NYSE:RCL
Royal Caribbean Cruises Ltd.
Royal Caribbean Cruises Ltd.'s revenue grew 8.8% in fiscal 2025 to $17.9B while operating margin rose to 27.4%, its highest in 10 years. Free cash flow was $1.2B, 6.9% of revenue, and the diluted share count fell 1.8%.Summary generated from Royal Caribbean Cruises Ltd.'s SEC filings. Latest annual report filed Feb 11, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$17.9B
Revenue growth+8.8%
Revenue, 5-yr CAGR+52.0%
Gross margin49.4%
Operating margin27.4%
Net margin23.8%
ROIC16.7%
Return on equity48.5%
Debt / equity2.13
Free cash flow$1.2B
FCF margin6.9%
Share count change−1.8%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 1.5 | 8.8 | 13.9 | 16.5 | 17.9 |
| Operating income | −3.9 | −0.8 | 2.9 | 4.1 | 4.9 |
| Net income | −5.3 | −2.2 | 1.7 | 2.9 | 4.3 |
| Free cash flow | −4.1 | −2.2 | 0.6 | 2.0 | 1.2 |
Recent filings
- 8-KOther events
Sep 23, 2026 - 8-KEntry into a material agreement
Aug 20, 2026 - 8-KEntry into a material agreement
Aug 7, 2026 - 4Insider transaction report
Aug 3, 2026 - 4Insider transaction report
Jul 31, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Jul 28, 2026 - 8-KResults of operations and financial condition
Jul 28, 2026 - 8-KDirector or officer change
Jul 20, 2026