Carnival Corporation (CCL)

Debt-to-assets ratio

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Long-term debt	US$ in thousands	25,936,000	28,483,000	31,953,000	28,509,000	22,130,000
Total assets	US$ in thousands	49,057,000	49,120,000	51,703,000	53,344,000	53,593,000
Debt-to-assets ratio		0.53	0.58	0.62	0.53	0.41

November 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $25,936,000K ÷ $49,057,000K
= 0.53

The debt-to-assets ratio for Carnival Corporation has shown an increasing trend over the past five years. It stood at 0.41 as of November 30, 2020, but steadily rose to 0.53 in 2021, further increasing to 0.62 in 2022. However, there was a slight decrease to 0.58 in 2023 and then remained stable at 0.53 in 2024.

This indicates that Carnival Corporation's proportion of debt in relation to its total assets has been on the rise, peaking in 2022 before showing a slight improvement in the subsequent years. It suggests that the company has been relying more on debt financing relative to its asset base, which can have implications on its financial risk and leverage positions. Further analysis and consideration of other financial metrics would be needed to fully evaluate the impact of this trend on Carnival Corporation's financial health and stability.