Carnival Co. & (CUK) Financials

$17.83 +0.81 (+4.76%)

Closing price 05/2/2025 03:59 PM Eastern

Extended Trading

$17.66 -0.17 (-0.98%)

As of 04:48 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
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
Net Income / (Loss) Attributable to Common Shareholders	8,179	5,948	15,916	3,152	2,989	-10,236	-9,501	-6,093	-76	1,916
Consolidated Net Income / (Loss)	8,179	5,948	15,916	3,152	2,989	-10,236	-9,501	-6,093	-74	1,916
Net Income / (Loss) Continuing Operations	8,179	5,948	15,916	3,153	2,989	-10,236	-9,501	-6,094	-76	1,916
Total Pre-Tax Income	8,221	5,899	15,976	3,207	3,060	-10,253	-9,522	-6,080	-62	1,915
Total Operating Income	8,996	0.00	16,119	3,324	3,277	-8,865	-7,089	-4,379	1,956	3,574
Total Gross Profit	22,136	7,006	17,510	7,807	7,943	3,220	1,908	12,168	21,593	25,021
Total Revenue	31,428	16,389	17,510	18,881	20,825	5,595	1,908	12,168	21,593	25,021
Operating Revenue	31,202	16,389	17,510	18,881	20,825	5,595	1,908	12,168	21,593	25,021
Total Cost of Revenue	9,292	9,383	0.00	11,074	12,882	2,375	0.00	0.00	0.00	0.00
Total Operating Expenses	13,140	864	1,391	4,483	4,666	12,085	8,998	16,547	19,637	21,448
Selling, General & Admin Expense	2,067	2,197	2,265	2,450	2,480	1,878	1,885	2,515	2,950	3,252
Depreciation Expense	1,626	1,738	1,846	2,017	2,160	2,241	2,233	2,275	2,370	2,557
Other Operating Expenses / (Income)	9,447	3,071	-2,809	-	-	3,903	4,063	11,317	14,317	15,639
Impairment Charge	0.00	0.00	89	16	26	4,063	817	440	0.00	0.00
Total Other Income / (Expense), net	-775	-243	-143	-118	-215	-1,388	-2,432	-1,701	-2,019	-1,658
Interest Expense	217	223	198	194	206	1,354	2,271	1,610	2,177	1,834
Interest & Investment Income	8.00	6.00	9.00	14	23	18	12	74	233	93
Other Income / (Expense), net	-566	-26	46	62	-32	-52	-173	-165	-75	83
Income Tax Expense	42	-49	60	54	71	-17	-21	14	13	-1.00
Basic Earnings per Share	$2.26	$3.73	$3.61	$4.45	$4.34	($13.20)	($8.46)	($5.16)	($0.06)	$1.50
Weighted Average Basic Shares Outstanding	794.20M	751.87M	-56.20M	3.95B	710.17M	932.67B	-	2.41B	2.43B	1.35B
Diluted Earnings per Share	$2.26	$3.72	$3.59	$4.44	$4.32	($13.20)	($8.46)	($5.16)	($0.06)	$1.44
Weighted Average Diluted Shares Outstanding	794.20M	751.87M	-56.20M	3.95B	710.17M	932.67B	-	2.41B	2.43B	1.35B
Weighted Average Basic & Diluted Shares Outstanding	794.20M	751.87M	-56.20M	3.95B	710.17M	932.67B	-	2.41B	2.43B	1.35B

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

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
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
Net Change in Cash & Equivalents	1,064	-792	-241	575	-457	9,161	-715	-2,940	-3,618	-1,204
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
Net Cash From Continuing Operating Activities	4,545	5,134	5,322	5,549	5,477	-6,299	-4,097	-1,661	4,280	5,916
Net Income / (Loss) Continuing Operations	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916
Consolidated Net Income / (Loss)	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916
Depreciation Expense	1,626	1,738	1,846	2,017	2,160	2,241	2,233	2,275	2,370	2,557
Amortization Expense	-	-	-	-	-	119	172	171	161	141
Non-Cash Adjustments To Reconcile Net Income	663	173	471	16	115	4,763	1,892	758	242	271
Changes in Operating Assets and Liabilities, net	499	444	399	364	212	-3,186	1,107	1,228	1,581	1,031
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
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
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
Purchase of Investments	-219	-291	-203	-135	0.00	-81	-2,963	-315	0.00	0.00
Sale of Property, Plant & Equipment	-	26	0.00	389	26	334	351	70	340	58
