Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Carnival Corp. & plc, short-term (operating) activity ratios (quarterly data)
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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Carnival Corp. & plc inventory turnover ratio deteriorated from Q3 2023 to Q4 2023 but then slightly improved from Q4 2023 to Q1 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Carnival Corp. & plc receivables turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Carnival Corp. & plc payables turnover ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Carnival Corp. & plc operating cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Carnival Corp. & plc number of days of payables outstanding increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Carnival Corp. & plc cash conversion cycle improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Inventory Turnover
Carnival Corp. & plc, inventory turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||||||||||||
| Cruise and tour operating expenses | 3,704) | 3,628) | 3,921) | 3,458) | 3,310) | 3,666) | 3,378) | 2,683) | 2,030) | 1,823) | 1,616) | 681) | 535) | 689) | 1,549) | 2,484) | 3,523) | 3,076) | 3,532) | 3,159) | 3,142) | 2,741) | 2,958) | 2,681) | 2,709) | ||||||||
| Inventories | 531) | 528) | 483) | 438) | 448) | 428) | 420) | 425) | 392) | 356) | 322) | 308) | 312) | 335) | 349) | 362) | 440) | 427) | 482) | 501) | 444) | 450) | 405) | 402) | 394) | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Inventory turnover1 | 27.70 | 27.12 | 29.72 | 31.53 | 29.10 | 27.47 | 23.60 | 19.18 | 15.69 | 13.08 | 10.93 | 11.21 | 16.85 | 24.61 | 30.46 | 34.85 | 30.20 | 30.23 | 26.09 | 23.95 | 25.95 | 24.64 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | 197.22 | 185.34 | 175.86 | 191.68 | 194.58 | 184.27 | 191.96 | 214.37 | 203.97 | 177.91 | 195.78 | 213.29 | 211.26 | 186.94 | 189.01 | 191.72 | 195.93 | 170.29 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 181.22 | 155.76 | 168.52 | 146.30 | 142.62 | 141.94 | 175.32 | 183.32 | 165.10 | 144.74 | 156.70 | 159.38 | 155.54 | 136.62 | 158.76 | 166.87 | 195.07 | 154.59 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 16.09 | 14.46 | 12.95 | 12.54 | 11.70 | 10.97 | 10.97 | 11.79 | 13.24 | 12.89 | 12.64 | 12.25 | 12.45 | 11.90 | 11.80 | 13.06 | 13.72 | 12.44 | 12.24 | 12.56 | 13.20 | 12.40 | — | — | — | ||||||||
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
Inventory turnover
= (Cruise and tour operating expensesQ1 2024
+ Cruise and tour operating expensesQ4 2023
+ Cruise and tour operating expensesQ3 2023
+ Cruise and tour operating expensesQ2 2023)
÷ Inventories
= (3,704 + 3,628 + 3,921 + 3,458)
÷ 531 = 27.70
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Carnival Corp. & plc inventory turnover ratio deteriorated from Q3 2023 to Q4 2023 but then slightly improved from Q4 2023 to Q1 2024. |
Receivables Turnover
Carnival Corp. & plc, receivables turnover calculation (quarterly data)
| 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) | ||||||||
