Carnival Corporation & plc
Carnival Corporation & plc, a cruise company, provides leisure travel services in North America, Australia, Europe, and internationally. The company operates through four segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations and islands, as well as owns and operates hotels, lodges, glass-domed railcars, and motorcoac… Read more
Carnival Corporation & plc (CUKPF) - Net Assets
Latest net assets as of November 2025: $12.28 Billion USD
Based on the latest financial reports, Carnival Corporation & plc (CUKPF) has net assets worth $12.28 Billion USD as of November 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($51.69 Billion) and total liabilities ($39.40 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $12.28 Billion |
| % of Total Assets | 23.76% |
| Annual Growth Rate | 11.03% |
| 5-Year Change | 1.14% |
| 10-Year Change | -45.64% |
| Growth Volatility | 37.02 |
Carnival Corporation & plc - Net Assets Trend (1986–2025)
This chart illustrates how Carnival Corporation & plc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Carnival Corporation & plc (1986–2025)
The table below shows the annual net assets of Carnival Corporation & plc from 1986 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-11-30 | $12.28 Billion | +32.77% |
| 2024-11-30 | $9.25 Billion | +34.42% |
| 2023-11-30 | $6.88 Billion | -2.58% |
| 2022-11-30 | $7.06 Billion | -41.84% |
| 2021-11-30 | $12.14 Billion | -40.91% |
| 2020-11-30 | $20.55 Billion | -18.96% |
| 2019-11-30 | $25.36 Billion | +3.77% |
| 2018-11-30 | $24.44 Billion | +0.94% |
| 2017-11-30 | $24.22 Billion | +7.16% |
| 2016-11-30 | $22.60 Billion | -4.94% |
| 2015-11-30 | $23.77 Billion | -2.13% |
| 2014-11-30 | $24.29 Billion | -1.09% |
| 2013-11-30 | $24.56 Billion | +2.62% |
| 2012-11-30 | $23.93 Billion | +0.41% |
| 2011-11-30 | $23.83 Billion | +3.48% |
| 2010-11-30 | $23.03 Billion | +4.52% |
| 2009-11-30 | $22.04 Billion | +15.38% |
| 2008-11-30 | $19.10 Billion | -4.33% |
| 2007-11-30 | $19.96 Billion | +9.63% |
| 2006-11-30 | $18.21 Billion | +7.29% |
| 2005-11-30 | $16.97 Billion | +7.69% |
| 2004-11-30 | $15.76 Billion | +14.26% |
| 2003-11-30 | $13.79 Billion | +85.94% |
| 2002-11-30 | $7.42 Billion | +12.55% |
| 2001-11-30 | $6.59 Billion | +12.27% |
| 2000-11-30 | $5.87 Billion | -1.02% |
| 1999-11-30 | $5.93 Billion | +34.25% |
| 1998-11-30 | $4.42 Billion | +22.55% |
| 1997-11-30 | $3.61 Billion | +18.95% |
| 1996-11-30 | $3.03 Billion | +29.26% |
| 1995-11-30 | $2.34 Billion | +21.56% |
| 1994-11-30 | $1.93 Billion | +18.54% |
| 1993-11-30 | $1.63 Billion | +17.50% |
| 1992-11-30 | $1.38 Billion | +18.25% |
| 1991-11-30 | $1.17 Billion | +13.03% |
| 1990-11-30 | $1.04 Billion | +16.00% |
| 1989-11-30 | $893.20 Million | +18.73% |
| 1988-11-30 | $752.30 Million | +18.38% |
| 1987-11-30 | $635.50 Million | +205.82% |
| 1986-11-30 | $207.80 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Carnival Corporation & plc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2411.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (November 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.82 Billion | 39.21% |
| Common Stock | $374.00 Million | 3.04% |
| Other Comprehensive Income | $-1.81 Billion | -14.73% |
| Other Components | $8.90 Billion | 72.48% |
| Total Equity | $12.28 Billion | 100.00% |
Carnival Corporation & plc Competitors by Market Cap
The table below lists competitors of Carnival Corporation & plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zimmer Biomet Holdings Inc
NYSE:ZBH
|
$18.29 Billion |
|
Chow Tai Fook Jewellery Group
PINK:CJEWY
|
$18.30 Billion |
|
Tenet Healthcare Corporation
NYSE:THC
|
$18.32 Billion |
|
BWX Technologies Inc
NYSE:BWXT
|
$18.32 Billion |
|
Nidec Corporation
PINK:NNDNF
|
$18.28 Billion |
|
PTC Inc
NASDAQ:PTC
|
$18.27 Billion |
|
LyondellBasell Industries NV
NYSE:LYB
|
$18.22 Billion |
|
International Flavors & Fragrances Inc
NYSE:IFF
|
$18.21 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Carnival Corporation & plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,252,000,000 to 12,284,000,000, a change of 3,032,000,000 (32.8%).
