Current Ratio
since 2005
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Carnival Corp. & plc pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Calculation
Carnival Corp. & plc, current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Nov 30, 2023 | = | ÷ | |||
| Nov 30, 2022 | = | ÷ | |||
| Nov 30, 2021 | = | ÷ | |||
| Nov 30, 2020 | = | ÷ | |||
| Nov 30, 2019 | = | ÷ | |||
| Nov 30, 2018 | = | ÷ | |||
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| Nov 30, 2007 | = | ÷ | |||
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| Nov 30, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).
1 US$ in millions
The analysis of the current assets, current liabilities, and current ratio over the period from 2005 to 2023 reveals several noteworthy trends and fluctuations in the company's short-term financial position.
- Current Assets
- The current assets initially showed a gradual decline from 2,215 million USD in 2005 to a low of 1,244 million USD in 2010. From 2010 onwards, there was a moderate recovery, with assets increasing to a peak of 2,451 million USD in 2014. The trend then stabilized with some fluctuations until 2019, when current assets peaked sharply at 10,563 million USD in 2020, likely due to extraordinary circumstances impacting liquidity. Subsequently, there was a decreasing trend through 2023, ending at 5,266 million USD.
- Current Liabilities
- Current liabilities exhibited an overall upward trajectory throughout the analyzed period. Starting at 5,192 million USD in 2005, liabilities increased with some volatility, reaching 8,686 million USD by 2016. From 2016 to 2023, there was a consistent rise, culminating at 11,481 million USD in 2023. This suggests growing short-term financial obligations over time, with particularly notable increases post-2019.
- Current Ratio
- The current ratio remained below 1 for most of the period, indicating consistently more current liabilities than current assets and thus potential liquidity concerns. The ratio declined from 0.43 in 2005 to a low of about 0.18 in 2017, reflecting a deteriorating ability to cover short-term liabilities with short-term assets. In 2020, the ratio improved dramatically to 1.22, surpassing the benchmark of 1, which was likely influenced by the spike in current assets mentioned earlier. However, this improvement was short-lived; the ratio subsequently decreased to 0.46 in 2023, indicating renewed liquidity pressure.
Overall, the data reveals a persistent challenge in maintaining adequate liquidity ratios across much of the analysis period, with an isolated improvement around 2020 followed by a reversion to lower liquidity levels. The rise in current liabilities outpacing an inconsistent growth in current assets contributes to this trend and signals the importance of managing short-term financial obligations carefully.
Comparison to Competitors
Carnival Corp. & plc, current ratio, long-term trends, comparison to competitors
| Carnival Corp. & plc | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
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Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).
Comparison to Sector (Consumer Services)
Carnival Corp. & plc, current ratio, long-term trends, comparison to sector (consumer services)
| Carnival Corp. & plc | Consumer Services | |
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| Nov 30, 2023 | ||
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Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).
Comparison to Industry (Consumer Discretionary)
Carnival Corp. & plc, current ratio, long-term trends, comparison to industry (consumer discretionary)
| Carnival Corp. & plc | Consumer Discretionary | |
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| Nov 30, 2023 | ||
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Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).