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6Mar 27, 2026·SEC
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Carnival Corporation & plc (CCL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Carnival Corporation & plc (CCL) stock price & volume — 10-year historical chart
Carnival Corporation & plc (CCL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Carnival Corporation & plc (CCL) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 27, 2026 | $0.20vs $0.18+8.5% | $6.2Bvs $6.1B+0.4% |
| Q1 2026 | Jan 27, 2026 | $0.30vs $0.18+62.7% | $6.3Bvs $6.1B+3.1% |
| Q4 2025 | Sep 29, 2025 | $1.43vs $1.32+8.3% | $8.2Bvs $8.1B+0.6% |
| Q3 2025 | Jun 24, 2025 | $0.35vs $0.25+41.9% | $6.3Bvs $6.2B+2.0% |
Carnival Corporation & plc (CCL) competitors in Cruise Lines and Voyages — business model, growth, and fundamentals comparison
Carnival Corporation & plc (CCL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Carnival Corporation & plc (CCL) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Nov'17 | Nov'18 | Nov'19 | Nov'20 | Nov'21 | Nov'22 | Nov'23 | Nov'24 | Nov'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 17.51B | 18.88B | 20.82B | 5.59B | 1.91B | 12.17B | 21.59B | 25.02B | 26.62B |
| Revenue Growth % | 6.84% | 7.82% | 10.3% | -73.14% | -65.89% | 537.79% | 77.44% | 15.88% | 6.4% |
| Cost of Goods Sold | 10.5B | 11.09B | 12.91B | 8.24B | 4.66B | 11.76B | 14.32B | 15.64B | 18.74B |
| COGS % of Revenue | 59.97% | 58.73% | 61.99% | 147.39% | 243.97% | 96.61% | 66.3% | 62.5% | 70.38% |
| Gross Profit | 7.01B▲ 0% | 7.79B▲ 11.2% | 7.92B▲ 1.6% | -2.65B▼ 133.5% | -2.75B▼ 3.6% | 412M▲ 115.0% | 7.28B▲ 1666.0% | 9.38B▲ 29.0% | 7.88B▼ 16.0% |
| Gross Margin % | 40.03% | 41.27% | 38.01% | -47.39% | -143.97% | 3.39% | 33.7% | 37.5% | 29.62% |
| Gross Profit Growth % | 0.04% | 11.16% | 1.6% | -133.49% | -3.62% | 115% | 1666.02% | 28.96% | -15.96% |
| Operating Expenses | 4.2B | 4.47B | 4.64B | 6.21B | 4.34B | 4.79B | 5.32B | 5.81B | 3.4B |
| OpEx % of Revenue | 23.99% | 23.65% | 22.28% | 111.08% | 227.57% | 39.37% | 24.64% | 23.22% | 12.78% |
| Selling, General & Admin | 2.27B | 2.45B | 2.48B | 1.88B | 1.89B | 2.52B | 2.95B | 3.25B | 3.4B |
| SG&A % of Revenue | 12.94% | 12.98% | 11.91% | 33.57% | 98.79% | 20.67% | 13.66% | 13% | 12.78% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.94B | 2.02B | 2.16B | 4.34B | 2.46B | 2.28B | 2.37B | 2.56B | 0 |
| Operating Income | 2.81B▲ 0% | 3.33B▲ 18.4% | 3.28B▼ 1.5% | -8.87B▼ 370.6% | -7.09B▲ 20.0% | -4.38B▲ 38.2% | 1.96B▲ 144.7% | 3.57B▲ 82.7% | 4.48B▲ 25.4% |
| Operating Margin % | 16.04% | 17.61% | 15.73% | -158.47% | -371.54% | -35.98% | 9.06% | 14.28% | 16.84% |
| Operating Income Growth % | -8.53% | 18.37% | -1.47% | -370.6% | 20.03% | 38.23% | 144.67% | 82.72% | 25.43% |
| EBITDA | 4.66B | 5.34B | 5.44B | -6.62B | -4.86B | -2.1B | 4.33B | 6.13B | 7.27B |
| EBITDA Margin % | 26.58% | 28.29% | 26.1% | -118.41% | -254.51% | -17.29% | 20.03% | 24.5% | 27.32% |
