Carnival Corporation (CCL)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	20,426,000	19,417,000	17,876,000	15,504,000	13,197,000	10,559,000	7,812,000	4,475,000	2,493,000	1,264,000	654,000	139,000	648,000	5,356,000	10,056,000	16,506,000	20,732,000	20,620,000	20,343,000	19,698,000
Property, plant and equipment	US$ in thousands	41,515,000	40,116,000	39,952,000	39,584,000	39,359,000	38,687,000	38,137,000	39,262,000	40,183,000	38,107,000	38,917,000	39,499,000	39,583,000	38,073,000	36,926,000	37,139,000	38,023,000	38,131,000	36,466,000	36,814,000
Fixed asset turnover		0.49	0.48	0.45	0.39	0.34	0.27	0.20	0.11	0.06	0.03	0.02	0.00	0.02	0.14	0.27	0.44	0.55	0.54	0.56	0.54

February 29, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $20,426,000K ÷ $41,515,000K
= 0.49

The fixed asset turnover ratio for Carnival Corporation has shown fluctuating trends over the past several periods. The ratio indicates how efficiently the company generates revenue from its investment in fixed assets.

The ratio ranged from a low of 0.00 to a high of 0.55 during the period analyzed. Generally, the lower fixed asset turnover ratios suggest that the company is not effectively utilizing its fixed assets to generate sales. On the other hand, the higher ratios indicate improved efficiency in converting fixed assets into revenue.

It is notable that the fixed asset turnover ratio has shown an upward trend in recent periods, starting from 0.02 and reaching 0.55. This indicates potential improvements in asset utilization efficiency within the company. However, the ratio fluctuated over time, suggesting inconsistencies in the company's ability to generate revenue from its fixed assets.

Overall, an in-depth analysis of the factors influencing the fixed asset turnover ratio, such as capital investments, asset management strategies, and revenue generation efforts, would provide more insights into Carnival Corporation's operational efficiency and financial performance.