Debt to Equity
since 2005
Paying user area
Try for free
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
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Carnival Corp. & plc for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Calculation
Carnival Corp. & plc, debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Shareholders’ equity1 | |
|---|---|---|---|---|---|
| Nov 30, 2023 | = | ÷ | |||
| Nov 30, 2022 | = | ÷ | |||
| Nov 30, 2021 | = | ÷ | |||
| Nov 30, 2020 | = | ÷ | |||
| Nov 30, 2019 | = | ÷ | |||
| Nov 30, 2018 | = | ÷ | |||
| Nov 30, 2017 | = | ÷ | |||
| Nov 30, 2016 | = | ÷ | |||
| Nov 30, 2015 | = | ÷ | |||
| Nov 30, 2014 | = | ÷ | |||
| Nov 30, 2013 | = | ÷ | |||
| Nov 30, 2012 | = | ÷ | |||
| Nov 30, 2011 | = | ÷ | |||
| Nov 30, 2010 | = | ÷ | |||
| Nov 30, 2009 | = | ÷ | |||
| Nov 30, 2008 | = | ÷ | |||
| Nov 30, 2007 | = | ÷ | |||
| Nov 30, 2006 | = | ÷ | |||
| Nov 30, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).
1 US$ in millions
The financial data reveals several notable trends regarding the company's debt levels, equity, and leverage ratios from 2005 to 2023.
- Total debt
- The total debt exhibited a generally steady increase from 7,352 million USD in 2005 to around 11,502 million USD by 2019. However, a sharp rise occurred from 2019 onwards, with total debt surging dramatically to a peak of 34,546 million USD in 2022 before decreasing to 30,572 million USD in 2023. This steep debt accumulation in recent years could indicate significant financing activities or efforts to manage liquidity during challenging periods.
- Shareholders’ equity
- Shareholders’ equity initially showed a positive trend, growing from 16,972 million USD in 2005 and reaching a peak of 25,365 million USD in 2019. Following this peak, equity declined substantially to 7,065 million USD by 2022 and remained relatively flat at 6,882 million USD in 2023. This decline in equity, especially after 2019, suggests financial strain or losses impacting net asset value substantially.
- Debt to equity ratio
- The debt to equity ratio was relatively stable and low from 2005 through 2019, fluctuating between 0.37 and 0.49, indicating a modest leverage position. From 2020 onward, the ratio increased sharply, rising to 1.31 in 2020, 2.74 in 2021, and reaching an extreme level of 4.89 in 2022 before slightly improving to 4.44 in 2023. This surge reflects a significant increase in financial leverage, driven both by the rise in total debt and the substantial fall in equity during this period. The elevated leverage levels imply greater financial risk and potential vulnerability.
Overall, the data points to a period of relative financial stability up to 2019, followed by increased indebtedness and reduced equity levels, culminating in much higher leverage. This pattern may be symptomatic of heightened financial stress or strategic financing decisions undertaken in recent years.
Comparison to Competitors
Carnival Corp. & plc, debt to equity, 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. | |
|---|---|---|---|---|---|---|---|
| Nov 30, 2023 | |||||||
| Nov 30, 2022 | |||||||
| Nov 30, 2021 | |||||||
| Nov 30, 2020 | |||||||
| Nov 30, 2019 | |||||||
| Nov 30, 2018 | |||||||
| Nov 30, 2017 | |||||||
| Nov 30, 2016 | |||||||
| Nov 30, 2015 | |||||||
| Nov 30, 2014 | |||||||
| Nov 30, 2013 | |||||||
| Nov 30, 2012 | |||||||
| Nov 30, 2011 | |||||||
| Nov 30, 2010 | |||||||
| Nov 30, 2009 | |||||||
| Nov 30, 2008 | |||||||
| Nov 30, 2007 | |||||||
| Nov 30, 2006 | |||||||
| 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).
Comparison to Sector (Consumer Services)
Carnival Corp. & plc, debt to equity, long-term trends, comparison to sector (consumer services)
| Carnival Corp. & plc | Consumer Services | |
|---|---|---|
| Nov 30, 2023 | ||
| Nov 30, 2022 | ||
| Nov 30, 2021 | ||
| Nov 30, 2020 | ||
| Nov 30, 2019 | ||
| Nov 30, 2018 | ||
| Nov 30, 2017 | ||
| Nov 30, 2016 | ||
| Nov 30, 2015 | ||
| Nov 30, 2014 | ||
| Nov 30, 2013 | ||
| Nov 30, 2012 | ||
| Nov 30, 2011 | ||
| Nov 30, 2010 | ||
| Nov 30, 2009 | ||
| Nov 30, 2008 | ||
| Nov 30, 2007 | ||
| Nov 30, 2006 | ||
| 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).
Comparison to Industry (Consumer Discretionary)
Carnival Corp. & plc, debt to equity, long-term trends, comparison to industry (consumer discretionary)
| Carnival Corp. & plc | Consumer Discretionary | |
|---|---|---|
| Nov 30, 2023 | ||
| Nov 30, 2022 | ||
| Nov 30, 2021 | ||
| Nov 30, 2020 | ||
| Nov 30, 2019 | ||
| Nov 30, 2018 | ||
| Nov 30, 2017 | ||
| Nov 30, 2016 | ||
| Nov 30, 2015 | ||
| Nov 30, 2014 | ||
| Nov 30, 2013 | ||
| Nov 30, 2012 | ||
| Nov 30, 2011 | ||
| Nov 30, 2010 | ||
| Nov 30, 2009 | ||
| Nov 30, 2008 | ||
| Nov 30, 2007 | ||
| Nov 30, 2006 | ||
| 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).