Stocks Comparison
Norwegian Cruise Line vs Royal Caribbean Cruises: revenue, profit, margins and growth compared
Norwegian Cruise Line brought in $9.8B of revenue in fiscal 2025, Royal Caribbean Cruises $17.9B in fiscal 2025. Revenue changed by +3.7% at Norwegian Cruise Line and +8.8% at Royal Caribbean Cruises on the year before, so Royal Caribbean Cruises grew faster. Norwegian Cruise Line kept 4.3% of its revenue as net profit, Royal Caribbean Cruises 23.8%. Free cash flow was -$1.2B at Norwegian Cruise Line and $1.2B at Royal Caribbean Cruises.
Side by side, latest fiscal year
| NCLH | RCL | |
|---|---|---|
| Fiscal year ended | FY2025 (December 31, 2025) | FY2025 (December 31, 2025) |
| Revenue | $9.8B | $17.9B |
| Revenue growth | +3.7% | +8.8% |
| Net income | $423.2M | $4.3B |
| Net margin | 4.3% | 23.8% |
| Free cash flow | -$1.2B | $1.2B |
| Free cash flow margin | -11.9% | 6.9% |
| Earnings per share (diluted) | $0.92 | $15.61 |
| Cash | $209.9M | $825M |
| Debt | $14.6B | $21.3B |
| Price to earnings | 15.9 | 15.6 |
| Market value | $6.7B | $64.9B |
| Dividend yield | n/a | 1.44% |
| Rank by revenue in sector | #122 of 778 · Consumer discretionary | #67 of 778 · Consumer discretionary |
Over the years
Questions about Norwegian Cruise Line and Royal Caribbean Cruises
Which is bigger by revenue, Norwegian Cruise Line or Royal Caribbean Cruises?
Royal Caribbean Cruises is bigger by revenue: $17.9B in fiscal 2025, against $9.8B for Norwegian Cruise Line in fiscal 2025.
Which keeps more of its revenue as profit, Norwegian Cruise Line or Royal Caribbean Cruises?
Norwegian Cruise Line had a net margin of 4.3% in fiscal 2025; Royal Caribbean Cruises had 23.8% in fiscal 2025.
Which grew revenue faster, Norwegian Cruise Line or Royal Caribbean Cruises?
In their latest fiscal years revenue changed by +3.7% at Norwegian Cruise Line 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.