| Trade and other receivables, net | 644) | 556) | 485) | 449) | 514) | 395) | 360) | 359) | 267) | 246) | 281) | 218) | 250) | 273) | 376) | 604) | 405) | 444) | 441) | 405) | 406) | 358) | 366) | 342) | 345) | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Receivables turnover1 | 35.04 | 38.84 | 41.31 | 38.95 | 29.14 | 30.81 | 26.71 | 16.31 | 13.13 | 7.76 | 2.34 | 0.65 | 3.33 | 20.49 | 27.50 | 27.89 | 51.71 | 46.90 | 46.49 | 48.90 | 47.59 | 52.74 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | 48.31 | 39.83 | 39.84 | 34.42 | 38.36 | 42.00 | 45.08 | 36.09 | 42.42 | 42.04 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | 6.68 | 6.57 | 5.98 | 6.90 | 8.87 | 7.67 | 7.01 | 6.51 | 7.77 | 8.07 | 5.93 | 5.57 | 9.64 | 12.85 | 10.36 | 19.96 | 21.76 | 8.97 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | 113.59 | 85.44 | 134.08 | 152.24 | 136.37 | 80.79 | 118.06 | 97.41 | 87.64 | 75.77 | 94.54 | 90.40 | 92.26 | 57.27 | 83.86 | 82.63 | 89.64 | 69.36 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 4.41 | 3.92 | 4.22 | 4.12 | 4.18 | 4.14 | 4.80 | 5.20 | 5.93 | 5.23 | 5.19 | 5.07 | 4.77 | 3.86 | 3.46 | 2.94 | 5.43 | 4.24 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 31.49 | 30.38 | 30.71 | 28.67 | 28.30 | 27.44 | 27.91 | 31.27 | 29.45 | 30.92 | 29.76 | 27.09 | 26.09 | 26.62 | 27.31 | 28.33 | 29.70 | 30.15 | 32.97 | 36.32 | 35.04 | 35.67 | — | — | — | ||||||||
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
Receivables turnover
= (RevenuesQ1 2024
+ RevenuesQ4 2023
+ RevenuesQ3 2023
+ RevenuesQ2 2023)
÷ Trade and other receivables, net
= (5,406 + 5,396 + 6,854 + 4,911)
÷ 644 = 35.04
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Carnival Corp. & plc receivables turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Payables Turnover
Carnival Corp. & plc, payables turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||||||||||||
| Cruise and tour operating expenses | 3,704) | 3,628) | 3,921) | 3,458) | 3,310) | 3,666) | 3,378) | 2,683) | 2,030) | 1,823) | 1,616) | 681) | 535) | 689) | 1,549) | 2,484) | 3,523) | 3,076) | 3,532) | 3,159) | 3,142) | 2,741) | 2,958) | 2,681) | 2,709) | ||||||||
| Accounts payable | 1,103) | 1,168) | 1,103) | 1,042) | 1,022) | 1,050) | 920) | 912) | 772) | 797) | 672) | 499) | 505) | 624) | 691) | 1,809) | 904) | 756) | 695) | 792) | 798) | 730) | 666) | 745) | 795) | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Payables turnover1 | 13.34 | 12.26 | 13.01 | 13.26 | 12.76 | 11.20 | 10.78 | 8.94 | 7.97 | 5.84 | 5.24 | 6.92 | 10.41 | 13.21 | 15.39 | 6.97 | 14.70 | 17.08 | 18.09 | 15.15 | 14.44 | 15.19 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Booking Holdings Inc. | 6.73 | 6.14 | 6.83 | 9.11 | 8.52 | 6.82 | 7.52 | 6.54 | 8.32 | 6.91 | 6.29 | 6.98 | 9.91 | 9.25 | 7.99 | 19.44 | 15.68 | 12.16 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | 38.02 | 36.86 | 34.04 | 42.59 | 36.87 | 35.61 | 38.60 | 39.82 | 36.05 | 35.79 | 32.44 | 38.26 | 34.83 | 40.52 | 30.59 | 28.88 | 35.06 | 38.37 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 8.91 | 7.46 | 9.30 | 9.50 | 9.05 | 7.53 | 9.57 | 10.74 | 11.40 | 7.99 | 10.16 | 10.42 | 10.52 | 9.42 | 10.18 | 13.20 | 11.35 | 7.85 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 18.13 | 16.92 | 17.11 | 17.49 | 18.12 | 16.57 | 15.70 | 17.03 | 16.81 | 17.06 | 17.36 | 17.82 | 17.44 | 18.50 | 21.71 | 19.54 | 17.80 | 15.99 | 16.22 | 16.53 | 16.25 | 14.73 | — | — | — | ||||||||
