Carnival (CCL) Debt Ratio (2009 - 2026)
Carnival's Debt Ratio came in at 0.48 for fiscal Q2 2026 (quarter ended May 31, 2026), down 10.5% from 0.53 a year earlier and down 2.8% from the prior quarter.
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Analysis
Carnival (CCL) Debt Ratio (2009 - 2026) Analysis & Trends
For FY2025 (ended Nov 30, 2025), Carnival's Debt Ratio was 0.52, down 8.0% from FY2024.
- Debt Ratio has declined in each of the last three fiscal years.
- Going back by fiscal year, Debt Ratio was 0.56 in FY2024 (-10.0%), 0.62 in FY2023 (-6.8%), 0.67 in FY2022 (+7.2%) and 0.62 in FY2021 (+23.9%).
- The fiscal Q2 2026 figure represents the lowest quarterly Debt Ratio since fiscal Q2 2020.
- Year-over-year, Debt Ratio has declined for 13 consecutive quarters, with an average decline of 9.8% over the last eight quarters.
- The fastest year-over-year change in Debt Ratio over five years came in fiscal Q4 2021 (growth of 23.9%), and the weakest in fiscal Q1 2026 (a decline of 11.9%).
- Business Quant data shows CCL's Debt Ratio at 0.49 (Q1 2026), 0.52 (Q4 2025) and 0.52 (Q3 2025) in the three fiscal quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.50 Bn | 91.55 Bn | 1.55 Bn | 0.60 |
| 2 | Hilton Worldwide Holdings | 72.30 Bn | 68.78 Bn | 3.08 Bn | 0.79 |
| 3 | Royal Caribbean Cruises | 64.91 Bn | 62.49 Bn | 2.29 Bn | 0.51 |
| 4 | Viking Holdings | 35.75 Bn | 20.87 Bn | 996.62 Mn | 0.43 |
| 5 | Carnival | 30.35 Bn | 23.01 Bn | - | 0.48 |
| 6 | Intercontinental Hotels | 26.52 Bn | 22.08 Bn | - | -0.40 |
| 7 | Trip.com | 25.92 Bn | -19.63 Bn | 1.84 Bn | 0.10 |
| 8 | Hyatt Hotels | 15.20 Bn | 12.68 Bn | 388.00 Mn | 0.31 |
| 9 | H World | 13.30 Bn | 4.22 Bn | - | 0.07 |
| 10 | Atour Lifestyle Holdings | 8.20 Bn | 4.90 Bn | 493.22 Mn | 0.03 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 0.48 |
| Feb 28, 2026 | 0.49 |
| Nov 30, 2025 | 0.52 |
| Aug 31, 2025 | 0.52 |
| May 31, 2025 | 0.53 |
| Feb 28, 2025 | 0.56 |
| Nov 30, 2024 | 0.56 |
| Aug 31, 2024 | 0.58 |
| May 31, 2024 | 0.59 |
| Feb 29, 2024 | 0.62 |
| Nov 30, 2023 | 0.62 |
| Aug 31, 2023 | 0.63 |
| May 31, 2023 | 0.65 |
| Feb 28, 2023 | 0.68 |
| Nov 30, 2022 | 0.67 |
| Aug 31, 2022 | 0.66 |
| May 31, 2022 | 0.66 |
| Feb 28, 2022 | 0.66 |
| Nov 30, 2021 | 0.62 |
| Aug 31, 2021 | 0.58 |
API Access
Carnival Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=CCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "CCL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=CCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();