Carnival (CCL) Free Cash Flow (2009 - 2026)
Carnival (CCL) posted Free Cash Flow of $712 million for fiscal Q3 2026 (quarter ended Aug 31, 2026), down 3.3% from $736 million a year earlier and down 59.4% from the prior quarter.
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Analysis
Carnival (CCL) Free Cash Flow (2009 - 2026) Analysis & Trends
For the trailing twelve months through Aug 31, 2026, Free Cash Flow at Carnival was $3.18 billion, up 9.0% year-over-year; for FY2025 (ended Nov 30, 2025), it came in at $2.61 billion, up 101.0% from FY2024.
- In prior fiscal years, Carnival's Free Cash Flow was $1.3 billion in FY2024 (+30.1%), $997 million in FY2023, -$6.61 billion in FY2022 and -$7.72 billion in FY2021.
- Quarterly Free Cash Flow has run from a low of -$3.94 billion in fiscal Q1 2022 to a high of $1.76 billion in fiscal Q2 2026 over five years.
- On a year-over-year basis, Free Cash Flow increased in five of the last seven quarters, with growth averaging 27.7%.
- The strongest year-over-year quarter for Free Cash Flow in the past five years was fiscal Q1 2026, with growth of 119.2%; the weakest was fiscal Q4 2025, with a decline of 96.2%.
- According to Business Quant data, Free Cash Flow for the three prior fiscal quarters was $1.76 billion (Q2 2026), $697 million (Q1 2026) and $12 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.60 Bn | 91.65 Bn | 1.55 Bn | 796.00 Mn |
| 2 | Royal Caribbean Cruises | 74.32 Bn | 71.90 Bn | 2.29 Bn | -877.00 Mn |
| 3 | Hilton Worldwide Holdings | 72.10 Bn | 68.58 Bn | 3.08 Bn | 460.00 Mn |
| 4 | Viking Holdings | 36.31 Bn | 21.43 Bn | 996.62 Mn | 1.12 Bn |
| 5 | Carnival | 34.66 Bn | 27.87 Bn | - | 712.00 Mn |
| 6 | Intercontinental Hotels | 26.64 Bn | 22.19 Bn | - | - |
| 7 | Trip.com | 24.74 Bn | -20.81 Bn | 1.84 Bn | - |
| 8 | Hyatt Hotels | 14.98 Bn | 12.46 Bn | 388.00 Mn | 28.00 Mn |
| 9 | H World | 12.83 Bn | 3.76 Bn | - | 525.03 Mn |
| 10 | Atour Lifestyle Holdings | 8.08 Bn | 4.77 Bn | 493.22 Mn | 123.61 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 712.00 Mn |
| May 31, 2026 | 1.76 Bn |
| Feb 28, 2026 | 697.00 Mn |
| Nov 30, 2025 | 12.00 Mn |
| Aug 31, 2025 | 736.00 Mn |
| May 31, 2025 | 1.54 Bn |
| Feb 28, 2025 | 318.00 Mn |
| Nov 30, 2024 | 319.00 Mn |
| Aug 31, 2024 | 628.00 Mn |
| May 31, 2024 | 720.00 Mn |
| Feb 29, 2024 | -370.00 Mn |
| Nov 30, 2023 | 247.00 Mn |
| Aug 31, 2023 | 997.00 Mn |
| May 31, 2023 | 440.00 Mn |
| Feb 28, 2023 | -687.00 Mn |
| Nov 30, 2022 | -1.30 Bn |
| Aug 31, 2022 | -882.00 Mn |
| May 31, 2022 | -488.00 Mn |
| Feb 28, 2022 | -3.94 Bn |
| Nov 30, 2021 | -855.00 Mn |
API Access
Carnival Free Cash Flow 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=free-cash-flow&ticker=CCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=CCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();