Total Asset Turnover
since 2005
Calculation
Carnival Corp. & plc, total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Nov 30, 2023 | 0.44 | = | 21,593) | ÷ | 49,120) |
| Nov 30, 2022 | 0.24 | = | 12,168) | ÷ | 51,703) |
| Nov 30, 2021 | 0.04 | = | 1,908) | ÷ | 53,344) |
| Nov 30, 2020 | 0.10 | = | 5,595) | ÷ | 53,593) |
| Nov 30, 2019 | 0.46 | = | 20,825) | ÷ | 45,058) |
| Nov 30, 2018 | 0.45 | = | 18,881) | ÷ | 42,401) |
| Nov 30, 2017 | 0.43 | = | 17,510) | ÷ | 40,778) |
| Nov 30, 2016 | 0.42 | = | 16,389) | ÷ | 38,936) |
| Nov 30, 2015 | 0.41 | = | 15,714) | ÷ | 38,237) |
| Nov 30, 2014 | 0.40 | = | 15,884) | ÷ | 39,532) |
| Nov 30, 2013 | 0.39 | = | 15,456) | ÷ | 40,104) |
| Nov 30, 2012 | 0.39 | = | 15,382) | ÷ | 39,161) |
| Nov 30, 2011 | 0.41 | = | 15,793) | ÷ | 38,637) |
| Nov 30, 2010 | 0.39 | = | 14,469) | ÷ | 37,490) |
| Nov 30, 2009 | 0.36 | = | 13,157) | ÷ | 36,835) |
| Nov 30, 2008 | 0.44 | = | 14,646) | ÷ | 33,400) |
| Nov 30, 2007 | 0.38 | = | 13,033) | ÷ | 34,181) |
| Nov 30, 2006 | 0.39 | = | 11,839) | ÷ | 30,552) |
| Nov 30, 2005 | 0.39 | = | 11,087) | ÷ | 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 total asset turnover from 2005 to 2023 reveals three distinct operational phases: a period of long-term stability and gradual improvement, a severe contraction, and a subsequent rapid recovery.
- Operational Stability and Growth (2005–2019)
- From 2005 to 2019, the total asset turnover ratio remained relatively stable, fluctuating within a narrow range between 0.36 and 0.46. A gradual upward trend is observed during this interval, with the ratio climbing from 0.39 in 2005 to a peak of 0.46 in 2019. This period was characterized by a consistent correlation between asset expansion—growing from $28.432 billion to $45.058 billion—and revenue growth, which rose from $11.087 billion to $20.825 billion.
- Severe Utilization Decline (2020–2021)
- A precipitous decline in asset efficiency occurred in 2020 and 2021, with the turnover ratio dropping to 0.10 and 0.04, respectively. This collapse was driven by a dramatic reduction in revenues, which fell to $5.595 billion in 2020 and reached a low of $1.908 billion in 2021. Simultaneously, total assets increased, peaking at $53.593 billion in 2020, which exacerbated the decline in the turnover ratio as the asset base remained large while revenue generation ceased almost entirely.
