Carnival (CCL) Free Cash Flow (2009 - 2026)
Carnival's (CCL) quarterly Free Cash Flow came in at $1.8 billion in Q2 2026, up 13.89% YoY from $1.5 billion in Q2 2025, and up 151.79% on a QoQ basis from $697.0 million in Q1 2026.
Carnival (CCL) Free Cash Flow (2009 - 2026) Analysis & Trends
Carnival (CCL) has 18 years of Free Cash Flow data on file, last reported at $1.8 billion in Q2 2026.
- Quarterly Free Cash Flow rose 13.89% year-over-year to $1.8 billion in Q2 2026, while the trailing twelve-month figure through May 2026 was $3.2 billion (up 14.04% YoY) and the FY2025 annual result came in at $2.6 billion, up 101.0% from the prior year.
- Free Cash Flow rose to $1.8 billion in Q2 2026, from $697.0 million in the prior quarter.
- In the past five years, Free Cash Flow ranged from a high of $1.8 billion in Q2 2026 to a low of -$3.9 billion in Q1 2022.
- A 5-year average of $41.3 million and a median of $318.5 million in 2024 frame the typical range for Free Cash Flow.
- Annual changes were most pronounced in 2023 — Free Cash Flow surged 213.04% — and 2025, when it slumped 96.24%.
- Tracing CCL's Free Cash Flow over 5 years: stood at -$1.3 billion in 2022, then surged by 119.03% to $247.0 million in 2023, then increased by 29.15% to $319.0 million in 2024, then tumbled by 96.24% to $12.0 million in 2025, then jumped by 14525.0% to $1.8 billion in 2026.
- The last three Free Cash Flow figures came in at $1.8 billion (Q2 2026), $697.0 million (Q1 2026), and $12.0 million (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 158.46 Bn | 141.25 Bn | 4.98 Bn | 3.64 Bn |
| 2 | Airbnb | 106.78 Bn | 94.71 Bn | 2.98 Bn | 1.27 Bn |
| 3 | Royal Caribbean Cruises | 80.66 Bn | 79.74 Bn | 2.29 Bn | -877.00 Mn |
| 4 | Viking Holdings | 44.63 Bn | 40.83 Bn | 713.43 Mn | 995.73 Mn |
| 5 | Expedia | 38.98 Bn | 31.85 Bn | 3.91 Bn | 1.28 Bn |
| 6 | Carnival | 38.25 Bn | 36.01 Bn | - | 1.76 Bn |
| 7 | Trip.com | 29.13 Bn | 17.43 Bn | 1.86 Bn | - |
| 8 | Norwegian Cruise Line Holdings | 8.43 Bn | 8.21 Bn | 1.05 Bn | 144.89 Mn |
| 9 | MakeMyTrip | 5.84 Bn | 5.06 Bn | 212.91 Mn | 26.71 Mn |
| 10 | Global Business Travel | 4.86 Bn | 4.34 Bn | 514.00 Mn | 103.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 1.76 Bn |
| May 31, 2026 | 1.76 Bn |
| Feb 28, 2026 | 697.00 Mn |
| Feb 28, 2026 | 697.00 Mn |
| Nov 30, 2025 | 12.00 Mn |
| Nov 30, 2025 | 12.00 Mn |
| Aug 31, 2025 | 736.00 Mn |
| Aug 31, 2025 | 736.00 Mn |
| May 31, 2025 | 1.54 Bn |
| May 31, 2025 | 1.54 Bn |
| Feb 28, 2025 | 318.00 Mn |
| Feb 28, 2025 | 318.00 Mn |
| Nov 30, 2024 | 319.00 Mn |
| Nov 30, 2024 | 319.00 Mn |
| Aug 31, 2024 | 628.00 Mn |
| Aug 31, 2024 | 628.00 Mn |
| May 31, 2024 | 720.00 Mn |
| May 31, 2024 | 720.00 Mn |
| Feb 29, 2024 | -370.00 Mn |
| Feb 29, 2024 | -370.00 Mn |