Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.50B | $8.78B | $9.49B | $11.0B | $2.21B | $1.53B | $8.84B | $13.9B | $16.5B | $17.9B |
| Revenue growth | — | 3.3% | 8.2% | 15.3% | -79.8% | -30.6% | 477.0% | 57.2% | 18.6% | 8.8% |
| Operating income | $1.48B | $1.74B | $1.89B | $2.08B | -$4.60B | -$3.87B | -$766M | $2.88B | $4.11B | $4.91B |
| Operating margin | 17.4% | 19.9% | 20.0% | 19.0% | -208.3% | -252.6% | -8.7% | 20.7% | 24.9% | 27.4% |
| Net income | $1.28B | $1.63B | $1.81B | $1.88B | -$5.80B | -$5.26B | -$2.16B | $1.70B | $2.88B | $4.27B |
| Net margin | 15.1% | 18.5% | 19.1% | 17.2% | -262.5% | -343.3% | -24.4% | 12.2% | 17.5% | 23.8% |
| EPS (diluted) | $5.93 | $7.53 | $8.56 | $8.95 | -$27.05 | -$20.89 | -$8.45 | $6.31 | $10.94 | $15.61 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.52B | $2.87B | $3.48B | $3.72B | -$3.73B | -$1.88B | $481M | $4.48B | $5.26B | $6.46B |
| Capital expenditures | $2.49B | $564M | $3.66B | $3.02B | $1.97B | $2.23B | $2.71B | $3.90B | $3.27B | $5.23B |
| Free cash flow | $22.3M | $2.31B | -$181M | $692M | -$5.70B | -$4.11B | -$2.23B | $580M | $2.00B | $1.24B |
| Share buybacks | $300M | $225M | $575M | $99.6M | $0.00 | $0.00 | — | $0.00 | $0.00 | $1.16B |
| Dividends paid | $346M | $437M | $527M | $603M | $326M | $0.00 | $0.00 | $0.00 | $107M | $824M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $133M | $120M | $288M | $244M | $3.68B | $2.70B | $1.94B | $497M | $388M | $825M |
| Total assets | $22.3B | $22.4B | $27.7B | $30.3B | $32.5B | $32.3B | $33.8B | $35.1B | $37.1B | $41.6B |
| Total liabilities | — | $11.7B | $16.1B | $17.6B | $23.7B | $27.2B | $30.9B | $30.2B | $29.3B | $31.4B |
| Shareholders' equity | $9.12B | $10.7B | $11.1B | $12.2B | $8.76B | $5.09B | $2.87B | $4.72B | $7.56B | $10.0B |
| Retained earnings | $7.86B | $9.02B | $10.3B | $11.5B | $5.56B | $302M | -$1.71B | -$10.0M | $2.61B | $5.92B |
| Shares (wtd avg diluted) | 216M | 216M | 212M | 210M | 214M | 252M | 255M | 283M | 279M | 274M |
Every figure is extracted from ROYAL CARIBBEAN CRUISES LTD’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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