Carnival

Consumer Discretionary Hotels, Resorts & Cruise Lines Miami, Florida Last filing Jan 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$26.6B
                    3y CAGR +29.8%
                    
                    P98
                    
                    n/a
                    
                    Net income
                    FY2025
                
$2.8B
                    Net margin +10.4%
                    
                    P56
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$51.7B
                    ROA +5.3%
                    
                    P32
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$6.2B
                    FCF margin +9.8%
                    
                    P55
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 1 year

Total assets $51.7B

Total liabilities $13.1B

Shareholders equity $12.3B

Account	2025	Trend
Assets
Cash and Cash Equivalents	3.8%
Accounts Receivable	1.3%
Inventory	1.0%
Prepaid Expenses	2.1%
Other Current Assets	2.1%
Total Current Assets	8.2%
Property,Plant and Equipment	84.1%
Operating Lease Assets	2.6%
Goodwill	1.1%
Intangible Assets	2.3%
Other Noncurrent Assets	1.7%
Total Assets	100.0%
Liabilities
Accounts Payable	2.4%
Accrued Liabilities	4.3%
Deferred Revenue	13.2%
Current Portion of Long Term Debt	5.0%
Operating Lease Liabilities	0.3%
Other Current Liabilities	2.1%
Total Current Liabilities	25.3%
Long Term Debt	46.5%
Operating Lease Liabilities Noncurrent	2.3%
Other Noncurrent Liabilities	2.1%
Total Liabilities	25.3%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	33.4%
Retained Earnings	9.3%
Treasury Stock	16.2%
Accumulated Other Comprehensive Income	-3.5%
Total Stockholders Equity	23.8%
Total Liabilitiesand Equity	100.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 1 year

Revenue $26.6B

Operating income $4.5B

Net income $2.8B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	51.5%
Expenses Selling,General and Administrative	6.6%
Expenses Depreciation and Amortization	5.4%
Expenses Share Based Compensation	0.2%
Expenses Restructuring and Asset Impairment	0.0%
Expenses Operating Expenses	30.9%
Other Income Expense Operating Income	8.7%
Other Income Expense Interest Income	0.1%
Other Income Expense Other Income/expense	-0.0%
Other Income Expense Income Before Tax	5.4%
Income Tax Income Tax Expense	0.0%
net Income net Income	5.3%
net Income Comprehensive Income	5.7%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	2.5%
Earnings Per Share Weighted Average Shares Diluted	2.7%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 1 year

Operating cash flow $6.2B

Investing cash flow $-3.3B

Financing cash flow $-2.2B

Account	2025	Trend
CashFlow
Operating Activities net Income	5.3%
Operating Activities Depreciation and Amortization	5.4%
Operating Activities Stock Based Compensation	0.2%
Operating Activities Deferred Income Taxes	0.0%
Operating Activities Changes In Operating Assets and Liabilities	0.7%
Operating Activities Other Non Cash Items	0.1%
Operating Activities net Cash From Operating Activities	12.0%
Investing Activities Capital Expenditures	7.0%
Investing Activities Other Investing Activities	-0.1%
Investing Activities net Cash From Investing Activities	-6.4%
Financing Activities Proceeds From Debt	21.6%
Financing Activities Repayment of Debt	0.0%
Financing Activities Other Financing Activities	0.0%
Financing Activities net Cash From Financing Activities	-4.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%
Cash Reconciliation net Change In Cash	1.4%
Cash Reconciliation Cash At Beginning of Period	3.8%
Cash Reconciliation Cash At End of Period	3.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	—
Operating margin	+16.8%
Net margin	+10.4%
FCF margin	+9.8%
Growth
Revenue CAGR (3y)	+29.8%
Returns
ROE	+22.5%
ROA	+5.3%
ROIC	+12.1%
Liquidity
Current ratio	0.32x
Quick ratio	0.20x
Leverage
D/E	1.07x
Interest coverage	—
Efficiency
Asset turnover	0.52x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Carnival

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

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Assets, liabilities, and equity

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