Royal Caribbean Cruises Ltd (RCL)

Debt-to-equity 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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	7,563,000	7,045,000	6,008,000	5,151,000	4,724,000	4,422,980	3,363,650	2,851,620	2,868,810	3,205,420	3,398,100	3,988,930	5,085,560	6,467,500	7,884,020	9,172,380	8,760,670	8,328,590	8,963,900	10,231,800
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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 of Royal Caribbean Cruises Ltd has consistently remained at 0.00 for the period from March 31, 2020, to December 31, 2024. This indicates that the company does not have any long-term debt in relation to its equity during this period. A debt-to-equity ratio of 0.00 suggests that the company is primarily financed by equity rather than debt, which can be seen as a positive sign from a financial risk perspective. It shows that Royal Caribbean Cruises Ltd has a strong financial position and is not overly reliant on borrowing to fund its operations and expansion. However, it is important to note that while a low debt-to-equity ratio can indicate financial strength, it may also mean missed opportunities for leveraging debt to potentially increase returns for shareholders. Overall, the stable 0.00 debt-to-equity ratio of Royal Caribbean Cruises Ltd reflects a conservative capital structure and a cautious approach to managing financial liabilities.