Carnival (CCL) FCF Margin (2009 - 2026)
Carnival (CCL) posted FCF Margin of 26.34% for Q2 2026, up 132.97% on a QoQ basis from 11.31% in Q1 2026, and up 199.0% year-over-year from 8.81% in Q2 2025.
Carnival (CCL) FCF Margin (2009 - 2026) Analysis & Trends
Carnival's FCF Margin history runs 18 years deep, the most recent figure standing at 26.34% for Q2 2026.
- Quarterly FCF Margin rose 199.0% year-over-year to 26.34% in Q2 2026, while the trailing twelve-month figure through May 2026 was 11.72% (up 91.0% YoY) and the FY2025 annual result came in at 9.79%, up 461.0% from the prior year.
- FCF Margin was 26.34% for Q2 2026 at Carnival, up from 11.31% in the prior quarter.
- Across five years, FCF Margin topped out at 26.34% in Q2 2026 and bottomed at 242.88% in Q1 2022.
- A 5-year average of 11.63% and a median of 5.42% in 2024 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2022 — FCF Margin surged 1236096 bps — and 2024, when it sank 659 bps.
- Carnival's FCF Margin stood at 33.81% in 2022, then soared by 114 bps to 4.58% in 2023, then grew by 17 bps to 5.37% in 2024, then plunged by 96 bps to 0.19% in 2025, then soared by 13794 bps to 26.34% in 2026.
- Business Quant data shows CCL's FCF Margin at 26.34% in Q2 2026, 11.31% in Q1 2026, and 0.19% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 56.18% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 29.96% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 63.78% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | -7.15% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 57.75% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 26.34% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 109.37% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | -26.82% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 18.57% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | -6.19% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 26.34% |
| Feb 28, 2026 | 11.31% |
| Nov 30, 2025 | 0.19% |
| Aug 31, 2025 | 9.03% |
| May 31, 2025 | 24.35% |
| Feb 28, 2025 | 5.47% |
| Nov 30, 2024 | 5.37% |
| Aug 31, 2024 | 7.95% |
| May 31, 2024 | 12.45% |
| Feb 29, 2024 | -6.84% |
| Nov 30, 2023 | 4.58% |
| Aug 31, 2023 | 14.55% |
| May 31, 2023 | 8.96% |
| Feb 28, 2023 | -15.50% |
| Nov 30, 2022 | -33.81% |
| Aug 31, 2022 | -20.49% |
| May 31, 2022 | -20.32% |
| Feb 28, 2022 | -242.88% |
| Nov 30, 2021 | -66.43% |
| Aug 31, 2021 | -337.36% |