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Carnival Total Inventories

: $440 Mil (As of Feb. 2020)
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Carnival's total inventories for the quarter that ended in Feb. 2020 was $440 Mil. Carnival's average total inventories from the quarter that ended in Nov. 2019 to the quarter that ended in Feb. 2020 was $434 Mil.

In Ben Graham's calculation of liquidation value, inventory is only considered worth half of its book value. Carnival's liquidation value for the quarter that ended in Feb. 2020 was $-20,775 Mil.

Inventory can be measured by days sales of inventory (DSI). Carnival's days sales of inventory (DSI) for the three months ended in Feb. 2020 was 8.26.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Carnival's Days Inventory for the three months ended in Feb. 2020 was 11.23.

Inventory Turnover measures how fast the company turns over its inventory within a year. Carnival's Inventory Turnover for the quarter that ended in Feb. 2020 was 8.13.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Carnival's Inventory-to-Revenue for the quarter that ended in Feb. 2020 was 0.09.


Carnival Total Inventories Historical Data

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

* Premium members only.

Carnival Annual Data
Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19
Total Inventories Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 330.00 322.00 387.00 450.00 427.00

Carnival Quarterly Data
May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20
Total Inventories Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 444.00 501.00 482.00 427.00 440.00

Carnival Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.


Carnival  (NYSE:CCL) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of liquidation value, inventory is only considered worth half of its book value.

Carnival's liquidation value for the quarter that ended in Feb. 2020 is

Liquidation value (Q: Feb. 2020 )
=Cash, Cash Equivalents, Marketable Securities-Total Liabilities+(0.75 * Accounts Receivable)+(0.5 * Total Inventories)
=1354-22653+0.75 * 405+0.5 * 440
=-20,775

2. Inventory can be measured by Days Sales of Inventory (DSI).

Carnival's Days Sales of Inventory for the three months ended in Feb. 2020 is

Days Sales of Inventory (DSI)
=Total Inventories (Q: Feb. 2020 )/Revenue (Q: Feb. 2020 )*Days in Period
=433.5/4790*365 / 4
=8.26

3. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Carnival's Days Inventory for the three months ended in Feb. 2020 is calculated as:

Days Inventory=Total Inventories (Q: Feb. 2020 )/Cost of Goods Sold (Q: Feb. 2020 )*Days in Period
=433.5/3523*365 / 4
=11.23

4. Inventory Turnover measures how fast the company turns over its inventory within a year.

Carnival's Inventory Turnover for the quarter that ended in Feb. 2020 is calculated as

Inventory Turnover=Cost of Goods Sold (Q: Feb. 2020 ) / Total Inventories (Q: Feb. 2020 )
=3523 / 433.5
=8.13

5. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Carnival's Inventory to Revenue for the quarter that ended in Feb. 2020 is calculated as

Inventory-to-Revenue=Total Inventories (Q: Feb. 2020 ) / Revenue (Q: Feb. 2020 )
=433.5 / 4790
=0.09

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


Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.


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