Carnival Co. & (CCL) Financials

$17.81 +0.17 (+0.96%)

As of 04/14/2025 03:59 PM Eastern

Annual Income Statements for Carnival Co. &

This table shows Carnival Co. &'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,757	-6,354	2,606	3,152	2,990	-10,236	-9,501	-6,093	-76	1,916
Consolidated Net Income / (Loss)	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916
Net Income / (Loss) Continuing Operations	1,757	-6,354	2,606	3,153	2,989	-10,236	-9,501	-6,094	-76	1,916
Total Pre-Tax Income	1,799	2,828	2,666	3,207	3,060	-10,253	-9,522	-6,080	-62	1,915
Total Operating Income	2,574	3,071	2,809	3,325	3,276	-8,865	-7,089	-4,379	1,956	3,574
Total Gross Profit	6,267	9,151	9,116	7,807	19,263	4,772	500	5,990	13,075	15,647
Total Revenue	15,714	16,389	17,510	18,881	20,825	5,595	1,908	12,168	21,593	25,021
Operating Revenue	15,488	16,389	17,510	18,881	20,825	5,595	1,908	12,168	21,593	25,021
Total Cost of Revenue	9,447	7,238	8,394	11,074	1,562	823	1,408	6,178	8,518	9,374
Operating Cost of Revenue	9,447	7,238	8,394	11,074	1,562	823	1,408	6,178	8,518	9,374
Total Operating Expenses	3,693	15,311	6,307	4,483	15,986	13,637	7,590	10,369	11,119	12,074
Selling, General & Admin Expense	2,067	2,197	2,265	2,450	2,480	1,878	1,885	2,515	2,950	3,252
Depreciation Expense	1,626	1,738	1,846	2,017	2,160	2,241	2,233	2,275	2,370	2,557
Other Operating Expenses / (Income)	-	11,376	2,107	0.00	11,320	5,455	2,655	5,139	5,799	6,265
Impairment Charge	0.00	0.00	89	16	26	4,063	817	440	0.00	0.00
Total Other Income / (Expense), net	-775	-243	-143	-118	-215	-1,388	-2,432	-1,701	-2,019	-1,658
Interest Expense	217	223	198	194	206	1,354	2,271	1,610	2,177	1,834
Interest & Investment Income	8.00	6.00	9.00	14	23	18	12	74	233	93
Other Income / (Expense), net	-566	-26	46	62	-32	-52	-173	-165	-75	83
Income Tax Expense	42	-49	60	54	71	-17	-21	14	13	-1.00
Basic Earnings per Share	$2.26	$3.73	$3.61	$4.45	$4.34	($13.20)	($8.46)	($5.16)	($0.06)	$1.50
Weighted Average Basic Shares Outstanding	777.40M	745M	721.90M	718.60M	710.17M	932.67B	2.16B	-	2.43B	1.35B
Diluted Earnings per Share	$2.26	$3.72	$3.59	$4.44	$4.32	($13.20)	($8.46)	($5.16)	($0.06)	$1.44
Weighted Average Diluted Shares Outstanding	777.40M	745M	721.90M	718.60M	710.17M	932.67B	2.16B	-	2.43B	1.35B
Weighted Average Basic & Diluted Shares Outstanding	777.40M	745M	721.90M	718.60M	710.17M	932.67B	2.16B	-	2.43B	1.35B

This table shows Carnival Co. &'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Income / (Loss) Attributable to Common Shareholders	-693	-407	1,074	-50	-214	90	1,735	305	-78
Consolidated Net Income / (Loss)	-693	-407	1,074	-48	-214	92	1,735	303	-78
Net Income / (Loss) Continuing Operations	-693	-407	1,074	-50	-214	90	1,735	305	-78
Total Pre-Tax Income	-686	-402	1,065	-39	-214	96	1,743	290	-71
Total Operating Income	-172	120	1,624	384	276	560	2,178	560	543
Total Gross Profit	1,121	2,929	4,447	4,578	1,701	3,536	5,164	5,246	3,542
Total Revenue	4,432	4,911	6,854	5,396	5,406	5,781	7,896	5,938	5,810
Operating Revenue	4,432	4,911	6,854	5,396	5,406	5,781	7,896	5,938	5,810
Total Cost of Revenue	3,311	1,982	2,407	818	3,705	2,245	2,732	692	2,268
Operating Cost of Revenue	3,310	1,982	2,407	819	2,843	2,245	2,732	1,554	2,268
Total Operating Expenses	1,294	2,809	2,822	4,194	1,426	2,975	2,984	4,689	3,000
Selling, General & Admin Expense	712	736	713	789	813	789	763	887	848
Depreciation Expense	582	597	596	595	613	634	651	659	654
Other Operating Expenses / (Income)	-	1,476	1,513	-	-	1,552	1,570	-	1,498
Total Other Income / (Expense), net	-514	-521	-559	-425	-489	-465	-435	-269	-614
Interest Expense	539	573	599	466	504	483	444	403	629
Interest & Investment Income	56	69	59	49	33	25	19	16	7.00
Other Income / (Expense), net	-30	-17	-19	-9.00	-18	-7.00	-10	118	8.00
Income Tax Expense	7.00	5.00	-9.00	10	0.00	5.00	8.00	-14	7.00
Basic Earnings per Share	($0.55)	($0.32)	$0.85	($0.04)	($0.17)	$0.07	$1.37	$0.23	($0.06)
Weighted Average Basic Shares Outstanding	-	-	-	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B
Diluted Earnings per Share	($0.55)	($0.32)	$0.79	$0.02	($0.17)	$0.07	$1.26	$0.28	($0.06)
Weighted Average Diluted Shares Outstanding	-	-	-	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B
Weighted Average Basic & Diluted Shares Outstanding	-	-	-	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B

This table details how cash moves in and out of Carnival Co. &'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	1,064	-792	-252	575	-457	9,109	-715	-2,940	-3,618	-1,204
Net Cash From Operating Activities	4,545	5,134	5,322	5,549	5,475	-6,301	-4,109	-1,670	4,281	5,923
Net Cash From Continuing Operating Activities	4,545	5,134	5,322	5,549	5,478	-6,299	-4,090	-1,661	4,280	5,965
Net Income / (Loss) Continuing Operations	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916
Consolidated Net Income / (Loss)	1,757	2,779	2,606	3,152	2,990	-10,236	-9,501	-6,093	-74	1,916
Depreciation Expense	1,626	1,738	1,846	2,017	2,160	2,241	2,233	2,275	2,370	2,557
Amortization Expense	-	-	-	-	22	119	172	171	161	141
Non-Cash Adjustments To Reconcile Net Income	663	173	832	16	94	4,763	1,892	758	242	271
Changes in Operating Assets and Liabilities, net	499	444	38	364	212	-3,186	1,114	1,228	1,581	1,080
Net Cash From Investing Activities	-2,478	-3,323	-3,122	-3,514	-5,277	-3,240	-3,543	-4,767	-2,810	-4,535
Net Cash From Continuing Investing Activities	-2,478	-3,323	-3,122	-3,514	-5,277	-3,240	-3,543	-4,767	-2,810	-4,534
Purchase of Property, Plant & Equipment	-2,294	-3,062	-2,944	-3,749	-5,429	-3,620	-3,607	-4,940	-3,284	-4,626
Purchase of Investments	-219	-291	-203	-135	0.00	-81	-2,963	-315	0.00	0.00
Sale of Property, Plant & Equipment	-	26	0.00	389	26	334	351	70	340	58
Sale and/or Maturity of Investments	-	-	-	-	0.00	0.00	2,673	515	0.00	0.00
Other Investing Activities, net	35	4.00	25	-19	126	127	3.00	-97	134	34
Net Cash From Financing Activities	-942	-2,591	-2,452	-1,460	-655	18,650	6,949	3,577	-5,089	-2,584
Net Cash From Continuing Financing Activities	-942	-2,591	-2,452	-1,459	-654	18,649	6,949	3,577	-5,089	-2,584
Repayment of Debt	-1,898	-856	-1,280	-1,598	-2,342	-1,771	-7,120	-4,820	-8,057	-5,679
Repurchase of Common Equity	-533	-2,340	-552	-1,468	-603	-12	-188	-87	-	0.00
Issuance of Debt	2,041	1,542	467	2,959	3,674	17,872	13,042	7,209	2,961	3,095
Issuance of Common Equity	264	40	-	3.00	4.00	3,249	1,009	1,180	5.00	0.00
Other Financing Activities, net	-	-	-	-	0.00	0.00	206	95	2.00	0.00
Other Net Changes in Cash	-	-	-	-	-	-	-13	-79	-	-8.00

This table details how cash moves in and out of Carnival Co. &'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Change in Cash & Equivalents	-546	-984	-1,636	-452	-162	-605	-126	-311	-376
Net Cash From Operating Activities	388	1,137	1,834	922	1,768	2,039	1,205	911	925
Net Cash From Continuing Operating Activities	387	1,138	1,835	920	1,769	2,039	1,212	945	919
Net Income / (Loss) Continuing Operations	-693	-407	1,074	-48	-214	91	1,736	303	-78
Consolidated Net Income / (Loss)	-693	-407	1,074	-48	-214	91	1,736	303	-78
Depreciation Expense	582	597	595	596	613	634	651	659	654
Amortization Expense	44	41	41	35	36	36	35	34	30
Non-Cash Adjustments To Reconcile Net Income	55	106	71	10	81	86	59	45	306
Changes in Operating Assets and Liabilities, net	399	801	54	327	1,253	1,192	-1,269	-96	7.00
Net Cash From Investing Activities	-1,044	-465	-813	-488	-2,163	-1,221	-577	-574	-605
Net Cash From Continuing Investing Activities	-1,044	-465	-812	-489	-2,163	-1,222	-576	-573	-616
Purchase of Property, Plant & Equipment	-1,075	-697	-837	-675	-2,138	-1,319	-577	-592	-607
Other Investing Activities, net	8.00	-	20	106	-25	97	-15	-23	-9.00
Net Cash From Financing Activities	111	-1,663	-2,677	-860	237	-1,420	-770	-631	-690
Net Cash From Continuing Financing Activities	110	-1,662	-2,677	-860	237	-1,420	-770	-631	-690
Repayment of Debt	-720	-1,855	-4,622	-860	-1,498	-2,733	-770	-678	-3,670
Issuance of Debt	830	186	1,945	-	1,735	1,313	-	47	2,980
Other Net Changes in Cash	-2.00	8.00	19	-	-3.00	-3.00	16	-18	-6.00

