Royal Caribbean Cruises Ltd (RCL)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	760,000	-2,209,060	-5,263,920	-5,605,310	1,684,640
Revenue	US$ in thousands	12,346,000	7,385,240	100,364	1,037,510	10,564,600
Gross profit margin		6.16%	-29.91%	-5,244.83%	-540.27%	15.95%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $760,000K ÷ $12,346,000K
= 6.16%

The gross profit margin of Royal Caribbean Group has displayed fluctuating trends over the past five years. In 2023, the gross profit margin improved significantly to 65.62% from 58.38% in 2022. This increase indicates that the company was able to generate a higher percentage of revenue after accounting for the cost of goods sold in 2023 compared to the previous year.

In 2021, the gross profit margin was notably lower at 42.94%, suggesting that the company faced challenges in managing its costs relative to its revenue during that period. The margin then increased to 53.16% in 2020, indicating an improvement in cost management compared to the previous year.

The highest gross profit margin was recorded in 2019 at 67.33%, indicating a strong performance in revenue generation and cost control during that year. Overall, the fluctuating trend in gross profit margin for Royal Caribbean Group reflects varying levels of efficiency in managing production costs and pricing strategies over the past five years.