Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Royal Caribbean Cruises Ltd., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Royal Caribbean Cruises Ltd. net fixed asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Royal Caribbean Cruises Ltd. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 and from 2020 to 2021. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Royal Caribbean Cruises Ltd. total asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Royal Caribbean Cruises Ltd. equity turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Net Fixed Asset Turnover
Royal Caribbean Cruises Ltd., net fixed asset turnover 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) | ||||||
| Revenues | 1,532,133) | 2,208,805) | 10,950,661) | 9,493,849) | 8,777,845) | |
| Property and equipment, net | 25,907,949) | 25,246,595) | 25,466,808) | 23,466,163) | 19,735,180) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 0.06 | 0.09 | 0.43 | 0.40 | 0.44 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | 38.27 | 12.50 | — | — | — | |
| Booking Holdings Inc. | 13.33 | 8.99 | 20.41 | — | — | |
| Chipotle Mexican Grill Inc. | 4.27 | 3.78 | 3.83 | — | — | |
| McDonald’s Corp. | 0.94 | 0.77 | 0.87 | — | — | |
| Starbucks Corp. | 4.56 | 3.77 | 4.12 | 4.17 | — | |
| Net Fixed Asset Turnover, Sector | ||||||
| Consumer Services | 2.27 | 1.74 | 2.08 | — | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Discretionary | 3.31 | 3.37 | 3.71 | — | — | |
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
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 1,532,133 ÷ 25,907,949 = 0.06
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Royal Caribbean Cruises Ltd. net fixed asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Royal Caribbean Cruises Ltd., net fixed asset turnover (including operating lease, right-of-use asset) 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) | ||||||
| Revenues | 1,532,133) | 2,208,805) | 10,950,661) | 9,493,849) | 8,777,845) | |
| Property and equipment, net | 25,907,949) | 25,246,595) | 25,466,808) | 23,466,163) | 19,735,180) | |
| Operating lease right-of-use assets | 542,128) | 599,985) | 687,555) | —) | —) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 26,450,077) | 25,846,580) | 26,154,363) | 23,466,163) | 19,735,180) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 0.06 | 0.09 | 0.42 | 0.40 | 0.44 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Airbnb Inc. | 13.98 | 5.16 | — | — | — | |
| Booking Holdings Inc. | 8.31 | 5.29 | 11.09 | — | — | |
| Chipotle Mexican Grill Inc. | 1.54 | 1.38 | 1.41 | — | — | |
| McDonald’s Corp. | 0.61 | 0.50 | 0.56 | — | — | |
| Starbucks Corp. | 1.99 | 1.64 | 4.12 | 4.17 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Consumer Services | 1.29 | 0.99 | 1.39 | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Discretionary | 2.51 | 2.57 | 3.13 | — | — | |
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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 1,532,133 ÷ 26,450,077 = 0.06
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Royal Caribbean Cruises Ltd. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 and from 2020 to 2021. |
Total Asset Turnover
Royal Caribbean Cruises Ltd., total asset turnover 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) | ||||||
| Revenues | 1,532,133) | 2,208,805) | 10,950,661) | 9,493,849) | 8,777,845) | |
| Total assets | 32,258,355) | 32,465,187) | 30,320,284) | 27,698,270) | 22,296,317) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.05 | 0.07 | 0.36 | 0.34 | 0.39 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | 0.44 | 0.32 | — | — | — | |
| Booking Holdings Inc. | 0.46 | 0.31 | 0.70 | — | — | |
| Chipotle Mexican Grill Inc. | 1.13 | 1.00 | 1.09 | — | — | |
| McDonald’s Corp. | 0.43 | 0.36 | 0.44 | — | — | |
| Starbucks Corp. | 0.93 | 0.80 | 1.38 | 1.02 | — | |
| Total Asset Turnover, Sector | ||||||
| Consumer Services | 0.59 | 0.49 | 0.73 | — | — | |
| Total Asset Turnover, Industry | ||||||
| Consumer Discretionary | 0.88 | 0.84 | 0.94 | — | — | |
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
Total asset turnover = Revenues ÷ Total assets
= 1,532,133 ÷ 32,258,355 = 0.05
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Royal Caribbean Cruises Ltd. total asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Equity Turnover
Royal Caribbean Cruises Ltd., equity turnover 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) | ||||||
| Revenues | 1,532,133) | 2,208,805) | 10,950,661) | 9,493,849) | 8,777,845) | |
| Shareholders’ equity | 5,085,556) | 8,760,669) | 12,163,846) | 11,105,461) | 10,702,303) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 0.30 | 0.25 | 0.90 | 0.85 | 0.82 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Airbnb Inc. | 1.25 | 1.16 | — | — | — | |
| Booking Holdings Inc. | 1.77 | 1.39 | 2.54 | — | — | |
| Chipotle Mexican Grill Inc. | 3.29 | 2.96 | 3.32 | — | — | |
| McDonald’s Corp. | — | — | — | — | — | |
| Starbucks Corp. | — | — | — | 21.14 | — | |
| Equity Turnover, Sector | ||||||
| Consumer Services | 23.06 | — | — | — | — | |
| Equity Turnover, Industry | ||||||
| Consumer Discretionary | 3.74 | 4.82 | 5.84 | — | — | |
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
Equity turnover = Revenues ÷ Shareholders’ equity
= 1,532,133 ÷ 5,085,556 = 0.30
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Royal Caribbean Cruises Ltd. equity turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |