Stock Analysis on Net

Carnival Corp. & plc (NYSE:CCL)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

Carnival Corp. & plc, long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018
Net fixed asset turnover 0.54 0.54 0.50 0.44 0.38 0.31 0.25 0.15 0.09 0.05 0.02 0.00 0.02 0.15 0.28 0.45 0.55 0.55 0.56 0.54 0.52 0.53
Net fixed asset turnover (including operating lease, right-of-use asset) 0.53 0.52 0.49 0.43 0.37 0.30 0.24 0.14 0.08 0.05 0.02 0.00 0.02 0.14 0.27 0.44 0.53 0.55 0.56 0.54 0.52 0.53
Total asset turnover 0.45 0.44 0.40 0.34 0.29 0.24 0.19 0.11 0.07 0.04 0.01 0.00 0.01 0.10 0.20 0.34 0.45 0.46 0.47 0.44 0.44 0.45
Equity turnover 3.38 3.14 2.88 2.98 2.43 1.72 1.15 0.71 0.34 0.16 0.04 0.01 0.04 0.27 0.53 0.81 0.86 0.82 0.81 0.82 0.80 0.77

Based on: 10-Q (reporting date: 2024-02-29), 10-K (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-K (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-K (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-K (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-K (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28).

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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Carnival Corp. & plc total asset turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Carnival Corp. & plc equity turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Net Fixed Asset Turnover

Carnival Corp. & plc, net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018
Selected Financial Data (US$ in millions)
Revenues 5,406 5,396 6,854 4,911 4,432 3,839 4,305 2,401 1,623 1,286 546 50 26 35 31 740 4,789 4,781 6,533 4,838 4,673 4,456 5,836 4,357 4,232
Property and equipment, net 41,515 40,116 39,952 39,584 39,359 38,687 38,137 39,262 40,183 38,107 38,917 39,499 39,583 38,073 36,926 37,139 38,023 38,131 36,466 36,814 37,005 35,336 35,178 35,227 35,027
Long-term Activity Ratio
Net fixed asset turnover1 0.54 0.54 0.50 0.44 0.38 0.31 0.25 0.15 0.09 0.05 0.02 0.00 0.02 0.15 0.28 0.45 0.55 0.55 0.56 0.54 0.52 0.53
Benchmarks
Net Fixed Asset Turnover, Competitors2
Airbnb Inc. 61.98 65.31 68.85 71.38 69.41 67.78 62.54 46.34 38.27
Booking Holdings Inc. 27.25 28.14 26.42 26.00 25.55 18.23 17.07 14.82 13.33 12.09 9.60 7.70 8.99 11.96 15.35 20.16 20.41
Chipotle Mexican Grill Inc. 4.63 4.55 4.56 4.59 4.53 4.43 4.50 4.49 4.40 4.27 4.18 4.11 3.91 3.78 3.76 3.75 3.88 3.83
McDonald’s Corp. 1.02 1.05 1.00 0.98 0.98 1.02 1.01 0.97 0.94 0.92 0.88 0.80 0.77 0.79 0.81 0.88 0.87
Starbucks Corp. 4.82 4.87 4.96 4.99 4.91 4.92 4.99 4.85 4.75 4.56 4.41 3.89 3.75 3.77 3.82 4.17 4.22 4.12 4.21 4.16 4.19 4.17

Based on: 10-Q (reporting date: 2024-02-29), 10-K (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-K (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-K (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-K (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-K (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28).

1 Q1 2024 Calculation
Net fixed asset turnover = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Property and equipment, net
= (5,406 + 5,396 + 6,854 + 4,911) ÷ 41,515 = 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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

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 (quarterly data)

Microsoft Excel
Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018
Selected Financial Data (US$ in millions)
Revenues 5,406 5,396 6,854 4,911 4,432 3,839 4,305 2,401 1,623 1,286 546 50 26 35 31 740 4,789 4,781 6,533 4,838 4,673 4,456 5,836 4,357 4,232
 
Property and equipment, net 41,515 40,116 39,952 39,584 39,359 38,687 38,137 39,262 40,183 38,107 38,917 39,499 39,583 38,073 36,926 37,139 38,023 38,131 36,466 36,814 37,005 35,336 35,178 35,227 35,027
Operating lease right-of-use assets, net 1,238 1,265 1,277 1,310 1,246 1,274 1,163 1,205 1,278 1,333 1,366 1,415 1,354 1,370 1,379 1,413 1,469
Property and equipment, net (including operating lease, right-of-use asset) 42,753 41,381 41,229 40,894 40,605 39,961 39,300 40,467 41,461 39,440 40,283 40,914 40,937 39,443 38,305 38,552 39,492 38,131 36,466 36,814 37,005 35,336 35,178 35,227 35,027
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 0.53 0.52 0.49 0.43 0.37 0.30 0.24 0.14 0.08 0.05 0.02 0.00 0.02 0.14 0.27 0.44 0.53 0.55 0.56 0.54 0.52 0.53
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Airbnb Inc. 35.54 35.56 34.55 33.49 32.43 29.45 26.12 16.30 13.98
Booking Holdings Inc. 14.35 14.99 14.43 13.76 13.01 12.51 11.24 9.40 8.31 7.63 5.96 4.65 5.29 6.78 8.60 11.03 11.09
Chipotle Mexican Grill Inc. 1.74 1.72 1.69 1.70 1.69 1.64 1.62 1.62 1.59 1.54 1.49 1.48 1.41 1.38 1.37 1.36 1.40 1.41
Starbucks Corp. 2.26 2.28 2.30 2.26 2.22 2.21 2.21 2.14 2.08 1.99 1.91 1.68 1.61 1.64 1.66 1.82 1.83 4.12 4.21 4.16 4.19 4.17

