Carnival Co. & (CUK) Financials

$20.11 -0.10 (-0.49%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$20.07 -0.04 (-0.20%)

As of 05/23/2025 08:00 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	2,989	3,152	15,916	5,948	8,179
Consolidated Net Income / (Loss)	1,916	-74	-6,093	-9,501	-10,236	2,989	3,152	15,916	5,948	8,179
Net Income / (Loss) Continuing Operations	1,916	-76	-6,094	-9,501	-10,236	2,989	3,153	15,916	5,948	8,179
Total Pre-Tax Income	1,915	-62	-6,080	-9,522	-10,253	3,060	3,207	15,976	5,899	8,221
Total Operating Income	3,574	1,956	-4,379	-7,089	-8,865	3,277	3,324	16,119	0.00	8,996
Total Gross Profit	25,021	21,593	12,168	1,908	3,220	7,943	7,807	17,510	7,006	22,136
Total Revenue	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389	31,428
Operating Revenue	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389	31,202
Total Cost of Revenue	0.00	0.00	0.00	0.00	2,375	12,882	11,074	0.00	9,383	9,292
Total Operating Expenses	21,448	19,637	16,547	8,998	12,085	4,666	4,483	1,391	864	13,140
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)	15,639	14,317	11,317	4,063	3,903	-	-	-2,809	3,071	9,447
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	2.41B	-	932.67B	710.17M	3.95B	-56.20M	751.87M	794.20M
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	2.41B	-	932.67B	710.17M	3.95B	-56.20M	751.87M	794.20M
Weighted Average Basic & Diluted Shares Outstanding	1.35B	2.43B	2.41B	-	932.67B	710.17M	3.95B	-56.20M	751.87M	794.20M

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	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-78	90	-214	-50	1,074	-407	-693	-1,598	-770
Consolidated Net Income / (Loss)	-78	92	-214	-48	1,074	-407	-693	-1,598	-770
Net Income / (Loss) Continuing Operations	-78	90	-214	-50	1,074	-407	-693	-1,599	-770
Total Pre-Tax Income	-71	96	-214	-39	1,065	-402	-686	-1,602	-759
Total Operating Income	543	560	276	384	1,624	120	-172	-1,136	-279
Total Gross Profit	5,810	5,781	5,406	5,396	6,854	4,911	4,432	3,839	4,305
Total Revenue	5,810	5,781	5,406	5,396	6,854	4,911	4,432	3,839	4,305
Operating Revenue	5,810	5,781	5,406	5,396	6,854	4,911	4,432	3,839	4,305
Total Cost of Revenue	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	5,268	5,220	5,131	5,013	5,229	4,791	4,604	4,973	4,585
Selling, General & Admin Expense	848	789	813	789	713	736	712	741	625
Depreciation Expense	654	634	613	595	596	597	582	568	581
Other Operating Expenses / (Income)	3,766	3,797	3,705	3,629	3,920	3,458	3,310	3,232	3,379
Total Other Income / (Expense), net	-614	-465	-489	-426	-559	-521	-513	-467	-479
Interest Expense	629	483	504	466	599	573	539	450	422
Interest & Investment Income	7.00	25	33	49	59	69	56	41	24
Other Income / (Expense), net	8.00	-7.00	-18	-9.00	-19	-17	-30	-58	-81
Income Tax Expense	7.00	5.00	0.00	10	-9.00	5.00	7.00	-3.00	11
Basic Earnings per Share	($0.06)	$0.07	($0.17)	($0.04)	$0.85	($0.32)	($0.55)	($1.24)	($0.65)
Weighted Average Basic Shares Outstanding	1.35B	2.43B	2.43B	2.43B	2.43B	2.43B	2.42B	2.41B	2.41B
Diluted Earnings per Share	($0.06)	$0.07	($0.17)	$0.02	$0.79	($0.32)	($0.55)	($1.24)	($0.65)
Weighted Average Diluted Shares Outstanding	1.35B	2.43B	2.43B	2.43B	2.43B	2.43B	2.42B	2.41B	2.41B
Weighted Average Basic & Diluted Shares Outstanding	1.35B	2.43B	2.43B	2.43B	2.43B	2.43B	2.42B	2.41B	2.41B

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	9,161	-457	575	-241	-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	5,916	4,280	-1,661	-4,097	-6,299	5,477	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	-	-	-	-	-
Non-Cash Adjustments To Reconcile Net Income	271	242	758	1,892	4,763	115	16	471	173	663
Changes in Operating Assets and Liabilities, net	1,031	1,581	1,228	1,107	-3,186	212	364	399	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	-	-	-	-	-
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	-1,303	-1,898
Issuance of Debt	3,095	2,961	7,209	13,042	17,872	3,674	2,959	467	1,989	2,041
Issuance of Common Equity	0.00	5.00	1,180	1,009	3,249	4.00	3.00	-	40	264
Other Net Changes in Cash	-8.00	-	-79	-13	53	-	-	11	-	-