This table presents Carnival Co. &'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	39,237	38,881	40,778	42,401	45,058	53,593	53,344	51,703	49,120	49,057
Total Current Assets	2,451	1,689	1,596	2,225	2,059	10,563	10,133	7,492	5,266	3,378
Cash & Equivalents	1,395	603	395	982	518	9,513	8,939	4,029	2,415	1,210
Accounts Receivable	303	298	312	358	444	273	246	395	556	590
Inventories, net	330	322	387	450	427	335	356	428	528	507
Other Current Assets	423	466	502	436	671	443	392	652	1,767	1,070
Plant, Property, & Equipment, net	31,818	32,429	34,430	35,336	38,131	38,073	38,107	38,687	40,116	41,795
Total Noncurrent Assets	4,968	4,763	4,752	4,839	4,869	4,957	5,104	5,524	3,738	3,885
Goodwill	3,010	2,910	2,967	2,925	2,912	807	579	579	579	579
Intangible Assets	1,308	1,275	1,200	1,176	1,174	1,186	1,181	1,156	1,169	1,163
Other Noncurrent Operating Assets	650	578	585	738	783	2,964	3,344	3,789	1,990	2,143
Total Liabilities & Shareholders' Equity	39,237	38,881	40,778	42,401	45,058	53,593	53,344	51,703	49,120	49,057
Total Liabilities	15,466	16,284	16,562	17,957	19,692	33,038	41,199	44,638	42,239	39,804
Total Current Liabilities	6,956	7,072	8,800	9,204	9,127	8,686	10,408	10,605	11,481	11,617
Short-Term Debt	1,374	1,097	2,202	2,426	1,827	4,826	4,717	2,593	2,089	1,538
Accounts Payable	627	713	762	730	756	624	797	1,050	1,168	1,133
Accrued Expenses	1,683	1,740	1,877	1,654	1,809	1,144	1,641	1,942	2,003	2,358
Customer Deposits	3,272	3,522	3,958	4,395	4,735	1,940	3,112	4,874	6,072	6,425
Other Current Liabilities	-	-	-	-	0.00	151	142	146	149	163
Total Noncurrent Liabilities	8,510	9,212	7,762	8,753	10,565	24,352	30,791	34,033	30,758	28,187
Long-Term Debt	7,413	8,302	6,993	7,897	9,675	22,130	28,509	31,953	28,483	25,936
Other Noncurrent Operating Liabilities	1,097	910	769	856	890	2,222	2,282	2,080	2,275	2,251
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	23,771	22,597	24,216	24,443	25,365	20,555	12,144	7,065	6,882	9,251
Total Preferred & Common Equity	23,771	22,597	24,216	24,443	25,365	20,555	12,144	7,065	6,882	9,251
Total Common Equity	23,771	22,597	24,216	24,443	25,365	20,555	12,145	7,064	6,882	9,251
Common Stock	8,927	8,997	9,055	9,121	9,172	14,320	15,664	17,245	17,085	17,529
Retained Earnings	20,060	21,843	23,292	25,066	26,653	16,075	6,448	269	185	2,101
Treasury Stock	-3,475	-5,789	-6,349	-7,795	-8,394	-8,404	-8,466	-8,468	-8,449	-8,404
Accumulated Other Comprehensive Income / (Loss)	-1,741	-2,454	-1,782	-1,949	-2,066	-1,436	-1,501	-1,982	-1,939	-1,975

This table presents Carnival Co. &'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Total Assets	51,703	49,120	49,761	49,603	49,805	49,057	48,535
Total Current Assets	7,492	5,266	4,484	3,768	3,626	3,378	2,977
Cash & Equivalents	4,029	2,415	2,242	1,646	1,522	1,210	833
Accounts Receivable	395	556	644	494	632	590	543
Inventories, net	428	528	531	509	492	507	518
Other Current Assets	652	1,767	1,067	1,118	980	1,070	1,083
Plant, Property, & Equipment, net	38,687	40,116	41,515	42,105	42,380	41,795	41,654
Total Noncurrent Assets	5,524	3,738	3,762	3,730	3,800	3,885	3,904
Goodwill	579	579	579	579	579	579	579
Intangible Assets	1,156	1,169	1,168	1,167	1,173	1,163	1,162
Other Noncurrent Operating Assets	3,789	1,990	2,015	1,984	2,048	2,143	2,163
Total Liabilities & Shareholders' Equity	51,703	49,120	49,761	49,603	49,805	49,057	48,535
Total Liabilities	44,638	42,239	43,079	42,788	41,207	39,804	39,352
Total Current Liabilities	10,605	11,481	12,396	13,385	12,265	11,617	11,578
Short-Term Debt	2,593	2,089	2,195	2,181	2,214	1,538	1,531
Accounts Payable	1,050	1,168	1,103	1,063	1,062	1,133	1,091
Accrued Expenses	1,942	2,003	2,318	2,114	2,393	2,358	1,939
Customer Deposits	4,874	6,072	6,642	7,883	6,436	6,425	6,853
Other Current Liabilities	146	149	138	144	159	163	164
Total Noncurrent Liabilities	34,033	30,758	30,683	29,403	28,942	28,187	27,774
Long-Term Debt	31,953	28,483	28,544	27,154	26,642	25,936	25,487
Other Noncurrent Operating Liabilities	2,080	2,275	2,139	2,249	2,300	2,251	2,287
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,065	6,882	6,682	6,814	8,597	9,251	9,182
Total Preferred & Common Equity	7,065	6,882	6,682	6,814	8,597	9,251	9,182
Total Common Equity	7,064	6,882	6,682	6,814	8,597	9,251	9,183
Common Stock	17,245	17,085	17,053	17,075	17,097	17,529	17,554
Retained Earnings	269	185	-29	62	1,798	2,101	1,991
Treasury Stock	-8,468	-8,449	-8,404	-8,404	-8,404	-8,404	-8,376
Accumulated Other Comprehensive Income / (Loss)	-1,982	-1,939	-1,938	-1,919	-1,894	-1,975	-1,986

