Royal Caribbean Cruises Ltd. (RCL) Earnings History
Profitable35 years of earnings data (1991–2025) · Positive TTM net income
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Royal Caribbean Cruises Ltd. (RCL) Earnings Overview
As of July 7, 2026, Royal Caribbean Cruises Ltd. (RCL) reported trailing twelve-month net income of $4.48B, reflecting +42.7% year-over-year growth. The company earned $16.55 per diluted share over the past four quarters, with a net profit margin of 23.8%.
Looking at the long-term picture, RCL's historical earnings data spans multiple years. The company achieved its highest annual net income of $4.27B in fiscal 2025, representing a new all-time high.
Royal Caribbean Cruises Ltd. maintains industry-leading profitability with a gross margin of 46.8%, operating margin of 27.4%, and net margin of 23.8%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including CCL ($3.07B net income, 10.4% margin), NCLH ($568M net income, 4.3% margin), VIK ($1.20B net income, 17.7% margin), RCL has outperformed on profitability metrics. Compare RCL vs CCL →
RCL Earnings vs Peers
Earnings metrics vs comparable public companies
RCL Historical Earnings Data (1991–2025)
35 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.27B | +48.5% | $4.91B | $15.61 | 23.8% | 27.4% |
| 2024 | $2.88B | +69.5% | $4.11B | $10.94 | 17.5% | 24.9% |
| 2023 | $1.70B | +178.7% | $2.88B | $6.31 | 12.2% | 20.7% |
| 2022 | -$2.16B | +59.0% | -$766M | $-8.45 | -24.4% | -8.7% |
| 2021 | -$5.26B | +9.3% | -$3.87B | $-20.89 | -343.3% | -252.6% |
| 2020 | -$5.80B | -408.6% | -$4.60B | $-27.05 | -262.5% | -208.3% |
| 2019 | $1.88B | +3.7% | $2.08B | $8.95 | 17.2% | 19.0% |
| 2018 | $1.81B | +11.4% | $1.89B | $8.56 | 19.1% | 20.0% |
| 2017 | $1.63B | +26.6% | $1.74B | $7.53 | 18.5% | 19.9% |
| 2016 | $1.28B | +92.8% | $1.48B | $5.93 | 15.1% | 17.4% |
| 2015 | $666M | -12.9% | $875M | $3.02 | 8.0% | 10.5% |
| 2014 | $764M | +61.3% | $942M | $3.43 | 9.5% | 11.7% |
| 2013 | $474M | +2490.3% | $798M | $2.14 | 6.0% | 10.0% |
| 2012 | $18M | -97.0% | $403M | $0.08 | 0.2% | 5.2% |
| 2011 | $607M | +17.8% | $932M | $2.77 | 8.1% | 12.4% |
| 2010 | $516M | +217.5% | $803M | $2.51 | 7.6% | 11.9% |
| 2009 | $162M | -71.7% | $489M | $0.75 | 2.8% | 8.3% |
| 2008 | $574M | -4.9% | $832M | $2.68 | 8.8% | 12.7% |
| 2007 | $603M | -4.8% | $901M | $2.82 | 9.8% | 14.7% |
| 2006 | $634M | -11.5% | $858M | $2.94 | 12.1% | 16.4% |
| 2005 | $716M | +50.8% | $872M | $3.26 | 14.6% | 17.8% |
| 2004 | $475M | +69.1% | $754M | $2.26 | 10.4% | 16.5% |
| 2003 | $281M | -20.1% | $526M | $1.42 | 7.4% | 13.9% |
| 2002 | $351M | +38.1% | $551M | $1.79 | 10.2% | 16.0% |
| 2001 | $254M | -42.9% | $456M | $1.32 | 8.1% | 14.5% |
| 2000 | $445M | +16.0% | $570M | $2.31 | 15.5% | 19.9% |
| 1999 | $384M | +16.0% | $480M | $2.06 | 15.1% | 18.9% |
| 1998 | $331M | +88.9% | $489M | $1.83 | 12.5% | 18.5% |
| 1997 | $175M | +16.0% | -$916M | $1.14 | 9.0% | -47.2% |
| 1996 | $151M | +1.3% | -$638M | $1.18 | 11.1% | -47.0% |
| 1995 | $149M | +9.1% | -$559M | $1.17 | 12.6% | -47.2% |
| 1994 | $137M | +28.0% | -$543M | $1.08 | 11.7% | -46.4% |
| 1993 | $107M | +76.1% | $162M | $0.90 | 9.6% | 14.5% |
| 1992 | $61M | +1309.3% | $138M | $0.59 | 6.0% | 13.7% |
| 1991 | $4M | - | $64M | $0.04 | 0.6% | 8.5% |
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RCL — Frequently Asked Questions
Quick answers to the most common questions about buying RCL stock.
What is RCL earnings per share (EPS)?
RCL trailing twelve-month (TTM) diluted EPS is $16.55, reflecting +42.7% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1991 to 2025 is available in the table on this page.
What is Royal Caribbean Cruises Ltd.'s net income?
Royal Caribbean Cruises Ltd. (RCL) trailing twelve-month net income is $4.5B as of 2025. Earnings grew +42.7% year-over-year. Royal Caribbean Cruises Ltd. has been profitable for 3 consecutive years.
Is RCL profitable?
Yes, RCL is profitable with a TTM net income of $4.5B and a net profit margin of +23.8%. Royal Caribbean Cruises Ltd. has generated profits for 3 consecutive years.
What is RCL's earnings growth rate?
RCL compound annual EPS growth rates (CAGR): 1-Year: +42.7%, 3-Year: N/A, 5-Year: N/A, 10-Year: +17.9%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1991 to 2025.
What are RCL's profit margins?
Royal Caribbean Cruises Ltd. net profit margin is +23.8%, operating margin is +27.4%, and gross margin is +46.8%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +47.5%.
Is RCL growing earnings?
Yes, RCL earnings are accelerating — EPS growth of +42.7% exceeds the 5-year CAGR of N/A. TTM net income reached $4.5B. Earnings momentum is strengthening.
What was RCL's best earnings year?
Royal Caribbean Cruises Ltd.'s highest annual net income on record is $4.3B, achieved in fiscal year 2025. Earnings history on this page spans 1991 to 2025 and includes all annual and quarterly figures.
What were RCL's earnings last quarter?
RCL's most recent reported quarter was Q1 2026. Net income was $941M with diluted EPS of $3.48. For a full breakdown of all quarters, see the quarterly earnings table on this page.