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FCF Margin for Carnival Corporation (CCL)

As of · Reported

Metric

TTM

11.1%

YoY change

+4.61pp

Trough year (2021)

-404.4%

Peak year (1992)

18.6%

FCF Margin history chart for Carnival Corporation (CCL) from 1991 to 2025

Latest: 9.8%

FCF Margin change chart for Carnival Corporation (CCL) from 1991 to 2025

Latest: +4.61pp

FCF Margin history table for Carnival Corporation (CCL) from 1991 to 2025

  • 20259.8%+4.61pp
  • 20245.2%+0.57pp
  • 20234.6%+58.94pp
  • 2022-54.3%+350.08pp
  • 2021-404.4%-227.05pp
  • 2020-177.4%-177.57pp
  • 20190.2%-9.31pp
  • 20189.5%-4.05pp
  • 201713.6%+0.94pp
  • 201612.6%-1.68pp
  • 201514.3%+8.99pp
  • 20145.3%+0.90pp
  • 20134.4%+0.10pp
  • 20124.3%-2.44pp
  • 20116.8%+5.12pp
  • 20101.7%+1.93pp
  • 2009-0.3%-0.54pp
  • 20080.3%-5.55pp
  • 20075.8%-3.93pp
  • 20069.7%-3.18pp
  • 200512.9%+16.72pp
  • 2004-3.8%+4.87pp
  • 2003-8.7%+3.13pp
  • 2002-11.8%-20.87pp
  • 20019.1%+3.13pp
  • 20005.9%-7.09pp
  • 199913.0%+14.96pp
  • 1998-1.9%-17.47pp
  • 199715.5%+22.77pp
  • 1996-7.2%-12.42pp
  • 19955.2%+8.36pp
  • 1994-3.2%+11.77pp
  • 1993-15.0%-33.53pp
  • 199218.6%+2.35pp
  • 199116.2%—

FCF Margin values are taken from Carnival Corporation's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About FCF Margin at Carnival Corporation (CCL)

According to Carnival Corporation's latest reported financial statements, the company's latest reported free cash flow margin is 11.1%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

Carnival Corporation (CCL) most recent annual free cash flow margin stands at 9.79% (2025) – expanded 4.6 percentage points year-over-year.

1992 marks the peak free cash flow margin at 18.56%, with the historical low of -404.40% recorded in 2021.

Carnival Corporation FCF Margin by Year

Carnival Corporation FCF Margin 2025: 9.8%

In 2025, Carnival Corporation reported free cash flow margin of 9.79%, expanded 4.6 percentage points from 2024.

Carnival Corporation FCF Margin 2024: 5.2%

Carnival Corporation free cash flow margin in 2024 was 5.18%, expanded 0.6 percentage points from 2023.

Carnival Corporation FCF Margin 2023: 4.6%

2023's free cash flow margin for Carnival Corporation came in at 4.62%, expanded 58.9 percentage points from 2022.

Carnival Corporation FCF Margin 2022: -54.3%

Carnival Corporation posted free cash flow margin of -54.32% in 2022, expanded 350.1 percentage points from 2021.

Carnival Corporation FCF Margin 2021: -404.4%

Carnival Corporation free cash flow margin in 2021 was -404.40%.

See more financial history for Carnival Corporation (CCL).

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