RCL drawdown: 19.8% below the all-time high
Royal Caribbean Cruises Ltd. (RCL) is 19.8% below its all-time high, set Aug 28, 2025 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1993).
- Below all-time high
- −19.8%
- 80.2% of ATH
- All-time high
- $365.8
- Aug 28, 2025
- Time below the high
- 11 mo
- since Aug 28, 2025
- Worst-ever drawdown
- −90.3%
- Mar 2, 2009
- Longest underwater
- 14.4 yrs
- between all-time highs
- Today's level first reached
- Jun 26, 2025
- 13 mo ago
- Last time this deep
- Apr 30, 2025
- in a previous episode
% of all-time high since 1993#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of RCL, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Nov 16, 1999 | Mar 2, 2009 | −90.3% | 9.3 yrs | Apr 2, 2014 | 14.4 yrs |
| Jan 17, 2020 | Mar 18, 2020 | −83.5% | 2 mo | Mar 20, 2024 | 4.2 yrs |
| Jul 20, 1998 | Oct 8, 1998 | −58.8% | 3 mo | Jun 10, 1999 | 11 mo |
| Dec 30, 2015 | Sep 19, 2016 | −36.3% | 9 mo | Apr 28, 2017 | 16 mo |
| Jan 30, 2025 | Apr 4, 2025 | −35.2% | 2 mo | Jun 6, 2025 | 4 mo |
| Jan 26, 2018 | Dec 24, 2018 | −33.7% | 11 mo | Jan 17, 2020 | 2.0 yrs |
| Aug 28, 2025 | Nov 17, 2025 | −32.6% | 3 mo | not yet | 11 mo+ |
| Oct 27, 1994 | Dec 26, 1995 | −30.0% | 14 mo | Mar 5, 1997 | 2.4 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1993: how far RCL stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: RCL is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is RCL from its all-time high?
- RCL is currently 19.8% below its all-time high, set Aug 28, 2025 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest RCL drawdown ever?
- The deepest decline on record in our data (since 1993) took the stock 90.3% below its prior high, bottoming Mar 2, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1993 (split-adjusted). "All-time" means since our price data begins — RCL may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.