Royal Caribbean Group (RCL) financials
Royal Caribbean Group revenue and earnings by year
Royal Caribbean Group's revenue was $17.9 billion in the fiscal year to December 31, 2025, up 8.8% from the year before. Net income was $4.27 billion, 23.8% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 8.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 17.9 | 16.5 | 13.9 | 8.8 | 1.5 | 2.2 | 11.0 | 9.5 | 8.8 | 8.5 |
| Revenue growth | 8.8% | 18.6% | 57.2% | 477.0% | -30.6% | -79.8% | 15.3% | 8.2% | 3.3% | — |
| Gross profit | 8.9 | 7.8 | 6.1 | 2.2 | -1.2 | -0.6 | 4.9 | 4.2 | 3.9 | 3.5 |
| Gross margin | 49.4% | 47.5% | 44.1% | 25.2% | -78.8% | -25.2% | 44.6% | 44.6% | 44.2% | 41.0% |
| Operating income | 4.9 | 4.1 | 2.9 | -0.8 | -3.9 | -4.6 | 2.1 | 1.9 | 1.7 | 1.5 |
| Operating margin | 27.4% | 24.9% | 20.7% | -8.7% | -252.6% | -208.3% | 19.0% | 20.0% | 19.9% | 17.4% |
| Net income | 4.3 | 2.9 | 1.7 | -2.2 | -5.3 | -5.8 | 1.9 | 1.8 | 1.6 | 1.3 |
| Net margin | 23.8% | 17.5% | 12.2% | -24.4% | -343.3% | -262.5% | 17.2% | 19.1% | 18.5% | 15.1% |
| Diluted EPS | $15.61 | $10.94 | $6.31 | -$8.45 | -$20.89 | -$27.12 | $8.94 | $8.57 | $7.53 | $5.94 |
| Free cash flow | 1.2 | 2.0 | 0.6 | -2.2 | -3.9 | -5.7 | 0.7 | -0.2 | 2.5 | 0.0 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open RCL in Markets.
How Royal Caribbean Group makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Cruise Itinerary | $5.30B | 94.8% |
| Other | $288M | 5.2% |
See also: RCL valuation and P/E history · RCL returns
No forecast, no recommendation. This page describes Royal Caribbean Group from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.