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Side-by-side financial comparison of American Express (AXP) and Carnival (CCL). Click either name above to swap in a different company.
American Express is the larger business by last-quarter revenue ($10.9B vs $6.3B, roughly 1.7× Carnival). American Express runs the higher net margin — 22.5% vs 6.6%, a 15.9% gap on every dollar of revenue. On growth, American Express posted the faster year-over-year revenue change (9.9% vs 6.6%). American Express produced more free cash flow last quarter ($2.3B vs $12.0M). Over the past eight quarters, American Express's revenue compounded faster (8.2% CAGR vs 8.2%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
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.
AXP vs CCL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.9B | $6.3B |
| Net Profit | $2.5B | $421.0M |
| Gross Margin | — | — |
| Operating Margin | 28.2% | 11.6% |
| Net Margin | 22.5% | 6.6% |
| Revenue YoY | 9.9% | 6.6% |
| Net Profit YoY | 13.5% | 38.9% |
| EPS (diluted) | $3.52 | $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 | $10.9B | $6.3B | ||
| Q3 25 | $10.4B | $8.2B | ||
| Q2 25 | $10.3B | $6.3B | ||
| Q1 25 | $9.6B | $5.8B | ||
| Q4 24 | $10.0B | $5.9B | ||
| Q3 24 | $9.7B | $7.9B | ||
| Q2 24 | $9.8B | $5.8B | ||
| Q1 24 | $9.3B | $5.4B |
| Q4 25 | $2.5B | $421.0M | ||
| Q3 25 | $2.9B | $1.9B | ||
| Q2 25 | $2.9B | $565.0M | ||
| Q1 25 | $2.6B | $-78.0M | ||
| Q4 24 | $2.2B | $303.0M | ||
| Q3 24 | $2.5B | $1.7B | ||
| Q2 24 | $3.0B | $92.0M | ||
| Q1 24 | $2.4B | $-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 | 28.2% | 11.6% | ||
| Q3 25 | 36.7% | 27.9% | ||
| Q2 25 | 34.4% | 14.8% | ||
| Q1 25 | 34.6% | 9.3% | ||
| Q4 24 | 27.7% | 9.4% | ||
| Q3 24 | 33.0% | 27.6% | ||
| Q2 24 | 38.6% | 9.7% | ||
| Q1 24 | 33.7% | 5.1% |
| Q4 25 | 22.5% | 6.6% | ||
| Q3 25 | 27.9% | 22.7% | ||
| Q2 25 | 28.0% | 8.9% | ||
| Q1 25 | 26.8% | -1.3% | ||
| Q4 24 | 21.8% | 5.1% | ||
| Q3 24 | 25.8% | 22.0% | ||
| Q2 24 | 30.7% | 1.6% | ||
| Q1 24 | 26.1% | -4.0% |
| Q4 25 | $3.52 | $0.33 | ||
| Q3 25 | $4.14 | $1.33 | ||
| Q2 25 | $4.08 | $0.42 | ||
| Q1 25 | $3.64 | $-0.06 | ||
| Q4 24 | $3.04 | $0.28 | ||
| Q3 24 | $3.49 | $1.26 | ||
| Q2 24 | $4.15 | $0.07 | ||
| Q1 24 | $3.33 | $-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 | $742.0M | $1.9B |
| Total DebtLower is stronger | $56.4B | $27.4B |
| Stockholders' EquityBook value | $33.5B | $12.3B |
| Total Assets | $300.1B | $51.7B |
| Debt / EquityLower = less leverage | 1.68× | 2.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.0M | $1.9B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $197.0M | $2.1B | ||
| Q1 25 | $261.0M | $833.0M | ||
| Q4 24 | $221.0M | $1.2B | ||
| Q3 24 | $120.0M | $1.5B | ||
| Q2 24 | $188.0M | $1.6B | ||
| Q1 24 | $69.0M | $2.2B |
| Q4 25 | $56.4B | $27.4B | ||
| Q3 25 | $57.8B | $27.2B | ||
| Q2 25 | $58.2B | $28.0B | ||
| Q1 25 | $51.2B | $27.7B | ||
| Q4 24 | $49.7B | $28.2B | ||
| Q3 24 | $53.5B | $29.6B | ||
| Q2 24 | $51.5B | $30.2B | ||
| Q1 24 | $48.8B | $31.6B |
| Q4 25 | $33.5B | $12.3B | ||
| Q3 25 | $32.4B | $11.9B | ||
| Q2 25 | $32.3B | $10.0B | ||
| Q1 25 | $31.2B | $9.2B | ||
| Q4 24 | $30.3B | $9.3B | ||
| Q3 24 | $29.7B | $8.6B | ||
| Q2 24 | $29.5B | $6.8B | ||
| Q1 24 | $28.8B | $6.7B |
| Q4 25 | $300.1B | $51.7B | ||
| Q3 25 | $297.6B | $50.8B | ||
| Q2 25 | $295.6B | $51.2B | ||
| Q1 25 | $282.2B | $48.5B | ||
| Q4 24 | $271.5B | $49.1B | ||
| Q3 24 | $271.0B | $49.8B | ||
| Q2 24 | $272.2B | $49.6B | ||
| Q1 24 | $269.3B | $49.8B |
| Q4 25 | 1.68× | 2.23× | ||
| Q3 25 | 1.78× | 2.28× | ||
| Q2 25 | 1.80× | 2.79× | ||
| Q1 25 | 1.64× | 3.02× | ||
| Q4 24 | 1.64× | 3.05× | ||
| Q3 24 | 1.80× | 3.45× | ||
| Q2 24 | 1.74× | 4.43× | ||
| Q1 24 | 1.70× | 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 | $3.1B | $1.5B |
| Free Cash FlowOCF − Capex | $2.3B | $12.0M |
| FCF MarginFCF / Revenue | 21.4% | 0.2% |
| Capex IntensityCapex / Revenue | 6.6% | 23.8% |
| Cash ConversionOCF / Net Profit | 1.25× | 3.61× |
| TTM Free Cash FlowTrailing 4 quarters | $16.0B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.1B | $1.5B | ||
| Q3 25 | $6.2B | $1.4B | ||
| Q2 25 | $4.4B | $2.4B | ||
| Q1 25 | $4.8B | $925.0M | ||
| Q4 24 | $5.8B | $911.0M | ||
| Q3 24 | $-1.8B | $1.2B | ||
| Q2 24 | $4.5B | $2.0B | ||
| Q1 24 | $5.6B | $1.8B |
| Q4 25 | $2.3B | $12.0M | ||
| Q3 25 | $5.6B | $736.0M | ||
| Q2 25 | $3.7B | $1.5B | ||
| Q1 25 | $4.3B | $318.0M | ||
| Q4 24 | $5.3B | $319.0M | ||
| Q3 24 | $-2.3B | $628.0M | ||
| Q2 24 | $4.0B | $720.0M | ||
| Q1 24 | $5.2B | $-370.0M |
| Q4 25 | 21.4% | 0.2% | ||
| Q3 25 | 53.6% | 9.0% | ||
| Q2 25 | 36.3% | 24.4% | ||
| Q1 25 | 45.0% | 5.5% | ||
| Q4 24 | 53.1% | 5.4% | ||
| Q3 24 | -23.3% | 8.0% | ||
| Q2 24 | 40.4% | 12.5% | ||
| Q1 24 | 55.2% | -6.8% |
| Q4 25 | 6.6% | 23.8% | ||
| Q3 25 | 6.3% | 7.9% | ||
| Q2 25 | 6.0% | 13.4% | ||
| Q1 25 | 4.5% | 10.4% | ||
| Q4 24 | 5.0% | 10.0% | ||
| Q3 24 | 4.7% | 7.3% | ||
| Q2 24 | 5.8% | 22.8% | ||
| Q1 24 | 4.2% | 39.5% |
| Q4 25 | 1.25× | 3.61× | ||
| Q3 25 | 2.15× | 0.75× | ||
| Q2 25 | 1.51× | 4.23× | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | 3.01× | ||
| Q3 24 | -0.72× | 0.69× | ||
| Q2 24 | 1.50× | 22.16× | ||
| Q1 24 | 2.28× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
| US Consumer Services Segment | $4.2B | 38% |
| Commercial Services Segment | $3.1B | 28% |
| International Card Services Segment | $2.1B | 19% |
| Global Merchant And Network Services Segment | $1.7B | 15% |
| Financial Service Other | $471.0M | 4% |
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
