Royal Caribbean
Financial Performance
Royal Caribbean Revenue & Financials
Revenue
$16.7B (FY2024)
Market Cap
$55B
Net Income
$2.8B
Employees
98,000
What is Royal Caribbean's revenue?
Royal Caribbean had $16.7B in revenue for fiscal year 2024, up 20.4% from 2023. Net income was $2.8B.
- Latest revenue
- $16.7B (FY2024)
- Year-over-year
- +20.4%
- Growth rate (CAGR)
- 7.7% over 9 years
- Peak revenue
- $16.7B (FY2024)
- Years of data
- 10
- Employees
- 98,000
- What is Royal Caribbean's operating income?
- Royal Caribbean reported operating income of $3.8B for fiscal year 2024. sec.gov
- How much profit does Royal Caribbean make?
- Royal Caribbean reported net income of $2.8B for fiscal year 2024. sec.gov
- How many employees does Royal Caribbean have?
- Royal Caribbean has about 98,000 employees.
Financial Analysis
Royal Caribbean Group demonstrates the most powerful financial performance and highest return on invested capital in the global cruise sector. In fiscal year 2024, Royal Caribbean generated record consolidated revenue of $15.80 billion, up 27% year-over-year. Operating income rose to $3.6 billion, with GAAP net income surging to $2.80 billion ($10.40 diluted EPS). Adjusted EBITDA reached $4.5 billion, with operating cash flow exceeding $4.3 billion. Driven by this cash flow torrent, Royal Caribbean reinstated its quarterly cash dividend, achieved investment-grade credit rating upgrades from Moody's and S&P, and saw its market capitalization surpass $55 billion—more than double the equity value of larger-fleet rival Carnival.
Revenue Trend Analysis
YoY Change
+20.4%
9-Year CAGR
+7.7%
Peak Year
2024
Trend
Consistent Growth
Royal Caribbean has 10 full fiscal year figures on this page, compounding at +7.7% annually over 9 years. The most recent year saw a 20.4% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $16.7B. Of 9 comparable year-over-year steps, 7 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2024 | $16.7B | $3.8B | $2.8B | +20.4% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2024) Fiscal year ended December 31, 2024. Record revenue of $16.74B and net margin of 16.97%. |
| FY2023 | $13.9B | $2.9B | $1.7B | +57.2% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2023) Fiscal year ended December 31, 2023. Robust return to profitability with net income of $1.70B. |
| FY2022 | $8.8B | -$750M | -$2.2B | +477.0% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2022) Fiscal year ended December 31, 2022. Full fleet returned to operational service; Jason Liberty assumed CEO role. |
| FY2021 | $1.5B | -$3.6B | -$5.3B | -30.6% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2021) Fiscal year ended December 31, 2021. Phased resumption of revenue sailing under strict health protocols. |
| FY2020 | $2.2B | -$4.3B | -$5.8B | -79.8% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2020) Fiscal year ended December 31, 2020. Global cruising operations suspended from mid-March due to COVID-19. |
| FY2019 | $11B | $2.1B | $1.9B | +15.0% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2019) Fiscal year ended December 31, 2019. Launch of transformed Perfect Day at CocoCay driving record yields. |
| FY2018 | $9.5B | $1.9B | $1.8B | +8.9% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2018) Fiscal year ended December 31, 2018. Silversea Cruises acquisition closed in July 2018. |
| FY2017 | $8.7B | $1.7B | $1.6B | +1.0% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2017) Fiscal year ended December 31, 2017. Achieved Double-Double financial targets ahead of schedule. |
| FY2016 | $8.7B | $1.5B | $1.3B | +0.5% | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2016) Fiscal year ended December 31, 2016. Net income surpassed $1.2B driven by Harmony of the Seas debut. |
| FY2015 | $8.6B | $950M | $666M | — | Royal Caribbean Cruises Ltd. Form 10-K filed with the SEC (FY2015) Fiscal year ended December 31, 2015. Double-Double cost and yield program initiated. |
Click any row to see year details.
Keep researching Royal Caribbean
Royal Caribbean Revenue and Financial FAQ
What was Royal Caribbean's latest reported annual revenue?
In its latest audited financial reporting period, Royal Caribbean recorded consolidated net revenue of $15.8B, demonstrating durable revenue growth across its primary operating divisions.
How profitable is Royal Caribbean?
Royal Caribbean generates industry-leading profitability, combining disciplined cost management with high gross margins to deliver substantial net earnings and superior return on equity (ROE) throughout changing economic cycles.
What is Royal Caribbean's capital and liquidity position?
Royal Caribbean maintains a fortress balance sheet equipped with ample liquid cash reserves, conservative debt leverage, and capital adequacy ratios that provide substantial safety margins above statutory regulatory requirements.
Does Royal Caribbean distribute capital to shareholders?
Royal Caribbean executes a disciplined capital allocation strategy that balances internal reinvestment into digital innovation and strategic growth with sustainable ordinary dividends and accretive share repurchase programs.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Royal Caribbean Revenue & Financials." CorpDigest, https://corpdigest.com/company/royal-caribbean/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Royal Caribbean reported $16.7B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/royal-caribbean/financials" target="_blank" rel="noopener">CorpDigest — Royal Caribbean financials</a></div>Related Financial Audits
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