Royal Caribbean Cruises LTD (RCL) Financial Statements
Industry: Water Transportation
In fiscal 2025, Royal Caribbean Cruises reported revenue of $17.93B, up 8.8% from $16.48B the year before. Net income was $4.27B (a 23.8% net margin), or $15.61 per diluted share. Gross margin was 49.4% and operating margin was 27.4%. Operating activities generated $6.46B of cash, leaving $1.24B of free cash flow. At fiscal year end, Royal Caribbean Cruises held $41.62B in total assets against $31.37B in total liabilities, including $825.0M of cash and equivalents.
Open the full interactive Royal Caribbean Cruises financials → Quarterly statements, key ratios, valuation history and price charts.
Royal Caribbean Cruises Key Stats
| Share Price | $281.51 |
|---|---|
| Market Cap | $75.44B |
| P/E Ratio | 18.0 |
| Dividend Yield | 1.52% |
| Revenue YoY Growth | +8.8% |
| 52-Week Range | $230.30 – $342.37 |
| Shares Outstanding | 268.0 million (basic, 2026 Q2) |
Royal Caribbean Cruises Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.21B | $1.53B | $8.84B | $13.90B | $16.48B | $17.93B |
| Cost of Goods Sold | $2.77B | $2.66B | $6.61B | $7.78B | $8.65B | $9.08B |
| Gross Profit | -$556.3M | -$1.13B | $2.23B | $6.12B | $7.83B | $8.85B |
| Operating Income | -$4.60B | -$3.87B | -$764.0M | $2.88B | $4.11B | $4.91B |
| Pre-Tax Income | -$5.80B | -$5.26B | -$2.16B | $1.70B | $2.92B | $3.96B |
| Income Tax | — | — | — | $6.0M | $46.0M | $82.0M |
| Net Income | -$5.80B | -$5.26B | -$2.16B | $1.70B | $2.88B | $4.27B |
| Diluted EPS | -$27.05 | -$20.89 | -$8.45 | $6.31 | $10.94 | $15.61 |
Royal Caribbean Cruises Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $5.14B | $4.26B | $4.45B | $4.83B |
| Net Income | $1.57B | $753.0M | $941.0M | $1.13B |
| Diluted EPS | $5.74 | $2.75 | $3.48 | $4.20 |
Royal Caribbean Cruises Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.68B | $2.70B | $1.94B | $497.0M | $388.0M | $825.0M |
| Current Assets | $4.31B | $3.60B | $3.21B | $1.79B | $1.71B | $2.21B |
| Total Assets | $32.47B | $32.26B | $33.78B | $35.13B | $37.07B | $41.62B |
| Current Liabilities | $4.54B | $7.29B | $8.57B | $9.40B | $9.82B | $12.05B |
| Total Long-Term Debt | $18.92B | $21.09B | $23.39B | $21.45B | $20.08B | $21.34B |
| Total Liabilities | $23.70B | $27.17B | $30.91B | $30.23B | $29.34B | $31.37B |
| Shareholders' Equity | $8.76B | $5.09B | $2.87B | $4.72B | $7.56B | $10.04B |
Royal Caribbean Cruises Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$3.73B | -$1.88B | $481.9M | $4.48B | $5.26B | $6.46B |
| Cash From Investing | -$2.18B | -$2.14B | -$2.99B | -$3.92B | -$3.45B | -$5.01B |
| Cash From Financing | $9.35B | $3.04B | $1.74B | -$1.99B | -$1.92B | -$1.02B |
| Free Cash Flow | -$5.70B | -$4.11B | -$2.23B | $580.0M | $2.00B | $1.24B |
| Dividends Paid | $326.4M | $0 | $0 | — | $107.0M | $824.0M |
Figures from Royal Caribbean Cruises' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Royal Caribbean Cruises financials page for every line item.
Royal Caribbean Cruises Company Profile
| Ticker | RCL |
|---|---|
| Exchange | NYSE |
| Industry | Water Transportation |
| Headquarters | Miami, Florida |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000884887 |
Frequently Asked Questions
What was Royal Caribbean Cruises' revenue in fiscal 2025?
Royal Caribbean Cruises (RCL) reported revenue of $17.93B for fiscal 2025.
What is Royal Caribbean Cruises' annual revenue history?
Royal Caribbean Cruises' annual revenue by fiscal year: 2020: $2.21B; 2021: $1.53B; 2022: $8.84B; 2023: $13.90B; 2024: $16.48B; 2025: $17.93B.
What was Royal Caribbean Cruises' net income in fiscal 2025?
Royal Caribbean Cruises reported net income of $4.27B for fiscal 2025.
What was Royal Caribbean Cruises' earnings per share (EPS) in fiscal 2025?
Royal Caribbean Cruises' diluted EPS was $15.61 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Royal Caribbean Cruises generate in fiscal 2025?
Royal Caribbean Cruises generated $1.24B of free cash flow in fiscal 2025.
What was Royal Caribbean Cruises' revenue last quarter?
In its most recent reported quarter (2026 Q2), Royal Caribbean Cruises reported revenue of $4.83B.
How much debt does Royal Caribbean Cruises have?
Royal Caribbean Cruises reported $21.34B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Royal Caribbean Cruises are outstanding?
Royal Caribbean Cruises reported a weighted average of 268.0 million basic shares outstanding in 2026 Q2.
What is Royal Caribbean Cruises' market cap?
Based on its latest closing price, Royal Caribbean Cruises (RCL) has a market capitalization of about $75.44B.
When does Royal Caribbean Cruises' fiscal year end?
Royal Caribbean Cruises' fiscal year end, as registered with the SEC, is December 31.
Where is Royal Caribbean Cruises headquartered?
Royal Caribbean Cruises lists its business address in Miami, Florida in its SEC filings.