Carnival (CCL) FY2017 results: revenue $17.5 billion, up 6.8% on the year
Carnival Corp. Ltd. (CCL) reported revenue of $17.5 billion for fiscal 2017, the year ended 30 November 2017, up 6.8% on the year before. Net income was $2.6 billion, down 6.2%, and diluted earnings per share $3.59. The figures are the company's own, from the 10-K it filed with the SEC on 29 January 2018.
Revenue
$17.5 billion
+6.8% on the year
FY2007FY2017
Operating margin
16.0%
18.7% a year earlier
FY2007FY2017
Net income
$2.6 billion
-6.2% on the year
FY2007FY2017
Diluted EPS
$3.59
-3.5% on the year
FY2007FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
17,510
16,389
15,714
+6.8%
Cost of revenue
10,501
9,383
9,447
+11.9%
Gross profit
7,009
7,006
6,267
+0.0%
Gross margin
40.0%
42.7%
39.9%
Selling, general and administrative
2,265
2,197
2,067
+3.1%
Operating income
2,809
3,071
2,574
-8.5%
Operating margin
16.0%
18.7%
16.4%
Interest expense
198
223
217
-11.2%
Pre-tax income
2,666
2,828
1,799
-5.7%
Income tax
60.0
-49.0
42.0
Effective tax rate
2.3%
-1.7%
2.3%
Net income
2,606
2,779
1,757
-6.2%
Net margin
14.9%
17.0%
11.2%
Diluted EPS
$3.59
$3.72
$2.26
-3.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,322
5,134
4,545
+3.7%
Capital expenditure
2,944
3,062
2,294
-3.9%
Free cash flow
2,378
2,072
2,251
+14.8%
Free cash flow margin
13.6%
12.6%
14.3%
Cash from investing
-3,122
-3,323
-2,478
Cash from financing
-2,452
-2,591
-942
Depreciation and amortisation
1,846
1,738
1,626
+6.2%
Share-based compensation
63.0
55.0
55.0
+14.5%
Buybacks
552
2,340
533
-76.4%
Dividends paid
1,087
977
816
+11.3%
Dividend per share
$1.60
$1.35
$1.10
+18.5%
Diluted shares, weighted
725m
747m
779m
-2.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
24,216
22,597
23,771
+7.2%
Debt
9,246
9,454
8,787
-2.2%
Other liabilities
7,316
6,885
6,679
+6.3%
Total liabilities and equity
40,778
38,936
39,237
+4.7%
Fixed assets
34,430
32,429
31,818
+6.2%
Goodwill
2,967
2,910
3,010
+2.0%
Intangible assets
1,200
1,275
1,308
-5.9%
Cash and equivalents
395
603
1,395
-34.5%
Receivables
312
298
303
+4.7%
Inventory
387
322
330
+20.2%
Other assets
1,087
1,099
1,073
-1.1%
Total assets
40,778
38,936
39,237
+4.7%
10-K for the year ended 30 November 2017, filed 29 January 2018: the filing.