ROYAL CARIBBEAN CRUISES LTD
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $17.9B | $16.5B | $13.9B | $8.8B | $1.5B |
| Cost of revenue | $9.1B | $8.7B | $7.8B | $6.6B | $2.7B |
| Selling, general & administrative | $2.2B | $2.1B | $1.8B | $1.6B | $1.4B |
| Operating income | $4.9B | $4.1B | $2.9B | -$766.0M | -$3.9B |
| Interest expense | $992.0M | $1.6B | $1.4B | $1.4B | $1.3B |
| Pretax income | $4.0B | $2.9B | $1.7B | — | — |
| Income tax expense | $82.0M | $46.0M | $6.0M | $4.0M | -$45.0M |
| Net income | $4.3B | $2.9B | $1.7B | -$2.2B | -$5.3B |
| Balance Sheet | |||||
| Cash and equivalents | $825.0M | $388.0M | $497.0M | $1.9B | $2.7B |
| Current assets | $2.2B | $1.7B | $1.8B | $3.2B | $3.6B |
| Total assets | $41.6B | $37.1B | $35.1B | $33.8B | $32.3B |
| Current liabilities | $12.1B | $9.8B | $9.4B | $8.6B | $7.3B |
| Total liabilities | $31.4B | $29.3B | $30.2B | $30.9B | $27.2B |
| Total debt | $21.3B | $20.1B | $21.5B | $23.4B | $21.1B |
| Stockholders' equity | $10.0B | $7.6B | $4.7B | $2.9B | $5.1B |
| Cash Flow Statement | |||||
| Cash from operations | $6.5B | $5.3B | $4.5B | $481.0M | -$1.9B |
| Depreciation and amortization | $1.7B | $1.6B | $1.5B | $1.4B | $1.3B |
| Stock-based compensation | $175.0M | $267.0M | $126.0M | $36.0M | $64.0M |
| Capital expenditure | $5.2B | $3.3B | $3.9B | $2.7B | $2.2B |
| Free cash flow | $1.2B | $2.0B | $580.0M | -$2.2B | -$4.1B |
| Dividends paid | $824.0M | $107.0M | $0 | $0 | $0 |
| Share repurchases | $1.2B | $0 | $0 | — | $0 |
| Impairments | — | $576.0M | $576.0M | $576.0M | — |
Shares outstanding 268.2M · Free float 73.1%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.