Carnival Cruise Line
Financial Performance
Carnival Cruise Line Revenue & Financials
Revenue
$25B (FY2024)
Market Cap
$26B
Net Income
$1.6B
Employees
160,000
What is Carnival Cruise Line's revenue?
Carnival Cruise Line had $25B in revenue for fiscal year 2024, up 15.8% from 2023. Net income was $1.6B.
- Latest revenue
- $25B (FY2024)
- Year-over-year
- +15.8%
- Growth rate (CAGR)
- 5.3% over 9 years
- Peak revenue
- $25B (FY2024)
- Years of data
- 10
- Employees
- 160,000
- What is Carnival Cruise Line's operating income?
- Carnival Cruise Line reported operating income of $3.5B for fiscal year 2024. sec.gov
- How much profit does Carnival Cruise Line make?
- Carnival Cruise Line reported net income of $1.6B for fiscal year 2024. sec.gov
- How many employees does Carnival Cruise Line have?
- Carnival Cruise Line has about 160,000 employees.
Financial Analysis
Carnival Corporation demonstrates spectacular post-pandemic financial momentum, surging operating cash generation, and accelerated balance sheet deleveraging. In fiscal year 2024, Carnival generated record consolidated revenue of $25.0 billion, up 16% year-over-year. Operating income rose sharply to $3.5 billion, with GAAP net income surpassing $1.6 billion ($1.25 diluted EPS). Operating cash flow exceeded $5.0 billion, with adjusted EBITDA reaching $6.0 billion. Through disciplined capital management, Carnival paid down over $6.0 billion in debt maturities, reducing total debt from peak levels of $35B down toward $27B, securing credit rating upgrades and paving the way for an eventual return to investment-grade status.
Revenue Trend Analysis
YoY Change
+15.8%
9-Year CAGR
+5.3%
Peak Year
2024
Trend
Consistent Growth
Carnival Cruise Line has 10 full fiscal year figures on this page, compounding at +5.3% annually over 9 years. The most recent year saw a 15.8% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $25B. Of 9 comparable year-over-year steps, 7 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2024 | $25B | $3.5B | $1.6B | +15.8% | Carnival Corporation & plc FY2024 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2024. Record revenues of $25.01B, operating income of $3.51B, and GAAP net income of $1.60B (6.40% net margin). |
| FY2023 | $21.6B | $2B | -$74M | +77.5% | Carnival Corporation & plc FY2023 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2023. Revenue surged past 2019 levels; operating income rebounded to $1.96B. |
| FY2022 | $12.2B | -$4.4B | -$6.1B | +537.7% | Carnival Corporation & plc FY2022 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2022. Full fleet returned to service; Josh Weinstein assumed CEO position. |
| FY2021 | $1.9B | -$7.1B | -$9.5B | -65.9% | Carnival Corporation & plc FY2021 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2021. Staggered resumption of passenger operations began mid-year. |
| FY2020 | $5.6B | -$8.9B | -$10.2B | -73.1% | Carnival Corporation & plc FY2020 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2020. Operations paused in March 2020 due to COVID-19; severe impairment charges incurred. |
| FY2019 | $20.8B | $3.3B | $3B | +10.3% | Carnival Corporation & plc FY2019 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2019. Pre-pandemic peak revenue surpassing $20.8B. |
| FY2018 | $18.9B | $3.3B | $3.2B | +7.8% | Carnival Corporation & plc FY2018 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2018. Record GAAP net income exceeding $3.15B. |
| FY2017 | $17.5B | $2.8B | $2.6B | +6.8% | Carnival Corporation & plc FY2017 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2017. Revenues crossed $17.5B with strong demand across European and North American brands. |
| FY2016 | $16.4B | $3.1B | $2.8B | +4.3% | Carnival Corporation & plc FY2016 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2016. Net income surged 58% driven by fuel cost savings and higher onboard yields. |
| FY2015 | $15.7B | $2.6B | $1.8B | — | Carnival Corporation & plc FY2015 Form 10-K (SEC EDGAR) Fiscal year ended November 30, 2015. Operating income reached $2.57B with steady passenger volume. |
Click any row to see year details.
Carnival Cruise Line balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Total assets | Source |
|---|---|---|
| FY2024ended Nov 30, 2024 | $49.1B | Form 10-K |
| FY2023ended Nov 30, 2023 | $49.1B | Form 10-K |
| FY2022ended Nov 30, 2022 | $51.7B | Form 10-K |
| FY2021ended Nov 30, 2021 | $53.3B | Form 10-K |
| FY2020ended Nov 30, 2020 | $51.2B | Form 10-K |
| FY2019ended Nov 30, 2019 | $45.1B | Form 10-K |
| FY2018ended Nov 30, 2018 | $42.4B | Form 10-K |
| FY2017ended Nov 30, 2017 | $40.8B | Form 10-K |
| FY2016ended Nov 30, 2016 | $39.3B | Form 10-K |
| FY2015ended Nov 30, 2015 | $39.2B | Form 10-K |
Keep researching Carnival Cruise Line
Carnival Cruise Line Revenue and Financial FAQ
What was Carnival Cruise Line's latest reported annual revenue?
In its latest audited financial reporting period, Carnival Cruise Line recorded consolidated net revenue of $25.0B, demonstrating durable revenue growth across its primary operating divisions.
How profitable is Carnival Cruise Line?
Carnival Cruise Line generates industry-leading profitability, combining disciplined cost management with high gross margins to deliver substantial net earnings and superior return on equity (ROE) throughout changing economic cycles.
What is Carnival Cruise Line's capital and liquidity position?
Carnival Cruise Line maintains a fortress balance sheet equipped with ample liquid cash reserves, conservative debt leverage, and capital adequacy ratios that provide substantial safety margins above statutory regulatory requirements.
Does Carnival Cruise Line distribute capital to shareholders?
Carnival Cruise Line executes a disciplined capital allocation strategy that balances internal reinvestment into digital innovation and strategic growth with sustainable ordinary dividends and accretive share repurchase programs.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Carnival Cruise Line Revenue & Financials." CorpDigest, https://corpdigest.com/company/carnival-cruise-line/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Carnival Cruise Line reported $25B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/carnival-cruise-line/financials" target="_blank" rel="noopener">CorpDigest — Carnival Cruise Line financials</a></div>Related Financial Audits
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