Royal Caribbean Cruises revenue and financials
$288.78Change from previous close: +5.00%Absolute change: +$13.75
In the fiscal year ended December 2025, Royal Caribbean Cruises reported revenue of $17.94B (+8.80% year over year). Net income was $4.27B, a net margin of 23.8%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +8.80%
- 2025 vs 2024
- Net income growth
- +48.35%
- 2025 vs 2024
- Net margin
- 23.8%
- 2024: 17.5%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 6,465 | 5,265 | 4,477 | 481 | -1,878 | -3,732 | 3,716 | 3,479 | 2,875 | 2,517 |
| Depreciation and amortization | 1,718 | 1,600 | 1,455 | 1,407 | 1,293 | 1,279 | 1,246 | 1,034 | 951 | 895 |
| Capital expenditure | -5,229 | -3,268 | -3,897 | -2,710 | -2,230 | -1,965 | -3,025 | -3,660 | -564 | -2,494 |
| Investing cash flow | -5,012 | -3,446 | -3,923 | -2,987 | -2,145 | — | — | — | — | — |
| Financing cash flow | -1,018 | -1,922 | -1,993 | 1,741 | 3,041 | — | — | — | — | — |
| Dividends paid | -824 | -107 | 0.0 | 0.0 | 0.0 | -326 | -603 | -527 | -437 | -346 |
| Share repurchases | -1,159 | 0.0 | 0.0 | — | 0.0 | 0.0 | -99.6 | -575 | -225 | -300 |
| Debt issued | 4,671 | 10,318 | 7,641 | 9,787 | 4,468 | — | — | — | — | — |
| Debt repaid | -3,534 | -11,651 | -9,566 | -7,729 | -2,712 | — | — | — | — | — |
| Effect of exchange rates | 2.0 | -6.0 | 1.0 | -2.0 | — | — | — | — | — | — |
| Net change in cash | 437 | -109 | -1,438 | -767 | -982 | — | — | — | — | — |
| Free cash flow | 1,236 | 1,997 | 580 | -2,229 | -4,108 | — | — | — | — | — |
| Levered free cash flow | -198 | 1,072 | -11.9 | -1,316 | -2,204 | — | — | — | — | — |