Royal Caribbean Cruises (RCL) FY2013 results: revenue $8.0 billion, up 3.5% on the year
Royal Caribbean Cruises Ltd. (RCL) reported revenue of $8.0 billion for fiscal 2013, the year ended 31 December 2013, up 3.5% on the year before. Net income was $474 million, up 2490.3%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$8.0 billion
+3.5% on the year
FY2008FY2013
Operating margin
10.0%
5.2% a year earlier
FY2008FY2013
Net income
$474 million
+2,490.3% on the year
FY2008FY2013
Diluted EPS
$2.14
+2,575.0% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
7,960
7,688
7,537
+3.5%
Cost of revenue
5,305
5,157
4,943
+2.9%
Gross profit
2,655
2,531
2,595
+4.9%
Gross margin
33.3%
32.9%
34.4%
Selling, general and administrative
1,045
1,012
961
+3.3%
Operating income
798
403
932
+98.0%
Operating margin
10.0%
5.2%
12.4%
Interest expense
332
356
382
-6.6%
Income tax
n/a
55.5
20.7
Net income
474
18.3
607
+2,490.3%
Net margin
6.0%
0.2%
8.1%
Diluted EPS
$2.14
$0.08
$2.77
+2,575.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,412
1,382
1,456
+2.2%
Capital expenditure
764
1,291
1,174
-40.9%
Free cash flow
648
90.2
282
+618.4%
Free cash flow margin
8.1%
1.2%
3.7%
Cash from investing
-825
-1,263
-925
Cash from financing
-577
-180
-677
Depreciation and amortisation
755
730
702
+3.3%
Share-based compensation
21.2
24.2
23.8
-12.3%
Buybacks
0.0
0.0
n/a
Dividends paid
144
118
21.7
+22.0%
Dividend per share
n/a
$0.12
n/a
Diluted shares, weighted
221m
219m
219m
+0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
8,808
8,309
8,408
+6.0%
Debt
8,075
8,490
8,496
-4.9%
Other liabilities
3,190
3,029
2,901
+5.3%
Total liabilities and equity
20,073
19,828
19,804
+1.2%
Fixed assets
17,518
17,451
16,935
+0.4%
Goodwill
439
433
747
+1.4%
Cash and equivalents
205
195
262
+5.0%
Receivables
260
281
292
-7.7%
Inventory
151
146
145
+3.4%
Other assets
1,500
1,321
1,424
+13.5%
Total assets
20,073
19,828
19,804
+1.2%
10-K for the year ended 31 December 2013, filed 20 February 2014: the filing.