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ROYAL CARIBBEAN CRUISES LTD

CIK: 884887 SIC: 4400
$17.93B
Revenue
$4.27B
Net Income
49.36%
Gross Margin
27.37%
Op. Margin
$4.54B
Free Cash Flow
Financial Statements Annual (10-K)
Showing 10 of 16 annual reports available (2010 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
+ Total Revenue $17.93B $17.93B $16.48B $13.90B $8.84B $1.53B $2.21B $10.95B $9.49B $8.78B $8.50B
Revenue Growth % 0.0% 8.8% 18.6% 57.2% 477.0% -30.6% -79.8% 15.3% 8.2% 3.3% nan%
Cost of Revenue $9.08B $9.08B $8.65B $7.78B $6.61B $2.66B $2.77B $6.06B $5.26B $4.90B $5.02B
+ Gross Profit $8.85B $8.85B $7.83B $6.12B $2.23B $-1.13B $-556.30M $4.89B $4.23B $3.88B $3.48B
Gross Margin % 49.4% 49.4% 47.5% 44.1% 25.2% -73.5% -25.2% 44.6% 44.6% 44.2% 41.0%
Operating Expenses - - - - - - - - - $7.03B $7.02B
Selling General & Admin $2.22B $2.22B $2.12B $1.79B $1.58B $1.37B $1.20B $1.56B $1.30B $1.19B $1.10B
+ Operating Income $4.91B $4.91B $4.11B $2.88B $-763.98M $-3.87B $-4.60B $2.08B $1.89B $1.74B $1.48B
Operating Margin % 27.4% 27.4% 24.9% 20.7% -8.6% -252.6% -208.3% 19.0% 20.0% 19.9% 17.4%
Interest Expense $1.59B $864.00M $1.21B $1.40B $1.36B $1.29B $844.24M $408.51M $333.67M $299.98M $307.37M
Other Income/Expense $18.00M $17.00M $103.00M $-8.00M $-120.38M $20.28M $-137.09M $-24.51M $11.11M $-5.29M $-35.65M
Income Before Tax - $4.37B $2.94B $1.71B - - - - - - -
Income Tax Expense - $82.00M $46.00M $6.00M - - - - - - -
+ Net Income $4.27B $4.27B $2.88B $1.70B $-2.16B $-5.26B $-5.80B $1.88B $1.81B $1.63B $1.28B
Net Margin % 23.8% 23.8% 17.5% 12.2% -24.4% -343.3% -262.5% 17.2% 19.1% 18.5% 15.1%
Basic EPS 15.73 15.75 11.00 6.63 -8.45 -20.89 -27.05 8.97 8.60 7.57 5.96
Diluted EPS 15.63 15.61 10.94 6.31 -8.45 -20.89 -27.05 8.95 8.56 7.53 5.93
Basic Shares Outstanding - 271.0M 261.0M 256.0M - - - - - - -
Diluted Shares Outstanding - 274.0M 279.0M 283.0M - - - - - - -
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Cash & Cash Equivalents $825.00M $388.00M $497.00M $1.94B $2.70B $3.68B $243.74M $287.85M $120.11M $132.60M
Accounts Receivable $317.00M $371.00M $405.00M $531.07M $408.07M $284.15M $305.82M $324.51M $318.64M $291.90M
Inventory $264.00M $265.00M $248.00M $224.02M $150.22M $118.70M $162.11M $153.57M $111.39M $114.09M
Other Current Assets $690.00M $670.00M $617.00M $455.84M $286.03M $154.34M $429.21M $456.55M $193.56M $209.72M
Total Current Assets $2.21B $1.71B $1.79B $3.21B $3.60B $4.31B $1.16B $1.24B $843.03M $748.30M
Property Plant & Equipment $35.70B $31.83B - - - $25.25B $25.47B $23.47B $19.74B $20.16B
Goodwill $808.00M $808.00M $809.00M $809.28M $809.38M $809.48M $1.39B $1.38B $288.51M $288.39M
Intangible Assets $390.00M $404.00M - - - - - - - -
Other Non-current Assets $2.28B $2.05B $1.80B $1.68B $1.40B $1.50B $1.62B $1.61B $1.43B $1.11B
Total Assets $41.62B $37.07B $35.13B $33.78B $32.26B $32.47B $30.32B $27.70B $22.30B $22.31B
Accounts Payable $953.00M $919.00M $792.00M $646.73M $545.98M $353.42M $563.71M $488.21M $360.11M $305.31M
Short-term Debt $3.18B $1.60B - - - - - - - -
Accrued Liabilities $2.03B $1.64B $1.48B $1.07B $887.58M $615.75M $1.08B $899.76M $903.02M $692.32M
Deferred Revenue $5.74B $5.50B $5.31B $4.17B $3.16B $1.78B $3.43B $3.15B $2.31B -
Total Current Liabilities $12.05B $9.82B $9.40B $8.57B $7.29B $4.54B $7.95B $7.11B $4.79B $4.44B
Long-term Debt $18.16B $18.47B $19.73B $21.30B $18.85B $17.96B $8.41B $8.36B $6.35B $8.10B
Other Non-current Liabilities $554.00M $375.00M $486.00M $507.60M $505.18M $645.57M $617.81M $583.25M $452.81M $645.61M
Total Liabilities $31.37B $29.34B $30.23B $30.91B $27.17B $23.70B $17.59B $16.05B $11.66B -
Common Stock $3.00M $3.00M $3.00M $2.83M $2.83M $2.65M $2.37M $2.36M $2.35M $2.35M
Retained Earnings $5.92B $2.61B $-10.00M $-1.71B $302.28M $5.56B $11.52B $10.26B $9.02B $7.86B
