ROYAL CARIBBEAN CRUISES LTD (RCL)
Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014Q4-CY2013
Balance Sheet Date2025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-312013-Dec-31
Fiscal PeriodQ3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014Q4-FY2013
Total Revenue5,139,000,000$4,538,000,000$3,999,000,000$3,760,000,000$4,886,000,000$4,110,000,000$3,728,000,000$3,331,000,000$4,160,000,000$3,523,000,000$2,886,000,000$2,603,452,000$2,993,075,000$2,184,242,000$1,059,231,000$982,114,000$456,958,000$50,914,000$42,014,000$34,138,000$(33,688,000$)175,605,000$2,032,750,000$2,517,413,000$3,186,850,000$2,806,631,000$2,439,767,000$2,332,301,000$2,796,187,000$2,337,605,000$2,027,756,000$2,004,467,000$2,569,544,000$2,195,274,000$2,008,560,000$1,909,603,000$2,563,741,000$2,105,262,000$1,917,795,000$1,902,053,000$2,523,100,000$2,058,322,000$1,815,599,000$1,817,826,000$2,388,762,000$1,980,043,000$1,887,224,000$1,854,158,000$
QoQ%13.24%13.48%6.36%(23.05%)18.88%10.25%11.92%(19.93%)18.08%22.07%10.85%(13.02%)37.03%106.21%7.85%114.92%797.51%21.18%23.07%201.34%(119.18%)(91.36%)(19.25%)(21.01%)13.55%15.04%4.61%(16.59%)19.62%15.28%1.16%(21.99%)17.05%9.30%5.18%(25.52%)21.78%9.78%.83%(24.61%)22.58%13.37%(.12%)(23.90%)20.64%4.92%1.78%(19.79%)
YoY%5.18%10.41%7.27%12.88%17.45%16.66%29.18%27.95%38.99%61.29%172.46%165.09%555.00%4,190.06%2,421.14%2,776.89%1,456.44%(71.01%)(97.93%)(98.64%)(101.06%)(93.74%)(16.68%)7.94%13.97%20.06%20.32%16.36%8.82%6.48%.96%4.97%.23%4.28%4.73%.40%1.61%2.28%5.63%4.63%5.62%3.95%(3.80%)(1.96%)3.33%5.17%(1.26%)2.66%
Cost Of Revenue2,479,000,000$2,283,000,000$2,079,000,000$2,052,000,000$2,391,000,000$2,152,000,000$2,056,000,000$1,890,000,000$2,137,000,000$1,955,000,000$1,793,000,000$1,784,690,000$1,966,449,000$1,679,919,000$1,184,942,000$1,216,992,000$813,691,000$424,830,000$283,487,000$265,260,000$308,609,000$680,420,000$1,510,819,000$1,481,519,000$1,623,038,000$1,544,504,000$1,413,704,000$1,360,413,000$1,411,364,000$1,314,411,000$1,176,019,000$1,145,701,000$1,318,269,000$1,256,785,000$1,175,824,000$1,123,251,000$1,340,123,000$1,310,587,000$1,241,578,000$1,173,341,000$1,387,026,000$1,316,409,000$1,222,617,000$1,244,745,000$1,426,882,000$1,330,674,000$1,303,980,000$1,282,660,000$
Gross Profit2,660,000,000$2,255,000,000$1,920,000,000$1,708,000,000$2,495,000,000$1,958,000,000$1,672,000,000$1,441,000,000$2,023,000,000$1,568,000,000$1,093,000,000$818,762,000$1,026,626,000$504,323,000$(125,711,000$)(234,878,000$)(356,733,000$)(373,916,000$)(241,473,000$)(231,122,000$)(342,297,000$)(504,815,000$)521,931,000$1,035,894,000$1,563,812,000$1,262,127,000$1,026,063,000$971,888,000$1,384,823,000$1,023,194,000$851,737,000$858,766,000$1,251,275,000$938,489,000$832,736,000$786,352,000$1,223,618,000$794,675,000$676,217,000$728,712,000$1,136,074,000$741,913,000$592,982,000$573,081,000$961,880,000$649,369,000$583,244,000$571,498,000$
Gross Margin51.76%49.69%48.01%45.43%51.06%47.64%44.85%43.26%48.63%44.51%37.87%31.45%34.30%23.09%(11.87%)(23.92%)(78.07%)(734.41%)(574.74%)(677.02%)1,016.08%(287.47%)25.68%41.15%49.07%44.97%42.06%41.67%49.53%43.77%42.00%42.84%48.70%42.75%41.46%41.18%47.73%37.75%35.26%38.31%45.03%36.05%32.66%31.53%40.27%32.80%30.91%30.82%
