{ "ok": true, "cik": "815097", "ticker": "CCL", "name": "Carnival Corporation Ltd.", "filings": [ { "form": "8-K", "filed": "2026-08-05", "items": [ "7.01 Regulation FD Disclosure" ], "url": "https://www.sec.gov/Archives/edgar/data/815097/000095014226002267/0000950142-26-002267-index.htm" }, { "form": "10-Q", "filed": "2026-06-26", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000096/0000815097-26-000096-index.htm" }, { "form": "8-K", "filed": "2026-06-23", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000086/0000815097-26-000086-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "1.02 Termination of a Material Definitive Agreement", "2.01 Completion of Acquisition or Disposition of Assets", "3.01 Notice of Delisting or Failure to Satisfy a Listing Rule", "3.02 Unregistered Sales of Equity Securities", "3.03 Material Modifications to Rights of Security Holders", "5.01 Changes in Control of Registrant", "5.03 Amendments to Articles or Bylaws; Change in Fiscal Year", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/815097/000110465926057200/0001104659-26-057200-index.htm" }, { "form": "8-K", "filed": "2026-04-20", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000043/0000815097-26-000043-index.htm" }, { "form": "10-Q", "filed": "2026-03-27", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000037/0000815097-26-000037-index.htm" } ], "events12m": 12, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 1, "latest": { "filed": "2026-05-07", "url": "https://www.sec.gov/Archives/edgar/data/815097/000110465926057200/0001104659-26-057200-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000815097.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=815097" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Carnival Corporation Ltd. ($CCL). Last filing: 8-K (7.01 Regulation FD Disclosure), 2026-08-05. 12 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-11-30", "revenue": 26622000000, "revenueGrowth1y": 0.06398625154869908, "revenueGrowthPerYear": 0.9327050310959959, "yearsOfData": 5, "operatingMargin": 0.1683945608894899, "operatingMarginPrior": 0.14284001438791416, "netMargin": 0.10367365336939373, "operatingCashFlow": 6218000000, "capitalSpending": 3611000000, "freeCashFlow": 2607000000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 1928000000, "longTermDebt": 26640000000, "longTermDebtChange": -0.03039126478616927, "revenueHistory": [ { "fiscalYearEnd": "2021-11-30", "revenue": 1908000000 }, { "fiscalYearEnd": "2022-11-30", "revenue": 12168000000 }, { "fiscalYearEnd": "2023-11-30", "revenue": 21593000000 }, { "fiscalYearEnd": "2024-11-30", "revenue": 25021000000 }, { "fiscalYearEnd": "2025-11-30", "revenue": 26622000000 } ], "totalEquity": 12284000000, "totalAssets": 51687000000, "equityRatio": 0.2376613074854412, "returnOnEquity": 0.22468251383914034, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": 1.95, "dividendYearsRising": 4, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 2.1, "sharesOutstanding": 1402000000, "bookValuePerShare": 8.761768901569187, "revenuePerShare": 18.9885877318117, "range80": { "low": 23598963016.124084, "high": 38594970932.622765, "baseline": 31443016944.171207, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.4, "growthYears": 3, "ownVolatility": 0.27404629844028955, "classVolatility": 0.06659579566308972, "volatility": 0.18083569745912917 }, "ifPaceHeld": { "low": 23598963016.124084, "high": 38594970932.622765 } }, "edgarette": "🔖 Exposure: revenue $26.6B (FY2025), total debt $26.6B. Experience: revenue up 6.4% on the year, up 93.3% a year over 4 years; operating margin 16.8%, up from 14.3%. Soundness: equity 23.8% of assets, return on equity 22.5%, dividend per share up 4 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $23.6B and $38.6B next year (method v4.1: its own 3-year record of growth weighed at 40% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $19.0B to $47.0B. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, water transportation): operating margin 16.8% against a 18.9% median; growth 6.4% against 1.8%.", "peers": { "sic": 4400, "sicDescription": "Water Transportation", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "4400", "growth": [ 0.0176, 8 ], "opMargin": [ 0.1886, 8 ] }, "summary": "Carnival Corporation (CCL) grew revenue 6.4% in FY2025 to $26.6 billion, operating margin 16.8% against a 18.9% median for water transportation, equity 23.8% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Carnival Corporation Ltd. against its own record and its peers
Operating marginPeer median 18.9%16.8%Revenue, on the yearPeer median 1.8%6.4%Equity of assets23.8%Return on equity22.5%No peer group large enough for a median
