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.
At a glance
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% | 23.8% |
| Return on equity | — | 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 (23.8% 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.
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Revenue by year
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 |
Net income by year
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 |
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The companies