Carnival Corporation (CCL)
Quick ratio
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 2,415,000 | 4,029,000 | 8,939,000 | 9,513,000 | 518,000 |
| Short-term investments | US$ in thousands | 2,985,000 | 0 | 200,000 | 0 | — |
| Receivables | US$ in thousands | 556,000 | 395,000 | 246,000 | 273,000 | 444,000 |
| Total current liabilities | US$ in thousands | 11,481,000 | 10,605,000 | 10,408,000 | 8,686,000 | 9,127,000 |
| Quick ratio | 0.52 | 0.42 | 0.90 | 1.13 | 0.11 |
November 30, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,415,000K
+ $2,985,000K
+ $556,000K)
÷ $11,481,000K
= 0.52
The quick ratio of Carnival Corp. has shown significant fluctuations over the past five years. In 2019, the quick ratio was at a low of 0.18, indicating the company's limited ability to meet its short-term obligations with its most liquid assets. However, there has been a notable improvement in the quick ratio in 2020, reaching 1.18, suggesting the company had an improved capacity to cover its short-term liabilities with its quick assets.
Subsequently, in 2021, the quick ratio declined to 0.94 and further decreased to 0.48 in 2022. The quick ratio for the most recent year, 2023, stands at 0.41, indicating a significant decrease compared to the previous year.
Overall, the downward trend in the quick ratio over the past three years suggests a potential reduction in the company's ability to fulfill short-term obligations with its most liquid assets. This trend warrants a closer examination of the company's liquidity management and the underlying factors impacting its quick asset composition.
Peer comparison
Nov 30, 2023