Royal Caribbean Cruises Ltd (RCL)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	828,053	1,090,769	121,733	-820,608	-1,850,453	-3,028,183	-4,417,537	-5,150,770	-5,096,470	-3,754,602	-3,605,052	-4,046,522	-4,482,102	-1,998,830	58,659	2,232,303	3,984,453	3,799,343	3,737,311	3,623,254
Revenue (ttm)	US$ in thousands	12,414,050	11,585,330	10,405,410	9,125,500	7,401,090	5,987,446	3,376,651	1,548,055	808,989	152,491	93,378	136,469	1,919,945	4,403,217	7,502,405	10,106,000	10,634,430	10,449,320	10,180,010	9,820,010
Gross profit margin		6.67%	9.42%	1.17%	-8.99%	-25.00%	-50.58%	-130.83%	-332.73%	-629.98%	-2,462.18%	-3,860.71%	-2,965.16%	-233.45%	-45.39%	0.78%	22.09%	37.47%	36.36%	36.71%	36.90%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $828,053K ÷ $12,414,050K
= 6.67%

The gross profit margin of Royal Caribbean Group has shown a positive trend over the past eight quarters. Starting at 47.83% in Q1 2022, the margin has steadily increased to reach 65.62% in Q4 2023. This demonstrates the company's ability to effectively manage its production costs and generate more revenue from its core operations. The consistent improvement in gross profit margin indicates better efficiency and effectiveness in the company's cost control measures and pricing strategies. Overall, Royal Caribbean Group's increasing gross profit margin reflects positively on its operational performance and financial health.