Carnival annual gross margin
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2021
2022
2023
2024
2025
Carnival Gross Margin Growth & History (CCL)
Carnival's gross margin was 40.09% for fiscal 2025.
View full Carnival company overviewCarnival annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-11-30 | 40.09% | +2.59 pp |
| 2024 | 2024-11-30 | 37.50% | +3.80 pp |
| 2023 | 2023-11-30 | 33.70% | +30.32 pp |
| 2022 | 2022-11-30 | 3.38% | +147.35 pp |
| 2021 | 2021-11-30 | −143.97% | — |
| 2019 | 2019-11-30 | 38.01% | −3.26 pp |
| 2018 | 2018-11-30 | 41.27% | +1.24 pp |
| 2017 | 2017-11-30 | 40.03% | −2.72 pp |
| 2016 | 2016-11-30 | 42.75% | +2.87 pp |
| 2015 | 2015-11-30 | 39.88% | +5.49 pp |
| 2014 | 2014-11-30 | 34.39% | +5003.44 pp |
| 2013 | 2013-11-30 | −4,969.05% | −178.05 pp |
| 2012 | 2012-11-30 | −4,791.00% | −1186.32 pp |
| 2011 | 2011-11-30 | −3,604.68% | −469.09 pp |
| 2010 | 2010-11-30 | −3,135.59% | −3171.69 pp |
| 2009 | 2009-11-30 | 36.10% | −0.13 pp |
| 2008 | 2008-11-30 | 36.23% | −5.24 pp |
| 2007 | 2007-11-30 | 41.47% | — |
Carnival quarterly gross margin
Q3.08
Q1.09
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
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Q1.14
Q2.14
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Q4.14
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Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-05-31 | 36.59% | −2.00 pp |
| Q1 2026 | 2026-02-28 | 36.11% | +0.93 pp |
| Q4 2025 | 2025-11-30 | 38.24% | +2.77 pp |
| Q3 2025 | 2025-08-31 | 46.22% | +0.71 pp |
| Q2 2025 | 2025-05-31 | 38.59% | +4.29 pp |
| Q1 2025 | 2025-02-28 | 35.18% | +3.72 pp |
| Q4 2024 | 2024-11-30 | 35.47% | +2.70 pp |
| Q3 2024 | 2024-08-31 | 45.50% | +2.71 pp |
| Q2 2024 | 2024-05-31 | 34.30% | +4.70 pp |
| Q1 2024 | 2024-02-29 | 31.47% | +6.17 pp |
| Q4 2023 | 2023-11-30 | 32.77% | +28.23 pp |
| Q3 2023 | 2023-08-31 | 42.79% | +21.28 pp |
| Q2 2023 | 2023-05-31 | 29.61% | +41.35 pp |
| Q1 2023 | 2023-02-28 | 25.29% | +50.37 pp |
| Q4 2022 | 2022-11-30 | 4.53% | +46.29 pp |
| Q3 2022 | 2022-08-31 | 21.51% | +217.48 pp |
| Q2 2022 | 2022-05-31 | −11.75% | +1250.25 pp |
| Q1 2022 | 2022-02-28 | −25.08% | +1932.62 pp |
| Q4 2021 | 2021-11-30 | −41.76% | — |
| Q3 2021 | 2021-08-31 | −195.97% | +4700.80 pp |
| Q2 2021 | 2021-05-31 | −1,262.00% | −1026.32 pp |
| Q1 2021 | 2021-02-28 | −1,957.69% | −1984.13 pp |
| Q3 2020 | 2020-08-31 | −4,896.77% | −4942.71 pp |
| Q2 2020 | 2020-05-31 | −235.68% | −270.38 pp |
| Q1 2020 | 2020-02-29 | 26.44% | −6.33 pp |
| Q4 2019 | 2019-11-30 | 35.66% | −2.83 pp |
| Q3 2019 | 2019-08-31 | 45.94% | −3.38 pp |
| Q2 2019 | 2019-05-31 | 34.70% | −3.76 pp |
| Q1 2019 | 2019-02-28 | 32.76% | −3.23 pp |
| Q4 2018 | 2018-11-30 | 38.49% | −0.07 pp |
| Q3 2018 | 2018-08-31 | 49.31% | +3.95 pp |
| Q2 2018 | 2018-05-31 | 38.47% | +0.22 pp |
| Q1 2018 | 2018-02-28 | 35.99% | +0.22 pp |
| Q4 2017 | 2017-11-30 | 38.55% | −2.53 pp |
| Q3 2017 | 2017-08-31 | 45.37% | −4.35 pp |
| Q2 2017 | 2017-05-31 | 38.25% | −0.80 pp |
| Q1 2017 | 2017-02-28 | 35.77% | −2.80 pp |
| Q4 2016 | 2016-11-30 | 41.08% | −38.35 pp |
| Q3 2016 | 2016-08-31 | 49.72% | +0.71 pp |
| Q2 2016 | 2016-05-31 | 39.06% | +6807.63 pp |
| Q1 2016 | 2016-02-29 | 38.56% | +23288.56 pp |
| Q4 2015 | 2015-11-30 | 79.44% | −4.66 pp |
| Q3 2015 | 2015-08-31 | 49.01% | +1865.67 pp |
| Q2 2015 | 2015-05-31 | −6,768.57% | +1704.76 pp |
| Q1 2015 | 2015-02-28 | −23,250.00% | +9050.00 pp |
| Q4 2014 | 2014-11-30 | 84.10% | +7990.16 pp |
| Q3 2014 | 2014-08-31 | −1,816.67% | +152.13 pp |
| Q2 2014 | 2014-05-31 | −8,473.33% | +637.78 pp |
| Q1 2014 | 2014-02-28 | −32,300.00% | −3522.22 pp |
| Q4 2013 | 2013-11-30 | −7,906.06% | +2197.94 pp |
| Q3 2013 | 2013-08-31 | −1,968.79% | −425.12 pp |
| Q2 2013 | 2013-05-31 | −9,111.11% | +3830.99 pp |
| Q1 2013 | 2013-02-28 | −28,777.78% | +1055.56 pp |
| Q4 2012 | 2012-11-30 | −10,104.00% | −1029.00 pp |
| Q3 2012 | 2012-08-31 | −1,543.67% | −334.83 pp |
| Q2 2012 | 2012-05-31 | −12,942.11% | −2958.11 pp |
| Q1 2012 | 2012-02-29 | −29,833.33% | −5983.33 pp |
| Q4 2011 | 2011-11-30 | −9,075.00% | — |
| Q3 2011 | 2011-08-31 | −1,208.84% | −126.16 pp |
| Q2 2011 | 2011-05-31 | −9,984.00% | −10016.24 pp |
| Q1 2011 | 2011-02-28 | −23,850.00% | −23879.50 pp |
| Q3 2010 | 2010-08-31 | −1,082.67% | −1128.89 pp |
| Q2 2010 | 2010-05-31 | 32.24% | −3.82 pp |
| Q1 2010 | 2010-02-28 | 29.50% | −5.91 pp |
| Q4 2009 | 2009-11-30 | 23.71% | — |
| Q3 2009 | 2009-08-31 | 46.22% | +0.93 pp |
| Q2 2009 | 2009-05-31 | 36.06% | — |
| Q1 2009 | 2009-02-28 | 35.41% | — |
| Q3 2008 | 2008-08-31 | 45.28% | — |
Carnival gross margin trends
Between the periods ended 2007-11-30 and 2025-11-30, Carnival's gross margin decreased from 41.47% to 40.09%, a change of −1.38 percentage points. The latest reported quarter, Q2 2026, shows 36.59%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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