Carnival Corporation (CCL)
Current ratio
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 5,266,000 | 7,492,000 | 10,133,000 | 10,563,000 | 2,059,000 |
| Total current liabilities | US$ in thousands | 11,481,000 | 10,605,000 | 10,408,000 | 8,686,000 | 9,127,000 |
| Current ratio | 0.46 | 0.71 | 0.97 | 1.22 | 0.23 |
November 30, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $5,266,000K ÷ $11,481,000K
= 0.46
The current ratio of Carnival Corp. has shown some fluctuation over the past five years. As of November 30, 2023, the current ratio stands at 0.46, reflecting a decline from the previous year's ratio of 0.71. This suggests that Carnival Corp. may have experienced a decrease in its ability to meet its short-term obligations using its current assets.
The downward trend in the current ratio, especially when compared to the ratios of 2021 and 2020, indicates a potential deterioration in the company's short-term liquidity position. A current ratio below 1 may raise concerns about the company's ability to cover its short-term liabilities with its current assets.
Further investigation into Carnival Corp.'s current asset and current liability composition, as well as potential changes in operating cash flows, may be necessary to understand the reasons behind this trend and to assess the company's short-term solvency and liquidity position.
Peer comparison
Nov 30, 2023