Carnival Co. & (CCL) Financials

$22.89 -0.50 (-2.14%)

As of 05/20/2025 03:58 PM Eastern

Annual Income Statements for Carnival Co. &

This table shows Carnival Co. &'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Net Income / (Loss) Attributable to Common Shareholders	1,916	-76	-6,093	-9,501	-10,236	2,990	3,152	2,606	-6,354	1,757
Consolidated Net Income / (Loss)	1,916	-74	-6,093	-9,501	-10,236	2,990	3,152	2,606	2,779	1,757
Net Income / (Loss) Continuing Operations	1,916	-76	-6,094	-9,501	-10,236	2,989	3,153	2,606	-6,354	1,757
Total Pre-Tax Income	1,915	-62	-6,080	-9,522	-10,253	3,060	3,207	2,666	2,828	1,799
Total Operating Income	3,574	1,956	-4,379	-7,089	-8,865	3,276	3,325	2,809	3,071	2,574
Total Gross Profit	15,647	13,075	5,990	500	4,772	19,263	7,807	9,116	9,151	6,267
Total Revenue	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389	15,714
Operating Revenue	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389	15,488
Total Cost of Revenue	9,374	8,518	6,178	1,408	823	1,562	11,074	8,394	7,238	9,447
Operating Cost of Revenue	9,374	8,518	6,178	1,408	823	1,562	11,074	8,394	7,238	9,447
Total Operating Expenses	12,074	11,119	10,369	7,590	13,637	15,986	4,483	6,307	15,311	3,693
Selling, General & Admin Expense	3,252	2,950	2,515	1,885	1,878	2,480	2,450	2,265	2,197	2,067
Depreciation Expense	2,557	2,370	2,275	2,233	2,241	2,160	2,017	1,846	1,738	1,626
Other Operating Expenses / (Income)	6,265	5,799	5,139	2,655	5,455	11,320	0.00	2,107	11,376	-
Impairment Charge	0.00	0.00	440	817	4,063	26	16	89	0.00	0.00
Total Other Income / (Expense), net	-1,658	-2,019	-1,701	-2,432	-1,388	-215	-118	-143	-243	-775
Interest Expense	1,834	2,177	1,610	2,271	1,354	206	194	198	223	217
Interest & Investment Income	93	233	74	12	18	23	14	9.00	6.00	8.00
Other Income / (Expense), net	83	-75	-165	-173	-52	-32	62	46	-26	-566
Income Tax Expense	-1.00	13	14	-21	-17	71	54	60	-49	42
Basic Earnings per Share	$1.50	($0.06)	($5.16)	($8.46)	($13.20)	$4.34	$4.45	$3.61	$3.73	$2.26
Weighted Average Basic Shares Outstanding	1.35B	2.43B	-	2.16B	932.67B	710.17M	718.60M	721.90M	745M	777.40M
Diluted Earnings per Share	$1.44	($0.06)	($5.16)	($8.46)	($13.20)	$4.32	$4.44	$3.59	$3.72	$2.26
Weighted Average Diluted Shares Outstanding	1.35B	2.43B	-	2.16B	932.67B	710.17M	718.60M	721.90M	745M	777.40M
Weighted Average Basic & Diluted Shares Outstanding	1.35B	2.43B	-	2.16B	932.67B	710.17M	718.60M	721.90M	745M	777.40M

This table shows Carnival Co. &'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023
Net Income / (Loss) Attributable to Common Shareholders	-78	305	1,735	90	-214	-50	1,074	-407	-693
Consolidated Net Income / (Loss)	-78	303	1,735	92	-214	-48	1,074	-407	-693
Net Income / (Loss) Continuing Operations	-78	305	1,735	90	-214	-50	1,074	-407	-693
Total Pre-Tax Income	-71	290	1,743	96	-214	-39	1,065	-402	-686
Total Operating Income	543	560	2,178	560	276	384	1,624	120	-172
Total Gross Profit	3,542	5,246	5,164	3,536	1,701	4,578	4,447	2,929	1,121
Total Revenue	5,810	5,938	7,896	5,781	5,406	5,396	6,854	4,911	4,432
Operating Revenue	5,810	5,938	7,896	5,781	5,406	5,396	6,854	4,911	4,432
Total Cost of Revenue	2,268	692	2,732	2,245	3,705	818	2,407	1,982	3,311
Operating Cost of Revenue	2,268	1,554	2,732	2,245	2,843	819	2,407	1,982	3,310
Total Operating Expenses	3,000	4,689	2,984	2,975	1,426	4,194	2,822	2,809	1,294
Selling, General & Admin Expense	848	887	763	789	813	789	713	736	712
Depreciation Expense	654	659	651	634	613	595	596	597	582
Other Operating Expenses / (Income)	1,498	-	1,570	1,552	-	-	1,513	1,476	-
Total Other Income / (Expense), net	-614	-269	-435	-465	-489	-425	-559	-521	-514
Interest Expense	629	403	444	483	504	466	599	573	539
Interest & Investment Income	7.00	16	19	25	33	49	59	69	56
Other Income / (Expense), net	8.00	118	-10	-7.00	-18	-9.00	-19	-17	-30
Income Tax Expense	7.00	-14	8.00	5.00	0.00	10	-9.00	5.00	7.00
Basic Earnings per Share	($0.06)	$0.23	$1.37	$0.07	($0.17)	($0.04)	$0.85	($0.32)	($0.55)
Weighted Average Basic Shares Outstanding	1.35B	1.35B	1.34B	2.43B	2.43B	2.43B	-	-	-
Diluted Earnings per Share	($0.06)	$0.28	$1.26	$0.07	($0.17)	$0.02	$0.79	($0.32)	($0.55)
Weighted Average Diluted Shares Outstanding	1.35B	1.35B	1.34B	2.43B	2.43B	2.43B	-	-	-
Weighted Average Basic & Diluted Shares Outstanding	1.35B	1.35B	1.34B	2.43B	2.43B	2.43B	-	-	-

