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CCL

Carnival

Consumer DiscretionaryTransportation & UtilitiesS&P 500
Ticker CCLMIAMI, FLFiscal year ends NovemberBook value per share $10.27Diluted shares 1.4B

Carnival Corporation & plc operates as a leading global cruise vacation company serving millions of guests annually across multiple brands and destinations worldwide. The company maintains a dual-listed structure with Carnival Corporation incorporated in Panama and Carnival plc incorporated in England and Wales,… From the company’s description.

Fiscal year 2025 · ends 11-30Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-08-31
Sales & profitability
$26.62BFY2025
+6.4% year over year
Last 12 mo $27.59B
16.84%FY2025
+2.6 percentage points
Last 12 mo 15.99%
$2.76BFY2025
+44.1% year over year
Last 12 mo $3.15B
22.57%FY2025
+1.9 percentage points
Last 12 mo 22.11%
Cash & financing
$6.22BFY2025
+5.0% year over year
Last 12 mo $6.82B
$2.61BFY2025
+101.0% year over year
Last 12 mo $3.18B
2.17FY2025
Was 2.97× a year earlier
Last 12 mo 1.69
1.4BFY2025
+2.7% year over year
Last 12 mo 1.4B

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Carnival does

In the company’s own words

Carnival Corporation & plc operates as a leading global cruise vacation company serving millions of guests annually across multiple brands and destinations worldwide. The company maintains a dual-listed structure with Carnival Corporation incorporated in Panama and Carnival plc incorporated in England and Wales, operating as a unified economic entity. The company's portfolio includes some of the world's most recognized cruise brands, each serving distinct market segments and geographic regions with differentiated experiences and price points.

The cruise industry represents Carnival's core business, with the company operating a substantial fleet of ships that traverse major cruise destinations globally, including the Caribbean, Mediterranean, Alaska, and other international waters. The company generates revenue primarily through cruise ticket sales, onboard spending including food and beverage services, entertainment, and various guest amenities. Additional revenue streams derive from travel insurance, shore excursions, and other ancillary services provided to passengers.

Carnival's operational footprint spans multiple continents with ships homeported in key markets throughout North America, Europe, and other regions. The company employs a significant workforce across shipboard operations, shore-based administrative functions, and customer-facing roles. The company maintains strategic relationships with travel agents, tour operators, and online travel platforms that distribute cruise vacations to consumers.

The company's competitive positioning derives from its extensive brand portfolio, substantial fleet capacity, global distribution network, and operational expertise accumulated over decades in the cruise industry. Carnival maintains significant capital investments in fleet modernization, including new ship construction and refurbishment of existing vessels to enhance guest experiences and operational efficiency.

The indenture document presented reflects Carnival's capital structure, specifically detailing senior unsecured notes due 2029 with a 5.125% coupon, demonstrating the company's access to capital markets for financing operations and fleet investments. The company's financial obligations and debt management represent important considerations for stakeholders evaluating the organization's long-term sustainability and strategic direction.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Transportation & Utilities
Headquarters
MIAMI, FL
Fiscal year end
November
CIK
815097
SIC
4400

Financial performance, year by year

Fiscal 2013–2025 · USD
$-14.02B$-2.67B$8.68B$20.03B$31.38B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Carnival — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

163
funds hold it
0 of 35
superinvestors hold it
$5.42B
held by funds, at market
14.1%
of shares held by funds

Largest fund holders · Carnival’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.05%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.06%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.34%of fund net assets
CAUSEWAY INTERNATIONAL VALUE FUND
CIVVX · CAUSEWAY CAPITAL MANAGEMENT TRUST
2.21%of fund net assets
VANGUARD VALUE INDEX FUND
VTV · VANGUARD INDEX FUNDS
0.13%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Carnival and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Carnival's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Carnival's last four quarterly filings that the numbers alone won't show?”
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