Carnival Corporation (CCL)
Payables turnover
| Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 15,639,000 | 15,435,000 | 15,053,000 | 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 |
| Payables | US$ in thousands | 1,133,000 | 1,062,000 | 1,063,000 | 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 |
| Payables turnover | 13.80 | 14.53 | 14.16 | 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 |
November 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $15,639,000K ÷ $1,133,000K
= 13.80
The payables turnover ratio for Carnival Corporation has fluctuated over the reported periods. The ratio indicates how efficiently the company is managing its trade payables by measuring how many times during a period the company pays off its suppliers.
Initially, in February 2020, the payables turnover was 14.70 times. This figure decreased to 6.97 in May 2020, implying a slower turnover rate and possibly indicating delays in paying suppliers.
The ratio then significantly increased to 15.39 in August 2020 and remained relatively high at 13.11 in November 2020, suggesting improved efficiency in managing payables during these periods.
From February 2021 to November 2021, the payables turnover fluctuated between 5.15 to 10.29, indicating varying levels of efficiency in paying off suppliers.
Subsequently, the ratio decreased to 5.15 in August 2021, which may raise concerns about potential liquidity issues or changes in payment terms. However, it gradually increased to 13.01 in August 2023.
Overall, the payables turnover for Carnival Corporation has shown fluctuations, which can be attributed to changes in the company's payment practices, supplier relationships, or operational dynamics. It is essential for stakeholders to monitor this ratio to assess the company's working capital management and liquidity position effectively.
Peer comparison
Nov 30, 2024