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Operating Margin for Royal Caribbean Cruises (RCL)

As of · Reported

Metric

TTM

27.9%

YoY change

+2.46pp

Trough year (2021)

-252.6%

Peak year (2025)

27.4%

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

Latest: 27.4%

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

Latest: +2.46pp

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

  • 202527.4%+2.46pp
  • 202424.9%+4.20pp
  • 202320.7%+29.37pp
  • 2022-8.7%+243.95pp
  • 2021-252.6%-44.28pp
  • 2020-208.3%-227.35pp
  • 201919.0%-0.94pp
  • 201820.0%+0.09pp
  • 201719.9%+2.48pp
  • 201617.4%+6.84pp
  • 201510.5%-1.12pp
  • 201411.7%+1.64pp
  • 201310.0%+4.78pp
  • 20125.2%-7.12pp
  • 201112.4%+0.47pp
  • 201011.9%+3.59pp
  • 20098.3%-4.44pp
  • 200812.7%-1.92pp
  • 200714.7%-1.76pp
  • 200616.4%-1.36pp
  • 200517.8%+1.23pp
  • 200416.5%+2.64pp
  • 200313.9%-2.14pp
  • 200216.0%+1.56pp
  • 200114.5%-5.39pp
  • 200019.9%+1.01pp
  • 199918.9%+0.32pp
  • 199818.5%+65.77pp
  • 1997-47.2%-0.26pp
  • 1996-47.0%+0.21pp
  • 1995-47.2%-0.81pp
  • 1994-46.4%-60.88pp
  • 199314.5%+0.86pp
  • 199213.7%+5.20pp
  • 19918.5%—

Operating 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 Operating Margin at Royal Caribbean Cruises (RCL)

According to Royal Caribbean Cruises's latest reported financial statements, the company's latest reported operating margin is 27.9%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

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

2025's annual operating margin for Royal Caribbean Cruises (RCL) came in at 27.37% – expanded 2.5 percentage points year-over-year.

The highest annual operating margin of 27.37% was reported in 2025. The lowest in the available history was -252.61% in 2021.

Royal Caribbean Cruises Operating Margin by Year

Royal Caribbean Cruises Operating Margin 2025: 27.4%

In 2025, Royal Caribbean Cruises reported operating margin of 27.37%, expanded 2.5 percentage points from 2024. This figure represents the highest annual value in the available history.

Royal Caribbean Cruises Operating Margin 2024: 24.9%

Royal Caribbean Cruises operating margin in 2024 was 24.91%, expanded 4.2 percentage points from 2023.

Royal Caribbean Cruises Operating Margin 2023: 20.7%

2023's operating margin for Royal Caribbean Cruises came in at 20.71%, expanded 29.4 percentage points from 2022.

Royal Caribbean Cruises Operating Margin 2022: -8.7%

Royal Caribbean Cruises posted operating margin of -8.67% in 2022, expanded 243.9 percentage points from 2021.

Royal Caribbean Cruises Operating Margin 2021: -252.6%

Royal Caribbean Cruises operating margin in 2021 was -252.61%.

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

Sector peers by Operating Margin

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

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