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Carnival Corporation CCL Return on invested capital

Return on invested capital at other companies

Royal Caribbean Group logo
Royal Caribbean GroupRCL
55.7%-4.0pp
Norwegian Cruise Line Holdings Ltd. logo
Norwegian Cruise Line Holdings Ltd.NCLH
9.7%-0.3pp
Walt Disney logo
Walt DisneyDIS
8.2%+3.1pp
Hyatt Hotels logo
Hyatt HotelsH
2.9%-13.1pp
Packaging Corp of America logo
Packaging Corp of AmericaPKG
10.8%-2.9pp

Other financials

Income statement

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Revenue$6.2B+6.1%
Gross profit$3.8B+4.9%
Operating income$607.0M+11.8%
Net income$258.0M+431%
EPS (diluted)$0.19+417%

Balance sheet

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Cash & equivalents$1.5B+70.2%
Total debt$28.8B-5.9%
Total equity$13.0B+41.9%
Total assets$51.6B+6.2%

Cash flow

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Operating cash flow$1.3B+36.5%
CapEx$566.0M-6.8%
Free cash flow$697.0M+119%

Valuation

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Market cap$42.76B+34.8%
Enterprise value$70.13B+14.3%
P/E13.8×-1.7×
P/S1.6×+0.3×

Profitability

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Gross margin39.5%+2.5pp
Operating margin16.9%+1.7pp
Net margin11.5%+3.4pp
FCF margin11.1%+3.3pp

Returns & leverage

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Return on equity27.9%+2.0pp
Debt / equity2.2×-1.1×
Current ratio0.3×0.0×

Where this comes from

Calculated from Carnival Corporation’s reported figures.

Based on trailing twelve months.

The official record: Carnival Corporation’s 10-Q, filed March 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Carnival Corporation's return on invested capital?
Carnival Corporation (CCL) reported return on invested capital of 11.5% in Q4 2025.
How has Carnival Corporation's return on invested capital changed year-over-year?
Carnival Corporation's return on invested capital increased by 17.3% year-over-year, from 9.8% to 11.5%.
What is the long-term trend for Carnival Corporation's return on invested capital?
Over 5 years (2020 to 2025), Carnival Corporation's return on invested capital has grown at a -12.7% compound annual growth rate (CAGR), from -21.9% to 11.1%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.