Carnival (CCL) Net Margin (2009 - 2026)
Carnival (CCL) posted Net Margin of 8.07% for Q2 2026, up 89.27% on a QoQ basis from 4.27% in Q1 2026, and down 90.0% year-over-year from 80.74% in Q2 2025.
Carnival (CCL) Net Margin (2009 - 2026) Analysis & Trends
Carnival's Net Margin history runs 18 years deep, the most recent figure standing at 8.07% for Q2 2026.
- Quarterly Net Margin fell 90.0% year-over-year to 8.07% in Q2 2026, while the trailing twelve-month figure through May 2026 was 11.26% (up 151.0% YoY) and the FY2025 annual result came in at 10.37%, up 271.0% from the prior year.
- Net Margin was 8.07% for Q2 2026 at Carnival, up from 4.27% in the prior quarter.
- Across five years, Net Margin topped out at 22.7% in Q3 2025 and bottomed at 116.51% in Q1 2022.
- A 5-year average of 10.42% and a median of 0.33% in 2023 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2022 — Net Margin jumped 747195 bps — and 2026, when it tumbled 90 bps.
- Carnival's Net Margin stood at 41.65% in 2022, then surged by 98 bps to 0.91% in 2023, then jumped by 662 bps to 5.1% in 2024, then soared by 31 bps to 6.67% in 2025, then advanced by 21 bps to 8.07% in 2026.
- Business Quant data shows CCL's Net Margin at 8.07% in Q2 2026, 4.27% in Q1 2026, and 6.67% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 19.58% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 21.34% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 5.97% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | -9.25% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 17.99% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 8.07% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | -0.35% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 4.49% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 9.69% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 6.19% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 8.07% |
| Feb 28, 2026 | 4.27% |
| Nov 30, 2025 | 6.67% |
| Aug 31, 2025 | 22.70% |
| May 31, 2025 | 8.98% |
| Feb 28, 2025 | -1.29% |
| Nov 30, 2024 | 5.10% |
| Aug 31, 2024 | 21.97% |
| May 31, 2024 | 1.57% |
| Feb 29, 2024 | -3.96% |
| Nov 30, 2023 | -0.91% |
| Aug 31, 2023 | 15.67% |
| May 31, 2023 | -8.29% |
| Feb 28, 2023 | -15.64% |
| Nov 30, 2022 | -41.65% |
| Aug 31, 2022 | -17.89% |
| May 31, 2022 | -76.38% |
| Feb 28, 2022 | -116.51% |
| Nov 30, 2021 | -203.57% |
| Aug 31, 2021 | -519.41% |