Carnival Corporation (CCL)

Days of inventory on hand (DOH)

		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	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Inventory turnover		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	30.23	26.09	23.95
DOH	days	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	12.07	13.99	15.24

February 29, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 27.71
= 13.17

To analyze Carnival Corporation's days of inventory on hand (DOH) over the past 20 periods, we observe fluctuations in the metric, indicating changes in the company's inventory management efficiency.

The DOH ranged from a low of 10.47 days on May 31, 2020, to a high of 33.99 days on August 31, 2021, showing significant variability in inventory turnover during the analyzed periods.

In general, a lower DOH reflects faster inventory turnover and better liquidity, while a higher DOH suggests slower inventory turnover and potential risks of obsolescence or carrying costs.

Carnival Corporation's DOH has shown a decreasing trend in recent periods, indicating improved efficiency in managing inventory levels. This trend may indicate more effective purchasing, production, and sales processes that lead to lower inventory levels and reduced holding costs.

It is essential for Carnival Corporation to continue monitoring and optimizing its inventory management practices to ensure efficient operations and maximize profitability.