Carnival (CCL) Financials

$26.40 -0.60 (-2.24%)

Closing price 05/8/2026 03:59 PM Eastern

Extended Trading

$26.48 +0.08 (+0.31%)

As of 05/8/2026 07:59 PM Eastern

Annual Income Statements for Carnival

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1,757	-6,354	2,606	3,152	2,990	-10,236	-9,501	-6,093	-76	1,916	2,760
Consolidated Net Income / (Loss)	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916	2,760
Net Income / (Loss) Continuing Operations	1,757	-6,354	2,606	3,153	2,989	-10,236	-9,501	-6,094	-76	1,916	2,760
Total Pre-Tax Income	1,799	2,828	2,666	3,207	3,060	-10,253	-9,522	-6,080	-62	1,915	2,772
Total Operating Income	2,574	3,071	2,809	3,325	3,276	-8,865	-7,089	-4,379	1,956	3,574	4,483
Total Gross Profit	6,267	9,151	9,116	7,807	19,263	-683	500	5,990	7,276	9,383	10,675
Total Revenue	15,714	16,389	17,510	18,881	20,825	5,595	1,908	12,168	21,593	25,021	26,622
Operating Revenue	15,488	16,389	17,510	18,881	20,825	5,595	1,908	12,168	21,593	25,021	26,622
Total Cost of Revenue	9,447	7,238	8,394	11,074	1,562	8,245	1,408	6,178	14,317	15,638	15,947
Operating Cost of Revenue	9,447	7,238	8,394	11,074	1,562	6,278	1,408	6,178	14,317	15,639	15,947
Total Operating Expenses	3,693	15,311	6,307	4,483	15,986	8,182	7,590	10,369	5,320	5,809	6,192
Selling, General & Admin Expense	2,067	2,197	2,265	2,450	2,480	1,878	1,885	2,515	2,950	3,252	3,402
Depreciation Expense	1,626	1,738	1,846	2,017	2,160	2,241	2,233	2,275	2,370	2,557	2,790
Total Other Income / (Expense), net	-775	-243	-143	-118	-215	-1,388	-2,432	-1,701	-2,019	-1,658	-1,711
Interest Expense	217	223	198	194	206	1,354	2,271	1,610	2,177	1,834	1,758
Interest & Investment Income	8.00	6.00	9.00	14	23	18	12	74	233	93	51
Other Income / (Expense), net	-566	-26	46	62	-32	-52	-173	-165	-75	83	-4.00
Income Tax Expense	42	-49	60	54	71	-17	-21	14	13	-1.00	12
Basic Earnings per Share	$2.26	$3.73	$3.61	$4.45	$4.34	($13.20)	($8.46)	($5.16)	($0.06)	$1.50	$2.10
Weighted Average Basic Shares Outstanding	777.40M	745M	721.90M	718.60M	710.17M	932.67B	2.16B	-	2.43B	1.35B	1.43B
Diluted Earnings per Share	$2.26	$3.72	$3.59	$4.44	$4.32	($13.20)	($8.46)	($5.16)	($0.06)	$1.44	$2.02
Weighted Average Diluted Shares Outstanding	777.40M	745M	721.90M	718.60M	710.17M	932.67B	2.16B	-	2.43B	1.35B	1.43B
Weighted Average Basic & Diluted Shares Outstanding	777.40M	745M	721.90M	718.60M	710.17M	932.67B	2.16B	-	2.43B	1.35B	1.43B

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Income / (Loss) Attributable to Common Shareholders	1,074	-50	-214	91	1,735	305	-78	565	1,852	421	258
Consolidated Net Income / (Loss)	1,074	-48	-214	92	1,735	303	-75	565	1,852	421	263
Net Income / (Loss) Continuing Operations	1,074	-50	-214	91	1,735	305	-74	565	1,851	422	263
Total Pre-Tax Income	1,065	-39	-214	96	1,743	290	-68	582	1,857	404	280
Total Operating Income	1,624	384	276	560	2,178	560	543	934	2,271	735	607
Total Gross Profit	4,447	4,578	3,186	1,983	3,593	5,246	5,345	2,442	3,768	923	5,768
Total Revenue	6,854	5,396	5,406	5,781	7,896	5,938	5,810	6,328	8,153	6,331	6,165
Operating Revenue	6,854	5,396	5,406	5,781	7,896	5,938	5,810	6,328	8,153	6,331	6,165
Total Cost of Revenue	2,407	818	2,220	3,798	4,303	692	465	3,886	4,385	5,408	397
Operating Cost of Revenue	2,407	819	2,220	3,797	4,302	1,554	465	3,886	4,385	5,408	397
Total Operating Expenses	2,822	4,194	2,911	1,423	1,414	4,689	4,803	1,508	1,496	188	5,162
Selling, General & Admin Expense	713	789	813	789	763	887	848	816	779	959	924
Depreciation Expense	596	595	613	634	651	659	654	692	717	727	696
Other Operating Expenses / (Income)	1,513	-	1,485	-	-	-	3,301	-	-	-	3,542
Total Other Income / (Expense), net	-559	-425	-489	-464	-435	-269	-610	-353	-415	-329	-326
Interest Expense	599	466	504	483	444	403	629	345	428	356	291
Interest & Investment Income	59	49	33	25	19	16	7.00	12	15	17	12
Other Income / (Expense), net	-19	-9.00	-18	-7.00	-10	118	12	-20	-2.00	10	-47
Income Tax Expense	-9.00	10	0.00	5.00	8.00	-14	7.00	17	6.00	-18	17
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	4.00	-	-	-	4.00
Basic Earnings per Share	$0.85	($0.04)	($0.17)	$0.07	$1.37	$0.23	($0.06)	$0.43	$1.41	$0.32	$0.19
Weighted Average Basic Shares Outstanding	-	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B	1.36B	1.36B	1.43B	1.43B
Diluted Earnings per Share	$0.79	$0.02	($0.17)	$0.07	$1.26	$0.28	($0.06)	$0.42	$1.33	$0.33	$0.19
Weighted Average Diluted Shares Outstanding	-	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B	1.36B	1.36B	1.43B	1.43B
Weighted Average Basic & Diluted Shares Outstanding	-	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B	1.36B	1.36B	1.43B	1.43B
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	-	$0.15

