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

Kirby brought in $3.4B of revenue in fiscal 2025, Royal Caribbean Cruises $17.9B in fiscal 2025. Revenue changed by +3.0% at Kirby and +8.8% at Royal Caribbean Cruises on the year before, so Royal Caribbean Cruises grew faster. Kirby kept 10.5% of its revenue as net profit, Royal Caribbean Cruises 23.8%. Free cash flow was $405.7M at Kirby and $1.2B at Royal Caribbean Cruises.

Side by side, latest fiscal year

KEXRCL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.4B$17.9B
Revenue growth+3.0%+8.8%
Net income$354.6M$4.3B
Net margin10.5%23.8%
Free cash flow$405.7M$1.2B
Free cash flow margin12.1%6.9%
Earnings per share (diluted)$6.33$15.61
Cash$78.8M$825M
Debt$919.3M$21.3B
Price to earnings20.415.6
Market value$6.8B$64.9B
Dividend yieldn/a1.44%
Rank by revenue in sector#271 of 778 · Consumer discretionary#67 of 778 · Consumer discretionary

Over the years

Revenue
KEX FY2018: $3BKEX FY2019: $2.8BKEX FY2020: $2.2BKEX FY2021: $2.2BKEX FY2022: $2.8BKEX FY2023: $3.1BKEX FY2024: $3.3BKEX FY2025: $3.4BRCL FY2018: $9.5BRCL FY2019: $11BRCL FY2020: $2.2BRCL FY2021: $1.5BRCL FY2022: $8.8BRCL FY2023: $13.9BRCL FY2024: $16.5BRCL FY2025: $17.9BFY18FY19FY20FY21FY22FY23FY24FY25
KEX $3.4BRCL $17.9B
Net income
KEX FY2018: $78.5MKEX FY2019: $142.3MKEX FY2020: -$272.5MKEX FY2021: -$247MKEX FY2022: $122.3MKEX FY2023: $222.9MKEX FY2024: $286.7MKEX FY2025: $354.6MRCL FY2018: $1.8BRCL FY2019: $1.9BRCL FY2020: -$5.8BRCL FY2021: -$5.3BRCL FY2022: -$2.2BRCL FY2023: $1.7BRCL FY2024: $2.9BRCL FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
KEX $354.6MRCL $4.3B
Net margin
KEX FY2018: 2.6%KEX FY2019: 5.0%KEX FY2020: -12.6%KEX FY2021: -11.0%KEX FY2022: 4.4%KEX FY2023: 7.2%KEX FY2024: 8.8%KEX FY2025: 10.5%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
KEX 10.5%RCL 23.8%
Revenue growth
KEX FY2019: -4.5%KEX FY2020: -23.5%KEX FY2021: +3.5%KEX FY2022: +24.0%KEX FY2023: +11.0%KEX FY2024: +5.6%KEX FY2025: +3.0%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
KEX +3.0%RCL +8.8%
Free cash flow
KEX FY2018: $45.1MKEX FY2019: $263.6MKEX FY2020: $296.8MKEX FY2021: $223.6MKEX FY2022: $121.5MKEX FY2023: $138.5MKEX FY2024: $413.8MKEX FY2025: $405.7MRCL FY2018: -$180.9MRCL FY2019: $691.7MRCL FY2020: -$5.7BRCL FY2021: -$4.1BRCL FY2022: -$2.2BRCL FY2023: $580MRCL FY2024: $2BRCL FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
KEX $405.7MRCL $1.2B

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

Questions about Kirby and Royal Caribbean Cruises

Which is bigger by revenue, Kirby or Royal Caribbean Cruises?

Royal Caribbean Cruises is bigger by revenue: $17.9B in fiscal 2025, against $3.4B for Kirby in fiscal 2025.

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

Kirby had a net margin of 10.5% in fiscal 2025; Royal Caribbean Cruises had 23.8% in fiscal 2025.

Which grew revenue faster, Kirby or Royal Caribbean Cruises?

In their latest fiscal years revenue changed by +3.0% at Kirby 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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