Carnival Corporation (CCL)

Working capital 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
Revenue (ttm)	US$ in thousands	20,426,000	19,417,000	17,876,000	15,504,000	13,197,000	10,559,000	7,812,000	4,475,000	2,493,000	1,264,000	654,000	139,000	648,000	5,356,000	10,056,000	16,506,000	20,732,000	20,620,000	20,343,000	19,698,000
Total current assets	US$ in thousands	4,484,000	5,266,000	4,683,000	6,206,000	7,144,000	7,492,000	8,432,000	8,554,000	8,057,000	10,133,000	8,909,000	10,198,000	12,459,000	10,563,000	9,268,000	8,222,000	2,885,000	2,059,000	2,712,000	2,835,000
Total current liabilities	US$ in thousands	12,396,000	11,481,000	11,008,000	11,835,000	11,088,000	10,605,000	12,954,000	13,380,000	10,920,000	10,408,000	9,491,000	8,754,000	8,619,000	8,686,000	10,184,000	11,858,000	10,716,000	9,127,000	8,932,000	10,377,000
Working capital turnover		—	—	—	—	—	—	—	—	—	—	—	0.10	0.17	2.85	—	—	—	—	—	—

February 29, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $20,426,000K ÷ ($4,484,000K – $12,396,000K)
= —

The working capital turnover ratio for Carnival Corporation has shown fluctuations over the period provided. In May 2021, the ratio was notably high at 2.85, indicating that the company was effectively utilizing its working capital to generate revenue. However, the ratio dropped in subsequent periods and was not reported for some quarters.

A working capital turnover ratio of 0.10 in August 2021 suggests a decrease in efficiency in utilizing working capital during that period. This could be due to various factors such as changes in sales volume, inventory management, or payment terms.

The absence of reported ratios for certain quarters indicates potential data gaps or changes in reporting practices. Overall, analyzing the working capital turnover ratio alongside other financial metrics and information about the company's operations can provide a more comprehensive understanding of Carnival Corporation's financial performance and efficiency in managing working capital.