Summary
Royal Caribbean Cruises Ltd. (RCL) reported a strong financial performance for the year ended December 31, 2025. The company saw significant growth in total revenues, reaching $17.9 billion, an increase driven by robust ticket sales and enhanced onboard revenue performance. This growth was supported by capacity expansion, including the delivery of two new ships, Star of the Seas and Celebrity Xcel, and the continued development of its private destination portfolio. RCL achieved a Net Income of $4.3 billion and an Adjusted EBITDA of $7.0 billion, demonstrating solid profitability. The company also maintained a strong balance sheet and returned $2.0 billion to shareholders through dividends and share repurchases. The company is strategically investing in fleet modernization and expansion, with 12 ships on order, including new classes of ships and an expansion into river cruising. RCL is also focused on sustainability initiatives, aiming for net-zero emissions by 2050. Despite ongoing global economic uncertainties and regulatory developments, RCL's diversified brand portfolio, focus on innovation, and strategic investments in guest experiences position it for continued growth.
Financial Highlights
52 data points| Revenue | $17.93B |
| Cost of Revenue | $9.08B |
| Gross Profit | $8.85B |
| SG&A Expenses | $2.22B |
| Operating Income | $4.91B |
| Net Income | $4.27B |
| EPS (Basic) | $15.75 |
| EPS (Diluted) | $15.61 |
| Shares Outstanding (Basic) | 271.00M |
| Shares Outstanding (Diluted) | 274.00M |
Key Highlights
- 1Total revenues reached a record $17.9 billion, up 8.8% from the previous year, driven by strong ticket and onboard revenues.
- 2Net Income attributable to Royal Caribbean Cruises Ltd. was $4.3 billion, a significant increase from $2.9 billion in 2024, with Adjusted Net Income also showing strong growth.
- 3The company took delivery of two new ships: Star of the Seas and Celebrity Xcel, further expanding its fleet capacity and product offerings.
- 4RCL expanded its private destination portfolio with the opening of Royal Beach Club Paradise Island and the acquisition of Port of Costa Maya.
- 5The company declared and paid a growing quarterly dividend, returning $2.0 billion to shareholders through dividends and share repurchases.
- 6Capacity increased by 5.5% with new ship deliveries, contributing to yield growth and higher occupancy rates (109.7%).
- 7Strategic investments in fleet expansion continue, with 12 ships on order, including new generation and river cruise vessels.