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International Seaways vs Royal Caribbean Cruises: revenue, profit, margins and growth compared

International Seaways brought in $843.3M of revenue in fiscal 2025, Royal Caribbean Cruises $17.9B in fiscal 2025. Revenue changed by -11.4% at International Seaways and +8.8% at Royal Caribbean Cruises on the year before, so Royal Caribbean Cruises grew faster. International Seaways kept 36.7% of its revenue as net profit, Royal Caribbean Cruises 23.8%.

Side by side, latest fiscal year

INSWRCL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$843.3M$17.9B
Revenue growth-11.4%+8.8%
Net income$309.3M$4.3B
Net margin36.7%23.8%
Free cash flown/a$1.2B
Free cash flow marginn/a6.9%
Earnings per share (diluted)$6.23$15.61
Cash$116.9M$825M
Debt$567.1M$21.3B
Price to earnings17.015.6
Market value$5.2B$64.9B
Dividend yield2.77%1.44%
Rank by revenue in sector#487 of 778 · Consumer discretionary#67 of 778 · Consumer discretionary

Over the years

Revenue
INSW FY2018: $270.4MINSW FY2019: $366.2MINSW FY2020: $421.6MINSW FY2021: $272.5MINSW FY2022: $864.7MINSW FY2023: $1.1BINSW FY2024: $951.6MINSW FY2025: $843.3MRCL FY2018: $9.5BRCL FY2019: $11BRCL FY2020: $2.2BRCL FY2021: $1.5BRCL FY2022: $8.8BRCL FY2023: $13.9BRCL FY2024: $16.5BRCL FY2025: $17.9BFY18FY19FY20FY21FY22FY23FY24FY25
INSW $843.3MRCL $17.9B
Net income
INSW FY2018: -$88.9MINSW FY2019: -$830KINSW FY2020: -$5.5MINSW FY2021: -$133.5MINSW FY2022: $387.9MINSW FY2023: $556.4MINSW FY2024: $416.7MINSW FY2025: $309.3MRCL FY2018: $1.8BRCL FY2019: $1.9BRCL FY2020: -$5.8BRCL FY2021: -$5.3BRCL FY2022: -$2.2BRCL FY2023: $1.7BRCL FY2024: $2.9BRCL FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
INSW $309.3MRCL $4.3B
Net margin
INSW FY2018: -32.9%INSW FY2019: -0.2%INSW FY2020: -1.3%INSW FY2021: -49.0%INSW FY2022: 44.9%INSW FY2023: 51.9%INSW FY2024: 43.8%INSW FY2025: 36.7%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
INSW 36.7%RCL 23.8%
Revenue growth
INSW FY2019: +35.4%INSW FY2020: +15.1%INSW FY2021: -35.4%INSW FY2022: +217.3%INSW FY2023: +24.0%INSW FY2024: -11.2%INSW FY2025: -11.4%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
INSW -11.4%RCL +8.8%
Free cash flow
INSW FY2018: -$161.4MRCL FY2018: -$180.9MRCL FY2019: $691.7MRCL FY2020: -$5.7BRCL FY2021: -$4.1BRCL FY2022: -$2.2BRCL FY2023: $580MRCL FY2024: $2BRCL FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
INSW -$161.4MRCL $1.2B

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

Questions about International Seaways and Royal Caribbean Cruises

Which is bigger by revenue, International Seaways or Royal Caribbean Cruises?

Royal Caribbean Cruises is bigger by revenue: $17.9B in fiscal 2025, against $843.3M for International Seaways in fiscal 2025.

Which keeps more of its revenue as profit, International Seaways or Royal Caribbean Cruises?

International Seaways had a net margin of 36.7% in fiscal 2025; Royal Caribbean Cruises had 23.8% in fiscal 2025.

Which grew revenue faster, International Seaways or Royal Caribbean Cruises?

In their latest fiscal years revenue changed by -11.4% at International Seaways 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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