Carnival Corporation (CCL)

Debt-to-assets ratio

		Nov 30, 2024	Aug 31, 2024	May 31, 2024	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
Long-term debt	US$ in thousands	25,936,000	26,642,000	27,154,000	28,544,000	28,483,000	29,516,000	31,921,000	32,672,000	31,953,000	28,518,000	29,263,000	29,887,000	28,509,000	26,831,000	25,968,000	26,522,000	22,130,000	18,916,000	14,870,000	9,738,000
Total assets	US$ in thousands	49,057,000	49,805,000	49,603,000	49,761,000	49,120,000	49,756,000	51,873,000	51,985,000	51,703,000	51,917,000	52,988,000	53,281,000	53,344,000	53,514,000	55,064,000	57,226,000	53,593,000	50,818,000	49,817,000	46,943,000
Debt-to-assets ratio		0.53	0.53	0.55	0.57	0.58	0.59	0.62	0.63	0.62	0.55	0.55	0.56	0.53	0.50	0.47	0.46	0.41	0.37	0.30	0.21

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 of Carnival Corporation has been gradually increasing over the past few years based on the data provided. The ratio stood at 0.21 as of February 29, 2020, and has since risen to 0.53 by November 30, 2023. This indicates that the company's level of debt in relation to its total assets has been on the rise.

A rising debt-to-assets ratio can suggest that Carnival Corporation is becoming more leveraged, relying more on debt financing relative to its asset base. While a higher ratio can sometimes indicate increased financial risk, it is essential to consider the context and industry norms when evaluating this metric.

It would be important for stakeholders and investors to monitor Carnival Corporation's debt management strategies and overall financial health closely, considering the sustained increase in the debt-to-assets ratio over the period analyzed.