Stock Analysis on Net

Carnival Corp. & plc (NYSE:CCL)

Analysis of Profitability Ratios

Microsoft Excel

Profitability Ratios (Summary)

Carnival Corp. & plc, profitability ratios

Microsoft Excel
Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Return on Sales
Gross profit margin 33.70% 3.38% -143.97% -47.36% 38.01% 41.27%
Operating profit margin 9.06% -35.99% -371.54% -158.45% 15.73% 17.61%
Net profit margin -0.34% -50.07% -497.96% -182.95% 14.36% 16.69%
Return on Investment
Return on equity (ROE) -1.08% -86.24% -78.24% -49.80% 11.79% 12.90%
Return on assets (ROA) -0.15% -11.78% -17.81% -19.10% 6.64% 7.43%

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Carnival Corp. & plc gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Carnival Corp. & plc operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Carnival Corp. & plc net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Carnival Corp. & plc ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
ROA A profitability ratio calculated as net income divided by total assets. Carnival Corp. & plc ROA improved from 2021 to 2022 and from 2022 to 2023.

Gross Profit Margin

Carnival Corp. & plc, gross profit margin calculation, comparison to benchmarks

Microsoft Excel
Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Selected Financial Data (US$ in millions)
Gross profit (loss) 7,276 411 (2,747) (2,650) 7,916 7,792
Revenues 21,593 12,168 1,908 5,595 20,825 18,881
Profitability Ratio
Gross profit margin1 33.70% 3.38% -143.97% -47.36% 38.01% 41.27%
Benchmarks
Gross Profit Margin, Competitors2
Airbnb Inc. 82.83% 82.15% 80.71% 74.07%
Chipotle Mexican Grill Inc. 26.20% 23.88% 22.62% 17.40% 20.45%
McDonald’s Corp. 57.12% 56.97% 54.17% 50.77% 52.74%
Starbucks Corp. 27.37% 25.96% 28.87% 21.51% 28.25% 29.74%

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).

1 2023 Calculation
Gross profit margin = 100 × Gross profit (loss) ÷ Revenues
= 100 × 7,276 ÷ 21,593 = 33.70%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Carnival Corp. & plc gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Operating Profit Margin

Carnival Corp. & plc, operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,956 (4,379) (7,089) (8,865) 3,276 3,325
Revenues 21,593 12,168 1,908 5,595 20,825 18,881
Profitability Ratio
Operating profit margin1 9.06% -35.99% -371.54% -158.45% 15.73% 17.61%
Benchmarks
Operating Profit Margin, Competitors2
Airbnb Inc. 15.31% 21.45% 7.17% -106.27%
Booking Holdings Inc. 27.31% 29.85% 22.78% -9.28% 35.48%
Chipotle Mexican Grill Inc. 15.78% 13.44% 10.67% 4.85% 7.95%
McDonald’s Corp. 45.68% 40.42% 44.59% 38.13% 43.03%
Starbucks Corp. 16.32% 14.32% 16.77% 6.64% 15.38% 15.71%
Operating Profit Margin, Sector
Consumer Services 22.85% 17.37% 15.08% -6.06% 24.94%
Operating Profit Margin, Industry
Consumer Discretionary 9.14% 8.09% 8.18% 5.56% 7.83%

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).

1 2023 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 1,956 ÷ 21,593 = 9.06%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Carnival Corp. & plc operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Profit Margin

Carnival Corp. & plc, net profit margin calculation, comparison to benchmarks

Microsoft Excel
Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Selected Financial Data (US$ in millions)
Net income (loss) (74) (6,093) (9,501) (10,236) 2,990 3,152
Revenues 21,593 12,168 1,908 5,595 20,825 18,881
Profitability Ratio
Net profit margin1 -0.34% -50.07% -497.96% -182.95% 14.36% 16.69%
Benchmarks
Net Profit Margin, Competitors2
Airbnb Inc. 48.32% 22.54% -5.88% -135.71%
Booking Holdings Inc. 20.07% 17.89% 10.63% 0.87% 32.29%
Chipotle Mexican Grill Inc. 12.45% 10.41% 8.65% 5.94% 6.27%
McDonald’s Corp. 33.22% 26.65% 32.49% 24.63% 28.59%
Starbucks Corp. 11.46% 10.18% 14.45% 3.95% 13.58% 18.28%
Net Profit Margin, Sector
Consumer Services 18.38% 9.06% 4.71% -13.57% 20.02%
Net Profit Margin, Industry
Consumer Discretionary 7.82% 4.67% 8.37% 4.18% 6.13%

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) ÷ Revenues
= 100 × -74 ÷ 21,593 = -0.34%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Carnival Corp. & plc net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Return on Equity (ROE)

Carnival Corp. & plc, ROE calculation, comparison to benchmarks

Microsoft Excel
Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Selected Financial Data (US$ in millions)
Net income (loss) (74) (6,093) (9,501) (10,236) 2,990 3,152
Shareholders’ equity 6,882 7,065 12,144 20,555 25,365 24,443
Profitability Ratio
ROE1 -1.08% -86.24% -78.24% -49.80% 11.79% 12.90%
Benchmarks
ROE, Competitors2
Airbnb Inc. 58.69% 34.05% -7.37% -158.00%
Booking Holdings Inc. 109.92% 18.86% 1.21% 82.00%
Chipotle Mexican Grill Inc. 40.13% 37.97% 28.42% 17.61% 20.81%
McDonald’s Corp.
Starbucks Corp. 386.34%
ROE, Sector
Consumer Services 857.04% 300.69% 23.97% -59.34% 96.18%
ROE, Industry
Consumer Discretionary 30.04% 19.34% 30.06% 18.33% 31.35%

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).

1 2023 Calculation
ROE = 100 × Net income (loss) ÷ Shareholders’ equity
= 100 × -74 ÷ 6,882 = -1.08%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Carnival Corp. & plc ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Return on Assets (ROA)

Carnival Corp. & plc, ROA calculation, comparison to benchmarks

Microsoft Excel
Nov 30, 2023 Nov 30, 2022 Nov 30, 2021 Nov 30, 2020 Nov 30, 2019 Nov 30, 2018
Selected Financial Data (US$ in millions)
Net income (loss) (74) (6,093) (9,501) (10,236) 2,990 3,152
Total assets 49,120 51,703 53,344 53,593 45,058 42,401
Profitability Ratio
ROA1 -0.15% -11.78% -17.81% -19.10% 6.64% 7.43%
Benchmarks
ROA, Competitors2
Airbnb Inc. 23.21% 11.80% -2.57% -43.70%
Booking Holdings Inc. 17.62% 12.06% 4.93% 0.27% 22.73%
Chipotle Mexican Grill Inc. 15.27% 12.98% 9.81% 5.95% 6.86%
McDonald’s Corp. 15.08% 12.25% 14.01% 8.99% 12.68%
Starbucks Corp. 14.01% 11.73% 13.38% 3.16% 18.73% 18.70%
ROA, Sector
Consumer Services 12.16% 5.16% 2.03% -5.03% 12.89%
ROA, Industry
Consumer Discretionary 7.44% 4.36% 7.07% 3.39% 5.64%

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30).

1 2023 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × -74 ÷ 49,120 = -0.15%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Carnival Corp. & plc ROA improved from 2021 to 2022 and from 2022 to 2023.