Carnival Corporation (CCL) financials
Carnival revenue and earnings by year
Carnival's revenue was $26.6 billion in the fiscal year to November 30, 2025, up 6.4% from the year before. Net income was $2.76 billion, 10.4% of revenue. Since the fiscal year to November 30, 2016, revenue has grown 5.5% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 | Nov 2020 | Nov 2019 | Nov 2018 | Nov 2017 | Nov 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 26.6 | 25.0 | 21.6 | 12.2 | 1.9 | 5.6 | 20.8 | 18.9 | 17.5 | 16.4 |
| Revenue growth | 6.4% | 15.9% | 77.5% | 537.7% | -65.9% | -73.1% | 10.3% | 7.8% | 6.8% | — |
| Gross profit | 10.7 | 9.4 | 7.3 | 0.9 | -2.2 | -0.7 | 7.9 | 7.8 | 7.0 | 7.0 |
| Gross margin | 40.1% | 37.5% | 33.7% | 7.0% | -112.9% | -12.2% | 38.1% | 41.3% | 40.0% | 42.7% |
| Operating income | 4.5 | 3.6 | 2.0 | -4.4 | -7.1 | -8.9 | 3.3 | 3.3 | 2.8 | 3.1 |
| Operating margin | 16.8% | 14.3% | 9.1% | -36.0% | -371.6% | -158.4% | 15.7% | 17.6% | 16.0% | 18.7% |
| Net income | 2.8 | 1.9 | -0.1 | -6.1 | -9.5 | -10.2 | 3.0 | 3.2 | 2.6 | 2.8 |
| Net margin | 10.4% | 7.7% | -0.3% | -50.1% | -498.0% | -182.9% | 14.4% | 16.7% | 14.9% | 17.0% |
| Diluted EPS | $2.02 | $1.44 | -$0.06 | -$5.16 | -$8.46 | -$13.20 | $4.32 | $4.44 | $3.59 | $3.72 |
| Free cash flow | 2.9 | 1.4 | 1.3 | -6.5 | -7.4 | -9.6 | 0.1 | 2.2 | 2.4 | 2.1 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open CCL in Markets.
How Carnival makes money
Revenue by segment in the quarter to August 31, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| North America | $5.54B | 65.7% |
| Europe | $2.61B | 30.9% |
| Tour & Other | $191M | 2.3% |
| Cruise | $96.0M | 1.1% |
See also: CCL valuation and P/E history · CCL returns
No forecast, no recommendation. This page describes Carnival Corporation from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.