Carnival Corporation balance sheet

At the end of fiscal 2025, Carnival Corporation had total assets of $51.69bn and shareholders' equity of $12.27bn. It held $1.93bn in cash against $27.38bn of debt: net debt of $25.45bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Carnival Corporation: balance sheet, annual
Fiscal year	2007Nov 2007	2008Nov 2008	2009Nov 2009	2014Nov 2014	2015Nov 2015	2016Nov 2016	2017Nov 2017	2018Nov 2018	2019Nov 2019	2020Nov 2020	2021Nov 2021	2022Nov 2022	2023Nov 2023	2024Nov 2024	2025Nov 2025	LTMAug 2026
Cash and equivalents	0.9	0.7	0.5	0.3	1.4	0.6	0.4	1.0	0.5	9.5	8.9	4.0	2.4	1.2	1.9	1.2
Receivables	—	0.4	0.4	0.3	0.3	0.3	0.3	0.4	0.4	0.3	0.2	0.4	0.6	0.6	0.7	0.7
Inventory	—	0.3	0.3	0.3	0.3	0.3	0.4	0.5	0.4	0.3	0.4	0.4	0.5	0.5	0.5	0.5
Total current assets	—	1.7	1.5	1.5	2.5	1.7	1.6	2.2	2.1	10.6	10.1	7.5	5.3	3.4	4.2	3.4
Goodwill	—	3.3	3.5	3.1	3.0	2.9	3.0	2.9	2.9	0.8	0.6	0.6	0.6	0.6	0.6	0.6
Total assets	—	33.4	36.8	39.4	39.2	38.9	40.8	42.4	45.1	53.6	53.3	51.7	49.1	49.1	51.7	51.0
Accounts payable	—	0.5	0.6	0.6	0.6	0.7	0.8	0.7	0.8	0.6	0.8	1.1	1.2	1.1	1.2	1.2
Deferred revenue (current)	—	—	—	—	—	—	—	4.4	4.7	1.9	3.1	4.9	6.1	6.4	6.8	7.1
Total current liabilities	—	5.8	5.0	6.9	7.0	7.1	8.8	9.2	9.1	8.7	10.4	10.6	11.5	11.6	13.1	12.5
Short-term debt	—	1.1	0.8	1.1	1.3	0.6	1.7	1.6	1.6	1.7	1.9	2.4	2.1	1.5	2.6	2.0
Long-term debt	—	7.7	9.1	7.4	7.4	8.3	7.0	7.9	9.7	22.1	28.5	32.0	28.5	25.9	24.0	21.9
Total debt	0.0	9.1	10.9	9.1	8.8	9.9	9.7	11.2	11.7	30.0	36.0	35.8	31.3	28.2	27.4	24.6
Shareholders' equity	20.0	19.1	22.0	24.2	23.8	22.6	24.2	24.4	25.4	20.6	12.1	7.1	6.9	9.3	12.3	14.2
Net debt (negative = net cash)	−0.9	8.4	10.3	8.8	7.4	9.3	9.3	10.2	11.2	20.5	27.1	31.8	28.9	27.0	25.5	23.3

US$ billions unless shown otherwise. Fiscal quarters.

Carnival Corporation: balance sheet, quarterly
Quarter	2024 Q4Nov 2024	2025 Q1Feb 2025	2025 Q2May 2025	2025 Q3Aug 2025	2025 Q4Nov 2025	2026 Q1Feb 2026	2026 Q2May 2026	2026 Q3Aug 2026
Receivables	0.6	0.5	0.6	0.7	0.7	0.7	0.6	0.7
Inventory	0.5	0.5	0.5	0.5	0.5	0.5	0.6	0.5
Total current assets	3.4	3.0	4.3	3.9	4.2	3.7	4.5	3.4
Goodwill	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6
Total assets	49.1	48.5	51.2	50.8	51.7	51.6	52.2	51.0
Accounts payable	1.1	1.1	1.2	1.2	1.2	1.2	1.2	1.2
Deferred revenue (current)	6.4	6.9	8.1	6.7	6.8	7.5	8.5	7.1
Total current liabilities	11.6	11.6	12.9	11.4	13.1	12.4	13.4	12.5
Short-term debt	1.5	1.5	1.4	1.4	2.6	1.5	1.5	2.0
Long-term debt	25.9	25.5	25.9	25.1	24.0	23.8	23.4	21.9
Total debt	27.5	27.0	27.3	26.5	26.6	25.3	24.9	23.9
Shareholders' equity	9.3	9.2	10.0	11.9	12.3	13.0	13.0	14.2

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Carnival Corporation's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Carnival Corporation.