Royal Caribbean Cruises (RCL) FY2022 results: revenue $8.8 billion, up 477.0% on the year
Royal Caribbean Cruises Ltd. (RCL) reported revenue of $8.8 billion for fiscal 2022, the year ended 31 December 2022, up 477.0% on the year before. Net income was -$2.2 billion, and diluted earnings per share $-8.45. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$8.8 billion
+477.0% on the year
FY2015FY2022
Operating margin
-8.7%
-252.6% a year earlier
FY2015FY2022
Net income
-$2.2 billion
FY2015FY2022
Diluted EPS
-$8.45
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
482
-1,878
-3,732
Capital expenditure
2,710
2,230
1,965
+21.5%
Free cash flow
-2,228
-4,108
-5,697
Free cash flow margin
-25.2%
-268.1%
-257.9%
Cash from investing
-2,988
-2,145
-2,179
Cash from financing
1,741
3,041
9,350
-42.7%
Depreciation and amortisation
1,407
1,293
1,279
+8.8%
Share-based compensation
36.0
64.0
39.8
-43.8%
Buybacks
n/a
0.0
0.0
Dividends paid
0.0
0.0
326
Dividend per share
$0.00
n/a
$0.78
Diluted shares, weighted
255m
252m
214m
+1.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,869
5,086
8,761
-43.6%
Non-controlling interest
0.0
n/a
0.3
Redeemable equity
n/a
n/a
0.0
Debt
23,391
21,090
19,329
+10.9%
Operating lease liabilities
523
535
564
-2.2%
Finance lease liabilities
317
421
162
-24.6%
Other liabilities
6,676
5,127
3,650
+30.2%
Total liabilities and equity
33,776
32,258
32,465
+4.7%
Fixed assets
27,546
25,908
25,247
+6.3%
Goodwill
809
809
809
-0.0%
Intangible assets
426
435
445
-1.9%
Cash and equivalents
1,935
2,702
3,684
-28.4%
Receivables
531
408
284
+30.1%
Inventory
224
150
119
+49.1%
Other assets
2,304
1,846
1,877
+24.8%
Total assets
33,776
32,258
32,465
+4.7%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.