Total Asset Turnover
since 2005
Calculation
Royal Caribbean Cruises Ltd., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.05 | = | 1,532,133) | ÷ | 32,258,355) |
| Dec 31, 2020 | 0.07 | = | 2,208,805) | ÷ | 32,465,187) |
| Dec 31, 2019 | 0.36 | = | 10,950,661) | ÷ | 30,320,284) |
| Dec 31, 2018 | 0.34 | = | 9,493,849) | ÷ | 27,698,270) |
| Dec 31, 2017 | 0.39 | = | 8,777,845) | ÷ | 22,296,317) |
| Dec 31, 2016 | 0.38 | = | 8,496,401) | ÷ | 22,310,324) |
| Dec 31, 2015 | 0.40 | = | 8,299,074) | ÷ | 20,921,855) |
| Dec 31, 2014 | 0.39 | = | 8,073,855) | ÷ | 20,713,190) |
| Dec 31, 2013 | 0.40 | = | 7,959,894) | ÷ | 20,072,947) |
| Dec 31, 2012 | 0.39 | = | 7,688,024) | ÷ | 19,827,930) |
| Dec 31, 2011 | 0.38 | = | 7,537,263) | ÷ | 19,804,405) |
| Dec 31, 2010 | 0.34 | = | 6,752,504) | ÷ | 19,694,904) |
| Dec 31, 2009 | 0.32 | = | 5,889,826) | ÷ | 18,233,494) |
| Dec 31, 2008 | 0.40 | = | 6,532,525) | ÷ | 16,463,310) |
| Dec 31, 2007 | 0.41 | = | 6,149,139) | ÷ | 14,982,281) |
| Dec 31, 2006 | 0.39 | = | 5,229,584) | ÷ | 13,393,088) |
| Dec 31, 2005 | 0.44 | = | 4,903,174) | ÷ | 11,255,771) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The analysis of the financial data reveals several notable trends over the observed periods. Revenues generally exhibited an upward trajectory from 2005 through 2019, increasing from approximately 4.9 billion US dollars to over 10.9 billion US dollars. This growth was relatively consistent, with occasional moderate fluctuations. However, a significant decline is evident starting in 2020, where revenues dropped sharply to around 2.2 billion US dollars and further decreased to approximately 1.5 billion US dollars in 2021, representing a severe contraction potentially attributable to external factors impacting operational capacity.
Total assets demonstrated a continuous expansion over the entire span, growing from about 11.3 billion US dollars in 2005 to well over 32.2 billion US dollars by 2021. This steady asset base increase indicates ongoing investment and capital accumulation despite the challenges reflected in revenue performance.
The total asset turnover ratio, which measures efficiency in utilizing assets to generate revenues, exhibited relative stability in the earlier years, typically ranging from 0.32 to 0.44 between 2005 and 2019. This suggests consistent operational efficiency over this period. However, the ratio experienced drastic declines in the last two years, plummeting to 0.07 in 2020 and 0.05 in 2021. This sharp downturn signifies a reduced capacity to generate sales from the existing asset base during these years, consistent with the noted revenue decreases.
- Revenue Trends
- Progressive growth from 4.9 billion to over 10.9 billion US dollars until 2019, followed by a pronounced drop in 2020 and 2021.
- Asset Base Evolution
- Steady increase in total assets across the period, reaching over 32 billion US dollars by 2021, reflecting sustained capital investment.
- Asset Efficiency
- Consistent asset turnover ratios in the range of 0.32 to 0.44 before 2020, then a significant contraction to levels below 0.1 in 2020 and 2021.
In summary, the data indicates a historical pattern of growth and operational stability, disrupted sharply in recent years by a downturn negatively affecting revenue generation and asset utilization efficiency despite a growing asset base.
Comparison to Competitors
Royal Caribbean Cruises Ltd., total asset turnover, long-term trends, comparison to competitors
| Royal Caribbean Cruises Ltd. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | 0.05 | 0.44 | 0.46 | 1.13 | 0.72 | 0.43 | 0.93 |
| Dec 31, 2020 | 0.07 | 0.32 | 0.31 | 1.00 | 0.45 | 0.36 | 0.80 |
| Dec 31, 2019 | 0.36 | — | 0.70 | 1.09 | — | 0.44 | 1.38 |
| Dec 31, 2018 | 0.34 | — | 0.64 | 2.15 | — | 0.64 | 1.02 |
| Dec 31, 2017 | 0.39 | — | 0.50 | 2.19 | — | 0.68 | 1.56 |
| Dec 31, 2016 | 0.38 | — | 0.54 | 1.93 | — | 0.79 | 1.49 |
| Dec 31, 2015 | 0.40 | — | 0.53 | 1.65 | — | 0.67 | 1.54 |
| Dec 31, 2014 | 0.39 | — | 0.57 | 1.61 | — | 0.80 | 1.53 |
| Dec 31, 2013 | 0.40 | — | 0.65 | 1.60 | — | 0.77 | 1.29 |
| Dec 31, 2012 | 0.39 | — | 0.80 | 1.64 | — | 0.78 | 1.62 |
| Dec 31, 2011 | 0.38 | — | 1.10 | 1.59 | — | 0.82 | 1.59 |
| Dec 31, 2010 | 0.34 | — | 1.06 | 1.64 | — | 0.75 | 1.68 |
| Dec 31, 2009 | 0.32 | — | 1.27 | 1.58 | — | 0.75 | 1.75 |
| Dec 31, 2008 | 0.40 | — | 1.40 | 1.61 | — | 0.83 | 1.83 |
| Dec 31, 2007 | 0.41 | — | 1.04 | 1.50 | — | 0.78 | 1.76 |
| Dec 31, 2006 | 0.39 | — | 1.02 | 1.36 | — | 0.74 | 1.76 |
| Dec 31, 2005 | 0.44 | — | 1.28 | 1.60 | — | 0.68 | 1.81 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Services)
Royal Caribbean Cruises Ltd., total asset turnover, long-term trends, comparison to sector (consumer services)
| Royal Caribbean Cruises Ltd. | Consumer Services | |
|---|---|---|
| Dec 31, 2021 | 0.05 | 0.60 |
| Dec 31, 2020 | 0.07 | 0.49 |
| Dec 31, 2019 | 0.36 | 0.73 |
| Dec 31, 2018 | 0.34 | 0.80 |
| Dec 31, 2017 | 0.39 | 0.82 |
| Dec 31, 2016 | 0.38 | 0.90 |
| Dec 31, 2015 | 0.40 | 0.83 |
| Dec 31, 2014 | 0.39 | 0.90 |
| Dec 31, 2013 | 0.40 | 0.87 |
| Dec 31, 2012 | 0.39 | 0.94 |
| Dec 31, 2011 | 0.38 | 0.99 |
| Dec 31, 2010 | 0.34 | 0.94 |
| Dec 31, 2009 | 0.32 | 0.94 |
| Dec 31, 2008 | 0.40 | 1.02 |
| Dec 31, 2007 | 0.41 | 0.94 |
| Dec 31, 2006 | 0.39 | 0.89 |
| Dec 31, 2005 | 0.44 | 0.82 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
Royal Caribbean Cruises Ltd., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| Royal Caribbean Cruises Ltd. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2021 | 0.05 | 0.88 |
| Dec 31, 2020 | 0.07 | 0.84 |
| Dec 31, 2019 | 0.36 | 0.94 |
| Dec 31, 2018 | 0.34 | 0.96 |
| Dec 31, 2017 | 0.39 | 0.93 |
| Dec 31, 2016 | 0.38 | 0.96 |
| Dec 31, 2015 | 0.40 | 0.98 |
| Dec 31, 2014 | 0.39 | 1.02 |
| Dec 31, 2013 | 0.40 | 1.04 |
| Dec 31, 2012 | 0.39 | 1.06 |
| Dec 31, 2011 | 0.38 | 1.08 |
| Dec 31, 2010 | 0.34 | 1.04 |
| Dec 31, 2009 | 0.32 | 0.94 |
| Dec 31, 2008 | 0.40 | 0.96 |
| Dec 31, 2007 | 0.41 | 0.88 |
| Dec 31, 2006 | 0.39 | 0.82 |
| Dec 31, 2005 | 0.44 | 0.85 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).