Carnival Corporation (CCL)

Operating profit margin

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Operating income	US$ in thousands	3,574,000	1,956,000	-4,379,000	-7,089,000	-8,865,000
Revenue	US$ in thousands	24,945,000	19,429,000	10,558,000	1,908,000	4,236,000
Operating profit margin		14.33%	10.07%	-41.48%	-371.54%	-209.28%

November 30, 2024 calculation

Operating profit margin = Operating income ÷ Revenue
= $3,574,000K ÷ $24,945,000K
= 14.33%

The operating profit margin of Carnival Corporation has shown significant volatility over the years based on the provided data. In November 2020 and November 2021, the company reported negative operating profit margins of -209.28% and -371.54% respectively, indicating that the company's operating expenses exceeded its revenues during those periods.

However, there has been a notable improvement in the company's operating performance in the subsequent years. By November 2022, Carnival Corporation managed to reduce its operating losses, although still negative, with an operating profit margin of -41.48%.

In the following years, the company's operating profit margin continued to increase, reaching 10.07% in November 2023 and further improving to 14.33% by November 2024. This positive trend suggests that Carnival Corporation has been able to enhance its operational efficiency and generate more profit from its core business activities.

Overall, the progression from negative operating profit margins to positive figures indicates a positive shift in Carnival Corporation's financial performance and operational effectiveness in recent years.