Carnival Corporation
CCL Consumer Cyclical Travel Services
Carnival Corporation’s revenue for fiscal 2025 (year ended November 2025) was $26.6 billion, up 6.40% from fiscal 2024. In the quarter to August 2026, revenue grew 3.46%, EPS was flat, free cash flow fell 3.26% and total debt fell 9.70%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years, operating cash flow growth for five.
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A Balance Sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It follows the formula: Assets = Liabilities + Shareholders' Equity. Key components include current and non-current assets, current and long-term liabilities, and equity. The Balance Sheet helps businesses and investors evaluate financial stability, liquidity, and capital structure. It's essential for assessing the company's ability to meet its obligations and fund future operations.
| Nov '16 | Nov '17 | Nov '18 | Nov '19 | Nov '20 | Nov '21 | Nov '22 | Nov '23 | Nov '24 | Nov '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Cash and Short Term Investments |
603.00 | 395.00 | 982.00 | 518.00 | 9,513.00 | 9,153.00 | 6,017.00 | 2,415.00 | 1,210.00 | 1,928.00 |
Receivables |
298.00 | 312.00 | 358.00 | 444.00 | 273.00 | 246.00 | 395.00 | 556.00 | 590.00 | 678.00 |
Inventory |
322.00 | 387.00 | 450.00 | 427.00 | 335.00 | 356.00 | 428.00 | 528.00 | 507.00 | 505.00 |
Total current assets |
1,689.00 | 1,596.00 | 2,225.00 | 2,059.00 | 10,563.00 | 10,133.00 | 7,492.00 | 5,266.00 | 3,378.00 | 4,219.00 |
Property, Plant, Equpment (Net) |
32,429.00 | 34,430.00 | 35,336.00 | 38,131.00 | 38,073.00 | 38,107.00 | 38,687.00 | 40,116.00 | 41,795.00 | 43,494.00 |
Goodwill and Intangible Assets (Total) |
4,185.00 | 4,167.00 | 4,101.00 | 4,086.00 | 1,993.00 | 1,760.00 | 1,735.00 | 1,748.00 | 1,742.00 | 1,756.00 |
Long-term assets (Other) |
578.00 | 585.00 | 738.00 | 783.00 | 1,594.00 | 2,011.00 | 2,515.00 | 725.00 | 775.00 | 890.00 |
Total non-current assets |
37,192.00 | 39,182.00 | 40,175.00 | 43,000.00 | 43,030.00 | 43,211.00 | 44,211.00 | 43,854.00 | 45,680.00 | 47,468.00 |
Total Assets |
38,881.00 | 40,778.00 | 42,401.00 | 45,058.00 | 53,593.00 | 53,344.00 | 51,703.00 | 49,120.00 | 49,057.00 | 51,687.00 |
Notes Payable |
457.00 | 485.00 | 848.00 | 231.00 | 3,084.00 | 2,790.00 | 200.00 | — | — | — |
Accounts Payable |
713.00 | 762.00 | 730.00 | 756.00 | 624.00 | 797.00 | 1,050.00 | 1,168.00 | 1,133.00 | 1,245.00 |
Accrued Expenses |
1,740.00 | 1,877.00 | 1,654.00 | 1,809.00 | 1,144.00 | 1,641.00 | 1,942.00 | 2,003.00 | 2,358.00 | 2,239.00 |
Current Part of Debt |
640.00 | 1,717.00 | 1,578.00 | 1,596.00 | 1,742.00 | 1,927.00 | 2,393.00 | 2,089.00 | 1,538.00 | 2,603.00 |
Other current liabilities |
3,522.00 | 3,958.00 | 4,395.00 | 4,735.00 | 1,940.00 | 3,112.00 | 4,874.00 | 6,072.00 | 6,425.00 | 6,831.00 |
Total current liabilities |
7,072.00 | 8,800.00 | 9,204.00 | 9,127.00 | 8,686.00 | 10,408.00 | 10,605.00 | 11,481.00 | 11,617.00 | 13,092.00 |
Long Term Debt (Total) |
8,302.00 | 6,993.00 | 7,897.00 | 9,675.00 | 22,130.00 | 28,509.00 | 31,953.00 | 28,483.00 | 25,936.00 | 24,037.00 |
Non-current Liabilities (Other) |
910.00 | 769.00 | 856.00 | 890.00 | 949.00 | 1,043.00 | 891.00 | 1,105.00 | 1,012.00 | 1,097.00 |
Total non-current liabilities |
9,212.00 | 7,762.00 | 8,753.00 | 10,565.00 | 24,352.00 | 30,791.00 | 34,033.00 | 30,758.00 | 28,187.00 | 26,312.00 |
Total liabilities |
16,284.00 | 16,562.00 | 17,958.00 | 19,693.00 | 33,038.00 | 41,200.00 | 44,638.00 | 42,238.00 | 39,806.00 | 39,403.00 |
Additional Paid In Capital |
8,632.00 | 8,690.00 | 8,756.00 | 8,807.00 | 13,948.00 | 15,292.00 | 16,872.00 | 16,712.00 | 17,155.00 | 17,267.00 |
Common Stock (Net) |
365.00 | 365.00 | 365.00 | 365.00 | 372.00 | 372.00 | 373.00 | 373.00 | 374.00 | 374.00 |
Retained Earnings |
21,843.00 | 23,292.00 | 25,066.00 | 26,653.00 | 16,075.00 | 6,448.00 | 269.00 | 185.00 | 2,101.00 | 4,817.00 |
Treasury Stock |
5,789.00 | 6,349.00 | 7,795.00 | 8,394.00 | 8,404.00 | 8,466.00 | 8,468.00 | 8,449.00 | 8,404.00 | 8,364.00 |
Common Equity (Total) |
22,597.00 | 24,216.00 | 24,443.00 | 25,365.00 | 20,555.00 | 12,145.00 | 7,064.00 | 6,882.00 | 9,251.00 | 12,284.00 |
Shareholders Equity (Total) |
22,597.00 | 24,216.00 | 24,443.00 | 25,365.00 | 20,555.00 | 12,144.00 | 7,065.00 | 6,882.00 | 9,251.00 | 12,284.00 |
Shareholders Equity and Liabilities (Total) |
38,881.00 | 40,778.00 | 42,401.00 | 45,058.00 | 53,593.00 | 53,344.00 | 51,703.00 | 49,120.00 | 49,057.00 | 51,687.00 |
Shares (Common) |
726.00 | 718.00 | 696.00 | 684.00 | 1,087.00 | 1,136.00 | 1,259.00 | 1,264.00 | 1,236.00 | 1,312.00 |
Shareholders Equity (Tangible) |
18,412.00 | 20,049.00 | 20,342.00 | 21,279.00 | 18,562.00 | 10,384.00 | 5,330.00 | 5,134.00 | 7,509.00 | 10,528.00 |
Net Debt |
8,339.00 | 8,315.00 | 8,493.00 | 10,753.00 | 14,359.00 | 21,283.00 | 28,329.00 | 28,157.00 | 26,264.00 | 24,712.00 |
Total Debt |
8,942.00 | 8,710.00 | 9,475.00 | 11,271.00 | 23,872.00 | 30,436.00 | 34,346.00 | 30,572.00 | 27,474.00 | 26,640.00 |