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	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Change in Cash & Equivalents	-376	-605	-162	-452	-1,636	-984	-546	-1,070	18
Net Cash From Operating Activities	925	2,039	1,768	922	1,834	1,137	388	-117	-344
Net Cash From Continuing Operating Activities	919	2,039	1,766	1,274	1,481	1,138	387	-114	-340
Net Income / (Loss) Continuing Operations	-78	91	-214	-48	1,074	-407	-693	-1,598	-769
Consolidated Net Income / (Loss)	-78	91	-214	-48	1,074	-407	-693	-1,598	-769
Depreciation Expense	654	634	613	596	595	597	582	568	581
Amortization Expense	30	36	36	-	-	41	44	40	44
Non-Cash Adjustments To Reconcile Net Income	306	86	81	199	-109	106	55	568	52
Changes in Operating Assets and Liabilities, net	7.00	1,192	1,250	366	6.00	801	399	308	-248
Net Cash From Investing Activities	-605	-1,221	-2,163	-488	-813	-465	-1,044	-1,300	-360
Net Cash From Continuing Investing Activities	-616	-1,222	-2,163	-489	-812	-465	-1,044	-1,300	-360
Purchase of Property, Plant & Equipment	-607	-1,319	-2,138	-675	-837	-697	-1,075	-1,181	-538
Other Investing Activities, net	-9.00	97	-25	-154	25	-	8.00	-189	27
Net Cash From Financing Activities	-690	-1,420	237	-860	-2,677	-1,663	111	360	754
Net Cash From Continuing Financing Activities	-690	-1,420	237	-1,236	-2,301	-1,662	110	359	756
Repayment of Debt	-3,670	-2,733	-1,498	-1,243	-4,239	-1,855	-720	-3,517	-394
Issuance of Debt	2,980	1,313	1,735	-	1,945	186	830	3,875	-
Other Net Changes in Cash	-6.00	-3.00	-3.00	-	19	8.00	-2.00	-12	-32

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	53,594	45,060	42,401	40,778	38,881	39,237
Total Current Assets	3,378	5,266	7,492	10,133	10,564	2,060	2,226	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	379	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	53,220	45,057	42,401	40,777	38,881	39,237
Total Liabilities	39,804	42,239	44,638	41,199	33,037	19,692	17,958	16,561	16,284	15,466
Total Current Liabilities	11,617	11,481	10,605	10,408	8,685	9,127	9,205	8,799	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
Current Deferred Revenue	6,425	-	-	-	-	-	-	-	-	-
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	20,183	25,365	24,443	24,216	22,597	23,771
Total Preferred & Common Equity	9,251	6,882	7,065	12,144	20,183	25,365	24,443	24,216	22,597	23,771
Total Common Equity	9,251	6,882	7,064	12,145	20,183	25,365	24,443	24,216	22,597	23,771
Common Stock	17,529	17,085	17,245	15,664	13,948	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	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	2/28/2025	5/31/2024	2/29/2024	8/31/2023	5/31/2023	2/28/2023	8/31/2022
Total Assets	48,535	49,603	49,761	49,756	51,873	51,985	51,917
Total Current Assets	2,977	3,768	4,484	4,683	6,206	7,142	8,432
Cash & Equivalents	833	1,646	2,242	2,842	4,468	5,455	7,071
Accounts Receivable	543	494	644	485	449	514	360
Inventories, net	518	509	531	483	438	448	420
Other Current Assets	1,083	1,118	1,067	855	833	710	581
Plant, Property, & Equipment, net	41,654	42,105	41,515	39,952	39,584	39,359	38,137
Total Noncurrent Assets	3,904	3,730	3,762	5,122	6,082	5,484	5,348
Goodwill	579	579	579	579	579	579	579
Intangible Assets	1,162	1,167	1,168	1,168	1,163	1,158	1,151
Other Noncurrent Operating Assets	2,163	702	2,015	3,375	4,340	3,747	3,618
Total Liabilities & Shareholders' Equity	48,535	49,603	49,761	49,756	51,873	51,985	51,917
Total Liabilities	39,352	42,788	43,079	42,795	46,008	45,816	43,537
Total Current Liabilities	11,578	13,385	12,396	11,008	11,835	11,088	12,954
Short-Term Debt	1,531	2,181	2,195	1,780	1,789	2,464	5,552
Accounts Payable	1,091	1,063	1,103	1,103	1,042	1,022	920
Accrued Expenses	1,939	2,114	2,318	2,017	1,951	1,951	1,873
Customer Deposits	6,853	7,883	6,642	5,955	6,892	5,495	4,470
Other Current Liabilities	164	144	138	153	161	156	139
Total Noncurrent Liabilities	27,774	29,403	30,683	31,787	34,173	34,728	30,583
Long-Term Debt	25,487	27,154	28,544	29,516	31,921	32,672	28,518
Other Noncurrent Operating Liabilities	2,287	1,075	2,139	2,271	2,252	2,056	2,065
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,182	6,814	6,682	6,960	5,865	6,169	8,379
Total Preferred & Common Equity	9,182	6,814	6,682	6,960	5,865	6,169	8,379
Total Common Equity	9,183	6,814	6,682	6,960	5,864	6,169	8,379
Common Stock	17,554	17,075	17,053	17,072	17,057	17,008	16,999
Retained Earnings	1,991	62	-29	233	-841	-434	1,868
Treasury Stock	-8,376	-8,404	-8,404	-8,449	-8,449	-8,433	-8,464
Accumulated Other Comprehensive Income / (Loss)	-1,986	-1,919	-1,938	-1,896	-1,903	-1,972	-2,024

