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Carnival vs International Seaways: revenue, profit, margins and growth compared

Carnival brought in $26.6B of revenue in fiscal 2025, International Seaways $843.3M in fiscal 2025. Revenue changed by +6.4% at Carnival and -11.4% at International Seaways on the year before, so Carnival grew faster. Carnival kept 10.4% of its revenue as net profit, International Seaways 36.7%.

Side by side, latest fiscal year

CCLINSW
Fiscal year endedFY2025 (November 30, 2025)FY2025 (December 31, 2025)
Revenue$26.6B$843.3M
Revenue growth+6.4%-11.4%
Net income$2.8B$309.3M
Net margin10.4%36.7%
Free cash flow$2.6Bn/a
Free cash flow margin9.8%n/a
Earnings per share (diluted)$2.02$6.23
Cash$1.9B$116.9M
Debt$27.4B$567.1M
Price to earnings11.017.0
Market value$30.5B$5.2B
Dividend yieldn/a2.77%
Rank by revenue in sector#42 of 778 · Consumer discretionary#487 of 778 · Consumer discretionary

Over the years

Revenue
CCL FY2018: $18.9BCCL FY2019: $20.8BCCL FY2020: $5.6BCCL FY2021: $1.9BCCL FY2022: $12.2BCCL FY2023: $21.6BCCL FY2024: $25BCCL FY2025: $26.6BINSW FY2018: $270.4MINSW FY2019: $366.2MINSW FY2020: $421.6MINSW FY2021: $272.5MINSW FY2022: $864.7MINSW FY2023: $1.1BINSW FY2024: $951.6MINSW FY2025: $843.3MFY18FY19FY20FY21FY22FY23FY24FY25
CCL $26.6BINSW $843.3M
Net income
CCL FY2018: $3.2BCCL FY2019: $3BCCL FY2020: -$10.2BCCL FY2021: -$9.5BCCL FY2022: -$6.1BCCL FY2023: -$74MCCL FY2024: $1.9BCCL FY2025: $2.8BINSW FY2018: -$88.9MINSW FY2019: -$830KINSW FY2020: -$5.5MINSW FY2021: -$133.5MINSW FY2022: $387.9MINSW FY2023: $556.4MINSW FY2024: $416.7MINSW FY2025: $309.3MFY18FY19FY20FY21FY22FY23FY24FY25
CCL $2.8BINSW $309.3M
Net margin
CCL FY2018: 16.7%CCL FY2019: 14.4%CCL FY2020: -182.9%CCL FY2021: -498.0%CCL FY2022: -50.1%CCL FY2023: -0.3%CCL FY2024: 7.7%CCL FY2025: 10.4%INSW FY2018: -32.9%INSW FY2019: -0.2%INSW FY2020: -1.3%INSW FY2021: -49.0%INSW FY2022: 44.9%INSW FY2023: 51.9%INSW FY2024: 43.8%INSW FY2025: 36.7%FY18FY19FY20FY21FY22FY23FY24FY25
CCL 10.4%INSW 36.7%
Revenue growth
CCL FY2019: +10.3%CCL FY2020: -73.1%CCL FY2021: -65.9%CCL FY2022: +537.7%CCL FY2023: +77.5%CCL FY2024: +15.9%CCL FY2025: +6.4%INSW FY2019: +35.4%INSW FY2020: +15.1%INSW FY2021: -35.4%INSW FY2022: +217.3%INSW FY2023: +24.0%INSW FY2024: -11.2%INSW FY2025: -11.4%FY19FY20FY21FY22FY23FY24FY25
CCL +6.4%INSW -11.4%
Free cash flow
CCL FY2018: $1.8BCCL FY2019: $46MCCL FY2020: -$9.9BCCL FY2021: -$7.7BCCL FY2022: -$6.6BCCL FY2023: $997MCCL FY2024: $1.3BCCL FY2025: $2.6BINSW FY2018: -$161.4MFY18FY19FY20FY21FY22FY23FY24FY25
CCL $2.6BINSW -$161.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Carnival and International Seaways

Which is bigger by revenue, Carnival or International Seaways?

Carnival is bigger by revenue: $26.6B in fiscal 2025, against $843.3M for International Seaways in fiscal 2025.

Which keeps more of its revenue as profit, Carnival or International Seaways?

Carnival had a net margin of 10.4% in fiscal 2025; International Seaways had 36.7% in fiscal 2025.

Which grew revenue faster, Carnival or International Seaways?

In their latest fiscal years revenue changed by +6.4% at Carnival and -11.4% at International Seaways.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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