Stock Analysis on Net

Royal Caribbean Cruises Ltd. (NYSE:RCL)

This company has been moved to the archive! The financial data has not been updated since July 29, 2022.

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Royal Caribbean Cruises Ltd., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Turnover Ratios
Inventory turnover 21.06 19.83 17.69 12.55 9.65 12.88 23.29 27.95 34.70 34.66 37.40 35.53 34.11 34.82 34.27 33.17 40.65 44.18 43.96
Receivables turnover 8.29 5.04 3.75 1.47 0.27 0.96 7.77 28.40 38.43 47.74 35.81 30.85 30.43 26.42 29.26 23.79 25.13 22.68 27.55
Payables turnover 6.34 5.33 4.87 3.87 3.33 4.51 7.82 9.46 8.01 4.36 10.76 11.02 10.77 11.06 10.78 11.68 11.84 10.77 13.60
Working capital turnover 0.28 0.09
Average No. Days
Average inventory processing period 17 18 21 29 38 28 16 13 11 11 10 10 11 10 11 11 9 8 8
Add: Average receivable collection period 44 72 97 248 1,349 380 47 13 9 8 10 12 12 14 12 15 15 16 13
Operating cycle 61 90 118 277 1,387 408 63 26 20 19 20 22 23 24 23 26 24 24 21
Less: Average payables payment period 58 69 75 94 110 81 47 39 46 84 34 33 34 33 34 31 31 34 27
Cash conversion cycle 3 21 43 183 1,277 327 16 -13 -26 -65 -14 -11 -11 -9 -11 -5 -7 -10 -6

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Royal Caribbean Cruises Ltd. inventory turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. Royal Caribbean Cruises Ltd. receivables turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Royal Caribbean Cruises Ltd. payables turnover ratio increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Royal Caribbean Cruises Ltd. number of days of inventory outstanding improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Royal Caribbean Cruises Ltd. number of days of receivables outstanding improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Royal Caribbean Cruises Ltd. operating cycle improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Royal Caribbean Cruises Ltd. number of days of payables outstanding decreased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Royal Caribbean Cruises Ltd. cash conversion cycle improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Inventory Turnover

Royal Caribbean Cruises Ltd., inventory turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Cruise operating expenses 1,690,862 1,184,769 1,135,504 813,691 424,830 283,487 265,260 308,609 680,420 1,510,819 1,481,519 1,623,038 1,544,504 1,413,704 1,360,413 1,411,364 1,314,411 1,176,019 1,145,701 1,318,269 1,256,785 1,175,824
Inventories 229,108 179,466 150,224 142,408 132,888 119,405 118,703 142,432 152,596 177,705 162,107 167,213 168,009 157,939 153,573 152,157 121,879 110,826 111,393 119,949 109,136 108,427
Short-term Activity Ratio
Inventory turnover1 21.06 19.83 17.69 12.55 9.65 12.88 23.29 27.95 34.70 34.66 37.40 35.53 34.11 34.82 34.27 33.17 40.65 44.18 43.96
Benchmarks
Inventory Turnover, Competitors2
Chipotle Mexican Grill Inc. 214.37 203.97 177.91 195.78 213.29 211.26 186.94 189.01 191.72 195.93 170.29
McDonald’s Corp. 183.32 165.10 144.74 156.70 159.38 155.54 136.62 158.76 166.87 195.07 154.59
Starbucks Corp. 11.79 13.24 12.89 12.64 12.25 12.45 11.90 11.80 13.06 13.72 12.44

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Inventory turnover = (Cruise operating expensesQ2 2022 + Cruise operating expensesQ1 2022 + Cruise operating expensesQ4 2021 + Cruise operating expensesQ3 2021) ÷ Inventories
= (1,690,862 + 1,184,769 + 1,135,504 + 813,691) ÷ 229,108 = 21.06

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Royal Caribbean Cruises Ltd. inventory turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Receivables Turnover

Royal Caribbean Cruises Ltd., receivables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Revenues 2,184,242 1,059,231 982,247 456,958 50,914 42,014 34,138 (33,688) 175,605 2,032,750 2,517,413 3,186,850 2,806,631 2,439,767 2,332,301 2,796,187 2,337,605 2,027,756 2,004,467 2,569,544 2,195,274 2,008,560
Trade and other receivables, net of allowances 565,014 506,160 408,067 397,232 345,055 226,740 284,149 165,225 205,921 220,876 305,821 348,991 340,921 374,982 324,507 385,297 355,729 387,862 318,641 285,332 263,992 292,975
Short-term Activity Ratio
Receivables turnover1 8.29 5.04 3.75 1.47 0.27 0.96 7.77 28.40 38.43 47.74 35.81 30.85 30.43 26.42 29.26 23.79 25.13 22.68 27.55
Benchmarks
Receivables Turnover, Competitors2
Airbnb Inc. 36.09 42.42 42.04
Booking Holdings Inc. 6.51 7.77 8.07 5.93 5.57 9.64 12.85 10.36 19.96 21.76 8.97
Chipotle Mexican Grill Inc. 97.41 87.64 75.77 94.54 90.40 92.26 57.27 83.86 82.63 89.64 69.36
McDonald’s Corp. 5.20 5.93 5.23 5.19 5.07 4.77 3.86 3.46 2.94 5.43 4.24
Starbucks Corp. 31.27 29.45 30.92 29.76 27.09 26.09 26.62 27.31 28.33 29.70 30.15

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Receivables turnover = (RevenuesQ2 2022 + RevenuesQ1 2022 + RevenuesQ4 2021 + RevenuesQ3 2021) ÷ Trade and other receivables, net of allowances
= (2,184,242 + 1,059,231 + 982,247 + 456,958) ÷ 565,014 = 8.29

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Royal Caribbean Cruises Ltd. receivables turnover ratio improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Payables Turnover

Royal Caribbean Cruises Ltd., payables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Cruise operating expenses 1,690,862 1,184,769 1,135,504 813,691 424,830 283,487 265,260 308,609 680,420 1,510,819 1,481,519 1,623,038 1,544,504 1,413,704 1,360,413 1,411,364 1,314,411 1,176,019 1,145,701 1,318,269 1,256,785 1,175,824
Accounts payable 760,864 668,158 545,978 461,411 384,683 340,872 353,422 421,023 661,427 1,414,394 563,706 538,949 531,788 497,180 488,212 432,086 418,616 454,576 360,113 384,536 376,508 362,992
Short-term Activity Ratio
Payables turnover1 6.34 5.33 4.87 3.87 3.33 4.51 7.82 9.46 8.01 4.36 10.76 11.02 10.77 11.06 10.78 11.68 11.84 10.77 13.60
Benchmarks
Payables Turnover, Competitors2
Booking Holdings Inc. 6.54 8.32 6.91 6.29 6.98 9.91 9.25 7.99 19.44 15.68 12.16
Chipotle Mexican Grill Inc. 39.82 36.05 35.79 32.44 38.26 34.83 40.52 30.59 28.88 35.06 38.37
McDonald’s Corp. 10.74 11.40 7.99 10.16 10.42 10.52 9.42 10.18 13.20 11.35 7.85
Starbucks Corp. 17.03 16.81 17.06 17.36 17.82 17.44 18.50 21.71 19.54 17.80 15.99

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Payables turnover = (Cruise operating expensesQ2 2022 + Cruise operating expensesQ1 2022 + Cruise operating expensesQ4 2021 + Cruise operating expensesQ3 2021) ÷ Accounts payable
= (1,690,862 + 1,184,769 + 1,135,504 + 813,691) ÷ 760,864 = 6.34

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Royal Caribbean Cruises Ltd. payables turnover ratio increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Working Capital Turnover

Royal Caribbean Cruises Ltd., working capital turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Current assets 3,560,888 3,176,939 3,600,271 4,167,381 5,009,230 5,649,969 4,311,747 3,531,795 4,684,440 4,594,201 1,162,628 1,203,957 1,282,967 1,333,122 1,242,044 1,359,000 1,099,896 1,034,526 843,028 798,152 767,641 756,689
Less: Current liabilities 11,719,382 8,007,164 7,285,683 5,242,920 4,679,715 3,314,830 4,537,121 4,625,465 4,736,908 8,982,370 7,952,896 7,113,534 7,586,140 8,105,943 7,112,165 7,072,942 5,502,350 5,195,154 4,790,264 5,057,112 5,285,953 5,271,742
Working capital (8,158,494) (4,830,225) (3,685,412) (1,075,539) 329,515 2,335,139 (225,374) (1,093,670) (52,468) (4,388,169) (6,790,268) (5,909,577) (6,303,173) (6,772,821) (5,870,121) (5,713,942) (4,402,454) (4,160,628) (3,947,236) (4,258,960) (4,518,312) (4,515,053)
 
Revenues 2,184,242 1,059,231 982,247 456,958 50,914 42,014 34,138 (33,688) 175,605 2,032,750 2,517,413 3,186,850 2,806,631 2,439,767 2,332,301 2,796,187 2,337,605 2,027,756 2,004,467 2,569,544 2,195,274 2,008,560
Short-term Activity Ratio
Working capital turnover1 0.28 0.09
Benchmarks
Working Capital Turnover, Competitors2
Airbnb Inc. 1.13 1.10 0.99
Booking Holdings Inc. 3.16 2.32 1.59 1.07 1.02 0.74 0.77 1.03 1.50 2.83 3.37
Chipotle Mexican Grill Inc. 37.95 29.78 14.86 10.78 11.18 10.14 10.01 14.20 13.16 13.89 13.77
McDonald’s Corp. 6.64 23.54 3.13 5.58 5.19 9.32 131.28 18.14 2.58
Starbucks Corp. 18.11 205.59 50.26 48.92 51.17

