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Side-by-side financial comparison of Carnival (CCL) and LPL Financial Holdings Inc. (LPLA). Click either name above to swap in a different company.
Carnival is the larger business by last-quarter revenue ($6.3B vs $4.9B, roughly 1.3× LPL Financial Holdings Inc.). LPL Financial Holdings Inc. runs the higher net margin — 7.2% vs 6.6%, a 0.6% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs 6.6%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (29.8% CAGR vs 8.2%).
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.
LPL Financial Holdings Inc. was founded in 1989 and is considered the largest independent broker-dealer in the United States. As of 2021 the company had more than 17,500 financial advisors, over US$1 trillion in advisory and brokerage assets, and generated approximately $10.3 billion in annual revenue for the 2023 fiscal year. LPL Financial has main offices in Boston, Fort Mill, Austin, and San Diego. The company is a member of FINRA and the SIPC.
CCL vs LPLA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.3B | $4.9B |
| Net Profit | $421.0M | $356.4M |
| Gross Margin | — | 32.3% |
| Operating Margin | 11.6% | — |
| Net Margin | 6.6% | 7.2% |
| Revenue YoY | 6.6% | 34.6% |
| Net Profit YoY | 38.9% | — |
| EPS (diluted) | $0.33 | $4.43 |
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 | — | $4.9B | ||
| Q4 25 | $6.3B | $4.9B | ||
| Q3 25 | $8.2B | $4.6B | ||
| Q2 25 | $6.3B | $3.8B | ||
| Q1 25 | $5.8B | $3.7B | ||
| Q4 24 | $5.9B | $3.5B | ||
| Q3 24 | $7.9B | $3.1B | ||
| Q2 24 | $5.8B | $2.9B |
| Q1 26 | — | $356.4M | ||
| Q4 25 | $421.0M | $300.7M | ||
| Q3 25 | $1.9B | $-29.5M | ||
| Q2 25 | $565.0M | $273.2M | ||
| Q1 25 | $-78.0M | $318.6M | ||
| Q4 24 | $303.0M | $270.7M | ||
| Q3 24 | $1.7B | $255.3M | ||
| Q2 24 | $92.0M | $243.8M |
| Q1 26 | — | 32.3% | ||
| 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 | — | — | ||
| Q4 25 | 11.6% | 8.1% | ||
| Q3 25 | 27.9% | -0.7% | ||
| Q2 25 | 14.8% | 9.6% | ||
| Q1 25 | 9.3% | 11.4% | ||
| Q4 24 | 9.4% | 9.7% | ||
| Q3 24 | 27.6% | 11.2% | ||
| Q2 24 | 9.7% | 11.3% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 6.6% | 6.1% | ||
| Q3 25 | 22.7% | -0.6% | ||
| Q2 25 | 8.9% | 7.1% | ||
| Q1 25 | -1.3% | 8.7% | ||
| Q4 24 | 5.1% | 7.7% | ||
| Q3 24 | 22.0% | 8.2% | ||
| Q2 24 | 1.6% | 8.3% |
| Q1 26 | — | $4.43 | ||
| Q4 25 | $0.33 | $3.65 | ||
| Q3 25 | $1.33 | $-0.37 | ||
| Q2 25 | $0.42 | $3.40 | ||
| Q1 25 | $-0.06 | $4.24 | ||
| Q4 24 | $0.28 | $3.58 | ||
| Q3 24 | $1.26 | $3.39 | ||
| Q2 24 | $0.07 | $3.23 |
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 | $1.0B |
| Total DebtLower is stronger | $27.4B | — |
| Stockholders' EquityBook value | $12.3B | $5.7B |
| Total Assets | $51.7B | $18.8B |
