Royal Caribbean Cruises Ltd.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.94B | $16.48B | $13.90B | $8.84B | $1.53B | $2.21B | $10.95B | $9.49B |
| Cost of Revenue | $9.08B | $8.65B | $7.78B | $6.62B | $2.74B | $2.77B | $6.06B | $5.26B |
| Gross Profit | $8.85B | $7.83B | $6.13B | $2.22B | $-1.21B | $-556.3M | $4.89B | $4.23B |
| Gross Margin | 49.4% | 47.5% | 44.1% | 25.2% | -78.8% | -25.2% | 44.6% | 44.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $2.22B | $2.13B | $1.79B | $1.58B | $1.37B | $1.20B | $1.56B | $1.30B |
| Operating Income | $4.91B | $4.11B | $2.88B | $-766.0M | $-3.87B | $-4.60B | $2.08B | $1.89B |
| Operating Margin | 27.4% | 24.9% | 20.7% | -8.7% | -252.6% | -208.3% | 19.0% | 20.0% |
| Interest Expense | — | — | $1.40B | $1.36B | $1.29B | $844.2M | $408.5M | $333.7M |
| Pretax Income | $4.37B | $2.94B | $1.71B | — | — | — | — | — |
| Income Tax Expense | $82.0M | $46.0M | $6.0M | $4.0M | $-45.0M | — | — | — |
| Net Income | $4.27B | $2.88B | $1.70B | $-2.16B | $-5.26B | $-5.80B | $1.88B | $1.81B |
| Net Margin | 23.8% | 17.5% | 12.2% | -24.4% | -343.3% | -262.5% | 17.2% | 19.1% |
| EPS (Basic) | $15.75 | $11.00 | $6.63 | $-8.45 | $-20.89 | $-27.05 | $8.97 | $8.60 |
| EPS (Diluted) | $15.61 | $10.94 | $6.31 | $-8.45 | $-20.89 | $-27.05 | $8.95 | $8.56 |
| Shares Outstanding (Basic) | 271.0M | 261.0M | 256.0M | 255.0M | 252.0M | 214.3M | 209.4M | 210.6M |
| Shares Outstanding (Diluted) | 274.0M | 279.0M | 283.0M | 255.0M | 252.0M | 214.3M | 209.9M | 211.6M |
| Dividends Per Share | $3.50 | $0.95 | $0.00 | $0.00 | — | $0.78 | $2.96 | $2.60 |