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Carnival Corporation & plc

Carnival Corporation & plc

NYSE•CUK
CEO: Mr. Micky Meir Arison
Sector: Consumer Cyclical
Industry: Leisure
Listing Date: 2000-10-23
Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches. The company offers its services under the Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises, and Cunard brand. Additionally, it sells its cruises primarily through travel agents, tour operators, vacation planners, and websites. Carnival Corporation & plc was founded in 1972 and is headquartered in Miami, Florida.
Contact Information
3655 N.W. 87th Avenue, Miami, FL, 33178-2428, United States
305-599-2600
www.carnivalcorp.com
Market Cap
$32.04B
P/E (TTM)
13.4
30.2
Dividend Yield
--
52W High
$29.80
52W Low
$13.65
52W Range
67%
3.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$8.15B+3.26%
4-Quarter Trend

EPS

$1.41+2.92%
4-Quarter Trend

FCF

$736.00M+17.20%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Total Revenues Climb 6.3% Total Revenues reached $20.29B USD for nine months, marking a 6.3% increase from $19.08B USD last year.
Net Income Jumps 45% Net Income was $2.34B USD, showing substantial improvement, increasing 45.0% compared to $1.61B USD reported previously.
Operating Income Strong Growth Operating Income grew to $3.75B USD, reflecting a 24.4% increase over the prior period's $3.01B USD result.
Interest Expense Significantly Reduced Net interest expense decreased by 23% to $1.03B USD, driven by lower total debt and reduced average interest rates.

Risk Factors

Fuel Cost Volatility Threat Fuel cost volatility remains a key uncertainty likely impacting profitability in both the short and long term outlooks.
Climate Regulation Impact Rising Increasing focus on GHG reduction and evolving regulatory requirements, like EU ETS, may negatively impact future financial results.
Debt Covenant Breach Risk Failure to comply with debt covenants could trigger cross-acceleration clauses, potentially causing substantially all outstanding debt to become due.
Ongoing Litigation Exposure Two purported class actions regarding COVID-19 onboard claims remain pending in Australia and Italy, subject to uncertain outcomes.

Outlook

Active Debt Restructuring Continues Management executed $9.6B USD in debt prepayments during 2025, alongside $366M USD in extinguishment and modification costs.
New Ship Capital Commitments New ship growth capital commitments total $0.9B USD for the remainder of 2025, supporting future fleet expansion plans.
Brand Consolidation Complete P&O Cruises (Australia) brand was sunset in March 2025, folding operations into the larger Carnival Cruise Line segment.
EU ETS Phase-In Escalates EU ETS impact escalates to cover 70% of emissions in 2025, increasing regulatory cost exposure for operations.

Peer Comparison

Revenue (TTM)

Stellantis N.V.STLA
$349.65B
+5.3%
Ford Motor CompanyF
$189.59B
+3.7%
Lennar CorporationLEN
$34.77B
-4.7%

Gross Margin (Latest Quarter)

Expedia Group, Inc.EXPE
90.0%
+0.2 pp
eBay Inc.EBAY
70.9%
-0.9 pp
Yum! Brands, Inc.YUM
47.4%
+0.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
F$51.31B11.110.3%54.6%
LVS$42.29B27.468.1%73.4%
YUM$41.46B29.7-18.6%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+11.1%
Steady Growth
4Q Net Income CAGR
+82.8%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Aug 31, 2025|Filed: Sep 29, 2025|
    Revenue: $8.15B+3.3%
    |
    EPS: $1.41+2.9%
    Beat

  • Form 10-Q - Q2 2025

    Period End: May 31, 2025|Filed: Jun 26, 2025|
    Revenue: $6.33B+9.5%
    |
    EPS: $0.43+514.3%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Feb 28, 2025|Filed: Mar 25, 2025|
    Revenue: $5.81B+7.5%
    |
    EPS: $-0.06-64.9%
    Miss

  • Form 10-K - FY 2024

    Period End: Nov 30, 2024|Filed: Jan 27, 2025|
    Revenue: $25.02B+15.9%
    |
    EPS: $1.50+2600.0%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Aug 31, 2024|Filed: Sep 30, 2024|
    Revenue: $7.90B+15.2%
    |
    EPS: $1.37+61.2%
    Beat

  • Form 10-Q - Q2 2024

    Period End: May 31, 2024|Filed: Jun 27, 2024|
    Revenue: $5.78B+17.7%
    |
    EPS: $0.07-121.9%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Feb 29, 2024|Filed: Mar 27, 2024|
    Revenue: $5.41B+22.0%
    |
    EPS: $-0.17-69.1%
    Beat

  • Form 10-K - FY 2023

    Period End: Nov 30, 2023|Filed: Jan 26, 2024|
    Revenue: $21.59B+77.4%
    |
    EPS: $-0.06+98.8%
    Beat