Carnival (CCL) FY2018 results: revenue $18.9 billion, up 7.8% on the year
Carnival Corp. Ltd. (CCL) reported revenue of $18.9 billion for fiscal 2018, the year ended 30 November 2018, up 7.8% on the year before. Net income was $3.2 billion, up 21.0%, and diluted earnings per share $4.44. The figures are the company's own, from the 10-K it filed with the SEC on 28 January 2019.
Revenue
$18.9 billion
+7.8% on the year
FY2007FY2018
Operating margin
17.6%
16.0% a year earlier
FY2007FY2018
Net income
$3.2 billion
+21.0% on the year
FY2007FY2018
Diluted EPS
$4.44
+23.7% on the year
FY2007FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
18,881
17,510
16,389
+7.8%
Cost of revenue
11,089
10,501
9,383
+5.6%
Gross profit
7,792
7,009
7,006
+11.2%
Gross margin
41.3%
40.0%
42.7%
Selling, general and administrative
2,450
2,265
2,197
+8.2%
Operating income
3,325
2,809
3,071
+18.4%
Operating margin
17.6%
16.0%
18.7%
Interest expense
194
198
223
-2.0%
Pre-tax income
3,207
2,666
2,828
+20.3%
Income tax
54.0
60.0
-49.0
-10.0%
Effective tax rate
1.7%
2.3%
-1.7%
Net income
3,152
2,606
2,779
+21.0%
Net margin
16.7%
14.9%
17.0%
Diluted EPS
$4.44
$3.59
$3.72
+23.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,549
5,322
5,134
+4.3%
Capital expenditure
3,749
2,944
3,062
+27.3%
Free cash flow
1,800
2,378
2,072
-24.3%
Free cash flow margin
9.5%
13.6%
12.6%
Cash from investing
-3,514
-3,122
-3,323
Cash from financing
-1,460
-2,452
-2,591
Depreciation and amortisation
2,017
1,846
1,738
+9.3%
Share-based compensation
65.0
63.0
55.0
+3.2%
Buybacks
1,468
552
2,340
+165.9%
Dividends paid
1,355
1,087
977
+24.7%
Dividend per share
$1.95
$1.60
$1.35
+21.9%
Diluted shares, weighted
710m
725m
747m
-2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
24,443
24,216
22,597
+0.9%
Debt
10,394
9,246
9,454
+12.4%
Other liabilities
7,564
7,316
6,885
+3.4%
Total liabilities and equity
42,401
40,778
38,936
+4.0%
Fixed assets
35,336
34,430
32,429
+2.6%
Goodwill
2,925
2,967
2,910
-1.4%
Intangible assets
1,176
1,200
1,275
-2.0%
Cash and equivalents
982
395
603
+148.6%
Receivables
358
312
298
+14.7%
Inventory
450
387
322
+16.3%
Other assets
1,174
1,087
1,099
+8.0%
Total assets
42,401
40,778
38,936
+4.0%
10-K for the year ended 30 November 2018, filed 28 January 2019: the filing.