Royal Caribbean Cruises Ltd (RCL)

Quick 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
Cash	US$ in thousands	388,000	418,000	391,000	437,000	497,000	600,117	726,424	1,226,870	1,935,000	1,566,210	2,102,200	1,968,500	2,701,770	3,289,330	4,250,370	5,091,460	3,684,470	3,016,790	4,146,690	3,890,810
Short-term investments	US$ in thousands	—	—	—	—	25,000	—	—	—	—	—	—	178,161	54,184	70,407	56,230	149	261	—	—	—
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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
Quick ratio		0.04	0.04	0.04	0.04	0.06	0.06	0.08	0.13	0.23	0.16	0.18	0.27	0.38	0.64	0.92	1.54	0.81	0.65	0.88	0.43

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($388,000K + $—K + $—K) ÷ $9,817,000K
= 0.04

The quick ratio of Royal Caribbean Cruises Ltd has fluctuated over the past few years, indicating varying levels of the company's ability to meet its short-term obligations with its most liquid assets excluding inventory.

Starting at 0.43 as of March 31, 2020, the quick ratio improved steadily, reaching a peak of 1.54 on March 31, 2021. This significant increase suggests that the company had a strong ability to cover its short-term liabilities with its quick assets during that period.

However, the quick ratio began to decline thereafter, falling to 0.06 by December 31, 2023. This sharp decrease indicates a potential liquidity strain for the company, as its ability to meet short-term obligations with readily available assets decreased significantly.

The quick ratio remained low at 0.04 from March 31, 2024, to December 31, 2024, suggesting that Royal Caribbean Cruises Ltd may have faced challenges in maintaining sufficient liquidity to cover its short-term liabilities during this period.

Overall, the fluctuating trend in the quick ratio indicates the importance of monitoring the company's liquidity position closely, as it reflects changes in the proportion of liquid assets available to cover short-term obligations.