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GuruFocus has detected 3 Warning Signs with Carnival Corp \$CCL.
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Carnival Corp (NYSE:CCL)
Change In Receivables
\$-12 Mil (As of Feb. 2017)

Carnival Corp's change in receivables for the quarter that ended in Feb. 2017 was \$-12 Mil. It means Carnival Corp's accounts receivables declined by \$12 Mil from Nov. 2016 to Feb. 2017 .

Carnival Corp's change in receivables for the fiscal year that ended in Nov. 2016 was \$-22 Mil. It means Carnival Corp's accounts receivables declined by \$22 Mil from Nov. 2015 to Nov. 2016 .

Carnival Corp's accounts receivables for the quarter that ended in Feb. 2017 was \$307 Mil.

Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed. Carnival Corp's days sales outstanding for the three months ended in Feb. 2017 was 7.39.

In Ben Grahams calculation of liquidation value, Apple Inc's accounts receivables are only considered to be worth 75% of book value. Carnival Corp's liquidation value for the three months ended in Feb. 2017 was \$-15,195 Mil.

Definition

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.

Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Carnival Corp's Days Sales Outstanding for the quarter that ended in Feb. 2017 is calculated as:

 Days Sales Outstanding = Account Receivable / Revenue * Days in Period = 307 / 3791 * 91 = 7.39

2. In Ben Grahams calculation of liquidation value, Carnival Corp's accounts receivable are only considered to be worth 75% of book value:

Carnival Corp's liquidation value for the quarter that ended in Feb. 2017 is calculated as:

 Liquidation Value = Cash and Cash Equivalents - Total Liabilities + (0.75 * Account Receivable) + (0.5 * Inventory) = 437 - 16043 + 0.75 * 307 + 0.5 * 361 = -15,195

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Related Terms

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Carnival Corp Annual Data

 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 ChangeInReceivables -119 -70 81 106 -43 -15 -128 75 135 -22

Carnival Corp Quarterly Data

 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 ChangeInReceivables 41 -21 -64 156 64 -30 -6 -9 23 -12
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