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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on SalesTimes Interest Earned

Royal Caribbean Cruises (RCL) Operating Margin (2016 - 2025)

Royal Caribbean Cruises' Operating Margin history spans 16 years, with the latest figure at 21.91% for Q4 2025.

  • For Q4 2025, Operating Margin rose 534.0% year-over-year to 21.91%; the TTM value through Dec 2025 reached 27.38%, up 247.0%, while the annual FY2025 figure was 27.38%, 247.0% up from the prior year.
  • Operating Margin for Q4 2025 was 21.91% at Royal Caribbean Cruises, down from 33.14% in the prior quarter.
  • Across five years, Operating Margin topped out at 81.92% in Q4 2021 and bottomed at 3.19% in Q4 2022.
  • The 5-year median for Operating Margin is 21.91% (2023), against an average of 24.82%.
  • The largest annual shift saw Operating Margin plummeted -8510bps in 2022 before it surged 2043bps in 2023.
  • A 5-year view of Operating Margin shows it stood at 81.92% in 2021, then tumbled by -104bps to 3.19% in 2022, then soared by 636bps to 17.08% in 2023, then dropped by -3bps to 16.57% in 2024, then soared by 32bps to 21.91% in 2025.
  • Per Business Quant, the three most recent readings for RCL's Operating Margin are 21.91% (Q4 2025), 33.14% (Q3 2025), and 29.29% (Q2 2025).