Carnival Corporation (CCL)

Inventory turnover

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Cost of revenue	US$ in thousands	15,638,000	14,317,000	11,757,000	4,952,000	8,182,000
Inventory	US$ in thousands	507,000	528,000	428,000	356,000	335,000
Inventory turnover		30.84	27.12	27.47	13.91	24.42

November 30, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $15,638,000K ÷ $507,000K
= 30.84

Inventory turnover is a key financial ratio that measures how many times a company's inventory is sold and replaced over a specific period. For Carnival Corporation, the inventory turnover has shown fluctuations over the years based on the data provided.

In November 2020, the inventory turnover was 24.42 times, indicating that the company sold and replaced its inventory almost 24 times during that year. However, by November 2021, the turnover decreased to 13.91, suggesting that Carnival had slowed down its inventory turnover rate.

Subsequently, in November 2022, the inventory turnover rate increased significantly to 27.47, indicating that the company had improved its inventory management and sales efficiency. The trend continued in November 2023 and November 2024, with turnover rates of 27.12 and 30.84 respectively, showing further improvements in managing and selling inventory.

Overall, the inventory turnover ratio for Carnival Corporation has displayed fluctuations, but there seems to be an upward trend in recent years, indicating a more efficient management of inventory and a potential increase in sales effectiveness.