Carnival Corporation (CCL)
Payables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 14,712,000 | 14,318,000 | 14,354,000 | 13,812,000 | 13,038,000 | 11,757,000 | 10,212,000 | 8,449,000 | 6,447,000 | 4,952,000 | 3,458,000 | 3,391,000 | 5,194,000 | 8,182,000 | 10,632,000 | 12,615,000 | 13,290,000 | 12,909,000 | 12,574,000 | 12,000,000 |
| Payables | US$ in thousands | 1,103,000 | 1,168,000 | 1,103,000 | 1,042,000 | 1,022,000 | 1,050,000 | 920,000 | 912,000 | 772,000 | 797,000 | 672,000 | 499,000 | 505,000 | 624,000 | 691,000 | 1,809,000 | 904,000 | 756,000 | 695,000 | 792,000 |
| 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 |
February 29, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $14,712,000K ÷ $1,103,000K
= 13.34
The payables turnover ratio for Carnival Corporation has shown fluctuations over the past few periods. The ratio indicates how efficiently the company manages its trade payables by paying off its suppliers.
In the most recent period (February 29, 2024), the payables turnover ratio was 13.34, which suggests that the company's payables turned over approximately 13.34 times during the period. This is an improvement from the previous quarter (November 30, 2023) where the ratio was 12.26.
Looking back over the past year, there has been some variability in the payables turnover ratio, reaching a low of 5.15 in August 31, 2021, and a high of 18.09 in August 31, 2019. The trend indicates that Carnival Corporation has generally improved its payables turnover efficiency in recent quarters.
A higher payables turnover ratio generally indicates that the company is efficiently managing its payables by paying off its suppliers quickly. A lower ratio may suggest that the company is taking longer to pay its suppliers, which could potentially strain supplier relationships.
Overall, Carnival Corporation's payables turnover ratio has shown improvement in recent periods, suggesting improved efficiency in managing its trade payables.
Peer comparison
Feb 29, 2024