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	2,673	515	0.00	0.00
Other Investing Activities, net	35	4.00	25	-19	126	127	3.00	-97	134	34
Net Cash From Financing Activities	-942	-2,591	-2,452	-1,460	-655	18,650	6,949	3,577	-5,089	-2,584
Net Cash From Continuing Financing Activities	-942	-2,591	-2,452	-1,459	-654	18,649	6,949	3,577	-5,089	-2,584
Repayment of Debt	-1,898	-1,303	-1,280	-1,598	-2,342	-1,771	-7,120	-4,820	-8,057	-5,679
Issuance of Debt	2,041	1,989	467	2,959	3,674	17,872	13,042	7,209	2,961	3,095
Issuance of Common Equity	264	40	-	3.00	4.00	3,249	1,009	1,180	5.00	0.00
Other Net Changes in Cash	-	-	11	-	-	53	-13	-79	-	-8.00

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

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
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
Total Assets	39,237	38,881	40,778	42,401	45,060	53,594	53,344	51,703	49,120	49,057
Total Current Assets	2,451	1,689	1,596	2,226	2,060	10,564	10,133	7,492	5,266	3,378
Cash & Equivalents	1,395	603	395	982	518	9,513	8,939	4,029	2,415	1,210
Accounts Receivable	303	298	312	358	444	273	246	395	556	590
Inventories, net	330	322	387	450	427	335	356	428	528	507
Other Current Assets	423	466	502	436	671	443	379	652	1,767	1,070
Plant, Property, & Equipment, net	31,818	32,429	34,430	35,336	38,131	38,073	38,107	38,687	40,116	41,795
Total Noncurrent Assets	4,968	4,763	4,752	4,839	4,869	4,957	5,104	5,524	3,738	3,885
Goodwill	3,010	2,910	2,967	2,925	2,912	807	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
Other Noncurrent Operating Assets	650	578	585	738	783	2,964	3,344	3,789	1,990	2,143
Total Liabilities & Shareholders' Equity	39,237	38,881	40,777	42,401	45,057	53,220	53,344	51,703	49,120	49,057
Total Liabilities	15,466	16,284	16,561	17,958	19,692	33,037	41,199	44,638	42,239	39,804
Total Current Liabilities	6,956	7,072	8,799	9,205	9,127	8,685	10,408	10,605	11,481	11,617
Short-Term Debt	1,374	1,097	2,202	2,426	1,827	4,826	4,717	2,593	2,089	1,538
Accounts Payable	627	713	762	730	756	624	797	1,050	1,168	1,133
Accrued Expenses	1,683	1,740	1,877	1,654	1,809	1,144	1,641	1,942	2,003	2,358
Current Deferred Revenue	-	-	-	-	-	-	-	-	-	6,425
Other Current Liabilities	-	-	-	-	0.00	151	142	146	149	163
Total Noncurrent Liabilities	8,510	9,212	7,762	8,753	10,565	24,352	30,791	34,033	30,758	28,187
Long-Term Debt	7,413	8,302	6,993	7,897	9,675	22,130	28,509	31,953	28,483	25,936
Other Noncurrent Operating Liabilities	1,097	910	769	856	890	2,222	2,282	2,080	2,275	2,251
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	23,771	22,597	24,216	24,443	25,365	20,183	12,144	7,065	6,882	9,251
Total Preferred & Common Equity	23,771	22,597	24,216	24,443	25,365	20,183	12,144	7,065	6,882	9,251
Total Common Equity	23,771	22,597	24,216	24,443	25,365	20,183	12,145	7,064	6,882	9,251
Common Stock	8,927	8,997	9,055	9,121	9,172	13,948	15,664	17,245	17,085	17,529
Retained Earnings	20,060	21,843	23,292	25,066	26,653	16,075	6,448	269	185	2,101
Treasury Stock	-3,475	-5,789	-6,349	-7,795	-8,394	-8,404	-8,466	-8,468	-8,449	-8,404
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

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

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.07%	-47.85%	6.84%	7.83%	10.30%	-73.13%	-65.90%	537.74%	77.46%	15.88%
EBITDA Growth	14.73%	-82.98%	952.04%	-70.00%	0.04%	-221.31%	25.93%	56.80%	310.30%	44.04%
EBIT Growth	18.27%	-100.31%	62,273.08%	-79.05%	-4.16%	-374.79%	18.56%	37.43%	141.40%	94.42%
NOPAT Growth	21.19%	-100.00%	0.00%	-79.65%	-2.05%	-293.86%	20.03%	38.23%	144.67%	161.16%
Net Income Growth	19.59%	-27.28%	167.59%	-80.20%	-5.17%	-442.46%	7.18%	35.87%	98.79%	2,689.19%
