CCL Carnival Corporation Ltd (Paired Stock) margins

Relative Growth: Rel. Growth: 51

Relative Strength: Rel. Strength: 31

Relative Valuation: Rel. Valuation: 88

Relative Profitability: Rel. Profitability: 69

Gross margin

39.7%

Operating margin

16.3%

EBITDA margin

26.8%

Net margin

11.2%

Using the latest TTM figures, Carnival Corporation Ltd (Paired Stock) shows a gross margin of 39.7%, an operating margin of 16.3%, an EBITDA margin of 26.8%, and a net margin of 11.2%. The company's available margins all increased, with net margin recording the strongest expansion of 1.5 percentage points.

CCL margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Carnival Corporation Ltd (Paired Stock) recorded average margins of 37.8% gross, 14.34% operating, 25.04% EBITDA, and 7.32% net. Compared with their three-year averages, all four current margins are higher.

CCL margin expansion

Year-over-year margin changes in percentage points

The biggest expansion was in net margin, which rose by 1.5 percentage points. The other available margins also improved.

Gross margin expansion

0.5pp

Operating margin expansion

0.1pp

EBITDA margin expansion

0.2pp

Net margin expansion

1.5pp

CCL Gross margin

The average gross margin for Carnival Corporation Ltd (Paired Stock) was 37.8% over the last 3 years. Compared with its three-year average, Carnival Corporation Ltd (Paired Stock)'s current gross margin is 39.7% and is 1.9 percentage points above its three-year average. The gross margin for Carnival Corporation Ltd (Paired Stock) moved between 33.7% in Nov 2023 and 40.2% in Feb 2026.

CCL Operating margin

Over the last 3 years, Carnival Corporation Ltd (Paired Stock)'s operating margin averaged 14.34%. The current operating margin of 16.3% is 2 percentage points above its three-year average. During this period, operating margin reached a high of 16.9% in Feb 2026 and a low of 9.1% in Nov 2023.

CCL EBITDA margin

Carnival Corporation Ltd (Paired Stock) recorded an average EBITDA margin of 25.04% across the last 3 years. The latest EBITDA margin for Carnival Corporation Ltd (Paired Stock) is 26.8%, 1.8 percentage points above its three-year average. Carnival Corporation Ltd (Paired Stock)'s EBITDA margin ranged from a low of 20.9% in Nov 2023 to a high of 27.4% in Feb 2026.

CCL Net margin

Over the last 3 years, Carnival Corporation Ltd (Paired Stock) had an average net margin of 7.32%. Against its three-year average, Carnival Corporation Ltd (Paired Stock)'s net margin is currently 11.2%, 3.9 percentage points above its three-year average. Looking back over the last 3 years, Carnival Corporation Ltd (Paired Stock)'s net margin reached 11.5% at its highest point in Feb 2026 and -0.3% at its lowest in Nov 2023.

CCL margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 39.7%, CCL stands above the Consumer Cyclical sector average but below the industry average. In comparison with its Consumer Cyclical sector average of 36.3%, Carnival Corporation Ltd (Paired Stock)'s gross margin is 9% higher.

CCL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Carnival Corporation Ltd (Paired Stock)'s gross margin?

The current gross margin for CCL is 39.7% as of May 31, 2026.

What is Carnival Corporation Ltd (Paired Stock)'s operating margin?

For the period ending May 31, 2026, CCL recorded an operating margin of 16.3%.

What is Carnival Corporation Ltd (Paired Stock)'s EBITDA margin?

For the period ending May 31, 2026, CCL recorded an EBITDA margin of 26.8%.

What is Carnival Corporation Ltd (Paired Stock)'s net margin?

As of May 31, 2026, CCL has a net margin of 11.2%.

What are the average margins of CCL?

Looking back over 3 years, CCL recorded average margins of 37.8% gross, 14.3% operating, 25.0% EBITDA, and 7.3% net.

What are the highest historical margins of CCL?

Carnival Corporation Ltd (Paired Stock)'s highest recorded margins during the past 5 years were 40.2% gross in Feb 2026, 16.9% operating in Feb 2026, 27.4% EBITDA in Feb 2026, and 11.5% net in Feb 2026.

What are the lowest historical margins of CCL?

Over this 5-year history, Carnival Corporation Ltd (Paired Stock)'s margins fell as low as -112.9% gross in Nov 2021, -371.6% operating in Nov 2021, -290.8% EBITDA in Nov 2021, and -498% net in Nov 2021.