Net Profit Margin
since 2005
Calculation
Royal Caribbean Cruises Ltd., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss) attributable to Royal Caribbean Cruises Ltd.1 | ÷ | Revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | -343.34% | = | 100 | × | (5,260,499) | ÷ | 1,532,133) |
| Dec 31, 2020 | -262.47% | = | 100 | × | (5,797,462) | ÷ | 2,208,805) |
| Dec 31, 2019 | 17.16% | = | 100 | × | 1,878,887) | ÷ | 10,950,661) |
| Dec 31, 2018 | 19.08% | = | 100 | × | 1,811,042) | ÷ | 9,493,849) |
| Dec 31, 2017 | 18.51% | = | 100 | × | 1,625,133) | ÷ | 8,777,845) |
| Dec 31, 2016 | 15.11% | = | 100 | × | 1,283,388) | ÷ | 8,496,401) |
| Dec 31, 2015 | 8.02% | = | 100 | × | 665,783) | ÷ | 8,299,074) |
| Dec 31, 2014 | 9.46% | = | 100 | × | 764,146) | ÷ | 8,073,855) |
| Dec 31, 2013 | 5.95% | = | 100 | × | 473,692) | ÷ | 7,959,894) |
| Dec 31, 2012 | 0.24% | = | 100 | × | 18,287) | ÷ | 7,688,024) |
| Dec 31, 2011 | 8.06% | = | 100 | × | 607,421) | ÷ | 7,537,263) |
| Dec 31, 2010 | 8.11% | = | 100 | × | 547,467) | ÷ | 6,752,504) |
| Dec 31, 2009 | 2.76% | = | 100 | × | 162,421) | ÷ | 5,889,826) |
| Dec 31, 2008 | 8.78% | = | 100 | × | 573,722) | ÷ | 6,532,525) |
| Dec 31, 2007 | 9.81% | = | 100 | × | 603,405) | ÷ | 6,149,139) |
| Dec 31, 2006 | 12.12% | = | 100 | × | 633,922) | ÷ | 5,229,584) |
| Dec 31, 2005 | 14.60% | = | 100 | × | 715,956) | ÷ | 4,903,174) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The net profit margin exhibited significant volatility over the seventeen-year period, characterized by an initial period of decline, a subsequent phase of robust growth, and a final period of extreme contraction.
- Initial Margin Erosion and Volatility (2005–2012)
- A steady downward trend in profitability is observed from 2005 to 2009, with the net profit margin falling from 14.60% to a low of 2.76%. Although a recovery occurred in 2010 and 2011, where margins stabilized around 8%, a sharp decline followed in 2012, bringing the margin to a near-zero level of 0.24%.
- Profitability Expansion and Peak Performance (2013–2019)
- A consistent upward trajectory in efficiency began in 2013, with the net profit margin rising from 5.95% to a peak of 19.08% by 2018. This period represents the highest level of operational profitability in the analyzed timeframe, supported by an increase in revenues that grew from approximately 7.96 billion US$ in 2013 to nearly 10.95 billion US$ in 2019. A slight moderation to 17.16% occurred in 2019, though profitability remained historically high.
- Extreme Contraction and Negative Returns (2020–2021)
- A catastrophic collapse in profit margins is evident starting in 2020, coinciding with a massive reduction in revenues. The net profit margin shifted from positive territory to -262.47% in 2020 and further deteriorated to -343.34% in 2021. This indicates that losses significantly exceeded total revenues during these two years, reflecting a period of severe financial distress.
