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) Return on equity
Carnival Corporation's return on equity over the twelve months to 31 August 2026 was 24.0%, down 1.6 percentage points from fiscal 2025 (25.6%). Over the past ten years it has ranged from −63.4% (fiscal 2022) to 25.6% (fiscal 2025) — the current reading is the highest in ten years. That is above the Travel Services industry median of 8.82% and above the Consumer Cyclical sector median of 3.64%.
Return on equity, annual
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Annual newest first
| Period | Return on equity | Change (points) |
|---|---|---|
| FY2025 | 25.6% | 1.88 |
| FY2024 | 23.8% | 24.81 |
| FY2023 | −1.06% | 62.38 |
| FY2022 | −63.4% | (5.33) |
| FY2021 | −58.1% | (13.53) |
| FY2020 | −44.6% | (56.59) |
| FY2019 | 12.0% | (0.95) |
| FY2018 | 13.0% | 1.83 |
| FY2017 | 11.1% | (0.86) |
| FY2016 | 12.0% | 4.67 |
Against its own ten years
Return on equity against peers
| Company | Return on equity |
|---|---|
| MMYT MakeMyTrip Limited compare | 2,808.0% |
| VIK Viking Holdings Ltd. compare | 194.5% |
| EXPE Expedia Group, Inc. compare | 89.4% |
| RCL Royal Caribbean Cruises Ltd. compare | 44.4% |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | 36.7% |
| ABNB Airbnb, Inc. compare | 34.5% |
| CCL Carnival Corporation | 24.0% |
| TCOM Trip.com Group Limited Sponsored ADR compare | 0.00% |
| BKNG Booking Holdings Inc. compare | −82.7% |
| Travel Services industry median | 8.82% |
| Consumer Cyclical sector median | 3.64% |
| Market median | 1.35% |
What Return on equity is
ROE shows how much profit a company earns for its shareholders on the equity they have in the business.
Annual: Net Income Allotted to Shareholders ÷ Average Common Equity; TTM: Net Income Allotted to Shareholders ÷ Average Common Equity (latest quarter)
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