{"slug":"royal-caribbean-group","name":"로열 캐리비안 그룹","name_en":"Royal Caribbean Cruises Ltd.","ticker":"RCL","updated_at":"2026-09-11T19:22:03.987526+00:00","canonical":"https://valuechain.wiki/royal-caribbean-group","citable":"밸류체인 그래프 기준 로열 캐리비안 그룹의 직접 연결 기업은 2곳(관계 기준 공급 2·매출 0)이고, 사슬을 2차까지 넓히면 10곳에 닿는다. 링크의 근거 출처는 4건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"Per the valuechain.wiki graph, Royal Caribbean Cruises Ltd. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 10 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-09-11).","kicker":"글로벌 크루즈 운영사","kicker_en":"Global cruise operator","lead":"로열 캐리비안 그룹은 크루즈 티켓과 선상 상품·서비스를 판매해 매출을 올린다. 선박 건조, 위성 통신, 식음료와 항만 이용에 비용을 쓰고, 지분 투자로 독일 크루즈 시장에도 참여한다.","lead_en":"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.","categories":[{"key":"cruise-lines","ko":"크루즈 운항","en":"Cruise Lines","theme":"consumer-commerce","theme_ko":"소비 브랜드·유통","theme_en":"Consumer Brands & Commerce","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"여객 티켓","note":"FY2025 매출 125억1,500만달러"},{"name":"선상·기타","note":"FY2025 매출 54억1,900만달러"}],"total":"FY2025 총매출 179억3,500만달러 (SEC 10-K XBRL, 2026-02-11)","track":"C"},"segments_en":{"parts":[{"name":"Passenger tickets","note":"FY2025 revenue of US$12.515 billion"},{"name":"Onboard and other","note":"FY2025 revenue of US$5.419 billion"}],"total":"FY2025 total revenue: US$17.935 billion (SEC Form 10-K XBRL, filed 2026-02-11)"},"returns_yearly":{"2021":3,"2022":-35.7,"2023":162,"2024":79,"2025":22.5,"2026":2.9},"return_asof":"2026-10-09","value_chain":{"leading":[],"benefiting":[{"slug":"coca-cola","name":"Coca-Cola","name_en":"The Coca-Cola Company","tier":1,"returns_yearly":{"2021":11.4,"2022":10.6,"2023":-4.4,"2024":8.9,"2025":15.6,"2026":27.7}},{"slug":"spacex","name":"스페이스X","name_en":"SpaceX","tier":1,"returns_yearly":{"2026":0.7}},{"slug":"stmicroelectronics","name":"ST마이크로일렉트로닉스","name_en":"STMicroelectronics","tier":2,"returns_yearly":{"2021":32.4,"2022":-26.8,"2023":41.7,"2024":-49.7,"2025":5.3,"2026":102.2}},{"slug":"smurfit-westrock","name":"스머핏 웨스트록","name_en":"Smurfit Westrock plc","tier":2,"returns_yearly":{"2021":17.3,"2022":-28,"2023":14.1,"2024":37.6,"2025":-26.2,"2026":22}},{"slug":"live-nation-entertainment","name":"라이브 네이션 엔터테인먼트","name_en":"Live Nation Entertainment, Inc.","tier":2,"returns_yearly":{"2021":62.9,"2022":-41.7,"2023":34.2,"2024":38.4,"2025":10,"2026":21.8}},{"slug":"coca-cola-europacific-partners","name":"코카콜라 유로퍼시픽 파트너스","name_en":"Coca-Cola Europacific Partners","tier":2,"returns_yearly":{"2021":15.6,"2022":2.3,"2023":24.5,"2024":18.4,"2025":21.2,"2026":16.2}},{"slug":"monster-beverage","name":"몬스터 베버리지","name_en":"Monster Beverage Corporation","tier":2,"returns_yearly":{"2021":3.8,"2022":5.7,"2023":13.5,"2024":-8.8,"2025":45.9,"2026":13.8}},{"slug":"ecolab","name":"에코랩","name_en":"Ecolab Inc.","tier":2,"returns_yearly":{"2021":9.4,"2022":-37.1,"2023":37.9,"2024":19.3,"2025":13.2,"2026":7}},{"slug":"echostar","name":"에코스타","name_en":"EchoStar Corporation","tier":2,"returns_yearly":{"2021":24.4,"2022":-36.7,"2023":-0.7,"2024":38.2,"2025":374.7,"2026":-17.4}},{"slug":"adobe","name":"어도비","name_en":"Adobe Inc.","tier":2,"returns_yearly":{"2021":13.4,"2022":-40.7,"2023":77.3,"2024":-25.5,"2025":-21.3,"2026":-23.9}},{"slug":"cohu","name":"코후","name_en":"Cohu","tier":3,"returns_yearly":{"2021":-0.2,"2022":-15.9,"2023":10.4,"2024":-24.6,"2025":-12.8,"2026":118}},{"slug":"wolfspeed","name":"울프스피드","name_en":"Wolfspeed","tier":3,"returns_yearly":{"2026":62.8}},{"slug":"dow","name":"다우","name_en":"Dow Inc.","tier":3,"returns_yearly":{"2021":6.8,"2022":-6.6,"2023":14.7,"2024":-22.8,"2025":-37.4,"2026":25.7}},{"slug":"ford-motor-company","name":"포드","name_en":"Ford Motor Company","tier":3,"returns_yearly":{"2021":137.5,"2022":-42.2,"2023":15.8,"2024":-13.1,"2025":42.3,"2026":15.3}},{"slug":"cadence","name":"Cadence Design Systems","name_en":"Cadence Design Systems","tier":3,"returns_yearly":{"2021":36.6,"2022":-13.8,"2023":69.6,"2024":10.3,"2025":4,"2026":12.9}},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":3,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":12}},{"slug":"ball","name":"볼","name_en":"Ball Corporation","tier":3,"returns_yearly":{"2021":4.1,"2022":-46.2,"2023":14.1,"2024":-3,"2025":-2.4,"2026":11.5}},{"slug":"automatic-data-processing","name":"오토매틱 데이터 프로세싱","name_en":"Automatic Data Processing, Inc.","tier":3,"returns_yearly":{"2021":42.6,"2022":-1.3,"2023":-0.2,"2024":28.4,"2025":-10.2,"2026":9.6}},{"slug":"synopsys","name":"Synopsys","name_en":"Synopsys","tier":3,"returns_yearly":{"2021":42.1,"2022":-13.4,"2023":61.3,"2024":-5.7,"2025":-3.2,"2026":8.6}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":3,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":4}},{"slug":"dover","name":"도버","name_en":"Dover Corporation","tier":3,"returns_yearly":{"2021":45.7,"2022":-24.3,"2023":15.2,"2024":23.3,"2025":5.2,"2026":-0.5}},{"slug":"at-t","name":"AT&T","name_en":"AT&T Inc.","tier":3,"returns_yearly":{"2021":-5.9,"2022":6.5,"2023":-2.7,"2024":44.1,"2025":14,"2026":-6.4}},{"slug":"t-mobile-us","name":"T-모바일","name_en":"T-Mobile US, Inc.","tier":3,"returns_yearly":{"2021":-14,"2022":20.7,"2023":15,"2024":39.7,"2025":-6.6,"2026":-25.6}},{"slug":"jyp-entertainment","name":"JYP Ent.","name_en":"JYP Entertainment","tier":3,"returns_yearly":{"2021":27.1,"2022":77.8,"2023":4.5,"2024":0.4,"2025":-1.6,"2026":-45.7}}],"analysis":"글로벌 크루즈 운영사 기업. 2026년 -3.9%다. 본주(-3.9%)와 공급단(평균 +14.2%)이 같은 보폭으로 움직인다. 연결 노드 중 가장 앞선 곳은 코카콜라(+27.7%), 가장 처진 곳은 스페이스X(+0.7%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"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_asof":"2026-09-04"},"edges":[{"direction":"revenue","counterparty":"크루즈 티켓 구매 고객","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-11","basis":"크루즈 티켓 구매 고객에게서 인식한 여객 티켓 매출","value":12515000000,"period":"FY2025","basis_en":"Passenger ticket revenue recognized from cruise ticket customers","qualifier":null},"note":"크루즈 승객은 운임과 선박을 오가는 항공 운송 대가를 지급하는 핵심 고객군이다. 회사는 승객과 맺은 크루즈 계약의 수행 기간에 티켓 매출을 인식한다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/884887/000088488726000007/rcl-20251231.htm","title":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","title_en":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","excerpt":"2025년 여객 티켓 매출은 125억1,500만달러였다.","excerpt_en":"Passenger ticket revenues | $12,515"},{"stance":"confirms","publisher":"한국투자증권","publisher_en":"Korea Investment & Securities","kind":"research","lang":"ko","published_at":"2025-07-30","url":"https://m.koreainvestment.com/main/research/research/StrategyDetail.jsp?id=146171&jkGubun=6","title":"로얄 캐리비안 크루즈(RCL US): FY2Q25 Review: 각박한 시장에서 순항 중","title_en":"Royal Caribbean Cruises (RCL US): FY2Q25 Review: Sailing Through a Tough Market","excerpt":"수요는 2분기에도 견조했고 객실 가동률과 평균 티켓 가격이 전년보다 높아졌다.","excerpt_en":"Demand remained firm, while occupancy and average ticket prices rose year over year."}]},{"direction":"revenue","counterparty":"선상 상품·서비스 구매 고객","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-11","basis":"선상 상품·서비스 구매 고객과 기타 관련 활동에서 인식한 선상·기타 매출","value":5419000000,"period":"FY2025","basis_en":"Onboard and other revenue recognized from onboard customers and related activities","qualifier":null},"note":"승객은 기본 운임에 포함되지 않은 식음료, 카지노, 인터넷, 기항지 관광과 기타 서비스를 구매한다. 이 고객 지출은 선상·기타 매출의 중심을 이룬다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/884887/000088488726000007/rcl-20251231.htm","title":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","title_en":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","excerpt":"2025년 선상·기타 매출은 54억1,900만달러였다.","excerpt_en":"Onboard and other revenues | 5,419"}]},{"direction":"investment","counterparty":"TUI Cruises GmbH","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-11","basis":"TUI Cruises 지분 투자의 순장부가액","value":990000000,"period":"as_of_2025-12-31","basis_en":"Net book value of the investment in TUI Cruises","qualifier":null},"note":"로열 캐리비안 그룹은 TUI Cruises를 TUI AG와 공동 소유하며 지분법으로 회계처리한다. 이 합작사는 독일 시장에서 Mein Schiff와 Hapag-Lloyd Cruises를 운영한다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/884887/000088488726000007/rcl-20251231.htm","title":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","title_en":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","excerpt":"TUI Cruises는 공동 지배하는 지분법 투자이며 순장부가액은 9억9,000만달러였다.","excerpt_en":"50%-owned joint venture"}]},{"direction":"cost","counterparty":"스페이스X","counterparty_slug":"spacex","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-11","basis":"전 선대 Starlink 위성 인터넷 계약 및 서비스 비용","value":null,"period":"relationship_confirmed_FY2025","basis_en":"Contract and service cost for fleetwide Starlink satellite internet","qualifier":"confirmed_no_disclosed_value"},"note":"스페이스X는 로열 캐리비안 그룹 전 선대에 Starlink 위성 인터넷을 공급한다. 계약 금액과 서비스 요금은 공개되지 않았다.","note_en":"SpaceX supplies Starlink satellite internet across Royal Caribbean Group's entire fleet. Contract value and service fees were not disclosed.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/884887/000088488726000007/rcl-20251231.htm","title":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","title_en":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","excerpt":"회사는 스페이스X와 협력해 전 선대에 Starlink를 설치했다고 공시했다.","excerpt_en":"partnership with SpaceX"},{"stance":"confirms","publisher":"로열 캐리비안 그룹","publisher_en":"Royal Caribbean Group","kind":"ir","lang":"en","published_at":"2022-08-30","url":"https://www.prnewswire.com/news-releases/royal-caribbean-group-to-use-spacexs-starlink-in-an-industry-first-to-provide-high-speed-internet-onboard-full-cruise-fleet-301614949.html","title":"로열 캐리비안 그룹, 전 크루즈 선대에 스페이스X Starlink 도입","title_en":"Royal Caribbean Group to Use SpaceX's Starlink Across Full Cruise Fleet","excerpt":"로열 캐리비안 그룹은 전 선대에 Starlink를 도입할 계획이라고 발표했다.","excerpt_en":"Royal Caribbean Group selecting Starlink to provide internet across their fleet."