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Comparison to Competitors
Royal Caribbean Cruises Ltd., net profit margin, long-term trends, comparison to competitors
| Royal Caribbean Cruises Ltd. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | -343.34% | -5.88% | 10.63% | 8.65% | -9.57% | 32.49% | 14.45% |
| Dec 31, 2020 | -262.47% | -135.71% | 0.87% | 5.94% | -15.97% | 24.63% | 3.95% |
| Dec 31, 2019 | 17.16% | — | 32.29% | 6.27% | — | 28.59% | 13.58% |
| Dec 31, 2018 | 19.08% | — | 27.52% | 3.63% | — | 28.18% | 18.28% |
| Dec 31, 2017 | 18.51% | — | 18.46% | 3.94% | — | 22.75% | 12.89% |
| Dec 31, 2016 | 15.11% | — | 19.87% | 0.59% | — | 19.03% | 13.22% |
| Dec 31, 2015 | 8.02% | — | 27.66% | 10.57% | — | 17.82% | 14.39% |
| Dec 31, 2014 | 9.46% | — | 28.69% | 10.84% | — | 17.34% | 12.57% |
| Dec 31, 2013 | 5.95% | — | 27.86% | 10.19% | — | 19.87% | 0.06% |
| Dec 31, 2012 | 0.24% | — | 26.98% | 10.18% | — | 19.82% | 10.40% |
| Dec 31, 2011 | 8.06% | — | 24.25% | 9.47% | — | 20.38% | 10.65% |
| Dec 31, 2010 | 8.11% | — | 17.10% | 9.75% | — | 20.55% | 8.83% |
| Dec 31, 2009 | 2.76% | — | 20.93% | 8.35% | — | 20.01% | 4.00% |
| Dec 31, 2008 | 8.78% | — | 10.26% | 5.87% | — | 18.34% | 3.04% |
| Dec 31, 2007 | 9.81% | — | 11.15% | 6.50% | — | 10.51% | 7.15% |
| Dec 31, 2006 | 12.12% | — | 6.63% | 5.03% | — | 16.42% | 7.25% |
| Dec 31, 2005 | 14.60% | — | 20.02% | 6.01% | — | 12.72% | 7.76% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Services)
Royal Caribbean Cruises Ltd., net profit margin, long-term trends, comparison to sector (consumer services)
| Royal Caribbean Cruises Ltd. | Consumer Services | |
|---|---|---|
| Dec 31, 2021 | -343.34% | 15.60% |
| Dec 31, 2020 | -262.47% | 1.66% |
| Dec 31, 2019 | 17.16% | 21.75% |
| Dec 31, 2018 | 19.08% | 22.44% |
| Dec 31, 2017 | 18.51% | 16.99% |
| Dec 31, 2016 | 15.11% | 15.95% |
| Dec 31, 2015 | 8.02% | 17.69% |
| Dec 31, 2014 | 9.46% | 17.17% |
| Dec 31, 2013 | 5.95% | 14.74% |
| Dec 31, 2012 | 0.24% | 17.49% |
| Dec 31, 2011 | 8.06% | 17.69% |
| Dec 31, 2010 | 8.11% | 16.62% |
| Dec 31, 2009 | 2.76% | 15.28% |
| Dec 31, 2008 | 8.78% | 13.20% |
| Dec 31, 2007 | 9.81% | 9.50% |
| Dec 31, 2006 | 12.12% | 13.49% |
| Dec 31, 2005 | 14.60% | 11.71% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
Royal Caribbean Cruises Ltd., net profit margin, long-term trends, comparison to industry (consumer discretionary)
| Royal Caribbean Cruises Ltd. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2021 | -343.34% | 9.12% |
| Dec 31, 2020 | -262.47% | 5.18% |
| Dec 31, 2019 | 17.16% | 5.92% |
| Dec 31, 2018 | 19.08% | 6.19% |
| Dec 31, 2017 | 18.51% | 4.38% |
| Dec 31, 2016 | 15.11% | 5.77% |
| Dec 31, 2015 | 8.02% | 6.37% |
| Dec 31, 2014 | 9.46% | 4.66% |
| Dec 31, 2013 | 5.95% | 5.29% |
| Dec 31, 2012 | 0.24% | 5.32% |
| Dec 31, 2011 | 8.06% | 8.80% |
| Dec 31, 2010 | 8.11% | 5.80% |
| Dec 31, 2009 | 2.76% | 4.94% |
| Dec 31, 2008 | 8.78% | 0.22% |
| Dec 31, 2007 | 9.81% | 3.23% |
| Dec 31, 2006 | 12.12% | 0.73% |
| Dec 31, 2005 | 14.60% | 4.49% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).