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Working capital turnover = (RevenuesQ2 2022 + RevenuesQ1 2022 + RevenuesQ4 2021 + RevenuesQ3 2021) ÷ Working capital
= (2,184,242 + 1,059,231 + 982,247 + 456,958) ÷ -8,158,494 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Royal Caribbean Cruises Ltd., average inventory processing period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Inventory turnover 21.06 19.83 17.69 12.55 9.65 12.88 23.29 27.95 34.70 34.66 37.40 35.53 34.11 34.82 34.27 33.17 40.65 44.18 43.96
Short-term Activity Ratio (no. days)
Average inventory processing period1 17 18 21 29 38 28 16 13 11 11 10 10 11 10 11 11 9 8 8
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chipotle Mexican Grill Inc. 2 2 2 2 2 2 2 2 2 2 2
McDonald’s Corp. 2 2 3 2 2 2 3 2 2 2 2
Starbucks Corp. 31 28 28 29 30 29 31 31 28 27 29

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 21.06 = 17

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Royal Caribbean Cruises Ltd. number of days of inventory outstanding improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Average Receivable Collection Period

Royal Caribbean Cruises Ltd., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Receivables turnover 8.29 5.04 3.75 1.47 0.27 0.96 7.77 28.40 38.43 47.74 35.81 30.85 30.43 26.42 29.26 23.79 25.13 22.68 27.55
Short-term Activity Ratio (no. days)
Average receivable collection period1 44 72 97 248 1,349 380 47 13 9 8 10 12 12 14 12 15 15 16 13
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Airbnb Inc. 10 9 9
Booking Holdings Inc. 56 47 45 62 66 38 28 35 18 17 41
Chipotle Mexican Grill Inc. 4 4 5 4 4 4 6 4 4 4 5
McDonald’s Corp. 70 62 70 70 72 76 95 106 124 67 86
Starbucks Corp. 12 12 12 12 13 14 14 13 13 12 12

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.29 = 44

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Royal Caribbean Cruises Ltd. number of days of receivables outstanding improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Operating Cycle

Royal Caribbean Cruises Ltd., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 17 18 21 29 38 28 16 13 11 11 10 10 11 10 11 11 9 8 8
Average receivable collection period 44 72 97 248 1,349 380 47 13 9 8 10 12 12 14 12 15 15 16 13
Short-term Activity Ratio
Operating cycle1 61 90 118 277 1,387 408 63 26 20 19 20 22 23 24 23 26 24 24 21
Benchmarks
Operating Cycle, Competitors2
Chipotle Mexican Grill Inc. 6 6 7 6 6 6 8 6 6 6 7
McDonald’s Corp. 72 64 73 72 74 78 98 108 126 69 88
Starbucks Corp. 43 40 40 41 43 43 45 44 41 39 41

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 17 + 44 = 61

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Royal Caribbean Cruises Ltd. operating cycle improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Average Payables Payment Period

Royal Caribbean Cruises Ltd., average payables payment period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Payables turnover 6.34 5.33 4.87 3.87 3.33 4.51 7.82 9.46 8.01 4.36 10.76 11.02 10.77 11.06 10.78 11.68 11.84 10.77 13.60
Short-term Activity Ratio (no. days)
Average payables payment period1 58 69 75 94 110 81 47 39 46 84 34 33 34 33 34 31 31 34 27
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Booking Holdings Inc. 56 44 53 58 52 37 39 46 19 23 30
Chipotle Mexican Grill Inc. 9 10 10 11 10 10 9 12 13 10 10
McDonald’s Corp. 34 32 46 36 35 35 39 36 28 32 46
Starbucks Corp. 21 22 21 21 20 21 20 17 19 21 23

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.34 = 58

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Royal Caribbean Cruises Ltd. number of days of payables outstanding decreased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Cash Conversion Cycle

Royal Caribbean Cruises Ltd., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 17 18 21 29 38 28 16 13 11 11 10 10 11 10 11 11 9 8 8
Average receivable collection period 44 72 97 248 1,349 380 47 13 9 8 10 12 12 14 12 15 15 16 13
Average payables payment period 58 69 75 94 110 81 47 39 46 84 34 33 34 33 34 31 31 34 27
Short-term Activity Ratio
Cash conversion cycle1 3 21 43 183 1,277 327 16 -13 -26 -65 -14 -11 -11 -9 -11 -5 -7 -10 -6
Benchmarks
Cash Conversion Cycle, Competitors2
Chipotle Mexican Grill Inc. -3 -4 -3 -5 -4 -4 -1 -6 -7 -4 -3
McDonald’s Corp. 38 32 27 36 39 43 59 72 98 37 42
Starbucks Corp. 22 18 19 20 23 22 25 27 22 18 18

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 17 + 4458 = 3

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Royal Caribbean Cruises Ltd. cash conversion cycle improved from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.