Skip to content
MARKETS / NYSE / CCL
NYSE · WATER TRANSPORTATION · LARGE CAP

Carnival Corp. Ltd. CCL

19 fiscal years on record · USD · FY2025 reported · SEC filings only
4 YEARS OF DIVIDEND GROWTH
$26.6B
▲ 6.4% YoY
$2.8B
▲ 44.1% YoY
$2.6B
▲ 101.0% YoY
In brief

What this company does

The company operates a portfolio of cruise lines: AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn. The company serves over 13.5 million guests each year. It has a team of more than 160,000 individuals from approximately 150 countries. As of November 30, 2025, it had a total of seven cruise ships expected to be delivered through 2033. Carnival Corporation was incorporated in Panama in 1974, and Carnival plc was incorporated in England and Wales in 2000.

Written from the business description in Carnival Corporation Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 27 January 2026. Every sentence was checked against that document before publication.

Growth
USD 26.6B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 26.6 · Net income 2.8
10B20B-4B-8B2007201020132016201920222025
Compound annual growth
+29.8%
+36.6%
+5.4%
+4.6%
+2.2%
+21.0%
+14.3%
+2.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +36.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
10 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 16.8% · Net 10.4%
-200%-400%2007201020132016201920222025
ROE
FY2025 · ROE 25.6%
10%20%-20%-40%-60%2007201020132016201920222025

Each USD of equity produced 26 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 2.6
1B2B-4B-8B2007201020132016201920222025
Net buybacks $B Dividends $B
FY2022 · Dividends 0.0 · Net buybacks -1.2
2B-2BDividendsNet buybacks200720092011201320152017201920212022

Total assetsUSD 51.7B
EquityUSD 12.3B
CashUSD 1.9B
Gross debtUSD 26.6B
Net debtUSD 24.7B
Current ratio0.32×

Net debt stands at 201% of equity.

The 19-year record
19 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B26.625.021.612.21.95.620.818.917.516.415.715.9····13.214.613.0
Operating income $B4.53.62.0−4.4−7.1−8.93.33.32.83.12.61.81.31.62.32.32.22.72.7
EBITDA $B···················
Income tax $B0.0−0.00.00.0−0.0−0.00.10.10.1−0.00.00.0−0.00.00.00.00.00.00.0
Net income $B2.81.9−0.1−6.1−9.5−10.23.03.22.62.81.81.21.11.31.92.01.82.32.4
Free cash flow $B2.61.31.0−6.6−7.7−9.90.01.82.42.12.30.80.70.71.10.2−0.00.00.8
EPS, diluted $2.021.44−0.06−5.16−8.46−13.204.324.443.593.722.261.561.361.672.422.472.242.902.95
Dividend / sh $·······1.951.601.351.101.001.001.501.000.400.001.601.38
Payout %···−0−0−7464342354664110603512185441
ROE %25.623.8−1.1−63.4−58.1−44.612.013.011.112.07.35.04.45.48.28.88.711.912.0

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 73 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 9 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityWater Transportation
Listed onNYSE
Incorporated inoutside the United States — SEC code D0
Fiscal year endsNovember 30
Data on record since2007

Share this section

Download image