Carnival Corporation (CCL)
Pretax margin
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -61,000 | -6,079,000 | -9,522,000 | -10,253,000 | 3,061,000 |
| Revenue | US$ in thousands | 19,429,000 | 10,558,000 | 1,908,000 | 4,236,000 | 20,619,000 |
| Pretax margin | -0.31% | -57.58% | -499.06% | -242.04% | 14.85% |
November 30, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-61,000K ÷ $19,429,000K
= -0.31%
The pretax margin of Carnival Corp. has exhibited significant fluctuations over the past five years. In 2019, the company experienced a healthy pretax margin of 14.70%, indicating efficient cost management and profitability. However, the subsequent years saw a drastic downturn, with pretax margins of -183.30%, -499.06%, and -49.95% in 2020, 2021, and 2022 respectively. Notably, the pretax margin plummeted to -0.29% in 2023, signaling ongoing challenges in generating profit before accounting for taxes and extraordinary items. This trend suggests that Carnival Corp. may be grappling with heightened operating costs or decreased revenue, resulting in diminished pre-tax profitability.
Peer comparison
Nov 30, 2023