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Net Change in Cash & Equivalents	1,064	-792	-252	575	-457	9,161	-715	-2,940	-3,601	-1,204	727
Net Cash From Operating Activities	4,545	5,134	5,322	5,549	5,475	-6,301	-4,109	-1,670	4,281	5,923	6,218
Net Cash From Continuing Operating Activities	4,545	5,134	5,322	5,549	5,478	-6,299	-4,090	-1,661	4,368	5,917	6,239
Net Income / (Loss) Continuing Operations	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916	2,760
Consolidated Net Income / (Loss)	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916	2,760
Depreciation Expense	1,626	1,738	1,846	2,017	2,160	2,241	2,233	2,275	2,370	2,557	2,790
Amortization Expense	-	-	-	-	22	119	172	171	161	141	116
Non-Cash Adjustments To Reconcile Net Income	663	173	832	16	94	4,763	1,892	758	296	280	660
Changes in Operating Assets and Liabilities, net	499	444	38	364	212	-3,186	1,114	1,228	1,615	1,023	-87
Net Cash From Investing Activities	-2,478	-3,323	-3,122	-3,514	-5,277	-3,240	-3,543	-4,767	-2,810	-4,535	-3,321
Net Cash From Continuing Investing Activities	-2,478	-3,323	-3,122	-3,514	-5,277	-3,240	-3,543	-4,767	-2,810	-4,534	-3,321
Purchase of Property, Plant & Equipment	-2,294	-3,062	-2,944	-3,749	-5,429	-3,620	-3,607	-4,940	-3,284	-4,626	-3,611
Sale of Property, Plant & Equipment	-	26	0.00	389	26	334	351	70	340	58	323
Other Investing Activities, net	35	4.00	25	-19	126	127	3.00	-97	134	34	-33
Net Cash From Financing Activities	-942	-2,591	-2,452	-1,460	-655	18,650	6,949	3,577	-5,089	-2,584	-2,189
Net Cash From Continuing Financing Activities	-942	-2,591	-2,452	-1,459	-654	18,649	6,949	3,577	-5,089	-2,584	-2,188
Repayment of Debt	-1,898	-856	-1,280	-1,598	-2,342	1,081	-7,120	-4,820	-8,050	-5,679	-13,340
Issuance of Debt	2,041	1,542	467	2,959	3,674	15,020	13,042	7,209	2,961	3,095	11,152
Other Net Changes in Cash	-	-	-	-	-	53	-13	-79	17	-8.00	19

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Change in Cash & Equivalents	-1,636	-452	-162	-605	-126	-311	-376	3,483	-2,547	167	-501
Net Cash From Operating Activities	1,834	922	1,768	2,039	1,205	911	925	2,392	1,383	1,518	1,263
Net Cash From Continuing Operating Activities	1,835	920	1,766	2,039	1,212	945	918	4,590	-767	1,497	1,249
Net Income / (Loss) Continuing Operations	1,074	-48	-214	91	1,736	303	-75	564	1,852	422	263
Consolidated Net Income / (Loss)	1,074	-48	-214	91	1,736	303	-75	564	1,852	422	263
Depreciation Expense	595	596	613	634	651	659	654	692	718	726	696
Amortization Expense	41	35	36	36	35	34	30	30	28	28	27
Non-Cash Adjustments To Reconcile Net Income	71	10	81	86	59	45	304	3,785	-3,549	118	70
Changes in Operating Assets and Liabilities, net	54	327	1,250	1,192	-1,269	-96	5.00	-481	184	203	193
Net Cash From Investing Activities	-813	-488	-2,163	-1,221	-577	-574	-605	-586	-624	-1,506	-597
Net Cash From Continuing Investing Activities	-812	-489	-2,163	-1,222	-576	-573	-605	-575	-846	-1,284	-597
Purchase of Property, Plant & Equipment	-837	-675	-2,138	-1,319	-577	-592	-607	-851	-647	-1,506	-566
Sale of Property, Plant & Equipment	-	-	-	-	-	-	11	-	-	-	3.00
Other Investing Activities, net	20	106	-25	97	-15	-23	-9.00	-36	113	-101	-34
Net Cash From Financing Activities	-2,677	-860	237	-1,420	-770	-631	-690	-521	-1,144	166	-1,166
Net Cash From Continuing Financing Activities	-2,677	-860	237	-1,420	-770	-631	-690	-520	-1,145	167	-1,166
Repayment of Debt	-4,622	-860	-1,498	-2,733	-770	-678	-3,670	-1,622	-5,681	-2,367	-958
Payment of Dividends	-	-	-	-	-	-	0.00	-	-	-	-208
Issuance of Debt	1,945	-	1,735	1,313	-	47	2,980	1,102	4,536	2,534	0.00
Other Net Changes in Cash	19	-	-3.00	-3.00	16	-18	-6.00	-	-	-11	-2.00

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Total Assets	39,237	38,881	40,778	42,401	45,058	53,593	53,344	51,703	49,120	49,057	51,687
Total Current Assets	2,451	1,689	1,596	2,225	2,059	10,563	10,133	7,492	5,266	3,378	4,219
Cash & Equivalents	1,395	603	395	982	518	9,513	8,939	4,029	2,415	1,210	1,928
Accounts Receivable	303	298	312	358	444	273	246	395	556	590	678
Inventories, net	330	322	387	450	427	335	356	428	528	507	505
Other Current Assets	423	466	502	436	671	443	379	652	1,767	1,070	1,108
Plant, Property, & Equipment, net	31,818	32,429	34,430	35,336	38,131	38,073	38,107	38,687	40,116	41,795	43,494
Total Noncurrent Assets	4,968	4,763	4,752	4,839	4,869	4,957	5,104	5,524	3,738	3,885	3,974
Goodwill	3,010	2,910	2,967	2,925	2,912	807	579	579	579	579	579
Intangible Assets	1,308	1,275	1,200	1,176	1,174	1,186	1,181	1,156	1,169	1,163	1,177
Other Noncurrent Operating Assets	650	578	585	738	783	2,964	3,344	3,789	1,990	2,143	2,218
Total Liabilities & Shareholders' Equity	39,237	38,881	40,778	42,401	45,058	53,593	53,344	51,703	49,120	49,057	51,687
Total Liabilities	15,466	16,284	16,562	17,957	19,692	33,038	41,199	44,638	42,239	39,804	39,404
Total Current Liabilities	6,956	7,072	8,800	9,204	9,127	8,686	10,408	10,605	11,481	11,617	13,092
Short-Term Debt	1,374	1,097	2,202	2,426	1,827	4,826	4,717	2,593	2,089	1,538	2,603
Accounts Payable	627	713	762	730	756	624	797	1,050	1,168	1,133	1,245
Accrued Expenses	1,683	1,740	1,877	1,654	1,809	1,144	1,641	1,942	2,003	2,358	2,239
Customer Deposits	3,272	3,522	3,958	4,395	4,735	1,940	3,112	4,874	6,072	6,425	6,831
Other Current Liabilities	-	-	-	-	0.00	151	142	146	149	163	175
Total Noncurrent Liabilities	8,510	9,212	7,762	8,753	10,565	24,352	30,791	34,033	30,758	28,187	26,312
Long-Term Debt	7,413	8,302	6,993	7,897	9,675	22,130	28,509	31,953	28,483	25,936	24,037
Other Noncurrent Operating Liabilities	1,097	910	769	856	890	2,222	2,282	2,080	2,275	2,251	2,275
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	23,771	22,597	24,216	24,443	25,365	20,555	12,144	7,065	6,882	9,251	12,284
Total Preferred & Common Equity	23,771	22,597	24,216	24,443	25,365	20,555	12,144	7,065	6,882	9,251	12,270
Total Common Equity	23,771	22,597	24,216	24,443	25,365	20,555	12,145	7,064	6,882	9,251	12,270
Common Stock	8,927	8,997	9,055	9,121	9,172	14,320	15,664	17,245	17,085	17,529	17,627
Retained Earnings	20,060	21,843	23,292	25,066	26,653	16,075	6,448	269	185	2,101	4,817
Treasury Stock	-3,475	-5,789	-6,349	-7,795	-8,394	-8,404	-8,466	-8,468	-8,449	-8,404	-8,364
Accumulated Other Comprehensive Income / (Loss)	-1,741	-2,454	-1,782	-1,949	-2,066	-1,436	-1,501	-1,982	-1,939	-1,975	-1,810
Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-	14

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	5/31/2023	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	2/28/2026
Total Assets	51,873	49,756	49,120	49,761	49,603	49,805	49,057	48,535	51,165	50,831	51,567
Total Current Assets	6,206	4,683	5,266	4,484	3,768	3,626	3,378	2,977	4,349	3,868	3,716
Cash & Equivalents	4,468	2,842	2,415	2,242	1,646	1,522	1,210	833	2,146	1,763	1,424
Accounts Receivable	449	485	556	644	494	632	590	543	569	651	663
Inventories, net	438	483	528	531	509	492	507	518	476	475	510
Other Current Assets	833	855	1,767	1,067	1,118	980	1,070	1,083	1,158	979	1,120
Plant, Property, & Equipment, net	39,584	39,952	40,116	41,515	42,105	42,380	41,795	41,654	42,751	42,889	43,700
Total Noncurrent Assets	6,082	5,122	3,738	3,762	3,730	3,800	3,885	3,904	4,065	4,074	4,150
Goodwill	579	579	579	579	579	579	579	579	579	579	579
Intangible Assets	1,163	1,168	1,169	1,168	1,167	1,173	1,163	1,162	1,178	1,181	1,181
Other Noncurrent Operating Assets	4,340	3,375	1,990	2,015	1,984	2,048	2,143	2,163	2,308	2,314	2,390
Total Liabilities & Shareholders' Equity	51,873	49,756	49,120	49,761	49,603	49,805	49,057	48,535	51,165	50,831	51,567
Total Liabilities	46,008	42,795	42,239	43,079	42,788	41,207	39,804	39,352	41,158	38,903	38,518
Total Current Liabilities	11,835	11,008	11,481	12,396	13,385	12,265	11,617	11,578	12,920	11,436	12,420
Short-Term Debt	1,789	1,780	2,089	2,195	2,181	2,214	1,538	1,531	1,392	1,417	1,502
Accounts Payable	1,042	1,103	1,168	1,103	1,063	1,062	1,133	1,091	1,198	1,173	1,242
Accrued Expenses	1,951	2,017	2,003	2,318	2,114	2,393	2,358	1,939	2,072	1,977	2,034
Customer Deposits	6,892	5,955	6,072	6,642	7,883	6,436	6,425	6,853	8,082	6,691	7,472
Other Current Liabilities	161	153	149	138	144	159	163	164	177	178	171
Total Noncurrent Liabilities	34,173	31,787	30,758	30,683	29,403	28,942	28,187	27,774	28,238	27,467	26,098
Long-Term Debt	31,921	29,516	28,483	28,544	27,154	26,642	25,936	25,487	25,862	25,064	23,788
Other Noncurrent Operating Liabilities	2,252	2,271	2,275	2,139	2,249	2,300	2,251	2,287	2,376	2,403	2,310
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,865	6,960	6,882	6,682	6,814	8,597	9,251	9,182	10,007	11,928	13,049
Total Preferred & Common Equity	5,865	6,960	6,882	6,682	6,814	8,597	9,251	9,182	10,007	11,928	13,031
Total Common Equity	5,864	6,960	6,882	6,682	6,814	8,597	9,251	9,183	10,008	11,928	13,031
Common Stock	17,057	17,072	17,085	17,053	17,075	17,097	17,529	17,554	17,582	17,612	18,246
Retained Earnings	-841	233	185	-29	62	1,798	2,101	1,991	2,543	4,395	4,733
Treasury Stock	-8,449	-8,449	-8,449	-8,404	-8,404	-8,404	-8,404	-8,376	-8,364	-8,364	-8,210
Accumulated Other Comprehensive Income / (Loss)	-1,903	-1,896	-1,939	-1,938	-1,919	-1,894	-1,975	-1,986	-1,753	-1,715	-1,738
Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-	18

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.07%	4.30%	6.84%	7.83%	10.30%	-73.13%	-65.90%	537.74%	77.46%	15.88%	6.40%
EBITDA Growth	15.66%	31.62%	-1.71%	14.95%	0.41%	-220.84%	25.93%	56.80%	310.30%	44.04%	16.21%
EBIT Growth	33.42%	51.64%	-6.24%	18.63%	-4.22%	-374.88%	18.56%	37.43%	141.40%	94.42%	22.48%
NOPAT Growth	42.92%	24.28%	-12.11%	19.06%	-2.11%	-293.92%	20.03%	38.23%	144.67%	161.16%	24.83%
Net Income Growth	44.49%	58.17%	-6.23%	20.95%	-5.14%	-442.34%	7.18%	35.87%	98.79%	2,689.19%	44.05%
EPS Growth	44.87%	64.60%	-3.49%	23.68%	-2.70%	-405.56%	35.91%	39.01%	98.84%	2,500.00%	40.28%
Operating Cash Flow Growth	32.51%	12.96%	3.66%	4.27%	-1.33%	-215.09%	34.79%	59.36%	356.35%	38.36%	4.98%
Free Cash Flow Firm Growth	75.85%	-32.88%	-61.24%	123.04%	-74.74%	-1,342.67%	59.34%	23.96%	179.28%	60.86%	-3.56%
Invested Capital Growth	-5.45%	0.74%	5.17%	2.32%	7.60%	4.53%	-4.66%	-1.76%	-1.56%	1.37%	4.16%
Revenue Q/Q Growth	-0.06%	1.40%	50.02%	-21.98%	1.59%	-45.90%	190.41%	0.00%	0.00%	2.21%	1.50%
EBITDA Q/Q Growth	10.79%	8.19%	222.93%	-61.32%	-0.06%	-44.71%	-7.03%	0.00%	0.00%	6.09%	1.76%
EBIT Q/Q Growth	20.53%	12.86%	150.74%	-71.74%	-2.14%	-31.48%	-4.73%	0.00%	0.00%	9.03%	1.52%
NOPAT Q/Q Growth	11.59%	6.66%	147.60%	-71.94%	-2.09%	-31.57%	-3.66%	0.00%	0.00%	6.78%	4.24%
Net Income Q/Q Growth	26.95%	13.85%	144.37%	-73.17%	-2.29%	-34.86%	-4.36%	0.00%	0.00%	22.43%	4.47%
EPS Q/Q Growth	27.68%	14.11%	-1.37%	-1.11%	-2.26%	-28.28%	-0.36%	0.00%	0.00%	22.03%	2.54%
Operating Cash Flow Q/Q Growth	8.11%	0.90%	0.00%	1.63%	-0.94%	-75.61%	23.81%	0.00%	0.00%	-0.19%	10.82%
Free Cash Flow Firm Q/Q Growth	-87.97%	-1.19%	119.45%	111.33%	-70.39%	-29.26%	53.37%	0.00%	0.00%	0.00%	-16.34%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.12%	4.23%	4.87%	-5.40%	0.00%	0.00%	-1.16%	0.95%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.88%	55.84%	52.06%	41.35%	92.50%	85.29%	26.21%	49.23%	60.55%	62.54%	40.10%
EBITDA Margin	23.13%	29.18%	26.85%	28.62%	26.06%	-117.19%	-254.56%	-17.24%	20.43%	25.40%	27.74%
Operating Margin	16.38%	18.74%	16.04%	17.61%	15.73%	-158.45%	-371.54%	-35.99%	9.06%	14.28%	16.84%
EBIT Margin	12.78%	18.58%	16.31%	17.94%	15.58%	-159.37%	-380.61%	-37.34%	8.71%	14.62%	16.82%
Profit (Net Income) Margin	11.18%	16.96%	14.88%	16.69%	14.36%	-182.95%	-497.96%	-50.07%	-0.34%	7.66%	10.37%
Tax Burden Percent	97.67%	98.27%	97.75%	98.29%	97.71%	99.83%	99.78%	100.21%	119.35%	100.05%	99.57%
Interest Burden Percent	89.59%	92.87%	93.38%	94.69%	94.33%	114.98%	131.12%	133.80%	-3.30%	52.37%	61.89%
Effective Tax Rate	2.33%	-1.73%	2.25%	1.68%	2.32%	0.00%	0.00%	0.00%	0.00%	-0.05%	0.43%
Return on Invested Capital (ROIC)	7.84%	9.99%	8.53%	9.79%	9.13%	-16.69%	-13.37%	-8.54%	3.88%	10.14%	12.31%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.53%	5.72%	6.94%	8.50%	7.06%	-45.04%	-35.23%	-20.04%	-1.22%	4.04%	5.63%
Return on Net Nonoperating Assets (RNNOA)	-0.52%	2.00%	2.61%	3.17%	2.88%	-27.89%	-44.74%	-54.90%	-4.94%	13.62%	13.32%
Return on Equity (ROE)	7.32%	11.99%	11.13%	12.96%	12.01%	-44.58%	-58.11%	-63.44%	-1.06%	23.75%	25.63%
Cash Return on Invested Capital (CROIC)	13.45%	9.25%	3.48%	7.49%	1.80%	-21.13%	-8.60%	-6.76%	5.45%	8.78%	8.24%
Operating Return on Assets (OROA)	5.10%	7.80%	7.17%	8.14%	7.42%	-18.08%	-13.58%	-8.65%	3.73%	7.45%	8.89%
Return on Assets (ROA)	4.47%	7.11%	6.54%	7.58%	6.84%	-20.75%	-17.77%	-11.60%	-0.15%	3.90%	5.48%
Return on Common Equity (ROCE)	7.32%	11.99%	11.13%	12.96%	12.01%	-44.58%	-58.11%	-63.44%	-1.06%	23.75%	25.63%
Return on Equity Simple (ROE_SIMPLE)	7.39%	12.30%	10.76%	12.90%	11.79%	-49.80%	-78.24%	-86.24%	-1.08%	20.71%	0.00%
Net Operating Profit after Tax (NOPAT)	2,514	3,124	2,746	3,269	3,200	-6,206	-4,962	-3,065	1,369	3,576	4,464
NOPAT Margin	16.00%	19.06%	15.68%	17.31%	15.37%	-110.91%	-260.08%	-25.19%	6.34%	14.29%	16.77%
Net Nonoperating Expense Percent (NNEP)	9.37%	4.27%	1.59%	1.29%	2.07%	28.35%	21.86%	11.51%	5.09%	6.10%	6.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-7.37%	3.66%	9.74%	11.47%
Cost of Revenue to Revenue	60.12%	44.16%	47.94%	58.65%	7.50%	14.71%	73.79%	50.77%	39.45%	37.46%	59.90%
SG&A Expenses to Revenue	13.15%	13.41%	12.94%	12.98%	11.91%	33.57%	98.79%	20.67%	13.66%	13.00%	12.78%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.50%	93.42%	36.02%	23.74%	76.76%	243.74%	397.80%	85.22%	51.49%	48.26%	23.26%
Earnings before Interest and Taxes (EBIT)	2,008	3,045	2,855	3,387	3,244	-8,917	-7,262	-4,544	1,881	3,657	4,479
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,634	4,783	4,701	5,404	5,426	-6,557	-4,857	-2,098	4,412	6,355	7,385
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.50	1.54	1.86	1.70	1.25	0.88	1.69	1.65	2.56	3.69	2.85
Price to Tangible Book Value (P/TBV)	1.84	1.89	2.25	2.04	1.49	0.97	1.98	2.18	3.44	4.54	3.32
Price to Revenue (P/Rev)	2.27	2.12	2.58	2.20	1.52	3.23	10.77	0.96	0.82	1.36	1.31
Price to Earnings (P/E)	20.32	0.00	17.32	13.17	10.62	0.00	0.00	0.00	0.00	17.81	12.67
Dividend Yield	2.49%	2.93%	2.65%	3.41%	4.49%	10.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.92%	0.00%	5.77%	7.60%	9.42%	0.00%	0.00%	0.00%	0.00%	5.62%	7.90%
Enterprise Value to Invested Capital (EV/IC)	1.38	1.39	1.63	1.50	1.18	0.93	1.23	1.13	1.31	1.70	1.61
Enterprise Value to Revenue (EV/Rev)	2.74	2.66	3.08	2.69	2.05	6.34	23.39	3.30	2.12	2.41	2.24
Enterprise Value to EBITDA (EV/EBITDA)	11.86	9.11	11.47	9.41	7.88	0.00	0.00	0.00	10.38	9.50	8.08
Enterprise Value to EBIT (EV/EBIT)	21.46	14.31	18.89	15.01	13.17	0.00	0.00	0.00	24.35	16.51	13.32
Enterprise Value to NOPAT (EV/NOPAT)	17.14	13.95	19.64	15.55	13.35	0.00	0.00	0.00	33.45	16.89	13.37
Enterprise Value to Operating Cash Flow (EV/OCF)	9.48	8.49	10.14	9.16	7.81	0.00	0.00	0.00	10.70	10.20	9.60
Enterprise Value to Free Cash Flow (EV/FCFF)	9.99	15.06	48.08	20.32	67.62	0.00	0.00	0.00	23.79	19.50	19.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.37	0.42	0.38	0.42	0.45	1.31	2.74	4.89	4.44	2.97	2.17
Long-Term Debt to Equity	0.31	0.37	0.29	0.32	0.38	1.08	2.35	4.52	4.14	2.80	1.96
Financial Leverage	0.34	0.35	0.38	0.37	0.41	0.62	1.27	2.74	4.06	3.37	2.37
Leverage Ratio	1.64	1.68	1.70	1.71	1.76	2.15	3.27	5.47	7.23	6.09	4.68
Compound Leverage Factor	1.47	1.56	1.59	1.62	1.66	2.47	4.29	7.32	-0.24	3.19	2.90
Debt to Total Capital	26.99%	29.38%	27.52%	29.69%	31.20%	56.74%	73.23%	83.02%	81.63%	74.81%	68.44%
Short-Term Debt to Total Capital	4.22%	3.43%	6.59%	6.98%	4.96%	10.16%	10.40%	6.23%	5.58%	4.19%	6.69%
Long-Term Debt to Total Capital	22.77%	25.95%	20.93%	22.71%	26.24%	46.58%	62.84%	76.79%	76.05%	70.62%	61.75%
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%	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%	0.00%
Common Equity to Total Capital	73.01%	70.62%	72.48%	70.31%	68.80%	43.26%	26.77%	16.98%	18.37%	25.19%	31.56%
Debt to EBITDA	2.42	1.97	1.96	1.91	2.12	-4.11	-6.84	-16.47	6.93	4.32	3.61
Net Debt to EBITDA	2.03	1.84	1.87	1.73	2.02	-2.66	-4.96	-13.60	6.38	4.13	3.35
Long-Term Debt to EBITDA	2.04	1.74	1.49	1.46	1.78	-3.38	-5.87	-15.23	6.46	4.08	3.25
Debt to NOPAT	3.50	3.01	3.35	3.16	3.59	-4.34	-6.70	-11.27	22.33	7.68	5.97
Net Debt to NOPAT	2.94	2.82	3.20	2.86	3.43	-2.81	-4.85	-9.31	20.56	7.34	5.54
Long-Term Debt to NOPAT	2.95	2.66	2.55	2.42	3.02	-3.57	-5.75	-10.42	20.80	7.25	5.39
Altman Z-Score	2.53	2.58	2.88	2.73	2.31	0.35	0.05	0.04	0.67	1.13	1.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.35	0.24	0.18	0.24	0.23	1.22	0.97	0.71	0.46	0.29	0.32
Quick Ratio	0.24	0.13	0.08	0.15	0.11	1.13	0.90	0.42	0.26	0.15	0.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,312	2,894	1,122	2,502	632	-7,854	-3,193	-2,428	1,925	3,097	2,987
Operating Cash Flow to CapEx	198.13%	169.10%	180.77%	165.15%	101.33%	-191.75%	-126.20%	-34.29%	145.41%	129.66%	189.11%
Free Cash Flow to Firm to Interest Expense	19.87	12.98	5.67	12.90	3.07	-5.80	-1.41	-1.51	0.88	1.69	1.70
Operating Cash Flow to Interest Expense	20.94	23.02	26.88	28.60	26.58	-4.65	-1.81	-1.04	1.97	3.23	3.54
Operating Cash Flow Less CapEx to Interest Expense	10.37	9.41	12.01	11.28	0.35	-7.08	-3.24	-4.06	0.61	0.74	1.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.42	0.44	0.45	0.48	0.11	0.04	0.23	0.43	0.51	0.53
Accounts Receivable Turnover	49.49	54.54	57.41	56.36	51.93	15.61	7.35	37.97	45.41	43.67	41.99
Inventory Turnover	27.83	22.20	23.68	26.46	3.56	2.16	4.08	15.76	17.82	18.11	31.52
Fixed Asset Turnover	0.49	0.51	0.52	0.54	0.57	0.15	0.05	0.32	0.55	0.61	0.62
Accounts Payable Turnover	15.08	10.80	11.38	14.84	2.10	1.19	1.98	6.69	7.68	8.15	13.41
Days Sales Outstanding (DSO)	7.37	6.69	6.36	6.48	7.03	23.39	49.64	9.61	8.04	8.36	8.69
Days Inventory Outstanding (DIO)	13.12	16.44	15.41	13.79	102.47	168.97	89.57	23.16	20.48	20.15	11.58
Days Payable Outstanding (DPO)	24.21	33.79	32.07	24.59	173.62	306.01	184.19	54.56	47.52	44.80	27.21
Cash Conversion Cycle (CCC)	-3.71	-10.65	-10.30	-4.32	-64.13	-113.65	-44.98	-21.79	-19.00	-16.29	-6.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	31,163	31,393	33,017	33,784	36,352	38,000	36,231	35,594	35,038	35,517	36,994
Invested Capital Turnover	0.49	0.52	0.54	0.57	0.59	0.15	0.05	0.34	0.61	0.71	0.73
Increase / (Decrease) in Invested Capital	-1,798	230	1,624	767	2,568	1,648	-1,769	-637	-556	479	1,477
Enterprise Value (EV)	43,095	43,584	53,939	50,841	42,735	35,490	44,628	40,161	45,798	60,387	59,670
Market Capitalization	35,703	34,788	45,139	41,500	31,751	18,047	20,541	11,632	17,641	34,123	34,958
Book Value per Share	$29.36	$29.97	$32.41	$33.71	$35.60	$22.76	$10.42	$6.03	$5.88	$6.89	$9.06
Tangible Book Value per Share	$24.03	$24.42	$26.84	$28.05	$29.86	$20.55	$8.91	$4.55	$4.38	$5.60	$7.76
Total Capital	32,558	31,996	33,411	34,766	36,867	47,511	45,370	41,611	37,454	36,725	38,924
Total Debt	8,787	9,399	9,195	10,323	11,502	26,956	33,226	34,546	30,572	27,474	26,640
Total Long-Term Debt	7,413	8,302	6,993	7,897	9,675	22,130	28,509	31,953	28,483	25,936	24,037
Net Debt	7,392	8,796	8,800	9,341	10,984	17,443	24,087	28,529	28,157	26,264	24,712
Capital Expenditures (CapEx)	2,294	3,036	2,944	3,360	5,403	3,286	3,256	4,870	2,944	4,568	3,288
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,526	-4,889	-5,397	-5,535	-5,759	-2,810	-4,697	-6,537	-6,541	-7,911	-8,198
Debt-free Net Working Capital (DFNWC)	-3,131	-4,286	-5,002	-4,553	-5,241	6,703	4,442	-520	-4,126	-6,701	-6,270
Net Working Capital (NWC)	-4,505	-5,383	-7,204	-6,979	-7,068	1,877	-275	-3,113	-6,215	-8,239	-8,873
Net Nonoperating Expense (NNE)	757	345	140	117	210	4,031	4,539	3,028	1,443	1,660	1,704
Net Nonoperating Obligations (NNO)	7,392	8,796	8,801	9,341	10,987	17,445	24,087	28,529	28,156	26,266	24,710
Total Depreciation and Amortization (D&A)	1,626	1,738	1,846	2,017	2,182	2,360	2,405	2,446	2,531	2,698	2,906
Debt-free, Cash-free Net Working Capital to Revenue	-28.80%	-29.83%	-30.82%	-29.32%	-27.65%	-50.22%	-246.17%	-53.72%	-30.29%	-31.62%	-30.79%
Debt-free Net Working Capital to Revenue	-19.92%	-26.15%	-28.57%	-24.11%	-25.17%	119.80%	232.81%	-4.27%	-19.11%	-26.78%	-23.55%
Net Working Capital to Revenue	-28.67%	-32.85%	-41.14%	-36.96%	-33.94%	33.55%	-14.41%	-25.58%	-28.78%	-32.93%	-33.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.26	$3.73	$3.61	$4.45	$4.34	($13.20)	($8.46)	$0.00	($0.06)	$1.50	$2.10
Adjusted Weighted Average Basic Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	2.16B	0.00	2.43B	1.35B	1.43B
Adjusted Diluted Earnings per Share	$2.26	$3.72	$3.59	$4.44	$4.32	($13.20)	($8.46)	$0.00	($0.06)	$1.44	$2.02
Adjusted Weighted Average Diluted Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	2.16B	0.00	2.43B	1.35B	1.43B
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	2.16B	0.00	2.43B	1.35B	1.43B
Normalized Net Operating Profit after Tax (NOPAT)	2,514	2,150	2,833	3,285	3,225	-3,361	-4,390	-2,757	1,369	2,502	4,464
Normalized NOPAT Margin	16.00%	13.12%	16.18%	17.40%	15.49%	-60.08%	-230.10%	-22.66%	6.34%	10.00%	16.77%
Pre Tax Income Margin	11.45%	17.26%	15.23%	16.99%	14.69%	-183.25%	-499.06%	-49.97%	-0.29%	7.65%	10.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.25	13.65	14.42	17.46	15.75	-6.59	-3.20	-2.82	0.86	1.99	2.55
NOPAT to Interest Expense	11.58	14.01	13.87	16.85	15.53	-4.58	-2.19	-1.90	0.63	1.95	2.54
EBIT Less CapEx to Interest Expense	-1.32	0.04	-0.45	0.14	-10.48	-9.01	-4.63	-5.85	-0.49	-0.50	0.68
NOPAT Less CapEx to Interest Expense	1.01	0.40	-1.00	-0.47	-10.69	-7.01	-3.62	-4.93	-0.72	-0.54	0.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.44%	35.16%	41.71%	42.99%	46.39%	-6.73%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	76.78%	119.36%	62.89%	89.56%	66.56%	-6.85%	-1.98%	-1.43%	0.00%	0.00%	0.00%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,425,193,296.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,425,193,296.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.18
