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Friday 6 November 2026 Export CCL’s income statement to Excel — free account

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.

Revenue
+3.46%
EPS
0.00%
Free cash flow
−3.26%
Total debt
−9.70%

Quarter to August 2026, against a year earlier

29.59 1.73 −5.52%
Market cap
$39.8B
P/E
12.8×
Fwd P/E
13.1×
Dividend yield
2.03%
F-score
8/9
Altman Z
1.24
Beneish M
−2.69
Dividend safety
56/100
Overview Business Profile Earnings & Analysis
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Carnival Corporation (CCL) Gross margin

Alert me on Gross margin

Carnival Corporation's gross margin over the twelve months to 31 August 2026 was 39.5%, down 0.6 percentage points from fiscal 2025 (40.1%). Over the past ten years it has ranged from −113.0% (fiscal 2021) to 42.8% (fiscal 2016); the current reading is higher than 82% of that period. That is below the Travel Services industry median of 52.2% and above the Consumer Cyclical sector median of 34.3%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 40.1% 2.60
FY2024 37.5% 3.80
FY2023 33.7% 26.71
FY2022 6.99% 119.94
FY2021 −113.0% (100.74)
FY2020 −12.2% (50.35)
FY2019 38.1% (3.21)
FY2018 41.4% 1.32
FY2017 40.0% (2.72)
FY2016 42.8% 2.87

Quarterly newest first

Period Gross margin Change (points)
Aug 2026 45.1% 8.54
May 2026 36.6% 0.48
Feb 2026 36.1% (2.13)
Nov 2025 38.2% (7.98)
43 more quarters

Against its own ten years

Low −113.0% High 42.8%
Ten-year median 38.1%
Current reading's percentile 56

Gross margin against peers

Company Gross margin
BKNG Booking Holdings Inc. compare 100.0%
EXPE Expedia Group, Inc. compare 90.5%
ABNB Airbnb, Inc. compare 83.1%
TCOM Trip.com Group Limited Sponsored ADR compare 80.1%
MMYT MakeMyTrip Limited compare 77.3%
RCL Royal Caribbean Cruises Ltd. compare 49.1%
VIK Viking Holdings Ltd. compare 43.2%
NCLH Norwegian Cruise Line Holdings Ltd. compare 41.4%
CCL Carnival Corporation 39.5%
Travel Services industry median 52.2%
Consumer Cyclical sector median 34.3%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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