This table displays calculated financial ratios and metrics derived from Carnival Co. &'s official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.07%	4.30%	6.84%	7.83%	10.30%	-73.13%	-65.90%	537.74%	77.46%	15.88%
EBITDA Growth	15.66%	31.62%	-1.71%	14.95%	0.41%	-220.84%	25.93%	56.80%	310.30%	44.04%
EBIT Growth	33.42%	51.64%	-6.24%	18.63%	-4.22%	-374.88%	18.56%	37.43%	141.40%	94.42%
NOPAT Growth	42.92%	24.28%	-12.11%	19.06%	-2.11%	-293.92%	20.03%	38.23%	144.67%	161.16%
Net Income Growth	44.49%	58.17%	-6.23%	20.95%	-5.14%	-442.34%	7.18%	35.87%	98.79%	2,689.19%
EPS Growth	44.87%	64.60%	-3.49%	23.68%	-2.70%	-405.56%	35.91%	39.01%	98.84%	2,500.00%
Operating Cash Flow Growth	32.51%	12.96%	3.66%	4.27%	-1.33%	-215.09%	34.79%	59.36%	356.35%	38.36%
Free Cash Flow Firm Growth	75.85%	-32.88%	-61.24%	123.04%	-74.74%	-1,342.67%	59.34%	23.96%	179.28%	60.86%
Invested Capital Growth	-5.45%	0.74%	5.17%	2.32%	7.60%	4.53%	-4.66%	-1.76%	-1.56%	1.37%
Revenue Q/Q Growth	-0.06%	1.40%	50.02%	-21.98%	1.59%	-45.90%	190.41%	0.00%	0.00%	2.21%
EBITDA Q/Q Growth	10.79%	8.19%	222.93%	-61.32%	-0.06%	-44.71%	-7.03%	0.00%	0.00%	6.09%
EBIT Q/Q Growth	20.53%	12.86%	150.74%	-71.74%	-2.14%	-31.48%	-4.73%	0.00%	0.00%	9.03%
NOPAT Q/Q Growth	11.59%	6.66%	147.60%	-71.94%	-2.09%	-31.57%	-3.66%	0.00%	0.00%	6.78%
Net Income Q/Q Growth	26.95%	13.85%	144.37%	-73.17%	-2.29%	-34.86%	-4.36%	0.00%	0.00%	22.43%
EPS Q/Q Growth	27.68%	14.11%	-1.37%	-1.11%	-2.26%	-28.28%	-0.36%	0.00%	0.00%	22.03%
Operating Cash Flow Q/Q Growth	8.11%	0.90%	0.00%	1.63%	-0.94%	-75.61%	23.81%	0.00%	0.00%	-0.19%
Free Cash Flow Firm Q/Q Growth	-87.97%	-1.19%	119.45%	111.33%	-70.39%	-29.26%	53.37%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.12%	4.23%	4.87%	-5.40%	0.00%	0.00%	-1.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.88%	55.84%	52.06%	41.35%	92.50%	85.29%	26.21%	49.23%	60.55%	62.54%
EBITDA Margin	23.13%	29.18%	26.85%	28.62%	26.06%	-117.19%	-254.56%	-17.24%	20.43%	25.40%
Operating Margin	16.38%	18.74%	16.04%	17.61%	15.73%	-158.45%	-371.54%	-35.99%	9.06%	14.28%
EBIT Margin	12.78%	18.58%	16.31%	17.94%	15.58%	-159.37%	-380.61%	-37.34%	8.71%	14.62%
Profit (Net Income) Margin	11.18%	16.96%	14.88%	16.69%	14.36%	-182.95%	-497.96%	-50.07%	-0.34%	7.66%
Tax Burden Percent	97.67%	98.27%	97.75%	98.29%	97.71%	99.83%	99.78%	100.21%	119.35%	100.05%
Interest Burden Percent	89.59%	92.87%	93.38%	94.69%	94.33%	114.98%	131.12%	133.80%	-3.30%	52.37%
Effective Tax Rate	2.33%	-1.73%	2.25%	1.68%	2.32%	0.00%	0.00%	0.00%	0.00%	-0.05%
Return on Invested Capital (ROIC)	7.84%	9.99%	8.53%	9.79%	9.13%	-16.69%	-13.37%	-8.54%	3.88%	10.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.53%	5.72%	6.94%	8.50%	7.06%	-45.04%	-35.23%	-20.04%	-1.22%	4.04%
Return on Net Nonoperating Assets (RNNOA)	-0.52%	2.00%	2.61%	3.17%	2.88%	-27.89%	-44.74%	-54.90%	-4.94%	13.62%
Return on Equity (ROE)	7.32%	11.99%	11.13%	12.96%	12.01%	-44.58%	-58.11%	-63.44%	-1.06%	23.75%
Cash Return on Invested Capital (CROIC)	13.45%	9.25%	3.48%	7.49%	1.80%	-21.13%	-8.60%	-6.76%	5.45%	8.78%
Operating Return on Assets (OROA)	5.10%	7.80%	7.17%	8.14%	7.42%	-18.08%	-13.58%	-8.65%	3.73%	7.45%
Return on Assets (ROA)	4.47%	7.11%	6.54%	7.58%	6.84%	-20.75%	-17.77%	-11.60%	-0.15%	3.90%
Return on Common Equity (ROCE)	7.32%	11.99%	11.13%	12.96%	12.01%	-44.58%	-58.11%	-63.44%	-1.06%	23.75%
Return on Equity Simple (ROE_SIMPLE)	7.39%	12.30%	10.76%	12.90%	11.79%	-49.80%	-78.24%	-86.24%	-1.08%	20.71%
Net Operating Profit after Tax (NOPAT)	2,514	3,124	2,746	3,269	3,200	-6,206	-4,962	-3,065	1,369	3,576
NOPAT Margin	16.00%	19.06%	15.68%	17.31%	15.37%	-110.91%	-260.08%	-25.19%	6.34%	14.29%
Net Nonoperating Expense Percent (NNEP)	9.37%	4.27%	1.59%	1.29%	2.07%	28.35%	21.86%	11.51%	5.09%	6.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-7.37%	3.66%	9.74%
Cost of Revenue to Revenue	60.12%	44.16%	47.94%	58.65%	7.50%	14.71%	73.79%	50.77%	39.45%	37.46%
SG&A Expenses to Revenue	13.15%	13.41%	12.94%	12.98%	11.91%	33.57%	98.79%	20.67%	13.66%	13.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.50%	93.42%	36.02%	23.74%	76.76%	243.74%	397.80%	85.22%	51.49%	48.26%
Earnings before Interest and Taxes (EBIT)	2,008	3,045	2,855	3,387	3,244	-8,917	-7,262	-4,544	1,881	3,657
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,634	4,783	4,701	5,404	5,426	-6,557	-4,857	-2,098	4,412	6,355
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.50	1.54	1.86	1.70	1.25	0.88	1.69	1.65	2.56	3.69
Price to Tangible Book Value (P/TBV)	1.84	1.89	2.25	2.04	1.49	0.97	1.98	2.18	3.44	4.54
Price to Revenue (P/Rev)	2.27	2.12	2.58	2.20	1.52	3.23	10.77	0.96	0.82	1.36
Price to Earnings (P/E)	20.32	0.00	17.32	13.17	10.62	0.00	0.00	0.00	0.00	17.81
Dividend Yield	2.49%	2.93%	2.65%	3.41%	4.49%	10.01%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.92%	0.00%	5.77%	7.60%	9.42%	0.00%	0.00%	0.00%	0.00%	5.62%
Enterprise Value to Invested Capital (EV/IC)	1.38	1.39	1.63	1.50	1.18	0.93	1.23	1.13	1.31	1.70
Enterprise Value to Revenue (EV/Rev)	2.74	2.66	3.08	2.69	2.05	6.34	23.39	3.30	2.12	2.41
Enterprise Value to EBITDA (EV/EBITDA)	11.86	9.11	11.47	9.41	7.88	0.00	0.00	0.00	10.38	9.50
Enterprise Value to EBIT (EV/EBIT)	21.46	14.31	18.89	15.01	13.17	0.00	0.00	0.00	24.35	16.51
Enterprise Value to NOPAT (EV/NOPAT)	17.14	13.95	19.64	15.55	13.35	0.00	0.00	0.00	33.45	16.89
Enterprise Value to Operating Cash Flow (EV/OCF)	9.48	8.49	10.14	9.16	7.81	0.00	0.00	0.00	10.70	10.20
