Carnival (CCL) Return on Capital Employed [ROCE] (2009 - 2026)
Carnival's Return on Capital Employed [ROCE] came in at 11.28% for fiscal Q3 2026 (quarter ended Aug 31, 2026), up 0.39 percentage points from 10.89% a year earlier but down 0.33 percentage points from the prior quarter.
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Analysis
Carnival (CCL) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025 (ended Nov 30, 2025), Carnival's Return on Capital Employed [ROCE] was 12.03%, up 2.49 percentage points from FY2024.
- Return on Capital Employed [ROCE] has increased in each of the last five fiscal years, with a five-year change of +33.84 percentage points (FY2020 to FY2025).
- Going back by fiscal year, Return on Capital Employed [ROCE] was 9.54% in FY2024 (+4.51 pp), 5.02% in FY2023 (+15.47 pp), -10.45% in FY2022 (+6.02 pp) and -16.46% in FY2021 (+5.35 pp).
- The five-year range for quarterly Return on Capital Employed [ROCE] is -17.39% (fiscal Q2 2022) to 11.75% (fiscal Q4 2025).
- Year-over-year, Return on Capital Employed [ROCE] has increased for 17 consecutive quarters, with an average year-over-year change of +2.21 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Capital Employed [ROCE] over five years came in fiscal Q4 2023 (a gain of 15.78 percentage points), and the weakest in fiscal Q2 2022 (a drop of 2.38 percentage points).
- Business Quant data shows CCL's Return on Capital Employed [ROCE] at 11.61% (Q2 2026), 11.60% (Q1 2026) and 11.75% (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 103.12 Bn | 101.17 Bn | 1.55 Bn | 21.18% |
| 2 | Hilton Worldwide Holdings | 79.42 Bn | 75.87 Bn | 3.08 Bn | 25.17% |
| 3 | Royal Caribbean Cruises | 74.12 Bn | 71.47 Bn | 2.29 Bn | 16.12% |
| 4 | Viking Holdings | 36.51 Bn | 21.63 Bn | 996.62 Mn | 21.91% |
| 5 | Carnival | 35.56 Bn | 28.75 Bn | - | 11.28% |
| 6 | Trip.com | 26.20 Bn | -18.79 Bn | 1.84 Bn | 6.10% |
| 7 | Intercontinental Hotels | 25.04 Bn | 21.01 Bn | - | - |
| 8 | Hyatt Hotels | 16.29 Bn | 13.45 Bn | 388.00 Mn | -49.45% |
| 9 | H World | 14.17 Bn | 5.58 Bn | 453.94 Mn | 15.35% |
| 10 | Norwegian Cruise Line Holdings | 6.90 Bn | 6.12 Bn | 1.05 Bn | 8.72% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 11.28% |
| May 31, 2026 | 11.61% |
| Feb 28, 2026 | 11.60% |
| Nov 30, 2025 | 11.75% |
| Aug 31, 2025 | 10.89% |
| May 31, 2025 | 11.42% |
| Feb 28, 2025 | 10.32% |
| Nov 30, 2024 | 9.45% |
| Aug 31, 2024 | 9.08% |
| May 31, 2024 | 7.84% |
| Feb 29, 2024 | 6.49% |
| Nov 30, 2023 | 5.15% |
| Aug 31, 2023 | 1.10% |
| May 31, 2023 | -3.66% |
| Feb 28, 2023 | -7.51% |
| Nov 30, 2022 | -10.62% |
| Aug 31, 2022 | -13.00% |
| May 31, 2022 | -17.39% |
| Feb 28, 2022 | -16.65% |
| Nov 30, 2021 | -16.48% |
API Access
Carnival Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=CCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=CCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();