Carnival Corporation (CCL)

Days of inventory on hand (DOH)

		Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020
Inventory turnover		30.85	31.37	29.57	27.71	27.12	29.72	31.53	29.10	27.47	24.31	19.88	16.45	13.91	10.74	11.01	16.65	24.42	30.46	34.85	30.20
DOH	days	11.83	11.63	12.34	13.17	13.46	12.28	11.57	12.54	13.29	15.01	18.36	22.19	26.24	33.99	33.15	21.93	14.94	11.98	10.47	12.08

November 30, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 30.85
= 11.83

Days of Inventory on Hand (DOH) is a financial ratio that indicates how many days, on average, a company holds its inventory before selling it. A lower DOH value is generally preferred as it suggests efficient inventory management.

Analyzing the data provided for Carnival Corporation:
- The DOH for Carnival Corporation was 12.08 days as of February 29, 2020.
- The DOH decreased to 10.47 days by May 31, 2020, indicating a more efficient inventory turnover.
- There was a slight increase in DOH to 11.98 days by August 31, 2020.
- The DOH further increased significantly to 14.94 days by November 30, 2020, which could indicate potential inventory management challenges.
- Subsequently, the DOH continued to rise significantly, reaching a high of 33.15 days by May 31, 2021, and maintaining similar levels in the following quarter.
- There was a significant improvement in inventory management as the DOH decreased to 15.01 days by August 31, 2022, and continued to decrease in the subsequent quarters.
- As of November 30, 2024, the DOH stood at 11.83 days, indicating better inventory turnover efficiency compared to previous periods.

Overall, Carnival Corporation experienced fluctuations in its DOH over the observed periods, with some quarters showing improved inventory management efficiency while others indicated challenges. Monitoring and managing inventory levels effectively can help optimize operations and improve financial performance.