Income StatementBalance SheetCash FlowSegments
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Carnival Corporation Income Statement

Revenue, expenses, and profitability over time

Carnival Corporation generated $27.0B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $3.1B with a 11.48% net margin. Diluted EPS is $2.27, which grew 0.5% year-over-year. Based on the Q4 2025 filing.

Total Revenue (TTM)$27.0BGross Profit (TTM)$10.4BOperating Income (TTM)$4.5BNet Income (TTM)$3.1BEps Diluted (TTM)$2.27
Latest FilingQ4 2025
Report Date2026-03-27
Market Cap$34.9B
P/E Ratio11.27
ROE27.88%

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—————$0.2
Other Comprehensive Income (Loss), Other Gains and Losses, Net of Tax-$8.0M$1.0M$6.0M$20.0M$0.0-$1.0M
Capital Expenditures$592.0M$607.0M$851.0M$647.0M$1.5B$566.0M
Change in Deferred Revenue$80.0M$503.0M$1.1B-$1.4B$137.0M$585.0M
Change in Other Liabilities—-$443.0M$61.0M$22.0M—-$296.0M
Common Stock Dividends Per Share—————$0.2
Comprehensive Income Including Noncontrolling Interest—-$86.0M———$335.0M
Other Comprehensive Income (Loss), Net of Tax-$81.0M-$12.0M$233.0M$39.0M—$72.0M
OCI Attributable to Noncontrolling Interest—$4.0M———$4.0M
Dividends per share declared—————$0.2
Other comprehensive income (loss), net of tax-$74.0M-$12.0M$227.0M$18.0M—$73.0M
Comprehensive Income Attributable to Parent—-$86.0M———$335.0M
Change in Inventories—$17.0M-$50.0M-$2.0M—$3.0M
Effect of Exchange Rate on Cash (Continuing Operations)-$18.0M-$6.0M$30.0M$6.0M—-$2.0M
Net Change in Cash and Restricted Cash-$311.0M-$376.0M$1.3B-$380.0M$167.0M-$501.0M
Value of Treasury Stock Reissued$0.0$0.0$0.0$0.0$0.0$0.0
OCI Attributable to Parent-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Comprehensive Income Including Noncontrolling Interest—-$86.0M———$335.0M
Number of reportable segments0.004.000.000.000.004.00
Other comprehensive income (loss), after-tax-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Other investing activities, net—$9.0M$36.0M-$113.0M$0.0-$3.0M
Dividends per share declared—————$0.2
Common Stock Dividends Per Share Declared—————$0.2
Comprehensive income (loss), including noncontrolling interest—-$86.0M———$335.0M
Adjusted Operating Costs And Expenses$3.9B$3.8B———$3.9B
Adjusted Operating Income (Loss)$889.0M$543.0M———$623.0M
Adjusted Selling, General And Administrative Expense$807.8M$847.0M———$907.0M
Adjustments to Reconcile Net Earnings to Cash Provided by (Used in) Operating Activities, Including Net Earnings Attributable To Parent-$1.0B-$944.0M-$1.3B-$2.8B-$1.3B-$1.1B
Amortization Of Financing Costs And Discounts$34.0M$30.0M$30.0M$28.0M$28.0M$27.0M
Stock options excluded as their inclusion would be anti-dilutive (in shares)-$260.0M$92.0M$0.0——$0.0
Dividends declared (in dollars per share)—————$0.2
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$221.0M-$90.0M$798.0M$1.9B$327.0M$331.0M
Less: comprehensive income attributable to noncontrolling interest—$4.0M———$4.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—-$86.0M———$335.0M
Commissions, transportation and other$723.0M$850.0M$780.0M$973.0M$728.0M$872.0M
Food$358.0M$354.0M$372.0M$398.0M$375.0M$382.0M
Fuel$462.0M$465.0M$468.0M$451.0M$424.0M$397.0M
Onboard and other$634.0M$599.0M$671.0M$883.0M$663.0M$618.0M
Other operating$1.0B$858.0M$955.0M$1.0B$1.0B$986.0M
Payroll and related$652.0M$640.0M$640.0M$636.0M$673.0M$684.0M
Debt instrument, convertible, equity component minimum threshold$0.0$5.0B$0.0——$5.0B
Debt instrument, convertible, liquidity component minimum threshold$375.0M$1.5B$0.0$0.0$0.0$1.5B
Dividends, Common Stock, Cash—————$208.0M
Greenhouse gas regulatory expense—$6.0M$23.0M$34.0M$28.0M$15.0M
Accounts payable—-$31.0M$21.0M$25.0M$46.0M-$33.0M
Increase (decrease) in contract liabilities and current deferred income$80.0M$503.0M$1.1B-$1.4B$137.0M$585.0M
Increase (Decrease) in Inventories—$17.0M-$50.0M-$2.0M—$3.0M
Increase (Decrease) in Other Operating Assets—$64.0M$145.0M-$71.0M$76.0M$149.0M
Other liabilities—-$443.0M$61.0M$22.0M—-$296.0M
Effect of equity units (in shares)—04M5M—8M
Exchange movements-$10.0M-$1.0M$17.0M$3.0M—$4.0M
Interest Expense Nonoperating$403.0M$377.0M$341.0M$317.0M$314.0M$291.0M
After tax effect of debt interest—$0.0———$0.0
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$631.0M-$690.0M-$521.0M-$1.1B$0.0-$1.2B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$574.0M-$605.0M-$586.0M-$624.0M-$1.5B-$597.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$911.0M$925.0M$2.4B$1.4B$1.5B$1.3B
Net Income Loss Attributable To Noncontrolling Interest—$4.0M———$4.0M
Net Income (Loss) Available to Common Stockholders, Diluted$371.0M-$78.0M$582.0M$1.9B$457.0M$259.0M
Non-cash lease expense$37.0M$37.0M$40.0M$42.0M$42.0M$42.0M
Number of reportable segments$0.0$4.0$0.0$0.0$0.0$4.0
Foreign currency translation gains (losses)-$74.0M-$12.0M$227.0M$18.0M—$73.0M
Other comprehensive income (loss)-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Other comprehensive income/(loss)-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Other income, net (Note 6)$118.0M$12.0M-$20.0M-$2.0M—-$47.0M
All other operating activities$4.0M$24.0M$48.0M-$22.0M$8.0M$72.0M
Payments for Advance to Affiliate$16.0M$9.0M———$37.0M
Payment for (Proceeds from) Other Investing Activity$0.0$0.0$45.0M-$113.0M$0.0-$3.0M
Payments of Debt Issuance Costs$81.0M$24.0M$17.0M$27.0M$76.0M$4.0M
Payments of Dividends—$0.0———$208.0M
Payments to Acquire Property, Plant, and Equipment$592.0M$607.0M$851.0M$647.0M$1.5B$566.0M
Proceeds From Issuance Of Other Long Term Debt$47.0M$3.0B$1.1B$4.5B$2.5B$0.0
Financing — other$0.0-$1.0M$11.0M$3.0M$0.0-$9.0M
Dispositions of property, plant, and equipment$14.5M$11.0M———$3.0M
Repayments Of Other Long Term Debt$597.0M$3.4B$1.6B$5.6B$2.3B$945.0M
Revenue From Contract With Customer Excluding Assessed Tax$5.9B$5.8B$6.3B$8.2B$6.3B$6.2B
Property, plant, and equipment additions$1.2B$607.0M———$566.0M
Segment Reporting, Other Segment Item, Amount—$0.0———$16.0M
Stock-based compensation$15.0M$18.0M$27.0M$25.0M$28.0M$28.0M
Stock Issued During Period, Value, Conversion of Convertible Securities$103.8M————$618.0M
Issuance of common stock and reissuance of treasury stock under equity incentive plans, net of forfeitures, value$0.0$0.0$0.0$0.0$0.0$0.0
Stockholders' Equity, Other-$18.0M-$17.0M-$27.0M-$31.0M-$32.0M-$20.0M
Comprehensive Income (Loss), Total—-$86.0M———$335.0M
Comprehensive Income Attributable to Noncontrolling Interests—$4.0M———$4.0M
Comprehensive Income, Including Noncontrolling Interest—-$86.0M———$335.0M
Foreign Currency Translation Adjustment, Net of Tax-$74.0M-$12.0M$227.0M$18.0M—$73.0M
Other Comprehensive Income (Loss)$221.0M-$90.0M$798.0M$1.9B$327.0M$331.0M
Common Stock Dividends Per Share Declared—————$0.2
Comprehensive Income Including Noncontrolling Interest—-$86.0M———$335.0M
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Total Comprehensive Income—-$86.0M———$335.0M
Comprehensive Income, Noncontrolling Interest—$4.0M———$4.0M
Common Stock Dividends Per Share Declared—————$0.2
OCI Net of Tax, Parent-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Cash Dividends Paid—$0.0———$208.0M
Comprehensive Income—-$86.0M———$335.0M
OCI Attributable to Parent-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Stockholders' Equity, Other-$18.0M-$21.0M-$27.0M-$31.0M-$28.0M-$20.0M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—————$0.2
Common Stock Dividends Per Share (Declared)—————$0.2
Common Stock Dividends Per Share Declared—————$0.2
Basic earnings per share$0.23$-0.06$0.43$1.41$0.32$0.19
Diluted earnings per share$0.28$-0.06$0.42$1.33$0.33$0.19
Common Stock Dividends Per Share Declared—————$0.2
Dividends Per Share Declared—————$0.2
Common Stock Dividends Per Share Declared—————$0.2
Incremental Shares from Convertible Debt—084M84M—4M
Common Stock Dividends Per Share Declared—————$0.2
Common stock dividends per share declared—————$0.2
Dividends Per Share Declared—————$0.2
Dividends per share declared—————$0.2
Antidilutive Securities Excluded from EPS-260M92M0——0
Common Stock Dividends Per Share Declared—————$0.2
Dividends per share declared—————$0.2
Dividends per share declared—————$0.2
Dividends per Share Declared—————$0.2
Dividends per share declared—————$0.15
Common Stock Dividends Per Share Declared—————$0.2
Common Stock Dividends Per Share Declared—————$0.2
Common stock dividends per share declared—————$0.2
Common Stock Dividends Per Share Declared—————$0.2
Common Stock Dividends Per Share Declared—————$0.2
Common stock dividends per share declared—————$0.2
Weighted-average shares, basic—1.3B1.3B1.3B—1.4B
Weighted-average shares, diluted—1.3B1.4B1.4B—1.4B

