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Side-by-side financial comparison of CROWN HOLDINGS, INC. (CCK) 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 $3.3B, roughly 1.9× CROWN HOLDINGS, INC.). Carnival runs the higher net margin — 6.6% vs 6.3%, a 0.3% gap on every dollar of revenue. On growth, CROWN HOLDINGS, INC. posted the faster year-over-year revenue change (12.9% vs 6.6%). Carnival produced more free cash flow last quarter ($12.0M vs $-129.0M). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs 3.5%).
Danish Crown is an internationally oriented Danish food company with butchery operations, processing and sales of primarily pork and beef. Through a number of subsidiaries, the group is widely represented within the food industry with various food products. The CEO is Niels Duedahl and the headquarters are located in Randers.
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.
CCK vs CCL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $6.3B |
| Net Profit | $206.0M | $421.0M |
| Gross Margin | — | — |
| Operating Margin | 11.2% | 11.6% |
| Net Margin | 6.3% | 6.6% |
| Revenue YoY | 12.9% | 6.6% |
| Net Profit YoY | -9.3% | 38.9% |
| EPS (diluted) | $1.56 | $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.
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.1B | $6.3B | ||
| Q3 25 | $3.2B | $8.2B | ||
| Q2 25 | $3.1B | $6.3B | ||
| Q1 25 | $2.9B | $5.8B | ||
| Q4 24 | $2.9B | $5.9B | ||
| Q3 24 | $3.1B | $7.9B | ||
| Q2 24 | $3.0B | $5.8B |
| Q1 26 | $206.0M | — | ||
| Q4 25 | $150.0M | $421.0M | ||
| Q3 25 | $214.0M | $1.9B | ||
| Q2 25 | $181.0M | $565.0M | ||
| Q1 25 | $193.0M | $-78.0M | ||
| Q4 24 | $358.0M | $303.0M | ||
| Q3 24 | $-175.0M | $1.7B | ||
| Q2 24 | $174.0M | $92.0M |
| Q1 26 | — | — | ||
| 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 26 | 11.2% | — | ||
| Q4 25 | 12.0% | 11.6% | ||
| Q3 25 | 13.2% | 27.9% | ||
| Q2 25 | 12.4% | 14.8% | ||
| Q1 25 | 12.6% | 9.3% | ||
| Q4 24 | 12.1% | 9.4% | ||
| Q3 24 | 14.4% | 27.6% | ||
| Q2 24 | 12.5% | 9.7% |
| Q1 26 | 6.3% | — | ||
| Q4 25 | 4.8% | 6.6% | ||
| Q3 25 | 6.7% | 22.7% | ||
| Q2 25 | 5.7% | 8.9% | ||
| Q1 25 | 6.7% | -1.3% | ||
| Q4 24 | 12.3% | 5.1% | ||
| Q3 24 | -5.7% | 22.0% | ||
| Q2 24 | 5.7% | 1.6% |
| Q1 26 | $1.56 | — | ||
| Q4 25 | $1.32 | $0.33 | ||
| Q3 25 | $1.85 | $1.33 | ||
| Q2 25 | $1.56 | $0.42 | ||
| Q1 25 | $1.65 | $-0.06 | ||
| Q4 24 | $3.01 | $0.28 | ||
| Q3 24 | $-1.47 | $1.26 | ||
| Q2 24 | $1.45 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $584.0M | $1.9B |
| Total DebtLower is stronger | $53.0M | $27.4B |
| Stockholders' EquityBook value | $3.4B | $12.3B |
| Total Assets | $14.3B | $51.7B |
| Debt / EquityLower = less leverage | 0.02× | 2.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $584.0M | — | ||
| Q4 25 | $764.0M | $1.9B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $936.0M | $2.1B | ||
| Q1 25 | $779.0M | $833.0M | ||
| Q4 24 | $918.0M | $1.2B | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.4B | $1.6B |
| Q1 26 | $53.0M | — | ||
| Q4 25 | $5.9B | $27.4B | ||
| Q3 25 | $6.2B | $27.2B | ||
| Q2 25 | $6.3B | $28.0B | ||
| Q1 25 | $6.2B | $27.7B | ||
| Q4 24 | $6.1B | $28.2B | ||
| Q3 24 | $7.4B | $29.6B | ||
| Q2 24 | $7.3B | $30.2B |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.0B | $12.3B | ||
| Q3 25 | $3.0B | $11.9B | ||
| Q2 25 | $2.9B | $10.0B | ||
| Q1 25 | $2.7B | $9.2B | ||
| Q4 24 | $2.8B | $9.3B | ||
| Q3 24 | $2.5B | $8.6B | ||
| Q2 24 | $2.5B | $6.8B |
| Q1 26 | $14.3B | — | ||
| Q4 25 | $14.3B | $51.7B | ||
| Q3 25 | $14.6B | $50.8B | ||
| Q2 25 | $14.5B | $51.2B | ||
| Q1 25 | $13.8B | $48.5B | ||
| Q4 24 | $13.8B | $49.1B | ||
| Q3 24 | $15.1B | $49.8B | ||
| Q2 24 | $14.9B | $49.6B |
| Q1 26 | 0.02× | — | ||
| Q4 25 | 1.96× | 2.23× | ||
| Q3 25 | 2.07× | 2.28× | ||
| Q2 25 | 2.18× | 2.79× | ||
| Q1 25 | 2.31× | 3.02× | ||
| Q4 24 | 2.23× | 3.05× | ||
| Q3 24 | 2.93× | 3.45× | ||
| Q2 24 | 2.92× | 4.43× |
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 | — | $1.5B |
| Free Cash FlowOCF − Capex | $-129.0M | $12.0M |
| FCF MarginFCF / Revenue | -4.0% | 0.2% |
| Capex IntensityCapex / Revenue | 2.7% | 23.8% |
| Cash ConversionOCF / Net Profit | — | 3.61× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $487.0M | $1.5B | ||
| Q3 25 | $580.0M | $1.4B | ||
| Q2 25 | $449.0M | $2.4B | ||
| Q1 25 | $14.0M | $925.0M | ||
| Q4 24 | $295.0M | $911.0M | ||
| Q3 24 | $554.0M | $1.2B | ||
| Q2 24 | $445.0M | $2.0B |
| Q1 26 | $-129.0M | — | ||
| Q4 25 | $255.0M | $12.0M | ||
| Q3 25 | $488.0M | $736.0M | ||
| Q2 25 | $393.0M | $1.5B | ||
| Q1 25 | $-19.0M | $318.0M | ||
| Q4 24 | $146.0M | $319.0M | ||
| Q3 24 | $478.0M | $628.0M | ||
| Q2 24 | $361.0M | $720.0M |
| Q1 26 | -4.0% | — | ||
| Q4 25 | 8.2% | 0.2% | ||
| Q3 25 | 15.2% | 9.0% | ||
| Q2 25 | 12.5% | 24.4% | ||
| Q1 25 | -0.7% | 5.5% | ||
| Q4 24 | 5.0% | 5.4% | ||
| Q3 24 | 15.5% | 8.0% | ||
| Q2 24 | 11.9% | 12.5% |
| Q1 26 | 2.7% | — | ||
| Q4 25 | 7.4% | 23.8% | ||
| Q3 25 | 2.9% | 7.9% | ||
| Q2 25 | 1.8% | 13.4% | ||
| Q1 25 | 1.1% | 10.4% | ||
| Q4 24 | 5.1% | 10.0% | ||
| Q3 24 | 2.5% | 7.3% | ||
| Q2 24 | 2.8% | 22.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.25× | 3.61× | ||
| Q3 25 | 2.71× | 0.75× | ||
| Q2 25 | 2.48× | 4.23× | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.82× | 3.01× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | 2.56× | 22.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCK
| Americas Beverage | $1.5B | 47% |
| European Beverage | $588.0M | 18% |
| Transit Packaging | $496.0M | 15% |
| Other | $342.0M | 10% |
| Asia Pacific | $303.0M | 9% |
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
