Carnival Corporation (CCL)
Debt-to-assets ratio
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 28,483,000 | 31,953,000 | 28,509,000 | 22,130,000 | 9,675,000 |
| Total assets | US$ in thousands | 49,120,000 | 51,703,000 | 53,344,000 | 53,593,000 | 45,058,000 |
| Debt-to-assets ratio | 0.58 | 0.62 | 0.53 | 0.41 | 0.21 |
November 30, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $28,483,000K ÷ $49,120,000K
= 0.58
The debt-to-assets ratio for Carnival Corp. has fluctuated over the past five years, ranging from 0.26 to 0.67. This ratio indicates the proportion of the company's assets that are financed by debt. In 2019, the ratio was relatively low at 0.26, suggesting that only 26% of the company's assets were financed by debt. However, the ratio rose to 0.67 in 2022 before decreasing to 0.62 in 2023. The increase in the ratio suggests that the company may have taken on more debt relative to its assets in 2022, which could be a concern for stakeholders. It's important to closely monitor this ratio to assess Carnival Corp.'s ability to meet its debt obligations and manage its leverage effectively.
Peer comparison
Nov 30, 2023