Royal Caribbean Cruises annual gross margin
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2025
Royal Caribbean Cruises Gross Margin Growth & History (RCL)
Royal Caribbean Cruises's gross margin was 49.36% for fiscal 2025.
View full Royal Caribbean Cruises company overviewRoyal Caribbean Cruises annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 49.36% | +1.84 pp |
| 2024 | 2024-12-31 | 47.51% | +3.45 pp |
| 2023 | 2023-12-31 | 44.06% | +18.91 pp |
| 2022 | 2022-12-31 | 25.16% | +103.94 pp |
| 2021 | 2021-12-31 | −78.79% | −53.60 pp |
| 2020 | 2020-12-31 | −25.19% | −69.82 pp |
| 2019 | 2019-12-31 | 44.64% | +0.06 pp |
| 2018 | 2018-12-31 | 44.57% | +0.36 pp |
| 2017 | 2017-12-31 | 44.22% | +3.25 pp |
| 2016 | 2016-12-31 | 40.97% | +2.41 pp |
| 2015 | 2015-12-31 | 38.55% | +4.28 pp |
| 2014 | 2014-12-31 | 34.28% | +0.93 pp |
| 2013 | 2013-12-31 | 33.35% | +0.43 pp |
| 2012 | 2012-12-31 | 32.92% | −1.51 pp |
| 2011 | 2011-12-31 | 34.42% | +0.45 pp |
| 2010 | 2010-12-31 | 33.98% | +3.10 pp |
| 2009 | 2009-12-31 | 30.88% | −1.71 pp |
| 2008 | 2008-12-31 | 32.59% | — |
Royal Caribbean Cruises quarterly gross margin
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| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 47.29% | −2.40 pp |
| Q1 2026 | 2026-03-31 | 49.53% | +1.52 pp |
| Q4 2025 | 2025-12-31 | 47.36% | +1.96 pp |
| Q3 2025 | 2025-09-30 | 51.76% | +0.70 pp |
| Q2 2025 | 2025-06-30 | 49.69% | +2.05 pp |
| Q1 2025 | 2025-03-31 | 48.01% | +3.16 pp |
| Q4 2024 | 2024-12-31 | 45.40% | +2.14 pp |
| Q3 2024 | 2024-09-30 | 51.06% | +2.43 pp |
| Q2 2024 | 2024-06-30 | 47.64% | +3.13 pp |
| Q1 2024 | 2024-03-31 | 44.85% | +6.98 pp |
| Q4 2023 | 2023-12-31 | 43.26% | +11.81 pp |
| Q3 2023 | 2023-09-30 | 48.63% | +14.33 pp |
| Q2 2023 | 2023-06-30 | 44.51% | +21.42 pp |
| Q1 2023 | 2023-03-31 | 37.87% | +49.74 pp |
| Q4 2022 | 2022-12-31 | 31.45% | +55.36 pp |
| Q3 2022 | 2022-09-30 | 34.30% | +112.37 pp |
| Q2 2022 | 2022-06-30 | 23.09% | +757.50 pp |
| Q1 2022 | 2022-03-31 | −11.87% | +562.88 pp |
| Q4 2021 | 2021-12-31 | −23.92% | +653.11 pp |
| Q3 2021 | 2021-09-30 | −78.07% | — |
| Q2 2021 | 2021-06-30 | −734.41% | −446.94 pp |
| Q1 2021 | 2021-03-31 | −574.74% | −600.42 pp |
| Q4 2020 | 2020-12-31 | −677.02% | −718.17 pp |
| Q2 2020 | 2020-06-30 | −287.47% | −332.44 pp |
| Q1 2020 | 2020-03-31 | 25.68% | −16.38 pp |
| Q4 2019 | 2019-12-31 | 41.15% | −0.52 pp |
| Q3 2019 | 2019-09-30 | 49.07% | −0.45 pp |
| Q2 2019 | 2019-06-30 | 44.97% | +1.20 pp |
| Q1 2019 | 2019-03-31 | 42.06% | +0.05 pp |
| Q4 2018 | 2018-12-31 | 41.67% | −1.17 pp |
| Q3 2018 | 2018-09-30 | 49.53% | +0.83 pp |
| Q2 2018 | 2018-06-30 | 43.77% | +1.02 pp |
| Q1 2018 | 2018-03-31 | 42.00% | +0.54 pp |
| Q4 2017 | 2017-12-31 | 42.84% | +1.66 pp |
| Q3 2017 | 2017-09-30 | 48.70% | +0.97 pp |
| Q2 2017 | 2017-06-30 | 42.75% | +5.00 pp |
| Q1 2017 | 2017-03-31 | 41.46% | +6.20 pp |
| Q4 2016 | 2016-12-31 | 41.18% | +2.87 pp |
| Q3 2016 | 2016-09-30 | 47.73% | +2.70 pp |
| Q2 2016 | 2016-06-30 | 37.75% | +1.70 pp |
| Q1 2016 | 2016-03-31 | 35.26% | +2.60 pp |
| Q4 2015 | 2015-12-31 | 38.31% | +6.79 pp |
| Q3 2015 | 2015-09-30 | 45.03% | +4.76 pp |
| Q2 2015 | 2015-06-30 | 36.04% | +3.25 pp |
| Q1 2015 | 2015-03-31 | 32.66% | +1.76 pp |
| Q4 2014 | 2014-12-31 | 31.53% | +0.70 pp |
| Q3 2014 | 2014-09-30 | 40.27% | +1.55 pp |
| Q2 2014 | 2014-06-30 | 32.80% | +3.10 pp |
| Q1 2014 | 2014-03-31 | 30.90% | −2.01 pp |
| Q4 2013 | 2013-12-31 | 30.82% | +0.47 pp |
| Q3 2013 | 2013-09-30 | 38.71% | −0.73 pp |
| Q2 2013 | 2013-06-30 | 29.70% | +0.87 pp |
| Q1 2013 | 2013-03-31 | 32.91% | +1.33 pp |
| Q4 2012 | 2012-12-31 | 30.35% | +0.81 pp |
| Q3 2012 | 2012-09-30 | 39.44% | −0.04 pp |
| Q2 2012 | 2012-06-30 | 28.83% | −4.12 pp |
| Q1 2012 | 2012-03-31 | 31.58% | −2.56 pp |
| Q4 2011 | 2011-12-31 | 29.54% | −1.46 pp |
| Q3 2011 | 2011-09-30 | 39.48% | −0.36 pp |
| Q2 2011 | 2011-06-30 | 32.95% | +0.76 pp |
| Q1 2011 | 2011-03-31 | 34.15% | +3.16 pp |
| Q4 2010 | 2010-12-31 | 31.01% | +2.46 pp |
| Q3 2010 | 2010-09-30 | 39.84% | +3.13 pp |
| Q2 2010 | 2010-06-30 | 32.19% | +3.75 pp |
| Q1 2010 | 2010-03-31 | 30.99% | +2.83 pp |
| Q4 2009 | 2009-12-31 | 28.55% | — |
| Q3 2009 | 2009-09-30 | 36.71% | — |
| Q2 2009 | 2009-06-30 | 28.43% | — |
| Q1 2009 | 2009-03-31 | 28.16% | — |
Royal Caribbean Cruises gross margin trends
Over the last five fiscal years, Royal Caribbean Cruises's gross margin increased from −25.19% to 49.36%, a change of +74.54 percentage points. The latest reported quarter, Q2 2026, shows 47.29%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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