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Side-by-side financial comparison of Royal Caribbean Group (RCL) and Yum China Holdings, Inc. (YUMC). Click either name above to swap in a different company.
Royal Caribbean Group is the larger business by last-quarter revenue ($4.3B vs $2.8B, roughly 1.5× Yum China Holdings, Inc.). Royal Caribbean Group runs the higher net margin — 17.7% vs 5.0%, a 12.7% gap on every dollar of revenue. On growth, Royal Caribbean Group posted the faster year-over-year revenue change (13.3% vs 8.8%). Royal Caribbean Group produced more free cash flow last quarter ($116.0M vs $-116.0M). Over the past eight quarters, Royal Caribbean Group's revenue compounded faster (6.9% CAGR vs -2.3%).
Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd ...
Yum China Holdings, Inc. is an American-Chinese Fortune 500 fast-food restaurant company based in Shanghai, China. With US$9.5 billion in revenue and 10,600 restaurants worldwide it is one of the largest restaurant companies. It was spun off from Yum! Brands in 2016, becoming an independent, publicly traded company on November 1, 2016. Yum China is a trademark licensee of Yum Brands, paying 3% of total systemwide sales to Yum Brands. It operates 8,484 restaurants in over 1,100 cities located ...
RCL vs YUMC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.3B | $2.8B |
| Net Profit | $753.0M | $140.0M |
| Gross Margin | 47.4% | — |
| Operating Margin | 21.9% | 6.6% |
| Net Margin | 17.7% | 5.0% |
| Revenue YoY | 13.3% | 8.8% |
| Net Profit YoY | 36.4% | 21.7% |
| EPS (diluted) | $2.76 | $0.40 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.3B | $2.8B | ||
| Q3 25 | $5.1B | $3.2B | ||
| Q2 25 | $4.5B | $2.8B | ||
| Q1 25 | $4.0B | $3.0B | ||
| Q4 24 | $3.8B | $2.6B | ||
| Q3 24 | $4.9B | $3.1B | ||
| Q2 24 | $4.1B | $2.7B | ||
| Q1 24 | $3.7B | $3.0B |
| Q4 25 | $753.0M | $140.0M | ||
| Q3 25 | $1.6B | $282.0M | ||
| Q2 25 | $1.2B | $215.0M | ||
| Q1 25 | $730.0M | $292.0M | ||
| Q4 24 | $552.0M | $115.0M | ||
| Q3 24 | $1.1B | $297.0M | ||
| Q2 24 | $854.0M | $212.0M | ||
| Q1 24 | $360.0M | $287.0M |
| Q4 25 | 47.4% | — | ||
| Q3 25 | 51.8% | — | ||
| Q2 25 | 49.7% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | 45.4% | — | ||
| Q3 24 | 51.1% | — | ||
| Q2 24 | 47.6% | — | ||
| Q1 24 | 44.8% | — |
| Q4 25 | 21.9% | 6.6% | ||
| Q3 25 | 33.1% | 12.5% | ||
| Q2 25 | 29.3% | 10.9% | ||
| Q1 25 | 23.6% | 13.4% | ||
| Q4 24 | 16.6% | 5.8% | ||
| Q3 24 | 33.4% | 12.1% | ||
| Q2 24 | 26.7% | 9.9% | ||
| Q1 24 | 20.1% | 12.6% |
| Q4 25 | 17.7% | 5.0% | ||
| Q3 25 | 30.6% | 8.8% | ||
| Q2 25 | 26.7% | 7.7% | ||
| Q1 25 | 18.3% | 9.8% | ||
| Q4 24 | 14.7% | 4.4% | ||
| Q3 24 | 22.7% | 9.7% | ||
| Q2 24 | 20.8% | 7.9% | ||
| Q1 24 | 9.7% | 9.7% |
| Q4 25 | $2.76 | $0.40 | ||
| Q3 25 | $5.74 | $0.76 | ||
| Q2 25 | $4.41 | $0.58 | ||
| Q1 25 | $2.70 | $0.77 | ||
| Q4 24 | $2.27 | $0.30 | ||
| Q3 24 | $4.21 | $0.77 | ||
| Q2 24 | $3.11 | $0.55 | ||
| Q1 24 | $1.35 | $0.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $825.0M | $1.4B |
| Total DebtLower is stronger | $18.2B | — |
