 25 | -19.2% | 13.9% | ||
| Q2 25 | 20.1% | 14.8% | ||
| Q1 25 | 30.0% | -12.2% | ||
| Q4 24 | 24.3% | 11.8% | ||
| Q3 24 | 11.5% | 9.7% | ||
| Q2 24 | -13.8% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | 35.4% | 5.9% | ||
| Q3 25 | 47.8% | 3.8% | ||
| Q2 25 | 18.4% | 4.4% | ||
| Q1 25 | 10.7% | 8.8% | ||
| Q4 24 | 14.7% | 3.4% | ||
| Q3 24 | 6.8% | 4.7% | ||
| Q2 24 | 52.1% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.16× | 2.27× | ||
| Q3 25 | 0.93× | — | ||
| Q2 25 | 1.44× | 1.68× | ||
| Q1 25 | 2.23× | -0.75× | ||
| Q4 24 | 2.66× | 1.72× | ||
| Q3 24 | 0.81× | 2.61× | ||
| Q2 24 | 1.84× | 2.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
TAP
Segment breakdown not available.
