Royal Caribbean Cruises (RCL) Operating Margin (2009 - 2026)

Royal Caribbean Cruises has disclosed Operating Margin across 18 years of filings, most recently posting 26.1% for Q1 2026.

• Operating Margin for Q1 2026 came in at 26.1%, up 247.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 27.88% (up 220.0% YoY), and the FY2025 annual result was 27.38%, up 247.0% from the prior year.
• Operating Margin came in at 26.1% for Q1 2026 at Royal Caribbean Cruises, up from 21.91% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 33.44% in Q3 2024 to a low of 81.12% in Q1 2022.
• The 5-year median for Operating Margin is 21.88% (2023), against an average of 13.48%.
• Across the five-year window, Operating Margin jumped 200031 bps in 2022 and sank 52 bps in 2024, its largest moves.
• Royal Caribbean Cruises' Operating Margin stood at 0.52% in 2022, then jumped by 3218 bps to 17.11% in 2023, then dropped by 3 bps to 16.6% in 2024, then jumped by 32 bps to 21.91% in 2025, then climbed by 19 bps to 26.1% in 2026.
• The last three Operating Margin figures came in at 26.1% (Q1 2026), 21.91% (Q4 2025), and 33.12% (Q3 2025), per Business Quant data.