Royal Caribbean Cruises Ltd (RCL)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		46.72	34.74	37.88	35.44	31.91	38.01	34.02	35.74	35.62	28.18	26.65	34.07	55.24	57.06	61.81	56.86	54.78	51.54	49.51	50.44
DOH	days	7.81	10.51	9.64	10.30	11.44	9.60	10.73	10.21	10.25	12.95	13.69	10.71	6.61	6.40	5.91	6.42	6.66	7.08	7.37	7.24

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 46.72
= 7.81

Royal Caribbean Group's days of inventory on hand (DOH) has shown a decreasing trend over the past quarters, reflecting an improvement in managing inventory levels. The company had 18.94 days of inventory on hand in Q4 2023, which decreased from 19.10 days in the previous quarter. This indicates that the company is more efficient in selling its inventory compared to the previous period. Furthermore, the current DOH levels are significantly lower compared to the same quarter in the previous year, reflecting the company's efforts to optimize inventory management. Overall, the decreasing trend in DOH suggests that Royal Caribbean Group is effectively managing its inventory, which may lead to lower carrying costs and better control over stock levels.