stockrowRoyal Caribbean Cruises Ltd.
RCL Consumer Cyclical Travel Services
Royal Caribbean Cruises Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $17.9 billion, up 8.80% from fiscal 2024.
- Revenue
- +8.80%
- EPS
- +11.6%
- Free cash flow
- +194.7%
- Total debt
- +10.2%
Quarter to September 2026, against a year earlier
Follow RCL
Alert me
Royal Caribbean Cruises Ltd. (RCL) Gross margin
Royal Caribbean Cruises Ltd.'s gross margin over the twelve months to 30 September 2026 was 49.1%, down 0.3 percentage points from fiscal 2025 (49.4%). Over the past ten years it has ranged from −78.8% (fiscal 2021) to 49.4% (fiscal 2025) — the current reading is the highest in ten years. That is below the Travel Services industry median of 52.2% and above the Consumer Cyclical sector median of 34.3%.
Gross margin, annual
Embed this chart
Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 49.4% | 1.85 |
| FY2024 | 47.5% | 3.45 |
| FY2023 | 44.1% | 18.90 |
| FY2022 | 25.2% | 103.95 |
| FY2021 | −78.8% | (53.60) |
| FY2020 | −25.2% | (69.83) |
| FY2019 | 44.6% | 0.07 |
| FY2018 | 44.6% | 0.35 |
| FY2017 | 44.2% | 3.25 |
| FY2016 | 41.0% | 2.42 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 51.5% | 4.20 |
| Jun 2026 | 47.3% | (2.24) |
| Mar 2026 | 49.5% | 2.17 |
| Dec 2025 | 47.4% | (4.38) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| BKNG Booking Holdings Inc. compare | 100.0% |
| EXPE Expedia Group, Inc. compare | 90.5% |
| ABNB Airbnb, Inc. compare | 83.1% |
| TCOM Trip.com Group Limited Sponsored ADR compare | 80.1% |
| MMYT MakeMyTrip Limited compare | 77.3% |
| RCL Royal Caribbean Cruises Ltd. | 49.1% |
| VIK Viking Holdings Ltd. compare | 43.2% |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | 41.4% |
| CCL Carnival Corporation compare | 39.5% |
| Travel Services industry median | 52.2% |
| Consumer Cyclical sector median | 34.3% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on RCL
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement