Carnival

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

                    Revenue
                    FY2025
                
$26.6B
                    3y CAGR +29.8%
                    
                    P98
                    
                    +6.4%
                    
                    Net income
                    FY2025
                
$2.8B
                    Net margin +10.4%
                    
                    P56
                    
                    +44.1%
                    
                    Total assets
                    FY2025
                
$51.7B
                    ROA +5.3%
                    
                    P32
                    
                    +5.4%
                    
                    Operating cash flow
                    FY2025
                
$6.2B
                    FCF margin +9.8%
                    
                    P55
                    
                    +5.0%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 5 years

Total assets $51.7B

Total liabilities $13.1B

Shareholders equity $12.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+59.1%	-49.5%	-59.6%	-32.7%	—
Accounts Receivable	—	—	—	—	—
Inventory	—	—	—	—	—
Prepaid Expenses	—	—	—	—	—
Other Current Assets	+3.6%	-39.4%	+171.0%	+72.0%	—
Total Current Assets	+24.9%	-35.9%	-29.7%	-26.1%	—
Property,Plant and Equipment	—	—	—	—	—
Operating Lease Assets	—	—	—	—	—
Goodwill	+0.0%	+0.0%	+0.0%	+0.0%	—
Intangible Assets	—	—	—	—	—
Other Noncurrent Assets	+14.8%	+6.9%	-71.2%	+25.1%	—
Total Assets	+5.4%	-0.1%	-5.0%	-3.1%	—
Liabilities
Accounts Payable	+9.9%	-3.0%	+11.2%	+31.7%	—
Accrued Liabilities	—	—	—	—	—
Deferred Revenue	—	—	—	—	—
Current Portion of Long Term Debt	—	—	—	—	—
Operating Lease Liabilities	—	—	—	—	—
Other Current Liabilities	—	—	—	—	—
Total Current Liabilities	+12.7%	+1.2%	+8.3%	+1.9%	—
Long Term Debt	—	—	—	—	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—
Other Noncurrent Liabilities	+8.4%	-8.4%	+24.0%	-14.6%	—
Total Liabilities	—	—	—	—	—
Equity
Preferred Stock	-100.0%	+0.0%	+0.0%	+0.0%	—
Common Stock	—	—	—	—	—
Additional Paid In Capital	+0.7%	+2.7%	-0.9%	+10.3%	—
Retained Earnings	—	—	—	—	—
Treasury Stock	—	—	—	—	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	—	—	—	—	—
Total Liabilitiesand Equity	—	—	—	—	—

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $26.6B

Operating income $4.5B

Net income $2.8B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	—	—	—	—	—
Expenses Selling,General and Administrative	—	—	—	—	—
Expenses Depreciation and Amortization	—	—	—	—	—
Expenses Share Based Compensation	—	—	—	—	—
Expenses Restructuring and Asset Impairment	—	—	—	—	—
Expenses Operating Expenses	—	—	—	—	—
Other Income Expense Operating Income	—	—	—	—	—
Other Income Expense Interest Income	—	—	—	—	—
Other Income Expense Other Income/expense	—	—	—	—	—
Other Income Expense Income Before Tax	—	—	—	—	—
Income Tax Income Tax Expense	—	—	—	—	—
net Income net Income	—	—	—	—	—
net Income Comprehensive Income	—	—	—	—	—
Earnings Per Share Basic Eps	+40.0%	+2600.0%	+98.8%	+39.0%	—
Earnings Per Share Diluted Eps	+40.3%	+2500.0%	+98.8%	+39.0%	—
Earnings Per Share Weighted Average Shares Basic	+3.0%	+1.0%	+6.9%	+5.1%	—
Earnings Per Share Weighted Average Shares Diluted	+0.3%	+10.8%	+6.9%	+5.1%	—

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 5 years

Operating cash flow $6.2B

Investing cash flow $-3.3B

Financing cash flow $-2.2B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+44.1%	+2689.2%	+98.8%	+35.9%	—
Operating Activities Depreciation and Amortization	+9.1%	+7.9%	+4.2%	+1.9%	—
Operating Activities Stock Based Compensation	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—
Operating Activities Other Non Cash Items	—	—	—	+58.4%	—
Operating Activities net Cash From Operating Activities	+5.0%	+38.4%	+356.3%	+59.4%	—
Investing Activities Capital Expenditures	—	—	—	—	—
Investing Activities Other Investing Activities	-97.1%	+74.6%	-238.1%	+3333.3%	—
Investing Activities net Cash From Investing Activities	+26.8%	-61.4%	+41.1%	-34.5%	—
Financing Activities Proceeds From Debt	+260.3%	+4.5%	-58.9%	-44.7%	—
Financing Activities Repayment of Debt	-100.0%	-29.0%	+269.2%	-65.2%	—
Financing Activities Other Financing Activities	+1100.0%	-92.3%	+1400.0%	+85.7%	—
Financing Activities net Cash From Financing Activities	+15.3%	+49.2%	-242.3%	-48.5%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+337.5%	-147.1%	+121.5%	-507.7%	—
Cash Reconciliation net Change In Cash	+160.4%	+66.6%	-22.5%	-311.2%	—
Cash Reconciliation Cash At Beginning of Period	—	—	—	—	—
Cash Reconciliation Cash At End of Period	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	+37.5%	+33.7%	+3.4%	-144.0%
Operating margin	+16.8%	+14.3%	+9.1%	-36.0%	-371.5%
Net margin	+10.4%	+7.7%	-0.3%	-50.1%	-498.0%
FCF margin	+9.8%	+5.2%	+4.6%	-54.3%	-404.4%
Growth
Revenue CAGR (3y)	+29.8%	+135.8%	+56.9%	-16.4%	-53.4%
Returns
ROE	+22.5%	+20.7%	-1.1%	-86.2%	-78.2%
ROA	+5.3%	+3.9%	-0.2%	-11.8%	-17.8%
ROIC	+12.1%	+10.1%	+5.6%	-12.4%	-21.1%
Liquidity
Current ratio	0.32x	0.29x	0.46x	0.71x	0.97x
Quick ratio	0.20x	—	—	—	—
Leverage
D/E	1.07x	4.30x	6.14x	6.32x	3.39x
Interest coverage	—	—	0.95x	-2.72x	-4.43x
Efficiency
Asset turnover	0.52x	0.51x	0.44x	0.24x	0.04x
Cash conversion cycle	—	—	—	—	—

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Carnival

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