Enterprise Value to Free Cash Flow (EV/FCFF)	9.99	15.06	48.08	20.32	67.62	0.00	0.00	0.00	23.79	19.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.37	0.42	0.38	0.42	0.45	1.31	2.74	4.89	4.44	2.97
Long-Term Debt to Equity	0.31	0.37	0.29	0.32	0.38	1.08	2.35	4.52	4.14	2.80
Financial Leverage	0.34	0.35	0.38	0.37	0.41	0.62	1.27	2.74	4.06	3.37
Leverage Ratio	1.64	1.68	1.70	1.71	1.76	2.15	3.27	5.47	7.23	6.09
Compound Leverage Factor	1.47	1.56	1.59	1.62	1.66	2.47	4.29	7.32	-0.24	3.19
Debt to Total Capital	26.99%	29.38%	27.52%	29.69%	31.20%	56.74%	73.23%	83.02%	81.63%	74.81%
Short-Term Debt to Total Capital	4.22%	3.43%	6.59%	6.98%	4.96%	10.16%	10.40%	6.23%	5.58%	4.19%
Long-Term Debt to Total Capital	22.77%	25.95%	20.93%	22.71%	26.24%	46.58%	62.84%	76.79%	76.05%	70.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	73.01%	70.62%	72.48%	70.31%	68.80%	43.26%	26.77%	16.98%	18.37%	25.19%
Debt to EBITDA	2.42	1.97	1.96	1.91	2.12	-4.11	-6.84	-16.47	6.93	4.32
Net Debt to EBITDA	2.03	1.84	1.87	1.73	2.02	-2.66	-4.96	-13.60	6.38	4.13
Long-Term Debt to EBITDA	2.04	1.74	1.49	1.46	1.78	-3.38	-5.87	-15.23	6.46	4.08
Debt to NOPAT	3.50	3.01	3.35	3.16	3.59	-4.34	-6.70	-11.27	22.33	7.68
Net Debt to NOPAT	2.94	2.82	3.20	2.86	3.43	-2.81	-4.85	-9.31	20.56	7.34
Long-Term Debt to NOPAT	2.95	2.66	2.55	2.42	3.02	-3.57	-5.75	-10.42	20.80	7.25
Altman Z-Score	2.53	2.58	2.88	2.73	2.31	0.35	0.05	0.04	0.67	1.13
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.35	0.24	0.18	0.24	0.23	1.22	0.97	0.71	0.46	0.29
Quick Ratio	0.24	0.13	0.08	0.15	0.11	1.13	0.90	0.42	0.26	0.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,312	2,894	1,122	2,502	632	-7,854	-3,193	-2,428	1,925	3,097
Operating Cash Flow to CapEx	198.13%	169.10%	180.77%	165.15%	101.33%	-191.75%	-126.20%	-34.29%	145.41%	129.66%
Free Cash Flow to Firm to Interest Expense	19.87	12.98	5.67	12.90	3.07	-5.80	-1.41	-1.51	0.88	1.69
Operating Cash Flow to Interest Expense	20.94	23.02	26.88	28.60	26.58	-4.65	-1.81	-1.04	1.97	3.23
Operating Cash Flow Less CapEx to Interest Expense	10.37	9.41	12.01	11.28	0.35	-7.08	-3.24	-4.06	0.61	0.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.42	0.44	0.45	0.48	0.11	0.04	0.23	0.43	0.51
Accounts Receivable Turnover	49.49	54.54	57.41	56.36	51.93	15.61	7.35	37.97	45.41	43.67
Inventory Turnover	27.83	22.20	23.68	26.46	3.56	2.16	4.08	15.76	17.82	18.11
Fixed Asset Turnover	0.49	0.51	0.52	0.54	0.57	0.15	0.05	0.32	0.55	0.61
Accounts Payable Turnover	15.08	10.80	11.38	14.84	2.10	1.19	1.98	6.69	7.68	8.15
Days Sales Outstanding (DSO)	7.37	6.69	6.36	6.48	7.03	23.39	49.64	9.61	8.04	8.36
Days Inventory Outstanding (DIO)	13.12	16.44	15.41	13.79	102.47	168.97	89.57	23.16	20.48	20.15
Days Payable Outstanding (DPO)	24.21	33.79	32.07	24.59	173.62	306.01	184.19	54.56	47.52	44.80
Cash Conversion Cycle (CCC)	-3.71	-10.65	-10.30	-4.32	-64.13	-113.65	-44.98	-21.79	-19.00	-16.29
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	31,163	31,393	33,017	33,784	36,352	38,000	36,231	35,594	35,038	35,517
Invested Capital Turnover	0.49	0.52	0.54	0.57	0.59	0.15	0.05	0.34	0.61	0.71
Increase / (Decrease) in Invested Capital	-1,798	230	1,624	767	2,568	1,648	-1,769	-637	-556	479
Enterprise Value (EV)	43,095	43,584	53,939	50,841	42,735	35,490	44,628	40,161	45,798	60,387
Market Capitalization	35,703	34,788	45,139	41,500	31,751	18,047	20,541	11,632	17,641	34,123
Book Value per Share	$29.36	$29.97	$32.41	$33.71	$35.60	$22.76	$10.42	$6.03	$5.88	$6.89
Tangible Book Value per Share	$24.03	$24.42	$26.84	$28.05	$29.86	$20.55	$8.91	$4.55	$4.38	$5.60
Total Capital	32,558	31,996	33,411	34,766	36,867	47,511	45,370	41,611	37,454	36,725
Total Debt	8,787	9,399	9,195	10,323	11,502	26,956	33,226	34,546	30,572	27,474
Total Long-Term Debt	7,413	8,302	6,993	7,897	9,675	22,130	28,509	31,953	28,483	25,936
Net Debt	7,392	8,796	8,800	9,341	10,984	17,443	24,087	28,529	28,157	26,264
Capital Expenditures (CapEx)	2,294	3,036	2,944	3,360	5,403	3,286	3,256	4,870	2,944	4,568
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,526	-4,889	-5,397	-5,535	-5,759	-2,810	-4,697	-6,537	-6,541	-7,911
Debt-free Net Working Capital (DFNWC)	-3,131	-4,286	-5,002	-4,553	-5,241	6,703	4,442	-520	-4,126	-6,701
Net Working Capital (NWC)	-4,505	-5,383	-7,204	-6,979	-7,068	1,877	-275	-3,113	-6,215	-8,239
Net Nonoperating Expense (NNE)	757	345	140	117	210	4,031	4,539	3,028	1,443	1,660
Net Nonoperating Obligations (NNO)	7,392	8,796	8,801	9,341	10,987	17,445	24,087	28,529	28,156	26,266
Total Depreciation and Amortization (D&A)	1,626	1,738	1,846	2,017	2,182	2,360	2,405	2,446	2,531	2,698
Debt-free, Cash-free Net Working Capital to Revenue	-28.80%	-29.83%	-30.82%	-29.32%	-27.65%	-50.22%	-246.17%	-53.72%	-30.29%	-31.62%
Debt-free Net Working Capital to Revenue	-19.92%	-26.15%	-28.57%	-24.11%	-25.17%	119.80%	232.81%	-4.27%	-19.11%	-26.78%
Net Working Capital to Revenue	-28.67%	-32.85%	-41.14%	-36.96%	-33.94%	33.55%	-14.41%	-25.58%	-28.78%	-32.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.26	$3.73	$3.61	$4.45	$4.34	($13.20)	($8.46)	$0.00	($0.06)	$1.50
Adjusted Weighted Average Basic Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	2.16B	0.00	2.43B	1.35B
Adjusted Diluted Earnings per Share	$2.26	$3.72	$3.59	$4.44	$4.32	($13.20)	($8.46)	$0.00	($0.06)	$1.44
Adjusted Weighted Average Diluted Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	2.16B	0.00	2.43B	1.35B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	794.20M	751.87M	743.52M	718.60M	710.17M	932.67B	2.16B	0.00	2.43B	1.35B
