Carnival (CCL) Debt Ratio (2009 - 2026)
Carnival's (CCL) quarterly Debt Ratio came in at 0.48 in Q2 2026, down 16.95% YoY from 0.57 in Q2 2025, and down 10.66% on a QoQ basis from 0.53 in Q1 2026.
Carnival (CCL) Debt Ratio (2009 - 2026) Analysis & Trends
Carnival (CCL) has 18 years of Debt Ratio data on file, last reported at 0.48 in Q2 2026.
- Quarterly Debt Ratio fell 16.95% year-over-year to 0.48 in Q2 2026, while the trailing twelve-month figure through May 2026 was 0.48 (down 16.95% YoY) and the FY2025 annual result came in at 0.52, down 7.97% from the prior year.
- Debt Ratio slipped to 0.48 in Q2 2026, from 0.53 in the prior quarter.
- In the past five years, Debt Ratio ranged from a high of 0.73 in Q3 2022 to a low of 0.48 in Q2 2026.
- A 5-year average of 0.61 and a median of 0.61 in 2022 frame the typical range for Debt Ratio.
- Annual changes were most pronounced in 2022 — Debt Ratio surged 39.54% — and 2025, when it retreated 18.56%.
- Tracing CCL's Debt Ratio over 5 years: stood at 0.66 in 2022, then decreased by 6.31% to 0.62 in 2023, then declined by 10.02% to 0.56 in 2024, then decreased by 7.97% to 0.52 in 2025, then dropped by 7.54% to 0.48 in 2026.
- The last three Debt Ratio figures came in at 0.48 (Q2 2026), 0.53 (Q1 2026), and 0.52 (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 0.68 |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 0.09 |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 0.51 |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 0.45 |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 0.48 |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 0.19 |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 0.12 |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 0.63 |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 0.80 |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 0.31 |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 0.48 |
| Feb 28, 2026 | 0.53 |
| Nov 30, 2025 | 0.52 |
| Aug 31, 2025 | 0.52 |
| May 31, 2025 | 0.57 |
| Feb 28, 2025 | 0.56 |
| Nov 30, 2024 | 0.56 |
| Aug 31, 2024 | 0.64 |
| May 31, 2024 | 0.65 |
| Feb 29, 2024 | 0.62 |
| Nov 30, 2023 | 0.62 |
| Aug 31, 2023 | 0.59 |
| May 31, 2023 | 0.67 |
| Feb 28, 2023 | 0.67 |
| Nov 30, 2022 | 0.66 |
| Aug 31, 2022 | 0.73 |
| May 31, 2022 | 0.60 |
| Feb 28, 2022 | 0.72 |
| Nov 30, 2021 | 0.57 |
| Aug 31, 2021 | 0.66 |