Royal Caribbean Cruises (RCL) FY2023 results: revenue $13.9 billion, up 57.2% on the year
Royal Caribbean Cruises Ltd. (RCL) reported revenue of $13.9 billion for fiscal 2023, the year ended 31 December 2023, up 57.2% on the year before. Net income was $1.7 billion, and diluted earnings per share $6.31. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$13.9 billion
+57.2% on the year
FY2016FY2023
Operating margin
20.7%
-8.7% a year earlier
FY2016FY2023
Net income
$1.7 billion
FY2016FY2023
Diluted EPS
$6.31
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,477
482
-1,878
+829.1%
Capital expenditure
3,897
2,710
2,230
+43.8%
Free cash flow
580
-2,228
-4,108
Free cash flow margin
4.2%
-25.2%
-268.1%
Cash from investing
-3,923
-2,988
-2,145
Cash from financing
-1,993
1,741
3,041
Depreciation and amortisation
1,455
1,407
1,293
+3.4%
Share-based compensation
126
36.0
64.0
+250.0%
Buybacks
0.0
n/a
0.0
Dividends paid
0.0
0.0
0.0
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
283m
255m
252m
+11.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,724
2,869
5,086
+64.7%
Non-controlling interest
175
0.0
n/a
Debt
21,452
23,391
21,090
-8.3%
Operating lease liabilities
613
523
535
+17.2%
Finance lease liabilities
343
317
421
+8.1%
Other liabilities
7,824
6,676
5,127
+17.2%
Total liabilities and equity
35,131
33,776
32,258
+4.0%
Fixed assets
30,114
27,546
25,908
+9.3%
Goodwill
809
809
809
-0.0%
Intangible assets
418
426
435
-2.0%
Cash and equivalents
497
1,935
2,702
-74.3%
Receivables
405
531
408
-23.7%
Inventory
248
224
150
+10.7%
Other assets
2,640
2,304
1,846
+14.6%
Total assets
35,131
33,776
32,258
+4.0%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.