ROYAL CARIBBEAN CRUISES LTD

Listed Company

RCLCIK 0000884887NYSELarge AcceleratedWater TransportationFY ends Dec 31

Period

FY 2025

Revenue

$17.93B

Net Income

$4.27B

Total Assets

$41.62B

Equity

$10.04B

Shares Out

268.19M

Op. Cash Flow

$6.46B

RCL$287.02−17.64% · past yearDBEQ Basic

Daily closing prices

Business

Royal Caribbean Cruises Ltd. is a cruise vacation operator that owns and operates three global cruise brands—Royal Caribbean, Celebrity Cruises, and Silversea—plus a joint venture interest in TUI Cruises and Hapag-Lloyd Cruises. The company operates a combined fleet of ships offering worldwide itineraries across more than 1,000 destinations and private land-based experiences. Revenue is generated primarily from passenger cruise tickets, supplemented by onboard activities and other services including dining, entertainment, shore excursions, and retail.

Summary from 10-K filed 2026-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	17,935	16,484	13,900	8,840	1,532
Total cruise operating expenses	9,083	8,652	7,775	6,616	2,739
Marketing, selling and administrative expenses	2,223	2,125	1,792	1,583	1,370
Depreciation and amortization expenses	1,718	1,600	1,455	1,407	1,293
Operating Income	4,910	4,106	2,878	−766	−3,870
Interest income	24	16	36	36	17
Interest expense, net of interest capitalized	−992	−1,590	−1,402	−1,364	—
Equity investment income	414	260	200	57	−135
Other income (expense)	17	149	−2	−119	20
Income before income taxes	4,373	2,941	1,711	—	—
Provision for income taxes	−82	−46	−6	—	—
Net Income	4,291	2,896	1,704	−2,156	−5,260
Less: Net Income attributable to noncontrolling interest	23	18	7	0	0
Net Income attributable to Royal Caribbean Cruises Ltd.	4,268	2,877	1,697	−2,156	−5,260
Basic (in dollars per share)	15.75	11	6.63	−8.45	−20.89
Diluted (in dollars per share)	15.61	10.94	6.31	−8.45	−20.89
Foreign currency translation adjustments	−26	17	−9	10	16
Change in defined benefit plans	−4	12	6	49	9
Gain (loss) on cash flow derivative hedges	228	−157	−27	8	4
Total other comprehensive income (loss)	198	−128	−30	67	29
Comprehensive Income	4,489	2,768	1,674	−2,089	−5,231
Less: Comprehensive Income attributable to noncontrolling interest	23	18	7	0	0
Comprehensive Income attributable to Royal Caribbean Cruises Ltd.	4,466	2,750	1,667	−2,089	−5,231

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	825	388	497	1,935	2,702
Trade and other receivables, net	317	371	405	531	408
Inventories	264	265	248	224	150
Prepaid expenses and other assets	690	670	617	456	286
Derivative financial instruments	115	11	25	59	54
Total current assets	2,211	1,705	1,792	3,205	3,600
Property and equipment, net	35,696	31,831	30,114	27,546	25,908
Operating lease right-of-use assets	620	677	611	538	542
Goodwill	808	808	809	809	809
Other assets	2,284	2,049	1,805	1,678	1,399
Total assets	41,619	37,070	35,131	33,776	32,258
Current portion of long-term debt	3,180	1,603	1,720	2,088	2,243
Current portion of operating lease liabilities	90	74	65	80	69
Accounts payable	953	919	792	647	546
Accrued expenses and other liabilities	2,026	1,635	1,478	1,459	888
Derivative financial instruments	67	90	35	131	127
Customer deposits	5,739	5,496	5,311	4,168	3,161
Total current liabilities	12,055	9,817	9,401	8,573	7,286
Long-term debt	18,165	18,473	19,732	21,303	18,847
Long-term operating lease liabilities	600	670	613	523	535
Other long-term liabilities	554	375	486	508	505
Total liabilities	31,374	29,335	30,232	30,907	27,173
Commitments and Contingencies (Note 17)	—	—	—	—	—
Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding)	0	0	0	0	0
Common stock ($0.01 par value; 500,000,000 shares authorized; 303,054,848 and 297,368,235 shares issued, December 31, 2025 and December 31, 2024, respectively)	3	3	3	3	3
Paid-in capital	7,964	7,831	7,474	7,285	7,557
Retained earnings	5,925	2,612	−10	−1,707	302
Accumulated other comprehensive loss	−604	−802	−674	−644	−711
Treasury stock (32,631,826 and 28,468,430 common shares at cost, December 31, 2025 and December 31, 2024, respectively)	−3,251	−2,081	−2,069	−2,068	−2,066
Total shareholders equity attributable to Royal Caribbean Cruises Ltd.	10,037	7,563	4,724	2,869	5,086
Noncontrolling Interest	208	172	175	0	—
Total shareholders' equity	10,245	7,735	4,899	2,869	5,087
Total liabilities and shareholders equity	41,619	37,070	35,131	33,776	32,258

