Royal Caribbean Cruises Ltd. (RCL) — Financial statements
Income statement, balance sheet, and cash flow for Royal Caribbean Cruises Ltd. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 17,935↑8.8% | 16,485↑18.6% | 13,900↑57.2% | 8,840↑477.0% | 1,532 | |
| Cost of Revenue | 9,535↑10.2% | 8,652↑11.3% | 7,775↑17.5% | 6,616↑141.5% | 2,739 | |
| Gross Profit | 8,400↑7.2% | 7,833↑27.9% | 6,125↑175.4% | 2,224↑284.3% | -1,207 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 2,222↑4.6% | 2,125↑18.6% | 1,792↑13.2% | 1,583↑15.5% | 1,370 | |
| Other Expenses | 1,269↓20.8% | 1,602↑10.1% | 1,455↑3.4% | 1,407↑8.8% | 1,293 | |
| Operating Expenses | 3,491↓6.3% | 3,727↑14.8% | 3,247↑8.6% | 2,990↑12.3% | 2,663 | |
| Total Costs & Expenses | 13,026↑5.2% | 12,379↑12.3% | 11,022↑14.7% | 9,606↑77.8% | 5,402 | |
| Operating Results | ||||||
| Operating Income | 4,909↑19.6% | 4,106↑42.7% | 2,878↑475.7% | -766↑80.2% | -3,870 | |
| Depreciation & Amortization | 1,613↑0.8% | 1,600↑10.0% | 1,455↑3.4% | 1,407↑8.8% | 1,293 | |
| EBITDA | 6,909↑13.5% | 6,087↑33.5% | 4,561↑641.6% | 615↑123.0% | -2,675 | |
| EBIT | 5,296↑18.0% | 4,487↑44.5% | 3,106↑492.2% | -792↑80.0% | -3,968 | |
| Interest & Other Income | ||||||
| Net Interest Income | -968↑38.5% | -1,574↓15.2% | -1,366↓2.9% | -1,328↓4.2% | -1,275 | |
| Interest Income | 24↑50.0% | 16↓55.6% | 36↑0.0% | 36↑111.8% | 17 | |
| Interest Expense | 992↓37.6% | 1,590↑13.4% | 1,402↑2.8% | 1,364↑5.6% | 1,292 | |
| Non-Operating Income | -387↓1.6% | -381↓67.1% | -228↓976.9% | 26↓73.5% | 98 | |
| Other Income / Expenses | -605↑50.0% | -1,209↓3.0% | -1,174↑15.5% | -1,390↑0.0% | -1,390 | |
| Income Before Tax | 4,304↑48.6% | 2,897↑70.0% | 1,704↑179.0% | -2,156↑59.0% | -5,260 | |
| Income Tax Expense | 15 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 4,289↑48.0% | 2,897↑70.0% | 1,704↑179.0% | -2,156↑59.0% | -5,260 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 4,273↑48.5% | 2,877↑69.5% | 1,697↑178.7% | -2,156↑59.0% | -5,260 | |
| Bottom-Line Net Income | 4,285↑40.4% | 3,052↑71.0% | 1,785↑182.8% | -2,156↑59.0% | -5,260 | |
| EPS (Basic) | 15.73↑43.0% | 11.00↑65.9% | 6.63↑178.5% | -8.45↑59.6% | -20.89 | |
| EPS (Diluted) | 15.61↑42.7% | 10.94↑73.4% | 6.31↑174.7% | -8.45↑59.6% | -20.89 | |
| Weighted Average Shares | 271↑3.8% | 261↑2.0% | 256↑0.4% | 255↑1.3% | 252 | |
| Weighted Average Diluted Shares | 273↓2.2% | 279↓1.4% | 283↑11.0% | 255↑1.3% | 252 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.