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%	-47.85%	-1.07%
EBITDA Growth	44.04%	310.30%	56.80%	25.93%	-221.31%	0.04%	-70.00%	952.04%	-82.98%	14.73%
EBIT Growth	94.42%	141.40%	37.43%	18.56%	-374.79%	-4.16%	-79.05%	62,273.08%	-100.31%	18.27%
NOPAT Growth	161.16%	144.67%	38.23%	20.03%	-293.86%	-2.05%	-79.65%	0.00%	-100.00%	21.19%
Net Income Growth	2,689.19%	98.79%	35.87%	7.18%	-442.46%	-5.17%	-80.20%	167.59%	-27.28%	19.59%
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%	178.86%	23.24%	59.50%	-1,340.75%	-74.69%	-82.67%	6,375.85%	-102.14%	33.05%
Invested Capital Growth	1.37%	-1.56%	-1.72%	-4.69%	4.53%	7.60%	2.32%	5.17%	0.74%	-5.45%
Revenue Q/Q Growth	0.00%	7.77%	26.55%	190.41%	-45.90%	1.59%	26.78%	105.40%	-58.45%	-13.87%
EBITDA Q/Q Growth	0.00%	66.24%	27.61%	30.40%	-189.24%	-0.46%	-68.89%	821.02%	-90.78%	-30.55%
EBIT Q/Q Growth	0.00%	502.88%	14.73%	21.08%	-97.37%	-2.14%	-77.99%	475.84%	-100.15%	-34.47%
NOPAT Q/Q Growth	0.00%	348.62%	14.72%	23.97%	-108.39%	-2.09%	-78.51%	458.25%	-100.00%	-33.60%
Net Income Q/Q Growth	0.00%	95.44%	14.36%	18.00%	-100.39%	-2.29%	-79.19%	840.66%	-64.16%	-35.00%
EPS Q/Q Growth	0.00%	95.45%	17.44%	-0.36%	-28.28%	-2.26%	-1.11%	-1.37%	14.11%	27.68%
Operating Cash Flow Q/Q Growth	0.00%	32.05%	13.07%	23.81%	-75.61%	-0.94%	1.63%	0.00%	0.90%	8.11%
Free Cash Flow Firm Q/Q Growth	0.00%	572.68%	93.74%	-110.70%	-81.09%	-70.36%	-82.53%	362.23%	-101.36%	-30.17%
Invested Capital Q/Q Growth	0.00%	-1.02%	0.61%	0.00%	4.87%	4.23%	0.12%	0.50%	-1.38%	-1.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	57.55%	38.14%	41.35%	100.00%	42.75%	70.43%
EBITDA Margin	25.40%	20.43%	-17.24%	-254.56%	-117.19%	25.95%	28.62%	102.86%	10.45%	32.00%
Operating Margin	14.28%	9.06%	-35.99%	-371.54%	-158.45%	15.74%	17.61%	92.06%	0.00%	28.62%
EBIT Margin	14.62%	8.71%	-37.34%	-380.61%	-159.37%	15.58%	17.93%	92.32%	-0.16%	26.82%
Profit (Net Income) Margin	7.66%	-0.34%	-50.07%	-497.96%	-182.95%	14.35%	16.69%	90.90%	36.29%	26.02%
Tax Burden Percent	100.05%	119.35%	100.21%	99.78%	99.83%	97.68%	98.29%	99.62%	100.83%	99.49%
Interest Burden Percent	52.37%	-3.30%	133.80%	131.12%	114.98%	94.30%	94.71%	98.83%	-22,688.46%	97.52%
Effective Tax Rate	-0.05%	0.00%	0.00%	0.00%	0.00%	2.32%	1.68%	0.38%	-0.83%	0.51%
Return on Invested Capital (ROIC)	10.14%	3.88%	-8.54%	-13.37%	-16.69%	9.13%	9.78%	49.86%	0.00%	27.91%
ROIC Less NNEP Spread (ROIC-NNEP)	4.04%	-1.22%	-20.05%	-35.04%	-44.68%	7.04%	8.51%	48.24%	73.49%	18.37%
Return on Net Nonoperating Assets (RNNOA)	13.62%	-4.94%	-54.90%	-45.41%	-28.25%	2.87%	3.17%	18.13%	25.66%	6.18%
Return on Equity (ROE)	23.75%	-1.06%	-63.44%	-58.78%	-44.95%	12.00%	12.96%	68.00%	25.66%	34.10%
Cash Return on Invested Capital (CROIC)	8.78%	5.45%	-6.80%	-8.57%	-21.13%	1.81%	7.49%	44.82%	-0.74%	33.52%
Operating Return on Assets (OROA)	7.45%	3.73%	-8.65%	-13.58%	-18.08%	7.42%	8.14%	40.59%	-0.07%	21.43%
Return on Assets (ROA)	3.90%	-0.15%	-11.60%	-17.77%	-20.75%	6.84%	7.58%	39.96%	15.23%	20.79%
Return on Common Equity (ROCE)	23.75%	-1.06%	-63.44%	-58.78%	-44.95%	12.00%	12.96%	68.00%	25.66%	34.10%
Return on Equity Simple (ROE_SIMPLE)	20.71%	-1.08%	-86.24%	-78.24%	-50.72%	11.78%	12.90%	65.73%	26.32%	34.41%
Net Operating Profit after Tax (NOPAT)	3,576	1,369	-3,065	-4,962	-6,206	3,201	3,268	16,058	0.00	8,950
NOPAT Margin	14.29%	6.34%	-25.19%	-260.08%	-110.91%	15.37%	17.31%	91.71%	0.00%	28.48%
Net Nonoperating Expense Percent (NNEP)	6.10%	5.09%	11.51%	21.67%	27.99%	2.09%	1.28%	1.62%	-73.49%	9.55%
Return On Investment Capital (ROIC_SIMPLE)	9.74%	3.66%	-7.37%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	42.45%	61.86%	58.65%	0.00%	57.25%	29.57%
SG&A Expenses to Revenue	13.00%	13.66%	20.67%	98.79%	33.57%	11.91%	12.98%	12.94%	13.41%	6.58%
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	85.72%	90.94%	135.99%	471.59%	216.00%	22.41%	23.74%	7.94%	5.27%	41.81%
Earnings before Interest and Taxes (EBIT)	3,657	1,881	-4,544	-7,262	-8,917	3,245	3,386	16,165	-26	8,430
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,355	4,412	-2,098	-4,857	-6,557	5,405	5,403	18,011	1,712	10,056
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Price to Earnings (P/E)	0.02	0.00	0.00	0.00	0.00	0.01	0.02	0.00	0.01	0.01
Dividend Yield	0.00%	0.00%	0.00%	0.00%	11.32%	4.76%	3.47%	2.64%	2.95%	2.42%
Earnings Yield	4,389.25%	0.00%	0.00%	0.00%	0.00%	6,881.96%	5,331.49%	24,262.83%	11,910.70%	15,333.41%
Enterprise Value to Invested Capital (EV/IC)	0.74	0.80	0.80	0.67	0.46	0.30	0.28	0.27	0.28	0.24
Enterprise Value to Revenue (EV/Rev)	1.05	1.31	2.35	12.63	3.12	0.53	0.50	0.51	0.54	0.24
Enterprise Value to EBITDA (EV/EBITDA)	4.14	6.39	0.00	0.00	0.00	2.04	1.74	0.49	5.17	0.74
Enterprise Value to EBIT (EV/EBIT)	7.19	14.98	0.00	0.00	0.00	3.40	2.78	0.55	0.00	0.88
Enterprise Value to NOPAT (EV/NOPAT)	7.36	20.58	0.00	0.00	0.00	3.45	2.88	0.55	0.00	0.83
Enterprise Value to Operating Cash Flow (EV/OCF)	4.44	6.58	0.00	0.00	0.00	2.01	1.69	1.67	1.72	1.64
Enterprise Value to Free Cash Flow (EV/FCFF)	8.49	14.64	0.00	0.00	0.00	17.42	3.76	0.61	0.00	0.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.97	4.44	4.89	2.74	1.34	0.45	0.42	0.38	0.42	0.37
Long-Term Debt to Equity	2.80	4.14	4.52	2.35	1.10	0.38	0.32	0.29	0.37	0.31
Financial Leverage	3.37	4.06	2.74	1.30	0.63	0.41	0.37	0.38	0.35	0.34
Leverage Ratio	6.09	7.23	5.47	3.31	2.17	1.76	1.71	1.70	1.68	1.64
Compound Leverage Factor	3.19	-0.24	7.32	4.34	2.49	1.66	1.62	1.68	-382.24	1.60
Debt to Total Capital	74.81%	81.63%	83.02%	73.23%	57.18%	31.20%	29.69%	27.52%	29.38%	26.99%
Short-Term Debt to Total Capital	4.19%	5.58%	6.23%	10.40%	10.24%	4.96%	6.98%	6.59%	3.43%	4.22%
Long-Term Debt to Total Capital	70.62%	76.05%	76.79%	62.84%	46.95%	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%	42.82%	68.80%	70.31%	72.48%	70.62%	73.01%
Debt to EBITDA	4.32	6.93	-16.47	-6.84	-4.11	2.13	1.91	0.51	5.49	0.87
Net Debt to EBITDA	4.13	6.38	-13.60	-4.96	-2.66	2.03	1.73	0.49	5.14	0.74
Long-Term Debt to EBITDA	4.08	6.46	-15.23	-5.87	-3.38	1.79	1.46	0.39	4.85	0.74
Debt to NOPAT	7.68	22.33	-11.27	-6.70	-4.34	3.59	3.16	0.57	0.00	0.98
Net Debt to NOPAT	7.34	20.56	-9.31	-4.85	-2.81	3.43	2.86	0.55	0.00	0.83
Long-Term Debt to NOPAT	7.25	20.80	-10.42	-5.75	-3.57	3.02	2.42	0.44	0.00	0.83
Altman Z-Score	0.62	0.42	-0.12	-0.25	0.02	1.34	1.34	2.33	1.04	2.09
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	-2,441	-3,180	-7,854	633	2,501	14,434	-230	10,748
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	-1.52	-1.40	-5.80	3.07	12.89	72.90	-1.03	49.53
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	0.80
Accounts Receivable Turnover	43.67	45.41	37.97	7.35	15.61	51.93	56.36	57.41	54.54	98.99
Inventory Turnover	0.00	0.00	0.00	0.00	6.23	29.38	26.46	0.00	28.78	27.37
Fixed Asset Turnover	0.61	0.55	0.32	0.05	0.15	0.57	0.54	0.52	0.51	0.97
Accounts Payable Turnover	0.00	0.00	0.00	0.00	3.44	17.34	14.84	0.00	14.00	14.83
Days Sales Outstanding (DSO)	8.36	8.04	9.61	49.64	23.39	7.03	6.48	6.36	6.69	3.69
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	58.55	12.42	13.79	0.00	12.68	13.34
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	106.04	21.05	24.59	0.00	26.06	24.61
Cash Conversion Cycle (CCC)	8.36	8.04	9.61	49.64	-24.10	-1.60	-4.32	6.36	-6.69	-7.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	35,517	35,038	35,594	36,218	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	0.98
Increase / (Decrease) in Invested Capital	479	-556	-624	-1,782	1,648	2,568	767	1,624	230	-1,798
Enterprise Value (EV)	26,308	28,183	28,546	24,100	17,466	11,027	9,400	8,866	8,846	7,445
Market Capitalization	44	26	17	27	23	43	59	66	50	53
Book Value per Share	$7.06	$5.27	$5.44	$10.49	$22.35	$35.60	$33.71	$32.41	$29.97	$29.36
Tangible Book Value per Share	$5.73	$3.93	$4.10	$8.97	$20.14	$29.86	$28.05	$26.84	$24.42	$24.03
Total Capital	36,725	37,454	41,611	45,370	47,139	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	24,073	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	-4,711	-2,808	-5,758	-5,535	-5,396	-4,889	-4,526
Debt-free Net Working Capital (DFNWC)	-6,701	-4,126	-520	4,442	6,705	-5,240	-4,553	-5,001	-4,286	-3,131
Net Working Capital (NWC)	-8,239	-6,215	-3,113	-275	1,879	-7,067	-6,979	-7,203	-5,383	-4,505
Net Nonoperating Expense (NNE)	1,660	1,443	3,028	4,539	4,031	212	116	142	-5,948	771
Net Nonoperating Obligations (NNO)	26,266	28,156	28,529	24,074	17,817	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	2,160	2,017	1,846	1,738	1,626
Debt-free, Cash-free Net Working Capital to Revenue	-31.62%	-30.29%	-53.72%	-246.91%	-50.19%	-27.65%	-29.32%	-30.82%	-29.83%	-14.40%
Debt-free Net Working Capital to Revenue	-26.78%	-19.11%	-4.27%	232.81%	119.84%	-25.16%	-24.11%	-28.56%	-26.15%	-9.96%
Net Working Capital to Revenue	-32.93%	-28.78%	-25.58%	-14.41%	33.58%	-33.94%	-36.96%	-41.14%	-32.85%	-14.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.50	($0.06)	($5.16)	$0.00	($13.20)	$4.34	$4.45	$3.61	$3.73	$2.26
Adjusted Weighted Average Basic Shares Outstanding	1.35B	2.43B	2.41B	0.00	932.67B	710.17M	718.60M	743.52M	751.87M	794.20M
Adjusted Diluted Earnings per Share	$1.44	($0.06)	($5.16)	$0.00	($13.20)	$4.32	$4.44	$3.59	$3.72	$2.26
Adjusted Weighted Average Diluted Shares Outstanding	1.35B	2.43B	2.41B	0.00	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	$4.34	$4.45	$3.61	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.35B	2.43B	2.41B	0.00	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	3,226	3,284	16,147	0.00	8,950
Normalized NOPAT Margin	10.00%	6.34%	-22.66%	-230.10%	-60.08%	15.49%	17.39%	92.22%	0.00%	28.48%
Pre Tax Income Margin	7.65%	-0.29%	-49.97%	-499.06%	-183.25%	14.69%	16.99%	91.24%	35.99%	26.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.99	0.86	-2.82	-3.20	-6.59	15.75	17.45	81.64	-0.12	38.85
NOPAT to Interest Expense	1.95	0.63	-1.90	-2.19	-4.58	15.54	16.85	81.10	0.00	41.24
EBIT Less CapEx to Interest Expense	-0.50	-0.49	-5.85	-4.63	-9.01	-10.48	0.13	66.77	-13.73	28.28
NOPAT Less CapEx to Interest Expense	-0.54	-0.72	-4.93	-3.62	-7.01	-10.69	-0.47	66.23	-13.61	30.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-6.73%	46.40%	42.99%	6.83%	16.43%	9.98%
Augmented Payout Ratio	0.00%	0.00%	-1.43%	-1.98%	-6.85%	66.58%	89.56%	10.30%	55.77%	16.49%

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

Metric	Q1 2025	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	7.47%	17.72%	21.98%	40.56%	59.21%	104.54%	173.07%	198.52%	688.46%
EBITDA Growth	36.16%	65.05%	113.92%	265.70%	730.19%	186.77%	145.94%	57.72%	118.18%
EBIT Growth	113.57%	436.89%	227.72%	131.41%	545.83%	107.02%	86.74%	39.67%	82.59%
NOPAT Growth	96.74%	531.94%	260.47%	133.80%	938.57%	108.15%	88.46%	39.96%	86.44%
Net Income Growth	63.55%	122.60%	69.12%	97.00%	239.48%	77.81%	63.35%	39.01%	72.85%
EPS Growth	64.71%	121.88%	69.09%	101.61%	221.54%	80.12%	66.87%	46.78%	74.00%
Operating Cash Flow Growth	-47.68%	79.33%	355.67%	888.03%	633.14%	37,800.00%	132.01%	68.21%	60.86%
Free Cash Flow Firm Growth	-77.50%	-104.90%	-63.53%	581.78%	104.55%	-45.04%	672.85%	-137.41%	-202.23%
Invested Capital Growth	0.54%	1.68%	-1.83%	-1.56%	0.05%	-3.05%	-6.40%	-1.72%	0.00%
Revenue Q/Q Growth	0.00%	6.94%	0.19%	-21.27%	39.56%	10.81%	15.45%	-10.82%	79.30%
EBITDA Q/Q Growth	0.00%	34.84%	-6.59%	-55.86%	196.90%	74.76%	172.35%	-321.13%	131.03%
EBIT Q/Q Growth	0.00%	114.34%	-31.20%	-76.64%	1,458.25%	150.99%	83.08%	-231.67%	75.46%
NOPAT Q/Q Growth	0.00%	174.76%	-28.13%	-83.59%	1,849.67%	169.77%	84.86%	-307.17%	81.06%
Net Income Q/Q Growth	0.00%	142.99%	-345.83%	-104.47%	363.88%	41.27%	56.63%	-107.53%	58.02%
EPS Q/Q Growth	0.00%	141.18%	-950.00%	-97.47%	346.88%	41.82%	55.65%	-90.77%	59.63%
Operating Cash Flow Q/Q Growth	0.00%	15.33%	91.76%	-49.73%	61.30%	193.04%	431.62%	65.99%	-11,566.67%
Free Cash Flow Firm Q/Q Growth	0.00%	-106.85%	2.96%	-49.05%	36.49%	-49.07%	1,460.16%	99.52%	-1,748.56%
Invested Capital Q/Q Growth	0.00%	1.42%	0.40%	-1.02%	0.88%	-2.08%	0.68%	0.61%	-2.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	21.26%	21.16%	16.78%	17.99%	32.10%	15.09%	9.57%	-15.26%	6.16%
Operating Margin	9.35%	9.69%	5.11%	7.12%	23.69%	2.44%	-3.88%	-29.59%	-6.48%
EBIT Margin	9.48%	9.57%	4.77%	6.95%	23.42%	2.10%	-4.56%	-31.10%	-8.36%
Profit (Net Income) Margin	-1.34%	1.59%	-3.96%	-0.89%	15.67%	-8.29%	-15.64%	-41.63%	-17.89%
Tax Burden Percent	109.86%	95.83%	100.00%	123.08%	100.85%	101.24%	101.02%	99.75%	101.45%
Interest Burden Percent	-12.89%	17.36%	-82.95%	-10.40%	66.36%	-390.29%	339.60%	134.17%	210.83%
Effective Tax Rate	0.00%	5.21%	0.00%	0.00%	-0.85%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.72%	6.08%	2.27%	3.05%	13.53%	0.84%	-1.10%	-7.02%	-2.47%
ROIC Less NNEP Spread (ROIC-NNEP)	3.04%	4.57%	0.87%	1.93%	11.49%	-0.88%	-3.08%	-10.07%	-6.72%
Return on Net Nonoperating Assets (RNNOA)	10.48%	20.94%	3.94%	7.84%	41.54%	-3.56%	-10.79%	-27.58%	-21.66%
Return on Equity (ROE)	15.19%	27.02%	6.21%	10.88%	55.07%	-2.72%	-11.89%	-34.60%	-24.13%
Cash Return on Invested Capital (CROIC)	10.32%	6.32%	8.52%	5.45%	0.81%	0.21%	0.83%	-6.80%	-220.32%
Operating Return on Assets (OROA)	4.91%	4.42%	2.12%	2.98%	9.23%	0.70%	-1.30%	-7.21%	-1.55%
Return on Assets (ROA)	-0.69%	0.74%	-1.76%	-0.38%	6.18%	-2.76%	-4.45%	-9.64%	-3.31%
Return on Common Equity (ROCE)	15.20%	27.02%	6.21%	10.88%	55.07%	-2.72%	-11.89%	-34.60%	-24.13%
Return on Equity Simple (ROE_SIMPLE)	22.35%	13.27%	6.06%	0.00%	-23.33%	-59.13%	-79.35%	0.00%	-84.91%
Net Operating Profit after Tax (NOPAT)	380	531	193	269	1,638	84	-120	-795	-195
NOPAT Margin	6.54%	9.18%	3.57%	4.98%	23.89%	1.71%	-2.72%	-20.71%	-4.54%
Net Nonoperating Expense Percent (NNEP)	1.68%	1.51%	1.40%	1.12%	2.03%	1.72%	1.99%	3.05%	4.26%
Return On Investment Capital (ROIC_SIMPLE)	1.05%	-	0.52%	0.72%	-	-	-	-1.91%	-
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	14.60%	13.65%	15.04%	14.62%	10.40%	14.99%	16.07%	19.30%	14.52%
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	90.67%	90.30%	94.91%	92.90%	76.29%	97.56%	103.88%	129.54%	106.50%
Earnings before Interest and Taxes (EBIT)	551	553	258	375	1,605	103	-202	-1,194	-360
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,235	1,223	907	971	2,200	741	424	-586	265
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Earnings (P/E)	0.02	0.03	0.07	0.00	0.00	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	4,844.28%	3,462.73%	1,478.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.74	0.81	0.81	0.80	0.80	0.83	0.83	0.80	0.76
Enterprise Value to Revenue (EV/Rev)	1.03	1.23	1.26	1.31	1.42	1.67	1.98	2.35	2.81
Enterprise Value to EBITDA (EV/EBITDA)	3.92	5.37	5.83	6.39	10.72	34.65	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	6.64	10.35	12.18	14.98	91.23	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	6.85	10.23	12.04	20.58	93.26	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	5.16	4.40	5.04	6.58	8.78	27.48	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	7.20	12.92	9.43	14.64	99.45	389.39	96.69	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	2.94	4.48	4.60	4.44	4.50	5.75	5.70	4.89	4.07
Long-Term Debt to Equity	2.78	4.16	4.27	4.14	4.24	5.44	5.30	4.52	3.40
Financial Leverage	3.45	4.58	4.53	4.06	3.61	4.05	3.50	2.74	3.22
Leverage Ratio	6.20	8.00	7.92	7.23	6.63	7.42	6.39	5.47	6.20
Compound Leverage Factor	-0.80	1.39	-6.57	-0.75	4.40	-28.97	21.69	7.34	13.06
Debt to Total Capital	74.64%	81.74%	82.14%	81.63%	81.81%	85.18%	85.06%	83.02%	80.26%
Short-Term Debt to Total Capital	4.23%	5.84%	5.87%	5.58%	4.65%	4.52%	5.97%	6.23%	13.08%
Long-Term Debt to Total Capital	70.41%	75.90%	76.28%	76.05%	77.15%	80.66%	79.10%	76.79%	67.18%
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%	18.26%	17.86%	18.37%	18.19%	14.82%	14.94%	16.98%	19.74%
Debt to EBITDA	4.04	5.67	6.28	6.93	11.79	39.94	-46.79	-16.47	-11.76
Net Debt to EBITDA	3.92	5.37	5.82	6.38	10.71	34.63	-39.50	-13.60	-9.32
Long-Term Debt to EBITDA	3.81	5.27	5.83	6.46	11.12	37.82	-43.50	-15.23	-9.84
Debt to NOPAT	7.05	10.80	12.98	22.33	102.54	-32.83	-16.40	-11.27	-9.48
Net Debt to NOPAT	6.84	10.22	12.03	20.56	93.17	-28.46	-13.85	-9.31	-7.51
Long-Term Debt to NOPAT	6.65	10.03	12.05	20.80	96.71	-31.08	-15.25	-10.42	-7.93
Altman Z-Score	0.41	0.28	0.28	0.32	0.36	0.19	0.17	0.09	0.11
Noncontrolling Interest Sharing Ratio	-0.01%	0.01%	0.00%	0.01%	0.00%	0.01%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.26	0.28	0.36	0.46	0.43	0.52	0.64	0.71	0.65
Quick Ratio	0.12	0.16	0.23	0.26	0.30	0.42	0.54	0.42	0.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	191	-58	849	825	1,619	1,186	2,329	-171	-35,574
Operating Cash Flow to CapEx	152.39%	154.59%	82.69%	136.59%	219.12%	163.13%	36.09%	-9.91%	-63.94%
Free Cash Flow to Firm to Interest Expense	0.30	-0.12	1.68	1.77	2.70	2.07	4.32	-0.38	-84.30
Operating Cash Flow to Interest Expense	1.47	4.22	3.51	1.98	3.06	1.98	0.72	-0.26	-0.82
Operating Cash Flow Less CapEx to Interest Expense	0.51	1.49	-0.73	0.53	1.66	0.77	-1.27	-2.88	-2.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.46	0.44	0.43	0.39	0.33	0.28	0.23	0.19
Accounts Receivable Turnover	42.84	49.71	38.98	45.41	47.42	43.28	38.35	37.97	26.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.61	0.57	0.56	0.55	0.51	0.44	0.38	0.32	0.25
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	8.52	7.34	9.36	8.04	7.70	8.43	9.52	9.61	13.67
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	8.52	7.34	9.36	8.04	7.70	8.43	9.52	9.61	13.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	35,368	35,677	35,179	35,038	35,398	35,088	35,835	35,594	35,379
Invested Capital Turnover	0.72	0.66	0.64	0.61	0.57	0.49	0.40	0.34	0.54
Increase / (Decrease) in Invested Capital	189	589	-656	-556	19	-1,102	-2,449	-624	35,379
Enterprise Value (EV)	26,227	28,889	28,524	28,183	28,463	29,243	29,684	28,546	27,013
Market Capitalization	42	26	27	26	27	19	18	17	14
Book Value per Share	$6.79	$5.20	$2.75	$5.27	$5.33	$4.50	$4.75	$5.44	$7.10
Tangible Book Value per Share	$5.50	$3.87	$2.03	$3.93	$3.99	$3.16	$3.41	$4.10	$5.63
Total Capital	36,200	37,323	37,421	37,454	38,256	39,575	41,305	41,611	42,449
Total Debt	27,018	30,509	30,739	30,572	31,296	33,710	35,136	34,546	34,070
Total Long-Term Debt	25,487	28,328	28,544	28,483	29,516	31,921	32,672	31,953	28,518
Net Debt	26,185	28,863	28,497	28,157	28,436	29,224	29,666	28,529	26,999
Capital Expenditures (CapEx)	607	1,319	2,138	675	837	697	1,075	1,181	538
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-7,903	-9,082	-7,959	-6,541	-7,405	-8,326	-6,952	-6,537	-6,041
Debt-free Net Working Capital (DFNWC)	-7,070	-7,436	-5,717	-4,126	-4,545	-3,840	-1,482	-520	1,030
Net Working Capital (NWC)	-8,601	-9,617	-7,912	-6,215	-6,325	-5,629	-3,946	-3,113	-4,522
Net Nonoperating Expense (NNE)	458	439	407	317	564	491	573	803	575
Net Nonoperating Obligations (NNO)	26,186	28,863	28,497	28,156	28,438	29,223	29,666	28,529	27,000
Total Depreciation and Amortization (D&A)	684	670	649	596	595	638	626	608	625
Debt-free, Cash-free Net Working Capital to Revenue	-31.08%	-38.75%	-35.27%	-30.29%	-36.96%	-47.61%	-46.42%	-53.72%	-62.83%
Debt-free Net Working Capital to Revenue	-27.81%	-31.73%	-25.33%	-19.11%	-22.68%	-21.96%	-9.90%	-4.27%	10.71%
Net Working Capital to Revenue	-33.83%	-41.03%	-35.06%	-28.78%	-31.57%	-32.19%	-26.35%	-25.58%	-47.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	$0.07	($0.17)	($0.04)	$0.85	($0.32)	($0.55)	($1.24)	($0.65)
Adjusted Weighted Average Basic Shares Outstanding	1.35B	2.43B	2.43B	2.43B	2.43B	2.43B	2.42B	2.41B	2.41B
Adjusted Diluted Earnings per Share	($0.06)	$0.07	($0.17)	$0.02	$0.79	($0.32)	($0.55)	($1.24)	($0.65)
Adjusted Weighted Average Diluted Shares Outstanding	1.35B	2.43B	2.43B	2.43B	2.43B	2.43B	2.42B	2.41B	2.41B
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	2.43B	2.43B	2.43B	2.43B	2.43B	2.42B	2.41B	2.41B
Normalized Net Operating Profit after Tax (NOPAT)	380	531	193	269	1,137	84	-120	-493	-195
Normalized NOPAT Margin	6.54%	9.18%	3.57%	4.98%	16.59%	1.71%	-2.72%	-12.84%	-4.54%
Pre Tax Income Margin	-1.22%	1.66%	-3.96%	-0.72%	15.54%	-8.19%	-15.48%	-41.73%	-17.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.88	1.14	0.51	0.80	2.68	0.18	-0.37	-2.65	-0.85
NOPAT to Interest Expense	0.60	1.10	0.38	0.58	2.73	0.15	-0.22	-1.77	-0.46
EBIT Less CapEx to Interest Expense	-0.09	-1.59	-3.73	-0.64	1.28	-1.04	-2.37	-5.28	-2.13
NOPAT Less CapEx to Interest Expense	-0.36	-1.63	-3.86	-0.87	1.34	-1.07	-2.22	-4.39	-1.74
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%	-0.72%	0.00%	-1.43%	-2.47%

Frequently Asked Questions About Carnival Co. &'s Financials

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

According to the most recent income statement we have on file, Carnival Co. &'s fiscal year ends in November. Their fiscal 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 a downward trend, with a most recent value of $1.92 billion in 2024, falling from $8.18 billion in 2015. The previous period was -$74 million in 2023.

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: $25.02 billion
Total Operating Expenses: $21.45 billion

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

Over the last 9 years, Carnival Co. &'s total revenue changed from $31.43 billion in 2015 to $25.02 billion in 2024, a change of -20.4%.

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 7.06 in 2024, a change of -76.0%.

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This page (NYSE:CUK) was last updated on 5/25/2025 by MarketBeat.com Staff

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Carnival Co. & (CUK) Financials

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Carnival Co. & (CUK) Financials

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