Operating Expenses958,000,000$926,000,000$975,000,000$1,084,000,000$861,000,000$859,000,000$922,000,000$871,000,000$758,000,000$797,000,000$821,000,000$805,335,000$728,201,000$722,967,000$733,497,000$796,533,000$649,091,000$649,618,000$567,758,000$785,427,000$653,817,000$777,672,000$1,828,338,000$736,469,000$673,020,000$688,474,000$707,232,000$607,861,000$585,090,000$566,299,000$577,591,000$551,417,000$513,787,000$518,792,000$553,214,000$489,510,000$488,655,000$512,402,000$513,090,000$478,794,000$878,069,000$480,616,000$487,300,000$453,737,000$432,418,000$453,782,000$485,778,000$496,529,000$
Operating Income1,702,000,000$1,329,000,000$945,000,000$624,000,000$1,634,000,000$1,099,000,000$750,000,000$570,000,000$1,265,000,000$771,000,000$272,000,000$13,427,000$298,425,000$(218,644,000$)(859,208,000$)(1,031,411,000$)(1,005,824,000$)(1,023,534,000$)(809,231,000$)(1,016,549,000$)(996,114,000$)(1,282,487,000$)(1,306,407,000$)299,425,000$890,792,000$573,653,000$318,831,000$364,027,000$799,733,000$456,895,000$274,146,000$307,349,000$737,488,000$419,697,000$279,522,000$296,842,000$734,963,000$282,273,000$163,127,000$249,918,000$258,005,000$261,297,000$105,682,000$119,344,000$529,462,000$195,587,000$97,466,000$74,969,000$
Operating Margin33.12%29.29%23.63%16.60%33.44%26.74%20.12%17.11%30.41%21.89%9.43%.52%9.97%(10.01%)(81.12%)(105.02%)(220.11%)(2,010.32%)(1,926.10%)(2,977.76%)2,956.88%(730.33%)(64.27%)11.89%27.95%20.44%13.07%15.61%28.60%19.55%13.52%15.33%28.70%19.12%13.92%15.55%28.67%13.41%8.51%13.14%10.23%12.70%5.82%6.57%22.17%9.88%5.17%4.04%
Interest Income
Interest Expenses424,000,000$346,481,000$340,620,000$355,512,000$360,000,000$431,448,000$352,187,000$302,706,000$277,659,000$284,014,000$430,661,000$304,811,000$272,514,000$273,089,000$259,349,000$218,889,000$92,911,000$94,756,000$102,038,000$111,304,000$100,415,000$97,420,000$86,510,000$81,864,000$67,878,000$69,800,000$73,233,000$76,632,000$80,317,000$80,567,000$82,610,000$78,747,000$65,446,000$64,127,000$66,819,000$76,620,000$70,159,000$64,368,000$60,100,000$65,260,000$68,571,000$75,709,000$
Income Before Tax1,579,000,000$1,214,000,000$736,000,000$559,000,000$1,115,000,000$858,000,000$364,000,000$279,000,000$1,011,000,000$463,000,000$(48,000,000$)(500,244,000$)32,968,000$(521,582,000$)(1,167,142,000$)(1,356,469,000$)(1,424,554,000$)(1,347,255,000$)(1,131,722,000$)(1,366,935,000$)(1,339,312,000$)(1,631,848,000$)(1,437,035,000$)280,474,000$890,365,000$479,955,000$256,806,000$320,453,000$810,391,000$466,295,000$218,653,000$288,039,000$752,842,000$369,526,000$214,726,000$261,086,000$693,257,000$229,905,000$99,140,000$206,799,000$228,787,000$184,967,000$45,230,000$109,768,000$490,248,000$137,673,000$26,457,000$7,018,000$
Tax Expenses
