The Business StudyHow Carnival makes money
Carnival brought in $26.6 billion in revenue in the year ended November 30, 2025 and kept $2.8 billion as profit: $10.37 of every $100. Its biggest source of money was Cruise tickets, at $17.4 billion (65% of the total).
From Carnival's Form 10-K for the year ended November 30, 2025. Page updated November 8, 2026.
Out of every $100 Carnival took in, it kept
Where Carnival's money comes from. 2 lines in its 10‑K.
6 years of Carnival's revenue and profit.
Fiscal years as Carnival reports them; the latest ended November 30, 2025. Profit is net income.
Quick answers about Carnival.
How does Carnival make money?
Carnival sells cruise tickets and then sells drinks, excursions, casino time and more on board. The biggest line in its latest 10-K is Cruise tickets ($17.4 billion).
How much money does Carnival make a year?
$26.6 billion in revenue in the year ended November 30, 2025, and $2.8 billion in net profit. That's up 6% from the year before.
Is Carnival profitable?
Yes. Carnival made $2.8 billion in net profit in the year ended November 30, 2025, which is $10.37 of every $100 it took in. It lost money in 2020, 2021, 2022, 2023.
How many employees does Carnival have?
About 101,000 employees on board its ships on average as of 2025 (average). That works out to $263,584 in revenue per employee.
Is Carnival growing?
Yes. Revenue went from $5.6 billion in 2020 to $26.6 billion in 2025, up 376%.
Compare Carnival.
Source: Carnival Corporation & plc, annual report on Form 10-K for the fiscal year ended November 30, 2025, filed with the SEC on January 27, 2026.
Revenue, profit and the breakdowns are the numbers the company reported in that filing (its XBRL data). Profit means net income; "operating profit" means operating income. Nothing on this page is estimated.