Carnival (FRA:CVC1) ROCE %

: 2.75% (As of Feb. 2024)

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ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Carnival's annualized ROCE % for the quarter that ended in Feb. 2024 was 2.75%.

Carnival ROCE % Historical Data

The historical data trend for Carnival's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Carnival Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

ROCE %

9.58

-22.46

-18.36

-11.26

4.93

Carnival Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
ROCE %																-1.40	1.37	16.05	4.49	2.75

Carnival ROCE % Calculation

Carnival's annualized ROCE % for the fiscal year that ended in Nov. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Nov. 2023 )		(A: Nov. 2022 )		(A: Nov. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Nov. 2023 )		(A: Nov. 2022 )		(A: Nov. 2023 )
	=	1851.696	/	( ( (50720.643 - 10403.505)	+	(45386.88 - 10608.444) )	/ 2 )
	=	1851.696	/	( (40317.138	+	34778.436)	/ 2 )
	=	1851.696	/	37547.787
	=	4.93 %

Carnival's ROCE % of for the quarter that ended in Feb. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	952.956	/	( ( (45386.88 - 10608.444)	+	(46128.447 - 11491.092) )	/ 2 )
	=	952.956	/	( ( 34778.436	+	34637.355 )	/ 2 )
	=	952.956	/	34707.8955
	=	2.75 %

(1) Note: The EBIT data used here is four times the quarterly (Feb. 2024) EBIT data.

Carnival (FRA:CVC1) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Carnival ROCE % Related Terms

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Carnival (FRA:CVC1) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Carnival Corp (FRA:CVC1) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CCL:USA CCL:Peru CCL1:Mexico C1CL34:Brazil

Address

3655 N.W. 87th Avenue, Miami, FL, USA, 33178-2428

Website

https://www.carnivalcorp.com

Carnival is the largest global cruise company, with 92 ships in service at the end of fiscal 2023. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted nearly 13 million guests in 2019, prior to COVID-19, a level it has reached again in 2023.

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