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EBITDA Margin for Royal Caribbean Cruises (RCL)

As of · Reported

Metric

TTM

38.8%

YoY change

+1.60pp

Trough year (2021)

-174.6%

Peak year (2025)

38.5%

EBITDA Margin history chart for Royal Caribbean Cruises (RCL) from 1991 to 2025

Latest: 38.5%

EBITDA Margin change chart for Royal Caribbean Cruises (RCL) from 1991 to 2025

Latest: +1.60pp

EBITDA Margin history table for Royal Caribbean Cruises (RCL) from 1991 to 2025

  • 202538.5%+1.60pp
  • 202436.9%+4.11pp
  • 202332.8%+25.86pp
  • 20227.0%+181.57pp
  • 2021-174.6%-9.29pp
  • 2020-165.3%-197.85pp
  • 201932.5%-1.00pp
  • 201833.5%+0.76pp
  • 201732.8%+3.51pp
  • 201629.3%+7.92pp
  • 201521.3%-0.90pp
  • 201422.2%+2.62pp
  • 201319.6%+5.24pp
  • 201214.4%-8.08pp
  • 201122.5%-0.21pp
  • 201022.7%+4.73pp
  • 200917.9%-2.76pp
  • 200820.7%-1.81pp
  • 200722.5%-1.96pp
  • 200624.5%-1.50pp
  • 200526.0%+0.78pp
  • 200425.2%+1.71pp
  • 200323.5%-2.43pp
  • 200225.9%+1.86pp
  • 200124.1%-3.87pp
  • 200027.9%+1.30pp
  • 199926.6%+0.71pp
  • 199825.9%+65.74pp
  • 1997-39.8%+0.43pp
  • 1996-40.2%+0.16pp
  • 1995-40.4%-0.69pp
  • 1994-39.7%-62.01pp
  • 199322.3%+0.93pp
  • 199221.4%+5.32pp
  • 199116.0%—

EBITDA Margin values are taken from Royal Caribbean Cruises's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Royal Caribbean Cruises (RCL)

According to Royal Caribbean Cruises's latest reported financial statements, the company's latest reported EBITDA margin is 38.8%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual EBITDA margin for Royal Caribbean Cruises (RCL) came in at 38.52% – expanded 1.6 percentage points year-over-year.

38.52% stands as the all-time-high annual EBITDA margin, posted in 2025, against a low of -174.61% during 2021.

Royal Caribbean Cruises EBITDA Margin by Year

Royal Caribbean Cruises EBITDA Margin 2025: 38.5%

In 2025, Royal Caribbean Cruises reported EBITDA margin of 38.52%, expanded 1.6 percentage points from 2024. This figure represents the highest annual value in the available history.

Royal Caribbean Cruises EBITDA Margin 2024: 36.9%

Royal Caribbean Cruises EBITDA margin in 2024 was 36.92%, expanded 4.1 percentage points from 2023.

Royal Caribbean Cruises EBITDA Margin 2023: 32.8%

2023's EBITDA margin for Royal Caribbean Cruises came in at 32.81%, expanded 25.9 percentage points from 2022.

Royal Caribbean Cruises EBITDA Margin 2022: 7.0%

Royal Caribbean Cruises posted EBITDA margin of 6.96% in 2022, expanded 181.6 percentage points from 2021.

Royal Caribbean Cruises EBITDA Margin 2021: -174.6%

Royal Caribbean Cruises EBITDA margin in 2021 was -174.61%.

See more financial history for Royal Caribbean Cruises (RCL).

Sector peers by EBITDA Margin

Consumer Cyclical peers of Royal Caribbean Cruises (RCL), ranked by their latest EBITDA margin

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