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C

Carnival CCL · USD

Consumer Discretionary · Hotels, Restaurants & Leisure · US listing · 🇺🇸 United States

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30.81

+4.16%

Close of 9 Nov 2026, in USD

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About Carnival

From its filings with the US Securities and Exchange Commission

SEC filings

Carnival is based in Miami, Florida and is incorporated in Bermuda. Its shares trade on NYSE under the ticker CCL. It is a member of the S&P 500. The SEC classifies its business as water transportation. In the fiscal year to 30 November 2025, it reported revenue of $26.62bn and net income of $2.76bn. At that date it held total assets of $51.69bn and shareholders' equity of $12.28bn.

In its own words

Carnival Corporation was incorporated in Panama in 1974 and Carnival plc was incorporated in England and Wales in 2000. Carnival Corporation and Carnival plc operate a dual listed company whereby the businesses of Carnival Corporation and Carnival plc are combined through a number of contracts and through provisions in Carnival Corporation’s Articles of Incorporation and By-Laws and Carnival plc’s Articles of Association. The two companies operate as if they are a single economic enterprise with a single executive management team and identical Boards of Directors, but each has retained its separate legal identity. Carnival Corporation and Carnival plc are both public companies with separate stock exchange listings and their own shareholders. Together with their consolidated subsidiaries, Carnival Corporation and Carnival plc are referred to collectively in this Form 10-K as “Carnival Corporation & plc,” “company,” “our,” “us” and “we.” We are the largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines - AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn. During 2025, we sunset the P&O Cruises (Australia) brand and folded its Australia operations into Carnival Cruise Line.

Quoted from its 10-K, filed 27 Jan 2026. Read the filing on SEC.gov ↗

Company facts

Sector
Consumer Discretionary
Industry
Hotels, Restaurants & Leisure
Listed since
26 Nov 1991
Employees
101,000
Head office
3655 NW 87TH AVE, MIAMI, FL, 33178-2428
Incorporated in
D0
Classification
Water Transportation
Filer status
Large accelerated filer

Leadership

Pay as last reported

  • Mr. Micky ArisonExecutive Chairman of the Board, since 1979$127,357
  • Mr. Josh WeinsteinPresident, Chief Executive Officer, Chief Climate Officer, Executive Director, since 2020$23.6m
  • Mr. David BernsteinChief Financial Officer, Chief Accounting Officer$14.5m
  • Ms. Bettina DeynesGlobal Chief Human Resources Officer$2.8m
  • Mr. Enrique MiguezGeneral Counsel$5.9m
  • Mr. Lars LjoenChief Maritime Officer
  • Mr. Randall WeisenburgerPresiding Senior Non-Executive Independent Director$396,378
  • Sir Jonathon BandNon-Executive Independent Director$345,128
  • Mr. Jason CahillyNon-Executive Independent Director$315,128
  • Ms. Nelda ConnorsNon-Executive Independent Director$268,607
  • Ms. Helen DeebleNon-Executive Independent Director$315,128
  • Mr. Jeffrey GearhartNon-Executive Independent Director$337,628

Environmental, social and governance

Scores out of 100, from our data supplier

ESG
Overall
81
Environment
78
Social
80
Governance
84
Direct emissions (scope 1)
9,610,000 t
Energy emissions (scope 2)
38,000 t
Value chain emissions (scope 3)
7,562,000 t
Women in the workforce
23.28302%
Carbon reduction policy
Yes
Human rights policy
Yes

SWOT analysis

AI-generated by our data supplier. Not written or checked by our editors.

AI-generated

Strengths

  • Carnival Corp has a strong global brand presence and is one of the largest cruise line companies in the world. With a diverse portfolio of popular cruise brands, such as Carnival Cruise Line, Princess Cruises, and Holland America Line, it caters to a wide range of customers and offers a variety of cruise experiences.
  • The company benefits from economies of scale, allowing it to achieve cost efficiencies and offer competitive pricing options. Carnival Corp's strong relationships with suppliers and its ability to negotiate favorable contracts contribute to its cost advantage.
  • Carnival Corp also possesses a highly experienced management team with deep industry knowledge. This expertise enables the company to navigate and adapt to changing market conditions effectively.

Weaknesses

  • The cruise industry is susceptible to external factors, such as economic downturns, geopolitical events, and health concerns. Carnival Corp experienced a significant setback due to the impact of the COVID-19 pandemic, highlighting its vulnerability to unforeseen circumstances.
  • Despite implementing various safety measures, the company faced negative media attention and public perception issues following a series of high-profile incidents involving its cruise ships.
  • Carnival Corp heavily relies on international operations, which exposes it to currency exchange rate fluctuations and geopolitical risks, including changes in regulations, taxes, or political instability.

Opportunities

  • The cruise industry continues to witness a steady growth in demand, driven by the increasing popularity of cruising among various demographic groups, including millennials and multigenerational families. Carnival Corp can leverage this opportunity by targeting untapped markets and developing new innovative cruise experiences.
  • The company can also enhance its sustainability practices to appeal to environmentally-conscious consumers who are seeking eco-friendly travel options. Investing in greener technologies and initiatives can not only attract new customers but also help reduce operational costs in the long run.

Threats

  • Intense competition within the cruise industry poses a threat to Carnival Corp's market share. Other major cruise companies, as well as alternative vacation options, such as all-inclusive resorts or land-based travel, may lure customers away.
  • Ongoing geopolitical tensions, trade disputes, or epidemics/pandemics can disrupt the company's operations and negatively impact consumer sentiment towards travel. Additionally, unpredictable weather conditions and natural disasters can lead to itinerary changes or cancellations, further affecting customer satisfaction.
  • Changes in regulations and environmental policies can impose additional costs and compliance burdens on cruise companies. Political or regulatory interventions related to safety, health, labor, or environmental standards may require significant investments or alterations in Carnival Corp's operations.

Sources and methodology

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