Carnival annual net debt
2008
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2024
2025
Carnival Net Debt Growth & History (CCL)
Carnival's net debt was $26.81B for fiscal 2025.
View full Carnival company overviewCarnival annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-11-30 | $26.81B | −$1.60B | −5.62% |
| 2024 | 2024-11-30 | $28.41B | −$1.84B | −6.08% |
| 2023 | 2023-11-30 | $30.24B | −$2.68B | −8.13% |
| 2022 | 2022-11-30 | $32.92B | $6.51B | +24.64% |
| 2021 | 2021-11-30 | $26.41B | $6.92B | +35.50% |
| 2020 | 2020-11-30 | $19.49B | $8.38B | +75.35% |
| 2019 | 2019-11-30 | $11.12B | $1.70B | +18.10% |
| 2018 | 2018-11-30 | $9.41B | $561.0M | +6.34% |
| 2017 | 2017-11-30 | $8.85B | $0 | 0.00% |
| 2016 | 2016-11-30 | $8.85B | $1.46B | +19.74% |
| 2015 | 2015-11-30 | $7.39B | −$1.36B | −15.59% |
| 2014 | 2014-11-30 | $8.76B | −$341.0M | −3.75% |
| 2013 | 2013-11-30 | $9.10B | $661.0M | +7.83% |
| 2012 | 2012-11-30 | $8.44B | −$466.0M | −5.23% |
| 2011 | 2011-11-30 | $8.90B | $581.0M | +6.98% |
| 2010 | 2010-11-30 | $8.32B | −$372.0M | −4.28% |
| 2009 | 2009-11-30 | $8.69B | $272.0M | +3.23% |
| 2008 | 2008-11-30 | $8.42B | — | — |
Carnival quarterly net debt
Q4.08
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
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Q4.12
Q1.13
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Q2.15
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Q4.15
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Q3.16
Q4.16
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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
Q4.20
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Q2.21
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Q4.21
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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 | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-05-31 | $24.61B | −$2.61B | −9.58% |
| Q1 2026 | 2026-02-28 | $25.90B | −$2.35B | −8.33% |
| Q4 2025 | 2025-11-30 | $26.81B | −$1.60B | −5.62% |
| Q3 2025 | 2025-08-31 | $26.80B | −$2.73B | −9.26% |
| Q2 2025 | 2025-05-31 | $27.21B | −$2.61B | −8.75% |
| Q1 2025 | 2025-02-28 | $28.25B | −$2.33B | −7.63% |
| Q4 2024 | 2024-11-30 | $28.41B | −$1.84B | −6.08% |
| Q3 2024 | 2024-08-31 | $29.54B | −$1.04B | −3.42% |
| Q2 2024 | 2024-05-31 | $29.83B | −$1.59B | −5.05% |
| Q1 2024 | 2024-02-29 | $30.59B | −$1.23B | −3.85% |
| Q4 2023 | 2023-11-30 | $30.24B | −$2.68B | −8.13% |
| Q3 2023 | 2023-08-31 | $30.58B | $1.63B | +5.64% |
| Q2 2023 | 2023-05-31 | $31.41B | $2.07B | +7.06% |
| Q1 2023 | 2023-02-28 | $31.81B | $2.00B | +6.70% |
| Q4 2022 | 2022-11-30 | $32.92B | $6.51B | +24.64% |
| Q3 2022 | 2022-08-31 | $28.95B | $4.76B | +19.68% |
| Q2 2022 | 2022-05-31 | $29.34B | $4.17B | +16.58% |
| Q1 2022 | 2022-02-28 | $29.82B | $6.76B | +29.32% |
| Q4 2021 | 2021-11-30 | $26.41B | $6.92B | +35.50% |
