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NYSE · WATER TRANSPORTATION · LARGE CAP

Royal Caribbean Cruises Ltd. RCL

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$17.9B
▲ 8.8% YoY
$4.3B
▲ 48.3% YoY
$1.2B
▼ 38.1% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Royal Caribbean Cruises Ltd. owns and operates three global cruise vacation brands: Royal Caribbean, Celebrity Cruises and Silversea. Together, its Global Brands and Partner Brands have a combined fleet of 69 ships in the cruise vacation industry with an aggregate capacity of approximately 179,720 berths as of December 31, 2025. Royal Caribbean operates 29 ships with an aggregate capacity of approximately 111,000 berths. Celebrity Cruises operates 15 ships with an aggregate capacity of approximately 38,900 berths. Silversea operates 12 ships, with an aggregate capacity of approximately 5,500 berths. Royal Caribbean Cruises Ltd. was incorporated on July 23, 1985 in the Republic of Liberia under the Business Corporation Act of Liberia.

Written from the business description in ROYAL CARIBBEAN CRUISES LTD's annual report to the U.S. Securities and Exchange Commission, filed 11 February 2026. Every sentence was checked against that document before publication.

Growth

USD 17.9B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 17.9 · Net income 4.3
10.0B20.0B-2.5B-5.0B
2008201120142017202020232025
Compound annual growth
+26.6%
+52.0%
+8.0%
+6.7%
+20.4%
+15.1%
+17.9%
+13.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +52.0% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

24 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 27.4% · Net 23.9%
-100%-200%-300%
200820162025
ROE
FY2025 · ROE 48.5%
20%40%-20%-40%-60%
200820162025
Three returns, three denominators.

Each USD of equity produced 48 cents of profit this year.

Cash & shareholders

USD 2.0B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.2
1B2B-2B-4B
200820162025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.8 · Net buybacks 1.2
1B2B-1B-2BDividendsNet buybacks
200820122014201620182020202220242025

USD 824.0M in dividends and USD 1.2B in buybacks — 46% of the year's profit went back to shareholders.

Total assetsUSD 41.6B
EquityUSD 10.0B
CashUSD 825.0M
Gross debtUSD 21.3B
Net debtUSD 20.5B
Current ratio0.18×

Net debt stands at 204% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
RCL, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B17.916.513.98.81.52.211.09.58.88.58.38.18.07.77.56.85.96.5
Operating income $B4.94.12.9−0.8−3.9−4.62.11.91.71.50.90.90.80.40.90.80.50.8
EBITDA $B◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Income tax $B0.10.00.00.0−0.0◌◌◌◌◌◌◌◌0.10.00.00.0◌
Net income $B4.32.91.7−2.2−5.3−5.81.91.81.61.30.70.80.50.00.60.50.20.6
Free cash flow $B1.22.00.6−2.2−4.1−5.70.7−0.22.30.00.3−0.10.60.10.3−0.5−1.6−1.2
EPS, diluted $15.6110.946.31−8.45−20.89−27.058.958.567.535.933.023.432.140.082.772.370.712.68
Dividend / sh $3.500.950.000.00◌0.782.962.602.161.71◌◌◌0.12◌◌◌◌
Payout %1940−0−0−6322927274226306444——22
ROE %48.546.844.7−54.2−76.0−55.416.116.616.414.98.18.95.50.27.46.72.18.4

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

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Provenance

Company facts, as filed

How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. Two checks were skipped: the share count is not tagged before 2009. One check was skipped: revenue is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityWater Transportation
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2008

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