Royal Caribbean Cruises Ltd (RCL)

Total asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	16,484,000	13,900,000	8,840,540	1,532,130	2,208,800
Total assets	US$ in thousands	37,070,000	35,131,000	33,776,400	32,258,400	32,465,200
Total asset turnover		0.44	0.40	0.26	0.05	0.07

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $16,484,000K ÷ $37,070,000K
= 0.44

The total asset turnover ratio of Royal Caribbean Cruises Ltd has shown a fluctuating trend over the years based on the provided data. In December 31, 2020, the company had a total asset turnover of 0.07, which decreased to 0.05 by December 31, 2021. However, there was a significant improvement in efficiency in utilizing assets as the ratio surged to 0.26 by December 31, 2022, indicating the company generated $0.26 in revenue for every dollar of assets. This positive trend continued in the subsequent years with a ratio of 0.40 in December 31, 2023, and further improvement to 0.44 by December 31, 2024. Overall, the increasing trend in the total asset turnover ratio suggests that Royal Caribbean Cruises Ltd has been able to effectively leverage its assets to generate sales revenue, indicating improved operational efficiency and potential for growth.