- Net income of 2,760,000,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 164,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.76 Billion | +22.47% |
| Other Comprehensive Income | $164.00 Million | +1.34% |
| Other Changes | $108.00 Million | +0.88% |
| Total Change | $- | 32.77% |
Book Value vs Market Value Analysis
This analysis compares Carnival Corporation & plc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.63x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 29.78x to 1.63x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1986-11-30 | $0.48 | $14.25 | x |
| 1987-11-30 | $1.18 | $14.25 | x |
| 1988-11-30 | $1.40 | $14.25 | x |
| 1989-11-30 | $1.64 | $14.25 | x |
| 1990-11-30 | $1.90 | $14.25 | x |
| 1991-11-30 | $2.08 | $14.25 | x |
| 1992-11-30 | $2.45 | $14.25 | x |
| 1993-11-30 | $2.88 | $14.25 | x |
| 1994-11-30 | $3.41 | $14.25 | x |
| 1995-11-30 | $4.04 | $14.25 | x |
| 1996-11-30 | $5.23 | $14.25 | x |
| 1997-11-30 | $6.22 | $14.25 | x |
| 1998-11-30 | $7.18 | $14.25 | x |
| 1999-11-30 | $9.59 | $14.25 | x |
| 2000-11-30 | $9.73 | $14.25 | x |
| 2001-11-30 | $11.17 | $14.25 | x |
| 2002-11-30 | $12.27 | $14.25 | x |
| 2003-11-30 | $18.82 | $14.25 | x |
| 2004-11-30 | $19.04 | $14.25 | x |
| 2005-11-30 | $20.34 | $14.25 | x |
| 2006-11-30 | $22.13 | $14.25 | x |
| 2007-11-30 | $24.11 | $14.25 | x |
| 2008-11-30 | $23.40 | $14.25 | x |
| 2009-11-30 | $27.41 | $14.25 | x |
| 2010-11-30 | $28.61 | $14.25 | x |
| 2011-11-30 | $30.21 | $14.25 | x |
| 2012-11-30 | $30.72 | $14.25 | x |
| 2013-11-30 | $31.60 | $14.25 | x |
| 2014-11-30 | $31.22 | $14.25 | x |
| 2015-11-30 | $30.51 | $14.25 | x |
| 2016-11-30 | $30.25 | $14.25 | x |
| 2017-11-30 | $33.40 | $14.25 | x |
| 2018-11-30 | $34.43 | $14.25 | x |
| 2019-11-30 | $36.65 | $14.25 | x |
| 2020-11-30 | $26.52 | $14.25 | x |
| 2021-11-30 | $10.81 | $14.25 | x |
| 2022-11-30 | $5.99 | $14.25 | x |
| 2023-11-30 | $5.45 | $14.25 | x |
| 2024-11-30 | $6.62 | $14.25 | x |
| 2025-11-30 | $8.76 | $14.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Carnival Corporation & plc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 22.47%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.37%
- • Asset Turnover: 0.52x
- • Equity Multiplier: 4.21x
- Recent ROE (22.47%) is above the historical average (8.39%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1986 | 47.02% | 23.22% | 0.80x | 2.54x | $76.92 Million |
| 1987 | 24.04% | 27.09% | 0.60x | 1.48x | $89.25 Million |
| 1988 | 26.11% | 32.75% | 0.57x | 1.40x | $121.17 Million |
| 1989 | 21.67% | 16.87% | 0.52x | 2.49x | $104.28 Million |
| 1990 | 19.90% | 14.82% | 0.52x | 2.59x | $102.59 Million |
| 1991 | 7.26% | 6.05% | 0.53x | 2.26x | $-32.11 Million |
| 1992 | 19.97% | 18.77% | 0.56x | 1.91x | $138.12 Million |
| 1993 | 19.56% | 20.44% | 0.48x | 1.98x | $155.48 Million |
| 1994 | 19.79% | 21.14% | 0.49x | 1.90x | $188.87 Million |
| 1995 | 19.24% | 22.58% | 0.49x | 1.75x | $216.60 Million |
| 1996 | 18.68% | 25.59% | 0.43x | 1.68x | $263.21 Million |
| 1997 | 18.48% | 27.21% | 0.45x | 1.51x | $305.54 Million |
| 1998 | 19.51% | 27.78% | 0.42x | 1.68x | $407.34 Million |
| 1999 | 17.32% | 29.27% | 0.42x | 1.40x | $433.88 Million |
| 2000 | 16.44% | 25.46% | 0.39x | 1.67x | $377.94 Million |
| 2001 | 14.05% | 20.36% | 0.39x | 1.75x | $266.92 Million |
| 2002 | 13.70% | 23.18% | 0.36x | 1.66x | $274.21 Million |
| 2003 | 8.61% | 17.67% | 0.27x | 1.78x | $-192.30 Million |
| 2004 | 11.76% | 19.06% | 0.35x | 1.75x | $278.00 Million |
| 2005 | 13.27% | 20.31% | 0.39x | 1.68x | $555.80 Million |
| 2006 | 12.52% | 19.25% | 0.39x | 1.68x | $458.00 Million |
| 2007 | 12.06% | 18.48% | 0.38x | 1.71x | $411.70 Million |
| 2008 | 12.17% | 15.55% | 0.45x | 1.75x | $414.20 Million |
| 2009 | 8.12% | 13.30% | 0.37x | 1.67x | $-413.50 Million |
| 2010 | 8.59% | 13.67% | 0.39x | 1.63x | $-325.10 Million |
| 2011 | 8.02% | 12.11% | 0.41x | 1.62x | $-471.20 Million |
| 2012 | 5.42% | 8.44% | 0.39x | 1.64x | $-1.09 Billion |
| 2013 | 4.30% | 6.83% | 0.39x | 1.63x | $-1.40 Billion |
| 2014 | 5.01% | 7.66% | 0.40x | 1.63x | $-1.21 Billion |
| 2015 | 7.39% | 11.18% | 0.40x | 1.65x | $-620.10 Million |
| 2016 | 12.30% | 16.96% | 0.42x | 1.72x | $519.30 Million |
| 2017 | 10.76% | 14.88% | 0.43x | 1.68x | $184.40 Million |
| 2018 | 12.90% | 16.69% | 0.45x | 1.73x | $707.70 Million |
| 2019 | 11.79% | 14.36% | 0.46x | 1.78x | $453.50 Million |
| 2020 | -49.80% | -182.98% | 0.10x | 2.61x | $-12.29 Billion |
| 2021 | -78.23% | -497.96% | 0.04x | 4.39x | $-10.72 Billion |
| 2022 | -86.25% | -50.07% | 0.24x | 7.32x | $-6.80 Billion |
| 2023 | -1.08% | -0.34% | 0.44x | 7.14x | $-762.20 Million |
| 2024 | 20.71% | 7.66% | 0.51x | 5.30x | $990.80 Million |
| 2025 | 22.47% | 10.37% | 0.52x | 4.21x | $1.53 Billion |
Industry Comparison
This section compares Carnival Corporation & plc's net assets metrics with peer companies in the Travel Services industry.
Industry Context
- Industry: Travel Services
- Average net assets among peers: $1,597,393,848
- Average return on equity (ROE) among peers: -35.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Carnival Corporation & plc (CUKPF) | $12.28 Billion | 47.02% | 3.21x | $18.29 Billion |
| Airbnb Inc (ABNB) | $-517.31 Million | 0.00% | 0.00x | $53.81 Billion |
| Ambitions Enterprise Management Co. L.L.C Class A Ordinary Shares (AHMA) | $4.00 Million | 32.27% | 1.02x | $9.98 Million |
| Booking Holdings Inc (BKNG) | $402.60 Million | -262.07% | 0.10x | $140.30 Billion |
| Carnival Corporation (CCL) | $13.79 Billion | 8.61% | 0.78x | $32.20 Billion |
| Consolidated Capital of North America Inc (CDNO) | $93.27K | 0.00% | 0.02x | $8.78 |
| Carnival Plc ADS (CUK) | $207.80 Million | 47.02% | 1.54x | $32.14 Billion |
| Despegar.com Corp (DESP) | $92.85 Million | -151.47% | 8.10x | $1.36 Billion |
| Jet2 plc (DRTGF) | $157.20 Million | 20.87% | 5.37x | $2.31 Billion |
| eDreams ODIGEO S.A (EDDRF) | $236.30 Million | -18.34% | 3.54x | $429.02 Million |