Carnival Corporation (CCL)
Total asset 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 |
| Total assets | US$ in thousands | 49,120,000 | 51,703,000 | 53,344,000 | 53,593,000 | 45,058,000 |
| Total asset turnover | 0.40 | 0.20 | 0.04 | 0.08 | 0.46 |
November 30, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $19,429,000K ÷ $49,120,000K
= 0.40
The total asset turnover ratio for Carnival Corp. has varied significantly over the past five years. In 2023, the total asset turnover was 0.44, indicating that the company generated 44 cents in revenue for every dollar of assets. This represents a substantial improvement compared to the previous year's ratio of 0.24. The significant increase in asset turnover suggests that the company is utilizing its assets more efficiently to generate sales.
In 2021, the total asset turnover was only 0.04, indicating a sharp decline in asset utilization compared to the previous year. This could be a concerning sign as it suggests that the company's assets were not effectively employed to generate sales during that period.
In 2020, the total asset turnover improved to 0.10, indicating a slight recovery from the previous year's low ratio. However, it was still significantly lower than the 2019 ratio of 0.46. The fluctuation in the total asset turnover ratio over the years suggests that Carnival Corp. has experienced challenges in effectively leveraging its assets to generate sales, and this may warrant further investigation into the company's operational efficiency and asset management.
Peer comparison
Nov 30, 2023