Carnival (CCL) Operating Expenses (2009 - 2026)
Carnival's (CCL) quarterly Operating Expenses came in at $4.2 billion in Q2 2026, up 8.72% on a YoY basis from $3.9 billion in Q2 2025, and up 7.26% quarter-over-quarter from $3.9 billion in Q1 2026.
Analysis
Carnival (CCL) Operating Expenses (2009 - 2026) Analysis & Trends
Carnival (CCL) has reported Operating Expenses for 18 consecutive years, with $4.2 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 8.72% year-over-year to $4.2 billion; the trailing twelve-month figure through May 2026 stood at $16.5 billion (up 4.25% YoY), and the FY2025 full-year result was $15.9 billion, up 1.98% from the prior year.
- Operating Expenses advanced to $4.2 billion in Q2 2026 per CCL's latest filing, from $3.9 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $5.2 billion in Q3 2023 and bottomed at -$307.0 million in Q4 2023.
- Historically, Operating Expenses has averaged $4.1 billion across 5 years, with a median of $4.3 billion in 2024.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses slumped 106.17% in 2023, then soared 1348.53% in 2024.
- Over 5 years, Operating Expenses stood at $5.0 billion in 2022, then plunged by 106.17% to -$307.0 million in 2023, then jumped by 1348.53% to $3.8 billion in 2024, then climbed by 2.01% to $3.9 billion in 2025, then gained by 8.06% to $4.2 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $4.2 billion, $3.9 billion, and $3.9 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Royal Caribbean Cruises | 71.23 Bn | 70.31 Bn | 2.29 Bn | 513.00 Mn |
| 2 | Viking Holdings | 38.98 Bn | 34.99 Bn | 996.62 Mn | -268.67 Mn |
| 3 | Carnival | 32.12 Bn | 29.88 Bn | - | 4.23 Bn |
| 4 | Norwegian Cruise Line Holdings | 7.08 Bn | 6.86 Bn | 1.05 Bn | 690.41 Mn |
| 5 | Lindblad Expeditions Holdings | 1.73 Bn | 1.37 Bn | 96.64 Mn | 187.29 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 4.23 Bn |
| Feb 28, 2026 | 3.94 Bn |
| Nov 30, 2025 | 3.91 Bn |
| Aug 31, 2025 | 4.39 Bn |
| May 31, 2025 | 3.89 Bn |
| Feb 28, 2025 | 3.77 Bn |
| Nov 30, 2024 | 3.83 Bn |
| Aug 31, 2024 | 4.30 Bn |
| May 31, 2024 | 5.22 Bn |
| Feb 29, 2024 | 5.13 Bn |
| Nov 30, 2023 | -307.00 Mn |
| Aug 31, 2023 | 5.23 Bn |
| May 31, 2023 | 4.79 Bn |
| Feb 28, 2023 | 4.60 Bn |
| Nov 30, 2022 | 4.97 Bn |
| Aug 31, 2022 | 4.59 Bn |
| May 31, 2022 | 3.87 Bn |
| Feb 28, 2022 | 3.11 Bn |
| Nov 30, 2021 | 3.18 Bn |
| Aug 31, 2021 | 2.60 Bn |