Royal Caribbean Cruises Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	17,935	16,484	13,900	8,840	1,532
Revenue Growth (YoY)	8.80%	18.59%	57.24%	477.02%	-30.64%
Cost of Revenue	9,083	8,652	7,775	6,616	2,739
Gross Profit	8,852	7,832	6,125	2,224	-1,207
Selling, General & Admin	2,223	2,125	1,792	1,583	1,370
Depreciation & Amortization Expenses	1,718	1,600	1,455	1,407	1,293
Other Operating Expenses	-	-	-	-1,390	-1,390
Operating Income	4,910	4,106	2,878	-766	-3,870
Interest Income	438	276	236	93	-118
Interest Expense	-992	-1,590	-1,402	-1,364	-1,292
Other Non-Operating Income (Expense)	17	149	-2	-119	20
Total Non-Operating Income (Expense)	-537	-1,165	-1,168	-1,390	-1,390
Pretax Income	4,373	2,941	1,711	-2,156	-5,260
Provision for Income Taxes	82	46	6	-	-
Net Income	4,268	2,877	1,697	-2,156	-5,260
Minority Interest in Earnings	23	18	7	-	-
Net Income to Common	4,268	2,877	1,697	-2,156	-5,260
Net Income Growth	48.35%	69.53%	-	-	-
Shares Outstanding (Basic)	271	261	256	255	252
Shares Outstanding (Diluted)	274	279	283	255	252
Shares Change (YoY)	-1.79%	-1.41%	10.98%	1.19%	17.57%
EPS (Basic)	15.75	11.00	6.63	-8.45	-20.89
EPS (Diluted)	15.61	10.94	6.31	-8.45	-20.89
EPS Growth	42.69%	73.38%	-	-	-
Free Cash Flow	1,236	1,997	580	-2,229	-4,108
Free Cash Flow Growth	-38.11%	244.31%	-	-	-
Free Cash Flow Per Share	4.51	7.16	2.05	-8.74	-16.30
Dividends Per Share	3.500	0.950	-	-	-
Dividend Growth	268.42%	-	-	-	-
Gross Margin	49.36%	47.51%	44.06%	25.16%	-78.79%
Operating Margin	27.38%	24.91%	20.71%	-8.67%	-252.61%
Profit Margin	23.93%	17.57%	12.26%	-24.39%	-343.34%
FCF Margin	6.89%	12.11%	4.17%	-25.21%	-268.15%
EBITDA	6,628	5,706	4,333	641	-2,577
EBITDA Margin	36.96%	34.62%	31.17%	7.25%	-168.21%
EBIT	4,910	4,106	2,878	-766	-3,870
EBIT Margin	27.38%	24.91%	20.71%	-8.67%	-252.61%
Effective Tax Rate	1.88%	1.56%	0.35%	0.00%	0.00%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.