EPS Growth	44.87%	64.60%	-3.49%	23.68%	-2.70%	-405.56%	35.91%	39.01%	98.84%	2,500.00%
Operating Cash Flow Growth	32.51%	12.96%	3.66%	4.27%	-1.33%	-215.09%	34.79%	59.36%	356.35%	38.36%
Free Cash Flow Firm Growth	33.05%	-102.14%	6,375.85%	-82.67%	-74.69%	-1,340.75%	59.50%	23.24%	178.86%	60.86%
Invested Capital Growth	-5.45%	0.74%	5.17%	2.32%	7.60%	4.53%	-4.69%	-1.72%	-1.56%	1.37%
Revenue Q/Q Growth	-13.87%	-58.45%	105.40%	26.78%	1.59%	-45.90%	190.41%	26.55%	7.77%	0.00%
EBITDA Q/Q Growth	-30.55%	-90.78%	821.02%	-68.89%	-0.46%	-189.24%	30.40%	27.61%	66.24%	0.00%
EBIT Q/Q Growth	-34.47%	-100.15%	475.84%	-77.99%	-2.14%	-97.37%	21.08%	14.73%	502.88%	0.00%
NOPAT Q/Q Growth	-33.60%	-100.00%	458.25%	-78.51%	-2.09%	-108.39%	23.97%	14.72%	348.62%	0.00%
Net Income Q/Q Growth	-35.00%	-64.16%	840.66%	-79.19%	-2.29%	-100.39%	18.00%	14.36%	95.44%	0.00%
EPS Q/Q Growth	27.68%	14.11%	-1.37%	-1.11%	-2.26%	-28.28%	-0.36%	17.44%	95.45%	0.00%
Operating Cash Flow Q/Q Growth	8.11%	0.90%	0.00%	1.63%	-0.94%	-75.61%	23.81%	13.07%	32.05%	0.00%
Free Cash Flow Firm Q/Q Growth	-30.17%	-101.36%	362.23%	-82.53%	-70.36%	-81.09%	-110.70%	93.74%	572.68%	0.00%
Invested Capital Q/Q Growth	-1.61%	-1.38%	0.50%	0.12%	4.23%	4.87%	0.00%	0.61%	-1.02%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	70.43%	42.75%	100.00%	41.35%	38.14%	57.55%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	32.00%	10.45%	102.86%	28.62%	25.95%	-117.19%	-254.56%	-17.24%	20.43%	25.40%
Operating Margin	28.62%	0.00%	92.06%	17.61%	15.74%	-158.45%	-371.54%	-35.99%	9.06%	14.28%
EBIT Margin	26.82%	-0.16%	92.32%	17.93%	15.58%	-159.37%	-380.61%	-37.34%	8.71%	14.62%
Profit (Net Income) Margin	26.02%	36.29%	90.90%	16.69%	14.35%	-182.95%	-497.96%	-50.07%	-0.34%	7.66%
Tax Burden Percent	99.49%	100.83%	99.62%	98.29%	97.68%	99.83%	99.78%	100.21%	119.35%	100.05%
Interest Burden Percent	97.52%	-22,688.46%	98.83%	94.71%	94.30%	114.98%	131.12%	133.80%	-3.30%	52.37%
Effective Tax Rate	0.51%	-0.83%	0.38%	1.68%	2.32%	0.00%	0.00%	0.00%	0.00%	-0.05%
Return on Invested Capital (ROIC)	27.91%	0.00%	49.86%	9.78%	9.13%	-16.69%	-13.37%	-8.54%	3.88%	10.14%
ROIC Less NNEP Spread (ROIC-NNEP)	18.37%	73.49%	48.24%	8.51%	7.04%	-44.68%	-35.04%	-20.05%	-1.22%	4.04%
Return on Net Nonoperating Assets (RNNOA)	6.18%	25.66%	18.13%	3.17%	2.87%	-28.25%	-45.41%	-54.90%	-4.94%	13.62%
Return on Equity (ROE)	34.10%	25.66%	68.00%	12.96%	12.00%	-44.95%	-58.78%	-63.44%	-1.06%	23.75%
Cash Return on Invested Capital (CROIC)	33.52%	-0.74%	44.82%	7.49%	1.81%	-21.13%	-8.57%	-6.80%	5.45%	8.78%
Operating Return on Assets (OROA)	21.43%	-0.07%	40.59%	8.14%	7.42%	-18.08%	-13.58%	-8.65%	3.73%	7.45%
Return on Assets (ROA)	20.79%	15.23%	39.96%	7.58%	6.84%	-20.75%	-17.77%	-11.60%	-0.15%	3.90%
Return on Common Equity (ROCE)	34.10%	25.66%	68.00%	12.96%	12.00%	-44.95%	-58.78%	-63.44%	-1.06%	23.75%
Return on Equity Simple (ROE_SIMPLE)	34.41%	26.32%	65.73%	12.90%	11.78%	-50.72%	-78.24%	-86.24%	-1.08%	20.71%
Net Operating Profit after Tax (NOPAT)	8,950	0.00	16,058	3,268	3,201	-6,206	-4,962	-3,065	1,369	3,576
NOPAT Margin	28.48%	0.00%	91.71%	17.31%	15.37%	-110.91%	-260.08%	-25.19%	6.34%	14.29%
Net Nonoperating Expense Percent (NNEP)	9.55%	-73.49%	1.62%	1.28%	2.09%	27.99%	21.67%	11.51%	5.09%	6.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-7.37%	3.66%	9.74%
Cost of Revenue to Revenue	29.57%	57.25%	0.00%	58.65%	61.86%	42.45%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	6.58%	13.41%	12.94%	12.98%	11.91%	33.57%	98.79%	20.67%	13.66%	13.00%
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	41.81%	5.27%	7.94%	23.74%	22.41%	216.00%	471.59%	135.99%	90.94%	85.72%
Earnings before Interest and Taxes (EBIT)	8,430	-26	16,165	3,386	3,245	-8,917	-7,262	-4,544	1,881	3,657
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	10,056	1,712	18,011	5,403	5,405	-6,557	-4,857	-2,098	4,412	6,355
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)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.00
Price to Earnings (P/E)	0.01	0.01	0.00	0.02	0.01	0.00	0.00	0.00	0.00	0.02
Dividend Yield	2.42%	2.95%	2.64%	3.47%	4.76%	11.32%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	15,333.41%	11,910.70%	24,262.83%	5,331.49%	6,881.96%	0.00%	0.00%	0.00%	0.00%	4,389.25%
Enterprise Value to Invested Capital (EV/IC)	0.24	0.28	0.27	0.28	0.30	0.46	0.67	0.80	0.80	0.74
Enterprise Value to Revenue (EV/Rev)	0.24	0.54	0.51	0.50	0.53	3.12	12.63	2.35	1.31	1.05
Enterprise Value to EBITDA (EV/EBITDA)	0.74	5.17	0.49	1.74	2.04	0.00	0.00	0.00	6.39	4.14
Enterprise Value to EBIT (EV/EBIT)	0.88	0.00	0.55	2.78	3.40	0.00	0.00	0.00	14.98	7.19
Enterprise Value to NOPAT (EV/NOPAT)	0.83	0.00	0.55	2.88	3.45	0.00	0.00	0.00	20.58	7.36
Enterprise Value to Operating Cash Flow (EV/OCF)	1.64	1.72	1.67	1.69	2.01	0.00	0.00	0.00	6.58	4.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.69	0.00	0.61	3.76	17.42	0.00	0.00	0.00	14.64	8.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.37	0.42	0.38	0.42	0.45	1.34	2.74	4.89	4.44	2.97
Long-Term Debt to Equity	0.31	0.37	0.29	0.32	0.38	1.10	2.35	4.52	4.14	2.80
Financial Leverage	0.34	0.35	0.38	0.37	0.41	0.63	1.30	2.74	4.06	3.37
Leverage Ratio	1.64	1.68	1.70	1.71	1.76	2.17	3.31	5.47	7.23	6.09
Compound Leverage Factor	1.60	-382.24	1.68	1.62	1.66	2.49	4.34	7.32	-0.24	3.19
Debt to Total Capital	26.99%	29.38%	27.52%	29.69%	31.20%	57.18%	73.23%	83.02%	81.63%	74.81%
Short-Term Debt to Total Capital	4.22%	3.43%	6.59%	6.98%	4.96%	10.24%	10.40%	6.23%	5.58%	4.19%
Long-Term Debt to Total Capital	22.77%	25.95%	20.93%	22.71%	26.24%	46.95%	62.84%	76.79%	76.05%	70.62%
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	73.01%	70.62%	72.48%	70.31%	68.80%	42.82%	26.77%	16.98%	18.37%	25.19%
Debt to EBITDA	0.87	5.49	0.51	1.91	2.13	-4.11	-6.84	-16.47	6.93	4.32
Net Debt to EBITDA	0.74	5.14	0.49	1.73	2.03	-2.66	-4.96	-13.60	6.38	4.13
Long-Term Debt to EBITDA	0.74	4.85	0.39	1.46	1.79	-3.38	-5.87	-15.23	6.46	4.08
Debt to NOPAT	0.98	0.00	0.57	3.16	3.59	-4.34	-6.70	-11.27	22.33	7.68
Net Debt to NOPAT	0.83	0.00	0.55	2.86	3.43	-2.81	-4.85	-9.31	20.56	7.34
Long-Term Debt to NOPAT	0.83	0.00	0.44	2.42	3.02	-3.57	-5.75	-10.42	20.80	7.25
Altman Z-Score	2.09	1.04	2.33	1.34	1.34	0.02	-0.25	-0.12	0.42	0.62
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	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
Quick Ratio	0.24	0.13	0.08	0.15	0.11	1.13	0.90	0.42	0.26	0.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	10,748	-230	14,434	2,501	633	-7,854	-3,180	-2,441	1,925	3,097
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%
Free Cash Flow to Firm to Interest Expense	49.53	-1.03	72.90	12.89	3.07	-5.80	-1.40	-1.52	0.88	1.69
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
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
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.80	0.42	0.44	0.45	0.48	0.11	0.04	0.23	0.43	0.51
Accounts Receivable Turnover	98.99	54.54	57.41	56.36	51.93	15.61	7.35	37.97	45.41	43.67
Inventory Turnover	27.37	28.78	0.00	26.46	29.38	6.23	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.97	0.51	0.52	0.54	0.57	0.15	0.05	0.32	0.55	0.61
Accounts Payable Turnover	14.83	14.00	0.00	14.84	17.34	3.44	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	3.69	6.69	6.36	6.48	7.03	23.39	49.64	9.61	8.04	8.36
