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
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Royal Caribbean Cruises Ltd. (RCL) Operating margin
Royal Caribbean Cruises Ltd.'s operating margin over the twelve months to 30 September 2026 was 27.6%, up 0.2 percentage points from fiscal 2025 (27.4%). Over the past ten years it has ranged from −252.6% (fiscal 2021) to 27.4% (fiscal 2025) — the current reading is the highest in ten years. That is above the Travel Services industry median of 15.6% and above the Consumer Cyclical sector median of 3.88%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 27.4% | 2.46 |
| FY2024 | 24.9% | 4.21 |
| FY2023 | 20.7% | 29.38 |
| FY2022 | −8.67% | 243.94 |
| FY2021 | −252.6% | (44.28) |
| FY2020 | −208.3% | (227.35) |
| FY2019 | 19.0% | (0.94) |
| FY2018 | 20.0% | 0.09 |
| FY2017 | 19.9% | 2.48 |
| FY2016 | 17.4% | 6.85 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 33.5% | 6.38 |
| Jun 2026 | 27.1% | 0.97 |
| Mar 2026 | 26.1% | 4.22 |
| Dec 2025 | 21.9% | (11.24) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| BKNG Booking Holdings Inc. compare | 32.8% |
| RCL Royal Caribbean Cruises Ltd. | 27.6% |
| VIK Viking Holdings Ltd. compare | 23.3% |
| ABNB Airbnb, Inc. compare | 22.5% |
| EXPE Expedia Group, Inc. compare | 17.2% |
| TCOM Trip.com Group Limited Sponsored ADR compare | 16.1% |
| CCL Carnival Corporation compare | 16.0% |
| MMYT MakeMyTrip Limited compare | 15.2% |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | 13.9% |
| Travel Services industry median | 15.6% |
| Consumer Cyclical sector median | 3.88% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross 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