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Carnival Corporation CCL Q4 2025 earnings

Reported January 27, 2026

Revenue$6.3BBeat by $191.0M
EPS$0.30Beat by $0.12
Revenue estimate$6.1B
EPS estimate$0.18

Next report

Oct 5, 2026 (in a month)
Revenue estimate$8.4B
EPS estimate$1.35

Financials

Q4 2025

Income statement

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Revenue$6.3B+6.6%
Operating income$735.0M+31.0%
Net income$422.0M+39.3%
EPS (diluted)$0.31+34.8%

Balance sheet

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Cash & equivalents$2.0B+59.1%
Total debt$31.3B+0.6%
Total equity$12.3B+32.6%
Total assets$51.7B+5.4%

Cash flow

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Operating cash flow$1.5B+66.6%
CapEx$1.5B+154%
Free cash flow$12.0M-96.2%

Valuation & ratios

Valuation

as of 11/30/25
See full
Market cap$33.85B-0.8%
Enterprise value$63.23B-1.3%
P/E12.3×-5.5×
P/S1.3×-0.1×

Profitability

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Operating margin16.8%+2.6pp
Net margin10.4%+2.7pp
FCF margin9.8%+4.6pp

Returns & leverage

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Return on equity25.7%+1.9pp
Debt / equity2.6×-0.8×
Current ratio0.3×0.0×

Segments

By segment

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Europe Segment$2.1B+8.5%
Cruise Support$90.0M+26.8%
Tour And Other$29.0M-12.1%

By product

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Passenger ticket$4.1B+5.2%
Onboard and other$2.3B+9.3%

FAQ

When did Carnival Corporation report Q4 2025 earnings?
Carnival Corporation (CCL) reported Q4 2025 earnings on January 27, 2026.
What were Carnival Corporation's Q4 2025 revenue and EPS?
Carnival Corporation reported revenue of $6.3B and eps of $0.30 for Q4 2025.
Did Carnival Corporation beat estimates in Q4 2025?
Revenue beat the consensus estimate of $6.1B by $191.0M. EPS beat the consensus estimate of $0.18 by $0.12.
How did Carnival Corporation's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.6% from $5.9B a year earlier and eps grew 114.9% from $0.14.