Carnival Corporation (CCL) Financial Statements & Analysis

Carnival Corporation (CCL) Income Statement

Carnival Corporation reported revenue of $26.62B in fiscal 2025 (fiscal year ended Nov 30, 2025), up 6.4% from $25.02B a year earlier. Net income was $2.76B, up 44.1% year over year, a net margin of 10.4%. Gross margin was 54.8% and operating margin 16.8%. In the most recent quarter, Q3 fiscal 2026 (ended Aug 31, 2026), revenue was $8.44B, up 3.5% from the same quarter a year earlier.

Carnival Corporation Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Carnival Corporation Ltd. income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Nov 2025	Nov 2024	Nov 2023	Nov 2022	Nov 2021	Nov 2020	Nov 2019	Nov 2018	Nov 2017
Revenue & Gross Profit
Revenue	26.62	25.02	21.59	12.17	1.91	5.59	20.83	18.88	17.51
Cost of Revenue	11.83	15.64	10.78	11.76	2.72	8.25	12.91	11.09	10.50
Gross Profit	14.58	9.38	10.70	0.41	-0.81	-2.65	7.92	7.79	7.01
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	3.62	3.25	3.08	2.52	1.90	1.88	2.48	2.45	2.27
Operating Expenses	10.10	5.81	8.75	4.79	6.28	6.21	4.64	4.47	4.20
Operating Income	4.48	3.57	1.96	-4.38	-7.09	-8.87	3.28	3.33	2.81
Other Income/Expense
Interest Income	0.05	0.09	0.23	0.07	0.01	0.02	0.02	0.01	0.01
Interest Expense	-1.35	1.76	-2.07	1.61	-1.60	0.90	0.21	0.19	0.20
Other Income/Expense	-1.71	0.00	-2.02	-0.17	-2.43	-1.39	-0.22	-0.12	-0.14
Income
Income Before Tax	2.77	1.92	-0.06	-6.08	-9.52	-10.25	3.06	3.21	2.67
Income Tax Expense	0.01	0.00	0.01	0.01	-0.02	-0.02	0.07	0.05	0.06
Net Income	2.76	1.92	-0.07	-6.09	-9.50	-10.24	2.99	3.15	2.61
Net Income - Continuous Operations	2.76	1.92	-0.08	-6.09	-9.50	-10.24	2.99	3.15	2.61
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	7.15	6.23	4.23	-2.20	-4.05	-7.12	5.43	5.42	4.71
EBIT	4.36	3.67	1.86	-4.47	-6.28	-	-	-	-
Depreciation & Amortization	2.79	2.56	2.37	2.28	2.23	2.24	2.16	2.02	1.85
Earnings Per Share
Basic EPS	2.00	2.00	-	-5.00	-8.00	-13.00	4.00	4.00	4.00
Diluted EPS	2.00	1.00	-	-5.00	-8.00	-13.00	4.00	4.00	4.00
Basic Shares Outstanding	1.31	1.27	1.26	1.18	1.12	0.78	0.69	0.71	0.72
Diluted Shares Outstanding	1.40	1.40	1.26	1.18	1.12	0.78	0.69	0.71	0.73

Source: Company financial statements from annual and quarterly filings. Data as of Aug 31, 2026. Data sources and methodology

Frequently Asked Questions About Carnival Corporation Financial Statements

What was Carnival Corporation's revenue in fiscal 2025?

Carnival Corporation reported revenue of $26.62B in fiscal 2025 (fiscal year ended Nov 30, 2025). That was up 6.4% from $25.02B a year earlier.

Is Carnival Corporation profitable?

Yes. Carnival Corporation earned net income of $2.76B in fiscal 2025, a net margin of 10.4%. In fiscal 2024 it earned $1.92B.

What is Carnival Corporation's operating margin?

Carnival Corporation's operating income was $4.48B on revenue of $26.62B in fiscal 2025, an operating margin of 16.8%, compared with 14.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition