Carnival Corporation
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Carnival Corporation (CCL). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| North America Segment | – | – | – | $14.59B 67.6% | $16.80B 67.1% · +15.2% | $17.60B 66.1% · +4.8% |
| Europe Segment | – | $712.0M 37.3% | $3.53B 29.0% · +395.9% | $6.54B 30.3% · +85.1% | $7.71B 30.8% · +18.0% | $8.47B 31.8% · +9.8% |
| Cruise Support | $68.0M 1.2% | $42.0M 2.2% · -38.2% | $171.0M 1.4% · +307.1% | $206.0M 1.0% · +20.5% | $255.0M 1.0% · +23.8% | $309.0M 1.2% · +21.2% |
| Tour And Other [Member] | $110.0M 2.0% | $46.0M 2.4% · -58.2% | $185.0M 1.5% · +302.2% | $265.0M 1.2% · +43.2% | $255.0M 1.0% · -3.8% | $241.0M 0.9% · -5.5% |
| NAA Segment | $3.63B 64.8% | – | – | – | – | – |
| EA Segment | $1.79B 32.0% | – | – | – | – | – |
| North America And Australia | – | $1.11B 58.1% | $8.28B 68.1% · +647.4% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| North America Segment | – | – | – | – | – | – |
| Europe Segment | – | -$2.62B -367.6% | -$1.83B -51.8% | – | – | – |
| Cruise Support | -$313.0M -460.3% | -$477.0M -1,135.7% | -$315.0M -184.2% | – | – | – |
| Tour And Other [Member] | -$29.0M -26.4% | -$67.0M -145.7% | -$64.0M -34.6% | – | – | – |
| NAA Segment | -$5.79B -159.7% | – | – | – | – | – |
| EA Segment | -$2.73B -152.5% | – | – | – | – | – |
| North America And Australia | – | -$3.93B -354.5% | -$2.17B -26.2% | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| United States | – | – | – | $12.25B 56.7% | $14.06B 56.2% · +14.8% | $14.85B 55.8% · +5.6% |
| Other | $180.0M 3.2% | $31.0M 1.6% · -82.8% | $132.0M 1.1% · +325.8% | $4.41B 20.4% · +3,237.9% | $5.16B 20.6% · +17.0% | $5.37B 20.2% · +4.2% |
| Germany | – | – | – | $2.65B 12.3% | $3.06B 12.2% · +15.5% | $3.35B 12.6% · +9.3% |
| UK Plan | – | – | – | $2.28B 10.6% | $2.74B 11.0% · +20.0% | $3.05B 11.5% · +11.5% |
| North America | $3.08B 55.1% | $1.07B 55.9% · -65.4% | $7.87B 64.6% · +637.9% | – | – | – |
| Europe | $1.64B 29.4% | $811.0M 42.5% · -50.6% | $3.92B 32.2% · +383.1% | – | – | – |
| Australia and Asia | $687.0M 12.3% | – | – | – | – | – |
| Australia | – | $0 0.0% | $252.0M 2.1% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cruise passenger ticket | $3.68B 65.9% | $1.00B 52.4% · -72.9% | $7.02B 57.7% · +602.2% | $14.07B 65.1% · +100.3% | $16.46B 65.8% · +17.0% | $17.42B 65.4% · +5.8% |
| Cruise onboard and other | $1.91B 34.1% | $908.0M 47.6% · -52.5% | $5.15B 42.3% · +466.9% | $7.53B 34.9% · +46.2% | $8.56B 34.2% · +13.7% | $9.20B 34.6% · +7.5% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.