Treasury Stock - - - - $2.07B $2.06B $2.06B $1.95B $1.38B $1.15B
Total Stockholders Equity $10.04B $7.56B $4.72B $2.87B $5.09B $8.76B $12.16B $11.11B $10.70B $9.12B
Total Liabilities & Equity $41.62B $37.07B $35.13B $33.78B $32.26B $32.47B $30.32B $27.70B $22.30B $22.31B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Net Income $5.00B $4.27B $2.88B $1.70B $-2.16B $-5.26B $-5.80B $1.88B $1.81B $1.63B $1.28B
Depreciation & Amortization $2.13B $1.72B $1.60B $1.46B $1.41B $1.29B $1.28B $1.25B $1.03B $951.19M $894.91M
Stock-based Compensation $320.00M $175.00M $267.00M $126.00M $36.12M $63.64M $39.78M $75.93M $46.06M $69.46M $32.66M
Deferred Income Tax - $18.00M - - - - - - - - -
Change in Receivables $131.00M $3.00M $-52.00M $-99.00M $234.35M $181.71M $-121.06M $9.90M $9.57M $32.04M $-4.76M
Change in Inventory - - $17.00M $24.00M $73.79M $34.53M $-27.08M $8.53M $23.85M $-2.42M $1.68M
Change in Payables $73.00M $27.00M $120.00M $124.00M $74.66M $188.52M $-133.81M $75.28M $91.74M $36.78M $29.56M
Operating Cash Flow $11.46B $6.46B $5.26B $4.48B $481.86M $-1.88B $-3.73B $3.72B $3.48B $2.87B $2.52B
Capital Expenditure $6.92B $5.23B $3.27B $3.90B $2.71B $2.23B $1.97B $3.02B $3.66B $564.14M $2.49B
Acquisitions - - - - - - - - $916.13M - -
Investing Cash Flow $-6.60B $-5.01B $-3.45B $-3.92B $-2.99B $-2.14B $-2.18B $-3.09B $-4.49B $-213.59M $-2.72B
Debt Repayment $6.70B $3.53B $11.65B $9.57B $7.73B $2.30B $3.85B $4.06B $6.96B $7.84B $6.37B
Stock Repurchased $1.64B $1.16B - - - - - $99.58M $575.04M $225.00M $299.96M
Dividends Paid $1.32B $824.00M $107.00M - - - $326.42M $602.67M $527.49M $437.45M $346.49M
Financing Cash Flow $-4.10B $-1.02B $-1.92B $-1.99B $1.74B $3.04B $9.35B $-670.37M $1.20B $-2.68B $243.81M
Net Change in Cash $782.00M $437.00M $-109.00M $-1.44B $-766.76M $-982.70M $3.44B $-44.11M $167.74M $-12.49M $11.04M
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Total Revenue $5.14B $4.89B $13.68B $12.72B
Cost of Revenue $2.48B $2.39B $6.84B $6.60B
Selling General & Admin $522.00M $451.00M $1.59B $1.45B
Operating Income $1.70B $1.63B $3.98B $3.48B
Interest Expense $248.00M $603.00M $709.00M $998.00M
Other Income/Expense $-36.00M $-26.00M $-54.00M $-37.00M
Net Income $1.57B $1.11B $3.51B $2.33B
Basic EPS 5.79 4.22 12.97 8.98
Diluted EPS 5.74 4.21 12.83 8.91
Basic Shares Outstanding $272.00M $263.00M $271.00M $259.00M
Diluted Shares Outstanding $274.00M $264.00M $275.00M $280.00M
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Cash & Cash Equivalents $432.00M $388.00M
Accounts Receivable $356.00M $371.00M
Inventory $269.00M $265.00M
Other Current Assets $652.00M $670.00M
Total Current Assets $1.89B $1.71B
Goodwill $808.00M $808.00M
Other Non-current Assets $2.17B $2.05B
Total Assets $40.11B $37.07B
Accounts Payable $828.00M $919.00M
Accrued Liabilities $1.85B $1.64B
Deferred Revenue $5.60B $5.50B
Total Current Liabilities $11.47B $9.82B
Long-term Debt $17.20B $18.47B
Other Non-current Liabilities $536.00M $375.00M
Total Liabilities $29.82B $29.34B
Common Stock $3.00M $3.00M
Retained Earnings $5.44B $2.61B
Total Stockholders Equity $10.09B $7.56B
Total Liabilities & Equity $40.11B $37.07B
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $1.57B $1.11B $3.51B $2.33B
Depreciation & Amortization $435.00M $410.00M $1.26B $1.19B
Stock-based Compensation - - $136.00M $109.00M
Change in Receivables - - $34.00M $13.00M
Change in Inventory - - $4.00M $17.00M
Change in Payables - - $-100.00M $53.00M
Operating Cash Flow - - $4.84B $3.80B
Capital Expenditure - - $3.72B $2.72B
Investing Cash Flow - - $-3.53B $-2.81B
Debt Repayment - - $3.08B $9.97B
Stock Repurchased - - $655.00M -
Dividends Paid - - $552.00M -
Financing Cash Flow - - $-1.27B $-1.07B
Net Change in Cash - - $44.00M $-79.00M

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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