| Stockholders' EquityBook value | $10.0B | $5.4B |
| Total Assets | $41.6B | $10.8B |
| Debt / EquityLower = less leverage | 1.81× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.0M | $1.4B | ||
| Q3 25 | $432.0M | $2.1B | ||
| Q2 25 | $735.0M | $2.2B | ||
| Q1 25 | $386.0M | $2.0B | ||
| Q4 24 | $388.0M | $1.8B | ||
| Q3 24 | $418.0M | $2.5B | ||
| Q2 24 | $391.0M | $2.5B | ||
| Q1 24 | $437.0M | $2.4B |
| Q4 25 | $18.2B | — | ||
| Q3 25 | $17.2B | — | ||
| Q2 25 | $17.6B | — | ||
| Q1 25 | $18.0B | — | ||
| Q4 24 | $18.5B | — | ||
| Q3 24 | $19.0B | — | ||
| Q2 24 | $19.8B | — | ||
| Q1 24 | $18.9B | — |
| Q4 25 | $10.0B | $5.4B | ||
| Q3 25 | $10.1B | $5.7B | ||
| Q2 25 | $9.2B | $5.8B | ||
| Q1 25 | $8.0B | $5.8B | ||
| Q4 24 | $7.6B | $5.7B | ||
| Q3 24 | $7.0B | $6.0B | ||
| Q2 24 | $6.0B | $5.8B | ||
| Q1 24 | $5.2B | $5.9B |
| Q4 25 | $41.6B | $10.8B | ||
| Q3 25 | $40.1B | $11.0B | ||
| Q2 25 | $38.5B | $11.0B | ||
| Q1 25 | $37.5B | $11.0B | ||
| Q4 24 | $37.1B | $11.1B | ||
| Q3 24 | $37.1B | $11.8B | ||
| Q2 24 | $37.0B | $11.6B | ||
| Q1 24 | $35.2B | $11.3B |
| Q4 25 | 1.81× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 2.26× | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 2.69× | — | ||
| Q2 24 | 3.29× | — | ||
| Q1 24 | 3.66× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.6B | $125.0M |
| Free Cash FlowOCF − Capex | $116.0M | $-116.0M |
| FCF MarginFCF / Revenue | 2.7% | -4.1% |
| Capex IntensityCapex / Revenue | 35.4% | 8.5% |
| Cash ConversionOCF / Net Profit | 2.16× | 0.89× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $840.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $125.0M | ||
| Q3 25 | $1.5B | $477.0M | ||
| Q2 25 | $1.7B | $412.0M | ||
| Q1 25 | $1.6B | $452.0M | ||
| Q4 24 | $1.5B | $167.0M | ||
| Q3 24 | $897.0M | $409.0M | ||
| Q2 24 | $1.6B | $401.0M | ||
| Q1 24 | $1.3B | $442.0M |
| Q4 25 | $116.0M | $-116.0M | ||
| Q3 25 | $-989.0M | $351.0M | ||
| Q2 25 | $910.0M | $290.0M | ||
| Q1 25 | $1.2B | $315.0M | ||
| Q4 24 | $915.0M | $-15.0M | ||
| Q3 24 | $563.0M | $244.0M | ||
| Q2 24 | $-567.0M | $232.0M | ||
| Q1 24 | $1.1B | $253.0M |
| Q4 25 | 2.7% | -4.1% | ||
| Q3 25 | -19.2% | 10.9% | ||
| Q2 25 | 20.1% | 10.4% | ||
| Q1 25 | 30.0% | 10.6% | ||
| Q4 24 | 24.3% | -0.6% | ||
| Q3 24 | 11.5% | 7.9% | ||
| Q2 24 | -13.8% | 8.7% | ||
| Q1 24 | 29.1% | 8.6% |
| Q4 25 | 35.4% | 8.5% | ||
| Q3 25 | 47.8% | 3.9% | ||
| Q2 25 | 18.4% | 4.4% | ||
| Q1 25 | 10.7% | 4.6% | ||
| Q4 24 | 14.7% | 7.0% | ||
| Q3 24 | 6.8% | 5.4% | ||
| Q2 24 | 52.1% | 6.3% | ||
| Q1 24 | 6.5% | 6.4% |
| Q4 25 | 2.16× | 0.89× | ||
| Q3 25 | 0.93× | 1.69× | ||
| Q2 25 | 1.44× | 1.92× | ||
| Q1 25 | 2.23× | 1.55× | ||
| Q4 24 | 2.66× | 1.45× | ||
| Q3 24 | 0.81× | 1.38× | ||
| Q2 24 | 1.84× | 1.89× | ||
| Q1 24 | 3.69× | 1.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
YUMC
| Revenue From External Customers | $2.1B | 75% |
| Pizza Hut | $540.0M | 19% |
| Corporate And Unallocated | $105.0M | 4% |
| Other Revenue | $45.0M | 2% |
| Franchise Fees And Income | $25.0M | 1% |
