Royal Caribbean Cruises Ltd (RCL)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	2,878,000	-766,000	-3,870,330	-4,601,560	2,082,700
Revenue	US$ in thousands	12,346,000	7,385,240	100,364	1,037,510	10,564,600
Operating profit margin		23.31%	-10.37%	-3,856.29%	-443.52%	19.71%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $2,878,000K ÷ $12,346,000K
= 23.31%

The operating profit margin of Royal Caribbean Group has experienced significant fluctuations over the past five years, ranging from negative figures to positive percentages. In 2023, the company achieved an operating profit margin of 20.71%, indicating that it earned approximately 20.71 cents in operating profit for every dollar of revenue generated. This represents a substantial improvement compared to the negative operating profit margins seen in 2022, 2021, and 2020, where the company incurred operating losses exceeding its revenue. The positive operating profit margin in 2019, at 19.02%, suggests that the company was able to generate healthy profits from its operations that year. The fluctuating trend in operating profit margins highlights the challenges and volatility faced by Royal Caribbean Group in recent years, impacting its overall financial performance.