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STOCK COMPARISON

Booking Holdings vs Royal Caribbean Cruises: Fair Value & Quality

Both stocks run through our valuation models. Here is how Booking Holdings (BKNG) and Royal Caribbean Cruises (RCL) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Royal Caribbean Cruises as the less overvalued of the two: Booking Holdings trades at $195 versus a fair value of $153 (-22%), while Royal Caribbean Cruises trades at $266 versus $215 (-19%).
Booking Holdings
BKNG · USD · Consumer Discretionary
-22%
upside to fair value
overvalued
Price$195
Fair Value$153
Quality88/100
Royal Caribbean Cruises
RCL · USD · Consumer Discretionary
-19%
upside to fair value
overvalued
Price$266
Fair Value$215
Quality52/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Booking HoldingsRoyal Caribbean Cruises
Valuation
24.1×P/E (TTM)15.8×
5.12×P/S (TTM)4.29×
—P/B7.85×
13.6×EV/EBITDA13.9×
0.75×PEG1.41×
−21.6%Fair value upside−19.0%
0.8%Dividend yield1.6%
$1.58Dividend per share$4.25
Profitability
25%Operating margin26%
226%Return on equity50%
22%Return on assets8%
Growth
16%Revenue growth (YoY)11%
16.3%Avg. growth/yr (3Y)26.6%
31.7%Avg. growth/yr (5Y)52.0%
+44.2%Value creation/yr+10.7%
Balance & size
5.7×Interest coverage (EBIT/interest)4.9×
—Debt / equity1.81×
$142BMarket cap$79B
healthyGrowth qualityexpensive

Royal Caribbean Cruises leads: 6 to 7 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Booking Holdingsof which business quality 84 · market factors 47 Royal Caribbean Cruisesof which business quality 49 · market factors 24
ProfitabilityMargins and returns on capital today
87
65
Quality GrowthAre margins and returns improving?
43
55
CashflowEarnings quality: real cash, not paper profit
96
52
Fin. StrengthBalance sheet, leverage, solvency risk
83
23
InvestmentDisciplined investing over empire-building
92
21
Low VolatilityCalm price path (market factor)
54
17
MomentumPrice trend over the last 3–12 months (market factor)
48
32
52W MomentumDistance to the 52-week high (market factor)
38
17
Net IssuanceBuybacks instead of dilution
100
80

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBooking HoldingsPrice $195Royal Caribbean CruisesPrice $266
DCF Models+30%above the price$253-47%below the price$141
Earnings-Based-33%below the price$132-7%close to the price$247
Dividend Discount-85%below the price$28.34n/a
Multiples-21%below the price$153-28%below the price$191
Asset-Basedn/a-91%below the price$25.07
Growth DCF+19%above the price$231-80%below the price$53.43
Economic Profit-42%below the price$113-25%below the price$198
Growth Earnings-4%close to the price$187+42%above the price$376
Minimum-85%below the price$28.34-91%below the price$25.07
Maximum+30%above the price$253+42%above the price$376
Median-21%below the price$153-28%below the price$191
Geometric mean-32%below the price$132-51%below the price$131

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Booking Holdings: 14 of 23 models see the stock below the current price.

Royal Caribbean Cruises: 18 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Booking Holdings
Bear $114Fair Value $153Bull $192
$195 = current price (white tick)
Royal Caribbean Cruises
Bear $141Fair Value $215Bull $402
$266 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Booking Holdings · Consumer Discretionary

Quality score88 · Top 25%
Fair value upside-22% · below median

Royal Caribbean Cruises · Consumer Discretionary

Quality score52 · below median
Fair value upside-19% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Royal Caribbean Cruises as the less overvalued of the two: Booking Holdings trades at $195 versus a fair value of $153 (-22%), while Royal Caribbean Cruises trades at $266 versus $215 (-19%).

Booking Holdings has the higher quality score (88/100).

See the full analysis →
Booking Holdings · Royal Caribbean Cruises

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.