Net Income1,579,000,000$1,214,000,000$736,000,000$559,000,000$1,115,000,000$858,000,000$364,000,000$279,000,000$1,011,000,000$463,000,000$(48,000,000$)(500,244,000$)32,968,000$(521,582,000$)(1,167,142,000$)(1,356,469,000$)(1,424,554,000$)(1,347,255,000$)(1,131,722,000$)(1,366,935,000$)(1,339,312,000$)(1,631,848,000$)(1,437,035,000$)280,474,000$890,365,000$479,955,000$256,806,000$320,453,000$810,391,000$466,295,000$218,653,000$288,039,000$752,842,000$369,526,000$214,726,000$261,086,000$693,257,000$229,905,000$99,140,000$206,799,000$228,787,000$184,967,000$45,230,000$109,768,000$490,248,000$137,673,000$26,457,000$7,018,000$
Profit Margin30.73%26.75%18.41%14.87%22.82%20.88%9.76%8.38%24.30%13.14%(1.66%)(19.22%)1.10%(23.88%)(110.19%)(138.12%)(311.75%)(2,646.14%)(2,693.68%)(4,004.15%)3,975.64%(929.27%)(70.69%)11.14%27.94%17.10%10.53%13.74%28.98%19.95%10.78%14.37%29.30%16.83%10.69%13.67%27.04%10.92%5.17%10.87%9.07%8.99%2.49%6.04%20.52%6.95%1.40%.38%
TTM23.45%21.09%19.51%17.57%16.29%16.39%14.36%12.27%7.03%(.44%)(9.72%)(24.39%)(41.73%)(95.46%)(207.73%)(343.34%)(902.44%)(5,552.94%)(2,508.30%)(261.46%)(87.97%)(23.99%)2.03%17.42%18.09%18.00%18.72%19.13%19.46%19.31%18.52%18.51%18.41%17.73%16.29%15.11%14.48%9.05%8.57%8.02%6.92%10.27%9.78%9.46%8.16%6.68%5.34%5.95%
Earnings to Minority4,000,000$5,000,000$6,000,000$6,000,000$4,000,000$4,000,000$4,000,000$2,000,000$2,000,000$4,000,000$0$7,444,000$7,444,000$7,444,000$7,338,000$7,125,000$7,125,000$7,125,000$4,750,000$0$
Earnings to Common Shareholders1,575,000,000$1,210,000,000$730,000,000$552,000,000$1,111,000,000$854,000,000$360,000,000$277,000,000$1,009,000,000$459,000,000$(48,000,000$)(500,244,000$)32,968,000$(521,582,000$)(1,167,142,000$)(1,356,469,000$)(1,424,554,000$)(1,347,255,000$)(1,131,722,000$)(1,366,935,000$)(1,346,756,000$)(1,639,292,000$)(1,444,479,000$)273,136,000$883,240,000$472,830,000$249,681,000$315,703,000$810,391,000$466,295,000$218,653,000$288,039,000$752,842,000$369,526,000$214,726,000$261,086,000$693,257,000$229,905,000$99,140,000$206,799,000$228,787,000$184,967,000$45,230,000$109,768,000$490,248,000$137,673,000$26,457,000$7,018,000$
QoQ%30.17%65.75%32.25%(50.32%)30.09%137.22%29.96%(72.55%)119.83%1,056.25%90.41%(1,617.36%)106.32%55.31%13.96%4.78%(5.74%)(19.05%)17.21%(1.50%)17.85%(13.49%)(628.85%)(69.08%)86.80%89.37%(20.91%)(61.04%)73.79%113.26%(24.09%)(61.74%)103.73%72.09%(17.76%)(62.34%)201.54%131.90%(52.06%)(9.61%)23.69%308.95%(58.80%)(77.61%)256.10%420.37%276.99%(98.08%)
YoY%41.76%41.69%102.78%99.28%10.11%86.06%850.00%155.37%2,960.54%188.00%95.89%63.12%102.31%61.29%(3.13%).77%(5.78%)17.82%21.65%(600.46%)(252.48%)(446.70%)(678.53%)(13.48%)8.99%1.40%14.19%9.60%7.64%26.19%1.83%10.32%8.60%60.73%116.59%26.25%203.01%24.30%119.19%88.40%(53.33%)34.35%70.96%1,464.09%34.06%456.32%(65.29%)101.79%
Earnings Per Share, Basic5.79$4.45$2.71$2.07$4.22$3.32$1.40$1.08$3.94$1.79$(0.19$)(1.96$)0.13$(2.05$)(4.58$)(5.30$)(5.59$)(5.29$)(4.66$)(6.08$)(6.29$)(7.83$)(6.91$)1.31$4.21$2.26$1.19$1.51$3.88$2.20$1.03$1.35$3.51$1.72$1.00$1.22$3.23$1.07$0.46$0.95$1.04$0.84$0.21$0.50$2.20$0.62$0.12$0.03$
Earnings Per Share, Diluted5.75$4.40$2.64$1.90$4.21$3.04$1.28$0.88$3.58$1.63$(0.19$)(1.96$)0.13$(2.05$)(4.58$)(5.30$)(5.59$)(5.29$)(4.66$)(6.08$)(6.29$)(7.83$)(6.91$)1.30$4.20$2.25$1.19$1.50$3.86$2.19$1.02$1.34$3.49$1.71$0.99$1.21$3.21$1.06$0.46$0.94$1.03$0.84$0.20$0.49$2.19$0.62$0.12$0.03$
