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) Net margin
Carnival Corporation's net margin over the twelve months to 31 August 2026 was 11.4%, up 1.0 percentage points from fiscal 2025 (10.4%). Over the past ten years it has ranged from −498.0% (fiscal 2021) to 17.0% (fiscal 2016); the current reading is higher than 55% of that period. That is above the Travel Services industry median of 7.49% and above the Consumer Cyclical sector median of 1.67%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 10.4% | 2.71 |
| FY2024 | 7.66% | 8.00 |
| FY2023 | −0.34% | 49.73 |
| FY2022 | −50.1% | 447.89 |
| FY2021 | −498.0% | (315.01) |
| FY2020 | −183.0% | (197.31) |
| FY2019 | 14.4% | (2.33) |
| FY2018 | 16.7% | 1.81 |
| FY2017 | 14.9% | (2.08) |
| FY2016 | 17.0% | 5.78 |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Aug 2026 | 22.8% | 14.70 |
| May 2026 | 8.06% | 3.88 |
| Feb 2026 | 4.18% | (2.47) |
| Nov 2025 | 6.65% | (16.07) |
| 43 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| TCOM Trip.com Group Limited Sponsored ADR compare | 36.4% |
| BKNG Booking Holdings Inc. compare | 25.5% |
| RCL Royal Caribbean Cruises Ltd. compare | 23.5% |
| ABNB Airbnb, Inc. compare | 20.5% |
| VIK Viking Holdings Ltd. compare | 19.3% |
| EXPE Expedia Group, Inc. compare | 13.0% |
| CCL Carnival Corporation | 11.4% |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | 7.49% |
| MMYT MakeMyTrip Limited compare | 3.23% |
| Travel Services industry median | 7.49% |
| Consumer Cyclical sector median | 1.67% |
| Market median | 0.45% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
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