Season explores more of the Caribbean with longer port stays, immersive experiences, private island escapes and a longer journey tracing Pan Am's historic routes Key Points: 2027–2028 Caribbean season features 29 itineraries across 47 departures, with more nine-day-or-longer voyages than any other cruise line Range of itineraries spans five- and six-day getaways to extended journeys across the Eastern, Western and Southern Caribbean, as well as the Panama Canal Season includes diverse experiences, from relaxing escapes at RelaxAway, Half Moon Cay to the 28-day Pan Am Legendary Voyage tracing historic Clipper flying boat routes Enhanced guest experience features upgrades across the fleet, including the debut of the reimagined Oosterdam with new staterooms and onboard venues SEATTLE, July 6, 2026 /PRNewswire/ -- Holland America Line, a leader in destination-rich travel and personalized service, is opening its 2027–2028 Caribbean season with a range of itineraries designed to give guests more ways to explore the region — from quick five- and six-day getaways to longer voyages that spend more time in port than any other cruise line sailing the Caribbean. Nearly every itinerary includes a call at RelaxAway, Half Moon Cay, the line's award-winning private island.
Carnival Corporation & plc(CCL)Earnings, Financials & Key Ratios
CCL•NYSE
$26.68
13.2× P/E·Price updated Jul 7, 2026
AboutCarnival Corporation & plc operates as a leisure travel company. Its ships visit approximately 700 ports under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK), and Cunard brand names. The company also provides port destinations and other services, as well as owns and owns and operates hotels, lodges, glass-domed railcars, and motor coaches. It sells its cruises primarily through travel agents, tour operators, vacation planners, and websites. The company operates in the United States, Canada, Continental Europe, the United Kingdom, Australia, New Zealand, Asia, and internationally. It operates 87 ships with 223,000 lower berths. Carnival Corporation & plc was founded in 1972 and is headquartered in Miami, Florida.Show more
- Revenue$26.62B+6.4%
- EBITDA$7.27B+18.6%
- Net Income$2.76B+44.1%
- EPS (Diluted)2.02+40.3%
- Gross Margin29.62%-21.0%
- EBITDA Margin27.32%+11.5%
- Operating Margin16.84%+17.9%
- Net Margin10.37%+35.4%
- ROE25.63%+7.9%
CCL Price & Volume
Carnival Corporation & plc (CCL) stock price & volume — 10-year historical chart
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Deleveraging Progress Amidst Normalizing Revenue Growth Trends
Investment Thesis • Updated 2026Q2
VerdictNeutral
Growth:Decelerating
Profitability:Moderate
Financial:Strained
Cash Flow:Improving
Primary Risk:High debt service burden
Key Thesis Takeaways
- Carnival Corporation is navigating a transition from pandemic-era survival to sustainable operational scaling, evidenced by a successful reduction in the debt-to-equity ratio from 4.79 in 2024Q1 to 2.02 by 2026Q2.
- While the company has demonstrated improved profitability with a 2026Q2 net margin of 8.1%, investors should remain cautious regarding the persistent interest expense burden and the inherent volatility of seasonal cash flows.
- Future performance will likely depend on the company's ability to maintain disciplined capital expenditure, which reached $875M in 2026Q2, while simultaneously managing its $26.2B total debt load.
Verdict Logic
while the company has improved its equity base to $13.0B, the low current ratio of 0.33 and high interest obligations warrant a cautious approach until further deleveraging is achieved.
CCL Growth Metrics
Carnival Corporation & plc (CCL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.41%
5 Years36.62%
3 Years29.82%
TTM5.16%
Profit CAGR
10 Years4.62%
5 Years-
3 Years-
TTM21.54%
EPS CAGR
10 Years-1.12%
5 Years-
3 Years-
TTM23.99%
Return on Capital
10 Years1.58%
5 Years-0.06%
3 Years8.76%
Last Year11.79%
CCL Recent Earnings
Carnival Corporation & plc (CCL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 8/12 qtrs (67%)
Q3 2026Latest
Jun 23, 2026Metric
Actual
Est
EPS
$0.41+19.1%
$0.34
Rev
$6.7B-0.4%
$6.7B
Q2 2026
Mar 27, 2026Metric
Actual
Est
EPS
$0.20+8.5%
$0.18
Rev
$6.2B+0.4%
$6.1B
Q1 2026
Jan 27, 2026Metric
Actual
Est
EPS
$0.30+62.7%
$0.18
Rev
$6.3B+3.1%
$6.1B
Q4 2025
Dec 19, 2025Metric
Actual
Est
EPS
$0.34+37.0%
$0.25
Rev
$6.3B-0.6%
$6.4B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q3 2026Latest | Jun 23, 2026 | $0.41vs $0.34+19.1% | $6.7Bvs $6.7B-0.4% |
| Q2 2026 | Mar 27, 2026 | $0.20vs $0.18+8.5% | $6.2Bvs $6.1B+0.4% |
| Q1 2026 | Jan 27, 2026 | $0.30vs $0.18+62.7% | $6.3Bvs $6.1B+3.1% |
| Q4 2025 | Dec 19, 2025 | $0.34vs $0.25+37.0% | $6.3Bvs $6.4B-0.6% |
Based on last 12 quarters of dataView full earnings history →
Latest CCL News
Recent stock market news and headlines for Carnival Corporation & plc (CCL)
PRNewsWire·1 day ago
Holland America Line Announces 2027-2028 Caribbean Season with Options from Quick Escapes to Extended JourneysThe Motley Fool·4 days ago
3 Reasons You Should Buy Carnival Stock in JulyCarnival's record sales figures are set to continue rising, thanks to powerful demand tailwinds. Management understands that paying down debt signals financial discipline to the market.
Zacks Investment Research·4 days ago
Carnival Cuts Costs, Protects Margins: Can It Drive More Upside?CCL is boosting margins through cost controls, fleet investments and record bookings despite geopolitical and demand headwinds.
Zacks Investment Research·5 days ago
CCL Stock Gains 11% in 3 Months, Still Trails Industry: Buy or Wait?Carnival has gained in recent months, but strong bookings, pricing and fleet investments are competing with geopolitical risks and softer European demand.
24/7 Wall Street·Jun 30, 2026
Why Carnival's Record Run Hasn't Closed Its Gap with Royal CaribbeanCarnival (NYSE: CCL | CCL Price Prediction) and Royal Caribbean (NYSE: RCL) just closed earnings cycles that explain why the cruise trade has fractured.
Peers Comparison
Key metrics vs top competitors for Carnival Corporation & plc (CCL)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $26.68 | $36.54B | 13.21 | 6.4% | 10.37% | 25.63% | — | |
| $282.26 | $76.36B | 18.08 | 8.8% | 24.39% | 44.93% | — | |
| $18.83 | $8.65B | 20.92 | 3.67% | 5.66% | 27.04% | — | |
| $100.01 | $44.43B | 38.91 | 21.89% | 18% | 146.63% | — | |
| $380.75 | $100.4B | 40.12 | 4.33% | 9.72% | — | — | |
| $341.12 | $77.66B | 55.74 | 7.74% | 12.56% | — | — |
Compare CCL vs Peers
Carnival Corporation & plc (CCL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CCL SEC Filings & Documents
Carnival Corporation & plc (CCL) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Jun 23, 2026·SEC
Material company update
May 7, 2026·SEC
Material company update
Apr 20, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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CCL Frequently Asked Questions
Carnival Corporation & plc (CCL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Carnival Corporation & plc's revenue?
Carnival Corporation & plc (CCL) reported $27.31B in revenue for fiscal year 2025. This represents a 1134% increase from $2.21B in 1996.
How fast is Carnival Corporation & plc growing?
Carnival Corporation & plc (CCL) grew revenue by 6.4% over the past year. This is steady growth.
Is CCL profitable?
Yes, Carnival Corporation & plc (CCL) is profitable, generating $3.07B in net income for fiscal year 2025 (10.4% net margin).
Dividend & Returns
What is CCL's return on equity?
Carnival Corporation & plc (CCL) has a return on equity (ROE) of 25.6%. This is excellent, indicating efficient use of shareholder capital.
What is Carnival Corporation & plc's free cash flow?
Carnival Corporation & plc (CCL) generated $3.20B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.