Royal Caribbean Cruises Ltd (RCL)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	12,346,000	7,385,240	100,364	1,037,510	10,564,600
Total current assets	US$ in thousands	1,792,000	3,205,000	3,600,270	4,311,750	1,162,630
Total current liabilities	US$ in thousands	9,401,000	8,573,000	7,285,680	4,537,120	7,952,900
Working capital turnover		—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $12,346,000K ÷ ($1,792,000K – $9,401,000K)
= —

To calculate Royal Caribbean Group's working capital turnover, we first need to determine the formula for this financial ratio. The working capital turnover ratio measures how efficiently the company is using its working capital to generate revenue. The formula for working capital turnover is:

Working Capital Turnover = Net Sales / Average Working Capital

Since the table provided only includes the data for Net Sales, we need to calculate the Average Working Capital for each year to compute the working capital turnover ratio. The Average Working Capital can be calculated as:

Average Working Capital = (Working Capital at the Beginning of the Year + Working Capital at the End of the Year) / 2

After calculating the Average Working Capital for each year based on the given data, we can then compute the working capital turnover for each year. This ratio will provide insights into how efficiently Royal Caribbean Group is utilizing its working capital to generate sales.

Please note that without the specific working capital figures for each year, we cannot provide an exact calculation of the working capital turnover ratio. However, once the necessary data is available, the calculation can be performed to evaluate the company's operational efficiency in managing its working capital.