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GuruFocus has detected 2 Warning Signs with Carnival Corp \$CCL.
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Carnival Corp (NYSE:CCL)
Change In Receivables
\$-9 Mil (As of Aug. 2016)

Carnival Corp's change in receivables for the quarter that ended in Aug. 2016 was \$-9 Mil. It means Carnival Corp's accounts receivables declined by \$9 Mil from May. 2016 to Aug. 2016 .

Carnival Corp's change in receivables for the fiscal year that ended in Nov. 2015 was \$135 Mil. It means Carnival Corp's accounts receivables increased by \$135 Mil from Nov. 2014 to Nov. 2015 .

Carnival Corp's accounts receivables for the quarter that ended in Aug. 2016 was \$423 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 Aug. 2016 was 7.57.

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 Aug. 2016 was \$-15,496 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 Aug. 2016 is calculated as:

 Days Sales Outstanding = Account Receivable / Revenue * Days in Period = 423 / 5097 * 91 = 7.57

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 Aug. 2016 is calculated as:

 Liquidation Value = Cash and Cash Equivalents - Total Liabilities + (0.75 * Account Receivable) + (0.5 * Inventory) = 462 - 16432 + 0.75 * 423 + 0.5 * 314 = -15,496

* 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 -15 296 497 135 0

Carnival Corp Quarterly Data

 Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 ChangeInReceivables 350 42 -1 -23 95 64 -30 -6 -9 0
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