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
Payables turnover
= (Cruise and tour operating expensesQ1 2024
+ Cruise and tour operating expensesQ4 2023
+ Cruise and tour operating expensesQ3 2023
+ Cruise and tour operating expensesQ2 2023)
÷ Accounts payable
= (3,704 + 3,628 + 3,921 + 3,458)
÷ 1,103 = 13.34
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Carnival Corp. & plc payables turnover ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
Working Capital Turnover
Carnival Corp. & plc, working capital turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||||||||||||
| Current assets | 4,484) | 5,266) | 4,683) | 6,206) | 7,144) | 7,492) | 8,432) | 8,554) | 8,057) | 10,133) | 8,909) | 10,198) | 12,459) | 10,563) | 9,268) | 8,222) | 2,885) | 2,059) | 2,712) | 2,835) | 2,101) | 2,225) | 1,755) | 2,278) | 1,667) | ||||||||
| Less: Current liabilities | 12,396) | 11,481) | 11,008) | 11,835) | 11,088) | 10,605) | 12,954) | 13,380) | 10,920) | 10,408) | 9,491) | 8,754) | 8,619) | 8,686) | 10,184) | 11,858) | 10,716) | 9,127) | 8,932) | 10,377) | 9,642) | 9,204) | 8,020) | 9,308) | 8,851) | ||||||||
| Working capital | (7,912) | (6,215) | (6,325) | (5,629) | (3,944) | (3,113) | (4,522) | (4,826) | (2,863) | (275) | (582) | 1,444) | 3,840) | 1,877) | (916) | (3,636) | (7,831) | (7,068) | (6,220) | (7,542) | (7,541) | (6,979) | (6,265) | (7,030) | (7,184) | ||||||||
| 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) | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Working capital turnover1 | — | — | — | — | — | — | — | — | — | — | — | 0.10 | 0.22 | 2.98 | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | 1.64 | 1.51 | 1.25 | 1.41 | 1.31 | 1.22 | 1.17 | 1.13 | 1.10 | 0.99 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | 6.04 | 5.77 | 3.65 | 2.82 | 2.77 | 2.33 | 4.14 | 3.16 | 2.32 | 1.59 | 1.07 | 1.02 | 0.74 | 0.77 | 1.03 | 1.50 | 2.83 | 3.37 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | 15.74 | 16.73 | 16.40 | 16.17 | 24.45 | 34.00 | 32.42 | 37.95 | 29.78 | 14.86 | 10.78 | 11.18 | 10.14 | 10.01 | 14.20 | 13.16 | 13.89 | 13.77 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | — | 8.64 | 3.33 | 7.11 | 3.99 | 5.39 | 4.03 | 6.64 | 23.54 | 3.13 | 5.58 | 5.19 | 9.32 | 131.28 | 18.14 | — | 2.58 | — | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | 18.11 | 205.59 | 50.26 | 48.92 | 51.17 | — | — | — | — | 14.17 | — | 11.24 | 3.63 | — | — | — | ||||||||
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
Working capital turnover
= (RevenuesQ1 2024
+ RevenuesQ4 2023
+ RevenuesQ3 2023
+ RevenuesQ2 2023)
÷ Working capital
= (5,406 + 5,396 + 6,854 + 4,911)
÷ -7,912 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
Carnival Corp. & plc, average inventory processing period calculation (quarterly data)
| 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 | |||||||||||||||||||||||||||||||||
| Inventory turnover | 27.70 | 27.12 | 29.72 | 31.53 | 29.10 | 27.47 | 23.60 | 19.18 | 15.69 | 13.08 | 10.93 | 11.21 | 16.85 | 24.61 | 30.46 | 34.85 | 30.20 | 30.23 | 26.09 | 23.95 | 25.95 | 24.64 | — | — | — | ||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||
