Carnival Corporation (CCL)
Quick ratio
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 | ||
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Cash | US$ in thousands | 2,242,000 | 2,415,000 | 2,842,000 | 4,468,000 | 5,455,000 | 4,029,000 | 7,071,000 | 7,054,000 | 6,414,000 | 8,939,000 | 7,151,000 | 7,067,000 | 9,674,000 | 9,513,000 | 8,176,000 | 6,881,000 | 1,354,000 | 518,000 | 1,153,000 | 1,202,000 |
Short-term investments | US$ in thousands | — | 2,985,000 | 2,858,000 | 2,832,000 | 2,645,000 | 0 | 0 | 151,000 | 515,000 | 200,000 | 647,000 | 2,204,000 | 1,840,000 | 0 | — | — | — | — | — | — |
Receivables | US$ in thousands | 644,000 | 556,000 | 485,000 | 449,000 | 514,000 | 395,000 | 360,000 | 359,000 | 267,000 | 246,000 | 281,000 | 218,000 | 250,000 | 273,000 | 376,000 | 604,000 | 405,000 | 444,000 | 441,000 | 405,000 |
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 |
Quick ratio | 0.23 | 0.52 | 0.56 | 0.65 | 0.78 | 0.42 | 0.57 | 0.57 | 0.66 | 0.90 | 0.85 | 1.08 | 1.36 | 1.13 | 0.84 | 0.63 | 0.16 | 0.11 | 0.18 | 0.15 |
February 29, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,242,000K
+ $—K
+ $644,000K)
÷ $12,396,000K
= 0.23
The quick ratio of Carnival Corporation has fluctuated over the past several quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty covering its short-term liabilities with its liquid assets alone.
Looking at the trend, the quick ratio of Carnival Corporation has ranged from 0.11 to 1.36 over the past few years. The ratio was at its lowest at 0.11 in February 2020, indicating a potential liquidity concern at that time. However, the ratio improved significantly to 1.36 in February 2021, suggesting a healthier liquidity position.
In the most recent quarter, the quick ratio was 0.23, which is comparatively lower than some of the previous quarters. This decrease may signal a potential liquidity challenge for the company in meeting its short-term obligations with its current liquid assets.
It is important for Carnival Corporation to closely monitor its quick ratio and ensure that it maintains a healthy level of liquidity to meet its short-term financial commitments effectively. Monitoring and managing liquidity risk are crucial for the company's financial stability and operational continuity.
Peer comparison
Feb 29, 2024