| Debt / EquityLower = less leverage | 2.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $2.1B | $4.3B | ||
| Q1 25 | $833.0M | $1.4B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.5B | $1.6B | ||
| Q2 24 | $1.6B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $27.4B | $7.3B | ||
| Q3 25 | $27.2B | $7.5B | ||
| Q2 25 | $28.0B | $7.2B | ||
| Q1 25 | $27.7B | $5.7B | ||
| Q4 24 | $28.2B | $5.5B | ||
| Q3 24 | $29.6B | $4.4B | ||
| Q2 24 | $30.2B | $4.4B |
| Q1 26 | — | $5.7B | ||
| Q4 25 | $12.3B | $5.3B | ||
| Q3 25 | $11.9B | $5.0B | ||
| Q2 25 | $10.0B | $5.1B | ||
| Q1 25 | $9.2B | $3.1B | ||
| Q4 24 | $9.3B | $2.9B | ||
| Q3 24 | $8.6B | $2.8B | ||
| Q2 24 | $6.8B | $2.5B |
| Q1 26 | — | $18.8B | ||
| Q4 25 | $51.7B | $18.5B | ||
| Q3 25 | $50.8B | $18.0B | ||
| Q2 25 | $51.2B | $17.5B | ||
| Q1 25 | $48.5B | $14.0B | ||
| Q4 24 | $49.1B | $13.3B | ||
| Q3 24 | $49.8B | $11.9B | ||
| Q2 24 | $49.6B | $11.5B |
| Q1 26 | — | — | ||
| Q4 25 | 2.23× | 1.36× | ||
| Q3 25 | 2.28× | 1.49× | ||
| Q2 25 | 2.79× | 1.41× | ||
| Q1 25 | 3.02× | 1.82× | ||
| Q4 24 | 3.05× | 1.87× | ||
| Q3 24 | 3.45× | 1.60× | ||
| Q2 24 | 4.43× | 1.77× |
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 | $12.0M | — |
| FCF MarginFCF / Revenue | 0.2% | — |
| Capex IntensityCapex / Revenue | 23.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 3.61× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $785.0M | ||
| Q3 25 | $1.4B | $-1.7B | ||
| Q2 25 | $2.4B | $193.3M | ||
| Q1 25 | $925.0M | $339.8M | ||
| Q4 24 | $911.0M | $-178.8M | ||
| Q3 24 | $1.2B | $209.3M | ||
| Q2 24 | $2.0B | $-178.9M |
| Q1 26 | — | — | ||
| Q4 25 | $12.0M | $613.3M | ||
| Q3 25 | $736.0M | $-1.9B | ||
| Q2 25 | $1.5B | $56.3M | ||
| Q1 25 | $318.0M | $220.3M | ||
| Q4 24 | $319.0M | $-344.3M | ||
| Q3 24 | $628.0M | $62.3M | ||
| Q2 24 | $720.0M | $-307.8M |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 12.4% | ||
| Q3 25 | 9.0% | -41.1% | ||
| Q2 25 | 24.4% | 1.5% | ||
| Q1 25 | 5.5% | 6.0% | ||
| Q4 24 | 5.4% | -9.8% | ||
| Q3 24 | 8.0% | 2.0% | ||
| Q2 24 | 12.5% | -10.5% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 23.8% | 3.5% | ||
| Q3 25 | 7.9% | 3.1% | ||
| Q2 25 | 13.4% | 3.6% | ||
| Q1 25 | 10.4% | 3.3% | ||
| Q4 24 | 10.0% | 4.7% | ||
| Q3 24 | 7.3% | 4.7% | ||
| Q2 24 | 22.8% | 4.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.61× | 2.61× | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 4.23× | 0.71× | ||
| Q1 25 | — | 1.07× | ||
| Q4 24 | 3.01× | -0.66× | ||
| Q3 24 | 0.69× | 0.82× | ||
| Q2 24 | 22.16× | -0.73× |
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% |
LPLA
| Advisory | $2.6B | 53% |
| Sales-based | $705.4M | 14% |
| Trailing | $486.6M | 10% |
| Client cash | $445.3M | 9% |
| Other | $394.5M | 8% |
| Service and fee | $211.0M | 4% |
| Transaction | $80.5M | 2% |
