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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
$23 Mil (As of Nov. 2016)

Carnival Corp's change in receivables for the quarter that ended in Nov. 2016 was $23 Mil. It means Carnival Corp's accounts receivables increased by $23 Mil from Aug. 2016 to Nov. 2016 .

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 Nov. 2016 was $298 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 Nov. 2016 was 6.91.

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 Nov. 2016 was $-15,352 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 Nov. 2016 is calculated as:

Days Sales Outstanding
=Account Receivable/Revenue*Days in Period
=298/3935*91
=6.91

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 Nov. 2016 is calculated as:

Liquidation Value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=603-16339+0.75 * 298+0.5 * 322
=-15,352

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


Related Terms

Days Sales Outstanding, Account Receivable, Revenue, NCAV, Cash and Cash Equivalents, Total Liabilities, Inventory


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

Nov07Nov08Nov09Nov10Nov11Nov12Nov13Nov14Nov15Nov16
ChangeInReceivables -119-7081106-43-15296754-22

Carnival Corp Quarterly Data

Aug14Nov14Feb15May15Aug15Nov15Feb16May16Aug16Nov16
ChangeInReceivables 350-380-1-2395-67-30-6-923
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