Carnival (CCL) EBITDA Margin (2009 - 2026)
Carnival (CCL) recorded EBITDA Margin of 35.26% in fiscal Q3 2026 (quarter ended Aug 31, 2026), down 1.39 percentage points from 36.65% a year earlier but up 11.63 percentage points from the prior quarter.
Carnival (CCL) EBITDA Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Carnival's EBITDA Margin came in at 26.50% as of Aug 31, 2026, down 0.31 percentage points year-over-year; for FY2025 (ended Nov 30, 2025), it was 27.32%, up 2.82 percentage points from FY2024.
- Annual EBITDA Margin has increased for four straight fiscal years, with a five-year change of +145.71 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, EBITDA Margin came in at 24.50% in FY2024 (+4.47 pp), 20.03% in FY2023 (+37.33 pp), -17.29% in FY2022 (+237.22 pp) and -254.51% in FY2021 (-136.12 pp).
- Quarterly EBITDA Margin has ranged from -104.20% in fiscal Q4 2021 to 36.65% in fiscal Q3 2025 over the past five years.
- On a year-over-year basis, EBITDA Margin rose in six of the last eight quarters, with an average year-over-year change of +1.50 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 3680.73 percentage points in fiscal Q1 2022, against a drop of 2.07 percentage points in fiscal Q2 2026 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 23.62% (Q2 2026), 21.14% (Q1 2026) and 23.08% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 104.59 Bn | 102.64 Bn | 1.55 Bn | 20.52% |
| 2 | Hilton Worldwide Holdings | 81.60 Bn | 78.05 Bn | 3.08 Bn | 27.66% |
| 3 | Royal Caribbean Cruises | 77.88 Bn | 75.23 Bn | 2.29 Bn | 35.84% |
| 4 | Viking Holdings | 38.49 Bn | 23.61 Bn | 996.62 Mn | 33.61% |
| 5 | Carnival | 37.17 Bn | 30.35 Bn | - | 35.58% |
| 6 | Trip.com | 26.55 Bn | -18.45 Bn | 1.84 Bn | - |
| 7 | Intercontinental Hotels | 26.36 Bn | 22.33 Bn | - | - |
| 8 | Hyatt Hotels | 16.55 Bn | 13.71 Bn | 388.00 Mn | -67.85% |
| 9 | H World | 14.30 Bn | 5.70 Bn | 453.94 Mn | 35.47% |
| 10 | Norwegian Cruise Line Holdings | 7.25 Bn | 6.47 Bn | 1.05 Bn | 24.90% |
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 35.58% |
| May 31, 2026 | 24.03% |
| Feb 28, 2026 | 21.57% |
| Nov 30, 2025 | 23.52% |
| Aug 31, 2025 | 36.99% |
| May 31, 2025 | 26.17% |
| Feb 28, 2025 | 21.12% |
| Nov 30, 2024 | 21.12% |
| Aug 31, 2024 | 36.27% |
| May 31, 2024 | 21.28% |
| Feb 29, 2024 | 17.11% |
| Nov 30, 2023 | 18.81% |
| Aug 31, 2023 | 32.99% |
| May 31, 2023 | 15.43% |
| Feb 28, 2023 | 10.24% |
| Nov 30, 2022 | -13.73% |
| Aug 31, 2022 | 8.04% |
| May 31, 2022 | -35.82% |
| Feb 28, 2022 | -54.90% |
| Nov 30, 2021 | -101.01% |
Carnival EBITDA Margin 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=ebitda-margin&ticker=CCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=CCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();