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Brookfield Infrastructure Partners vs Royal Caribbean Cruises: revenue, profit, margins and growth compared

Brookfield Infrastructure Partners brought in $23.1B of revenue in fiscal 2025, Royal Caribbean Cruises $17.9B in fiscal 2025. Revenue changed by +9.8% at Brookfield Infrastructure Partners and +8.8% at Royal Caribbean Cruises on the year before, so Brookfield Infrastructure Partners grew faster. Brookfield Infrastructure Partners kept 11.0% of its revenue as net profit, Royal Caribbean Cruises 23.8%. Free cash flow was -$53M at Brookfield Infrastructure Partners and $1.2B at Royal Caribbean Cruises.

Side by side, latest fiscal year

BIPRCL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$23.1B$17.9B
Revenue growth+9.8%+8.8%
Net income$2.5B$4.3B
Net margin11.0%23.8%
Free cash flow-$53M$1.2B
Free cash flow margin-0.2%6.9%
Earnings per share (diluted)$0.90$15.61
Cash$3.2B$825M
Debtn/a$21.3B
Price to earningsn/a15.5
Market value$15.9B$64.9B
Dividend yieldn/a1.44%
Rank by revenue in sector#53 of 1065 · Consumer discretionary#71 of 1065 · Consumer discretionary

Over the years

Revenue
BIP FY2018: $4.7BBIP FY2019: $6.6BBIP FY2020: $8.9BBIP FY2021: $11.5BBIP FY2022: $14.4BBIP FY2023: $17.9BBIP FY2024: $21BBIP FY2025: $23.1BRCL FY2018: $9.5BRCL FY2019: $11BRCL FY2020: $2.2BRCL FY2021: $1.5BRCL FY2022: $8.8BRCL FY2023: $13.9BRCL FY2024: $16.5BRCL FY2025: $17.9BFY18FY19FY20FY21FY22FY23FY24FY25
BIP $23.1BRCL $17.9B
Net income
BIP FY2018: $806MBIP FY2019: $650MBIP FY2020: $904MBIP FY2021: $2.7BBIP FY2022: $1.4BBIP FY2023: $1.4BBIP FY2024: $1.7BBIP FY2025: $2.5BRCL FY2018: $1.8BRCL FY2019: $1.9BRCL FY2020: -$5.8BRCL FY2021: -$5.3BRCL FY2022: -$2.2BRCL FY2023: $1.7BRCL FY2024: $2.9BRCL FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
BIP $2.5BRCL $4.3B
Net margin
BIP FY2018: 17.3%BIP FY2019: 9.9%BIP FY2020: 10.2%BIP FY2021: 23.6%BIP FY2022: 9.5%BIP FY2023: 8.1%BIP FY2024: 8.0%BIP FY2025: 11.0%RCL FY2018: 19.1%RCL FY2019: 17.2%RCL FY2020: -262.5%RCL FY2021: -343.3%RCL FY2022: -24.4%RCL FY2023: 12.2%RCL FY2024: 17.5%RCL FY2025: 23.8%FY18FY19FY20FY21FY22FY23FY24FY25
BIP 11.0%RCL 23.8%
Revenue growth
BIP FY2019: +41.8%BIP FY2020: +34.7%BIP FY2021: +29.8%BIP FY2022: +25.0%BIP FY2023: +24.3%BIP FY2024: +17.3%BIP FY2025: +9.8%RCL FY2019: +15.3%RCL FY2020: -79.8%RCL FY2021: -30.6%RCL FY2022: +477.0%RCL FY2023: +57.2%RCL FY2024: +18.6%RCL FY2025: +8.8%FY19FY20FY21FY22FY23FY24FY25
BIP +9.8%RCL +8.8%
Free cash flow
BIP FY2018: $523MBIP FY2019: $961MBIP FY2020: $1.1BBIP FY2021: $705MBIP FY2022: $356MBIP FY2023: $1.6BBIP FY2024: -$322MBIP FY2025: -$53MRCL FY2018: -$180.9MRCL FY2019: $691.7MRCL FY2020: -$5.7BRCL FY2021: -$4.1BRCL FY2022: -$2.2BRCL FY2023: $580MRCL FY2024: $2BRCL FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
BIP -$53MRCL $1.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Brookfield Infrastructure Partners and Royal Caribbean Cruises

Which is bigger by revenue, Brookfield Infrastructure Partners or Royal Caribbean Cruises?

Brookfield Infrastructure Partners is bigger by revenue: $23.1B in fiscal 2025, against $17.9B for Royal Caribbean Cruises in fiscal 2025.

Which keeps more of its revenue as profit, Brookfield Infrastructure Partners or Royal Caribbean Cruises?

Brookfield Infrastructure Partners had a net margin of 11.0% in fiscal 2025; Royal Caribbean Cruises had 23.8% in fiscal 2025.

Which grew revenue faster, Brookfield Infrastructure Partners or Royal Caribbean Cruises?

In their latest fiscal years revenue changed by +9.8% at Brookfield Infrastructure Partners and +8.8% at Royal Caribbean Cruises.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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