Sunday 1 November 2026 Export CCL’s income statement to Excel — free account

Carnival Corporation

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: +0.06%
Free cash flow: −3.26%
Total debt: −9.70%

Quarter to August 2026, against a year earlier

28.83 0.01 −0.03%

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Market cap: $38.8B
P/E: 12.5×
Fwd P/E: 13.1×
Dividend yield: 2.07%
F-score: 8/9
Altman Z: 1.24
Beneish M: −2.69
Dividend safety: 56/100

Overview Business Profile Earnings & Analysis Segments Filings

Carnival Corporation (CCL) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
North America Segment	17,604	66.13%
Europe Segment	8,467	31.80%
Cruise Support	309	1.16%
Tour And Other	241	0.91%
Gross margin		40.10%
Operating margin		16.84%
Pre-tax margin		10.41%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Passenger ticket	17,419 65.43%	16,463 65.80%	14,067 65.15%	7,022 57.71%	1,000 52.41%	3,684 65.84%	14,104 67.73%	13,930 73.78%	12,944 73.92%	12,090 73.77%
Onboard and other	9,202 34.57%	8,558 34.20%	7,526 34.85%	5,147 42.30%	908 47.59%	1,910 34.14%	6,721 32.27%	4,950 26.22%	4,330 24.73%	4,068 24.82%
Tour And Other	—	—	—	—	—	—	—	—	236 1.35%	231 1.41%
Revenue	26,622	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
North America Segment	17,604 66.13%	16,802 67.15%	14,588 67.56%	8,281 68.06%	1,108 58.07%	3,627 64.83%	13,612 65.36%	12,236 64.81%	11,442 65.35%	10,563 64.45%	9,866 62.78%	9,559 60.18%
Europe Segment	8,467 31.80%	7,710 30.81%	6,535 30.26%	3,531 29.02%	712 37.32%	1,790 31.99%	6,650 31.93%	6,243 33.06%	5,703 32.57%	5,464 33.34%	5,636 35.87%	6,148 38.71%
Cruise Support	309 1.16%	255 1.02%	206 0.95%	171 1.41%	42 2.20%	68 1.22%	173 0.83%	129 0.68%	129 0.74%	131 0.80%	119 0.76%	90 0.57%
Tour And Other	241 0.91%	255 1.02%	265 1.23%	185 1.52%	46 2.41%	110 1.97%	390 1.87%	272 1.44%	236 1.35%	231 1.41%	226 1.44%	215 1.35%
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	(128) (0.81%)
Eliminations	—	—	—	—	—	—	—	—	—	—	(133) (0.85%)	—
Revenue	26,622	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389	15,714	15,884

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
North America Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Europe Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Tour And Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Cruise Support	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
United States	14,847 55.77%	14,061 56.20%	12,253 56.75%	—	—	—	—	—	—	—	—	—
All Other Geographic Areas	5,374 20.19%	5,157 20.61%	4,406 20.40%	132 1.08%	31 1.62%	180 3.22%	373 1.79%	327 1.73%	297 1.70%	302 1.84%	310 1.97%	349 2.20%
Germany	3,348 12.58%	3,063 12.24%	2,651 12.28%	—	—	—	—	—	—	—	—	—
United Kingdom	3,054 11.47%	2,740 10.95%	2,284 10.58%	—	—	—	—	—	—	—	—	—
North America	—	—	—	7,866 64.64%	1,066 55.87%	3,084 55.12%	11,502 55.23%	10,066 53.31%	9,195 52.51%	8,327 50.81%	8,015 51.01%	7,762 48.87%
Europe	—	—	—	3,918 32.20%	811 42.51%	1,643 29.37%	6,318 30.34%	5,957 31.55%	5,414 30.92%	5,254 32.06%	5,133 32.67%	5,676 35.73%
Australia	—	—	—	252 2.07%	0 0.00%	—	—	—	—	—	—	—
Australia And Asia	—	—	—	—	—	687 12.28%	2,632 12.64%	2,530 13.40%	2,604 14.87%	2,506 15.29%	2,256 14.36%	2,097 13.20%
Revenue	26,622	25,021	21,593	12,168	1,908	5,595	20,825	18,881	17,510	16,389	15,714	15,884

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
ALBDs	Q3 FY2026	24.9M	24.6M	+1.22%
Fuel consumption in metric tons	Q3 FY2026	700.0K	700.0K	0.00%
Fuel consumption in metric tons per thousand ALBDs	Q3 FY2026	26.9×	28.0×	−3.93%
Passenger cruise days (PCDs)	Q3 FY2026	27.9M	27.5M	+1.45%
Passengers carried	Q3 FY2026	3.9M	3.8M	+2.63%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
ALBDs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fuel consumption in metric tons	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fuel consumption in metric tons per thousand ALBDs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Passenger cruise days (PCDs)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Passengers carried	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.