The Owls boss took over at Hillsborough at the start of the season, and while he endured a sluggish start with the club, he has led them right into the play-off mix with just a handful of games to go in the Championship.
But while he admitted that it was a positive milestone, he suggested that it was more important to focus on what the team had achieved during his tenure.
"It is nice. Fifty games is sometimes over two seasons in some countries but we haven't finished yet," he told the Star.
"It is a number and nothing more than that to me.
"It is more important what we have done in these months [together]. All the team have grown up and the value of the players is better now."
Although they stand an excellent chance of going on and extending their season by finishing in the top six, it is perhaps the cup competitions which have provided the brightest moments of Carvalhal's spell in charge.
An impressive away win over Newcastle in the Capital One Cup was followed by an emphatic 3-0 thrashing of an Arsenal side that included several key players.
And with the finish line now in sight, Carvalhal - whose work has been rewarded with a contract extension (via Guardian) - will be hoping that by the time he brings up his century of games, they will be coming up against sides like the Gunners on a regular basis having secured promotion.