Stock Analysis on Net
Stock Analysis on Net

Royal Caribbean Cruises Ltd. (NYSE:RCL)

$22.49

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

Common-Size Balance Sheet: Assets
Quarterly Data

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Royal Caribbean Cruises Ltd., common-size consolidated balance sheet: assets (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
Cash and cash equivalents
Trade and other receivables, net of allowances
Inventories
Prepaid expenses and other assets
Derivative financial instruments
Current assets
Property and equipment, net
Operating lease right-of-use assets
Goodwill
Other assets, net of allowances
Non-current assets
Total assets

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).

Cash and cash equivalents
There is a notable increase in the proportion of cash and cash equivalents starting from the first quarter of 2020, where values sharply rose to double-digit percentages (above 9%) compared to sub-1% figures observed in prior years. This elevated level persisted through 2021, peaking near 15% in early 2021, before declining gradually toward mid-2022.
Trade and other receivables, net of allowances
Receivables as a percentage of total assets maintained mild fluctuations between approximately 1.0% and 1.6% throughout the entire period. A decline is noticeable during 2020, reaching a low near 0.5%, but values increased again during 2021 and into 2022, reflecting recovery in receivables relative to total assets.
Inventories
The inventory percentage of total assets remained relatively stable around 0.5% before 2020. During 2020, there was a downward trend toward 0.35%, with subsequent recovery through 2021 and accelerating growth into 2022, ultimately reaching 0.67%, which is the highest point within the dataset.
Prepaid expenses and other assets
Prepaid expenses and other assets showed moderate fluctuations ranging roughly from 0.5% to 1.7%. Levels peaked between late 2017 and early 2018 at above 1.7%, then experienced a significant decline during 2020. Starting mid-2021, there was a gradual increase, reaching approximately 1.45% by mid-2022.
Derivative financial instruments
The proportion of derivative financial instruments remained relatively low, generally under 0.5%. Presence is somewhat inconsistent with several missing data points. Slight upward tendencies appeared toward late 2021 and mid-2022, from around 0.2% to above 0.5%.
Current assets
Current assets showed a pronounced spike starting in early 2020, rising from around 4% pre-2020 to a peak near 16.5% in early 2021, before receding to approximately 10.5% by mid-2022. This significant increase likely relates to the rise in cash equivalents and adjusted receivables and prepaid expenses during this period.
Property and equipment, net
A declining trend is observable in the share of property and equipment as a component of total assets, dropping from above 90% in early 2017 down to around 77% in 2020. It gradually recovered after 2020, moving back toward above 81% by mid-2022, indicating a potential recovery or revaluation of fixed assets post-2020.
Operating lease right-of-use assets
Data for this category begins in 2019, showing a gradual decline from around 2.7% to approximately 1.6% by mid-2022, reflecting either amortization or changes in lease accounting and asset utilization.
Goodwill
Goodwill constituted a small but variable portion of total assets, increasing markedly around late 2017 and 2018 to over 5%, then sharply decreasing in early 2020 to below 3%, followed by stability and slight fluctuations around 2.4% during 2021 and 2022.
Other assets, net of allowances
This category remained relatively stable between 4.0% and 6.5%, peaking near 6.5% in late 2017 and gradually trending downward to about 4.3%-4.5% by mid-2022, indicating a slow decrease in miscellaneous assets relative to total asset base.
Non-current assets
Non-current assets consistently represented the vast majority of total assets, generally around 95%-96% until 2019. Starting in 2020, there was a sharp decline to the mid-80% range, recovering gradually through 2021 and 2022 to near 90%, mirroring the trends observed in property, equipment, and goodwill components.
Total assets
Expressed as 100% by definition, serving as the consistent denominator for all other asset categories throughout the entire period.