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Side-by-side financial comparison of Carnival (CCL) and PBF Energy Inc. (PBF). Click either name above to swap in a different company.
PBF Energy Inc. is the larger business by last-quarter revenue ($7.1B vs $6.3B, roughly 1.1× Carnival). Carnival runs the higher net margin — 6.6% vs 1.1%, a 5.6% gap on every dollar of revenue. On growth, Carnival posted the faster year-over-year revenue change (6.6% vs -2.9%). PBF Energy Inc. produced more free cash flow last quarter ($77.0M vs $12.0M). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs -9.1%).
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.
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diese...
CCL vs PBF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.3B | $7.1B |
| Net Profit | $421.0M | $78.4M |
| Gross Margin | — | -1.8% |
| Operating Margin | 11.6% | 1.8% |
| Net Margin | 6.6% | 1.1% |
| Revenue YoY | 6.6% | -2.9% |
| Net Profit YoY | 38.9% | 127.1% |
| EPS (diluted) | $0.33 | $0.74 |
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 | $7.1B | ||
| Q3 25 | $8.2B | $7.7B | ||
| Q2 25 | $6.3B | $7.5B | ||
| Q1 25 | $5.8B | $7.1B | ||
| Q4 24 | $5.9B | $7.4B | ||
| Q3 24 | $7.9B | $8.4B | ||
| Q2 24 | $5.8B | $8.7B | ||
| Q1 24 | $5.4B | $8.6B |
| Q4 25 | $421.0M | $78.4M | ||
| Q3 25 | $1.9B | $170.1M | ||
| Q2 25 | $565.0M | $-5.2M | ||
| Q1 25 | $-78.0M | $-401.8M | ||
| Q4 24 | $303.0M | $-289.3M | ||
| Q3 24 | $1.7B | $-285.9M | ||
| Q2 24 | $92.0M | $-65.2M | ||
| Q1 24 | $-214.0M | $106.6M |
| Q4 25 | — | -1.8% | ||
| Q3 25 | 46.2% | 0.5% | ||
| Q2 25 | 38.6% | -0.8% | ||
| Q1 25 | 35.2% | -5.9% | ||
| Q4 24 | 35.5% | -4.2% | ||
| Q3 24 | 45.5% | -3.4% | ||
| Q2 24 | 34.3% | 0.1% | ||
| Q1 24 | 31.5% | 2.5% |
| Q4 25 | 11.6% | 1.8% | ||
| Q3 25 | 27.9% | 3.7% | ||
| Q2 25 | 14.8% | 0.6% | ||
| Q1 25 | 9.3% | -7.2% | ||
| Q4 24 | 9.4% | -5.2% | ||
| Q3 24 | 27.6% | -4.6% | ||
| Q2 24 | 9.7% | -0.9% | ||
| Q1 24 | 5.1% | 1.7% |
| Q4 25 | 6.6% | 1.1% | ||
| Q3 25 | 22.7% | 2.2% | ||
| Q2 25 | 8.9% | -0.1% | ||
| Q1 25 | -1.3% | -5.7% | ||
| Q4 24 | 5.1% | -3.9% | ||
| Q3 24 | 22.0% | -3.4% | ||
| Q2 24 | 1.6% | -0.7% | ||
| Q1 24 | -4.0% | 1.2% |
| Q4 25 | $0.33 | $0.74 | ||
| Q3 25 | $1.33 | $1.45 | ||
| Q2 25 | $0.42 | $-0.05 | ||
| Q1 25 | $-0.06 | $-3.53 | ||
| Q4 24 | $0.28 | $-2.41 | ||
| Q3 24 | $1.26 | $-2.49 | ||
| Q2 24 | $0.07 | $-0.56 | ||
| Q1 24 | $-0.17 | $0.86 |
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 | $527.9M |
| Total DebtLower is stronger | $27.4B | — |
| Stockholders' EquityBook value | $12.3B | $5.3B |
| Total Assets | $51.7B | $13.0B |
| Debt / EquityLower = less leverage | 2.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $527.9M | ||
