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Side-by-side financial comparison of Carnival (CCL) and PG&E Corporation (PCG). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $6.3B, roughly 1.1× Carnival). PG&E Corporation runs the higher net margin — 12.9% vs 6.6%, a 6.2% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs 6.6%). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs 7.2%).
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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
CCL vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.3B | $6.9B |
| Net Profit | $421.0M | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 11.6% | 21.4% |
| Net Margin | 6.6% | 12.9% |
| Revenue YoY | 6.6% | 15.0% |
| Net Profit YoY | 38.9% | 39.6% |
| EPS (diluted) | $0.33 | $0.39 |
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 | — | $6.9B | ||
| Q4 25 | $6.3B | $6.8B | ||
| Q3 25 | $8.2B | $6.3B | ||
| Q2 25 | $6.3B | $5.9B | ||
| Q1 25 | $5.8B | $6.0B | ||
| Q4 24 | $5.9B | $6.6B | ||
| Q3 24 | $7.9B | $5.9B | ||
| Q2 24 | $5.8B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $421.0M | $670.0M | ||
| Q3 25 | $1.9B | $850.0M | ||
| Q2 25 | $565.0M | $549.0M | ||
| Q1 25 | $-78.0M | $634.0M | ||
| Q4 24 | $303.0M | $674.0M | ||
| Q3 24 | $1.7B | $579.0M | ||
| Q2 24 | $92.0M | $524.0M |
| 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 | — | 21.4% | ||
| Q4 25 | 11.6% | 18.0% | ||
| Q3 25 | 27.9% | 19.3% | ||
| Q2 25 | 14.8% | 18.6% | ||
| Q1 25 | 9.3% | 20.4% | ||
| Q4 24 | 9.4% | 15.4% | ||
| Q3 24 | 27.6% | 17.3% | ||
| Q2 24 | 9.7% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 6.6% | 9.8% | ||
| Q3 25 | 22.7% | 13.6% | ||
| Q2 25 | 8.9% | 9.3% | ||
| Q1 25 | -1.3% | 10.6% | ||
| Q4 24 | 5.1% | 10.2% | ||
| Q3 24 | 22.0% | 9.7% | ||
| Q2 24 | 1.6% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.33 | $0.29 | ||
| Q3 25 | $1.33 | $0.37 | ||
| Q2 25 | $0.42 | $0.24 | ||
| Q1 25 | $-0.06 | $0.28 | ||
| Q4 24 | $0.28 | $0.30 | ||
| Q3 24 | $1.26 | $0.27 | ||
| Q2 24 | $0.07 | $0.24 |
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 | — |
| Total DebtLower is stronger | $27.4B | — |
| Stockholders' EquityBook value | $12.3B | — |
| Total Assets | $51.7B | — |
| Debt / EquityLower = less leverage | 2.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $713.0M | ||
| Q3 25 | $1.8B | $404.0M | ||
| Q2 25 | $2.1B | $494.0M | ||
| Q1 25 | $833.0M | $2.0B | ||
| Q4 24 | $1.2B | $940.0M | ||
| Q3 24 | $1.5B | $895.0M | ||
| Q2 24 | $1.6B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $27.4B | $57.4B | ||
| Q3 25 | $27.2B | — | ||
| Q2 25 | $28.0B | — | ||
| Q1 25 | $27.7B | — | ||
| Q4 24 | $28.2B | $53.6B | ||
| Q3 24 | $29.6B | — | ||
| Q2 24 | $30.2B | — |
| Q1 26 | — | — | ||
| Q4 25 | $12.3B | $32.5B | ||
| Q3 25 | $11.9B | $32.0B | ||
| Q2 25 | $10.0B | $31.2B | ||
| Q1 25 | $9.2B | $30.7B | ||
| Q4 24 | $9.3B | $30.1B | ||
| Q3 24 | $8.6B | $26.8B | ||
| Q2 24 | $6.8B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $51.7B | $141.6B | ||
| Q3 25 | $50.8B | $138.2B | ||
| Q2 25 | $51.2B | $136.4B | ||
| Q1 25 | $48.5B | $135.4B | ||
| Q4 24 | $49.1B | $133.7B | ||
| Q3 24 | $49.8B | $132.3B | ||
| Q2 24 | $49.6B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 2.23× | 1.76× | ||
| Q3 25 | 2.28× | — | ||
| Q2 25 | 2.79× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.05× | 1.78× | ||
| Q3 24 | 3.45× | — | ||
| Q2 24 | 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 | $12.0M | — |
| FCF MarginFCF / Revenue | 0.2% | — |
| Capex IntensityCapex / Revenue | 23.8% | — |
| 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 | $2.0B | ||
| Q3 25 | $1.4B | $2.9B | ||
| Q2 25 | $2.4B | $1.1B | ||
| Q1 25 | $925.0M | $2.8B | ||
| Q4 24 | $911.0M | $1.9B | ||
| Q3 24 | $1.2B | $3.1B | ||
| Q2 24 | $2.0B | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | $12.0M | $-1.2B | ||
| Q3 25 | $736.0M | $-80.0M | ||
| Q2 25 | $1.5B | $-2.0B | ||
| Q1 25 | $318.0M | $213.0M | ||
| Q4 24 | $319.0M | $-896.0M | ||
| Q3 24 | $628.0M | $526.0M | ||
| Q2 24 | $720.0M | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | -17.6% | ||
| Q3 25 | 9.0% | -1.3% | ||
| Q2 25 | 24.4% | -34.0% | ||
| Q1 25 | 5.5% | 3.6% | ||
| Q4 24 | 5.4% | -13.5% | ||
| Q3 24 | 8.0% | 8.9% | ||
| Q2 24 | 12.5% | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | 23.8% | 46.4% | ||
| Q3 25 | 7.9% | 46.9% | ||
| Q2 25 | 13.4% | 52.0% | ||
| Q1 25 | 10.4% | 44.0% | ||
| Q4 24 | 10.0% | 42.6% | ||
| Q3 24 | 7.3% | 43.8% | ||
| Q2 24 | 22.8% | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.61× | 2.93× | ||
| Q3 25 | 0.75× | 3.35× | ||
| Q2 25 | 4.23× | 1.93× | ||
| Q1 25 | — | 4.49× | ||
| Q4 24 | 3.01× | 2.87× | ||
| Q3 24 | 0.69× | 5.41× | ||
| Q2 24 | 22.16× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
