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Saturday 17 October 2026 Export RCL’s income statement to Excel — free account

Royal 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. In the quarter to June 2026, revenue grew 6.48%, EPS fell 5.39%, free cash flow fell 196.4% and total debt rose 20.1%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for three, operating cash flow growth for five.

277.68 2.33 −0.83%
Market cap
$74.9B
P/E
17.1×
Fwd P/E
16.3×
Dividend yield
1.98%
F-score
7/9
Altman Z
2.18
Beneish M
−2.86
Dividend safety
57/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Royal Caribbean Cruises Ltd. (RCL) Operating margin

Alert me on Operating margin

Royal Caribbean Cruises Ltd.'s operating margin over the twelve months to 30 June 2026 was 27.3%, down 0.1 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 15.1% and above the Consumer Cyclical sector median of 3.57%.

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)
Jun 2026 27.1% 0.97
Mar 2026 26.1% 4.22
Dec 2025 21.9% (11.24)
Sep 2025 33.1% 3.81
42 more quarters

Against its own ten years

Low −252.6% High 27.4%
Ten-year median 19.0%
Current reading's percentile 95

Operating margin against peers

Company Operating margin
BKNG Booking Holdings Inc. compare 32.9%
RCL Royal Caribbean Cruises Ltd. 27.3%
VIK Viking Holdings Ltd. compare 23.3%
ABNB Airbnb, Inc. compare 20.8%
TCOM Trip.com Group Limited Sponsored ADR compare 16.1%
CCL Carnival Corporation compare 16.0%
EXPE Expedia Group, Inc. compare 16.0%
NCLH Norwegian Cruise Line Holdings Ltd. compare 15.1%
MMYT MakeMyTrip Limited compare 15.0%
Travel Services industry median 15.1%
Consumer Cyclical sector median 3.57%
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

The full definition of Operating margin →

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