Carnival Corporation (CCL)
Receivables turnover
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 19,429,000 | 10,558,000 | 1,908,000 | 4,236,000 | 20,619,000 |
| Receivables | US$ in thousands | 556,000 | 395,000 | 246,000 | 273,000 | 444,000 |
| Receivables turnover | 34.94 | 26.73 | 7.76 | 15.52 | 46.44 |
November 30, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $19,429,000K ÷ $556,000K
= 34.94
The receivables turnover ratio measures how efficiently a company collects its outstanding accounts receivable during a specific period. A higher receivables turnover indicates more efficient management of receivables.
Carnival Corp.'s receivables turnover has fluctuated over the past five years, indicating varying efficiencies in collecting receivables. In 2023, the receivables turnover was 38.84, which represents a significant increase from the previous year's 30.81. This suggests that Carnival Corp. collected its receivables more frequently in 2023, reflecting improved efficiency or a change in its credit policy.
The 2023 ratio of 38.84 is substantially higher than the 2021 ratio of 7.76, indicating a significant improvement in receivables management over the two-year period. However, it's lower compared to the 2019 ratio of 46.90, suggesting that Carnival Corp. collected receivables less frequently in 2023 than in 2019.
Overall, the receivables turnover for Carnival Corp. has shown fluctuations, and further analysis is needed to understand the reasons behind these changes and evaluate the effectiveness of the company's credit and collection policies.
Peer comparison
Nov 30, 2023