Royal Caribbean Cruises Ltd (RCL)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Gross profit (ttm)	US$ in thousands	7,087,000	6,466,000	5,994,590	5,974,700	5,771,940	5,505,490	4,518,710	3,443,980	2,226,202	1,251,395	-142,148	-1,009,444	-1,125,379	-1,203,240	-1,188,804	-1,319,703	-556,299	710,709	2,616,816	4,383,761
Revenue (ttm)	US$ in thousands	16,485,000	16,055,000	15,329,450	14,742,430	13,899,580	13,172,570	12,005,200	10,666,460	8,840,540	7,218,797	4,682,675	2,549,349	1,532,133	584,025	93,379	218,070	2,208,806	4,692,077	7,912,615	10,543,640
Gross profit margin		42.99%	40.27%	39.11%	40.53%	41.53%	41.80%	37.64%	32.29%	25.18%	17.34%	-3.04%	-39.60%	-73.45%	-206.03%	-1,273.10%	-605.17%	-25.19%	15.15%	33.07%	41.58%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $7,087,000K ÷ $16,485,000K
= 42.99%

The gross profit margin of Royal Caribbean Cruises Ltd has shown significant fluctuations over the past few years. It declined sharply in the latter half of 2020 and the first half of 2021, reaching negative percentages, indicating that the company's cost of goods sold exceeded its revenue from sales during those periods.

However, starting from September 2021, the gross profit margin began to improve gradually, turning positive in the first quarter of 2023. This positive trend continued through 2024, reaching a high of 42.99% by the end of December 2024.

Overall, the gross profit margin of Royal Caribbean Cruises Ltd has shown resilience and improvement, reflecting the company's efforts to manage costs and enhance sales revenues. This positive trend is a good sign for the company's financial health and profitability in the upcoming periods.