Royal Caribbean Cruises Ltd (RCL)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	2,877,996	2,323,745	1,357,070	366,845	-763,976	-1,811,167	-3,115,412	-3,920,298	-3,870,321	-3,855,131	-3,845,425	-4,104,385	-4,601,564	-3,285,589	-1,398,683	457,460	2,082,701	2,147,303	2,056,244	1,939,486
Total assets	US$ in thousands	35,131,000	32,768,700	32,923,300	32,870,500	33,776,000	33,464,200	33,943,200	32,940,000	32,258,400	32,665,600	33,692,000	34,347,100	32,465,200	31,828,800	33,306,500	33,445,100	30,320,300	29,825,500	29,809,000	28,720,000
Operating ROA		8.19%	7.09%	4.12%	1.12%	-2.26%	-5.41%	-9.18%	-11.90%	-12.00%	-11.80%	-11.41%	-11.95%	-14.17%	-10.32%	-4.20%	1.37%	6.87%	7.20%	6.90%	6.75%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $2,877,996K ÷ $35,131,000K
= 8.19%

From the data provided, Royal Caribbean Group's operating return on assets (operating ROA) has shown a positive trend over the past eight quarters. The operating ROA increased steadily from negative figures in Q1 2022 to reach 8.19% in Q4 2023, reflecting improved operational efficiency and profitability.

This indicates that the company has been more effective in generating profits from its assets over the period. The upward trend in operating ROA suggests that Royal Caribbean Group has been able to effectively utilize its assets to generate operating income, which is a positive sign for investors and stakeholders.

Overall, the consistent improvement in operating ROA over the quarters indicates the company's ability to efficiently manage its assets and generate higher returns from its operations. It shows that Royal Caribbean Group has been successful in enhancing its operational performance and financial health.