Carnival (CCL) Return on Invested Capital [ROIC] (2009 - 2026)
Carnival (CCL) recorded Return on Invested Capital [ROIC] of 11.50% in fiscal Q3 2026 (quarter ended Aug 31, 2026), up 0.18 percentage points from 11.32% a year earlier but down 0.13 percentage points from the prior quarter.
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Analysis
Carnival (CCL) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025 (ended Nov 30, 2025), Carnival reported Return on Invested Capital [ROIC] of 11.80%, up 2.16 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has increased for five straight fiscal years, with a five-year change of +32.78 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Return on Invested Capital [ROIC] came in at 9.64% in FY2024 (+4.69 pp), 4.95% in FY2023 (+15.02 pp), -10.07% in FY2022 (+5.16 pp) and -15.23% in FY2021 (+5.75 pp).
- Quarterly Return on Invested Capital [ROIC] has ranged from -15.57% in fiscal Q2 2022 to 11.69% in fiscal Q1 2026 over the past five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for eight consecutive quarters, with an average year-over-year change of +2.26 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 15.58 percentage points in fiscal Q4 2023, against a drop of 1.33 percentage points in fiscal Q2 2022 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 11.63% (Q2 2026), 11.69% (Q1 2026) and 11.54% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 109.31 Bn | 107.58 Bn | 1.54 Bn | 26.93% |
| 2 | Royal Caribbean Cruises | 90.26 Bn | 87.19 Bn | 2.88 Bn | 15.33% |
| 3 | Hilton Worldwide Holdings | 83.34 Bn | 80.08 Bn | 3.05 Bn | 31.87% |
| 4 | Carnival | 41.72 Bn | 34.91 Bn | - | 11.50% |
| 5 | Viking Holdings | 38.51 Bn | 23.64 Bn | 996.62 Mn | 22.52% |
| 6 | Trip.com | 28.88 Bn | -16.16 Bn | 1.84 Bn | 5.35% |
| 7 | Intercontinental Hotels | 27.75 Bn | 23.71 Bn | - | - |
| 8 | Hyatt Hotels | 17.35 Bn | 14.77 Bn | 384.00 Mn | -37.95% |
| 9 | H World | 15.42 Bn | 6.82 Bn | 456.00 Mn | 42.20% |
| 10 | U-Haul Holding | 11.00 Bn | 6.65 Bn | 1.75 Bn | 2.20% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 11.50% |
| May 31, 2026 | 11.63% |
| Feb 28, 2026 | 11.69% |
| Nov 30, 2025 | 11.54% |
| Aug 31, 2025 | 11.32% |
| May 31, 2025 | 11.40% |
| Feb 28, 2025 | 10.51% |
| Nov 30, 2024 | 9.64% |
| Aug 31, 2024 | 9.10% |
| May 31, 2024 | 7.68% |
| Feb 29, 2024 | 6.33% |
| Nov 30, 2023 | 5.17% |
| May 31, 2023 | -3.63% |
| Feb 28, 2023 | -7.38% |
| Nov 30, 2022 | -10.42% |
| Aug 31, 2022 | -11.97% |
| May 31, 2022 | -15.57% |
| Feb 28, 2022 | -15.56% |
| Nov 30, 2021 | -15.47% |
| Aug 31, 2021 | -14.39% |
API Access
Carnival Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=CCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=CCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();