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Royal Caribbean Group Piotroski F-Score

: 2 (As of Today)
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Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Royal Caribbean Group has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Royal Caribbean Group's Piotroski F-Score or its related term are showing as below:

NYSE:RCL' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 2

2
8

During the past 13 years, the highest Piotroski F-Score of Royal Caribbean Group was 8. The lowest was 2. And the median was 6.


Royal Caribbean Group Piotroski F-Score Historical Data

The historical data trend for Royal Caribbean Group's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Royal Caribbean Group Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 7.00 6.00 2.00

Royal Caribbean Group Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 2.00 2.00 2.00 2.00

Competitive Comparison

For the Travel Services subindustry, Royal Caribbean Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Royal Caribbean Group Piotroski F-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Royal Caribbean Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Royal Caribbean Group's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was -1346.756 + -1366.935 + -1131.722 + -1347.255 = $-5,192.67 Mil.
Cash Flow from Operations was -857.432 + -825.398 + -809.183 + -460.371 = $-2,952.38 Mil.
Revenue was -33.688 + 34.138 + 42.014 + 50.914 = $93.38 Mil.
Gross Profit was -342.297 + -231.122 + -241.473 + -373.916 = $-1,188.81 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(33306.543 + 31828.81 + 32465.187 + 34347.073 + 33691.962) / 5 = $33127.915 Mil.
Total Assets at the begining of this year (Jun20) was $33,306.54 Mil.
Long-Term Debt & Capital Lease Obligation was $20,612.34 Mil.
Total Current Assets was $5,009.23 Mil.
Total Current Liabilities was $4,679.72 Mil.
Net Income was 883.24 + 273.136 + -1444.479 + -1639.292 = $-1,927.40 Mil.

Revenue was 3186.85 + 2517.413 + 2032.75 + 175.605 = $7,912.62 Mil.
Gross Profit was 1563.812 + 1035.894 + 521.931 + -504.815 = $2,616.82 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(29808.962 + 29825.461 + 30320.284 + 33445.053 + 33306.543) / 5 = $31341.2606 Mil.
Total Assets at the begining of last year (Jun19) was $29,808.96 Mil.
Long-Term Debt & Capital Lease Obligation was $18,322.82 Mil.
Total Current Assets was $4,684.44 Mil.
Total Current Liabilities was $4,736.91 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Royal Caribbean Group's current Net Income (TTM) was -5,192.67. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Royal Caribbean Group's current Cash Flow from Operations (TTM) was -2,952.38. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun20)
=-5192.668/33306.543
=-0.15590534

ROA (Last Year)=Net Income/Total Assets (Jun19)
=-1927.395/29808.962
=-0.06465824

Royal Caribbean Group's return on assets of this year was -0.15590534. Royal Caribbean Group's return on assets of last year was -0.06465824. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Royal Caribbean Group's current Net Income (TTM) was -5,192.67. Royal Caribbean Group's current Cash Flow from Operations (TTM) was -2,952.38. ==> -2,952.38 > -5,192.67 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=20612.34/33127.915
=0.62220457

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=18322.816/31341.2606
=0.58462282

Royal Caribbean Group's gearing of this year was 0.62220457. Royal Caribbean Group's gearing of last year was 0.58462282. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun21)=Total Current Assets/Total Current Liabilities
=5009.23/4679.715
=1.07041348

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=4684.44/4736.908
=0.98892358

Royal Caribbean Group's current ratio of this year was 1.07041348. Royal Caribbean Group's current ratio of last year was 0.98892358. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Royal Caribbean Group's number of shares in issue this year was 254.577. Royal Caribbean Group's number of shares in issue last year was 209.385. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=-1188.808/93.378
=-12.73113581

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2616.822/7912.618
=0.33071507

Royal Caribbean Group's gross margin of this year was -12.73113581. Royal Caribbean Group's gross margin of last year was 0.33071507. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun20)
=93.378/33306.543
=0.00280359

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=7912.618/29808.962
=0.26544426

Royal Caribbean Group's asset turnover of this year was 0.00280359. Royal Caribbean Group's asset turnover of last year was 0.26544426. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+0+1+0+0+0
=2

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Royal Caribbean Group has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Royal Caribbean Group  (NYSE:RCL) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Royal Caribbean Group Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Royal Caribbean Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Royal Caribbean Group Business Description

Royal Caribbean Group logo
Industry
Consumer Cyclical » Travel & Leisure NAICS : 483111 SIC : 4489
Traded in Other Exchanges
Address
1050 Caribbean Way, Miami, FL, USA, 33132
Royal Caribbean is the world's second- largest cruise company, operating more than 60 ships across five global and partner brands in the cruise vacation industry. Brands the company operates include Royal Caribbean International, Celebrity Cruises, and Silversea. The company also has a 50% investment in a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises, allowing it to compete on the basis of innovation, quality of ships and service, variety of itineraries, choice of destinations, and price. The company is completed the divestiture of its Azamara brand in the first quarter of 2021.
Executives
Kulovaara Harri U officer: EVP, Maritime ROYAL CARIBBEAN CRUISE LINES 6100 BLUE LAGOON DRIVE, SUITE 200 MIAMI FL 33126
Pujol Henry L officer: SVP, Chief Accounting Officer ROYAL CARIBBEAN CRUISES LTD. 1050 CARIBBEAN WAY MIAMI FL 33132
Bayley Michael W officer: Pres& CEO,Royal Caribbean Intl ROYAL CARIBBEAN CRUISES LTD. 1050 CARIBBEAN WAY MIAMI FL 33132
Stein Bradley H officer: SVP, GC & ChiefComplianceOff 1050 CARIBBEAN WAY MIAMI FL 33132
Lutoff-perlo Lisa officer: Pres & CEO, Celebrity Cruises 1050 CARIBBEAN WAY MIAMI FL 33132
Liberty Jason T officer: EVP, Chief Financial Officer 1050 CARIBBEAN WAY MIAMI FL 33132
A Wilhelmsen A S 10 percent owner BEDDINGEN 8 AKER BRYGGE 1250 OSLO PO BOX 1583 VIKA N 0118 OSLO NORWAY Q8 00000
Wilhelmsen Arne Alexander director ANDERS WILHELMSEN & CO. AS BEDDINGEN 8, AKER BRYGGE OSLO Q8 NO-0118
Montiel Maritza Gomez director 475 W. TERRA COTTA AVE., SUITE E CRYSTAL LAKE IL 60014
Howe Stephen R. Jr. director C/O ROYAL CARIBBEAN CRUISES LTD. 1050 CARIBBEAN WAY MIAMI FL 33132
Sorensen Vagn O director ROYAL CARIBBEAN CRUISES LTD. 1050 CARIBBEAN WAY MIAMI FL 33132
Pritzker Thomas director PRITZKER & PRITZKER 200 W. MADISON STREET, 38TH FLOOR CHICAGO IL 60606
Ofer Eyal director CARLYLE M.G. LIMITED 18 UPPER BROOK STREET LONDON X0 W1Y 1PD
Moore Ann S director C/O AVON PRODUCS INC 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105-0196
Brock John director 2500 WINDY RIDGE PARKWAY ATLANTA GA 30339

Royal Caribbean Group Headlines

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