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Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of December 31, 2025, it operated 69 ships. Royal Caribbean Cruises Ltd. was founded in 1968 and is headquartered in Miami, Florida.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $17.9B | $7.1B | $4.3B | $1.2B | 42.5% | 8.8% | 48.3% |
| 2024 | $16.5B | $6.1B | $2.9B | $2.0B | 38.0% | 18.6% | 69.5% |
| 2023 | $13.9B | $4.6B | $1.7B | $580M | 35.9% | 57.2% | -178.7% |
| 2022 | $8.8B | $615M | $-2.2B | $-2.2B | -75.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 17,934 |
| Operating Revenue | 17,934 |
| Cost Of Revenue | 9,083 |
| Gross Profit | 8,851 |
| Operating Expense | 3,941 |
| Selling General And Administration | 2,223 |
| Total Expenses | 13,024 |
| Operating Income | 4,910 |
| Total Operating Income As Reported | 4,910 |
| EBITDA | 7,083 |
| Normalized EBITDA | 7,083 |
| EBIT | 5,365 |
| Interest Income | 24 |
| Interest Expense | 992 |
| Net Interest Income | -968 |
| Other Non Operating Income Expenses | 17 |
| Other Income Expense | 431 |
| Interest Income Non Operating | 24 |
| Interest Expense Non Operating | 992 |
| Net Non Operating Interest Income Expense | -968 |
| Pretax Income | 4,373 |
| Tax Provision | 82 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | 4,291 |
| Net Income From Continuing And Discontinued Operation | 4,268 |
| Net Income From Continuing Operation Net Minority Interest | 4,268 |
| Net Income | 4,268 |
| Net Income Common Stockholders | 4,268 |
| Net Income Including Noncontrolling Interests | 4,291 |
| Normalized Income | 4,268 |
| Diluted NI Availto Com Stockholders | 4,284 |
| Basic Average Shares | 271 |
| Diluted Average Shares | 274 |
| Reconciled Depreciation | 1,718 |
| Reconciled Cost Of Revenue | 9,083 |
| Total Unusual Items | - |
| Total Unusual Items Excluding Goodwill | - |
| Minority Interests | -23 |
| Special Income Charges | - |
| Write Off | - |
| Gain On Sale Of Security | - |
| Depreciation Amortization Depletion Income Statement | 1,718 |
| Depreciation And Amortization In Income Statement | 1,718 |
| Earnings From Equity Interest | 414 |
| Average Dilution Earnings | 16 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Royal Caribbean Cruises Ltd.this co. | RCL | $78.7B | 18.43↓ discount | 7.84 | 42.5% | 14.10 |
| MercadoLibre, Inc. | MELI | $82.9B | 41.50 | 12.28 | 29.6% | 23.72 |
| Airbnb, Inc. | ABNB | $79.4B | 31.61 | 9.68 | 30.6% | 29.43 |
| Hilton Worldwide Holdings Inc. | HLT | $77.0B | 52.83 | -14.29 | -27.0% | 31.08 |
| General Motors Company | GM |
| - |
| - |
| - |
| - |
| - |
| - |
| $75.0B |
| 23.60 |
| 1.23 |
| 5.2% |
| 9.69 |
| Ross Stores, Inc. | ROST | $74.8B | 34.85 | 12.08 | 34.7% | 22.24 |
| O'Reilly Automotive, Inc. | ORLY | $73.3B | 28.86 | - | -332.5% | 20.46 |
| Carvana Co. | CVNA | $72.6B | 51.60 | 21.10 | 40.9% | -689.03 |
| DoorDash, Inc. | DASH | $69.7B | 74.59 | 6.95 | 9.3% | 46.64 |
| Peer Median | - | 38.18 | 9.68 | 19.5% | 22.98 | |