Carnival Corporation (CCL)
Financial leverage ratio
| Nov 30, 2024 | Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 49,057,000 | 49,120,000 | 51,703,000 | 53,344,000 | 53,593,000 |
| Total stockholders’ equity | US$ in thousands | 9,251,000 | 6,882,000 | 7,065,000 | 12,144,000 | 20,555,000 |
| Financial leverage ratio | 5.30 | 7.14 | 7.32 | 4.39 | 2.61 |
November 30, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $49,057,000K ÷ $9,251,000K
= 5.30
The financial leverage ratio of Carnival Corporation has experienced a significant upward trend over the past few years, indicating an increase in financial leverage. The ratio stood at 2.61 as of November 30, 2020, but rose to 4.39 by November 30, 2021, demonstrating a notable increase in leverage. Subsequently, it further increased to 7.32 by November 30, 2022, showcasing a substantial rise in leverage levels. However, there was a slight decrease to 7.14 by November 30, 2023, before declining further to 5.30 by November 30, 2024.
This fluctuation suggests that Carnival Corporation has been actively managing its debt levels relative to its equity. The higher financial leverage ratios indicate that the company has been relying more on debt financing compared to equity. It is essential for investors and stakeholders to closely monitor this trend to assess Carnival Corporation's risk profile and financial stability.
Peer comparison
Nov 30, 2024