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Side-by-side financial comparison of Carnival (CCL) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Carnival is the larger business by last-quarter revenue ($6.3B vs $6.3B, roughly 1.0× Block, Inc.). Carnival runs the higher net margin — 6.6% vs 1.9%, a 4.8% gap on every dollar of revenue. On growth, Carnival posted the faster year-over-year revenue change (6.6% vs 3.6%). Block, Inc. produced more free cash flow last quarter ($579.8M vs $12.0M). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs 2.4%).
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.
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
CCL vs XYZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.3B | $6.3B |
| Net Profit | $421.0M | $115.8M |
| Gross Margin | — | 45.9% |
| Operating Margin | 11.6% | 7.8% |
| Net Margin | 6.6% | 1.9% |
| Revenue YoY | 6.6% | 3.6% |
| Net Profit YoY | 38.9% | -94.1% |
| EPS (diluted) | $0.33 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $8.2B | $6.1B | ||
| Q2 25 | $6.3B | $6.1B | ||
| Q1 25 | $5.8B | $5.8B | ||
| Q4 24 | $5.9B | $6.0B | ||
| Q3 24 | $7.9B | $6.0B | ||
| Q2 24 | $5.8B | $6.2B | ||
| Q1 24 | $5.4B | $6.0B |
| Q4 25 | $421.0M | $115.8M | ||
| Q3 25 | $1.9B | $461.5M | ||
| Q2 25 | $565.0M | $538.5M | ||
| Q1 25 | $-78.0M | $189.9M | ||
| Q4 24 | $303.0M | $1.9B | ||
| Q3 24 | $1.7B | $283.8M | ||
| Q2 24 | $92.0M | $195.3M | ||
| Q1 24 | $-214.0M | $472.0M |
| Q4 25 | — | 45.9% | ||
| Q3 25 | 46.2% | 43.5% | ||
| Q2 25 | 38.6% | 41.9% | ||
| Q1 25 | 35.2% | 39.7% | ||
| Q4 24 | 35.5% | 38.3% | ||
| Q3 24 | 45.5% | 37.6% | ||
| Q2 24 | 34.3% | 36.3% | ||
| Q1 24 | 31.5% | 35.2% |
| Q4 25 | 11.6% | 7.8% | ||
| Q3 25 | 27.9% | 6.7% | ||
| Q2 25 | 14.8% | 8.0% | ||
| Q1 25 | 9.3% | 5.7% | ||
| Q4 24 | 9.4% | 0.2% | ||
| Q3 24 | 27.6% | 5.4% | ||
| Q2 24 | 9.7% | 5.0% | ||
| Q1 24 | 5.1% | 4.2% |
| Q4 25 | 6.6% | 1.9% | ||
| Q3 25 | 22.7% | 7.5% | ||
| Q2 25 | 8.9% | 8.9% | ||
| Q1 25 | -1.3% | 3.3% | ||
| Q4 24 | 5.1% | 32.3% | ||
| Q3 24 | 22.0% | 4.7% | ||
| Q2 24 | 1.6% | 3.2% | ||
| Q1 24 | -4.0% | 7.9% |
| Q4 25 | $0.33 | $0.19 | ||
| Q3 25 | $1.33 | $0.74 | ||
| Q2 25 | $0.42 | $0.87 | ||
| Q1 25 | $-0.06 | $0.30 | ||
| Q4 24 | $0.28 | $3.06 | ||
| Q3 24 | $1.26 | $0.45 | ||
| Q2 24 | $0.07 | $0.31 | ||
| Q1 24 | $-0.17 | $0.74 |
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 | $6.6B |
| Total DebtLower is stronger | $27.4B | — |
| Stockholders' EquityBook value | $12.3B | $22.2B |
| Total Assets | $51.7B | $39.5B |
| Debt / EquityLower = less leverage | 2.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $6.6B | ||
