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 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1,860 | 1,834 | 1,623 | 1,469 | 1,746 | 1,627 | 1,467 | 897 | 1,573 | 1,328 | 1,116 | 659 |
| Depreciation and amortization | 464 | 461 | 453 | 436 | 417 | 412 | 410 | 410 | 393 | 387 | 368 | 366 |
| Capital expenditure | -2,737 | -500 | -1,507 | -2,458 | -836 | -428 | -552 | -334 | -2,140 | -242 | -2,568 | -281 |
| Investing cash flow | -2,673 | -529 | -1,479 | -2,387 | -706 | -440 | -641 | -311 | -2,198 | -296 | -2,574 | -328 |
| Financing cash flow | 1,176 | -1,617 | 254 | 615 | -696 | -1,191 | -852 | -559 | 580 | -1,091 | 1,353 | -457 |
| Dividends paid | -404 | -270 | -272 | -204 | -200 | -148 | -107 | — | — | — | — | — |
| Share repurchases | -205 | -1,021 | -504 | -414 | -2.0 | -301 | — | — | — | — | — | — |
| Debt issued | 2,909 | 2,807 | 1,509 | 2,432 | 250 | 480 | 960 | 4,660 | 2,519 | 2,179 | 5,833 | 600 |
| Debt repaid | -1,109 | -3,084 | -459 | -1,130 | -724 | -1,221 | -1,682 | -4,995 | -1,867 | -3,107 | -4,311 | -1,006 |
| Effect of exchange rates | 0.0 | -1.0 | -5.0 | 0.0 | 5.0 | 2.0 | -4.0 | — | -1.0 | -1.0 | 2.0 | -1.0 |
| Net change in cash | 363 | -313 | 393 | -303 | 349 | -2.0 | -30.0 | 27.0 | -46.0 | -60.0 | -103 | -126 |
| Free cash flow | -877 | 1,334 | 116 | -989 | 910 | 1,199 | 915 | 563 | -567 | 1,086 | -1,452 | 378 |
| Levered free cash flow | -1,034 | 1,071 | -23.1 | -1,604 | 280 | 1,068 | 813 | 228 | -968 | 936 | -1,514 | -4.1 |