Royal Caribbean Cruises Ltd (RCL)

Current ratio

		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
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
Current ratio		0.17	0.19	0.19	0.19	0.19	0.19	0.20	0.26	0.37	0.29	0.30	0.40	0.49	0.79	1.07	1.70	0.95	0.76	0.99	0.51

December 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,705,000K ÷ $9,817,000K
= 0.17

The current ratio of Royal Caribbean Cruises Ltd has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio was below 1 for most of the period, indicating that the company may have had difficulty meeting its short-term obligations with its current assets alone. There was an improvement in the current ratio from March 31, 2021 (1.70) to June 30, 2021 (1.07), indicating that the company had a better ability to cover its current liabilities with its current assets during that period.

However, the current ratio deteriorated again after June 30, 2021, reaching a low of 0.17 by December 31, 2024. This downward trend suggests that the company may be facing challenges in managing its short-term liquidity and meeting its immediate financial obligations.

Overall, the current ratio of Royal Caribbean Cruises Ltd has been volatile, with periods of improvement followed by declines. Investors and stakeholders should closely monitor this ratio to assess the company's short-term liquidity position and ability to navigate financial challenges in the future.