Royal Caribbean Cruises Ltd (RCL)

Debt-to-equity ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	7,563,000	4,724,000	2,868,810	5,085,560	8,760,670
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $7,563,000K
= 0.00

The debt-to-equity ratio for Royal Caribbean Cruises Ltd has consistently been 0.00 for the years 2020, 2021, 2022, 2023, and 2024. This indicates that the company has no debt relative to its equity during these periods. It suggests a strong financial position with lower financial risk as there is no significant reliance on debt financing. The company's ability to maintain a low debt-to-equity ratio may indicate effective management of its capital structure and a conservative approach towards borrowing.