| Average inventory processing period1 | 13 | 13 | 12 | 12 | 13 | 13 | 15 | 19 | 23 | 28 | 33 | 33 | 22 | 15 | 12 | 10 | 12 | 12 | 14 | 15 | 14 | 15 | — | — | — | ||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 2 | 2 | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 23 | 25 | 28 | 29 | 31 | 33 | 33 | 31 | 28 | 28 | 29 | 30 | 29 | 31 | 31 | 28 | 27 | 29 | 30 | 29 | 28 | 29 | — | — | — | ||||||||
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 27.70 = 13
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. |
Average Receivable Collection Period
Carnival Corp. & plc, average receivable collection period calculation (quarterly data)
| 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 | |||||||||||||||||||||||||||||||||
| Receivables turnover | 35.04 | 38.84 | 41.31 | 38.95 | 29.14 | 30.81 | 26.71 | 16.31 | 13.13 | 7.76 | 2.34 | 0.65 | 3.33 | 20.49 | 27.50 | 27.89 | 51.71 | 46.90 | 46.49 | 48.90 | 47.59 | 52.74 | — | — | — | ||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||
| Average receivable collection period1 | 10 | 9 | 9 | 9 | 13 | 12 | 14 | 22 | 28 | 47 | 156 | 560 | 110 | 18 | 13 | 13 | 7 | 8 | 8 | 7 | 8 | 7 | — | — | — | ||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | 8 | 9 | 9 | 11 | 10 | 9 | 8 | 10 | 9 | 9 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | 55 | 56 | 61 | 53 | 41 | 48 | 52 | 56 | 47 | 45 | 62 | 66 | 38 | 28 | 35 | 18 | 17 | 41 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | 3 | 4 | 3 | 2 | 3 | 5 | 3 | 4 | 4 | 5 | 4 | 4 | 4 | 6 | 4 | 4 | 4 | 5 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 83 | 93 | 87 | 89 | 87 | 88 | 76 | 70 | 62 | 70 | 70 | 72 | 76 | 95 | 106 | 124 | 67 | 86 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 12 | 12 | 12 | 12 | 13 | 14 | 14 | 13 | 13 | 12 | 12 | 11 | 10 | 10 | 10 | — | — | — | ||||||||
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 35.04 = 10
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. |
Operating Cycle
Carnival Corp. & plc, operating cycle calculation (quarterly data)
No. days
| 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 | |||||||||||||||||||||||||||||||||
| Average inventory processing period | 13 | 13 | 12 | 12 | 13 | 13 | 15 | 19 | 23 | 28 | 33 | 33 | 22 | 15 | 12 | 10 | 12 | 12 | 14 | 15 | 14 | 15 | — | — | — | ||||||||
| Average receivable collection period | 10 | 9 | 9 | 9 | 13 | 12 | 14 | 22 | 28 | 47 | 156 | 560 | 110 | 18 | 13 | 13 | 7 | 8 | 8 | 7 | 8 | 7 | — | — | — | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Operating cycle1 | 23 | 22 | 21 | 21 | 26 | 25 | 29 | 41 | 51 | 75 | 189 | 593 | 132 | 33 | 25 | 23 | 19 | 20 | 22 | 22 | 22 | 22 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | |||||||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | 5 | 6 | 5 | 4 | 5 | 7 | 5 | 6 | 6 | 7 | 6 | 6 | 6 | 8 | 6 | 6 | 6 | 7 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 85 | 95 | 89 | 91 | 90 | 91 | 78 | 72 | 64 | 73 | 72 | 74 | 78 | 98 | 108 | 126 | 69 | 88 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 35 | 37 | 40 | 42 | 44 | 46 | 46 | 43 | 40 | 40 | 41 | 43 | 43 | 45 | 44 | 41 | 39 | 41 | 41 | 39 | 38 | 39 | — | — | — | ||||||||
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 13 + 10 = 23
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Carnival Corp. & plc operating cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Average Payables Payment Period
