Carnival Corporation (CCL)

Number of days of payables

		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
Payables turnover		13.34	12.26	13.01	13.26	12.76	11.20	11.10	9.26	8.35	6.21	5.15	6.80	10.29	13.11	15.39	6.97	14.70	17.08	18.09	15.15
Number of days of payables	days	27.37	29.78	28.05	27.54	28.61	32.60	32.88	39.40	43.71	58.74	70.93	53.71	35.49	27.84	23.72	52.34	24.83	21.38	20.17	24.09

February 29, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.34
= 27.37

The number of days of payables for Carnival Corporation has shown some fluctuations over the past years. In the most recent period of analysis on Feb 29, 2024, Carnival Corporation took on average 27.37 days to pay its trade payables. This suggests efficient management of payables compared to the previous quarter where the number of days was slightly higher at 29.78 days.

Looking further back, the trend in the number of days of payables fluctuated over the past two years. The number of days of payables was relatively stable in the mid-20s range from May 31, 2020, to Aug 31, 2021. However, there was a significant increase in the number of days of payables to 70.93 days on Aug 31, 2021. This increase may indicate potential liquidity constraints or changes in the company's payment policies during that period.

Subsequently, there was a notable improvement in the management of payables, as demonstrated by the decrease to 20.17 days on May 31, 2019. This significant reduction in payment days indicates a more efficient management of trade payables, potentially benefiting Carnival Corporation in terms of cash flow and working capital management.

Overall, monitoring the trend of the number of days of payables can provide insights into Carnival Corporation's cash management efficiency, working capital practices, and financial health.