How do Carnival and Marriott International compare by revenue?

Carnival reported revenue of $6.3B in Q4 2025, while Marriott International reported $6.7B in Q4 2025. Marriott International is 1.1× larger by last-quarter revenue.

Which is growing revenue faster, Carnival or Marriott International?

Carnival's latest revenue grew 6.6% year-over-year, versus 4.1% for Marriott International. Carnival is growing faster on a YoY basis.

Which has a higher net margin, Carnival or Marriott International?

Carnival's net margin is 6.6% vs Marriott International's 6.7%. Marriott International has the higher bottom-line margin.

What is the 2-year revenue CAGR for Carnival vs Marriott International?

Over the trailing 8 quarters, Carnival compounded revenue at roughly 8.2% per year, versus 5.8% for Marriott International. Carnival has the faster medium-term growth trajectory.

Where does this CCL vs MAR data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Carnival (CCL) and Marriott International (MAR), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.

Marriott International is the larger business by last-quarter revenue ($6.7B vs $6.3B, roughly 1.1× Carnival). Marriott International runs the higher net margin — 6.6% vs 6.7%, a 0.0% gap on every dollar of revenue. On growth, Carnival posted the faster year-over-year revenue change (6.6% vs 4.1%). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs 5.8%).

CarnivalCCLEarnings & Financial Report

NYSE · Consumer Discretionary · Hotels, Resorts & Cruise Lines

Carnival is a festive season that occurs at the close of the Christian pre-Lenten period, consisting of Quinquagesima or Shrove Sunday, Shrove Monday, and Shrove Tuesday or Mardi Gras.

Marriott InternationalMAREarnings & Financial Report

Nasdaq · Consumer Discretionary · Hotels, Resorts & Cruise Lines

Marriott International, Inc. is an American multinational company that operates, franchises, and licenses lodging brands that include hotel, residential, and timeshare properties. Marriott International owns over 37 hotel and timeshare brands with 9,000 locations and 1,597,380 rooms across its network. Marriott International is headquartered in Bethesda, Maryland. The company is the successor to the hospitality division of the Marriott Corporation, founded by J.

CCL vs MAR — Head-to-Head

Bigger by revenue

MAR

1.1× larger

$6.7B

$6.3B

Growing faster (revenue YoY)

CCL

+2.6% gap

6.6%

4.1%

Higher net margin

MAR

0.0% more per $

6.7%

6.6%

Faster 2-yr revenue CAGR

CCL

Annualised

8.2%

5.8%

Income Statement — Q4 2025 vs Q4 2025

Metric	CCL	MAR
Revenue	$6.3B	$6.7B
Net Profit	$421.0M	$445.0M
Gross Margin	—	—
Operating Margin	11.6%	11.6%
Net Margin	6.6%	6.7%
Revenue YoY	6.6%	4.1%
Net Profit YoY	38.9%	-2.2%
EPS (diluted)	$0.33	$1.67

Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.

Revenue

CCL

MAR

Q4 25	$6.3B	$6.7B
Q3 25	$8.2B	$6.5B
Q2 25	$6.3B	$6.7B
Q1 25	$5.8B	$6.3B
Q4 24	$5.9B	$6.4B
Q3 24	$7.9B	$6.3B
Q2 24	$5.8B	$6.4B
Q1 24	$5.4B	$6.0B

Net Profit

CCL

MAR

Q4 25	$421.0M	$445.0M
Q3 25	$1.9B	$728.0M
Q2 25	$565.0M	$763.0M
Q1 25	$-78.0M	$665.0M
Q4 24	$303.0M	$455.0M
Q3 24	$1.7B	$584.0M
Q2 24	$92.0M	$772.0M
Q1 24	$-214.0M	$564.0M

Gross Margin

CCL

MAR

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%	—

Operating Margin

CCL

MAR

Q4 25	11.6%	11.6%
Q3 25	27.9%	18.2%
Q2 25	14.8%	18.3%
Q1 25	9.3%	15.1%
Q4 24	9.4%	11.7%
Q3 24	27.6%	15.1%
Q2 24	9.7%	18.6%
Q1 24	5.1%	14.7%

Net Margin

CCL

MAR

Q4 25	6.6%	6.7%
Q3 25	22.7%	11.2%
Q2 25	8.9%	11.3%
Q1 25	-1.3%	10.6%
Q4 24	5.1%	7.1%
Q3 24	22.0%	9.3%
Q2 24	1.6%	12.0%
Q1 24	-4.0%	9.4%

EPS (diluted)

CCL

MAR

Q4 25	$0.33	$1.67
Q3 25	$1.33	$2.67
Q2 25	$0.42	$2.78
Q1 25	$-0.06	$2.39
Q4 24	$0.28	$1.64
Q3 24	$1.26	$2.07
Q2 24	$0.07	$2.69
Q1 24	$-0.17	$1.93

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.

Metric	CCL	MAR
Cash + ST InvestmentsLiquidity on hand	$1.9B	$358.0M
Total DebtLower is stronger	$27.4B	$15.0B
Stockholders' EquityBook value	$12.3B	$-3.8B
Total Assets	$51.7B	$27.5B
Debt / EquityLower = less leverage	2.23×	—

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Cash + ST Investments

CCL

MAR

Q4 25	$1.9B	$358.0M
Q3 25	$1.8B	$678.0M
Q2 25	$2.1B	$671.0M
Q1 25	$833.0M	$523.0M
Q4 24	$1.2B	$396.0M
Q3 24	$1.5B	$394.0M
Q2 24	$1.6B	$349.0M
Q1 24	$2.2B	$429.0M

Total Debt

CCL

MAR

Q4 25	$27.4B	$15.0B
Q3 25	$27.2B	$14.4B
Q2 25	$28.0B	$14.5B
Q1 25	$27.7B	$14.1B
Q4 24	$28.2B	$13.1B
Q3 24	$29.6B	$12.7B
Q2 24	$30.2B	$12.2B
Q1 24	$31.6B	$11.7B

Stockholders' Equity

CCL

MAR

Q4 25	$12.3B	$-3.8B
Q3 25	$11.9B	$-3.1B
Q2 25	$10.0B	$-3.0B
Q1 25	$9.2B	$-3.2B
Q4 24	$9.3B	$-3.0B
Q3 24	$8.6B	$-2.4B
Q2 24	$6.8B	$-2.1B
Q1 24	$6.7B	$-1.6B

Total Assets

CCL

MAR

Q4 25	$51.7B	$27.5B
Q3 25	$50.8B	$27.8B
Q2 25	$51.2B	$27.3B
Q1 25	$48.5B	$26.7B
Q4 24	$49.1B	$26.2B
Q3 24	$49.8B	$26.2B
Q2 24	$49.6B	$25.7B
Q1 24	$49.8B	$25.8B

Debt / Equity

CCL

MAR

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. Net income can be massaged; cash flow is harder to fake.

Metric	CCL	MAR
Operating Cash FlowLast quarter	$1.5B	$829.0M
Free Cash FlowOCF − Capex	$12.0M	—
FCF MarginFCF / Revenue	0.2%	—
Capex IntensityCapex / Revenue; lower = less reinvestment burden	23.8%	—
Cash ConversionOCF / Net Profit; >1× = earnings back up with cash	3.61×	1.86×
TTM Free Cash FlowTrailing 4 quarters	$2.6B	—

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Operating Cash Flow

CCL

MAR

Q4 25	$1.5B	$829.0M
Q3 25	$1.4B	$1.1B
Q2 25	$2.4B	$643.0M
Q1 25	$925.0M	$647.0M
Q4 24	$911.0M	$318.0M
Q3 24	$1.2B	$880.0M
Q2 24	$2.0B	$772.0M
Q1 24	$1.8B	$779.0M

Free Cash Flow

CCL

MAR

Q4 25	$12.0M	—
Q3 25	$736.0M	$951.0M
Q2 25	$1.5B	$488.0M
Q1 25	$318.0M	$512.0M
Q4 24	$319.0M	$-24.0M
Q3 24	$628.0M	$706.0M
Q2 24	$720.0M	$647.0M
Q1 24	$-370.0M	$670.0M

FCF Margin

CCL

MAR

Q4 25	0.2%	—
Q3 25	9.0%	14.7%
Q2 25	24.4%	7.2%
Q1 25	5.5%	8.2%
Q4 24	5.4%	-0.4%
Q3 24	8.0%	11.3%
Q2 24	12.5%	10.0%
Q1 24	-6.8%	11.2%

Capex Intensity

CCL

MAR

Q4 25	23.8%	—
Q3 25	7.9%	2.2%
Q2 25	13.4%	2.3%
Q1 25	10.4%	2.2%
Q4 24	10.0%	5.3%
Q3 24	7.3%	2.8%
Q2 24	22.8%	1.9%
Q1 24	39.5%	1.8%

Cash Conversion

CCL

MAR

Q4 25	3.61×	1.86×
Q3 25	0.75×	1.50×
Q2 25	4.23×	0.84×
Q1 25	—	0.97×
Q4 24	3.01×	0.70×
Q3 24	0.69×	1.51×
Q2 24	22.16×	1.00×
Q1 24	—	1.38×

Financial Flow Comparison

Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.