Stocks Comparison
Carnival vs Royal Caribbean Cruises: revenue, profit, margins and growth compared
Carnival brought in $26.6B of revenue in fiscal 2025, Royal Caribbean Cruises $17.9B in fiscal 2025. Revenue changed by +6.4% at Carnival and +8.8% at Royal Caribbean Cruises on the year before, so Royal Caribbean Cruises grew faster. Carnival kept 10.4% of its revenue as net profit, Royal Caribbean Cruises 23.8%. Free cash flow was $2.6B at Carnival and $1.2B at Royal Caribbean Cruises.
Side by side, latest fiscal year
| CCL | RCL | |
|---|---|---|
| Fiscal year ended | FY2025 (November 30, 2025) | FY2025 (December 31, 2025) |
| Revenue | $26.6B | $17.9B |
| Revenue growth | +6.4% | +8.8% |
| Net income | $2.8B | $4.3B |
| Net margin | 10.4% | 23.8% |
| Free cash flow | $2.6B | $1.2B |
| Free cash flow margin | 9.8% | 6.9% |
| Earnings per share (diluted) | $2.02 | $15.61 |
| Cash | $1.9B | $825M |
| Debt | $27.4B | $21.3B |
| Price to earnings | 11.0 | 15.6 |
| Market value | $30.5B | $64.9B |
| Dividend yield | n/a | 1.44% |
| Rank by revenue in sector | #42 of 778 · Consumer discretionary | #67 of 778 · Consumer discretionary |
Over the years
Questions about Carnival and Royal Caribbean Cruises
Which is bigger by revenue, Carnival or Royal Caribbean Cruises?
Carnival is bigger by revenue: $26.6B in fiscal 2025, against $17.9B for Royal Caribbean Cruises in fiscal 2025.
Which keeps more of its revenue as profit, Carnival or Royal Caribbean Cruises?
Carnival had a net margin of 10.4% in fiscal 2025; Royal Caribbean Cruises had 23.8% in fiscal 2025.
Which grew revenue faster, Carnival or Royal Caribbean Cruises?
In their latest fiscal years revenue changed by +6.4% at Carnival and +8.8% at Royal Caribbean Cruises.
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.