Days Inventory Outstanding (DIO)	13.34	12.68	0.00	13.79	12.42	58.55	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	24.61	26.06	0.00	24.59	21.05	106.04	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-7.59	-6.69	6.36	-4.32	-1.60	-24.10	49.64	9.61	8.04	8.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	31,163	31,393	33,017	33,784	36,352	38,000	36,218	35,594	35,038	35,517
Invested Capital Turnover	0.98	0.52	0.54	0.57	0.59	0.15	0.05	0.34	0.61	0.71
Increase / (Decrease) in Invested Capital	-1,798	230	1,624	767	2,568	1,648	-1,782	-624	-556	479
Enterprise Value (EV)	7,445	8,846	8,866	9,400	11,027	17,466	24,100	28,546	28,183	26,308
Market Capitalization	53	50	66	59	43	23	27	17	26	44
Book Value per Share	$29.36	$29.97	$32.41	$33.71	$35.60	$22.35	$10.49	$5.44	$5.27	$7.06
Tangible Book Value per Share	$24.03	$24.42	$26.84	$28.05	$29.86	$20.14	$8.97	$4.10	$3.93	$5.73
Total Capital	32,558	31,996	33,411	34,766	36,867	47,139	45,370	41,611	37,454	36,725
Total Debt	8,787	9,399	9,195	10,323	11,502	26,956	33,226	34,546	30,572	27,474
Total Long-Term Debt	7,413	8,302	6,993	7,897	9,675	22,130	28,509	31,953	28,483	25,936
Net Debt	7,392	8,796	8,800	9,341	10,984	17,443	24,073	28,529	28,157	26,264
Capital Expenditures (CapEx)	2,294	3,036	2,944	3,360	5,403	3,286	3,256	4,870	2,944	4,568
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,526	-4,889	-5,396	-5,535	-5,758	-2,808	-4,711	-6,537	-6,541	-7,911
Debt-free Net Working Capital (DFNWC)	-3,131	-4,286	-5,001	-4,553	-5,240	6,705	4,442	-520	-4,126	-6,701
Net Working Capital (NWC)	-4,505	-5,383	-7,203	-6,979	-7,067	1,879	-275	-3,113	-6,215	-8,239
Net Nonoperating Expense (NNE)	771	-5,948	142	116	212	4,031	4,539	3,028	1,443	1,660
Net Nonoperating Obligations (NNO)	7,392	8,796	8,801	9,341	10,987	17,817	24,074	28,529	28,156	26,266
Total Depreciation and Amortization (D&A)	1,626	1,738	1,846	2,017	2,160	2,360	2,405	2,446	2,531	2,698
Debt-free, Cash-free Net Working Capital to Revenue	-14.40%	-29.83%	-30.82%	-29.32%	-27.65%	-50.19%	-246.91%	-53.72%	-30.29%	-31.62%
Debt-free Net Working Capital to Revenue	-9.96%	-26.15%	-28.56%	-24.11%	-25.16%	119.84%	232.81%	-4.27%	-19.11%	-26.78%
Net Working Capital to Revenue	-14.33%	-32.85%	-41.14%	-36.96%	-33.94%	33.58%	-14.41%	-25.58%	-28.78%	-32.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.26	$3.73	$3.61	$4.45	$4.34	($13.20)	$0.00	($5.16)	($0.06)	$1.50
Adjusted Weighted Average Basic Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	0.00	2.41B	2.43B	1.35B
Adjusted Diluted Earnings per Share	$2.26	$3.72	$3.59	$4.44	$4.32	($13.20)	$0.00	($5.16)	($0.06)	$1.44
Adjusted Weighted Average Diluted Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	0.00	2.41B	2.43B	1.35B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$3.61	$4.45	$4.34	$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	0.00	2.41B	2.43B	1.35B
Normalized Net Operating Profit after Tax (NOPAT)	8,950	0.00	16,147	3,284	3,226	-3,361	-4,390	-2,757	1,369	2,502
Normalized NOPAT Margin	28.48%	0.00%	92.22%	17.39%	15.49%	-60.08%	-230.10%	-22.66%	6.34%	10.00%
Pre Tax Income Margin	26.16%	35.99%	91.24%	16.99%	14.69%	-183.25%	-499.06%	-49.97%	-0.29%	7.65%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	38.85	-0.12	81.64	17.45	15.75	-6.59	-3.20	-2.82	0.86	1.99
NOPAT to Interest Expense	41.24	0.00	81.10	16.85	15.54	-4.58	-2.19	-1.90	0.63	1.95
EBIT Less CapEx to Interest Expense	28.28	-13.73	66.77	0.13	-10.48	-9.01	-4.63	-5.85	-0.49	-0.50
NOPAT Less CapEx to Interest Expense	30.67	-13.61	66.23	-0.47	-10.69	-7.01	-3.62	-4.93	-0.72	-0.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	9.98%	16.43%	6.83%	42.99%	46.40%	-6.73%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	16.49%	55.77%	10.30%	89.56%	66.58%	-6.85%	-1.98%	-1.43%	0.00%	0.00%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q1 2025
Period end date	8/31/2022	11/30/2022	2/28/2023	5/31/2023	8/31/2023	11/30/2023	2/29/2024	5/31/2024	2/28/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	688.46%	198.52%	173.07%	104.54%	59.21%	40.56%	21.98%	17.72%	7.47%
EBITDA Growth	118.18%	57.72%	145.94%	186.77%	730.19%	265.70%	113.92%	65.05%	36.16%
EBIT Growth	82.59%	39.67%	86.74%	107.02%	545.83%	131.41%	227.72%	436.89%	113.57%
NOPAT Growth	86.44%	39.96%	88.46%	108.15%	938.57%	133.80%	260.47%	531.94%	96.74%
Net Income Growth	72.85%	39.01%	63.35%	77.81%	239.48%	97.00%	69.12%	122.60%	63.55%
EPS Growth	74.00%	46.78%	66.87%	80.12%	221.54%	101.61%	69.09%	121.88%	64.71%
Operating Cash Flow Growth	60.86%	68.21%	132.01%	37,800.00%	633.14%	888.03%	355.67%	79.33%	-47.68%
Free Cash Flow Firm Growth	-202.23%	-137.41%	672.85%	-45.04%	104.55%	581.78%	-63.53%	-104.90%	-77.50%
Invested Capital Growth	0.00%	-1.72%	-6.40%	-3.05%	0.05%	-1.56%	-1.83%	1.68%	0.54%
Revenue Q/Q Growth	79.30%	-10.82%	15.45%	10.81%	39.56%	-21.27%	0.19%	6.94%	0.00%
EBITDA Q/Q Growth	131.03%	-321.13%	172.35%	74.76%	196.90%	-55.86%	-6.59%	34.84%	0.00%
EBIT Q/Q Growth	75.46%	-231.67%	83.08%	150.99%	1,458.25%	-76.64%	-31.20%	114.34%	0.00%
NOPAT Q/Q Growth	81.06%	-307.17%	84.86%	169.77%	1,849.67%	-83.59%	-28.13%	174.76%	0.00%
Net Income Q/Q Growth	58.02%	-107.53%	56.63%	41.27%	363.88%	-104.47%	-345.83%	142.99%	0.00%
EPS Q/Q Growth	59.63%	-90.77%	55.65%	41.82%	346.88%	-97.47%	-950.00%	141.18%	0.00%
Operating Cash Flow Q/Q Growth	-11,566.67%	65.99%	431.62%	193.04%	61.30%	-49.73%	91.76%	15.33%	0.00%
Free Cash Flow Firm Q/Q Growth	-1,748.56%	99.52%	1,460.16%	-49.07%	36.49%	-49.05%	2.96%	-106.85%	0.00%
Invested Capital Q/Q Growth	-2.24%	0.61%	0.68%	-2.08%	0.88%	-1.02%	0.40%	1.42%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	6.16%	-15.26%	9.57%	15.09%	32.10%	17.99%	16.78%	21.16%	21.26%
Operating Margin	-6.48%	-29.59%	-3.88%	2.44%	23.69%	7.12%	5.11%	9.69%	9.35%
EBIT Margin	-8.36%	-31.10%	-4.56%	2.10%	23.42%	6.95%	4.77%	9.57%	9.48%
Profit (Net Income) Margin	-17.89%	-41.63%	-15.64%	-8.29%	15.67%	-0.89%	-3.96%	1.59%	-1.34%
Tax Burden Percent	101.45%	99.75%	101.02%	101.24%	100.85%	123.08%	100.00%	95.83%	109.86%
Interest Burden Percent	210.83%	134.17%	339.60%	-390.29%	66.36%	-10.40%	-82.95%	17.36%	-12.89%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	-0.85%	0.00%	0.00%	5.21%	0.00%
Return on Invested Capital (ROIC)	-2.47%	-7.02%	-1.10%	0.84%	13.53%	3.05%	2.27%	6.08%	4.72%
ROIC Less NNEP Spread (ROIC-NNEP)	-6.72%	-10.07%	-3.08%	-0.88%	11.49%	1.93%	0.87%	4.57%	3.04%
Return on Net Nonoperating Assets (RNNOA)	-21.66%	-27.58%	-10.79%	-3.56%	41.54%	7.84%	3.94%	20.94%	10.48%
Return on Equity (ROE)	-24.13%	-34.60%	-11.89%	-2.72%	55.07%	10.88%	6.21%	27.02%	15.19%
Cash Return on Invested Capital (CROIC)	-220.32%	-6.80%	0.83%	0.21%	0.81%	5.45%	8.52%	6.32%	10.32%
Operating Return on Assets (OROA)	-1.55%	-7.21%	-1.30%	0.70%	9.23%	2.98%	2.12%	4.42%	4.91%
Return on Assets (ROA)	-3.31%	-9.64%	-4.45%	-2.76%	6.18%	-0.38%	-1.76%	0.74%	-0.69%
Return on Common Equity (ROCE)	-24.13%	-34.60%	-11.89%	-2.72%	55.07%	10.88%	6.21%	27.02%	15.20%
Return on Equity Simple (ROE_SIMPLE)	-84.91%	0.00%	-79.35%	-59.13%	-23.33%	0.00%	6.06%	13.27%	22.35%
Net Operating Profit after Tax (NOPAT)	-195	-795	-120	84	1,638	269	193	531	380
NOPAT Margin	-4.54%	-20.71%	-2.72%	1.71%	23.89%	4.98%	3.57%	9.18%	6.54%
Net Nonoperating Expense Percent (NNEP)	4.26%	3.05%	1.99%	1.72%	2.03%	1.12%	1.40%	1.51%	1.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.91%	-	-	-	0.72%	0.52%	-	1.05%
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	14.52%	19.30%	16.07%	14.99%	10.40%	14.62%	15.04%	13.65%	14.60%
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	106.50%	129.54%	103.88%	97.56%	76.29%	92.90%	94.91%	90.30%	90.67%
Earnings before Interest and Taxes (EBIT)	-360	-1,194	-202	103	1,605	375	258	553	551
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	265	-586	424	741	2,200	971	907	1,223	1,235
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)	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01
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)	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.03	0.02
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,478.30%	3,462.73%	4,844.28%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.80	0.83	0.83	0.80	0.80	0.81	0.81	0.74
Enterprise Value to Revenue (EV/Rev)	2.81	2.35	1.98	1.67	1.42	1.31	1.26	1.23	1.03
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	34.65	10.72	6.39	5.83	5.37	3.92
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	91.23	14.98	12.18	10.35	6.64
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	93.26	20.58	12.04	10.23	6.85
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	27.48	8.78	6.58	5.04	4.40	5.16
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	96.69	389.39	99.45	14.64	9.43	12.92	7.20
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	4.07	4.89	5.70	5.75	4.50	4.44	4.60	4.48	2.94
Long-Term Debt to Equity	3.40	4.52	5.30	5.44	4.24	4.14	4.27	4.16	2.78
Financial Leverage	3.22	2.74	3.50	4.05	3.61	4.06	4.53	4.58	3.45
Leverage Ratio	6.20	5.47	6.39	7.42	6.63	7.23	7.92	8.00	6.20
Compound Leverage Factor	13.06	7.34	21.69	-28.97	4.40	-0.75	-6.57	1.39	-0.80
Debt to Total Capital	80.26%	83.02%	85.06%	85.18%	81.81%	81.63%	82.14%	81.74%	74.64%
Short-Term Debt to Total Capital	13.08%	6.23%	5.97%	4.52%	4.65%	5.58%	5.87%	5.84%	4.23%
Long-Term Debt to Total Capital	67.18%	76.79%	79.10%	80.66%	77.15%	76.05%	76.28%	75.90%	70.41%
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	19.74%	16.98%	14.94%	14.82%	18.19%	18.37%	17.86%	18.26%	25.37%
Debt to EBITDA	-11.76	-16.47	-46.79	39.94	11.79	6.93	6.28	5.67	4.04
Net Debt to EBITDA	-9.32	-13.60	-39.50	34.63	10.71	6.38	5.82	5.37	3.92
Long-Term Debt to EBITDA	-9.84	-15.23	-43.50	37.82	11.12	6.46	5.83	5.27	3.81
Debt to NOPAT	-9.48	-11.27	-16.40	-32.83	102.54	22.33	12.98	10.80	7.05
Net Debt to NOPAT	-7.51	-9.31	-13.85	-28.46	93.17	20.56	12.03	10.22	6.84
Long-Term Debt to NOPAT	-7.93	-10.42	-15.25	-31.08	96.71	20.80	12.05	10.03	6.65
Altman Z-Score	0.11	0.09	0.17	0.19	0.36	0.32	0.28	0.28	0.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.01%	0.00%	0.01%	0.00%	0.01%	-0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.65	0.71	0.64	0.52	0.43	0.46	0.36	0.28	0.26
Quick Ratio	0.57	0.42	0.54	0.42	0.30	0.26	0.23	0.16	0.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-35,574	-171	2,329	1,186	1,619	825	849	-58	191
Operating Cash Flow to CapEx	-63.94%	-9.91%	36.09%	163.13%	219.12%	136.59%	82.69%	154.59%	152.39%
Free Cash Flow to Firm to Interest Expense	-84.30	-0.38	4.32	2.07	2.70	1.77	1.68	-0.12	0.30
Operating Cash Flow to Interest Expense	-0.82	-0.26	0.72	1.98	3.06	1.98	3.51	4.22	1.47
Operating Cash Flow Less CapEx to Interest Expense	-2.09	-2.88	-1.27	0.77	1.66	0.53	-0.73	1.49	0.51
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.23	0.28	0.33	0.39	0.43	0.44	0.46	0.52
Accounts Receivable Turnover	26.71	37.97	38.35	43.28	47.42	45.41	38.98	49.71	42.84
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.25	0.32	0.38	0.44	0.51	0.55	0.56	0.57	0.61
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)	13.67	9.61	9.52	8.43	7.70	8.04	9.36	7.34	8.52
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)	13.67	9.61	9.52	8.43	7.70	8.04	9.36	7.34	8.52
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	35,379	35,594	35,835	35,088	35,398	35,038	35,179	35,677	35,368
Invested Capital Turnover	0.54	0.34	0.40	0.49	0.57	0.61	0.64	0.66	0.72
Increase / (Decrease) in Invested Capital	35,379	-624	-2,449	-1,102	19	-556	-656	589	189
Enterprise Value (EV)	27,013	28,546	29,684	29,243	28,463	28,183	28,524	28,889	26,227
Market Capitalization	14	17	18	19	27	26	27	26	42
Book Value per Share	$7.10	$5.44	$4.75	$4.50	$5.33	$5.27	$2.75	$5.20	$6.79
Tangible Book Value per Share	$5.63	$4.10	$3.41	$3.16	$3.99	$3.93	$2.03	$3.87	$5.50
Total Capital	42,449	41,611	41,305	39,575	38,256	37,454	37,421	37,323	36,200
Total Debt	34,070	34,546	35,136	33,710	31,296	30,572	30,739	30,509	27,018
Total Long-Term Debt	28,518	31,953	32,672	31,921	29,516	28,483	28,544	28,328	25,487
Net Debt	26,999	28,529	29,666	29,224	28,436	28,157	28,497	28,863	26,185
Capital Expenditures (CapEx)	538	1,181	1,075	697	837	675	2,138	1,319	607
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6,041	-6,537	-6,952	-8,326	-7,405	-6,541	-7,959	-9,082	-7,903
Debt-free Net Working Capital (DFNWC)	1,030	-520	-1,482	-3,840	-4,545	-4,126	-5,717	-7,436	-7,070
Net Working Capital (NWC)	-4,522	-3,113	-3,946	-5,629	-6,325	-6,215	-7,912	-9,617	-8,601
Net Nonoperating Expense (NNE)	575	803	573	491	564	317	407	439	458
Net Nonoperating Obligations (NNO)	27,000	28,529	29,666	29,223	28,438	28,156	28,497	28,863	26,186
Total Depreciation and Amortization (D&A)	625	608	626	638	595	596	649	670	684
Debt-free, Cash-free Net Working Capital to Revenue	-62.83%	-53.72%	-46.42%	-47.61%	-36.96%	-30.29%	-35.27%	-38.75%	-31.08%
Debt-free Net Working Capital to Revenue	10.71%	-4.27%	-9.90%	-21.96%	-22.68%	-19.11%	-25.33%	-31.73%	-27.81%
Net Working Capital to Revenue	-47.03%	-25.58%	-26.35%	-32.19%	-31.57%	-28.78%	-35.06%	-41.03%	-33.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.65)	($1.24)	($0.55)	($0.32)	$0.85	($0.04)	($0.17)	$0.07	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	2.41B	2.41B	2.42B	2.43B	2.43B	2.43B	2.43B	2.43B	1.35B
Adjusted Diluted Earnings per Share	($0.65)	($1.24)	($0.55)	($0.32)	$0.79	$0.02	($0.17)	$0.07	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	2.41B	2.41B	2.42B	2.43B	2.43B	2.43B	2.43B	2.43B	1.35B
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	2.41B	2.41B	2.42B	2.43B	2.43B	2.43B	2.43B	2.43B	1.35B
Normalized Net Operating Profit after Tax (NOPAT)	-195	-493	-120	84	1,137	269	193	531	380
Normalized NOPAT Margin	-4.54%	-12.84%	-2.72%	1.71%	16.59%	4.98%	3.57%	9.18%	6.54%
Pre Tax Income Margin	-17.63%	-41.73%	-15.48%	-8.19%	15.54%	-0.72%	-3.96%	1.66%	-1.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.85	-2.65	-0.37	0.18	2.68	0.80	0.51	1.14	0.88
NOPAT to Interest Expense	-0.46	-1.77	-0.22	0.15	2.73	0.58	0.38	1.10	0.60
EBIT Less CapEx to Interest Expense	-2.13	-5.28	-2.37	-1.04	1.28	-0.64	-3.73	-1.59	-0.09
NOPAT Less CapEx to Interest Expense	-1.74	-4.39	-2.22	-1.07	1.34	-0.87	-3.86	-1.63	-0.36
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	-2.47%	-1.43%	0.00%	-0.72%	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 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 5/5/2025 by MarketBeat.com Staff

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Carnival Co. & (CUK) Financials

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Carnival Co. & (CUK) Financials

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