Carnival Corporation (CCL)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	405,000	-74,000	-1,624,000	-3,468,000	-4,895,000	-6,093,000	-7,115,000	-9,181,000	-9,419,000	-9,501,000	-9,103,000	-9,125,000	-11,427,000	-10,235,000	-7,590,000	-2,952,000	1,873,000	2,990,000	3,060,000	2,987,000
Total stockholders’ equity	US$ in thousands	6,682,000	6,882,000	6,960,000	5,865,000	6,170,000	7,065,000	8,379,000	8,260,000	10,311,000	12,144,000	14,863,000	17,876,000	19,813,000	20,555,000	19,503,000	20,840,000	24,290,000	25,365,000	25,295,000	24,108,000
ROE		6.06%	-1.08%	-23.33%	-59.13%	-79.34%	-86.24%	-84.91%	-111.15%	-91.35%	-78.24%	-61.25%	-51.05%	-57.67%	-49.79%	-38.92%	-14.17%	7.71%	11.79%	12.10%	12.39%

February 29, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $405,000K ÷ $6,682,000K
= 6.06%

Carnival Corporation's return on equity (ROE) has shown significant fluctuations over the past several quarters. The ROE has ranged from negative values of -111.15% in May 2022 to positive values of 12.39% in May 2019. This indicates that the company's profitability and efficiency in generating returns from shareholders' equity have varied widely.

The negative ROE figures in recent quarters, particularly in 2023, suggest that the company may be facing challenges in generating profits compared to its equity base. The ROE hit its lowest point at -111.15% in August 2022, indicating significant losses relative to shareholders' equity.

However, there have been periods of positive ROE, such as in May 2019 and February 2020, where the company managed to generate returns exceeding its equity base. This could indicate successful profitability and efficiency in utilizing equity to generate profits during those periods.

Overall, the trend in Carnival Corporation's ROE indicates fluctuating performance and challenges in generating consistent returns for shareholders in recent years. Further analysis of the company's financial and operational strategies may be necessary to understand the drivers behind these variations in ROE.