| EBITDA Growth % | -3.2% | 14.76% | 1.76% | -221.85% | 26.69% | 56.67% | 305.61% | 41.72% | 18.63% |
| D&A (Non-Cash Add-back) | 1.85B | 2.02B | 2.16B | 2.24B | 2.23B | 2.27B | 2.37B | 2.56B | 2.79B |
| EBIT | 2.86B | 3.4B | 3.27B | -9.36B | -7.92B | -4.47B | 2B | 3.67B | 4.12B |
| Net Interest Income | -189M | -180M | -183M | -877M | -1.59B | -1.53B | -1.83B | -1.66B | -1.3B |
| Interest Income | 9M | 14M | 23M | 18M | 12M | 74M | 233M | 93M | 51M |
| Interest Expense | 198M | 194M | 206M | 895M | 1.6B | 1.61B | 2.07B | 1.75B | 1.35B |
| Other Income/Expense | -143M | -118M | -216M | -1.39B | -2.43B | -1.7B | -2.02B | -1.66B | -1.71B |
| Pretax Income | 2.67B▲ 0% | 3.21B▲ 20.3% | 3.06B▼ 4.6% | -10.25B▼ 435.1% | -9.52B▲ 7.1% | -6.08B▲ 36.1% | -62M▲ 99.0% | 1.92B▲ 3188.7% | 2.77B▲ 44.8% |
| Pretax Margin % | 15.23% | 16.99% | 14.69% | -183.29% | -499.06% | -49.96% | -0.29% | 7.65% | 10.41% |
| Income Tax | 60M | 54M | 71M | -17M | -21M | 14M | 13M | -1M | 12M |
| Effective Tax Rate % | 2.25% | 1.68% | 2.32% | 0.17% | 0.22% | -0.23% | -20.97% | -0.05% | 0.43% |
| Net Income | 2.61B▲ 0% | 3.15B▲ 21.0% | 2.99B▼ 5.1% | -10.24B▼ 442.3% | -9.5B▲ 7.2% | -6.09B▲ 35.9% | -74M▲ 98.8% | 1.92B▲ 2689.2% | 2.76B▲ 44.1% |
| Net Margin % | 14.88% | 16.69% | 14.36% | -182.98% | -497.96% | -50.07% | -0.34% | 7.66% | 10.37% |
| Net Income Growth % | -6.23% | 20.95% | -5.14% | -442.34% | 7.18% | 35.87% | 98.79% | 2689.19% | 44.05% |
| Net Income (Continuing) | 2.61B | 3.15B | 2.99B | -10.24B | -9.5B | -6.09B | -75M | 1.92B | 2.76B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.59▲ 0% | 4.44▲ 23.7% | 4.32▼ 2.7% | -13.20▼ 405.6% | -8.46▲ 35.9% | -5.16▲ 39.0% | -0.06▲ 98.9% | 1.44▲ 2557.3% | 2.02▲ 40.3% |
| EPS Growth % | -3.49% | 23.68% | -2.7% | -405.56% | 35.91% | 39.01% | 98.86% | 2557.34% | 40.28% |
| EPS (Basic) | 3.61 | 4.45 | 4.34 | -13.20 | -8.46 | -5.16 | -0.06 | 1.50 | 2.10 |
| Diluted Shares Outstanding | 725M | 710M | 692M | 775M | 1.12B | 1.18B | 1.26B | 1.4B | 1.4B |
| Basic Shares Outstanding | 723M | 709M | 690M | 775M | 1.12B | 1.18B | 1.26B | 1.27B | 1.31B |
| Dividend Payout Ratio | 41.71% | 42.99% | 46.39% | - | - | - | - | - | - |
Carnival Corporation & plc (CCL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Nov'17 | Nov'18 | Nov'19 | Nov'20 | Nov'21 | Nov'22 | Nov'23 | Nov'24 | Nov'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.6B | 2.23B | 2.06B | 10.56B | 10.13B | 7.49B | 5.27B | 3.38B | 4.22B |
| Cash & Short-Term Investments | 395M | 982M | 518M | 9.51B | 9.14B | 4.03B | 2.42B | 1.21B | 1.93B |
| Cash Only | 395M | 982M | 518M | 9.51B | 8.94B | 4.03B | 2.42B | 1.21B | 1.93B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 200M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 312M | 358M | 444M | 273M | 246M | 395M | 556M | 590M | 678M |
| Days Sales Outstanding | 6.5 | 6.92 | 7.78 | 17.81 | 47.06 | 11.85 | 9.4 | 8.61 | 9.3 |
| Inventory | 387M | 450M | 427M | 335M | 356M | 428M | 528M | 507M | 505M |
