Carnival Corporation (CCL) — Free Cash Flow Generation Index
Carnival Corporation (CCL) has a Free Cash Flow Generation Index of 0.55x as of February 2026. Free cash flow of $697.00 Million represents 1% of operating cash flow ($1.26 Billion). Explore CCL capex reinvestment rate to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Carnival Corporation Free Cash Flow Generation Index (1991–2025)
Historical FCF Generation Index trend for Carnival Corporation across 32 annual periods. For the full cash flow conversion analysis, see cash efficiency ratio of Carnival Corporation.
Annual Free Cash Flow Generation for Carnival Corporation (1991–2025)
Year-by-year Free Cash Flow Generation Index for Carnival Corporation. Check Carnival Corporation total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.42x | $2.61 Billion | $6.22 Billion | $3.61 Billion | ▲ +91.5% |
| 2024 | 0.22x | $1.30 Billion | $5.92 Billion | $4.63 Billion | ▼ -6.0% |
| 2023 | 0.23x | $997.00 Million | $4.28 Billion | $3.28 Billion | ▲ +2671.9% |
| 2019 | 0.01x | $46.00 Million | $5.47 Billion | $5.43 Billion | ▼ -97.4% |
| 2018 | 0.32x | $1.80 Billion | $5.55 Billion | $3.75 Billion | ▼ -27.4% |
| 2017 | 0.45x | $2.38 Billion | $5.32 Billion | $2.94 Billion | ▲ +10.7% |
| 2016 | 0.40x | $2.07 Billion | $5.13 Billion | $3.06 Billion | ▼ -18.5% |
| 2015 | 0.50x | $2.25 Billion | $4.54 Billion | $2.29 Billion | ▲ +100.6% |
| 2014 | 0.25x | $847.00 Million | $3.43 Billion | $2.58 Billion | ▲ +2.2% |
| 2013 | 0.24x | $685.00 Million | $2.83 Billion | $2.15 Billion | ▲ +8.7% |
| 2012 | 0.22x | $667.00 Million | $3.00 Billion | $2.33 Billion | ▼ -21.7% |
| 2011 | 0.28x | $1.07 Billion | $3.77 Billion | $2.70 Billion | ▲ +353.9% |
| 2010 | 0.06x | $239.00 Million | $3.82 Billion | $3.58 Billion | ▲ +650.5% |
| 2009 | -0.01x | $-38.00 Million | $3.34 Billion | $3.38 Billion | ▼ -201.5% |
| 2008 | 0.01x | $38.00 Million | $3.39 Billion | $3.35 Billion | ▼ -94.0% |
| 2007 | 0.19x | $757.00 Million | $4.07 Billion | $3.31 Billion | ▼ -41.4% |
| 2006 | 0.32x | $1.15 Billion | $3.63 Billion | $2.48 Billion | ▼ -24.5% |
| 2005 | 0.42x | $1.43 Billion | $3.41 Billion | $1.98 Billion | ▲ +465.3% |
| 2004 | -0.12x | $-370.00 Million | $3.22 Billion | $3.59 Billion | ▲ +61.9% |
| 2003 | -0.30x | $-583.00 Million | $1.93 Billion | $2.52 Billion | ▲ +14.4% |
| 2002 | -0.35x | $-517.45 Million | $1.47 Billion | $1.99 Billion | ▼ -205.8% |
| 2001 | 0.33x | $412.37 Million | $1.24 Billion | $826.57 Million | ▲ +89.4% |
| 2000 | 0.18x | $224.84 Million | $1.28 Billion | $1.05 Billion | ▼ -48.8% |
| 1999 | 0.34x | $456.74 Million | $1.33 Billion | $872.98 Million | ▲ +740.3% |
| 1998 | -0.05x | $-58.57 Million | $1.09 Billion | $1.15 Billion | ▼ -112.4% |
| 1997 | 0.43x | $379.92 Million | $877.58 Million | $497.66 Million | ▲ +300.2% |
| 1996 | -0.22x | $-160.38 Million | $741.52 Million | $901.90 Million | ▼ -222.9% |
| 1995 | 0.18x | $103.31 Million | $587.21 Million | $483.90 Million | ▲ +263.9% |
| 1994 | -0.11x | $-57.65 Million | $537.14 Million | $594.79 Million | ▲ +77.9% |
| 1993 | -0.49x | $-233.00 Million | $479.80 Million | $712.80 Million | ▼ -170.0% |
| 1992 | 0.69x | $273.50 Million | $394.30 Million | $120.80 Million | ▲ +4.9% |
| 1991 | 0.66x | $227.70 Million | $344.40 Million | $116.70 Million | — |