Normalized Net Operating Profit after Tax (NOPAT)	2,514	2,150	2,833	3,285	3,225	-3,361	-4,390	-2,757	1,369	2,502
Normalized NOPAT Margin	16.00%	13.12%	16.18%	17.40%	15.49%	-60.08%	-230.10%	-22.66%	6.34%	10.00%
Pre Tax Income Margin	11.45%	17.26%	15.23%	16.99%	14.69%	-183.25%	-499.06%	-49.97%	-0.29%	7.65%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.25	13.65	14.42	17.46	15.75	-6.59	-3.20	-2.82	0.86	1.99
NOPAT to Interest Expense	11.58	14.01	13.87	16.85	15.53	-4.58	-2.19	-1.90	0.63	1.95
EBIT Less CapEx to Interest Expense	-1.32	0.04	-0.45	0.14	-10.48	-9.01	-4.63	-5.85	-0.49	-0.50
NOPAT Less CapEx to Interest Expense	1.01	0.40	-1.00	-0.47	-10.69	-7.01	-3.62	-4.93	-0.72	-0.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.44%	35.16%	41.71%	42.99%	46.39%	-6.73%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	76.78%	119.36%	62.89%	89.56%	66.56%	-6.85%	-1.98%	-1.43%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Carnival Co. &'s official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	21.98%	17.72%	15.20%	10.04%	7.47%
EBITDA Growth	0.00%	0.00%	0.00%	0.00%	113.92%	65.05%	27.35%	36.28%	36.16%
EBIT Growth	0.00%	0.00%	0.00%	0.00%	227.72%	436.89%	35.08%	80.80%	113.57%
NOPAT Growth	0.00%	0.00%	0.00%	0.00%	260.47%	531.94%	32.38%	118.39%	96.74%
Net Income Growth	0.00%	0.00%	0.00%	0.00%	69.12%	122.60%	61.55%	731.25%	63.55%
EPS Growth	0.00%	0.00%	0.00%	0.00%	69.09%	121.88%	59.49%	1,300.00%	64.71%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	0.00%	355.67%	79.33%	-34.30%	-1.19%	-47.68%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	100.55%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.37%	0.54%
Revenue Q/Q Growth	0.00%	10.81%	39.56%	-21.27%	0.00%	6.94%	36.59%	-24.80%	-2.16%
EBITDA Q/Q Growth	0.00%	74.76%	202.43%	-55.11%	0.00%	34.84%	133.36%	-51.96%	-9.92%
EBIT Q/Q Growth	0.00%	150.99%	1,458.25%	-76.64%	0.00%	114.34%	292.04%	-68.73%	-18.73%
NOPAT Q/Q Growth	0.00%	169.77%	1,849.67%	-83.59%	0.00%	174.76%	308.42%	-72.92%	-35.25%
Net Income Q/Q Growth	0.00%	41.27%	363.88%	-104.47%	0.00%	142.99%	1,785.87%	-82.54%	-125.74%
EPS Q/Q Growth	0.00%	41.82%	346.88%	-97.47%	0.00%	141.18%	1,700.00%	-77.78%	-121.43%
Operating Cash Flow Q/Q Growth	0.00%	193.04%	61.30%	-49.73%	0.00%	15.33%	-40.90%	-24.40%	1.54%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	2.90%	0.61%	100.32%	76.89%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-1.92%	4.15%	-1.16%	-0.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	25.29%	59.64%	64.88%	84.84%	31.47%	61.17%	65.40%	88.35%	60.96%
EBITDA Margin	9.57%	15.09%	32.70%	18.64%	16.78%	21.16%	36.14%	23.09%	21.26%
Operating Margin	-3.88%	2.44%	23.69%	7.12%	5.11%	9.69%	27.58%	9.43%	9.35%
EBIT Margin	-4.56%	2.10%	23.42%	6.95%	4.77%	9.57%	27.46%	11.42%	9.48%
Profit (Net Income) Margin	-15.64%	-8.29%	15.67%	-0.89%	-3.96%	1.59%	21.97%	5.10%	-1.34%
Tax Burden Percent	101.02%	101.24%	100.85%	123.08%	100.00%	95.83%	99.54%	104.48%	109.86%
Interest Burden Percent	339.60%	-390.29%	66.36%	-10.40%	-82.95%	17.36%	80.40%	42.77%	-12.89%
Effective Tax Rate	0.00%	0.00%	-0.85%	0.00%	0.00%	5.21%	0.46%	-4.83%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	3.07%	4.59%	12.47%	37.41%	7.01%	4.72%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	1.94%	1.73%	9.31%	34.24%	5.97%	3.04%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	7.96%	7.37%	37.81%	108.88%	20.13%	10.48%
Return on Equity (ROE)	0.00%	0.00%	0.00%	11.03%	11.95%	50.29%	146.29%	27.14%	15.19%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	5.49%	0.00%	0.00%	0.00%	8.78%	10.32%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	2.98%	2.16%	4.52%	13.50%	5.82%	4.91%
Return on Assets (ROA)	0.00%	0.00%	0.00%	-0.38%	-1.80%	0.75%	10.80%	2.60%	-0.69%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	11.03%	11.95%	50.29%	146.29%	27.14%	15.20%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	6.06%	13.27%	18.20%	0.00%	22.35%
Net Operating Profit after Tax (NOPAT)	-120	84	1,638	269	193	531	2,168	587	380
NOPAT Margin	-2.72%	1.71%	23.89%	4.98%	3.57%	9.18%	27.46%	9.89%	6.54%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	1.13%	2.86%	3.17%	3.17%	1.04%	1.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	0.72%	-	-	-	1.60%	1.05%
Cost of Revenue to Revenue	74.71%	40.36%	35.12%	15.16%	68.54%	38.83%	34.60%	11.65%	39.04%
SG&A Expenses to Revenue	16.07%	14.99%	10.40%	14.62%	15.04%	13.65%	9.66%	14.94%	14.60%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.20%	57.20%	41.17%	77.72%	26.38%	51.46%	37.79%	78.97%	51.64%
Earnings before Interest and Taxes (EBIT)	-202	103	1,605	375	258	553	2,168	678	551
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	424	741	2,241	1,006	907	1,223	2,854	1,371	1,235
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	2.56	2.78	2.90	2.51	3.69	3.52
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	3.44	3.76	3.90	3.16	4.54	4.35
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.82	0.82	0.84	0.88	1.36	1.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	46.10	21.95	13.85	17.81	15.77
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	2.17%	4.56%	7.22%	5.62%	6.34%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	1.31	1.34	1.38	1.36	1.70	1.66
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	2.12	2.09	2.02	2.00	2.41	2.30
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	10.38	9.62	8.82	8.17	9.50	8.76
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	24.35	20.11	17.00	14.59	16.51	14.82
