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Side-by-side financial comparison of Carnival (CCL) and PILGRIMS PRIDE CORP (PPC). Click either name above to swap in a different company.
Carnival is the larger business by last-quarter revenue ($6.3B vs $4.5B, roughly 1.4× PILGRIMS PRIDE CORP). Carnival runs the higher net margin — 6.6% vs 1.9%, a 4.7% gap on every dollar of revenue. On growth, Carnival posted the faster year-over-year revenue change (6.6% vs 3.3%). Carnival produced more free cash flow last quarter ($12.0M vs $10.0M). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs 1.8%).
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.
Pilgrim's Pride Corporation is an American, multi-national food company, currently one of the largest chicken producers in the United States and Puerto Rico and the second-largest chicken producer in Mexico. It exited bankruptcy in December 2009 and relocated its U.S. headquarters to Greeley, Colorado, in 2011. It is majority-owned by JBS S.A. Pilgrim's Pride purchased Gold'n Plump for $350 million in late November 2016.
CCL vs PPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.3B | $4.5B |
| Net Profit | $421.0M | $88.0M |
| Gross Margin | — | 9.5% |
| Operating Margin | 11.6% | 4.5% |
| Net Margin | 6.6% | 1.9% |
| Revenue YoY | 6.6% | 3.3% |
| Net Profit YoY | 38.9% | -62.7% |
| EPS (diluted) | $0.33 | $0.37 |
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 | $4.5B | ||
| Q3 25 | $8.2B | $4.8B | ||
| Q2 25 | $6.3B | $4.8B | ||
| Q1 25 | $5.8B | $4.5B | ||
| Q4 24 | $5.9B | $4.4B | ||
| Q3 24 | $7.9B | $4.6B | ||
| Q2 24 | $5.8B | $4.6B | ||
| Q1 24 | $5.4B | $4.4B |
| Q4 25 | $421.0M | $88.0M | ||
| Q3 25 | $1.9B | $342.8M | ||
| Q2 25 | $565.0M | $355.5M | ||
| Q1 25 | $-78.0M | $296.0M | ||
| Q4 24 | $303.0M | $235.9M | ||
| Q3 24 | $1.7B | $349.9M | ||
| Q2 24 | $92.0M | $326.3M | ||
| Q1 24 | $-214.0M | $174.4M |
| Q4 25 | — | 9.5% | ||
| Q3 25 | 46.2% | 13.9% | ||
| Q2 25 | 38.6% | 15.0% | ||
| Q1 25 | 35.2% | 12.4% | ||
| Q4 24 | 35.5% | 12.7% | ||
| Q3 24 | 45.5% | 14.9% | ||
| Q2 24 | 34.3% | 15.2% | ||
| Q1 24 | 31.5% | 8.8% |
| Q4 25 | 11.6% | 4.5% | ||
| Q3 25 | 27.9% | 10.4% | ||
| Q2 25 | 14.8% | 10.8% | ||
| Q1 25 | 9.3% | 9.1% | ||
| Q4 24 | 9.4% | 7.0% | ||
| Q3 24 | 27.6% | 11.1% | ||
| Q2 24 | 9.7% | 9.7% | ||
| Q1 24 | 5.1% | 5.7% |
| Q4 25 | 6.6% | 1.9% | ||
| Q3 25 | 22.7% | 7.2% | ||
| Q2 25 | 8.9% | 7.5% | ||
| Q1 25 | -1.3% | 6.6% | ||
| Q4 24 | 5.1% | 5.4% | ||
| Q3 24 | 22.0% | 7.6% | ||
| Q2 24 | 1.6% | 7.2% | ||
| Q1 24 | -4.0% | 4.0% |
| Q4 25 | $0.33 | $0.37 | ||
| Q3 25 | $1.33 | $1.44 | ||
| Q2 25 | $0.42 | $1.49 | ||
| Q1 25 | $-0.06 | $1.24 | ||
| Q4 24 | $0.28 | $1.00 | ||
| Q3 24 | $1.26 | $1.47 | ||
| Q2 24 | $0.07 | $1.37 | ||
| Q1 24 | $-0.17 | $0.73 |
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 | $640.2M |
| Total DebtLower is stronger | $27.4B | $3.1B |
| Stockholders' EquityBook value | $12.3B | $3.7B |
| Total Assets | $51.7B | $10.3B |
| Debt / EquityLower = less leverage | 2.23× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $640.2M | ||
