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Side-by-side financial comparison of Carnival (CCL) and Dollar Tree (DLTR). Click either name above to swap in a different company.
Carnival is the larger business by last-quarter revenue ($6.3B vs $4.7B, roughly 1.3× Dollar Tree). Carnival runs the higher net margin — 6.6% vs 5.2%, a 1.5% gap on every dollar of revenue. On growth, Carnival posted the faster year-over-year revenue change (6.6% vs -37.2%). Carnival produced more free cash flow last quarter ($12.0M vs $-57.1M). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs -25.9%).
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.
Dollar Tree, Inc., formerly known as Dollar Tree Stores, Inc., is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers.
CCL vs DLTR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.3B | $4.7B |
| Net Profit | $421.0M | $244.6M |
| Gross Margin | — | 35.8% |
| Operating Margin | 11.6% | 7.2% |
| Net Margin | 6.6% | 5.2% |
| Revenue YoY | 6.6% | -37.2% |
| Net Profit YoY | 38.9% | 4.8% |
| EPS (diluted) | $0.33 | $1.20 |
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 | $6.3B | $4.7B | ||
| Q3 25 | $8.2B | $4.6B | ||
| Q2 25 | $6.3B | $4.6B | ||
| Q1 25 | $5.8B | $5.0B | ||
| Q4 24 | $5.9B | $7.6B | ||
| Q3 24 | $7.9B | $7.4B | ||
| Q2 24 | $5.8B | $7.6B | ||
| Q1 24 | $5.4B | $8.6B |
| Q4 25 | $421.0M | $244.6M | ||
| Q3 25 | $1.9B | $188.4M | ||
| Q2 25 | $565.0M | $343.4M | ||
| Q1 25 | $-78.0M | $-3.7B | ||
| Q4 24 | $303.0M | $233.3M | ||
| Q3 24 | $1.7B | $132.4M | ||
| Q2 24 | $92.0M | $300.1M | ||
| Q1 24 | $-214.0M | $-1.7B |
| Q4 25 | — | 35.8% | ||
| Q3 25 | 46.2% | 34.4% | ||
| Q2 25 | 38.6% | 35.6% | ||
| Q1 25 | 35.2% | 37.6% | ||
| Q4 24 | 35.5% | 30.9% | ||
| Q3 24 | 45.5% | 30.0% | ||
| Q2 24 | 34.3% | 30.8% | ||
| Q1 24 | 31.5% | 32.1% |
| Q4 25 | 11.6% | 7.2% | ||
| Q3 25 | 27.9% | 5.1% | ||
| Q2 25 | 14.8% | 8.3% | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 9.4% | 4.4% | ||
| Q3 24 | 27.6% | 2.8% | ||
| Q2 24 | 9.7% | 5.5% | ||
| Q1 24 | 5.1% | -21.9% |
| Q4 25 | 6.6% | 5.2% | ||
| Q3 25 | 22.7% | 4.1% | ||
| Q2 25 | 8.9% | 7.4% | ||
| Q1 25 | -1.3% | -74.0% | ||
| Q4 24 | 5.1% | 3.1% | ||
| Q3 24 | 22.0% | 1.8% | ||
| Q2 24 | 1.6% | 3.9% | ||
| Q1 24 | -4.0% | -19.8% |
| Q4 25 | $0.33 | $1.20 | ||
| Q3 25 | $1.33 | $0.91 | ||
| Q2 25 | $0.42 | $1.61 | ||
| Q1 25 | $-0.06 | $-17.17 | ||
| Q4 24 | $0.28 | $1.08 | ||
| Q3 24 | $1.26 | $0.62 | ||
| Q2 24 | $0.07 | $1.38 | ||
| Q1 24 | $-0.17 | $-7.78 |
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 | $594.8M |
| Total DebtLower is stronger | $27.4B | — |
| Stockholders' EquityBook value | $12.3B | $3.5B |
| Total Assets | $51.7B | $13.7B |
| Debt / EquityLower = less leverage | 2.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $594.8M | ||
| Q3 25 | $1.8B | $666.3M | ||
| Q2 25 | $2.1B | $1.0B | ||
| Q1 25 | $833.0M | $1.3B | ||
| Q4 24 | $1.2B | $697.6M | ||
| Q3 24 | $1.5B | $570.3M | ||
| Q2 24 | $1.6B | $618.5M | ||
| Q1 24 | $2.2B | $684.9M |
| Q4 25 | $27.4B | — | ||
| Q3 25 | $27.2B | — | ||
| Q2 25 | $28.0B | — | ||
| Q1 25 | $27.7B | $3.4B | ||
| Q4 24 | $28.2B | — | ||
| Q3 24 | $29.6B | — | ||
| Q2 24 | $30.2B | — | ||
| Q1 24 | $31.6B | $3.4B |
| Q4 25 | $12.3B | $3.5B | ||
| Q3 25 | $11.9B | $3.6B | ||
| Q2 25 | $10.0B | $3.9B | ||
| Q1 25 | $9.2B | $4.0B | ||
| Q4 24 | $9.3B | $7.6B | ||
| Q3 24 | $8.6B | $7.4B | ||
| Q2 24 | $6.8B | $7.3B | ||
| Q1 24 | $6.7B | $7.3B |
| Q4 25 | $51.7B | $13.7B | ||
| Q3 25 | $50.8B | $13.4B | ||
| Q2 25 | $51.2B | $18.3B | ||
| Q1 25 | $48.5B | $18.6B | ||
| Q4 24 | $49.1B | $23.3B | ||
| Q3 24 | $49.8B | $22.6B | ||
| Q2 24 | $49.6B | $22.1B | ||
| Q1 24 | $49.8B | $22.0B |
| Q4 25 | 2.23× | — | ||
| Q3 25 | 2.28× | — | ||
| Q2 25 | 2.79× | — | ||
| Q1 25 | 3.02× | 0.86× | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 3.45× | — | ||
| Q2 24 | 4.43× | — | ||
| Q1 24 | 4.72× | 0.47× |
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 | $319.3M |
| Free Cash FlowOCF − Capex | $12.0M | $-57.1M |
| FCF MarginFCF / Revenue | 0.2% | -1.2% |
| Capex IntensityCapex / Revenue | 23.8% | 7.9% |
| Cash ConversionOCF / Net Profit | 3.61× | 1.31× |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | $394.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $319.3M | ||
| Q3 25 | $1.4B | $260.7M | ||
| Q2 25 | $2.4B | $378.5M | ||
| Q1 25 | $925.0M | $405.1M | ||
| Q4 24 | $911.0M | $785.6M | ||
| Q3 24 | $1.2B | $306.9M | ||
| Q2 24 | $2.0B | $695.7M | ||
| Q1 24 | $1.8B | $1.3B |
| Q4 25 | $12.0M | $-57.1M | ||
| Q3 25 | $736.0M | $15.6M | ||
| Q2 25 | $1.5B | $129.7M | ||
| Q1 25 | $318.0M | $306.3M | ||
| Q4 24 | $319.0M | $359.2M | ||
| Q3 24 | $628.0M | $-193.8M | ||
| Q2 24 | $720.0M | $223.5M | ||
| Q1 24 | $-370.0M | $470.8M |
| Q4 25 | 0.2% | -1.2% | ||
| Q3 25 | 9.0% | 0.3% | ||
| Q2 25 | 24.4% | 2.8% | ||
| Q1 25 | 5.5% | 6.1% | ||
| Q4 24 | 5.4% | 4.8% | ||
| Q3 24 | 8.0% | -2.6% | ||
| Q2 24 | 12.5% | 2.9% | ||
| Q1 24 | -6.8% | 5.5% |
| Q4 25 | 23.8% | 7.9% | ||
| Q3 25 | 7.9% | 5.4% | ||
| Q2 25 | 13.4% | 5.4% | ||
| Q1 25 | 10.4% | 2.0% | ||
| Q4 24 | 10.0% | 5.6% | ||
| Q3 24 | 7.3% | 6.8% | ||
| Q2 24 | 22.8% | 6.2% | ||
| Q1 24 | 39.5% | 9.1% |
| Q4 25 | 3.61× | 1.31× | ||
| Q3 25 | 0.75× | 1.38× | ||
| Q2 25 | 4.23× | 1.10× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.01× | 3.37× | ||
| Q3 24 | 0.69× | 2.32× | ||
| Q2 24 | 22.16× | 2.32× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
DLTR
| Consumable | $2.4B | 50% |
| Variety | $2.1B | 43% |
| Seasonal | $344.1M | 7% |
