Carnival (CCL) FY2020 results: revenue $5.6 billion, down 73.1% on the year
Carnival Corp. Ltd. (CCL) reported revenue of $5.6 billion for fiscal 2020, the year ended 30 November 2020, down 73.1% on the year before. Net income was -$10.2 billion, and diluted earnings per share $-13.20. The figures are the company's own, from the 10-K it filed with the SEC on 26 January 2021.
Revenue
$5.6 billion
-73.1% on the year
FY2009FY2020
Operating margin
-158.4%
15.7% a year earlier
FY2009FY2020
Net income
-$10.2 billion
FY2009FY2020
Diluted EPS
-$13.20
FY2009FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,595
20,825
18,881
-73.1%
Cost of revenue
n/a
12,909
11,089
Gross profit
n/a
7,916
7,792
Gross margin
n/a
38.0%
41.3%
Selling, general and administrative
1,878
2,480
2,450
-24.3%
Operating income
-8,865
3,276
3,325
Operating margin
-158.4%
15.7%
17.6%
Interest expense
895
206
194
+334.5%
Pre-tax income
-10,253
3,060
3,207
Income tax
-17.0
71.0
54.0
Effective tax rate
n/a
2.3%
1.7%
Net income
-10,236
2,990
3,152
Net margin
-182.9%
14.4%
16.7%
Diluted EPS
-$13.20
$4.32
$4.44
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-6,301
5,475
5,549
Capital expenditure
3,620
5,429
3,749
-33.3%
Free cash flow
-9,921
46.0
1,800
Free cash flow margin
-177.3%
0.2%
9.5%
Cash from investing
-3,240
-5,277
-3,514
Cash from financing
18,650
-655
-1,460
Depreciation and amortisation
2,241
2,160
2,017
+3.8%
Share-based compensation
105
46.0
65.0
+128.3%
Buybacks
12.0
603
1,468
-98.0%
Dividends paid
689
1,387
1,355
-50.3%
Dividend per share
n/a
n/a
$1.95
Diluted shares, weighted
775m
692m
710m
+12.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
20,555
25,365
24,443
-19.0%
Debt
27,581
11,634
10,394
+137.1%
Operating lease liabilities
1,273
n/a
n/a
Other liabilities
4,184
8,059
7,564
-48.1%
Total liabilities and equity
53,593
45,058
42,401
+18.9%
Fixed assets
38,073
38,131
35,336
-0.2%
Goodwill
807
2,912
2,925
-72.3%
Intangible assets
1,186
1,174
1,176
+1.0%
Investments
0.0
n/a
n/a
Cash and equivalents
9,513
518
982
+1,736.5%
Receivables
273
444
358
-38.5%
Inventory
335
427
450
-21.5%
Other assets
3,406
1,452
1,174
+134.6%
Total assets
53,593
45,058
42,401
+18.9%
10-K for the year ended 30 November 2020, filed 26 January 2021: the filing.