| Days Inventory Outstanding | 13.45 | 14.81 | 12.07 | 14.83 | 27.91 | 13.29 | 13.46 | 11.83 | 9.84 |
| Other Current Assets | 0 | -1M | -1M | -1M | 13M | 1.99B | 1.77B | 1.07B | 1.11B |
| Total Non-Current Assets | 39.18B | 40.17B | 43B | 43.03B | 43.21B | 44.21B | 43.85B | 45.68B | 47.47B |
| Property, Plant & Equipment | 34.43B | 35.34B | 38.13B | 39.44B | 39.44B | 39.96B | 41.38B | 43.16B | 44.82B |
| Fixed Asset Turnover | 0.51x | 0.53x | 0.55x | 0.14x | 0.05x | 0.30x | 0.52x | 0.58x | 0.59x |
| Goodwill | 2.97B | 2.92B | 2.91B | 807M | 579M | 579M | 579M | 579M | 579M |
| Intangible Assets | 1.2B | 1.18B | 1.17B | 1.19B | 1.18B | 1.16B | 1.17B | 1.16B | 1.18B |
| Long-Term Investments | 0 | 244M | 204M | 289M | 0 | 1M | 149M | 184M | 221M |
| Other Non-Current Assets | 585M | 494M | 579M | 1.3B | 2.01B | 2.51B | 576M | 591M | 669M |
| Total Assets | 40.78B▲ 0% | 42.4B▲ 4.0% | 45.06B▲ 6.3% | 53.59B▲ 18.9% | 53.34B▼ 0.5% | 51.7B▼ 3.1% | 49.12B▼ 5.0% | 49.06B▼ 0.1% | 51.69B▲ 5.4% |
| Asset Turnover | 0.43x | 0.45x | 0.46x | 0.10x | 0.04x | 0.24x | 0.44x | 0.51x | 0.52x |
| Asset Growth % | 4.73% | 3.98% | 6.27% | 18.94% | -0.46% | -3.08% | -5% | -0.13% | 5.36% |
| Total Current Liabilities | 8.8B | 9.2B | 9.13B | 8.69B | 10.41B | 10.61B | 11.48B | 11.62B | 13.09B |
| Accounts Payable | 762M | 730M | 756M | 624M | 797M | 1.05B | 1.17B | 1.13B | 1.25B |
| Days Payables Outstanding | 26.49 | 24.03 | 21.38 | 27.62 | 62.49 | 32.6 | 29.78 | 26.44 | 24.25 |
| Short-Term Debt | 2.2B | 2.43B | 1.83B | 4.83B | 4.72B | 2.59B | 2.09B | 1.54B | 2.6B |
| Deferred Revenue (Current) | 3.96B | 4.39B | 4.74B | 1.94B | 3.11B | 4.87B | 6.07B | 6.42B | 0 |
| Other Current Liabilities | 1M | 18M | 0 | 1M | -1M | 0 | 0 | 0 | 9.07B |
| Current Ratio | 0.18x | 0.24x | 0.23x | 1.22x | 0.97x | 0.71x | 0.46x | 0.29x | 0.32x |
| Quick Ratio | 0.14x | 0.19x | 0.18x | 1.18x | 0.94x | 0.67x | 0.41x | 0.25x | 0.28x |
| Cash Conversion Cycle | -6.53 | -2.3 | -1.52 | 5.02 | 12.48 | -7.46 | -6.92 | -6 | -5.12 |
| Total Non-Current Liabilities | 7.76B | 8.75B | 10.57B | 24.35B | 30.79B | 34.03B | 30.76B | 28.19B | 26.31B |
| Long-Term Debt | 6.99B | 7.9B | 9.68B | 22.13B | 28.51B | 31.95B | 28.48B | 25.94B | 24.04B |
| Capital Lease Obligations | 0 | 0 | 0 | 1.27B | 1.24B | 1.19B | 1.17B | 1.24B | 1.18B |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 769M | 857M | 891M | 949M | 1.04B | 892M | 1.1B | 1.01B | 1.1B |
| Total Liabilities | 16.56B | 17.96B | 19.69B | 33.04B | 41.2B | 44.64B | 42.24B | 39.81B | 39.4B |
| Total Debt | 9.2B | 10.32B | 11.5B | 28.38B | 34.61B | 35.88B | 31.89B | 28.88B | 27.99B |
| Net Debt | 8.8B | 9.34B | 10.98B | 18.87B | 25.67B | 31.85B | 29.48B | 27.67B | 26.07B |
| Debt / Equity | 0.38x | 0.42x | 0.45x | 1.38x | 2.85x | 5.08x | 4.63x | 3.12x | 2.28x |
| Debt / EBITDA | 1.98x | 1.93x | 2.12x | - | - | - | 7.37x | 4.71x | 3.85x |
| Net Debt / EBITDA | 1.89x | 1.75x | 2.02x | - | - | - | 6.81x | 4.51x | 3.58x |
| Interest Coverage | 14.19x | 17.14x | 15.90x | -9.91x | -4.43x | -2.72x | 0.95x | 2.04x | 3.32x |
| Total Equity | 24.22B▲ 0% | 24.44B▲ 0.9% | 25.36B▲ 3.8% | 20.55B▼ 19.0% | 12.14B▼ 40.9% | 7.06B▼ 41.8% | 6.88B▼ 2.6% | 9.25B▲ 34.4% | 12.28B▲ 32.8% |
| Equity Growth % | 7.16% | 0.94% | 3.77% | -18.96% | -40.91% | -41.84% | -2.58% | 34.44% | 32.77% |
| Book Value per Share | 33.40 | 34.43 | 36.65 | 26.52 | 10.81 | 5.99 | 5.45 | 6.62 | 8.76 |
| Total Shareholders' Equity | 24.22B | 24.44B | 25.36B | 20.55B | 12.14B | 7.06B | 6.88B | 9.25B | 12.28B |
| Common Stock | 365M | 365M | 365M | 372M | 372M | 373M | 373M | 374M | 374M |
| Retained Earnings | 23.29B | 25.07B | 26.65B | 16.07B | 6.45B | 269M | 185M | 2.1B | 4.82B |
| Treasury Stock | -6.35B | -7.79B | -8.39B | -8.4B | -8.47B | -8.47B | -8.45B | -8.4B | -8.36B |
| Accumulated OCI | -1.78B | -1.95B | -2.07B | -1.44B | -1.5B | -1.98B | -1.94B | -1.97B | -1.81B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Carnival Corporation & plc (CCL) cash flow — operating, investing & free cash flow history
| Line item | Nov'17 | Nov'18 | Nov'19 | Nov'20 | Nov'21 | Nov'22 | Nov'23 | Nov'24 | Nov'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 5.32B | 5.55B | 5.47B | -6.3B | -4.11B | -1.67B | 4.28B | 5.92B | 6.22B |
| Operating CF Margin % | 30.39% | 29.39% | 26.29% | -112.64% | -215.36% | -13.72% | 19.83% | 23.67% | 23.36% |
| Operating CF Growth % | 3.66% | 4.27% | -1.33% | -215.09% | 34.79% | 59.36% | 356.35% | 38.36% | 4.98% |
| Net Income | 2.61B | 3.15B | 2.99B | -10.24B | -9.5B | -6.09B | -74M | 1.92B | 2.76B |
| Depreciation & Amortization | 1.85B | 2.02B | 2.16B | 2.24B | 2.23B | 2.27B | 2.37B | 2.56B | 2.79B |
| Stock-Based Compensation | 63M | 65M | 46M | 105M | 121M | 101M | 53M | 62M | 98M |
| Deferred Taxes | 357M | -43M | 26M | 4.61B | 1.63B | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 51M | -6M | 41M | 170M | 449M | 884M | 407M | 428M | 715M |
| Working Capital Changes | 399M | 364M | 212M | -3.19B | 958M | 1.16B | 1.52B | 960M | -145M |
| Change in Receivables | 6M | -58M | -368M | -395M | -7M | -171M | -180M | -49M | -84M |
| Change in Inventory | -49M | -67M | 79M | 77M | -63M | -95M | -85M | 9M | 2M |
| Change in Payables | 21M | -24M | 34M | -165M | 206M | 283M | 77M | -26M | 61M |
| Cash from Investing | -3.09B | -3.51B | -5.28B | -3.24B | -3.54B | -4.77B | -2.81B | -4.54B | -3.32B |
| Capital Expenditures | -2.94B | -3.75B | -5.43B | -3.62B | -3.61B | -4.94B | -3.28B | -4.63B | -3.61B |
| CapEx % of Revenue | 16.81% | 19.86% | 26.07% | 64.71% | 189.05% | 40.59% | 15.21% | 18.49% | 13.56% |
| Acquisitions | 0 | -135M | 26M | -81M | -90M | -1M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 58M | 428M | 158M | 127M | 351M | -26M | 474M | 91M | 290M |
| Cash from Financing | -2.45B | -1.46B | -655M | 18.65B | 6.95B | 3.58B | -5.09B | -2.58B | -2.19B |
| Debt Issued (Net) | -789M | 1.4B | 1.42B | 16.25B | 7.09B | 2.54B | -4.9B | -2.34B | -1.93B |
| Equity Issued (Net) | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 0 | 0 |
| Dividends Paid | -1.09B | -1.35B | -1.39B | -689M | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -552M | -1.47B | -603M | -12M | -188M | 0 | 0 | 0 | 0 |
| Other Financing | -24M | -43M | -87M | -149M | 51M | -147M | -195M | -243M | -261M |
| Net Change in Cash | -208M▲ 0% | 574M▲ 376.0% | -466M▼ 181.2% | 9.16B▲ 2066.1% | -716M▼ 107.8% | -2.94B▼ 310.5% | -3.6B▼ 22.5% | -1.2B▲ 66.6% | 718M▲ 159.6% |
| Free Cash Flow | 2.38B▲ 0% | 1.8B▼ 24.3% | 46M▼ 97.4% | -9.92B▼ 21667.4% | -7.72B▲ 22.2% | -6.61B▲ 14.3% | 997M▲ 115.1% | 1.3B▲ 30.1% | 2.61B▲ 101.0% |
| FCF Margin % | 13.58% | 9.53% | 0.22% | -177.35% | -404.4% | -54.32% | 4.62% | 5.18% | 9.79% |
| FCF Growth % | 14.77% | -24.31% | -97.44% | -21667.39% | 22.23% | 14.33% | 115.08% | 30.09% | 101% |
| FCF per Share | 3.28 | 2.54 | 0.07 | -12.80 | -6.87 | -5.60 | 0.79 | 0.93 | 1.86 |
| FCF Conversion (FCF/Net Income) | 2.04x | 1.76x | 1.83x | 0.62x | 0.43x | 0.27x | -57.85x | 3.09x | 2.25x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Carnival Corporation & plc (CCL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 11.99% | 11.13% | 12.96% | 12.01% | -44.58% | -58.11% | -63.44% | -1.06% | 23.75% | 25.63% |
| Return on Invested Capital (ROIC) | 7.36% | 6.54% | 7.47% | 7.01% | -17.55% | -13.77% | -8.56% | 3.9% | 7.32% | 8.93% |
| Gross Margin | 42.75% | 40.03% | 41.27% | 38.01% | -47.39% | -143.97% | 3.39% | 33.7% | 37.5% | 29.62% |
| Net Margin | 16.96% | 14.88% | 16.69% | 14.36% | -182.98% | -497.96% | -50.07% | -0.34% | 7.66% | 10.37% |
| Debt / Equity | 0.42x | 0.38x | 0.42x | 0.45x | 1.38x | 2.85x | 5.08x | 4.63x | 3.12x | 2.28x |
| Interest Coverage | 13.77x | 14.19x | 17.14x | 15.90x | -9.91x | -4.43x | -2.72x | 0.95x | 2.04x | 3.32x |
| FCF Conversion | 1.85x | 2.04x | 1.76x | 1.83x | 0.62x | 0.43x | 0.27x | -57.85x | 3.09x | 2.25x |
| Revenue Growth | 4.3% | 6.84% | 7.82% | 10.3% | -73.14% | -65.89% | 537.79% | 77.44% | 15.88% | 6.4% |
Carnival Corporation & plc (CCL) SEC filings — annual & quarterly reports (10-K, 10-Q)
Mar 27, 2026·SEC
Feb 20, 2026·SEC
Feb 12, 2026·SEC
Carnival Corporation & plc (CCL) stock FAQ — growth, dividends, profitability & financials explained
Carnival Corporation & plc (CCL) reported $26.62B in revenue for fiscal year 2025. This represents a 1103% increase from $2.21B in 1996.
Carnival Corporation & plc (CCL) grew revenue by 6.4% over the past year. This is steady growth.
Yes, Carnival Corporation & plc (CCL) is profitable, generating $2.76B in net income for fiscal year 2025 (10.4% net margin).
Carnival Corporation & plc (CCL) has a return on equity (ROE) of 25.6%. This is excellent, indicating efficient use of shareholder capital.
Carnival Corporation & plc (CCL) generated $2.61B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Carnival Corporation & plc (CCL) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates