Royal Caribbean Cruises Ltd (RCL)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	16,485,000	16,055,000	15,329,450	14,742,430	13,899,580	13,172,570	12,005,200	10,666,460	8,840,540	7,218,797	4,682,675	2,549,349	1,532,133	584,025	93,379	218,070	2,208,806	4,692,077	7,912,615	10,543,640
Total current assets	US$ in thousands	1,705,000	1,831,000	1,886,000	1,870,000	1,792,000	1,780,710	1,968,840	2,413,600	3,205,010	2,837,050	3,560,890	3,176,940	3,600,270	4,167,380	5,009,230	5,649,970	4,311,750	3,531,800	4,684,440	4,594,200
Total current liabilities	US$ in thousands	9,817,000	9,631,000	9,894,000	9,905,000	9,401,000	9,241,680	9,666,860	9,441,540	8,573,460	9,793,990	11,719,400	8,007,160	7,285,680	5,242,920	4,679,720	3,314,830	4,537,120	4,625,460	4,736,910	8,982,370
Working capital turnover		—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.28	0.09	—	—	—	—

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $16,485,000K ÷ ($1,705,000K – $9,817,000K)
= —

The working capital turnover ratio for Royal Caribbean Cruises Ltd shows a fluctuating trend over the periods provided.

For the period ending March 31, 2021, the working capital turnover ratio was 0.09, indicating that the company generated $0.09 in net sales for every dollar of working capital invested during that quarter. This suggests that the company may not be utilizing its working capital efficiently to generate sales.

In the following quarter ending June 30, 2021, the working capital turnover ratio improved significantly to 0.28, showing an increase in the efficiency of utilizing working capital to generate sales. This could indicate better management of working capital during that period.

However, for the subsequent periods up to December 31, 2021, the working capital turnover ratio is marked as "—" indicating that the data is not available or the calculation is not meaningful. Without this information, it is difficult to assess the efficiency of working capital utilization during those quarters.

Therefore, based on the available data points, it appears that Royal Caribbean Cruises Ltd experienced a mixed performance in terms of working capital turnover, with a notable improvement in efficiency in the June 30, 2021 quarter. Further data would be needed to provide a more comprehensive analysis of the company's working capital turnover ratio.