Carnival Corporation (CCL)

Operating profit margin

		Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020
Operating income (ttm)	US$ in thousands	3,575,000	3,398,000	2,844,000	2,404,000	1,956,000	437,000	-1,466,000	-3,059,000	-4,378,000	-5,136,000	-6,914,000	-7,057,000	-7,090,000	-6,839,000	-7,115,000	-9,676,000	-8,865,000	-6,738,000	-2,515,000	2,177,000
Revenue (ttm)	US$ in thousands	24,470,000	23,464,000	21,836,000	20,426,000	19,417,000	17,876,000	15,504,000	13,197,000	10,559,000	7,812,000	4,475,000	2,493,000	1,264,000	654,000	139,000	648,000	5,356,000	10,056,000	16,506,000	20,732,000
Operating profit margin		14.61%	14.48%	13.02%	11.77%	10.07%	2.44%	-9.46%	-23.18%	-41.46%	-65.75%	-154.50%	-283.07%	-560.92%	-1,045.72%	-5,118.71%	-1,493.21%	-165.52%	-67.00%	-15.24%	10.50%

November 30, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $3,575,000K ÷ $24,470,000K
= 14.61%

The operating profit margin of Carnival Corporation experienced a significant decline from the negative range in early 2020, reaching a low point of -5,118.71% in May 2021. This sharp decrease indicates that the company's operating expenses were significantly higher than its revenues during this period.

From August 2021 onwards, there was a gradual improvement in the operating profit margin, with the company moving from a negative percentage to a positive territory by August 2023. The positive trend continued, and by November 2024, Carnival Corporation achieved an operating profit margin of 14.61%.

Overall, the analysis of Carnival Corporation's operating profit margin demonstrates a volatile performance characterized by a period of substantial losses followed by a gradual recovery and eventual profitability. Investors and stakeholders may find this trend indicative of the company's ability to navigate challenging times and improve operational efficiency over the long term.