| Q3 25 | $1.8B | $612.6M | ||
| Q2 25 | $2.1B | $849.0M | ||
| Q1 25 | $833.0M | $2.1B | ||
| Q4 24 | $1.2B | $2.0B | ||
| Q3 24 | $1.5B | $1.9B | ||
| Q2 24 | $1.6B | $1.3B | ||
| Q1 24 | $2.2B | $870.8M |
| Q4 25 | $27.4B | $3.1B | ||
| Q3 25 | $27.2B | $3.1B | ||
| Q2 25 | $28.0B | $3.1B | ||
| Q1 25 | $27.7B | $3.2B | ||
| Q4 24 | $28.2B | $3.2B | ||
| Q3 24 | $29.6B | $3.2B | ||
| Q2 24 | $30.2B | $3.2B | ||
| Q1 24 | $31.6B | $3.3B |
| Q4 25 | $12.3B | $3.7B | ||
| Q3 25 | $11.9B | $3.5B | ||
| Q2 25 | $10.0B | $3.7B | ||
| Q1 25 | $9.2B | $3.1B | ||
| Q4 24 | $9.3B | $4.2B | ||
| Q3 24 | $8.6B | $4.2B | ||
| Q2 24 | $6.8B | $3.7B | ||
| Q1 24 | $6.7B | $3.5B |
| Q4 25 | $51.7B | $10.3B | ||
| Q3 25 | $50.8B | $10.0B | ||
| Q2 25 | $51.2B | $10.1B | ||
| Q1 25 | $48.5B | $11.0B | ||
| Q4 24 | $49.1B | $10.7B | ||
| Q3 24 | $49.8B | $10.7B | ||
| Q2 24 | $49.6B | $10.1B | ||
| Q1 24 | $49.8B | $9.8B |
| Q4 25 | 2.23× | 0.84× | ||
| Q3 25 | 2.28× | 0.87× | ||
| Q2 25 | 2.79× | 0.83× | ||
| Q1 25 | 3.02× | 1.02× | ||
| Q4 24 | 3.05× | 0.76× | ||
| Q3 24 | 3.45× | 0.76× | ||
| Q2 24 | 4.43× | 0.85× | ||
| Q1 24 | 4.72× | 0.96× |
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 | $291.2M |
| Free Cash FlowOCF − Capex | $12.0M | $10.0M |
| FCF MarginFCF / Revenue | 0.2% | 0.2% |
| Capex IntensityCapex / Revenue | 23.8% | 6.2% |
| Cash ConversionOCF / Net Profit | 3.61× | 3.31× |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | $653.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $291.2M | ||
| Q3 25 | $1.4B | $458.3M | ||
| Q2 25 | $2.4B | $495.2M | ||
| Q1 25 | $925.0M | $126.9M | ||
| Q4 24 | $911.0M | $349.3M | ||
| Q3 24 | $1.2B | $651.1M | ||
| Q2 24 | $2.0B | $718.6M | ||
| Q1 24 | $1.8B | $271.0M |
| Q4 25 | $12.0M | $10.0M | ||
| Q3 25 | $736.0M | $275.9M | ||
| Q2 25 | $1.5B | $339.1M | ||
| Q1 25 | $318.0M | $28.1M | ||
| Q4 24 | $319.0M | $176.6M | ||
| Q3 24 | $628.0M | $565.3M | ||
| Q2 24 | $720.0M | $617.7M | ||
| Q1 24 | $-370.0M | $171.9M |
| Q4 25 | 0.2% | 0.2% | ||
| Q3 25 | 9.0% | 5.8% | ||
| Q2 25 | 24.4% | 7.1% | ||
| Q1 25 | 5.5% | 0.6% | ||
| Q4 24 | 5.4% | 4.0% | ||
| Q3 24 | 8.0% | 12.3% | ||
| Q2 24 | 12.5% | 13.5% | ||
| Q1 24 | -6.8% | 3.9% |
| Q4 25 | 23.8% | 6.2% | ||
| Q3 25 | 7.9% | 3.8% | ||
| Q2 25 | 13.4% | 3.3% | ||
| Q1 25 | 10.4% | 2.2% | ||
| Q4 24 | 10.0% | 4.0% | ||
| Q3 24 | 7.3% | 1.9% | ||
| Q2 24 | 22.8% | 2.2% | ||
| Q1 24 | 39.5% | 2.3% |
| Q4 25 | 3.61× | 3.31× | ||
| Q3 25 | 0.75× | 1.34× | ||
| Q2 25 | 4.23× | 1.39× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | 3.01× | 1.48× | ||
| Q3 24 | 0.69× | 1.86× | ||
| Q2 24 | 22.16× | 2.20× | ||
| Q1 24 | — | 1.55× |
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% |
PPC
| Retail | $1.5B | 33% |
| Europe Reportable Segment | $1.4B | 31% |
| Food Service | $889.2M | 20% |
| Prepared Product | $332.8M | 7% |
| Product Export | $122.7M | 3% |
| Other Sales Channel | $96.0M | 2% |
| Other Product And Service | $79.7M | 2% |
| Related Party | $21.7M | 0% |
| Seara Meats B.V. | $18.9M | 0% |
| Penasul UKLTD | $10.3M | 0% |
| JBSUSA Food Company | $5.4M | 0% |
