Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Carnival Corp. & plc, long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Carnival Corp. & plc net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Carnival Corp. & plc net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Carnival Corp. & plc total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Carnival Corp. & plc equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover
Carnival Corp. & plc, net fixed asset turnover calculation, comparison to benchmarks
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 21,593) | 12,168) | 1,908) | 5,595) | 20,825) | 18,881) | |
| Property and equipment, net | 40,116) | 38,687) | 38,107) | 38,073) | 38,131) | 35,336) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 0.54 | 0.31 | 0.05 | 0.15 | 0.55 | 0.53 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Airbnb Inc. | 61.98 | 69.41 | 38.27 | 12.50 | — | — | |
| Booking Holdings Inc. | 27.25 | 25.55 | 13.33 | 8.99 | 20.41 | — | |
| Chipotle Mexican Grill Inc. | 4.55 | 4.43 | 4.27 | 3.78 | 3.83 | — | |
| McDonald’s Corp. | 0.95 | 0.92 | 0.94 | 0.77 | 0.87 | — | |
| Starbucks Corp. | 4.87 | 4.92 | 4.56 | 3.77 | 4.12 | 4.17 | |
| Net Fixed Asset Turnover, Sector | |||||||
| Consumer Services | 1.61 | 1.39 | 1.09 | 0.90 | 1.26 | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Consumer Discretionary | 3.24 | 3.18 | 2.98 | 2.99 | 3.28 | — | |
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).
1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 21,593 ÷ 40,116 = 0.54
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Carnival Corp. & plc net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Carnival Corp. & plc, net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 21,593) | 12,168) | 1,908) | 5,595) | 20,825) | 18,881) | |
| Property and equipment, net | 40,116) | 38,687) | 38,107) | 38,073) | 38,131) | 35,336) | |
| Operating lease right-of-use assets, net | 1,265) | 1,274) | 1,333) | 1,370) | —) | —) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 41,381) | 39,961) | 39,440) | 39,443) | 38,131) | 35,336) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 0.52 | 0.30 | 0.05 | 0.14 | 0.55 | 0.53 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Airbnb Inc. | 35.54 | 32.43 | 13.98 | 5.16 | — | — | |
| Booking Holdings Inc. | 14.35 | 13.01 | 8.31 | 5.29 | 11.09 | — | |
| Chipotle Mexican Grill Inc. | 1.72 | 1.64 | 1.54 | 1.38 | 1.41 | — | |
| McDonald’s Corp. | 0.66 | 0.64 | 0.61 | 0.50 | 0.56 | — | |
| Starbucks Corp. | 2.28 | 2.21 | 1.99 | 1.64 | 4.12 | 4.17 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Consumer Services | 1.20 | 1.04 | 0.80 | 0.65 | 1.02 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Consumer Discretionary | 2.53 | 2.48 | 2.32 | 2.34 | 2.83 | — | |
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).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 21,593 ÷ 41,381 = 0.52
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Carnival Corp. & plc net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Carnival Corp. & plc, total asset turnover calculation, comparison to benchmarks
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 21,593) | 12,168) | 1,908) | 5,595) | 20,825) | 18,881) | |
| Total assets | 49,120) | 51,703) | 53,344) | 53,593) | 45,058) | 42,401) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 0.44 | 0.24 | 0.04 | 0.10 | 0.46 | 0.45 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Airbnb Inc. | 0.48 | 0.52 | 0.44 | 0.32 | — | — | |
| Booking Holdings Inc. | 0.88 | 0.67 | 0.46 | 0.31 | 0.70 | — | |
| Chipotle Mexican Grill Inc. | 1.23 | 1.25 | 1.13 | 1.00 | 1.09 | — | |
| McDonald’s Corp. | 0.45 | 0.46 | 0.43 | 0.36 | 0.44 | — | |
| Starbucks Corp. | 1.22 | 1.15 | 0.93 | 0.80 | 1.38 | 1.02 | |
| Total Asset Turnover, Sector | |||||||
| Consumer Services | 0.66 | 0.57 | 0.43 | 0.37 | 0.64 | — | |
| Total Asset Turnover, Industry | |||||||
| Consumer Discretionary | 0.95 | 0.93 | 0.84 | 0.81 | 0.92 | — | |
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).
1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= 21,593 ÷ 49,120 = 0.44
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Carnival Corp. & plc total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Equity Turnover
Carnival Corp. & plc, equity turnover calculation, comparison to benchmarks
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | Nov 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 21,593) | 12,168) | 1,908) | 5,595) | 20,825) | 18,881) | |
| Shareholders’ equity | 6,882) | 7,065) | 12,144) | 20,555) | 25,365) | 24,443) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 3.14 | 1.72 | 0.16 | 0.27 | 0.82 | 0.77 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Airbnb Inc. | 1.21 | 1.51 | 1.25 | 1.16 | — | — | |
| Booking Holdings Inc. | — | 6.14 | 1.77 | 1.39 | 2.54 | — | |
| Chipotle Mexican Grill Inc. | 3.22 | 3.65 | 3.29 | 2.96 | 3.32 | — | |
| McDonald’s Corp. | — | — | — | — | — | — | |
| Starbucks Corp. | — | — | — | — | — | 21.14 | |
| Equity Turnover, Sector | |||||||
| Consumer Services | 46.63 | 33.19 | 5.09 | 4.37 | 4.80 | — | |
| Equity Turnover, Industry | |||||||
| Consumer Discretionary | 3.85 | 4.15 | 3.60 | 4.40 | 5.13 | — | |
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).
1 2023 Calculation
Equity turnover = Revenues ÷ Shareholders’ equity
= 21,593 ÷ 6,882 = 3.14
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Carnival Corp. & plc equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |