How Royal Caribbean Cruises makes money

Period

FY2025

How does Royal Caribbean Cruises make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Royal Caribbean Cruises Ltd. · FY2025 · year ended 2025-12-31

Revenue$17.9BGross profit$8.9B · 49%Cost of revenue$9.1B · 51%Operating income$4.9B · 27%Operating expenses$3.9B · 22%SG&A$2.2B · 12%Other opex$1.7B · 10%Pre-tax income$4.3B · 24%Other expense$560M · 3%Net income$4.3B · 24%Income tax$82M · 0%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.