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Side-by-side financial comparison of ALLIANCE ENTERTAINMENT HOLDING CORP (AENT) and Carnival (CCL). Click either name above to swap in a different company.
Carnival is the larger business by last-quarter revenue ($6.3B vs $368.7M, roughly 17.2× ALLIANCE ENTERTAINMENT HOLDING CORP). Carnival runs the higher net margin — 6.6% vs 2.5%, a 4.1% gap on every dollar of revenue. On growth, Carnival posted the faster year-over-year revenue change (6.6% vs -6.3%). Carnival produced more free cash flow last quarter ($12.0M vs $-16.9M). Over the past eight quarters, ALLIANCE ENTERTAINMENT HOLDING CORP's revenue compounded faster (32.1% CAGR vs 8.2%).
Alliance Atlantis Communications Inc. was a media company that operated primarily as a specialty service provider in Canada. Primarily based in Toronto, Alliance Atlantis also had offices in Halifax, Los Angeles, London, Dublin, Madrid, Barcelona, Shannon, and Sydney.
CarnivalCCLEarnings & Financial Report
Carnival is the world's largest leisure travel group specializing in cruise operations. It owns multiple globally recognized cruise brands, serving millions of passengers yearly, offering all-inclusive vacation experiences covering accommodation, catering, entertainment, and shore excursions across global popular destinations.
AENT vs CCL — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $368.7M | $6.3B |
| Net Profit | $9.4M | $421.0M |
| Gross Margin | — | — |
| Operating Margin | 4.7% | 11.6% |
| Net Margin | 2.5% | 6.6% |
| Revenue YoY | -6.3% | 6.6% |
| Net Profit YoY | 32.8% | 38.9% |
| EPS (diluted) | $0.18 | $0.33 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $368.7M | $6.3B | ||
| Q3 25 | $254.0M | $8.2B | ||
| Q2 25 | $227.8M | $6.3B | ||
| Q1 25 | $213.0M | $5.8B | ||
| Q4 24 | $393.7M | $5.9B | ||
| Q3 24 | $229.0M | $7.9B | ||
| Q2 24 | $236.9M | $5.8B | ||
| Q1 24 | $211.2M | $5.4B |
| Q4 25 | $9.4M | $421.0M | ||
| Q3 25 | $4.9M | $1.9B | ||
| Q2 25 | $5.8M | $565.0M | ||
| Q1 25 | $1.9M | $-78.0M | ||
| Q4 24 | $7.1M | $303.0M | ||
| Q3 24 | $397.0K | $1.7B | ||
| Q2 24 | $2.5M | $92.0M | ||
| Q1 24 | $-3.4M | $-214.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 46.2% | ||
| Q2 25 | — | 38.6% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 45.5% | ||
| Q2 24 | — | 34.3% | ||
| Q1 24 | — | 31.5% |
| Q4 25 | 4.7% | 11.6% | ||
| Q3 25 | 4.2% | 27.9% | ||
| Q2 25 | 4.3% | 14.8% | ||
| Q1 25 | 1.7% | 9.3% | ||
| Q4 24 | 3.8% | 9.4% | ||
| Q3 24 | 0.9% | 27.6% | ||
| Q2 24 | 0.2% | 9.7% | ||
| Q1 24 | -0.3% | 5.1% |
| Q4 25 | 2.5% | 6.6% | ||
| Q3 25 | 1.9% | 22.7% | ||
| Q2 25 | 2.5% | 8.9% | ||
| Q1 25 | 0.9% | -1.3% | ||
| Q4 24 | 1.8% | 5.1% | ||
| Q3 24 | 0.2% | 22.0% | ||
| Q2 24 | 1.1% | 1.6% | ||
| Q1 24 | -1.6% | -4.0% |
| Q4 25 | $0.18 | $0.33 | ||
| Q3 25 | $0.10 | $1.33 | ||
| Q2 25 | $0.11 | $0.42 | ||
| Q1 25 | $0.04 | $-0.06 | ||
| Q4 24 | $0.14 | $0.28 | ||
| Q3 24 | $0.01 | $1.26 | ||
| Q2 24 | $0.05 | $0.07 | ||
| Q1 24 | $-0.07 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.9B |
| Total DebtLower is stronger | — | $27.4B |
| Stockholders' EquityBook value | $117.6M | $12.3B |
| Total Assets | $434.1M | $51.7B |
| Debt / EquityLower = less leverage | — | 2.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $833.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $4.3M | $1.5B | ||
| Q2 24 | $1.1M | $1.6B | ||
| Q1 24 | $1.6M | $2.2B |
| Q4 25 | — | $27.4B | ||
| Q3 25 | — | $27.2B | ||
| Q2 25 | — | $28.0B | ||
| Q1 25 | — | $27.7B | ||
| Q4 24 | — | $28.2B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | — | $30.2B | ||
| Q1 24 | — | $31.6B |
| Q4 25 | $117.6M | $12.3B | ||
| Q3 25 | $108.1M | $11.9B | ||
| Q2 25 | $103.2M | $10.0B | ||
| Q1 25 | $97.4M | $9.2B | ||
| Q4 24 | $95.6M | $9.3B | ||
| Q3 24 | $88.0M | $8.6B | ||
| Q2 24 | $87.6M | $6.8B | ||
| Q1 24 | $85.1M | $6.7B |
| Q4 25 | $434.1M | $51.7B | ||
| Q3 25 | $383.0M | $50.8B | ||
| Q2 25 | $361.2M | $51.2B | ||
| Q1 25 | $349.4M | $48.5B | ||
| Q4 24 | $401.7M | $49.1B | ||
| Q3 24 | $395.7M | $49.8B | ||
| Q2 24 | $340.8M | $49.6B | ||
| Q1 24 | $324.0M | $49.8B |
| Q4 25 | — | 2.23× | ||
| Q3 25 | — | 2.28× | ||
| Q2 25 | — | 2.79× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | — | 3.05× | ||
| Q3 24 | — | 3.45× | ||
| Q2 24 | — | 4.43× | ||
| Q1 24 | — | 4.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-16.5M | $1.5B |
| Free Cash FlowOCF − Capex | $-16.9M | $12.0M |
| FCF MarginFCF / Revenue | -4.6% | 0.2% |
| Capex IntensityCapex / Revenue | 0.1% | 23.8% |
| Cash ConversionOCF / Net Profit | -1.76× | 3.61× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4M | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.5M | $1.5B | ||
| Q3 25 | $2.7M | $1.4B | ||
| Q2 25 | $10.7M | $2.4B | ||
| Q1 25 | $2.5M | $925.0M | ||
| Q4 24 | $25.3M | $911.0M | ||
| Q3 24 | $-11.6M | $1.2B | ||
| Q2 24 | $9.7M | $2.0B | ||
| Q1 24 | $20.0M | $1.8B |
| Q4 25 | $-16.9M | $12.0M | ||
| Q3 25 | $2.4M | $736.0M | ||
| Q2 25 | $10.7M | $1.5B | ||
| Q1 25 | $2.4M | $318.0M | ||
| Q4 24 | — | $319.0M | ||
| Q3 24 | $-11.6M | $628.0M | ||
| Q2 24 | — | $720.0M | ||
| Q1 24 | $20.0M | $-370.0M |
| Q4 25 | -4.6% | 0.2% | ||
| Q3 25 | 0.9% | 9.0% | ||
| Q2 25 | 4.7% | 24.4% | ||
| Q1 25 | 1.1% | 5.5% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | -5.1% | 8.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | 9.4% | -6.8% |
| Q4 25 | 0.1% | 23.8% | ||
| Q3 25 | 0.1% | 7.9% | ||
| Q2 25 | 0.0% | 13.4% | ||
| Q1 25 | 0.0% | 10.4% | ||
| Q4 24 | 0.0% | 10.0% | ||
| Q3 24 | 0.0% | 7.3% | ||
| Q2 24 | — | 22.8% | ||
| Q1 24 | 0.0% | 39.5% |
| Q4 25 | -1.76× | 3.61× | ||
| Q3 25 | 0.56× | 0.75× | ||
| Q2 25 | 1.86× | 4.23× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 3.57× | 3.01× | ||
| Q3 24 | -29.31× | 0.69× | ||
| Q2 24 | 3.85× | 22.16× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AENT
Segment breakdown not available.
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
