North America was Carnival’s largest segment in fiscal 2025, bringing in $17.60B of $26.62B (66%).
| Segment | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | — | $14.59B | $16.80B | $17.60B | ||||||||
| Naa | — | — | — | — | ||||||||
| Eaa | — | — | — | — | ||||||||
| Europe | $3.53B | $6.54B | $7.71B | $8.47B | ||||||||
| Ea | — | — | — | — | ||||||||
| North America & Australia | $8.28B | — | — | — | ||||||||
| Tour & Other | $185.00M | $265.00M | — | $241.00M | ||||||||
| Cruise Support | $171.00M | $206.00M | $255.00M | $309.00M | ||||||||
| Intersegment Elimination | — | — | — | — | ||||||||
| Total | $12.17B | $21.59B | $24.77B | $26.62B |
Carnival brought in $26.62B from its four segments in fiscal 2025, the year ended November 30, 2025. Carnival regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $24.77B. North America was the largest at $17.60B (66.1%), ahead of Europe at $8.47B (31.8%) and Cruise Support at $309.00M (1.2%). The remaining segment, Tour & Other, brought in $241.00M.
Compared with fiscal 2024, Europe grew 9.8% to $8.47B and North America grew 4.8% to $17.60B.
Carnival stopped reporting North America & Australia as a separate segment after fiscal 2022, when it brought in $8.28B.
United States was Carnival’s largest region in fiscal 2025, bringing in $14.85B of $26.62B (56%).
| Geography | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | — | $12.25B | $14.06B | $14.85B | ||||||||
| North America | $7.87B | — | — | — | ||||||||
| Europe | $3.92B | — | — | — | ||||||||
| Germany | — | $2.65B | $3.06B | $3.35B | ||||||||
| Uk Plan | — | $2.28B | $2.74B | $3.05B | ||||||||
| Australia & Asia | — | — | — | — | ||||||||
| Other | $132.00M | $4.41B | $5.16B | $5.37B | ||||||||
| Australia | $252.00M | — | — | — | ||||||||
| Total | $12.17B | $21.59B | $25.02B | $26.62B |
Carnival brought in $26.62B from its four regions in fiscal 2025, the year ended November 30, 2025. That was up 6.4% from $25.02B in fiscal 2024. United States was the largest at $14.85B (55.8%), ahead of Other at $5.37B (20.2%) and Germany at $3.35B (12.6%). The remaining region, Uk Plan, brought in $3.05B.
Compared with fiscal 2024, Uk Plan grew fastest, up 11.5% to $3.05B. Every region above 2% of revenue grew.
Carnival began breaking out United States in fiscal 2023, Germany in fiscal 2023 and Uk Plan in fiscal 2023. Carnival stopped reporting North America ($7.87B in fiscal 2022), Europe ($3.92B in fiscal 2022) and Australia ($252.00M in fiscal 2022) as separate regions.
Passenger Ticket was Carnival’s largest product and service line in fiscal 2025, bringing in $17.42B of $26.62B (65%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Passenger Ticket | — | $14.07B | $16.46B | $17.42B | ||||||
| Cruise Passenger Ticket | $7.02B | — | — | — | ||||||
| Onboard & Other | — | $7.53B | $8.56B | $9.20B | ||||||
| Cruise Onboard & Other | $5.15B | — | — | — | ||||||
| Tour & Other | — | — | — | — | ||||||
| Total | $12.17B | $21.59B | $25.02B | $26.62B |
Carnival brought in $26.62B from its two product and service lines in fiscal 2025, the year ended November 30, 2025. That was up 6.4% from $25.02B in fiscal 2024. Passenger Ticket was the largest at $17.42B (65.4%), ahead of Onboard & Other at $9.20B (34.6%).
Compared with fiscal 2024, Onboard & Other grew 7.5% to $9.20B and Passenger Ticket grew 5.8% to $17.42B.
Carnival began breaking out Passenger Ticket in fiscal 2023 and Onboard & Other in fiscal 2023. Carnival stopped reporting Cruise Passenger Ticket ($7.02B in fiscal 2022) and Cruise Onboard & Other ($5.15B in fiscal 2022) as separate lines.
Carnival (CCL) reports its revenue by segment, by geography and by product and service. In fiscal 2025, North America was its largest segment, bringing in $17.60B (66.1% of the total), followed by Europe at $8.47B (31.8%).
North America was Carnival's largest segment in fiscal 2025, bringing in $17.60B, or 66.1% of the $26.62B total across its four segments.
United States was Carnival's largest region in fiscal 2025, bringing in $14.85B, or 55.8% of the $26.62B total across its four regions.
Passenger Ticket was Carnival's largest product and service line in fiscal 2025, bringing in $17.42B, or 65.4% of the $26.62B total across its two product and service lines.
Among Carnival's regions that make up at least 2% of revenue, Uk Plan grew fastest in fiscal 2025, up 11.5% from $2.74B to $3.05B.
Every figure comes from Carnival's annual financial filings, as reported. Each line keeps the name Carnival gives it, and years follow its fiscal calendar.
Carnival's revenue by segment goes back to fiscal 2014, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.