Carnival Corporation (CCL)

Receivables turnover

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Revenue	US$ in thousands	24,945,000	19,429,000	10,558,000	1,908,000	4,236,000
Receivables	US$ in thousands	590,000	556,000	395,000	246,000	273,000
Receivables turnover		42.28	34.94	26.73	7.76	15.52

November 30, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $24,945,000K ÷ $590,000K
= 42.28

The receivables turnover ratio for Carnival Corporation has shown significant fluctuations over the years based on the provided data. In November 2020, the company had a receivables turnover of 15.52, indicating that it collected its accounts receivable approximately 15.52 times during that year.

However, there was a notable decrease in the turnover ratio in November 2021, dropping to 7.76. This decline suggests that the company took longer to collect its receivables in the following year.

Subsequently, there was a substantial improvement in the receivables turnover ratio in November 2022, jumping to 26.73, indicating a more efficient collection of accounts receivable during that period. This trend continued in November 2023 and November 2024, with the ratios rising to 34.94 and 42.28, respectively.

Overall, the upward trend in the receivables turnover ratio from 2022 onwards reflects improved efficiency in collecting receivables, which can be a positive indicator of the company's cash flow management and customer credit policies. However, it is essential to monitor this ratio continually to ensure that the trend is sustainable and in line with the company's overall financial health.