Royal Caribbean Cruises Ltd (RCL)

Current ratio

		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
Total current assets	US$ in thousands	1,792,000	1,780,710	1,968,840	2,413,600	3,205,000	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	1,162,630	1,203,960	1,282,970	1,333,120
Total current liabilities	US$ in thousands	9,401,000	9,241,680	9,666,860	9,441,540	8,573,000	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	7,952,900	7,113,530	7,586,140	8,105,940
Current ratio		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	0.15	0.17	0.17	0.16

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,792,000K ÷ $9,401,000K
= 0.19

The current ratio of Royal Caribbean Group has been fluctuating over the past eight quarters, ranging from 0.19 to 0.40. The ratio indicates the company's ability to cover its short-term liabilities with its current assets. A higher current ratio signifies stronger liquidity and a better ability to meet its obligations.

In the most recent quarter, Q4 2023, the current ratio stood at 0.19, which indicates that the company may have challenges in meeting its short-term liabilities with its current assets. This suggests a potential liquidity strain.

The trend in the current ratio shows a decline over the quarters from Q1 2022 to Q4 2023. This could be a cause for concern as a decreasing current ratio may indicate a deterioration in the company's liquidity position. Management should closely monitor this trend and take necessary actions to improve liquidity and ensure the company can meet its short-term obligations.