Royal Caribbean Cruises Ltd (RCL)

Number of days of payables

		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
Payables turnover		14.63	11.73	11.82	10.97	11.05	14.46	10.24	9.60	9.80	8.70	9.21	11.94	18.55	19.30	14.26	7.14	15.75	15.99	15.64	16.02
Number of days of payables	days	24.95	31.12	30.88	33.27	33.04	25.25	35.63	38.02	37.24	41.97	39.64	30.58	19.67	18.91	25.60	51.10	23.17	22.83	23.33	22.78

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 14.63
= 24.95

The number of days of payables for Royal Caribbean Group has shown a decreasing trend over the past four quarters. In Q4 2023, the number of days of payables was 60.49 days, which is lower compared to the previous quarter at 55.68 days. This decline indicates that the company is taking fewer days to pay off its short-term obligations to suppliers and vendors.

Comparing the current quarter to the same quarter in the previous year, there has been a significant improvement. In Q4 2022, the number of days of payables was 64.16 days, demonstrating an enhanced efficiency in managing payables.

Looking back at the historical data, Royal Caribbean Group experienced a notable increase in the number of days of payables during Q1 and Q2 of 2022, reaching 183.37 days at its peak. However, the company has made considerable progress in managing its payables since then, as evidenced by the subsequent decreasing trend.

Overall, the decreasing number of days of payables for Royal Caribbean Group suggests an improvement in managing its short-term payment obligations to suppliers and vendors, which could positively impact the company's cash flow and liquidity position in the future.