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Royal Caribbean Group RCL Q4 2025 Annual earnings

Reported January 29, 2026 · Before market open

Revenue$4.3BMiss by $3.2M
EPS$2.80In line
Revenue estimate$4.3B
EPS estimate$2.80

Next report

Oct 27, 2026 (In 3 weeks)
Revenue estimate$5.6B
EPS estimate$6.36

Financials

Q4 2025

Income statement

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Revenue$4.3B+13.3%
Gross profit$2.0B+18.1%
Operating income$933.0M+49.5%
Net income$754.0M+36.6%
EPS (diluted)$2.78+36.9%

Balance sheet

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Cash & equivalents$825.0M+113%
Total debt$22.2B+2,478%
Total equity$10.0B+32.7%
Total assets$41.6B+12.3%

Cash flow

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Operating cash flow$1.6B+10.6%
CapEx$1.5B+173%
Free cash flow$116.0M-87.3%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$76.07B+22.6%
Enterprise value$97.43B+55.9%
P/E17.8×-3.7×
P/S4.2×+0.5×

Profitability

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Gross margin49.4%+1.8pp
Operating margin27.4%+2.5pp
Net margin23.8%+6.3pp

Returns & leverage

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Return on equity48.5%+1.7pp
Debt / equity2.2×+2.1×
Current ratio0.2×0.0×

Segments

By product

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Passenger$2.9B+13.0%

FAQ

When did Royal Caribbean Group report Q4 2025 earnings?
Royal Caribbean Group (RCL) reported Q4 2025 earnings on January 29, 2026 before market open.
What were Royal Caribbean Group's Q4 2025 revenue and EPS?
Royal Caribbean Group reported revenue of $4.3B and eps of $2.80 for Q4 2025.
Did Royal Caribbean Group beat estimates in Q4 2025?
Revenue missed the consensus estimate of $4.3B by $3.2M. EPS beat the consensus estimate of $2.80 by $0.00.
How did Royal Caribbean Group's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.2% from $3.8B a year earlier and eps grew 71.8% from $1.63.
Where can I find Royal Caribbean Group's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000884887-26-000003) and the 10-K periodic report (0000884887-26-000007) directly on SEC EDGAR. The filing index links above go to sec.gov.