FY2025 · ended Dec 31, 2025 · Revenue $17.93B, +8.8% YoY · Filed Feb 11, 2026
Royal Caribbean Cruises Ltd (RCL) files with the SEC under industry code 4400, Water Transportation. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $17.9 billion and net income of $4.3 billion. Free cash flow was $1.2 billion. As of Sep 30, 2026 it held $851.0 million in cash and investments and $23.2 billion in total debt.
Revenue (TTM)
$19.14B
+9.7% vs year-ago TTM
Net income (TTM)
$4.55B
+12.0% vs year-ago TTM
Operating cash flow (TTM)
$6.90B
+9.3% vs year-ago TTM
Free cash flow (TTM)
$1.51B
-25.8% vs year-ago TTM
EPS (TTM)
$16.89
+14.3% vs year-ago TTM
Dividend per share (TTM)
$5.50
+80.3% vs year-ago TTM
Shares outstanding
270.53M
+0.5% vs prior year
Net cash
$-22.32B
as of Sep 30, 2026
Operating margin
27.6%
FY 2026
Company profile
- Industry
- Water Transportation (SIC 4400)
- Listed as
- RCL (NYSE)
- Fiscal year ends
- December 31
- Headquarters
- Miami, FL
- SEC filer status
- Large accelerated filer
- SEC CIK
- 884887
Other Water Transportation companies
- Carnival Corp Ltd. CCL
- Viking Holdings Ltd VIK
- Norwegian Cruise Line Holdings Ltd. NCLH
- Kirby Corp KEX
- Matson, Inc. MATX
- International Seaways, Inc. INSW
- Golar LNG Ltd GLNG
- Tidewater Inc TDW
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | 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 |
|---|---|---|---|---|---|
| Revenue | $17.9B | $16.5B | $13.9B | $8.8B | $1.5B |
| Operating income | $4.9B | $4.1B | $2.9B | -$766.0M | -$3.9B |
| Net income | $4.3B | $2.9B | $1.7B | -$2.2B | -$5.3B |
| Diluted EPS | $15.61 | $10.94 | $6.31 | -$8.45 | -$20.89 |
| Operating cash flow | $6.5B | $5.3B | $4.5B | $481.0M | -$1.9B |
| Free cash flow | $1.2B | $2.0B | $580.0M | -$2.2B | -$4.1B |
| Total assets | $41.6B | $37.1B | $35.1B | $33.8B | $32.3B |
| Total liabilities | $31.4B | $29.3B | $30.2B | $30.9B | $27.2B |
| Stockholders' equity | $10.0B | $7.6B | $4.7B | $2.9B | $5.1B |
| Cash and investments | $825.0M | $388.0M | $497.0M | $1.9B | $2.7B |
| Total debt | $22.2B | $20.9B | $22.5B | $24.3B | $22.2B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 27, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 27, 2026 | Oct 27, 2026 |
| 8-K |
Current report
Other events
|
Sep 23, 2026 | Sep 23, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
Aug 20, 2026 | Aug 20, 2026 |
| 8-K |
Current report
Material agreement
|
Aug 7, 2026 | Aug 6, 2026 |
| 10-Q | Quarterly report | Jul 28, 2026 | Jun 30, 2026 |
All 1002 Royal Caribbean Cruises Ltd SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.