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profitHanded back per share$1.95up 4 years runningRevenue growth it managed6.4%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 10, "hits": 4, "rate": 0.4, "method": "v4", "byYear": { "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 0, 1 ], "2023": [ 0, 1 ], "2024": [ 0, 1 ], "2025": [ 0, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:56.502Z", "hash": "db10496f8758634b", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Carnival Corporation (CCL) grew revenue 6.4% in FY2025 to $26.6 billion, operating margin 16.8% against a 18.9% median for water transportation, equity 23.8% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-11-30", "revenue": 26622000000, "totalDebt": 26640000000, "cash": 1928000000 }, "experience": { "revenueGrowth1y": 0.06398625154869908, "revenueGrowthPerYear": 0.9327050310959959, "operatingMargin": 0.1683945608894899, "operatingMarginPrior": 0.14284001438791416, "netMargin": 0.10367365336939373, "freeCashFlow": 2607000000 }, "soundness": { "equityRatio": 0.2376613074854412, "returnOnEquity": 0.22468251383914034, "payoutRatio": null, "dividendPerShare": 1.95, "dividendYearsRising": 4, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 4400, "sicDescription": "Water Transportation", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "4400", "growth": [ 0.0176, 8 ], "opMargin": [ 0.1886, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 1, "latest": { "filed": "2026-05-07", "url": "https://www.sec.gov/Archives/edgar/data/815097/000110465926057200/0001104659-26-057200-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 23598963016.124084, "high": 38594970932.622765, "baseline": 31443016944.171207, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.4, "growthYears": 3, "ownVolatility": 0.27404629844028955, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.18083569745912917, "k": 3 }, "stress": { "low": 19012740070.89509, "high": 47004372592.30089, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 10, "hits": 4, "rate": 0.4, "method": "v4", "byYear": { "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 0, 1 ], "2023": [ 0, 1 ], "2024": [ 0, 1 ], "2025": [ 0, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:56.502Z", "hash": "db10496f8758634b", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000815097.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=815097" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2336, "growth3y": 0.2982, "volatility": 0.274, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.2374, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 23.4% of revenue into operating cash; revenue growing 29.8% a year over three years; no common dividend.", "outside": "Among $10B+ companies: 74th percentile for cash, 96th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$10B+", "cashPctInClass": 74, "growthPctInClass": 96, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-11-30", "operating": 6218000000, "investing": -3321000000, "financing": -2189000000, "capitalSpending": 3611000000, "free": 2607000000, "trend": [ { "fiscalYearEnd": "2021-11-30", "operating": -4109000000, "free": -7716000000 }, { "fiscalYearEnd": "2022-11-30", "operating": -1670000000, "free": -6610000000 }, { "fiscalYearEnd": "2023-11-30", "operating": 4281000000, "free": 997000000 }, { "fiscalYearEnd": "2024-11-30", "operating": 5923000000, "free": 1297000000 }, { "fiscalYearEnd": "2025-11-30", "operating": 6218000000, "free": 2607000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-11-30", "cash": 1928000000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 51687000000, "ladder": null, "currentRatio": 0.32, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2336, "growth3y": 0.2982, "volatility": 0.274, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.2374, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 23.4% of revenue into operating cash; revenue growing 29.8% a year over three years; no common dividend.", "outside": "Among $10B+ companies: 74th percentile for cash, 96th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$10B+", "cashPctInClass": 74, "growthPctInClass": 96, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-11-30", "operating": 6218000000, "investing": -3321000000, "financing": -2189000000, "capitalSpending": 3611000000, "free": 2607000000, "trend": [ { "fiscalYearEnd": "2021-11-30", "operating": -4109000000, "free": -7716000000 }, { "fiscalYearEnd": "2022-11-30", "operating": -1670000000, "free": -6610000000 }, { "fiscalYearEnd": "2023-11-30", "operating": 4281000000, "free": 997000000 }, { "fiscalYearEnd": "2024-11-30", "operating": 5923000000, "free": 1297000000 }, { "fiscalYearEnd": "2025-11-30", "operating": 6218000000, "free": 2607000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-11-30", "cash": 1928000000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 51687000000, "ladder": null, "currentRatio": 0.32, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }