15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $26.6B | $2.8B | 0.0% | 16.8% | $2.6B | $27.4B | $1.9B |
| 2024 | $25.0B | $1.9B | 37.5% | 14.3% | $1.3B | $28.2B | $1.2B |
| 2023 | $21.6B | -$74M | 33.7% | 9.1% | $997M | $31.3B | $2.4B |
| 2022 | $12.2B | -$6.1B | 3.4% | -36.0% | -$6.6B | $35.6B | $4.0B |
| 2021 | $1.9B | -$9.5B | -144.0% | -371.5% | -$7.7B | $34.0B | $8.9B |
| 2020 | $5.6B | -$10.2B | 0.0% | -158.4% | -$9.9B | $27.6B | $9.5B |
| 2019 | $20.8B | $3.0B | 38.0% | 15.7% | $46M | $11.6B | $518M |
| 2018 | $18.9B | $3.2B | 41.3% | 17.6% | $1.8B | $10.4B | $982M |
| 2017 | $17.5B | $2.6B | 40.0% | 16.0% | $2.4B | $9.2B | $395M |
| 2016 | — | $2.8B | — | — | $2.1B | $9.5B | $603M |
| 2015 | — | $1.8B | — | — | $2.3B | $8.8B | $1.4B |
| 2014 | — | $1.2B | — | — | $847M | $9.1B | $331M |
| 2013 | — | $1.1B | — | — | $685M | $9.6B | $462M |
| 2012 | — | $1.3B | — | — | $667M | $8.9B | $465M |
| 2011 | — | $1.9B | — | — | $1.1B | $9.4B | $450M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| May '26 | $6.7B | $537M | 0.0% | 12.8% | $1.8B | $25.6B | $2.2B |
| Feb '26 | $6.2B | $258M | 0.0% | 9.8% | $697M | $26.0B | $1.4B |
| Nov '25 | $6.3B | $422M | 0.0% | 11.6% | $12M | $27.4B | $1.9B |
| Aug '25 | $8.2B | $1.9B | 46.2% | 27.9% | $736M | $27.2B | $1.8B |
| May '25 | $6.3B | $565M | 38.6% | 14.8% | $1.5B | $28.0B | $2.1B |
| Feb '25 | $5.8B | -$78M | 35.2% | 9.3% | $318M | $27.7B | $833M |
| Nov '24 | $5.9B | $303M | 35.4% | 9.4% | $319M | $28.2B | $1.2B |
| Aug '24 | $7.9B | $1.7B | 45.5% | 27.6% | $628M | $29.6B | $1.5B |
| May '24 | $5.8B | $92M | 34.3% | 9.7% | $720M | $30.2B | $1.6B |
| Feb '24 | $5.4B | -$214M | 31.5% | 5.1% | -$370M | $31.6B | $2.2B |
| Nov '23 | $5.4B | -$48M | 32.7% | 7.1% | $247M | $31.3B | $2.4B |
| Aug '23 | $6.9B | $1.1B | 42.8% | 23.7% | $997M | $32.1B | $2.8B |
| May '23 | $4.9B | -$407M | 29.6% | 2.4% | $440M | $34.5B | $4.5B |
| Feb '23 | $4.4B | -$693M | 25.3% | -3.9% | -$687M | $36.0B | $5.5B |
| Nov '22 | $3.8B | -$1.6B | 4.5% | -29.6% | -$1.3B | $35.6B | $4.0B |
| Aug '22 | $4.3B | -$770M | 21.5% | -6.5% | -$882M | $34.8B | $7.1B |
| May '22 | $2.4B | -$1.8B | -11.7% | -61.3% | -$488M | $38.6B | $7.1B |
| Feb '22 | $1.6B | -$1.9B | -25.1% | -91.9% | -$3.9B | $38.5B | $6.4B |
| Nov '21 | $1.3B | -$2.6B | 0.0% | -147.1% | -$855M | $34.0B | $8.9B |
| Aug '21 | $546M | -$2.8B | -196.0% | -376.7% | -$1.8B | $35.1B | $7.2B |
How the market has priced CCL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Carnival Corporation's revenue has grown 36.6% per year. These are computed facts, not advice.
As of FY2025, Carnival Corporation reported $27.4B of total debt against $1.9B of cash; operating income covered interest expense 3.3×.
In FY2025, gross margin was —, operating margin 16.8%, and net margin 10.4%.
As of Jun '26, Carnival Corporation traded at a price-to-earnings ratio of about 14.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.