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CCL · NYSE · United States · Water Transportation
In shortCarnival Corp Ltd. is profitable, generates cash and carries heavy debt, with revenue growing (+6.4% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 16.8% | 73/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 10.4% | 61/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 25.6% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 11.5% | 76/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.32× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 2.17× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 3.40× | 17/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 3.32× | 17/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.09 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 9.8% | 59/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.94× | 81/100 |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 242.1% | 0/100 |
| Operating margin volatility | 168.0% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 29.8% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 1,908 | 12,168 | 21,593 | 25,021 | 26,622 |
| Cost of revenue | 4,655 | 11,757 | 14,317 | 15,638 | – |
| Gross profit | (2,747) | 411 | 7,276 | 9,383 | – |
| Selling, general & admin | 1,885 | 2,515 | 2,950 | 3,252 | 3,402 |
| Operating income | (7,089) | (4,379) | 1,956 | 3,574 | 4,483 |
| Interest expense | 1,601 | 1,609 | 2,066 | 1,755 | 1,349 |
| Pre-tax income | (9,522) | (6,080) | (62) | 1,915 | 2,772 |
| Income tax | (21) | 14 | 13 | (1) | 12 |
| Net income | (9,501) | (6,093) | (74) | 1,916 | 2,760 |
| Diluted EPS | −$8.46 | −$5.16 | −$0.06 | $1.44 | $2.02 |
| Diluted shares (millions) | 1,123 | 1,180 | 1,262 | 1,398 | 1,402 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
0.09 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
8/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Aug 31, 2026 · Data updated Sep 29, 2026