• Royal Caribbean Cruises average debt/equity ratio for 2023 was 4.91, a 17.2% decline from 2022.
• Royal Caribbean Cruises average debt/equity ratio for 2022 was 5.93, a 104.48% decline from 2021.
• Royal Caribbean Cruises average debt/equity ratio for 2021 was 2.9, a 57.61% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.