Royal Caribbean Cruises (RCL) Cost of Revenue (2009 - 2026)
Royal Caribbean Cruises' Cost of Revenue was $2.55 billion in Q2 2026, up 11.6% from $2.28 billion a year earlier and up 13.4% from the prior quarter.
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Analysis
Royal Caribbean Cruises (RCL) Cost of Revenue (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Royal Caribbean Cruises' Cost of Revenue was $9.52 billion through Jun 30, 2026, up 8.1% year-over-year; for FY2025, it came in at $9.08 billion, up 5.0% from FY2024.
- Cost of Revenue has now increased for four consecutive years, with a five-year compound annual growth rate of 26.9% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $8.65 billion in FY2024 (+11.3%), $7.78 billion in FY2023 (+17.5%), $6.62 billion in FY2022 (+141.5%) and $2.74 billion in FY2021 (-0.9%).
- The Q2 2026 figure marks the highest quarterly Cost of Revenue in data going back to Q1 2009.
- Compared with a year earlier, Cost of Revenue has increased for 20 straight quarters, with growth averaging 7.5% over the last eight quarters.
- The year-over-year growth in Cost of Revenue has ranged between 1.1% (Q1 2025) and 358.8% (Q4 2021) over the last five years.
- Per Business Quant data, RCL's Cost of Revenue in the three quarters before Q2 2026 was $2.25 billion (Q1 2026), $2.24 billion (Q4 2025) and $2.48 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.50 Bn | 91.55 Bn | 1.55 Bn | 5.52 Bn |
| 2 | Hilton Worldwide Holdings | 72.30 Bn | 68.78 Bn | 3.08 Bn | 266.00 Mn |
| 3 | Royal Caribbean Cruises | 64.91 Bn | 62.49 Bn | 2.29 Bn | 2.55 Bn |
| 4 | Viking Holdings | 35.75 Bn | 20.87 Bn | 996.62 Mn | 1.19 Bn |
| 5 | Carnival | 30.35 Bn | 23.01 Bn | - | - |
| 6 | Intercontinental Hotels | 26.52 Bn | 22.08 Bn | - | - |
| 7 | Trip.com | 25.92 Bn | -19.63 Bn | 1.84 Bn | 466.00 Mn |
| 8 | Hyatt Hotels | 15.20 Bn | 12.68 Bn | 388.00 Mn | 1.44 Bn |
| 9 | H World | 13.30 Bn | 4.22 Bn | - | - |
| 10 | Atour Lifestyle Holdings | 8.20 Bn | 4.90 Bn | 493.22 Mn | 19.44 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.55 Bn |
| Mar 31, 2026 | 2.25 Bn |
| Dec 31, 2025 | 2.24 Bn |
| Sep 30, 2025 | 2.48 Bn |
| Jun 30, 2025 | 2.28 Bn |
| Mar 31, 2025 | 2.08 Bn |
| Dec 31, 2024 | 2.05 Bn |
| Sep 30, 2024 | 2.39 Bn |
| Jun 30, 2024 | 2.15 Bn |
| Mar 31, 2024 | 2.06 Bn |
| Dec 31, 2023 | 1.89 Bn |
| Sep 30, 2023 | 2.14 Bn |
| Jun 30, 2023 | 1.96 Bn |
| Mar 31, 2023 | 1.79 Bn |
| Dec 31, 2022 | 1.78 Bn |
| Sep 30, 2022 | 1.97 Bn |
| Jun 30, 2022 | 1.68 Bn |
| Mar 31, 2022 | 1.18 Bn |
| Dec 31, 2021 | 1.22 Bn |
| Sep 30, 2021 | 813.69 Mn |
API Access
Royal Caribbean Cruises Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=RCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "RCL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=RCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();