Carnival (CCL) EBITDA Margin (2009 - 2026)
Carnival's (CCL) quarterly EBITDA Margin came in at 12.77% in Q2 2026, down 199.0% YoY from 12.9% in Q2 2025, and up 29.72% on a QoQ basis from 9.85% in Q1 2026.
Carnival (CCL) EBITDA Margin (2009 - 2026) Analysis & Trends
Carnival (CCL) has 18 years of EBITDA Margin data on file, last reported at 12.77% in Q2 2026.
- Quarterly EBITDA Margin fell 199.0% year-over-year to 12.77% in Q2 2026, while the trailing twelve-month figure through May 2026 was 16.35% (up 11.0% YoY) and the FY2025 annual result came in at 16.84%, up 256.0% from the prior year.
- EBITDA Margin improved to 12.77% in Q2 2026, from 9.85% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 27.85% in Q3 2025 to a low of 91.87% in Q1 2022.
- A 5-year average of 1.22% and a median of 9.4% in 2024 frame the typical range for EBITDA Margin.
- Annual changes were most pronounced in 2022 — EBITDA Margin surged 576967 bps — and 2026, when it plunged 199 bps.
- Tracing CCL's EBITDA Margin over 5 years: stood at 29.56% in 2022, then surged by 124 bps to 7.12% in 2023, then surged by 33 bps to 9.45% in 2024, then increased by 23 bps to 11.61% in 2025, then grew by 10 bps to 12.77% in 2026.
- The last three EBITDA Margin figures came in at 12.77% (Q2 2026), 9.85% (Q1 2026), and 11.61% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 34.00% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 21.01% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 27.05% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 0.03% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 12.77% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 18.54% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 29.83% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 13.76% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 15.30% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 2.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 12.77% |
| Feb 28, 2026 | 9.85% |
| Nov 30, 2025 | 11.61% |
| Aug 31, 2025 | 27.85% |
| May 31, 2025 | 14.76% |
| Feb 28, 2025 | 9.35% |
| Nov 30, 2024 | 9.45% |
| Aug 31, 2024 | 27.58% |
| May 31, 2024 | 9.69% |
| Feb 29, 2024 | 5.11% |
| Nov 30, 2023 | 7.12% |
| Aug 31, 2023 | 23.69% |
| May 31, 2023 | 2.44% |
| Feb 28, 2023 | -3.88% |
| Nov 30, 2022 | -29.56% |
| Aug 31, 2022 | -6.48% |
| May 31, 2022 | -61.35% |
| Feb 28, 2022 | -91.87% |
| Nov 30, 2021 | -147.09% |
| Aug 31, 2021 | -376.74% |