- Recovery Phase (2022–2023)
- A robust recovery in asset utilization is evident starting in 2022, with the ratio rising to 0.24 and returning to 0.44 by November 30, 2023. This reversal is attributed to a sharp increase in revenues, which reached $21.593 billion in 2023, combined with a reduction in total assets to $49.120 billion. The 2023 turnover ratio indicates a return to the pre-pandemic baseline of efficiency, effectively neutralizing the impact of the 2020-2021 contraction.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Comparison to Competitors
Carnival Corp. & plc, total asset turnover, 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 | 0.44 | 0.48 | 0.88 | 1.23 | 0.80 | 0.45 | 1.22 |
| Nov 30, 2022 | 0.24 | 0.52 | 0.67 | 1.25 | 0.67 | 0.46 | 1.15 |
| Nov 30, 2021 | 0.04 | 0.44 | 0.46 | 1.13 | 0.72 | 0.43 | 0.93 |
| Nov 30, 2020 | 0.10 | 0.32 | 0.31 | 1.00 | 0.45 | 0.36 | 0.80 |
| Nov 30, 2019 | 0.46 | — | 0.70 | 1.09 | — | 0.44 | 1.38 |
| Nov 30, 2018 | 0.45 | — | 0.64 | 2.15 | — | 0.64 | 1.02 |
| Nov 30, 2017 | 0.43 | — | 0.50 | 2.19 | — | 0.68 | 1.56 |
| Nov 30, 2016 | 0.42 | — | 0.54 | 1.93 | — | 0.79 | 1.49 |
| Nov 30, 2015 | 0.41 | — | 0.53 | 1.65 | — | 0.67 | 1.54 |
| Nov 30, 2014 | 0.40 | — | 0.57 | 1.61 | — | 0.80 | 1.53 |
| Nov 30, 2013 | 0.39 | — | 0.65 | 1.60 | — | 0.77 | 1.29 |
| Nov 30, 2012 | 0.39 | — | 0.80 | 1.64 | — | 0.78 | 1.62 |
| Nov 30, 2011 | 0.41 | — | 1.10 | 1.59 | — | 0.82 | 1.59 |
| Nov 30, 2010 | 0.39 | — | 1.06 | 1.64 | — | 0.75 | 1.68 |
| Nov 30, 2009 | 0.36 | — | 1.27 | 1.58 | — | 0.75 | 1.75 |
| Nov 30, 2008 | 0.44 | — | 1.40 | 1.61 | — | 0.83 | 1.83 |
| Nov 30, 2007 | 0.38 | — | 1.04 | 1.50 | — | 0.78 | 1.76 |
| Nov 30, 2006 | 0.39 | — | 1.02 | 1.36 | — | 0.74 | 1.76 |
| Nov 30, 2005 | 0.39 | — | 1.28 | 1.60 | — | 0.68 | 1.81 |
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, total asset turnover, long-term trends, comparison to sector (consumer services)
| Carnival Corp. & plc | Consumer Services | |
|---|---|---|
| Nov 30, 2023 | 0.44 | 0.74 |
| Nov 30, 2022 | 0.24 | 0.70 |
| Nov 30, 2021 | 0.04 | 0.60 |
| Nov 30, 2020 | 0.10 | 0.49 |
| Nov 30, 2019 | 0.46 | 0.73 |
| Nov 30, 2018 | 0.45 | 0.80 |
| Nov 30, 2017 | 0.43 | 0.82 |
| Nov 30, 2016 | 0.42 | 0.90 |
| Nov 30, 2015 | 0.41 | 0.83 |
| Nov 30, 2014 | 0.40 | 0.90 |
| Nov 30, 2013 | 0.39 | 0.87 |
| Nov 30, 2012 | 0.39 | 0.94 |
| Nov 30, 2011 | 0.41 | 0.99 |
| Nov 30, 2010 | 0.39 | 0.94 |
| Nov 30, 2009 | 0.36 | 0.94 |
| Nov 30, 2008 | 0.44 | 1.02 |
| Nov 30, 2007 | 0.38 | 0.94 |
| Nov 30, 2006 | 0.39 | 0.89 |
| Nov 30, 2005 | 0.39 | 0.82 |
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, total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| Carnival Corp. & plc | Consumer Discretionary | |
|---|---|---|
| Nov 30, 2023 | 0.44 | 0.97 |
| Nov 30, 2022 | 0.24 | 0.96 |
| Nov 30, 2021 | 0.04 | 0.88 |
| Nov 30, 2020 | 0.10 | 0.84 |
| Nov 30, 2019 | 0.46 | 0.94 |
| Nov 30, 2018 | 0.45 | 0.96 |
| Nov 30, 2017 | 0.43 | 0.93 |
| Nov 30, 2016 | 0.42 | 0.96 |
| Nov 30, 2015 | 0.41 | 0.98 |
| Nov 30, 2014 | 0.40 | 1.02 |
| Nov 30, 2013 | 0.39 | 1.04 |
| Nov 30, 2012 | 0.39 | 1.06 |
| Nov 30, 2011 | 0.41 | 1.08 |
| Nov 30, 2010 | 0.39 | 1.04 |
| Nov 30, 2009 | 0.36 | 0.94 |
| Nov 30, 2008 | 0.44 | 0.96 |
| Nov 30, 2007 | 0.38 | 0.88 |
| Nov 30, 2006 | 0.39 | 0.82 |
| Nov 30, 2005 | 0.39 | 0.85 |
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).