Company / Operating Margin
Carnival Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
16.8%
FY2025
5-year range
-371.5% / 16.8%
FY2021-FY2025
Trend
+17.9%
vs FY2024
Sector context
#40 of 195
Consumer Discretionary
What the data says
Carnival's operating margin of 16.8% is higher than 79% of companies in the Consumer Discretionary sector (FY2025). Operating Margin has increased for 4 consecutive years, from -371.5% in FY2021 to 16.8% in FY2025.
Based on SEC 10-K filings.
16.8% in FY2025 with a 5-year CAGR of -0.8%. Top quartile in the Consumer Discretionary sector.
Improved from 9.1% to 16.8% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +52.8pp
- 5-Year Change
- -0.8pp
- 10-Year Change
- -
Sector benchmark
+369.6% above sector average
Key checks
Key Insights
- Carnival's operating margin has grown for 4 consecutive years.
- In FY2025, operating margin increased 17.9% year-over-year.
- Currently 13.3pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2016.
Company context
Key Data Points
- Altman Z-Score 0.87 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
- Strong return on equity: 23.1%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 16.8% | +17.9% |
| FY2024 | 14.3% | +57.6% |
| FY2023 | 9.1% | +125.2% |
| FY2022 | -36.0% | +90.3% |
| FY2021 | -371.5% | -2209.8% |
| FY2020 | 17.6% | +12.0% |
| FY2019 | 15.7% | -10.7% |
| FY2018 | 17.6% | +9.8% |
| FY2017 | 16.0% | -14.4% |
| FY2016 | 18.7% | +14.4% |
As of FY2025 · SEC Form 10-K · Last checked Jun 30, 2026