Carnival (CCL) Debt to Equity (2009 - 2026)

Carnival has reported Debt to Equity for 18 years, with the latest figure at $1.94 in Q1 2026.

• For the quarter ending Q1 2026, Debt to Equity fell 34.13% year-over-year to $1.94; the trailing twelve-month figure through Feb 2026 stood at $1.94 (down 34.13% YoY), and the FY2025 full-year result was $2.17, down 26.98% from the prior year.
• Debt to Equity for Q1 2026 stood at $1.94, down from $2.17 in the prior quarter.
• The five-year high for Debt to Equity was $5.75 in Q2 2023, with the low at $1.94 in Q1 2026.
• Historically, Debt to Equity has averaged $3.68 across 5 years, with a median of $3.72 in 2022.
• Annual changes were most pronounced in 2022 — Debt to Equity surged 137.79% — and 2025, when it sank 36.74%.
• Carnival's Debt to Equity stood at $4.86 in 2022, then dropped by 8.62% to $4.44 in 2023, then slumped by 33.15% to $2.97 in 2024, then declined by 26.98% to $2.17 in 2025, then retreated by 10.63% to $1.94 in 2026.
• The last three Debt to Equity figures came in at $1.94 (Q1 2026), $2.17 (Q4 2025), and $2.22 (Q3 2025), per Business Quant data.