Royal Caribbean Group

Consumer Discretionary Hotels, Resorts & Cruise Lines Miami, Florida Last filing Feb 11, 2026 · FY2025

                    Revenue
                    FY2025
                
$17.9B
                    3y CAGR +26.6%
                    
                    P91
                    
                    +8.8%
                    
                    Net income
                    FY2025
                
$4.3B
                    Net margin +23.8%
                    
                    P98
                    
                    +48.3%
                    
                    Total assets
                    FY2025
                
$41.6B
                    ROA +10.3%
                    
                    P56
                    
                    +12.3%
                    
                    Operating cash flow
                    FY2025
                
$6.5B
                    FCF margin +6.9%
                    
                    P30
                    
                    +22.8%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 5 years

Total assets $41.6B

Total liabilities $31.4B

Shareholders equity $10.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-25.7%	-47.6%	-57.1%	-28.4%	—
Accounts Receivable	-6.1%	-3.1%	-0.4%	+30.1%	—
Inventory	+15.1%	+20.8%	+28.5%	+49.1%	—
Prepaid Expenses	+24.6%	+32.8%	+46.9%	+59.4%	—
Other Current Assets	+24.6%	+32.8%	+46.9%	+59.4%	—
Total Current Assets	-11.5%	-22.1%	-29.4%	-11.0%	—
Property,Plant and Equipment	+8.3%	+7.1%	+7.8%	+6.3%	—
Operating Lease Assets	+3.4%	+7.7%	+6.2%	-0.8%	—
Goodwill	-0.0%	-0.1%	-0.0%	-0.0%	—
Intangible Assets	—	-2.4%	-1.9%	-1.9%	—
Other Noncurrent Assets	+13.0%	+13.6%	+13.6%	+20.0%	—
Total Assets	+6.6%	+4.7%	+4.4%	+4.7%	—
Liabilities
Accounts Payable	+14.9%	+19.0%	+20.4%	+18.5%	—
Accrued Liabilities	+22.9%	+22.6%	+29.0%	+20.7%	—
Deferred Revenue	+16.1%	+20.2%	+29.6%	+31.9%	—
Current Portion of Long Term Debt	+9.1%	-10.6%	-12.4%	-6.9%	—
Operating Lease Liabilities	+6.9%	+2.4%	-2.9%	+15.7%	—
Other Current Liabilities	+2.3%	-9.5%	-1.9%	+0.5%	—
Total Current Liabilities	+13.4%	+10.5%	+13.6%	+17.7%	—
Long Term Debt	+0.3%	-1.6%	+0.9%	+10.9%	—
Operating Lease Liabilities Noncurrent	+2.9%	+7.8%	+7.1%	-2.2%	—
Other Noncurrent Liabilities	+2.3%	-9.5%	-1.9%	+0.5%	—
Total Liabilities	+3.7%	+2.6%	+5.5%	+13.7%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	+1.5%	+2.0%	+3.0%	+0.2%	—
Additional Paid In Capital	+1.3%	+1.2%	-0.6%	-3.6%	—
Retained Earnings	+110.4%	+105.2%	—	—	—
Treasury Stock	-13.3%	-82.0%	-97.8%	-99.9%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Noncontrolling Interest	—	—	—	—	—
Total Stockholders Equity	+18.5%	+14.1%	-3.6%	-43.6%	—
Total Liabilitiesand Equity	+6.6%	+4.7%	+4.4%	+4.7%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $17.9B

Operating income $4.9B

Net income $4.3B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+85.0%	+120.8%	+201.2%	+477.0%	—
Expenses Cost of Revenue	+34.9%	+46.7%	+68.5%	+141.5%	—
Expenses Selling,General and Administrative	+12.9%	+15.8%	+14.4%	+15.5%	—
Expenses Depreciation and Amortization	+7.4%	+7.4%	+6.1%	+8.8%	—
Expenses Share Based Compensation	+28.6%	+61.0%	+40.3%	-43.8%	—
Other Income Expense Operating Income	—	—	—	—	—
Other Income Expense Interest Expense	-71.9%	-71.5%	+4.2%	+5.6%	—
Other Income Expense Other Income/expense	-4.0%	+95.3%	—	—	—
Other Income Expense Income Before Tax	—	—	—	—	—
Income Tax Income Tax Expense	—	—	—	—	—
net Income net Income	—	—	—	—	—
net Income Comprehensive Income	—	—	—	—	—
Earnings Per Share Basic Eps	—	—	—	—	—
Earnings Per Share Diluted Eps	—	—	—	—	—
Earnings Per Share Weighted Average Shares Basic	+1.8%	+1.2%	+0.8%	+1.2%	—
Earnings Per Share Weighted Average Shares Diluted	+2.1%	+3.5%	+6.0%	+1.2%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $6.5B

Investing cash flow $-5.0B

Financing cash flow $-1.0B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	—	—	—	—	—
Operating Activities Depreciation and Amortization	+7.4%	+7.4%	+6.1%	+8.8%	—
Operating Activities Stock Based Compensation	+28.6%	+61.0%	+40.3%	-43.8%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-32.7%	-36.6%	-9.6%	-27.4%	—
Operating Activities net Cash From Operating Activities	—	—	—	—	—
Investing Activities Capital Expenditures	+23.7%	+13.6%	+32.2%	+21.5%	—
Investing Activities Other Investing Activities	—	-16.1%	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	+1.1%	+32.2%	+30.8%	+119.0%	—
Financing Activities Repayment of Debt	+11.4%	+71.8%	+104.1%	+236.5%	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—
Financing Activities Dividends Paid	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	-42.7%	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	-25.7%	-47.6%	-57.1%	-28.4%	—
Cash Reconciliation Cash At End of Period	-25.7%	-47.6%	-57.1%	-28.4%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+49.4%	+47.5%	+44.1%	+25.2%	-78.8%
Operating margin	+27.4%	+24.9%	+20.7%	-8.7%	-252.6%
Net margin	+23.8%	+17.5%	+12.2%	-24.4%	-343.3%
FCF margin	+6.9%	+12.1%	+4.2%	-25.2%	-268.1%
Growth
Revenue CAGR (3y)	+26.6%	+120.8%	+84.6%	-6.9%	-45.6%
Returns
ROE	+42.5%	+38.0%	+35.9%	-75.2%	-103.4%
ROA	+10.3%	+7.8%	+4.8%	-6.4%	-16.3%
ROIC	+14.3%	+14.0%	+10.5%	-2.9%	-15.0%
Liquidity
Current ratio	0.18x	0.17x	0.19x	0.37x	0.49x
Quick ratio	0.09x	0.08x	0.10x	0.29x	0.43x
Leverage
D/E	3.13x	3.88x	6.40x	10.77x	5.34x
Interest coverage	613.75x	136.87x	2.05x	-0.56x	-3.00x
Efficiency
Asset turnover	0.43x	0.44x	0.40x	0.26x	0.05x
Cash conversion cycle	-21d	-19d	-15d	-1d	+44d

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Royal Caribbean Group

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