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$15.0M$18.0M$27.0M$25.0M$28.0M$28.0M
Share-Based Compensation Expense$15.0M$18.0M$27.0M$25.0M$28.0M$28.0M
Compensation and benefits$15.0M$18.0M$27.0M$25.0M$28.0M$28.0M
Shipping and Handling Costs$3.8B$3.8B$3.9B$4.4B$3.9B$3.9B
Depreciation and amortization$659.0M$654.0M$692.0M$717.0M$727.0M$696.0M
Other Segment Items$118.0M$12.0M-$20.0M-$2.0M—-$47.0M
Stock-based compensation expense$15.0M$18.0M$27.0M$25.0M$28.0M$28.0M
Other operating expenses—$26.0M$46.0M-$22.0M$8.0M$72.0M
Restructuring charges$5.3M$0.0———$0.0
Selling, general and administrative$887.0M$848.0M$816.0M$779.0M$959.0M$924.0M
Share-Based Compensation$15.0M$18.0M$27.0M$25.0M$28.0M$28.0M
Total operating expenses$5.4B$5.3B$5.4B$4.4B$900.0M$3.9B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense-$14.0M$7.0M$17.0M$6.0M—$17.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Dividends Declared (Per Share)—————$0.2
Net Income Allocated to Common (Diluted)$371.0M-$78.0M$582.0M$1.9B$457.0M$259.0M
Comprehensive income (loss), including noncontrolling interest—-$86.0M———$335.0M
Cash Dividends, Common Stock—————$208.0M
Net Income Available to Common Stockholders (Diluted)$371.0M-$78.0M$582.0M$1.9B$457.0M$259.0M
Net income attributable to noncontrolling interests—$4.0M———$4.0M
OCI Attributable to Parent-$81.0M-$12.0M$233.0M$39.0M—$72.0M
Net income$303.0M-$78.0M$565.0M$1.9B$421.0M$258.0M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (loss) on extinguishment of debt-$1.0M-$249.0M-$4.0M-$105.0M-$43.0M$0.0
Other Charges$118.0M$12.0M-$20.0M-$2.0M—-$47.0M
Interest expense$403.0M$377.0M$341.0M$317.0M$314.0M$291.0M
Interest income$16.0M$7.0M$12.0M$15.0M$17.0M$12.0M
Change in Accounts Payable—-$31.0M$21.0M$25.0M$46.0M-$33.0M
Change in Receivables—-$33.0M$11.0M$85.0M$21.0M-$17.0M
Other income (expense), net-$271.0M-$614.0M-$353.0M-$2.0M—-$47.0M
Gains (Losses) on Extinguishment of Debt Before Write-off$0.0-$252.0M-$4.0M-$111.0M-$42.0M$0.0
Payments of Debt Extinguishment Costs$0.0$197.0M$0.0$45.0M$30.0M$0.0
Premiums paid to extinguish debt$0.0$197.0M$0.0$45.0M$30.0M$0.0

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$2.1B$2.0B$2.4B$3.8B——
Operating income$560.0M$543.0M$934.0M$2.3B$735.0M$607.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$290.0M-$68.0M$582.0M$1.9B$401.0M$280.0M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$5.9B$5.8B$6.3B$8.2B$6.3B$6.2B