Carnival Corp. & plc, average payables payment period calculation (quarterly data)
| 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 | |||||||||||||||||||||||||||||||||
| Payables turnover | 13.34 | 12.26 | 13.01 | 13.26 | 12.76 | 11.20 | 10.78 | 8.94 | 7.97 | 5.84 | 5.24 | 6.92 | 10.41 | 13.21 | 15.39 | 6.97 | 14.70 | 17.08 | 18.09 | 15.15 | 14.44 | 15.19 | — | — | — | ||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||
| Average payables payment period1 | 27 | 30 | 28 | 28 | 29 | 33 | 34 | 41 | 46 | 62 | 70 | 53 | 35 | 28 | 24 | 52 | 25 | 21 | 20 | 24 | 25 | 24 | — | — | — | ||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | |||||||||||||||||||||||||||||||||
| Booking Holdings Inc. | 54 | 59 | 53 | 40 | 43 | 54 | 49 | 56 | 44 | 53 | 58 | 52 | 37 | 39 | 46 | 19 | 23 | 30 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | 10 | 10 | 11 | 9 | 10 | 10 | 9 | 9 | 10 | 10 | 11 | 10 | 10 | 9 | 12 | 13 | 10 | 10 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 41 | 49 | 39 | 38 | 40 | 48 | 38 | 34 | 32 | 46 | 36 | 35 | 35 | 39 | 36 | 28 | 32 | 46 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 20 | 22 | 21 | 21 | 20 | 22 | 23 | 21 | 22 | 21 | 21 | 20 | 21 | 20 | 17 | 19 | 21 | 23 | 23 | 22 | 22 | 25 | — | — | — | ||||||||
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.34 = 27
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Carnival Corp. & plc number of days of payables outstanding increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024. |
Cash Conversion Cycle
Carnival Corp. & plc, cash conversion cycle calculation (quarterly data)
No. days
| 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 | |||||||||||||||||||||||||||||||||
| Average inventory processing period | 13 | 13 | 12 | 12 | 13 | 13 | 15 | 19 | 23 | 28 | 33 | 33 | 22 | 15 | 12 | 10 | 12 | 12 | 14 | 15 | 14 | 15 | — | — | — | ||||||||
| Average receivable collection period | 10 | 9 | 9 | 9 | 13 | 12 | 14 | 22 | 28 | 47 | 156 | 560 | 110 | 18 | 13 | 13 | 7 | 8 | 8 | 7 | 8 | 7 | — | — | — | ||||||||
| Average payables payment period | 27 | 30 | 28 | 28 | 29 | 33 | 34 | 41 | 46 | 62 | 70 | 53 | 35 | 28 | 24 | 52 | 25 | 21 | 20 | 24 | 25 | 24 | — | — | — | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Cash conversion cycle1 | -4 | -8 | -7 | -7 | -3 | -8 | -5 | 0 | 5 | 13 | 119 | 540 | 97 | 5 | 1 | -29 | -6 | -1 | 2 | -2 | -3 | -2 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | |||||||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | -5 | -4 | -6 | -5 | -5 | -3 | -4 | -3 | -4 | -3 | -5 | -4 | -4 | -1 | -6 | -7 | -4 | -3 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | 44 | 46 | 50 | 53 | 50 | 43 | 40 | 38 | 32 | 27 | 36 | 39 | 43 | 59 | 72 | 98 | 37 | 42 | — | — | — | — | — | — | — | ||||||||
| Starbucks Corp. | 15 | 15 | 19 | 21 | 24 | 24 | 23 | 22 | 18 | 19 | 20 | 23 | 22 | 25 | 27 | 22 | 18 | 18 | 18 | 17 | 16 | 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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 13 + 10 – 27 = -4
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Carnival Corp. & plc cash conversion cycle improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |