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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
$40.90B
P/E (TTM)
15.0
28.2
Dividend Yield
--
52W High
$32.82
52W Low
$13.65
52W Range
91%
Rank49Top 66.7%
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: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$6.33B+6.60%
4-Quarter Trend

EPS

$0.32+88.23%
4-Quarter Trend

FCF

$12.00M-96.24%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Record Revenue and Income Total Revenues reached $26.62B, driven by $17.42B ticket revenue (up 5.8%) and $9.20B onboard revenue (up 7.5%).
Operating Income Surge Operating Income hit $4.48B, marking a 25% increase over prior year results, reflecting strong commercial execution.
Balance Sheet Deleveraging Successfully completed $19B refinancing plan, reducing total debt by over $10B since January 2023 peak levels.
Record Customer Deposits Ended 2025 with record year-end customer deposits totaling $6.83B, showing nearly 7% growth over prior year.

Risk Factors

Global Uncertainty Impact Geopolitical uncertainty, war, inflation, and higher interest rates could cause cruise demand decline impacting financial condition and operations.
Adverse Weather Exposure Adverse weather frequency/severity may materially impact operations, disrupt itineraries, and disrupt critical goods and services supply chains.
Cybersecurity Threat Escalation Cybersecurity incidents and data privacy breaches may disrupt operations, leading to potential fines, penalties, and reputational damage.
Fuel and Emission Costs Increases in global fuel costs and costs associated with new GHG emission regulations may adversely impact scheduled itineraries and operating costs.

Outlook

Corporate Structure Unification Boards recommended unifying DLC structure under Carnival Corporation, aiming for single global share price, expected completion Q2 2026.
Sustainability Goal Achievement Pursuing 2050 net zero aspiration; achieved 2030 GHG intensity reduction goal ahead of schedule, cutting emissions over 20%.
Future Reinvestment Strategy Focus remains on reinvesting for shareholder value via commercial excellence, disciplined newbuild strategy, and destination development programs.
Dividend Reinstatement Confirmed Reinstated quarterly dividend, declaring initial $0.15 per share payment in February 2026, reflecting balance sheet confidence.

Peer Comparison

Revenue (TTM)

Stellantis N.V.STLA
$349.65B
+5.3%
Ford Motor CompanyF
$189.59B
+3.7%
Lennar CorporationLEN
$34.13B
-3.8%

Gross Margin (Latest Quarter)

Expedia Group, Inc.EXPE
91.5%
+1.0pp
eBay Inc.EBAY
70.9%
-0.9pp
Copart, Inc.CPRT
46.5%
+1.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
F$53.70B11.610.3%54.6%
DHI$46.03B13.913.8%16.0%
YUM$44.73B28.7-20.6%145.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.9%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 19, 2026
|
EPS:-
|
Revenue:$6.13B
Reports
Financials
All Years

  • Form 10-K - FY 2025

    Period End: Nov 30, 2025|Filed: Jan 27, 2026|
    Revenue: $26.62B+6.4%
    |
    EPS: $2.10+40.0%
    Beat

  • 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+492.3%
    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+2659.7%
    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: $0.07-122.7%
    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