Hello, can you please help me with the summary section in PART 4, CONCLUSIONS AND RECOMMENDATIONS-

I am not sure what to include in that section. please see the paper below. Than you so much!

PART 1, COMPANY OVERVIEW:

a.Brief description of the company

Carnival Cruise Line is the largest cruise company in the world. The company operates 101 cruise ships that travel to popular destinations in North America, Europe, Australia, and Asia under ten brands. It has a global market share of ~47%. Carnival Cruise Line is part of a family of companies owned by Carnival Corporation, which includes sister lines Princess Cruises, Holland America Line and Cunard Line, among others.

b.Company history

Carnival Corporation was founded as Carnival Cruise Line in 1972. The company grew steadily throughout the 1970s and 1980s, making an initial public offering on the New York Stock Exchange in 1987.The name Carnival Corporation was adopted in 1993, to distinguish the parent company from its flagship cruise line subsidiary. 2003

A combination of Carnival Corporation and P&O Princess Cruises - which includes Princess Cruises, P&O Cruises, AIDA Cruises, P&O Cruises Australia and tour operator Princess Tours - is completed, creating the first global cruise company. In 2003 Carnival Corporation leaders ring the closing bell at the NYSE on April 22, signaling the end of the first day of trading of Carnival Corporation and Carnival plc shares (symbol: CCL) on the New York and London stock exchanges. 2009 In Almere, Netherlands, Carnival Corporation's Center for Simulator Maritime Training (CSMART) is opened. CSMART establishes itself as a world-class training center, featuring the most advanced simulator equipment, technology and instructional tools to provide its deck and technical officers with a superior maritime training experience. In 2013,

Carnival Corporation & plc announced on June 25 its plan to split the roles of chairman and chief executive officer, effective July 3, 2013, with Micky Arison serving as Chairman of the Board of Directors and Arnold W. Donald, a member of the Board of Directors, assuming the role of CEO. In 2016, Carnival Corporation CEO Arnold Donald makes history as the first travel industry executive to deliver the opening keynote at CES, the world's largest consumer technology event. He uses his speech to announce OceanMedallion - the world's first interactive guest experience platform capable of transforming vacation travel with a highly personalized and elevated level of customized service on a large scale. In 2017, Carnival Corporation announces the expansion of its global Fleet Operations Centers with the opening of a new facility in Seattle. The company's first Fleet Operations Center - opened in Hamburg, Germany in 2015 - works in conjunction with the Seattle facility to provide real-time support for its 100+ ship fleet, the largest in the cruise industry. It also announces that a third Fleet Operations Center will open in Miami. In 2018, Carnival Corporation & plc's portfolio features global brands that include nine of the world's leading cruise lines operating in North and South America, Europe, Australia and Asia. Its cruise ship fleet, the largest in the world, consists of over 100 ships with 22 new vessels scheduled for delivery between 2018 and 2025.

c.Organization

Carnival Corporation & plc is a dual-listed company, Carnival is composed of two companies, Panama-incorporated US-headquartered Carnival Corporation and UK-based Carnival plc, which function as one entity. Carnival Corporation is listed on the New York Stock Exchange and Carnival plc is listed on the London Stock Exchange.

Board of Directors:

Micky Arison. Chairman of the Board. Carnival Corporation & plc

Sir Jonathon Band. Former First Sea Lord and Chief of Naval Staff. ...

Jason Glen Cahilly. Former Chief Strategic and Financial Officer. ...

Helen Deeble. Former Chief Executive Officer

Arnold W. Donald- President and Chief Executive Officer

Jeffrey J. Gearhart- Former Executive Vice President and Global Governance

Katie Lahey -Former Chair Korn Ferry Australasia

d.Main products and services

Carnival Cruise Line offers cruises generally from three to eight days . Carnival Cruise make their revenue from tickets, on-board shore excursions, casinos, alcohol, gift shops, spas, photos, as well as travel insurance (sold through the cruise line) and other services.

e.Geographic area of operations

Carnival Cruise Line offers cruises with almost all of its ships departing from 20 convenient U.S. homeports located along the East and West Coasts, Gulf of Mexico, Puerto Rico and Hawaii. Carnival Cruise Line is the leading provider of year-round cruises in The Bahamas, the Caribbean and Mexico and also operates seasonal cruises in Canada, New England, Alaska, Hawaii, Bermuda, and Europe. In addition, Carnival Cruise Line deploys two ships in Australia.

f.Recent developments

Carnival Cruise Line could cruising again with some ships in North America later this year, while other itineraries and ships are projected to start service again later in 2021 or beyond.

A look at the expected first sailing of each Carnival ship as the cruise industry gets back into service (all information is subject to change due to the COVID-19 crisis).

These outbreaks have placed the $45 billion cruise line industry in peril, as the virus is forcing companies like Royal Caribbean and Carnival to cancel trips and adjust itineraries. The travel industry isn't the only one affectedon Monday, stocks tumbled globally after reports that coronavirus outbreaks were increasing outside China, reaching South Korea and Italy, among other countries.

PART 2, FINANCIAL OVERVIEW

A Sales and Income Record, to include sales and net income figures for 2015-2019 and a graph displaying the trends.

a. Sales and Income Record:

------------- Fiscal Years -------------

20152016201720182019

Sales15.71B$16.39B$17.51B$18.88B$20.82B

Percent change in4.30%6.84%7.83%10.30%

sales each year

Net Income$1.76B$2.78B $2.61B$3.15B$2.99B

Percent change in

net income each year58.17%6.23% 20.95%5.14%

Comments: Sales between 2015 and 2019 steadily increased while net income dropped in 2016 and 2019. The company has increased sales over the five years, but made very little improvement on net income in 2019. Overall the company seems to be showing signs of prosperity and continuous growth.

A list of the company's major expenses for FY 2019 and a pie chart showing the Expense Distribution.

b.Expense Distribution:

FY 2019

Major Expenses:

Commissions, transportation and other

2720

Onboard and other

2101

Payroll and related

2249

Interest and other, net

483

Fuel and Food

2645

Depreciation, Amortization

2,160

Selling and Administrative

2,480

Other ship operating

2925

Comments: The Company's expense distribution for 2019 indicates that other ship operating expenses are the largest expense, however selling and administrativeonboard and other, payroll, commissions and transportation and depreciation/amortization are similar in amount.Interest expenses is relatively small which tells me that they do not have a large sum of outstanding debt. The expenses are proportional and no significant anomalies.

A list of the company's major assets for FY 2019 and a pie chart showing the Assets Distribution.

c. Assets Distribution:

Year-end FY 2019

Assets:

Cash

518

Accounts receivable

444

Inventory

427

Property and Equipment

38131

Prepaid and other

2628

Goodwill

2912

Comments: Most of the assets are property and equipment which is very common in a capital intensive business.The company maintains relatively low inventory and cash on hand. The Company holds significant inventory on hand and has a lot invested into equipment.

A list of the company's major capital accounts for FY 2019 and a pie chart showing the Capital Structure.

c.Capital Structure:

Year-end FY 2019

Capital Structure:

Accounts Payable

756

Other current liabilities

8,371

Long Term Debt

10,565

Shareholders Equity

25,365

Comments: The capital structure shows that current liabilities seem high when compared to current assets in the asset chart. The company has a lot of outstanding debt with accounts payable and long term debt while maintaining a very high common equity. Carnival may have difficulty in meeting their short term liabilities.

PART 3, RATIO ANALYSIS:Use the most recent 2 years

Carnival Cruise Lines and Royal Caribbean

(1) LIQUIDITY:

FY 2018FY 2019

Current Ratio:

Carnival._0.240.23_

Royal C_0.170.15_

Quick Ratio:

Carnival.0.19_0.18_

Royal C0.15_0.13_

Comments On The Company's Liquidity: There is very little change between the two years for Royal Caribbean and Carnival Cruise Lines which limits the analysis that can be done with this information. In regards to the quick ratio for the companies, Carnival Cruise linesseems to have a greater ability to pay off its current debt using its quick assets than Royal Caribbean.

(2) ASSET MANAGEMENT

FY 2018FY 2019

Total Asset Turnover:

Carnival.0.45_0.46

Royal C0.34_0.36_

Average Collection Period:

Carnival. 6.9 7.8

Royal C 0.000.00

Comments On The Company's Asset Management: Both companies are doing well at getting revenue out of their assets. Carnival Cruise Lines has a slight advantage over Royal Caribbean in this area for both years. CCL also saw an increase in their TA turnover from one year to the next. The ACP for CCL remained constant while RCL saw a decrease. This could be due to the company restricting the granting of credit to customers or possibly reducing payment terms.

(3) DEBT MANAGEMENT:

FY 2018FY 2019

Total Debt to Total Assets:

Carnival.42.4%_43.7%

Royal C59.9%_59.9%_

Times Interest Earned:

Chosen Co.17.149.9

Competitor5.8___3.3

Comments On The Company's Debt Management: Royal Caribbean leveraged a greater percentage than Carnival Cruise Lines. This as a greater financial risk since more of the company's assets are financed by debt than equity. Both companies saw a decrease in interest rates.

(4) PROFITABILITY:

FY 2018FY 2019

Net profit Margin:

Carnival.16.7%14.4%

Royal C19.1%17.2%

Return on Assets:

Carnival.7.4%6.6%

Royal C6.5%6.2%

Return on Equity:

Carnival.12.9%11.8%

Royal C16.3%15.4%

Modified Du Pont Equation, FY 2019:

Carnival.Royal C

Net Profit Margin14.4%17.2%

Total Asset Turnover0.460.36

Equity Multiplier1.782.49_

Comments On The Company's Profitability: In regards to net profit margin, Royal Caribbean leads Carnival Cruise Lines. Royal Caribbean also has a higher ROA and ROE. This could be an indication that Royal Caribbean is using investors' money efficiently and that the management could be slightly more effective overall.

(5) MARKET VALUE RATIOS:

FY 2018FY 2019

PE Ratio:

Carnival.27.018.9

Royal C11.113.99

Market to Book Ratio:

Carnival.1.631.20

Royal C1.77_2.26

Comments On The Company's Market Value Ratios: Carnival Cruise Lines saw a decrease in PE from one year to the next which could be concerning to investors. Royal Caribbean has shown a higher PE which is really good for investors.

PART 4, CONCLUSIONS AND RECOMMENDATIONS

Summarize your analysis.Review your comments in the financial analysis section and provide your assessment of the overall status of the firm.Include any recommendations you think are appropriate.

List any other recommendations you have for the firm in view of your analysis.