Booking vs Carnival
Booking and Carnival are similar in size: $26.92bn and $26.62bn of revenue in their latest fiscal years. Booking grew faster (13.4% against 6.4%). Booking kept more of each dollar of sales as profit: a net margin of 20.1% against 10.4%.
| Latest fiscal year | BookingBKNG, 2025 | CarnivalCCL, 2025 |
|---|---|---|
| Revenue | $26.92bn | $26.62bn |
| Revenue growth | 13.4% | 6.4% |
| Net income | $5.40bn | $2.76bn |
| Operating margin | 32.8% | 16.8% |
| Net margin | 20.1% | 10.4% |
| Return on equity | — | 25.6% |
| Free cash flow | $9.09bn | $2.61bn |
| Cash | $17.20bn | $1.93bn |
| Total debt | $18.90bn | $27.38bn |
| Debt to equity | — | 223.2% |
| Dividend per share | — | — |
| Dividend yield | 1.1% | — |
| Share buybacks | $6.44bn | — |
| Employees | 24,300 | 101,000 |
| Market value | $118.08bn | $40.01bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 82 (Strong) | 53 (Moderate) |
| Insider trades, 12 months | 0 buys, 282 sales | 0 buys, 6 sales |