BIP vs RCL
Brookfield Infrastructure Partners L.p. and Royal Caribbean Cruises Ltd., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BIP | RCL |
|---|---|---|
| Revenue | $23.1B | $17.9B |
| Net income | $2.5B | $4.3B |
| Gross margin | 26.9% | 49.4% |
| Net margin | 11.0% | 23.9% |
| Return on equity | 7.7% | 48.5% |
| Diluted EPS | $0.90 | $15.61 |
| Dividend / share | · | $3.50 |
| Payout ratio | · | 19.3% |
| Free cash flow | $-53.0M | $1.2B |
| Equity | · | $10.0B |
| Net debt / equity | · | 2.04× |
| Current ratio | 0.78× | 0.18× |
| Revenue CAGR 5y | 21.1% | 52.0% |
| Profit CAGR 5y | 22.9% | · |
BIP bills 1.3× the revenue of RCL, and RCL keeps more of each dollar of revenue as profit (23.9% against 11.0%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | BIP | RCL |
|---|---|---|
| FY2025 | $23.1B | $17.9B |
| FY2024 | $21.0B | $16.5B |
| FY2023 | $17.9B | $13.9B |
| FY2022 | $14.4B | $8.8B |
| FY2021 | $11.5B | $1.5B |
| FY2020 | $8.9B | $2.2B |
| FY2019 | $6.6B | $11.0B |
| FY2018 | $4.7B | $9.5B |
| FY2017 | $3.5B | $8.8B |
| FY2016 | $2.1B | $8.5B |
Bottom line
| Fiscal year | BIP | RCL |
|---|---|---|
| FY2025 | $2.5B | $4.3B |
| FY2024 | $1.7B | $2.9B |
| FY2023 | $1.4B | $1.7B |
| FY2022 | $1.4B | $-2.2B |
| FY2021 | $2.7B | $-5.3B |
| FY2020 | $904.0M | $-5.8B |
| FY2019 | $650.0M | $1.9B |
| FY2018 | $806.0M | $1.8B |
| FY2017 | $574.0M | $1.6B |
| FY2016 | $528.0M | $1.3B |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$5,165,000,000 | BIP |
| FY2024 | +$4,555,000,000 | BIP |
| FY2023 | +$4,031,000,000 | BIP |
| FY2022 | +$5,587,000,000 | BIP |
| FY2021 | +$10,005,000,000 | BIP |
| FY2020 | +$6,676,195,000 | BIP |
| FY2019 | −$4,353,661,000 | RCL |
| FY2018 | −$4,841,849,000 | RCL |
| FY2017 | −$5,242,845,000 | RCL |
| FY2016 | −$6,381,401,000 | RCL |
| FY2015 | −$6,444,074,000 | RCL |
The higher-revenue side has changed between BIP and RCL over this period. The gap has narrowed since the earliest year compared.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −13.0 pp | RCL |
| FY2024 | −9.6 pp | RCL |
| FY2023 | −4.2 pp | RCL |
| FY2022 | +33.9 pp | BIP |
| FY2021 | +366.9 pp | BIP |
| FY2020 | +271.6 pp | BIP |
| FY2019 | −7.6 pp | RCL |
| FY2018 | −1.8 pp | RCL |
| FY2017 | −2.3 pp | RCL |
| FY2016 | +9.9 pp | BIP |
| FY2015 | +13.1 pp | BIP |
The higher net margin has changed hands between BIP and RCL over this period.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
RCL's net margin has been more volatile than BIP's over the 11 comparable fiscal years — 123.1 percentage points of standard deviation against 6.1.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BIP and RCL over these 11 fiscal years — BIP led in 5 and RCL in 6.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
RCL's return on equity has been more volatile than BIP's over the 11 comparable fiscal years — 41.9 percentage points of standard deviation against 2.0.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BIP and RCL over these 11 fiscal years — BIP led in 3 and RCL in 8.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.