Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Royal Caribbean Cruises Ltd., liquidity ratios
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.49 | 0.95 | 0.15 | 0.17 | 0.18 | |
| Quick ratio | 0.43 | 0.87 | 0.07 | 0.09 | 0.09 | |
| Cash ratio | 0.37 | 0.81 | 0.03 | 0.04 | 0.03 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Royal Caribbean Cruises Ltd. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Royal Caribbean Cruises Ltd. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Royal Caribbean Cruises Ltd. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Current Ratio
Royal Caribbean Cruises Ltd., current ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 3,600,271) | 4,311,747) | 1,162,628) | 1,242,044) | 843,028) | |
| Current liabilities | 7,285,683) | 4,537,121) | 7,952,896) | 7,112,165) | 4,790,264) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.49 | 0.95 | 0.15 | 0.17 | 0.18 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Airbnb Inc. | 1.95 | 1.73 | — | — | — | |
| Booking Holdings Inc. | 2.10 | 3.56 | 1.83 | — | — | |
| Chipotle Mexican Grill Inc. | 1.58 | 1.73 | 1.61 | — | — | |
| McDonald’s Corp. | 1.78 | 1.01 | 0.98 | — | — | |
| Starbucks Corp. | 1.20 | 1.06 | 0.92 | — | — | |
| Current Ratio, Sector | ||||||
| Consumer Services | 1.71 | 1.60 | 1.27 | — | — | |
| Current Ratio, Industry | ||||||
| Consumer Discretionary | 1.25 | 1.18 | 1.10 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,600,271 ÷ 7,285,683 = 0.49
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Royal Caribbean Cruises Ltd. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Quick Ratio
Royal Caribbean Cruises Ltd., quick ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 2,701,770) | 3,684,474) | 243,738) | 287,852) | 120,112) | |
| Trade and other receivables, net of allowances | 408,067) | 284,149) | 305,821) | 324,507) | 318,641) | |
| Total quick assets | 3,109,837) | 3,968,623) | 549,559) | 612,359) | 438,753) | |
| Current liabilities | 7,285,683) | 4,537,121) | 7,952,896) | 7,112,165) | 4,790,264) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.43 | 0.87 | 0.07 | 0.09 | 0.09 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Airbnb Inc. | 1.92 | 1.70 | — | — | — | |
| Booking Holdings Inc. | 2.00 | 3.38 | 1.68 | — | — | |
| Chipotle Mexican Grill Inc. | 1.35 | 1.28 | 1.44 | — | — | |
| McDonald’s Corp. | 1.64 | 0.90 | 0.86 | — | — | |
| Starbucks Corp. | 0.93 | 0.75 | 0.59 | — | — | |
| Quick Ratio, Sector | ||||||
| Consumer Services | 1.56 | 1.42 | 1.06 | — | — | |
| Quick Ratio, Industry | ||||||
| Consumer Discretionary | 0.92 | 0.88 | 0.79 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 3,109,837 ÷ 7,285,683 = 0.43
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Royal Caribbean Cruises Ltd. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Cash Ratio
Royal Caribbean Cruises Ltd., cash ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 2,701,770) | 3,684,474) | 243,738) | 287,852) | 120,112) | |
| Total cash assets | 2,701,770) | 3,684,474) | 243,738) | 287,852) | 120,112) | |
| Current liabilities | 7,285,683) | 4,537,121) | 7,952,896) | 7,112,165) | 4,790,264) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.37 | 0.81 | 0.03 | 0.04 | 0.03 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Airbnb Inc. | 1.31 | 1.24 | — | — | — | |
| Booking Holdings Inc. | 1.79 | 3.23 | 1.36 | — | — | |
| Chipotle Mexican Grill Inc. | 1.23 | 1.16 | 1.32 | — | — | |
| McDonald’s Corp. | 1.17 | 0.56 | 0.25 | — | — | |
| Starbucks Corp. | 0.81 | 0.63 | 0.45 | — | — | |
| Cash Ratio, Sector | ||||||
| Consumer Services | 1.24 | 1.16 | 0.75 | — | — | |
| Cash Ratio, Industry | ||||||
| Consumer Discretionary | 0.71 | 0.69 | 0.57 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,701,770 ÷ 7,285,683 = 0.37
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Royal Caribbean Cruises Ltd. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |