How does Carnival Corporation (CCL) make money?

Carnival Corporation (CCL) generates revenue primarily from Tour And Other, which accounted for 65.3% of total revenue in TTM through Q1 2026. The company reported $26.98B in revenue and converted 11.5% of it into net profit, equivalent to roughly $3.10B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Carnival Corporation (CCL)?

Carnival Corporation (CCL) reported a gross profit margin of 37.5% in TTM through Q1 2026, equivalent to $10.13B in gross profit on $26.98B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Carnival Corporation (CCL)?

Carnival Corporation (CCL) reported an operating profit margin of 16.9% in TTM through Q1 2026, equivalent to $4.55B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Carnival Corporation (CCL)?

Carnival Corporation (CCL) reported a net profit margin of 11.5% in TTM through Q1 2026, equivalent to $3.10B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Carnival Corporation (CCL) profitable?

Yes. Carnival Corporation (CCL) reported $3.10B in net income for TTM through Q1 2026, with a net profit margin of 11.5%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Carnival Corporation (CCL) spend on capital expenditures?

Carnival Corporation (CCL) spent $3.57B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 13.2% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Carnival Corporation (CCL) generate?

Carnival Corporation (CCL) generated $2.99B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 11.1%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Carnival Corporation (CCL)?

Carnival Corporation (CCL) had an effective tax rate of 0.7% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Carnival Corporation (CCL)?

Carnival Corporation (CCL) reports revenue across 2 reportable product segments, led by Tour & Other at 65.3% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Carnival Corporation (CCL) generate most of its revenue?

Europe Australia And Asia Cruise Brands is the largest geographic market for Carnival Corporation (CCL), accounting for 48.7% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Carnival Corporation Makes Money: 2026 Visual Revenue Map

Carnival Corporation (CCL) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending February 28, 2026 (reported March 27, 2026).

Carnival Corporation (CCL) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Carnival Corporation (CCL) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Tour & Other	$17.61B	65.3%
Cruise	$9.37B	34.7%
Total	$26.98B	100%

Tour & Other$17.61B
Cruise$9.37B
Total$26.98B

Carnival Corporation (CCL) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Carnival Corporation (CCL), TTM through Q1 2026
Region	Revenue (USD)	% of total
Europe Australia And Asia Cruise Brands	$8.91B	48.7%
North America Cruise Brands	$8.77B	47.9%
Australia And Asia	$628.00M	3.4%
Total	$18.31B	100%

Europe Australia And Asia Cruise Brands
North America Cruise Brands
Australia And Asia
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Carnival Corporation (CCL) reports revenue across 2 operating segments; the largest segment was Tour & Other at 65.3%, followed by Cruise (34.7%). Separately, by end-market geography, Europe Australia And Asia Cruise Brands accounted for 48.7% of revenue, followed by North America Cruise Brands (47.9%) and Australia And Asia (3.4%).

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