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net deferred income tax expense (benefit)	18	0	−8	−22	−43
(Gain) loss on derivative instruments not designated as hedges	−49	77	−19	100	−1
Share-based compensation expense	175	267	126	36	64
Amortization of debt issuance costs, discounts and premiums	97	98	109	163	249
Loss on extinguishment of debt and inducement expense	16	463	121	94	—
(Increase) decrease in trade and other receivables	−3	52	99	−234	−182
Increase in inventories, net	0	−17	−24	−74	−35
Increase in prepaid expenses and other assets	−100	−137	−184	−153	−152
Increase in accounts payable	27	120	124	75	189
Increase in accrued expenses and other liabilities	216	0	13	352	233
Increase in customer deposits	243	186	1,143	1,007	1,427
Dividends received from unconsolidated affiliates	264	29	11	—	—
Other, net	−34	−109	7	−57	66
Net cash provided by operating activities	6,465	5,265	4,477	481	−1,878
Purchases of property and equipment	−5,229	−3,268	−3,897	−2,710	−2,230
Cash received on settlement of derivative financial instruments	200	14	35	53	44
Cash paid on settlement of derivative financial instruments	−24	−130	−86	−356	−74
Investments in and loans to unconsolidated affiliates	−106	−67	−31	0	−70
Cash received on loans to unconsolidated affiliates	126	18	40	19	31
Other, net	21	−13	16	7	−22
Net cash used in investing activities	−5,012	−3,446	−3,923	−2,987	−2,145
Debt proceeds	4,671	10,318	7,641	9,787	4,468
Debt issuance costs	−118	−133	−194	−252	−202
Repayments of debt	−3,534	−11,651	−9,566	−7,729	−2,297
Premium on repayment of debt	−2	−292	−80	−49	−135
Repurchase of common stock	−1,159	0	0	—	0
Dividends paid	−824	−107	0	0	0
Proceeds from sale of noncontrolling interest	0	0	209	0	0
Other, net	−52	−57	−3	−16	0
Net cash used in financing activities	−1,018	−1,922	−1,993	1,741	3,041
Effect of exchange rate changes on cash and cash equivalents	2	−6	1	−2	−727,000
Net increase (decrease) in cash and cash equivalents	437	−109	−1,438	−767	−982
Interest, net of amount capitalized	864	1,210	1,442	960	834
Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities	72	47	50	34	14
Non-cash inducement on convertible notes exchange	7	104	0	0	—

Filings

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Frequently asked questions

What is ROYAL CARIBBEAN CRUISES LTD's CIK number?

ROYAL CARIBBEAN CRUISES LTD's SEC CIK number is 0000884887 (884887). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ROYAL CARIBBEAN CRUISES LTD's SEC filings?

All of ROYAL CARIBBEAN CRUISES LTD's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ROYAL CARIBBEAN CRUISES LTD last report earnings?

ROYAL CARIBBEAN CRUISES LTD (RCL) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000884887-26-000024). This is ROYAL CARIBBEAN CRUISES LTD's most recent earnings filing of record — not a forecast of its next earnings date.

What is ROYAL CARIBBEAN CRUISES LTD's most recent earnings 8-K?

ROYAL CARIBBEAN CRUISES LTD's latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0000884887-26-000024. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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