Royal Caribbean revenue approaches $17.9 billion for 2025
The cruise company posted higher annual revenue, nearly $4.3 billion in net income and about $1.2 billion in free cash flow.
Royal Caribbean Cruises generated nearly $17.9 billion in revenue during the fiscal year ended Dec. 31, 2025, up approximately 8.8% from the prior year. Net income was close to $4.3 billion, representing a significant year-over-year improvement.
The company recorded a net margin of about 23.8%, reflecting the portion of revenue retained as profit after expenses. Free cash flow, calculated after operating and equipment spending, totaled nearly $1.2 billion for the year.
Royal Caribbean operates Celebrity Cruises and Silversea, with its global fleet serving guests on all seven continents. Its Crown & Anchor Society and other loyalty programs have more than 28 million members.
According to the report, roughly two-thirds of the company’s capacity for the year had already been reserved at record pricing. Royal Caribbean projected double-digit earnings growth, while management continued raising its full-year outlook based on that momentum.