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	1,638	269	193	531	2,168	587	380	907	2,264	768	570
Return On Investment Capital (ROIC_SIMPLE)	-	0.72%	-	-	-	1.60%	1.05%	2.43%	5.89%	1.97%	1.49%
Earnings before Interest and Taxes (EBIT)	1,605	375	258	553	2,168	678	551	914	2,269	745	560
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,241	1,006	907	1,223	2,854	1,371	1,235	1,636	3,015	1,499	1,283
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-34,986	-33,972	-33,766	108	191	296	1,552	-709	-976
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	35,038	35,179	34,503	35,934	35,517	35,368	35,114	36,646	36,994	36,914
Increase / (Decrease) in Invested Capital	0.00	0.00	35,179	34,503	35,934	479	189	611	712	1,477	1,546
Book Value per Share	$0.00	$5.88	$2.75	$5.20	$6.56	$6.89	$6.79	$7.39	$8.80	$9.06	$9.14
Tangible Book Value per Share	$0.00	$4.38	$2.03	$3.87	$5.22	$5.60	$5.50	$6.09	$7.50	$7.76	$7.91
Total Capital	0.00	37,454	37,421	36,149	37,453	36,725	36,200	37,261	38,409	38,924	38,339
Total Debt	0.00	30,572	30,739	29,335	28,856	27,474	27,018	27,254	26,481	26,640	25,290
Total Long-Term Debt	0.00	28,483	28,544	27,154	26,642	25,936	25,487	25,862	25,064	24,037	23,788
Net Debt	0.00	28,157	28,497	27,689	27,334	26,264	26,185	25,108	24,718	24,712	23,866
Capital Expenditures (CapEx)	837	675	2,138	1,319	577	592	607	851	647	1,506	563
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-6,541	-7,959	-9,082	-7,947	-7,911	-7,903	-9,325	-7,914	-8,198	-8,626
Debt-free Net Working Capital (DFNWC)	0.00	-4,126	-5,717	-7,436	-6,425	-6,701	-7,070	-7,179	-6,151	-6,270	-7,202
Net Working Capital (NWC)	0.00	-6,215	-7,912	-9,617	-8,639	-8,239	-8,601	-8,571	-7,568	-8,873	-8,704
Net Nonoperating Expense (NNE)	564	317	407	439	433	284	458	342	412	347	307
Net Nonoperating Obligations (NNO)	0.00	28,156	28,497	27,689	27,337	26,266	26,186	25,107	24,718	24,710	23,865
Total Depreciation and Amortization (D&A)	636	631	649	670	686	693	684	722	746	754	723
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.04)	($0.17)	$0.07	$1.37	$0.23	($0.06)	$0.43	$1.41	$0.32	$0.19
Adjusted Weighted Average Basic Shares Outstanding	0.00	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B	1.36B	1.36B	1.43B	1.43B
Adjusted Diluted Earnings per Share	$0.00	$0.02	($0.17)	$0.07	$1.26	$0.28	($0.06)	$0.42	$1.33	$0.33	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	0.00	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B	1.36B	1.36B	1.43B	1.43B
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B	1.36B	1.36B	1.43B	1.43B
Normalized Net Operating Profit after Tax (NOPAT)	1,137	269	193	531	2,168	392	380	907	2,264	515	570
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Carnival Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Carnival's fiscal year ends in November. Their fiscal year 2025 ended on November 30, 2025.

Carnival's net income appears to be on an upward trend, with a most recent value of $2.76 billion in 2025, rising from $1.76 billion in 2015. The previous period was $1.92 billion in 2024. Check out Carnival's forecast to explore projected trends and price targets.

Carnival's total operating income in 2025 was $4.48 billion, based on the following breakdown:

Total Gross Profit: $10.68 billion
Total Operating Expenses: $6.19 billion

Over the last 10 years, Carnival's total revenue changed from $15.71 billion in 2015 to $26.62 billion in 2025, a change of 69.4%.

Carnival's total liabilities were at $39.40 billion at the end of 2025, a 1.0% decrease from 2024, and a 154.8% increase since 2015.

In the past 10 years, Carnival's cash and equivalents has ranged from $395 million in 2017 to $9.51 billion in 2020, and is currently $1.93 billion as of their latest financial filing in 2025.

Over the last 10 years, Carnival's book value per share changed from 29.36 in 2015 to 9.06 in 2025, a change of -69.1%.

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Financial statements for NYSE:CCL last updated on 3/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Carnival (CCL) Financials

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Carnival (CCL) Financials

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