This table details how cash moves in and out of Carnival Co. &'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Net Change in Cash & Equivalents	-1,204	-3,618	-2,940	-715	9,109	-457	575	-252	-792	1,064
Net Cash From Operating Activities	5,923	4,281	-1,670	-4,109	-6,301	5,475	5,549	5,322	5,134	4,545
Net Cash From Continuing Operating Activities	5,965	4,280	-1,661	-4,090	-6,299	5,478	5,549	5,322	5,134	4,545
Net Income / (Loss) Continuing Operations	1,916	-74	-6,093	-9,501	-10,236	2,990	3,152	2,606	2,779	1,757
Consolidated Net Income / (Loss)	1,916	-74	-6,093	-9,501	-10,236	2,990	3,152	2,606	2,779	1,757
Depreciation Expense	2,557	2,370	2,275	2,233	2,241	2,160	2,017	1,846	1,738	1,626
Amortization Expense	141	161	171	172	119	22	-	-	-	-
Non-Cash Adjustments To Reconcile Net Income	271	242	758	1,892	4,763	94	16	832	173	663
Changes in Operating Assets and Liabilities, net	1,080	1,581	1,228	1,114	-3,186	212	364	38	444	499
Net Cash From Investing Activities	-4,535	-2,810	-4,767	-3,543	-3,240	-5,277	-3,514	-3,122	-3,323	-2,478
Net Cash From Continuing Investing Activities	-4,534	-2,810	-4,767	-3,543	-3,240	-5,277	-3,514	-3,122	-3,323	-2,478
Purchase of Property, Plant & Equipment	-4,626	-3,284	-4,940	-3,607	-3,620	-5,429	-3,749	-2,944	-3,062	-2,294
Purchase of Investments	0.00	0.00	-315	-2,963	-81	0.00	-135	-203	-291	-219
Sale of Property, Plant & Equipment	58	340	70	351	334	26	389	0.00	26	-
Sale and/or Maturity of Investments	0.00	0.00	515	2,673	0.00	0.00	-	-	-	-
Other Investing Activities, net	34	134	-97	3.00	127	126	-19	25	4.00	35
Net Cash From Financing Activities	-2,584	-5,089	3,577	6,949	18,650	-655	-1,460	-2,452	-2,591	-942
Net Cash From Continuing Financing Activities	-2,584	-5,089	3,577	6,949	18,649	-654	-1,459	-2,452	-2,591	-942
Repayment of Debt	-5,679	-8,057	-4,820	-7,120	-1,771	-2,342	-1,598	-1,280	-856	-1,898
Repurchase of Common Equity	0.00	-	-87	-188	-12	-603	-1,468	-552	-2,340	-533
Issuance of Debt	3,095	2,961	7,209	13,042	17,872	3,674	2,959	467	1,542	2,041
Issuance of Common Equity	0.00	5.00	1,180	1,009	3,249	4.00	3.00	-	40	264
Other Financing Activities, net	0.00	2.00	95	206	0.00	0.00	-	-	-	-
Other Net Changes in Cash	-8.00	-	-79	-13	-	-	-	-	-	-

This table details how cash moves in and out of Carnival Co. &'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023
Net Change in Cash & Equivalents	-376	-311	-126	-605	-162	-452	-1,636	-984	-546
Net Cash From Operating Activities	925	911	1,205	2,039	1,768	922	1,834	1,137	388
Net Cash From Continuing Operating Activities	919	945	1,212	2,039	1,769	920	1,835	1,138	387
Net Income / (Loss) Continuing Operations	-78	303	1,736	91	-214	-48	1,074	-407	-693
Consolidated Net Income / (Loss)	-78	303	1,736	91	-214	-48	1,074	-407	-693
Depreciation Expense	654	659	651	634	613	596	595	597	582
Amortization Expense	30	34	35	36	36	35	41	41	44
Non-Cash Adjustments To Reconcile Net Income	306	45	59	86	81	10	71	106	55
Changes in Operating Assets and Liabilities, net	7.00	-96	-1,269	1,192	1,253	327	54	801	399
Net Cash From Investing Activities	-605	-574	-577	-1,221	-2,163	-488	-813	-465	-1,044
Net Cash From Continuing Investing Activities	-616	-573	-576	-1,222	-2,163	-489	-812	-465	-1,044
Purchase of Property, Plant & Equipment	-607	-592	-577	-1,319	-2,138	-675	-837	-697	-1,075
Other Investing Activities, net	-9.00	-23	-15	97	-25	106	20	-	8.00
Net Cash From Financing Activities	-690	-631	-770	-1,420	237	-860	-2,677	-1,663	111
Net Cash From Continuing Financing Activities	-690	-631	-770	-1,420	237	-860	-2,677	-1,662	110
Repayment of Debt	-3,670	-678	-770	-2,733	-1,498	-860	-4,622	-1,855	-720
Issuance of Debt	2,980	47	-	1,313	1,735	-	1,945	186	830
Other Net Changes in Cash	-6.00	-18	16	-3.00	-3.00	-	19	8.00	-2.00

This table presents Carnival Co. &'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Total Assets	49,057	49,120	51,703	53,344	53,593	45,058	42,401	40,778	38,881	39,237
Total Current Assets	3,378	5,266	7,492	10,133	10,563	2,059	2,225	1,596	1,689	2,451
Cash & Equivalents	1,210	2,415	4,029	8,939	9,513	518	982	395	603	1,395
Accounts Receivable	590	556	395	246	273	444	358	312	298	303
Inventories, net	507	528	428	356	335	427	450	387	322	330
Other Current Assets	1,070	1,767	652	392	443	671	436	502	466	423
Plant, Property, & Equipment, net	41,795	40,116	38,687	38,107	38,073	38,131	35,336	34,430	32,429	31,818
Total Noncurrent Assets	3,885	3,738	5,524	5,104	4,957	4,869	4,839	4,752	4,763	4,968
Goodwill	579	579	579	579	807	2,912	2,925	2,967	2,910	3,010
Intangible Assets	1,163	1,169	1,156	1,181	1,186	1,174	1,176	1,200	1,275	1,308
Other Noncurrent Operating Assets	2,143	1,990	3,789	3,344	2,964	783	738	585	578	650
Total Liabilities & Shareholders' Equity	49,057	49,120	51,703	53,344	53,593	45,058	42,401	40,778	38,881	39,237
Total Liabilities	39,804	42,239	44,638	41,199	33,038	19,692	17,957	16,562	16,284	15,466
Total Current Liabilities	11,617	11,481	10,605	10,408	8,686	9,127	9,204	8,800	7,072	6,956
Short-Term Debt	1,538	2,089	2,593	4,717	4,826	1,827	2,426	2,202	1,097	1,374
Accounts Payable	1,133	1,168	1,050	797	624	756	730	762	713	627
Accrued Expenses	2,358	2,003	1,942	1,641	1,144	1,809	1,654	1,877	1,740	1,683
Customer Deposits	6,425	6,072	4,874	3,112	1,940	4,735	4,395	3,958	3,522	3,272
Other Current Liabilities	163	149	146	142	151	0.00	-	-	-	-
Total Noncurrent Liabilities	28,187	30,758	34,033	30,791	24,352	10,565	8,753	7,762	9,212	8,510
Long-Term Debt	25,936	28,483	31,953	28,509	22,130	9,675	7,897	6,993	8,302	7,413
Other Noncurrent Operating Liabilities	2,251	2,275	2,080	2,282	2,222	890	856	769	910	1,097
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,251	6,882	7,065	12,144	20,555	25,365	24,443	24,216	22,597	23,771
Total Preferred & Common Equity	9,251	6,882	7,065	12,144	20,555	25,365	24,443	24,216	22,597	23,771
Total Common Equity	9,251	6,882	7,064	12,145	20,555	25,365	24,443	24,216	22,597	23,771
Common Stock	17,529	17,085	17,245	15,664	14,320	9,172	9,121	9,055	8,997	8,927
Retained Earnings	2,101	185	269	6,448	16,075	26,653	25,066	23,292	21,843	20,060
Treasury Stock	-8,404	-8,449	-8,468	-8,466	-8,404	-8,394	-7,795	-6,349	-5,789	-3,475
Accumulated Other Comprehensive Income / (Loss)	-1,975	-1,939	-1,982	-1,501	-1,436	-2,066	-1,949	-1,782	-2,454	-1,741

This table presents Carnival Co. &'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q4 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	11/30/2022
Total Assets	48,535	49,057	49,805	49,603	49,761	49,120	51,703
Total Current Assets	2,977	3,378	3,626	3,768	4,484	5,266	7,492
Cash & Equivalents	833	1,210	1,522	1,646	2,242	2,415	4,029
Accounts Receivable	543	590	632	494	644	556	395
Inventories, net	518	507	492	509	531	528	428
Other Current Assets	1,083	1,070	980	1,118	1,067	1,767	652
Plant, Property, & Equipment, net	41,654	41,795	42,380	42,105	41,515	40,116	38,687
Total Noncurrent Assets	3,904	3,885	3,800	3,730	3,762	3,738	5,524
Goodwill	579	579	579	579	579	579	579
Intangible Assets	1,162	1,163	1,173	1,167	1,168	1,169	1,156
Other Noncurrent Operating Assets	2,163	2,143	2,048	1,984	2,015	1,990	3,789
Total Liabilities & Shareholders' Equity	48,535	49,057	49,805	49,603	49,761	49,120	51,703
Total Liabilities	39,352	39,804	41,207	42,788	43,079	42,239	44,638
Total Current Liabilities	11,578	11,617	12,265	13,385	12,396	11,481	10,605
Short-Term Debt	1,531	1,538	2,214	2,181	2,195	2,089	2,593
Accounts Payable	1,091	1,133	1,062	1,063	1,103	1,168	1,050
Accrued Expenses	1,939	2,358	2,393	2,114	2,318	2,003	1,942
Customer Deposits	6,853	6,425	6,436	7,883	6,642	6,072	4,874
Other Current Liabilities	164	163	159	144	138	149	146
Total Noncurrent Liabilities	27,774	28,187	28,942	29,403	30,683	30,758	34,033
Long-Term Debt	25,487	25,936	26,642	27,154	28,544	28,483	31,953
Other Noncurrent Operating Liabilities	2,287	2,251	2,300	2,249	2,139	2,275	2,080
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,182	9,251	8,597	6,814	6,682	6,882	7,065
Total Preferred & Common Equity	9,182	9,251	8,597	6,814	6,682	6,882	7,065
Total Common Equity	9,183	9,251	8,597	6,814	6,682	6,882	7,064
Common Stock	17,554	17,529	17,097	17,075	17,053	17,085	17,245
Retained Earnings	1,991	2,101	1,798	62	-29	185	269
Treasury Stock	-8,376	-8,404	-8,404	-8,404	-8,404	-8,449	-8,468
Accumulated Other Comprehensive Income / (Loss)	-1,986	-1,975	-1,894	-1,919	-1,938	-1,939	-1,982

This table displays calculated financial ratios and metrics derived from Carnival Co. &'s official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.88%	77.46%	537.74%	-65.90%	-73.13%	10.30%	7.83%	6.84%	4.30%	-1.07%
EBITDA Growth	44.04%	310.30%	56.80%	25.93%	-220.84%	0.41%	14.95%	-1.71%	31.62%	15.66%
EBIT Growth	94.42%	141.40%	37.43%	18.56%	-374.88%	-4.22%	18.63%	-6.24%	51.64%	33.42%
NOPAT Growth	161.16%	144.67%	38.23%	20.03%	-293.92%	-2.11%	19.06%	-12.11%	24.28%	42.92%
Net Income Growth	2,689.19%	98.79%	35.87%	7.18%	-442.34%	-5.14%	20.95%	-6.23%	58.17%	44.49%
EPS Growth	2,500.00%	98.84%	39.01%	35.91%	-405.56%	-2.70%	23.68%	-3.49%	64.60%	44.87%
Operating Cash Flow Growth	38.36%	356.35%	59.36%	34.79%	-215.09%	-1.33%	4.27%	3.66%	12.96%	32.51%
Free Cash Flow Firm Growth	60.86%	179.28%	23.96%	59.34%	-1,342.67%	-74.74%	123.04%	-61.24%	-32.88%	75.85%
Invested Capital Growth	1.37%	-1.56%	-1.76%	-4.66%	4.53%	7.60%	2.32%	5.17%	0.74%	-5.45%
Revenue Q/Q Growth	2.21%	0.00%	0.00%	190.41%	-45.90%	1.59%	-21.98%	50.02%	1.40%	-0.06%
EBITDA Q/Q Growth	6.09%	0.00%	0.00%	-7.03%	-44.71%	-0.06%	-61.32%	222.93%	8.19%	10.79%
EBIT Q/Q Growth	9.03%	0.00%	0.00%	-4.73%	-31.48%	-2.14%	-71.74%	150.74%	12.86%	20.53%
NOPAT Q/Q Growth	6.78%	0.00%	0.00%	-3.66%	-31.57%	-2.09%	-71.94%	147.60%	6.66%	11.59%
Net Income Q/Q Growth	22.43%	0.00%	0.00%	-4.36%	-34.86%	-2.29%	-73.17%	144.37%	13.85%	26.95%
EPS Q/Q Growth	22.03%	0.00%	0.00%	-0.36%	-28.28%	-2.26%	-1.11%	-1.37%	14.11%	27.68%
Operating Cash Flow Q/Q Growth	-0.19%	0.00%	0.00%	23.81%	-75.61%	-0.94%	1.63%	0.00%	0.90%	8.11%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	53.37%	-29.26%	-70.39%	111.33%	119.45%	-1.19%	-87.97%
Invested Capital Q/Q Growth	-1.16%	0.00%	0.00%	-5.40%	4.87%	4.23%	0.12%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.54%	60.55%	49.23%	26.21%	85.29%	92.50%	41.35%	52.06%	55.84%	39.88%
EBITDA Margin	25.40%	20.43%	-17.24%	-254.56%	-117.19%	26.06%	28.62%	26.85%	29.18%	23.13%
Operating Margin	14.28%	9.06%	-35.99%	-371.54%	-158.45%	15.73%	17.61%	16.04%	18.74%	16.38%
EBIT Margin	14.62%	8.71%	-37.34%	-380.61%	-159.37%	15.58%	17.94%	16.31%	18.58%	12.78%
Profit (Net Income) Margin	7.66%	-0.34%	-50.07%	-497.96%	-182.95%	14.36%	16.69%	14.88%	16.96%	11.18%
Tax Burden Percent	100.05%	119.35%	100.21%	99.78%	99.83%	97.71%	98.29%	97.75%	98.27%	97.67%
Interest Burden Percent	52.37%	-3.30%	133.80%	131.12%	114.98%	94.33%	94.69%	93.38%	92.87%	89.59%
Effective Tax Rate	-0.05%	0.00%	0.00%	0.00%	0.00%	2.32%	1.68%	2.25%	-1.73%	2.33%
Return on Invested Capital (ROIC)	10.14%	3.88%	-8.54%	-13.37%	-16.69%	9.13%	9.79%	8.53%	9.99%	7.84%
ROIC Less NNEP Spread (ROIC-NNEP)	4.04%	-1.22%	-20.04%	-35.23%	-45.04%	7.06%	8.50%	6.94%	5.72%	-1.53%
Return on Net Nonoperating Assets (RNNOA)	13.62%	-4.94%	-54.90%	-44.74%	-27.89%	2.88%	3.17%	2.61%	2.00%	-0.52%
Return on Equity (ROE)	23.75%	-1.06%	-63.44%	-58.11%	-44.58%	12.01%	12.96%	11.13%	11.99%	7.32%
Cash Return on Invested Capital (CROIC)	8.78%	5.45%	-6.76%	-8.60%	-21.13%	1.80%	7.49%	3.48%	9.25%	13.45%
Operating Return on Assets (OROA)	7.45%	3.73%	-8.65%	-13.58%	-18.08%	7.42%	8.14%	7.17%	7.80%	5.10%
Return on Assets (ROA)	3.90%	-0.15%	-11.60%	-17.77%	-20.75%	6.84%	7.58%	6.54%	7.11%	4.47%
Return on Common Equity (ROCE)	23.75%	-1.06%	-63.44%	-58.11%	-44.58%	12.01%	12.96%	11.13%	11.99%	7.32%
Return on Equity Simple (ROE_SIMPLE)	20.71%	-1.08%	-86.24%	-78.24%	-49.80%	11.79%	12.90%	10.76%	12.30%	7.39%
Net Operating Profit after Tax (NOPAT)	3,576	1,369	-3,065	-4,962	-6,206	3,200	3,269	2,746	3,124	2,514
NOPAT Margin	14.29%	6.34%	-25.19%	-260.08%	-110.91%	15.37%	17.31%	15.68%	19.06%	16.00%
Net Nonoperating Expense Percent (NNEP)	6.10%	5.09%	11.51%	21.86%	28.35%	2.07%	1.29%	1.59%	4.27%	9.37%
Return On Investment Capital (ROIC_SIMPLE)	9.74%	3.66%	-7.37%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	37.46%	39.45%	50.77%	73.79%	14.71%	7.50%	58.65%	47.94%	44.16%	60.12%
SG&A Expenses to Revenue	13.00%	13.66%	20.67%	98.79%	33.57%	11.91%	12.98%	12.94%	13.41%	13.15%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	48.26%	51.49%	85.22%	397.80%	243.74%	76.76%	23.74%	36.02%	93.42%	23.50%
Earnings before Interest and Taxes (EBIT)	3,657	1,881	-4,544	-7,262	-8,917	3,244	3,387	2,855	3,045	2,008
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,355	4,412	-2,098	-4,857	-6,557	5,426	5,404	4,701	4,783	3,634
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.69	2.56	1.65	1.69	0.88	1.25	1.70	1.86	1.54	1.50
Price to Tangible Book Value (P/TBV)	4.54	3.44	2.18	1.98	0.97	1.49	2.04	2.25	1.89	1.84
Price to Revenue (P/Rev)	1.36	0.82	0.96	10.77	3.23	1.52	2.20	2.58	2.12	2.27
Price to Earnings (P/E)	17.81	0.00	0.00	0.00	0.00	10.62	13.17	17.32	0.00	20.32
Dividend Yield	0.00%	0.00%	0.00%	0.00%	10.01%	4.49%	3.41%	2.65%	2.93%	2.49%
Earnings Yield	5.62%	0.00%	0.00%	0.00%	0.00%	9.42%	7.60%	5.77%	0.00%	4.92%
Enterprise Value to Invested Capital (EV/IC)	1.70	1.31	1.13	1.23	0.93	1.18	1.50	1.63	1.39	1.38
Enterprise Value to Revenue (EV/Rev)	2.41	2.12	3.30	23.39	6.34	2.05	2.69	3.08	2.66	2.74
Enterprise Value to EBITDA (EV/EBITDA)	9.50	10.38	0.00	0.00	0.00	7.88	9.41	11.47	9.11	11.86
Enterprise Value to EBIT (EV/EBIT)	16.51	24.35	0.00	0.00	0.00	13.17	15.01	18.89	14.31	21.46
Enterprise Value to NOPAT (EV/NOPAT)	16.89	33.45	0.00	0.00	0.00	13.35	15.55	19.64	13.95	17.14
Enterprise Value to Operating Cash Flow (EV/OCF)	10.20	10.70	0.00	0.00	0.00	7.81	9.16	10.14	8.49	9.48
Enterprise Value to Free Cash Flow (EV/FCFF)	19.50	23.79	0.00	0.00	0.00	67.62	20.32	48.08	15.06	9.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.97	4.44	4.89	2.74	1.31	0.45	0.42	0.38	0.42	0.37
Long-Term Debt to Equity	2.80	4.14	4.52	2.35	1.08	0.38	0.32	0.29	0.37	0.31
Financial Leverage	3.37	4.06	2.74	1.27	0.62	0.41	0.37	0.38	0.35	0.34
Leverage Ratio	6.09	7.23	5.47	3.27	2.15	1.76	1.71	1.70	1.68	1.64
Compound Leverage Factor	3.19	-0.24	7.32	4.29	2.47	1.66	1.62	1.59	1.56	1.47
Debt to Total Capital	74.81%	81.63%	83.02%	73.23%	56.74%	31.20%	29.69%	27.52%	29.38%	26.99%
Short-Term Debt to Total Capital	4.19%	5.58%	6.23%	10.40%	10.16%	4.96%	6.98%	6.59%	3.43%	4.22%
Long-Term Debt to Total Capital	70.62%	76.05%	76.79%	62.84%	46.58%	26.24%	22.71%	20.93%	25.95%	22.77%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	25.19%	18.37%	16.98%	26.77%	43.26%	68.80%	70.31%	72.48%	70.62%	73.01%
Debt to EBITDA	4.32	6.93	-16.47	-6.84	-4.11	2.12	1.91	1.96	1.97	2.42
Net Debt to EBITDA	4.13	6.38	-13.60	-4.96	-2.66	2.02	1.73	1.87	1.84	2.03
Long-Term Debt to EBITDA	4.08	6.46	-15.23	-5.87	-3.38	1.78	1.46	1.49	1.74	2.04
Debt to NOPAT	7.68	22.33	-11.27	-6.70	-4.34	3.59	3.16	3.35	3.01	3.50
Net Debt to NOPAT	7.34	20.56	-9.31	-4.85	-2.81	3.43	2.86	3.20	2.82	2.94
Long-Term Debt to NOPAT	7.25	20.80	-10.42	-5.75	-3.57	3.02	2.42	2.55	2.66	2.95
Altman Z-Score	1.13	0.67	0.04	0.05	0.35	2.31	2.73	2.88	2.58	2.53
Noncontrolling Interest Sharing Ratio	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.29	0.46	0.71	0.97	1.22	0.23	0.24	0.18	0.24	0.35
Quick Ratio	0.15	0.26	0.42	0.90	1.13	0.11	0.15	0.08	0.13	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,097	1,925	-2,428	-3,193	-7,854	632	2,502	1,122	2,894	4,312
Operating Cash Flow to CapEx	129.66%	145.41%	-34.29%	-126.20%	-191.75%	101.33%	165.15%	180.77%	169.10%	198.13%
Free Cash Flow to Firm to Interest Expense	1.69	0.88	-1.51	-1.41	-5.80	3.07	12.90	5.67	12.98	19.87
Operating Cash Flow to Interest Expense	3.23	1.97	-1.04	-1.81	-4.65	26.58	28.60	26.88	23.02	20.94
Operating Cash Flow Less CapEx to Interest Expense	0.74	0.61	-4.06	-3.24	-7.08	0.35	11.28	12.01	9.41	10.37
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.43	0.23	0.04	0.11	0.48	0.45	0.44	0.42	0.40
Accounts Receivable Turnover	43.67	45.41	37.97	7.35	15.61	51.93	56.36	57.41	54.54	49.49
Inventory Turnover	18.11	17.82	15.76	4.08	2.16	3.56	26.46	23.68	22.20	27.83
Fixed Asset Turnover	0.61	0.55	0.32	0.05	0.15	0.57	0.54	0.52	0.51	0.49
Accounts Payable Turnover	8.15	7.68	6.69	1.98	1.19	2.10	14.84	11.38	10.80	15.08
Days Sales Outstanding (DSO)	8.36	8.04	9.61	49.64	23.39	7.03	6.48	6.36	6.69	7.37
Days Inventory Outstanding (DIO)	20.15	20.48	23.16	89.57	168.97	102.47	13.79	15.41	16.44	13.12
Days Payable Outstanding (DPO)	44.80	47.52	54.56	184.19	306.01	173.62	24.59	32.07	33.79	24.21
Cash Conversion Cycle (CCC)	-16.29	-19.00	-21.79	-44.98	-113.65	-64.13	-4.32	-10.30	-10.65	-3.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	35,517	35,038	35,594	36,231	38,000	36,352	33,784	33,017	31,393	31,163
Invested Capital Turnover	0.71	0.61	0.34	0.05	0.15	0.59	0.57	0.54	0.52	0.49
Increase / (Decrease) in Invested Capital	479	-556	-637	-1,769	1,648	2,568	767	1,624	230	-1,798
Enterprise Value (EV)	60,387	45,798	40,161	44,628	35,490	42,735	50,841	53,939	43,584	43,095
Market Capitalization	34,123	17,641	11,632	20,541	18,047	31,751	41,500	45,139	34,788	35,703
Book Value per Share	$6.89	$5.88	$6.03	$10.42	$22.76	$35.60	$33.71	$32.41	$29.97	$29.36
Tangible Book Value per Share	$5.60	$4.38	$4.55	$8.91	$20.55	$29.86	$28.05	$26.84	$24.42	$24.03
Total Capital	36,725	37,454	41,611	45,370	47,511	36,867	34,766	33,411	31,996	32,558
Total Debt	27,474	30,572	34,546	33,226	26,956	11,502	10,323	9,195	9,399	8,787
Total Long-Term Debt	25,936	28,483	31,953	28,509	22,130	9,675	7,897	6,993	8,302	7,413
Net Debt	26,264	28,157	28,529	24,087	17,443	10,984	9,341	8,800	8,796	7,392
Capital Expenditures (CapEx)	4,568	2,944	4,870	3,256	3,286	5,403	3,360	2,944	3,036	2,294
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-7,911	-6,541	-6,537	-4,697	-2,810	-5,759	-5,535	-5,397	-4,889	-4,526
Debt-free Net Working Capital (DFNWC)	-6,701	-4,126	-520	4,442	6,703	-5,241	-4,553	-5,002	-4,286	-3,131
Net Working Capital (NWC)	-8,239	-6,215	-3,113	-275	1,877	-7,068	-6,979	-7,204	-5,383	-4,505
Net Nonoperating Expense (NNE)	1,660	1,443	3,028	4,539	4,031	210	117	140	345	757
Net Nonoperating Obligations (NNO)	26,266	28,156	28,529	24,087	17,445	10,987	9,341	8,801	8,796	7,392
Total Depreciation and Amortization (D&A)	2,698	2,531	2,446	2,405	2,360	2,182	2,017	1,846	1,738	1,626
Debt-free, Cash-free Net Working Capital to Revenue	-31.62%	-30.29%	-53.72%	-246.17%	-50.22%	-27.65%	-29.32%	-30.82%	-29.83%	-28.80%
Debt-free Net Working Capital to Revenue	-26.78%	-19.11%	-4.27%	232.81%	119.80%	-25.17%	-24.11%	-28.57%	-26.15%	-19.92%
Net Working Capital to Revenue	-32.93%	-28.78%	-25.58%	-14.41%	33.55%	-33.94%	-36.96%	-41.14%	-32.85%	-28.67%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.50	($0.06)	$0.00	($8.46)	($13.20)	$4.34	$4.45	$3.61	$3.73	$2.26
Adjusted Weighted Average Basic Shares Outstanding	1.35B	2.43B	0.00	2.16B	932.67B	710.17M	718.60M	743.52M	751.87M	794.20M
Adjusted Diluted Earnings per Share	$1.44	($0.06)	$0.00	($8.46)	($13.20)	$4.32	$4.44	$3.59	$3.72	$2.26
Adjusted Weighted Average Diluted Shares Outstanding	1.35B	2.43B	0.00	2.16B	932.67B	710.17M	718.60M	743.52M	751.87M	794.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.35B	2.43B	0.00	2.16B	932.67B	710.17M	718.60M	743.52M	751.87M	794.20M
Normalized Net Operating Profit after Tax (NOPAT)	2,502	1,369	-2,757	-4,390	-3,361	3,225	3,285	2,833	2,150	2,514
Normalized NOPAT Margin	10.00%	6.34%	-22.66%	-230.10%	-60.08%	15.49%	17.40%	16.18%	13.12%	16.00%
Pre Tax Income Margin	7.65%	-0.29%	-49.97%	-499.06%	-183.25%	14.69%	16.99%	15.23%	17.26%	11.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.99	0.86	-2.82	-3.20	-6.59	15.75	17.46	14.42	13.65	9.25
NOPAT to Interest Expense	1.95	0.63	-1.90	-2.19	-4.58	15.53	16.85	13.87	14.01	11.58
EBIT Less CapEx to Interest Expense	-0.50	-0.49	-5.85	-4.63	-9.01	-10.48	0.14	-0.45	0.04	-1.32
NOPAT Less CapEx to Interest Expense	-0.54	-0.72	-4.93	-3.62	-7.01	-10.69	-0.47	-1.00	0.40	1.01
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-6.73%	46.39%	42.99%	41.71%	35.16%	46.44%
Augmented Payout Ratio	0.00%	0.00%	-1.43%	-1.98%	-6.85%	66.56%	89.56%	62.89%	119.36%	76.78%

