Carnival (CCL) EBITDA Margin (2009 - 2026)
Carnival (CCL) posted EBITDA Margin of 12.77% for Q2 2026, up 29.72% on a QoQ basis from 9.85% in Q1 2026, and down 199.0% year-over-year from 12.9% in Q2 2025.
Carnival (CCL) EBITDA Margin (2009 - 2026) Analysis & Trends
Carnival's EBITDA Margin history runs 18 years deep, the most recent figure standing at 12.77% for 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 was 12.77% for Q2 2026 at Carnival, up from 9.85% in the prior quarter.
- Across five years, EBITDA Margin topped out at 27.85% in Q3 2025 and bottomed at 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 tumbled 199 bps.
- Carnival's EBITDA Margin stood at 29.56% in 2022, then jumped by 124 bps to 7.12% in 2023, then jumped by 33 bps to 9.45% in 2024, then gained by 23 bps to 11.61% in 2025, then rose by 10 bps to 12.77% in 2026.
- Business Quant data shows CCL's EBITDA Margin at 12.77% in Q2 2026, 9.85% in Q1 2026, and 11.61% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 22.98% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 26.10% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 3.21% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 2.66% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 0.03% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 12.77% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 7.33% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 9.99% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 16.11% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 0.36% |
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% |