| Q3 2021 | 2021-08-31 | $24.19B | $9.02B | +59.46% |
| Q2 2021 | 2021-05-31 | $25.17B | $12.73B | +102.40% |
| Q1 2021 | 2021-02-28 | $23.05B | $9.99B | +76.48% |
| Q4 2020 | 2020-11-30 | $19.49B | $8.38B | +75.35% |
| Q3 2020 | 2020-08-31 | $15.17B | $5.59B | +58.28% |
| Q2 2020 | 2020-05-31 | $12.43B | $2.46B | +24.69% |
| Q1 2020 | 2020-02-29 | $13.06B | $2.13B | +19.45% |
| Q4 2019 | 2019-11-30 | $11.12B | $1.70B | +18.10% |
| Q3 2019 | 2019-08-31 | $9.59B | $494.0M | +5.43% |
| Q2 2019 | 2019-05-31 | $9.97B | $1.17B | +13.27% |
| Q1 2019 | 2019-02-28 | $10.94B | $1.83B | +20.11% |
| Q4 2018 | 2018-11-30 | $9.41B | $561.0M | +6.34% |
| Q3 2018 | 2018-08-31 | $9.09B | $410.0M | +4.72% |
| Q2 2018 | 2018-05-31 | $8.80B | −$17.0M | −0.19% |
| Q1 2018 | 2018-02-28 | $9.11B | $611.0M | +7.19% |
| Q4 2017 | 2017-11-30 | $8.85B | $0 | 0.00% |
| Q3 2017 | 2017-08-31 | $8.68B | −$250.0M | −2.80% |
| Q2 2017 | 2017-05-31 | $8.82B | −$89.0M | −1.00% |
| Q1 2017 | 2017-02-28 | $8.49B | $205.0M | +2.47% |
| Q4 2016 | 2016-11-30 | $8.85B | $1.46B | +19.74% |
| Q3 2016 | 2016-08-31 | $8.93B | $1.61B | +21.99% |
| Q2 2016 | 2016-05-31 | $8.91B | $939.0M | +11.78% |
| Q1 2016 | 2016-02-29 | $8.29B | −$569.0M | −6.42% |
| Q4 2015 | 2015-11-30 | $7.39B | −$1.36B | −15.59% |
| Q3 2015 | 2015-08-31 | $7.32B | −$1.11B | −13.17% |
| Q2 2015 | 2015-05-31 | $7.97B | −$1.12B | −12.34% |
| Q1 2015 | 2015-02-28 | $8.86B | −$330.0M | −3.59% |
| Q4 2014 | 2014-11-30 | $8.76B | −$341.0M | −3.75% |
| Q3 2014 | 2014-08-31 | $8.43B | −$606.0M | −6.71% |
| Q2 2014 | 2014-05-31 | $9.09B | −$58.0M | −0.63% |
| Q1 2014 | 2014-02-28 | $9.19B | $278.0M | +3.12% |
| Q4 2013 | 2013-11-30 | $9.10B | $661.0M | +7.83% |
| Q3 2013 | 2013-08-31 | $9.04B | $553.0M | +6.52% |
| Q2 2013 | 2013-05-31 | $9.15B | $51.0M | +0.56% |
| Q1 2013 | 2013-02-28 | $8.91B | −$145.0M | −1.60% |
| Q4 2012 | 2012-11-30 | $8.44B | −$466.0M | −5.23% |
| Q3 2012 | 2012-08-31 | $8.48B | −$908.0M | −9.67% |
| Q2 2012 | 2012-05-31 | $9.10B | −$185.0M | −1.99% |
| Q1 2012 | 2012-02-29 | $9.06B | $216.0M | +2.44% |
| Q4 2011 | 2011-11-30 | $8.90B | $581.0M | +6.98% |
| Q3 2011 | 2011-08-31 | $9.39B | $707.0M | +8.14% |
| Q2 2011 | 2011-05-31 | $9.29B | $714.0M | +8.33% |
| Q1 2011 | 2011-02-28 | $8.84B | −$1.05B | −10.63% |
| Q4 2010 | 2010-11-30 | $8.32B | −$372.0M | −4.28% |
| Q3 2010 | 2010-08-31 | $8.69B | −$175.0M | −1.98% |
| Q2 2010 | 2010-05-31 | $8.57B | — | — |
| Q1 2010 | 2010-02-28 | $9.89B | — | — |
| Q4 2009 | 2009-11-30 | $8.69B | $272.0M | +3.23% |
| Q3 2009 | 2009-08-31 | $8.86B | — | — |
| Q4 2008 | 2008-11-30 | $8.42B | — | — |
Carnival net debt trends
Over the last five fiscal years, Carnival's net debt increased from $19.49B to $26.81B, a change of $7.32B. The latest reported quarter, Q2 2026, shows $24.61B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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