| Q3 25 | $1.8B | $482.0M | ||
| Q2 25 | $2.1B | $590.7M | ||
| Q1 25 | $833.0M | $468.6M | ||
| Q4 24 | $1.2B | $536.1M | ||
| Q3 24 | $1.5B | $976.7M | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $2.2B | $1.4B |
| Q4 25 | $27.4B | — | ||
| Q3 25 | $27.2B | — | ||
| Q2 25 | $28.0B | — | ||
| Q1 25 | $27.7B | — | ||
| Q4 24 | $28.2B | — | ||
| Q3 24 | $29.6B | — | ||
| Q2 24 | $30.2B | — | ||
| Q1 24 | $31.6B | — |
| Q4 25 | $12.3B | $5.3B | ||
| Q3 25 | $11.9B | $5.2B | ||
| Q2 25 | $10.0B | $5.1B | ||
| Q1 25 | $9.2B | $5.1B | ||
| Q4 24 | $9.3B | $5.5B | ||
| Q3 24 | $8.6B | $5.9B | ||
| Q2 24 | $6.8B | $6.3B | ||
| Q1 24 | $6.7B | $6.5B |
| Q4 25 | $51.7B | $13.0B | ||
| Q3 25 | $50.8B | $13.0B | ||
| Q2 25 | $51.2B | $13.0B | ||
| Q1 25 | $48.5B | $13.0B | ||
| Q4 24 | $49.1B | $12.7B | ||
| Q3 24 | $49.8B | $13.1B | ||
| Q2 24 | $49.6B | $14.1B | ||
| Q1 24 | $49.8B | $13.8B |
| 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. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.5B | $366.6M |
| Free Cash FlowOCF − Capex | $12.0M | $77.0M |
| FCF MarginFCF / Revenue | 0.2% | 1.1% |
| Capex IntensityCapex / Revenue | 23.8% | 4.1% |
| Cash ConversionOCF / Net Profit | 3.61× | 4.68× |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | $-783.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $366.6M | ||
| Q3 25 | $1.4B | $25.7M | ||
| Q2 25 | $2.4B | $191.1M | ||
| Q1 25 | $925.0M | $-661.4M | ||
| Q4 24 | $911.0M | $-329.7M | ||
| Q3 24 | $1.2B | $-68.0M | ||
| Q2 24 | $2.0B | $425.3M | ||
| Q1 24 | $1.8B | $15.8M |
| Q4 25 | $12.0M | $77.0M | ||
| Q3 25 | $736.0M | $-122.8M | ||
| Q2 25 | $1.5B | $35.0M | ||
| Q1 25 | $318.0M | $-772.4M | ||
| Q4 24 | $319.0M | $-425.7M | ||
| Q3 24 | $628.0M | $-169.8M | ||
| Q2 24 | $720.0M | $371.8M | ||
| Q1 24 | $-370.0M | $-123.8M |
| Q4 25 | 0.2% | 1.1% | ||
| Q3 25 | 9.0% | -1.6% | ||
| Q2 25 | 24.4% | 0.5% | ||
| Q1 25 | 5.5% | -10.9% | ||
| Q4 24 | 5.4% | -5.8% | ||
| Q3 24 | 8.0% | -2.0% | ||
| Q2 24 | 12.5% | 4.3% | ||
| Q1 24 | -6.8% | -1.4% |
| Q4 25 | 23.8% | 4.1% | ||
| Q3 25 | 7.9% | 1.9% | ||
| Q2 25 | 13.4% | 2.1% | ||
| Q1 25 | 10.4% | 1.6% | ||
| Q4 24 | 10.0% | 1.3% | ||
| Q3 24 | 7.3% | 1.2% | ||
| Q2 24 | 22.8% | 0.6% | ||
| Q1 24 | 39.5% | 1.6% |
| Q4 25 | 3.61× | 4.68× | ||
| Q3 25 | 0.75× | 0.15× | ||
| Q2 25 | 4.23× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.01× | — | ||
| Q3 24 | 0.69× | — | ||
| Q2 24 | 22.16× | — | ||
| Q1 24 | — | 0.15× |
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% |
PBF
| Gasoline And Distillate | $6.4B | 89% |
| Asphaltand Residual Oil | $283.6M | 4% |
| Other | $149.4M | 2% |
| Chemicals | $145.1M | 2% |
| Logistics Group | $93.5M | 1% |
| Lubricants | $81.9M | 1% |