Based on: 10-Q (reporting date: 2024-02-29), 10-K (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-K (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-K (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-K (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-K (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28).

1 Q1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Property and equipment, net (including operating lease, right-of-use asset)
= (5,406 + 5,396 + 6,854 + 4,911) ÷ 42,753 = 0.53

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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Total Asset Turnover

Carnival Corp. & plc, total asset turnover calculation (quarterly data)

Microsoft Excel
Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018
Selected Financial Data (US$ in millions)
Revenues 5,406 5,396 6,854 4,911 4,432 3,839 4,305 2,401 1,623 1,286 546 50 26 35 31 740 4,789 4,781 6,533 4,838 4,673 4,456 5,836 4,357 4,232
Total assets 49,761 49,120 49,756 51,873 51,985 51,703 51,917 52,988 53,281 53,344 53,514 55,064 57,226 53,593 50,818 49,817 46,943 45,058 44,001 44,512 43,930 42,401 41,753 42,184 41,441
Long-term Activity Ratio
Total asset turnover1 0.45 0.44 0.40 0.34 0.29 0.24 0.19 0.11 0.07 0.04 0.01 0.00 0.01 0.10 0.20 0.34 0.45 0.46 0.47 0.44 0.44 0.45
Benchmarks
Total Asset Turnover, Competitors2
Airbnb Inc. 0.48 0.45 0.43 0.44 0.52 0.50 0.39 0.39 0.44
Booking Holdings Inc. 0.88 0.80 0.73 0.72 0.67 0.73 0.60 0.56 0.46 0.39 0.30 0.24 0.31 0.40 0.54 0.81 0.70
Chipotle Mexican Grill Inc. 1.21 1.23 1.21 1.23 1.27 1.25 1.23 1.24 1.21 1.13 1.09 1.08 1.03 1.00 1.03 1.05 1.09 1.09
McDonald’s Corp. 0.45 0.48 0.48 0.45 0.46 0.48 0.48 0.47 0.43 0.43 0.42 0.38 0.36 0.38 0.39 0.41 0.44
Starbucks Corp. 1.26 1.22 1.22 1.19 1.16 1.15 1.14 1.08 1.05 0.93 0.92 0.84 0.77 0.80 0.83 0.97 0.97 1.38 1.25 1.45 1.27 1.02

Based on: 10-Q (reporting date: 2024-02-29), 10-K (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-K (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-K (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-K (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-K (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28).

1 Q1 2024 Calculation
Total asset turnover = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Total assets
= (5,406 + 5,396 + 6,854 + 4,911) ÷ 49,761 = 0.45

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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Equity Turnover

Carnival Corp. & plc, equity turnover calculation (quarterly data)

Microsoft Excel
Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018
Selected Financial Data (US$ in millions)
Revenues 5,406 5,396 6,854 4,911 4,432 3,839 4,305 2,401 1,623 1,286 546 50 26 35 31 740 4,789 4,781 6,533 4,838 4,673 4,456 5,836 4,357 4,232
Shareholders’ equity 6,682 6,882 6,960 5,865 6,170 7,065 8,379 8,260 10,311 12,144 14,863 17,876 19,813 20,555 19,503 20,840 24,290 25,365 25,295 24,108 24,241 24,443 24,654 23,933 24,382
Long-term Activity Ratio
Equity turnover1 3.38 3.14 2.88 2.98 2.43 1.72 1.15 0.71 0.34 0.16 0.04 0.01 0.04 0.27 0.53 0.81 0.86 0.82 0.81 0.82 0.80 0.77
Benchmarks
Equity Turnover, Competitors2
Airbnb Inc. 1.21 1.05 1.80 1.65 1.51 1.45 1.41 1.40 1.25
Booking Holdings Inc. 16.92 6.14 4.37 3.66 2.86 1.77 1.66 1.50 1.19 1.39 1.81 2.82 3.79 2.54
Chipotle Mexican Grill Inc. 3.04 3.22 3.30 3.36 3.62 3.65 3.62 3.78 3.67 3.29 3.11 3.15 3.01 2.96 3.22 3.30 3.40 3.32
McDonald’s Corp.
Starbucks Corp. 21.14

Based on: 10-Q (reporting date: 2024-02-29), 10-K (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-K (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-K (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-K (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-K (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28).

1 Q1 2024 Calculation
Equity turnover = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Shareholders’ equity
= (5,406 + 5,396 + 6,854 + 4,911) ÷ 6,682 = 3.38

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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.