This table displays calculated financial ratios and metrics derived from Carnival Co. &'s official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	7.47%	10.04%	15.20%	17.72%	21.98%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	36.16%	36.28%	27.35%	65.05%	113.92%	0.00%	0.00%	0.00%	0.00%
EBIT Growth	113.57%	80.80%	35.08%	436.89%	227.72%	0.00%	0.00%	0.00%	0.00%
NOPAT Growth	96.74%	118.39%	32.38%	531.94%	260.47%	0.00%	0.00%	0.00%	0.00%
Net Income Growth	63.55%	731.25%	61.55%	122.60%	69.12%	0.00%	0.00%	0.00%	0.00%
EPS Growth	64.71%	1,300.00%	59.49%	121.88%	69.09%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-47.68%	-1.19%	-34.30%	79.33%	355.67%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Growth	100.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	0.54%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	-2.16%	-24.80%	36.59%	6.94%	0.00%	-21.27%	39.56%	10.81%	0.00%
EBITDA Q/Q Growth	-9.92%	-51.96%	133.36%	34.84%	0.00%	-55.11%	202.43%	74.76%	0.00%
EBIT Q/Q Growth	-18.73%	-68.73%	292.04%	114.34%	0.00%	-76.64%	1,458.25%	150.99%	0.00%
NOPAT Q/Q Growth	-35.25%	-72.92%	308.42%	174.76%	0.00%	-83.59%	1,849.67%	169.77%	0.00%
Net Income Q/Q Growth	-125.74%	-82.54%	1,785.87%	142.99%	0.00%	-104.47%	363.88%	41.27%	0.00%
EPS Q/Q Growth	-121.43%	-77.78%	1,700.00%	141.18%	0.00%	-97.47%	346.88%	41.82%	0.00%
Operating Cash Flow Q/Q Growth	1.54%	-24.40%	-40.90%	15.33%	0.00%	-49.73%	61.30%	193.04%	0.00%
Free Cash Flow Firm Q/Q Growth	76.89%	100.32%	0.61%	2.90%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-0.42%	-1.16%	4.15%	-1.92%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	60.96%	88.35%	65.40%	61.17%	31.47%	84.84%	64.88%	59.64%	25.29%
EBITDA Margin	21.26%	23.09%	36.14%	21.16%	16.78%	18.64%	32.70%	15.09%	9.57%
Operating Margin	9.35%	9.43%	27.58%	9.69%	5.11%	7.12%	23.69%	2.44%	-3.88%
EBIT Margin	9.48%	11.42%	27.46%	9.57%	4.77%	6.95%	23.42%	2.10%	-4.56%
Profit (Net Income) Margin	-1.34%	5.10%	21.97%	1.59%	-3.96%	-0.89%	15.67%	-8.29%	-15.64%
Tax Burden Percent	109.86%	104.48%	99.54%	95.83%	100.00%	123.08%	100.85%	101.24%	101.02%
Interest Burden Percent	-12.89%	42.77%	80.40%	17.36%	-82.95%	-10.40%	66.36%	-390.29%	339.60%
Effective Tax Rate	0.00%	-4.83%	0.46%	5.21%	0.00%	0.00%	-0.85%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.72%	7.01%	37.41%	12.47%	4.59%	3.07%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	3.04%	5.97%	34.24%	9.31%	1.73%	1.94%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	10.48%	20.13%	108.88%	37.81%	7.37%	7.96%	0.00%	0.00%	0.00%
Return on Equity (ROE)	15.19%	27.14%	146.29%	50.29%	11.95%	11.03%	0.00%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	10.32%	8.78%	0.00%	0.00%	0.00%	5.49%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	4.91%	5.82%	13.50%	4.52%	2.16%	2.98%	0.00%	0.00%	0.00%
Return on Assets (ROA)	-0.69%	2.60%	10.80%	0.75%	-1.80%	-0.38%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	15.20%	27.14%	146.29%	50.29%	11.95%	11.03%	0.00%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	22.35%	0.00%	18.20%	13.27%	6.06%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	380	587	2,168	531	193	269	1,638	84	-120
NOPAT Margin	6.54%	9.89%	27.46%	9.18%	3.57%	4.98%	23.89%	1.71%	-2.72%
Net Nonoperating Expense Percent (NNEP)	1.68%	1.04%	3.17%	3.17%	2.86%	1.13%	0.00%	0.00%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	1.05%	1.60%	-	-	-	0.72%	-	-	-
Cost of Revenue to Revenue	39.04%	11.65%	34.60%	38.83%	68.54%	15.16%	35.12%	40.36%	74.71%
SG&A Expenses to Revenue	14.60%	14.94%	9.66%	13.65%	15.04%	14.62%	10.40%	14.99%	16.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	51.64%	78.97%	37.79%	51.46%	26.38%	77.72%	41.17%	57.20%	29.20%
Earnings before Interest and Taxes (EBIT)	551	678	2,168	553	258	375	1,605	103	-202
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,235	1,371	2,854	1,223	907	1,006	2,241	741	424
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.52	3.69	2.51	2.90	2.78	2.56	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	4.35	4.54	3.16	3.90	3.76	3.44	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.27	1.36	0.88	0.84	0.82	0.82	0.00	0.00	0.00
Price to Earnings (P/E)	15.77	17.81	13.85	21.95	46.10	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.34%	5.62%	7.22%	4.56%	2.17%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.66	1.70	1.36	1.38	1.34	1.31	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	2.30	2.41	2.00	2.02	2.09	2.12	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	8.76	9.50	8.17	8.82	9.62	10.38	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	14.82	16.51	14.59	17.00	20.11	24.35	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	15.28	16.89	14.62	16.79	19.87	33.45	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.52	10.20	8.25	7.23	8.32	10.70	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	16.08	19.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	2.94	2.97	3.36	4.31	4.60	4.44	0.00	0.00	0.00
Long-Term Debt to Equity	2.78	2.80	3.10	3.99	4.27	4.14	0.00	0.00	0.00
Financial Leverage	3.45	3.37	3.18	4.06	4.26	4.09	0.00	0.00	0.00
Leverage Ratio	6.20	6.09	5.79	7.28	7.45	7.23	0.00	0.00	0.00
Compound Leverage Factor	-0.80	2.60	4.66	1.26	-6.18	-0.75	0.00	0.00	0.00
Debt to Total Capital	74.64%	74.81%	77.05%	81.15%	82.14%	81.63%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	4.23%	4.19%	5.91%	6.03%	5.87%	5.58%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	70.41%	70.62%	71.13%	75.12%	76.28%	76.05%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	25.37%	25.19%	22.95%	18.85%	17.86%	18.37%	0.00%	0.00%	0.00%
Debt to EBITDA	4.04	4.32	4.82	5.46	6.28	6.93	0.00	0.00	0.00
Net Debt to EBITDA	3.92	4.13	4.56	5.15	5.82	6.38	0.00	0.00	0.00
Long-Term Debt to EBITDA	3.81	4.08	4.45	5.05	5.83	6.46	0.00	0.00	0.00
Debt to NOPAT	7.05	7.68	8.62	10.38	12.98	22.33	0.00	0.00	0.00
Net Debt to NOPAT	6.84	7.34	8.16	9.80	12.03	20.56	0.00	0.00	0.00
Long-Term Debt to NOPAT	6.65	7.25	7.96	9.61	12.05	20.80	0.00	0.00	0.00
Altman Z-Score	0.90	0.93	0.79	0.56	0.54	0.57	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	-0.01%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.26	0.29	0.30	0.28	0.36	0.46	0.00	0.00	0.00
Quick Ratio	0.12	0.15	0.18	0.16	0.23	0.26	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	191	108	-33,766	-33,972	-34,986	0.00	0.00	0.00	0.00
Operating Cash Flow to CapEx	152.39%	153.89%	208.84%	154.59%	82.69%	136.59%	219.12%	163.13%	36.09%
Free Cash Flow to Firm to Interest Expense	0.30	0.27	-76.05	-70.34	-69.42	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	1.47	2.26	2.71	4.22	3.51	1.98	3.06	1.98	0.72
Operating Cash Flow Less CapEx to Interest Expense	0.51	0.79	1.41	1.49	-0.73	0.53	1.66	0.77	-1.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.51	0.49	0.47	0.45	0.43	0.00	0.00	0.00
Accounts Receivable Turnover	42.84	43.67	38.73	47.44	35.04	45.41	0.00	0.00	0.00
Inventory Turnover	17.96	18.11	19.31	18.03	16.78	17.82	0.00	0.00	0.00
Fixed Asset Turnover	0.61	0.61	0.58	0.56	0.54	0.55	0.00	0.00	0.00
Accounts Payable Turnover	8.59	8.15	8.95	8.63	8.08	7.68	0.00	0.00	0.00
Days Sales Outstanding (DSO)	8.52	8.36	9.42	7.69	10.42	8.04	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	20.32	20.15	18.90	20.25	21.75	20.48	0.00	0.00	0.00
Days Payable Outstanding (DPO)	42.50	44.80	40.80	42.29	45.17	47.52	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-13.66	-16.29	-12.48	-14.35	-13.01	-19.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	35,368	35,517	35,934	34,503	35,179	35,038	0.00	0.00	0.00
Invested Capital Turnover	0.72	0.71	1.36	1.36	1.28	0.62	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	189	479	35,934	34,503	35,179	0.00	0.00	0.00	0.00
Enterprise Value (EV)	58,536	60,387	48,951	47,444	47,075	45,798	0.00	0.00	0.00
Market Capitalization	32,351	34,123	21,617	19,755	18,578	17,641	18,531	13,155	12,440
Book Value per Share	$6.79	$6.89	$6.56	$5.20	$2.75	$5.88	$0.00	$0.00	$0.00
Tangible Book Value per Share	$5.50	$5.60	$5.22	$3.87	$2.03	$4.38	$0.00	$0.00	$0.00
Total Capital	36,200	36,725	37,453	36,149	37,421	37,454	0.00	0.00	0.00
Total Debt	27,018	27,474	28,856	29,335	30,739	30,572	0.00	0.00	0.00
Total Long-Term Debt	25,487	25,936	26,642	27,154	28,544	28,483	0.00	0.00	0.00
Net Debt	26,185	26,264	27,334	27,689	28,497	28,157	0.00	0.00	0.00
Capital Expenditures (CapEx)	607	592	577	1,319	2,138	675	837	697	1,075
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-7,903	-7,911	-7,947	-9,082	-7,959	-6,541	0.00	0.00	0.00
Debt-free Net Working Capital (DFNWC)	-7,070	-6,701	-6,425	-7,436	-5,717	-4,126	0.00	0.00	0.00
Net Working Capital (NWC)	-8,601	-8,239	-8,639	-9,617	-7,912	-6,215	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	458	284	433	439	407	317	564	491	573
Net Nonoperating Obligations (NNO)	26,186	26,266	27,337	27,689	28,497	28,156	0.00	0.00	0.00
Total Depreciation and Amortization (D&A)	684	693	686	670	649	631	636	638	626
Debt-free, Cash-free Net Working Capital to Revenue	-31.08%	-31.62%	-32.46%	-38.75%	-35.27%	-30.29%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	-27.81%	-26.78%	-26.25%	-31.73%	-25.33%	-19.11%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	-33.83%	-32.93%	-35.29%	-41.03%	-35.06%	-28.78%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	$0.23	$1.37	$0.07	($0.17)	($0.04)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	1.35B	1.35B	1.34B	2.43B	2.43B	2.43B	0.00	0.00	0.00
Adjusted Diluted Earnings per Share	($0.06)	$0.28	$1.26	$0.07	($0.17)	$0.02	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	1.35B	1.35B	1.34B	2.43B	2.43B	2.43B	0.00	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.35B	1.35B	1.34B	2.43B	2.43B	2.43B	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	380	392	2,168	531	193	269	1,137	84	-120
Normalized NOPAT Margin	6.54%	6.60%	27.46%	9.18%	3.57%	4.98%	16.59%	1.71%	-2.72%
Pre Tax Income Margin	-1.22%	4.88%	22.07%	1.66%	-3.96%	-0.72%	15.54%	-8.19%	-15.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.88	1.68	4.88	1.14	0.51	0.80	2.68	0.18	-0.37
NOPAT to Interest Expense	0.60	1.46	4.88	1.10	0.38	0.58	2.73	0.15	-0.22
EBIT Less CapEx to Interest Expense	-0.09	0.21	3.58	-1.59	-3.73	-0.64	1.28	-1.04	-2.37
NOPAT Less CapEx to Interest Expense	-0.36	-0.01	3.58	-1.63	-3.86	-0.87	1.34	-1.07	-2.22
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Carnival Co. &'s Financials

When does Carnival Co. &'s fiscal year end?

According to the most recent income statement we have on file, Carnival Co. &'s financial year ends in November. Their financial year 2024 ended on November 30, 2024.

How has Carnival Co. &'s net income changed over the last 9 years?

Carnival Co. &'s net income appears to be on an upward trend, with a most recent value of $1.92 billion in 2024, rising from $1.76 billion in 2015. The previous period was -$74 million in 2023. See Carnival Co. &'s forecast for analyst expectations on what’s next for the company.

What is Carnival Co. &'s operating income?

Carnival Co. &'s total operating income in 2024 was $3.57 billion, based on the following breakdown:

Total Gross Profit: $15.65 billion
Total Operating Expenses: $12.07 billion

How has Carnival Co. & revenue changed over the last 9 years?

Over the last 9 years, Carnival Co. &'s total revenue changed from $15.71 billion in 2015 to $25.02 billion in 2024, a change of 59.2%.

How much debt does Carnival Co. & have?

Carnival Co. &'s total liabilities were at $39.80 billion at the end of 2024, a 5.8% decrease from 2023, and a 157.4% increase since 2015.

How much cash does Carnival Co. & have?

In the past 9 years, Carnival Co. &'s cash and equivalents has ranged from $395 million in 2017 to $9.51 billion in 2020, and is currently $1.21 billion as of their latest financial filing in 2024.

How has Carnival Co. &'s book value per share changed over the last 9 years?

Over the last 9 years, Carnival Co. &'s book value per share changed from 29.36 in 2015 to 6.89 in 2024, a change of -76.5%.

Related Companies

This page (NYSE:CCL) was last updated on 5/21/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Carnival Co. & (CCL) Financials

Frequently Asked Questions About Carnival Co. &'s Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Carnival Co. & (CCL) Financials

Annual Income Statements for Carnival Co. &

Quarterly Income Statements for Carnival Co. &

Annual Cash Flow Statements for Carnival Co. &

Quarterly Cash Flow Statements for Carnival Co. &

Annual Balance Sheets for Carnival Co. &

Quarterly Balance Sheets for Carnival Co. &

Annual Metrics And Ratios for Carnival Co. &

Quarterly Metrics And Ratios for Carnival Co. &

Frequently Asked Questions About Carnival Co. &'s Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools