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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Carnival Corporation (CCL) EBITDA
Carnival Corporation's EBITDA for fiscal 2025 was $7.4B, up 17.8% from $6.3B in fiscal 2024. Over the twelve months to 31 August 2026 it was $7.4B. Over the past ten years it has ranged from −$6.5B (fiscal 2020) to $7.4B (fiscal 2025) — the current reading is the highest in ten years. EBITDA has risen for 5 consecutive fiscal years. Carnival Corporation ranks 2nd of 17 Travel Services companies by EBITDA.
EBITDA, annual
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Annual newest first
| Period | EBITDA | Change |
|---|---|---|
| FY2025 | $7.4B | 17.83% |
| FY2024 | $6.3B | 39.76% |
| FY2023 | $4.5B | — |
| FY2022 | −$1.9B | — |
| FY2021 | −$4.7B | — |
| FY2020 | −$6.5B | — |
| FY2019 | $5.5B | 2.21% |
| FY2018 | $5.3B | 14.74% |
| FY2017 | $4.7B | (3.20%) |
| FY2016 | $4.8B | 14.50% |
Quarterly newest first
| Period | EBITDA | Change |
|---|---|---|
| Aug 2026 | $3.0B | 87.20% |
| May 2026 | $1.6B | 20.54% |
| Feb 2026 | $1.3B | (10.75%) |
| Nov 2025 | $1.5B | (50.66%) |
| 43 more quarters | Free account |
Against its own ten years
EBITDA against peers
| Company | EBITDA |
|---|---|
| BKNG Booking Holdings Inc. compare | $9.9B |
| CCL Carnival Corporation | $7.4B |
| RCL Royal Caribbean Cruises Ltd. compare | $7.0B |
| EXPE Expedia Group, Inc. compare | $3.8B |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | $2.8B |
| ABNB Airbnb, Inc. compare | $2.7B |
| VIK Viking Holdings Ltd. compare | $1.9B |
| TCOM Trip.com Group Limited Sponsored ADR compare | $1.5B |
| MMYT MakeMyTrip Limited compare | $159.3M |
What EBITDA is
EBITDA shows what a company earns from its operations before interest, taxes and the non-cash charges for depreciation and amortization.
Reported line item
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- Revenue
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- P/E ratio
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- P/B ratio
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