Carnival (CCL) FCF Margin (2009 - 2026)
Carnival's (CCL) quarterly FCF Margin came in at 26.34% in Q2 2026, up 199.0% YoY from 8.81% in Q2 2025, and up 132.97% on a QoQ basis from 11.31% in Q1 2026.
Carnival (CCL) FCF Margin (2009 - 2026) Analysis & Trends
Carnival (CCL) has 18 years of FCF Margin data on file, last reported at 26.34% in 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 grew to 26.34% in Q2 2026, from 11.31% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 26.34% in Q2 2026 to a low of 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 slumped 659 bps.
- Tracing CCL's FCF Margin over 5 years: stood at 33.81% in 2022, then jumped by 114 bps to 4.58% in 2023, then advanced by 17 bps to 5.37% in 2024, then slumped by 96 bps to 0.19% in 2025, then jumped by 13794 bps to 26.34% in 2026.
- The last three FCF Margin figures came in at 26.34% (Q2 2026), 11.31% (Q1 2026), and 0.19% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 49.55% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 35.20% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | -18.15% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 57.75% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 26.34% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 29.64% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | - |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 5.49% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 9.35% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 11.84% |
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% |