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	33.45	19.87	16.79	14.62	16.89	15.28
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	10.70	8.32	7.23	8.25	10.20	11.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19.50	16.08
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	4.44	4.60	4.31	3.36	2.97	2.94
Long-Term Debt to Equity	0.00	0.00	0.00	4.14	4.27	3.99	3.10	2.80	2.78
Financial Leverage	0.00	0.00	0.00	4.09	4.26	4.06	3.18	3.37	3.45
Leverage Ratio	0.00	0.00	0.00	7.23	7.45	7.28	5.79	6.09	6.20
Compound Leverage Factor	0.00	0.00	0.00	-0.75	-6.18	1.26	4.66	2.60	-0.80
Debt to Total Capital	0.00%	0.00%	0.00%	81.63%	82.14%	81.15%	77.05%	74.81%	74.64%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	5.58%	5.87%	6.03%	5.91%	4.19%	4.23%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	76.05%	76.28%	75.12%	71.13%	70.62%	70.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	0.00%	18.37%	17.86%	18.85%	22.95%	25.19%	25.37%
Debt to EBITDA	0.00	0.00	0.00	6.93	6.28	5.46	4.82	4.32	4.04
Net Debt to EBITDA	0.00	0.00	0.00	6.38	5.82	5.15	4.56	4.13	3.92
Long-Term Debt to EBITDA	0.00	0.00	0.00	6.46	5.83	5.05	4.45	4.08	3.81
Debt to NOPAT	0.00	0.00	0.00	22.33	12.98	10.38	8.62	7.68	7.05
Net Debt to NOPAT	0.00	0.00	0.00	20.56	12.03	9.80	8.16	7.34	6.84
Long-Term Debt to NOPAT	0.00	0.00	0.00	20.80	12.05	9.61	7.96	7.25	6.65
Altman Z-Score	0.00	0.00	0.00	0.57	0.54	0.56	0.79	0.93	0.90
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	-0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	0.46	0.36	0.28	0.30	0.29	0.26
Quick Ratio	0.00	0.00	0.00	0.26	0.23	0.16	0.18	0.15	0.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	0.00	0.00	-34,986	-33,972	-33,766	108	191
Operating Cash Flow to CapEx	36.09%	163.13%	219.12%	136.59%	82.69%	154.59%	208.84%	153.89%	152.39%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-69.42	-70.34	-76.05	0.27	0.30
Operating Cash Flow to Interest Expense	0.72	1.98	3.06	1.98	3.51	4.22	2.71	2.26	1.47
Operating Cash Flow Less CapEx to Interest Expense	-1.27	0.77	1.66	0.53	-0.73	1.49	1.41	0.79	0.51
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.43	0.45	0.47	0.49	0.51	0.52
Accounts Receivable Turnover	0.00	0.00	0.00	45.41	35.04	47.44	38.73	43.67	42.84
Inventory Turnover	0.00	0.00	0.00	17.82	16.78	18.03	19.31	18.11	17.96
Fixed Asset Turnover	0.00	0.00	0.00	0.55	0.54	0.56	0.58	0.61	0.61
Accounts Payable Turnover	0.00	0.00	0.00	7.68	8.08	8.63	8.95	8.15	8.59
Days Sales Outstanding (DSO)	0.00	0.00	0.00	8.04	10.42	7.69	9.42	8.36	8.52
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	20.48	21.75	20.25	18.90	20.15	20.32
Days Payable Outstanding (DPO)	0.00	0.00	0.00	47.52	45.17	42.29	40.80	44.80	42.50
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	-19.00	-13.01	-14.35	-12.48	-16.29	-13.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	0.00	35,038	35,179	34,503	35,934	35,517	35,368
Invested Capital Turnover	0.00	0.00	0.00	0.62	1.28	1.36	1.36	0.71	0.72
Increase / (Decrease) in Invested Capital	0.00	0.00	0.00	0.00	35,179	34,503	35,934	479	189
Enterprise Value (EV)	0.00	0.00	0.00	45,798	47,075	47,444	48,951	60,387	58,536
Market Capitalization	12,440	13,155	18,531	17,641	18,578	19,755	21,617	34,123	32,351
Book Value per Share	$0.00	$0.00	$0.00	$5.88	$2.75	$5.20	$6.56	$6.89	$6.79
Tangible Book Value per Share	$0.00	$0.00	$0.00	$4.38	$2.03	$3.87	$5.22	$5.60	$5.50
Total Capital	0.00	0.00	0.00	37,454	37,421	36,149	37,453	36,725	36,200
Total Debt	0.00	0.00	0.00	30,572	30,739	29,335	28,856	27,474	27,018
Total Long-Term Debt	0.00	0.00	0.00	28,483	28,544	27,154	26,642	25,936	25,487
Net Debt	0.00	0.00	0.00	28,157	28,497	27,689	27,334	26,264	26,185
Capital Expenditures (CapEx)	1,075	697	837	675	2,138	1,319	577	592	607
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	0.00	-6,541	-7,959	-9,082	-7,947	-7,911	-7,903
Debt-free Net Working Capital (DFNWC)	0.00	0.00	0.00	-4,126	-5,717	-7,436	-6,425	-6,701	-7,070
Net Working Capital (NWC)	0.00	0.00	0.00	-6,215	-7,912	-9,617	-8,639	-8,239	-8,601
Net Nonoperating Expense (NNE)	573	491	564	317	407	439	433	284	458
Net Nonoperating Obligations (NNO)	0.00	0.00	0.00	28,156	28,497	27,689	27,337	26,266	26,186
Total Depreciation and Amortization (D&A)	626	638	636	631	649	670	686	693	684
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	-30.29%	-35.27%	-38.75%	-32.46%	-31.62%	-31.08%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	-19.11%	-25.33%	-31.73%	-26.25%	-26.78%	-27.81%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	-28.78%	-35.06%	-41.03%	-35.29%	-32.93%	-33.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($0.04)	($0.17)	$0.07	$1.37	$0.23	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.02	($0.17)	$0.07	$1.26	$0.28	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	2.43B	2.43B	2.43B	1.34B	1.35B	1.35B
Normalized Net Operating Profit after Tax (NOPAT)	-120	84	1,137	269	193	531	2,168	392	380
Normalized NOPAT Margin	-2.72%	1.71%	16.59%	4.98%	3.57%	9.18%	27.46%	6.60%	6.54%
Pre Tax Income Margin	-15.48%	-8.19%	15.54%	-0.72%	-3.96%	1.66%	22.07%	4.88%	-1.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.37	0.18	2.68	0.80	0.51	1.14	4.88	1.68	0.88
NOPAT to Interest Expense	-0.22	0.15	2.73	0.58	0.38	1.10	4.88	1.46	0.60
EBIT Less CapEx to Interest Expense	-2.37	-1.04	1.28	-0.64	-3.73	-1.59	3.58	0.21	-0.09
NOPAT Less CapEx to Interest Expense	-2.22	-1.07	1.34	-0.87	-3.86	-1.63	3.58	-0.01	-0.36
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Carnival Co. &'s Financials

When does Carnival Co. &'s financial year end?

According to the most recent income statement we have on file, Carnival Co. &'s fiscal year ends in November. Their fiscal year 2024 ended on November 30, 2024.

How has Carnival Co. &'s net income changed over the last 9 years?

Carnival Co. &'s net income appears to be on an upward trend, with a most recent value of $1.92 billion in 2024, rising from $1.76 billion in 2015. The previous period was -$74 million in 2023.

What is Carnival Co. &'s operating income?

Carnival Co. &'s total operating income in 2024 was $3.57 billion, based on the following breakdown:

Total Gross Profit: $15.65 billion
Total Operating Expenses: $12.07 billion

How has Carnival Co. & revenue changed over the last 9 years?

Over the last 9 years, Carnival Co. &'s total revenue changed from $15.71 billion in 2015 to $25.02 billion in 2024, a change of 59.2%.

How much debt does Carnival Co. & have?

Carnival Co. &'s total liabilities were at $39.80 billion at the end of 2024, a 5.8% decrease from 2023, and a 157.4% increase since 2015.

How much cash does Carnival Co. & have?

In the past 9 years, Carnival Co. &'s cash and equivalents has ranged from $395 million in 2017 to $9.51 billion in 2020, and is currently $1.21 billion as of their latest financial filing in 2024.

How has Carnival Co. &'s book value per share changed over the last 9 years?

Over the last 9 years, Carnival Co. &'s book value per share changed from 29.36 in 2015 to 6.89 in 2024, a change of -76.5%.

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This page (NYSE:CCL) was last updated on 4/15/2025 by MarketBeat.com Staff

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Carnival Co. & (CCL) Financials

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Carnival Co. & (CCL) Financials

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