Return on Assets (ROA)
since 2005
Calculation
Carnival Corp. & plc, ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Nov 30, 2023 | -0.15% | = | 100 | × | (74) | ÷ | 49,120) |
| Nov 30, 2022 | -11.78% | = | 100 | × | (6,093) | ÷ | 51,703) |
| Nov 30, 2021 | -17.81% | = | 100 | × | (9,501) | ÷ | 53,344) |
| Nov 30, 2020 | -19.10% | = | 100 | × | (10,236) | ÷ | 53,593) |
| Nov 30, 2019 | 6.64% | = | 100 | × | 2,990) | ÷ | 45,058) |
| Nov 30, 2018 | 7.43% | = | 100 | × | 3,152) | ÷ | 42,401) |
| Nov 30, 2017 | 6.39% | = | 100 | × | 2,606) | ÷ | 40,778) |
| Nov 30, 2016 | 7.14% | = | 100 | × | 2,779) | ÷ | 38,936) |
| Nov 30, 2015 | 4.60% | = | 100 | × | 1,757) | ÷ | 38,237) |
| Nov 30, 2014 | 3.13% | = | 100 | × | 1,236) | ÷ | 39,532) |
| Nov 30, 2013 | 2.69% | = | 100 | × | 1,078) | ÷ | 40,104) |
| Nov 30, 2012 | 3.31% | = | 100 | × | 1,298) | ÷ | 39,161) |
| Nov 30, 2011 | 4.95% | = | 100 | × | 1,912) | ÷ | 38,637) |
| Nov 30, 2010 | 5.28% | = | 100 | × | 1,978) | ÷ | 37,490) |
| Nov 30, 2009 | 4.86% | = | 100 | × | 1,790) | ÷ | 36,835) |
| Nov 30, 2008 | 6.98% | = | 100 | × | 2,330) | ÷ | 33,400) |
| Nov 30, 2007 | 7.04% | = | 100 | × | 2,408) | ÷ | 34,181) |
| Nov 30, 2006 | 7.46% | = | 100 | × | 2,279) | ÷ | 30,552) |
| Nov 30, 2005 | 7.94% | = | 100 | × | 2,257) | ÷ | 28,432) |
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 return on assets (ROA) reveals three distinct financial phases: a period of gradual compression, a recovery toward peak efficiency, and a severe systemic shock followed by a gradual return toward break-even levels.
- Operational Compression (2005–2014)
- A general downward trajectory in ROA is observed during this period, declining from 7.94% in 2005 to a low of 2.69% in 2013. This decline was characterized by a steady expansion of the asset base, which grew from 28,432 million to 40,104 million, while net income experienced significant volatility, reaching a period minimum of 1,078 million in 2013. The divergence between asset growth and income generation resulted in reduced asset utilization efficiency.
- Recovery and Peak Performance (2015–2019)
- A strong recovery phase occurred between 2015 and 2019, with ROA rebounding to a peak of 7.43% in 2018. This improvement was driven by a substantial increase in net income, which reached 3,152 million in 2018. During this interval, the company successfully leveraged its asset base to increase profitability, although ROA slightly dipped to 6.64% in 2019 as total assets continued to rise toward 45,058 million.
- Severe Volatility and Recent Stabilization (2020–2023)
- The period starting in 2020 marks a drastic reversal in financial performance, with ROA plummeting to -19.10% due to a massive net loss of 10,236 million. This coincided with a sharp increase in total assets to 53,593 million, indicating a significant expansion of the balance sheet during a period of negative earnings. From 2021 onward, a consistent recovery trend is evident; ROA improved to -17.81% in 2021, -11.78% in 2022, and finally to -0.15% in 2023. This recovery is mirrored by the narrowing of net losses, which reached a near-break-even point of -74 million by November 30, 2023.