| Q3 25 | $1.8B | $8.3B | ||
| Q2 25 | $2.1B | $6.4B | ||
| Q1 25 | $833.0M | $7.1B | ||
| Q4 24 | $1.2B | $8.1B | ||
| Q3 24 | $1.5B | $8.3B | ||
| Q2 24 | $1.6B | $7.8B | ||
| Q1 24 | $2.2B | $5.8B |
| Q4 25 | $27.4B | — | ||
| Q3 25 | $27.2B | $7.3B | ||
| Q2 25 | $28.0B | $5.1B | ||
| Q1 25 | $27.7B | $5.1B | ||
| Q4 24 | $28.2B | $6.1B | ||
| Q3 24 | $29.6B | $6.1B | ||
| Q2 24 | $30.2B | $6.1B | ||
| Q1 24 | $31.6B | $4.1B |
| Q4 25 | $12.3B | $22.2B | ||
| Q3 25 | $11.9B | $22.5B | ||
| Q2 25 | $10.0B | $22.2B | ||
| Q1 25 | $9.2B | $21.5B | ||
| Q4 24 | $9.3B | $21.3B | ||
| Q3 24 | $8.6B | $19.9B | ||
| Q2 24 | $6.8B | $19.3B | ||
| Q1 24 | $6.7B | $19.0B |
| Q4 25 | $51.7B | $39.5B | ||
| Q3 25 | $50.8B | $39.2B | ||
| Q2 25 | $51.2B | $36.9B | ||
| Q1 25 | $48.5B | $36.4B | ||
| Q4 24 | $49.1B | $36.8B | ||
| Q3 24 | $49.8B | $36.4B | ||
| Q2 24 | $49.6B | $37.5B | ||
| Q1 24 | $49.8B | $35.6B |
| Q4 25 | 2.23× | — | ||
| Q3 25 | 2.28× | 0.32× | ||
| Q2 25 | 2.79× | 0.23× | ||
| Q1 25 | 3.02× | 0.24× | ||
| Q4 24 | 3.05× | 0.29× | ||
| Q3 24 | 3.45× | 0.31× | ||
| Q2 24 | 4.43× | 0.32× | ||
| Q1 24 | 4.72× | 0.22× |
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 | $621.0M |
| Free Cash FlowOCF − Capex | $12.0M | $579.8M |
| FCF MarginFCF / Revenue | 0.2% | 9.3% |
| Capex IntensityCapex / Revenue | 23.8% | 0.7% |
| Cash ConversionOCF / Net Profit | 3.61× | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $621.0M | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $2.4B | $374.3M | ||
| Q1 25 | $925.0M | $133.3M | ||
| Q4 24 | $911.0M | $13.8M | ||
| Q3 24 | $1.2B | $684.8M | ||
| Q2 24 | $2.0B | $519.4M | ||
| Q1 24 | $1.8B | $489.4M |
| Q4 25 | $12.0M | $579.8M | ||
| Q3 25 | $736.0M | $1.4B | ||
| Q2 25 | $1.5B | $343.0M | ||
| Q1 25 | $318.0M | $101.5M | ||
| Q4 24 | $319.0M | $-13.2M | ||
| Q3 24 | $628.0M | $628.2M | ||
| Q2 24 | $720.0M | $481.0M | ||
| Q1 24 | $-370.0M | $457.4M |
| Q4 25 | 0.2% | 9.3% | ||
| Q3 25 | 9.0% | 22.9% | ||
| Q2 25 | 24.4% | 5.7% | ||
| Q1 25 | 5.5% | 1.8% | ||
| Q4 24 | 5.4% | -0.2% | ||
| Q3 24 | 8.0% | 10.5% | ||
| Q2 24 | 12.5% | 7.8% | ||
| Q1 24 | -6.8% | 7.7% |
| Q4 25 | 23.8% | 0.7% | ||
| Q3 25 | 7.9% | 0.8% | ||
| Q2 25 | 13.4% | 0.5% | ||
| Q1 25 | 10.4% | 0.6% | ||
| Q4 24 | 10.0% | 0.4% | ||
| Q3 24 | 7.3% | 0.9% | ||
| Q2 24 | 22.8% | 0.6% | ||
| Q1 24 | 39.5% | 0.5% |
| Q4 25 | 3.61× | 5.36× | ||
| Q3 25 | 0.75× | 3.14× | ||
| Q2 25 | 4.23× | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 3.01× | 0.01× | ||
| Q3 24 | 0.69× | 2.41× | ||
| Q2 24 | 22.16× | 2.66× | ||
| Q1 24 | — | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
