Carnival (CCL) 10-K Summaries & Annual Filing History
Review Carnival Corporation Ltd. (CCL) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Nov 30, 2025 · FY2025 10-K
Carnival Corporation reported its annual financial results for the most recent fiscal year, showing increased revenue and positive operating income. The company continues to operate a global cruise business and faces various risks as detailed in its filing.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$26.6B
Revenue reported for the fiscal year.
Operating income
$4.5B
Income from operations reported for the year.
Net income
$2.8B
Net income reported for the year.
Operating cash flow
$6.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Nov 30, 2022 | $12.2B | +537.7% |
| Nov 30, 2023 | $21.6B | +77.5% |
| Nov 30, 2024 | $25B | +15.9% |
| Nov 30, 2025 | $26.6B | +6.4% |
Business overview
Carnival is a global cruise company that operates a fleet of ships providing vacation experiences. The business is part of the broader cruise industry, and the company manages its operations across multiple brands.
Financial performance
Revenue grew compared to the prior year, and the company reported operating income and net income for the period. Operating cash flow was also positive, reflecting strong cash generation. The trend over recent years shows consistent revenue growth.
Material risks
The filing identifies risk factors that could materially impact the company's business, including industry conditions and macroeconomic factors. These risks are discussed in the Risk Factors section of the report. Investors should consider these uncertainties.
Liquidity and capital
The company generated operating cash flow, which supports its liquidity and ongoing operations. Capital allocation decisions are based on business needs and market conditions.
What to watch
The next filing should be monitored for updates on revenue growth and any changes in the identified risk factors.