NYSE Shariah screener · October 2026
Is Royal Caribbean Group (RCL) Halal?
Royal Caribbean Group · NYSE: RCL · Consumer Discretionary
The short answer
No — Royal Caribbean Group (RCL) does not pass this Shariah stock screen. The cruise operator (Royal Caribbean International, Celebrity, Silversea) runs Casino Royale onboard casinos on every ship — gambling is a prohibited business line, so the business gate fails. Interest-bearing debt of $22,836M at June 30, 2026 is about 32.7% of the ~$69.77B market cap ($269.99/share, Oct 2, 2026) — a marginal pass under the ~33% ceiling — and interest income of $10M is about 0.11% of H1 2026 revenue ($9,284M), passing the income gate. Zoya covers RCL and rates it not Shariah-compliant (Sept 2026); no Musaffa or ShariaPortfolio coverage found.
Gate 1 — Business activity: FAIL
Royal Caribbean Group (NYSE: RCL) is a Miami-based cruise operator whose brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises (plus an interest in TUI Cruises). Per the company's own casino guide, every Royal Caribbean ship features Casino Royale, the cruise line's onboard casino, offering slot machines and table games (blackjack, roulette, craps, baccarat, poker) — gambling is a prohibited business line under this screen. Alcohol is also served throughout the fleet. Casino revenue share is not separately disclosed in the filings (disclosed on page as such). Gate 1 fails. Facts only.
Gate 2 — Debt and cash: PASS
At June 30, 2026 the company reported $1,573M of current long-term debt plus $21,263M of long-term debt — total interest-bearing debt of $22,836M (Q2 2026 10-Q balance sheet). Against a market cap of about $69.77B ($269.99/share, October 2, 2026 quote), debt ÷ market cap is about 32.73% — under the ~33% ceiling, but only marginally. Cash and cash equivalents of $875M are about 1.3% of market cap, within the ~33% guideline. Gate 2 passes, barely. Facts only.
Gate 3 — Non-compliant income: PASS
Interest income is reported as a separate line on the income statement: $10M for the six months ended June 30, 2026 (Q2 2026 10-Q), against total revenues of $9,284M — about 0.11% of revenue, far below the 5% non-compliant income ceiling. H1 2025 comparative: $15M ÷ $8,537M ≈ 0.18%. Gate 3 passes. Facts only.
Key figures used
- Business: cruise operator — Royal Caribbean International, Celebrity Cruises, Silversea (plus TUI Cruises interest); Miami, FL; ~106,000 employees
- Business gate FAILS: Casino Royale onboard casinos on every ship (slots, blackjack, roulette, craps, poker) — gambling is a prohibited line; casino revenue share not separately disclosed
- Interest-bearing debt: $22,836M at Jun 30, 2026 ($1,573M current + $21,263M long-term, Q2 2026 10-Q) — ≈32.7% of ~$69.77B market cap ($269.99/share, Oct 2, 2026), a marginal pass under the ~33% ceiling
- Interest income: $10M (H1 2026, separate income-statement line) vs total revenues $9,284M — ≈0.11% of revenue, well under the 5% non-compliant income ceiling
- Cash $875M at Jun 30, 2026 ≈ 1.3% of market cap; FY2025: net income $4,291M on revenue $17,935M
- Zoya covers RCL and rates it not Shariah-compliant (Sept 2026); no Musaffa or ShariaPortfolio coverage found — reported as absent, not invented
Frequently asked questions
What does Royal Caribbean Group do?
Royal Caribbean Group (NYSE: RCL), headquartered in Miami, Florida, is one of the world's largest cruise companies, operating Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, plus an interest in TUI Cruises. It carries passengers on itineraries worldwide, earning ticket revenue and onboard revenue (beverages, dining, shore excursions, retail, and gaming). Every ship in its fleet features Casino Royale, the company's onboard casino brand, and alcohol is served throughout the fleet.
Why does Royal Caribbean Group fail this Shariah stock screen?
Royal Caribbean Group fails this screen on the business gate: every ship in its fleet features Casino Royale, an onboard casino with slot machines and table games such as blackjack, roulette, craps, and poker — and gambling is a prohibited business line under this screen. The debt gate is a marginal pass (about 32.7% of market cap, just under the ~33% ceiling) and the income gate passes (interest income about 0.11% of revenue). This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is Royal Caribbean Group's interest-bearing debt ratio?
At June 30, 2026 Royal Caribbean reported $1,573M of current long-term debt plus $21,263M of long-term debt, for total interest-bearing debt of $22,836M (Q2 2026 10-Q balance sheet). Against a market capitalization of about $69.77B ($269.99 per share, October 2, 2026 quote), debt divided by market cap is about 32.7% — under the ~33% ceiling, but only marginally. Cash and cash equivalents of $875M are about 1.3% of market cap, within the ~33% guideline. The debt gate passes, barely.
What is Royal Caribbean Group's non-compliant income ratio?
Royal Caribbean reports interest income as a separate line on its income statement: $10M for the six months ended June 30, 2026 (Q2 2026 10-Q), against total revenues of $9,284M for the same period — about 0.11% of revenue, well under the 5% non-compliant income ceiling. The income gate passes. (Zoya's September 2026 page cites the FY2025 annual figures — $24M of interest income against $17,935M of revenue, about 0.13% — consistent with the same conclusion.)
Do Zoya, Musaffa, or ShariaPortfolio cover Royal Caribbean Group?
Zoya covers Royal Caribbean (RCL) and, as of September 2026, rates it not Shariah-compliant, citing the same financial figures. No coverage page for RCL was found on Musaffa or ShariaPortfolio — honestly reported as absent, not invented. This page applies the screen directly from the company's filings: the Q2 2026 10-Q (filed July 2026) and the FY2025 results press release (January 2026).
Sources
- Royal Caribbean Cruises Ltd. — Q2 2026 10-Q (filed July 2026): interest income $10M and total revenues $9,284M (H1 2026); debt $1,573M current + $21,263M long-term at Jun 30, 2026; cash $875M
- Royal Caribbean Group — FY2025 results press release (Jan 2026): revenue $17,935M, net income $4,291M, cash $825M at Dec 31, 2025; debt $3,180M current + $18,165M long-term
- Finnhub — RCL quote ($269.99, market cap ~$69.77B, NYSE, Oct 2, 2026)
- Royal Caribbean — Casino Royale guide: every ship features Casino Royale, the onboard casino (slots, table games, tournaments)
- Zoya — RCL Shariah compliance page: not Shariah-compliant (Sept 2026); FY2025 revenue $17,935M, interest income $24M (0.13%)
Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).