}]},{"direction":"cost","counterparty":"Meyer Turku Oy","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2026-02-11","basis":"Meyer Turku가 건조하는 Icon급 선박 발주액","value":null,"period":"ship_orders_as_of_2025-12-31","basis_en":"Order value of Icon-class ships being built by Meyer Turku","qualifier":"confirmed_no_disclosed_value"},"note":"Meyer Turku는 로열 캐리비안 브랜드의 Icon급 선박을 건조하는 조선소다. 해당 조선소 몫의 계약 금액은 전체 발주 잔액과 분리해 공개되지 않았다.","note_en":"Meyer Turku builds Icon-class ships for the Royal Caribbean brand. The shipyard-specific contract value was not disclosed separately from the overall orderbook.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/884887/000088488726000007/rcl-20251231.htm","title":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","title_en":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","excerpt":"10-K의 선박 발주표는 Icon급 선박 세 척의 조선소로 Meyer Turku를 명시한다.","excerpt_en":"Meyer Turku Oy"}]},{"direction":"cost","counterparty":"Chantiers de l'Atlantique","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2026-02-11","basis":"Chantiers de l'Atlantique가 건조하는 신조선 발주액","value":null,"period":"ship_orders_as_of_2025-12-31","basis_en":"Order value of new ships being built by Chantiers de l'Atlantique","qualifier":"confirmed_no_disclosed_value"},"note":"Chantiers de l'Atlantique는 로열 캐리비안과 Celebrity Cruises의 대형 신조선을 건조한다. 해당 조선소 몫의 계약 금액은 전체 발주 잔액과 분리해 공개되지 않았다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/884887/000088488726000007/rcl-20251231.htm","title":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","title_en":"ROYAL CARIBBEAN CRUISES LTD 10-K (2026-02-11)","excerpt":"10-K는 이 조선소의 Oasis급과 Edge급 발주 및 Discovery급 건조 합의를 명시한다.","excerpt_en":"Chantiers de l'Atlantique"}]},{"direction":"cost","counterparty":"Coca-Cola","counterparty_slug":"coca-cola","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2026-03-02","basis":"Coca-Cola 음료·Freestyle 기기·전용 컵 조달 비용","value":null,"period":"relationship_observed_2026-03-02","basis_en":"Procurement cost for Coca-Cola beverages, Freestyle machines, and dedicated cups","qualifier":"confirmed_no_disclosed_value"},"note":"로열 캐리비안은 선내 음료 패키지와 다수 선박에서 Coca-Cola Freestyle 기기와 전용 컵을 운영한다. Coca-Cola 본사와 지역 보틀러 중 실제 계약 상대가 누구인지와 조달 금액은 공개되지 않았다.","note_en":"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.","sources":[{"stance":"mentions","publisher":"크루즈 크리틱","publisher_en":"Cruise Critic","kind":"news","lang":"en","published_at":"2026-03-02","url":"https://www.cruisecritic.com/news/royal-caribbean-changes-beverage-package-souvenir-cup","title":"로열 캐리비안, 두 음료 패키지에서 Coca-Cola 기념 컵 제외","title_en":"Royal Caribbean Removes Coca-Cola Souvenir Cup From Two Beverage Packages","excerpt":"Coca-Cola Freestyle 기기는 일부 선박을 제외한 로열 캐리비안 선대에서 운영된다.","excerpt_en":"Coca-Cola Freestyle machines are available throughout Royal Caribbean's fleet."}]}]}