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Comparison to Competitors
Carnival Corp. & plc, ROA, 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 | -0.15% | 23.21% | 17.62% | 15.27% | -5.15% | 15.08% | 14.01% |
| Nov 30, 2022 | -11.78% | 11.80% | 12.06% | 12.98% | -13.94% | 12.25% | 11.73% |
| Nov 30, 2021 | -17.81% | -2.57% | 4.93% | 9.81% | -6.87% | 14.01% | 13.38% |
| Nov 30, 2020 | -19.10% | -43.70% | 0.27% | 5.95% | -7.26% | 8.99% | 3.16% |
| Nov 30, 2019 | 6.64% | — | 22.73% | 6.86% | — | 12.68% | 18.73% |
| Nov 30, 2018 | 7.43% | — | 17.62% | 7.79% | — | 18.06% | 18.70% |
| Nov 30, 2017 | 6.39% | — | 9.20% | 8.62% | — | 15.36% | 20.08% |
| Nov 30, 2016 | 7.14% | — | 10.76% | 1.13% | — | 15.11% | 19.66% |
| Nov 30, 2015 | 4.60% | — | 14.65% | 17.45% | — | 11.94% | 22.15% |
| Nov 30, 2014 | 3.13% | — | 16.21% | 17.49% | — | 13.88% | 19.23% |
| Nov 30, 2013 | 2.69% | — | 18.12% | 16.30% | — | 15.25% | 0.07% |
| Nov 30, 2012 | 3.31% | — | 21.61% | 16.66% | — | 15.44% | 16.84% |
| Nov 30, 2011 | 4.95% | — | 26.60% | 15.08% | — | 16.68% | 16.92% |
| Nov 30, 2010 | 5.28% | — | 18.15% | 15.96% | — | 15.47% | 14.81% |
| Nov 30, 2009 | 4.86% | — | 26.69% | 13.19% | — | 15.06% | 7.01% |
| Nov 30, 2008 | 6.98% | — | 14.40% | 9.48% | — | 15.15% | 5.56% |
| Nov 30, 2007 | 7.04% | — | 11.63% | 9.77% | — | 8.15% | 12.59% |
| Nov 30, 2006 | 7.46% | — | 6.74% | 6.86% | — | 12.21% | 12.74% |
| Nov 30, 2005 | 7.94% | — | 25.56% | 9.60% | — | 8.68% | 14.07% |
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, ROA, long-term trends, comparison to sector (consumer services)
| Carnival Corp. & plc | Consumer Services | |
|---|---|---|
| Nov 30, 2023 | -0.15% | 14.95% |
| Nov 30, 2022 | -11.78% | 10.21% |
| Nov 30, 2021 | -17.81% | 9.37% |
| Nov 30, 2020 | -19.10% | 0.81% |
| Nov 30, 2019 | 6.64% | 15.92% |
| Nov 30, 2018 | 7.43% | 17.84% |
| Nov 30, 2017 | 6.39% | 14.00% |
| Nov 30, 2016 | 7.14% | 14.37% |
| Nov 30, 2015 | 4.60% | 14.62% |
| Nov 30, 2014 | 3.13% | 15.50% |
| Nov 30, 2013 | 2.69% | 12.90% |
| Nov 30, 2012 | 3.31% | 16.48% |
| Nov 30, 2011 | 4.95% | 17.53% |
| Nov 30, 2010 | 5.28% | 15.57% |
| Nov 30, 2009 | 4.86% | 14.40% |
| Nov 30, 2008 | 6.98% | 13.50% |
| Nov 30, 2007 | 7.04% | 8.95% |
| Nov 30, 2006 | 7.46% | 12.01% |
| Nov 30, 2005 | 7.94% | 9.60% |
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, ROA, long-term trends, comparison to industry (consumer discretionary)
| Carnival Corp. & plc | Consumer Discretionary | |
|---|---|---|
| Nov 30, 2023 | -0.15% | 7.57% |
| Nov 30, 2022 | -11.78% | 4.81% |
| Nov 30, 2021 | -17.81% | 7.99% |
| Nov 30, 2020 | -19.10% | 4.36% |
| Nov 30, 2019 | 6.64% | 5.57% |
| Nov 30, 2018 | 7.43% | 5.96% |
| Nov 30, 2017 | 6.39% | 4.05% |
| Nov 30, 2016 | 7.14% | 5.57% |
| Nov 30, 2015 | 4.60% | 6.25% |
| Nov 30, 2014 | 3.13% | 4.75% |
| Nov 30, 2013 | 2.69% | 5.52% |
| Nov 30, 2012 | 3.31% | 5.65% |
| Nov 30, 2011 | 4.95% | 9.48% |
| Nov 30, 2010 | 5.28% | 6.05% |
| Nov 30, 2009 | 4.86% | 4.67% |
| Nov 30, 2008 | 6.98% | 0.21% |
| Nov 30, 2007 | 7.04% | 2.85% |
| Nov 30, 2006 | 7.46% | 0.60% |
| Nov 30, 2005 | 7.94% | 3.80% |
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).