Unlevered FCF Per Share, Basic(3.64$)3.35$4.46$3.43$2.14$(2.21$)4.23$(5.65$)1.48$2.33$4.15$1.60$(1.06$)(1.87$)(7.42$)(3.05$)(3.03$)(2.69$)(7.70$)(5.42$)(4.85$)(11.40$)(5.04$)(0.35$)2.08$(1.33$)2.91$(2.00$)2.48$2.43$(3.74$)1.14$3.17$3.32$3.14$1.56$2.16$(4.67$)1.05$0.39$1.63$(1.06$)0.55$(4.39$)1.63$1.80$0.62$(0.22$)
Unlevered FCF Per Share, Diluted(3.61$)3.31$4.34$3.16$2.13$(2.02$)3.86$(4.64$)1.34$2.11$4.15$1.60$(1.06$)(1.87$)(7.42$)(3.05$)(3.03$)(2.69$)(7.70$)(5.42$)(4.85$)(11.40$)(5.04$)(0.35$)2.07$(1.33$)2.90$(1.99$)2.47$2.42$(3.73$)1.13$3.15$3.30$3.12$1.55$2.15$(4.65$)1.05$0.39$1.62$(1.06$)0.55$(4.36$)1.62$1.79$0.62$(0.22$)
Average Shares, Basic272,000,000272,000,000269,000,000267,000,000263,000,000257,000,000257,000,000257,000,000256,000,000256,000,000255,000,000255,144,000255,071,000254,964,000254,821,000255,706,000254,713,000254,577,000243,004,000224,695,000214,163,000209,385,000209,097,000209,192,000209,575,000209,531,000209,322,000208,943,000209,054,000211,673,000212,610,000213,819,000214,694,000215,085,000214,870,000214,574,000214,819,000215,265,000216,914,000218,646,000219,963,000219,913,000219,626,000220,625,000222,523,000222,189,000221,295,000220,209,000
Average Shares, Diluted274,000,000275,000,000276,000,000290,000,000264,000,000281,000,000281,000,000313,000,000282,000,000282,000,000255,000,000254,837,000255,378,000254,964,000254,821,000255,706,000254,713,000254,577,000243,004,000224,695,000214,163,000209,385,000209,097,000209,673,000210,121,000210,052,000209,874,000210,177,000209,928,000212,509,000213,602,000215,077,000215,824,000216,062,000215,813,000215,597,000215,667,000216,131,000217,869,000219,875,000221,137,000220,902,000220,842,000222,265,000223,859,000223,381,000222,671,000221,628,000
EBIT1,579,000,000$1,214,000,000$736,000,000$559,000,000$1,115,000,000$858,000,000$788,000,000$625,481,000$1,351,620,000$818,512,000$312,000,000$(68,796,000$)385,155,000$(218,876,000$)(889,483,000$)(1,072,455,000$)(993,893,000$)(1,042,444,000$)(859,208,000$)(1,093,846,000$)(1,079,963,000$)(1,412,959,000$)(1,344,124,000$)375,230,000$992,403,000$591,259,000$357,221,000$417,873,000$896,901,000$548,159,000$286,531,000$357,839,000$826,075,000$446,158,000$295,043,000$341,653,000$775,867,000$308,652,000$164,586,000$270,926,000$295,606,000$261,587,000$115,389,000$174,136,000$550,348,000$202,933,000$95,028,000$82,727,000$
EBITDA2,014,000,000$1,631,000,000$1,148,000,000$969,000,000$1,525,000,000$1,251,000,000$1,175,000,000$993,481,000$1,716,620,000$1,180,512,000$672,000,000$292,110,000$740,240,000$132,666,000$(550,016,000$)(738,967,000$)(667,986,000$)(719,005,000$)(549,042,000$)(775,818,000$)(762,824,000$)(1,093,202,000$)(1,019,794,000$)696,992,000$1,312,698,000$902,859,000$649,506,000$698,041,000$1,156,824,000$801,535,000$526,761,000$598,197,000$1,066,225,000$681,095,000$1,246,237,000$574,856,000$1,005,195,000$530,272,000$1,059,501,000$480,256,000$506,348,000$468,055,000$315,857,000$367,518,000$742,796,000$395,813,000$288,763,000$273,349,000$