Royal Caribbean had a great 2025, and its 2026 bookings are off to a record-setting pace. Shares of leading global cruise company Royal Caribbean Group (RCL +18.65%) are up 16% this week as of 2 p.m. However, what really stole the show was Royal Caribbean's 2026 guidance, where management projected double-digit sales and adjusted EPS growth, with capacity set to rise nearly 7%. Best yet for investors, Royal Caribbean's stock has more than quintupled since the 2020 crash, yet it doesn't appear outrageously priced today. That said, prospective investors need to embrace Royal Caribbean's cyclicality before buying.