Carnival Corp (CCL) Financial Statements
Industry: Water Transportation
In fiscal 2025, Carnival reported revenue of $26.62B, up 6.4% from $25.02B the year before. Net income was $2.76B (a 10.4% net margin), or $2.02 per diluted share. Operating margin was 16.8%. Operating activities generated $6.22B of cash, leaving $2.61B of free cash flow. At fiscal year end, Carnival held $51.69B in total assets against $39.40B in total liabilities, including $1.93B of cash and equivalents.
Open the full interactive Carnival financials → Quarterly statements, key ratios, valuation history and price charts.
Carnival Key Stats
| Share Price | $26.73 |
|---|---|
| Market Cap | $36.57B |
| P/E Ratio | 13.2 |
| Revenue YoY Growth | +6.4% |
| 52-Week Range | $21.79 – $33.45 |
| Shares Outstanding | 1.36 billion (basic, 2026 Q3) |
Carnival Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.59B | $1.91B | $12.17B | $21.59B | $25.02B | $26.62B |
| Cost of Goods Sold | $14.46B | $9.00B | $16.55B | $19.64B | $21.45B | — |
| Gross Profit | -$8.87B | -$7.09B | -$4.38B | $7.28B | $9.38B | — |
| Operating Income | -$8.87B | -$7.09B | -$4.38B | $1.96B | $3.57B | $4.48B |
| Pre-Tax Income | -$10.25B | -$9.52B | -$6.08B | -$62.0M | $1.92B | $2.77B |
| Income Tax | -$17.0M | -$21.0M | $14.0M | $13.0M | -$1.0M | $12.0M |
| Net Income | -$10.24B | -$9.50B | -$6.09B | -$74.0M | $1.92B | $2.76B |
| Diluted EPS | -$13.20 | -$8.46 | -$5.16 | -$0.06 | $1.44 | $2.02 |
Carnival Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $6.33B | $6.17B | $6.66B | $8.44B |
| Net Income | $421.0M | $258.0M | $537.0M | $1.92B |
| Diluted EPS | $0.30 | $0.19 | $0.39 | $1.40 |
Carnival Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.51B | $8.94B | $4.03B | $2.42B | $1.21B | $1.93B |
| Current Assets | $10.56B | $10.13B | $7.49B | $5.27B | $3.38B | $4.22B |
| Total Assets | $53.59B | $53.34B | $51.70B | $49.12B | $49.06B | $51.69B |
| Current Liabilities | $8.69B | $10.41B | $10.61B | $11.48B | $11.62B | $13.09B |
| Total Long-Term Debt | $23.87B | $30.44B | $34.35B | $30.57B | $27.47B | $26.64B |
| Total Liabilities | $33.04B | $41.20B | $44.64B | $42.24B | $39.81B | $39.40B |
| Shareholders' Equity | $20.55B | $12.14B | $7.07B | $6.88B | $9.25B | $12.28B |
Carnival Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$6.30B | -$4.11B | -$1.67B | $4.28B | $5.92B | $6.22B |
| Cash From Investing | -$3.24B | -$3.54B | -$4.77B | -$2.81B | -$4.54B | -$3.32B |
| Cash From Financing | $18.65B | $6.95B | $3.58B | -$5.09B | -$2.58B | -$2.19B |
| Free Cash Flow | -$9.92B | -$7.72B | -$6.61B | $997.0M | $1.30B | $2.61B |
| Dividends Paid | $689.0M | $0 | $0 | — | — | — |
Figures from Carnival's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Carnival financials page for every line item.
Carnival Company Profile
| Ticker | CCL |
|---|---|
| Exchange | NYSE |
| Industry | Water Transportation |
| Headquarters | Miami, Florida |
| Fiscal Year End | November 30 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000815097 |
Frequently Asked Questions
What was Carnival's revenue in fiscal 2025?
Carnival (CCL) reported revenue of $26.62B for fiscal 2025.
What is Carnival's annual revenue history?
Carnival's annual revenue by fiscal year: 2020: $5.59B; 2021: $1.91B; 2022: $12.17B; 2023: $21.59B; 2024: $25.02B; 2025: $26.62B.
What was Carnival's net income in fiscal 2025?
Carnival reported net income of $2.76B for fiscal 2025.
What was Carnival's earnings per share (EPS) in fiscal 2025?
Carnival's diluted EPS was $2.02 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Carnival generate in fiscal 2025?
Carnival generated $2.61B of free cash flow in fiscal 2025.
What was Carnival's revenue last quarter?
In its most recent reported quarter (2026 Q3), Carnival reported revenue of $8.44B.
How much debt does Carnival have?
Carnival reported $26.64B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Carnival are outstanding?
Carnival reported a weighted average of 1.36 billion basic shares outstanding in 2026 Q3.
What is Carnival's market cap?
Based on its latest closing price, Carnival (CCL) has a market capitalization of about $36.57B.
When does Carnival's fiscal year end?
Carnival's fiscal year end, as registered with the SEC, is November 30.
Where is Carnival headquartered?
Carnival lists its business address in Miami, Florida in its SEC filings.