Carnival (CCL) FY2016 results: revenue $16.4 billion, up 4.3% on the year
Carnival Corp. Ltd. (CCL) reported revenue of $16.4 billion for fiscal 2016, the year ended 30 November 2016, up 4.3% on the year before. Net income was $2.8 billion, up 58.2%, and diluted earnings per share $3.72. The figures are the company's own, from the 10-K it filed with the SEC on 30 January 2017.
Revenue
$16.4 billion
+4.3% on the year
FY2007FY2016
Operating margin
18.7%
16.4% a year earlier
FY2007FY2016
Net income
$2.8 billion
+58.2% on the year
FY2007FY2016
Diluted EPS
$3.72
+64.6% on the year
FY2007FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
16,389
15,714
15,884
+4.3%
Cost of revenue
9,383
9,447
10,403
-0.7%
Gross profit
7,006
6,267
5,481
+11.8%
Gross margin
42.7%
39.9%
34.5%
Selling, general and administrative
2,197
2,067
2,054
+6.3%
Operating income
3,071
2,574
1,772
+19.3%
Operating margin
18.7%
16.4%
11.2%
Interest expense
223
217
288
+2.8%
Pre-tax income
2,828
1,799
1,225
+57.2%
Income tax
-49.0
42.0
9.0
Effective tax rate
-1.7%
2.3%
0.7%
Net income
2,779
1,757
1,216
+58.2%
Net margin
17.0%
11.2%
7.7%
Diluted EPS
$3.72
$2.26
$1.56
+64.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
5,134
4,545
3,430
+13.0%
Capital expenditure
3,062
2,294
2,583
+33.5%
Free cash flow
2,072
2,251
847
-8.0%
Free cash flow margin
12.6%
14.3%
5.3%
Cash from investing
-3,323
-2,478
-2,507
Cash from financing
-2,591
-942
-1,028
Depreciation and amortisation
1,738
1,626
1,635
+6.9%
Share-based compensation
55.0
55.0
52.0
0.0%
Buybacks
2,340
533
0.0
+339.0%
Dividends paid
977
816
776
+19.7%
Dividend per share
$1.35
$1.10
$1.00
+22.7%
Diluted shares, weighted
747m
779m
778m
-4.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
22,597
23,771
24,204
-4.9%
Debt
9,454
8,787
9,088
+7.6%
Other liabilities
6,885
6,679
6,156
+3.1%
Total liabilities and equity
38,936
39,237
39,448
-0.8%
Fixed assets
32,429
31,818
32,773
+1.9%
Goodwill
2,910
3,010
3,127
-3.3%
Intangible assets
1,275
1,308
1,270
-2.5%
Cash and equivalents
603
1,395
331
-56.8%
Receivables
298
303
332
-1.7%
Inventory
322
330
349
-2.4%
Other assets
1,099
1,073
1,266
+2.4%
Total assets
38,936
39,237
39,448
-0.8%
10-K for the year ended 30 November 2016, filed 30 January 2017: the filing.