Carnival Corporation (CCL)

Return on equity (ROE)

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Net income	US$ in thousands	1,916,000	-74,000	-6,093,000	-9,501,000	-10,236,000
Total stockholders’ equity	US$ in thousands	9,251,000	6,882,000	7,065,000	12,144,000	20,555,000
ROE		20.71%	-1.08%	-86.24%	-78.24%	-49.80%

November 30, 2024 calculation

ROE = Net income ÷ Total stockholders’ equity
= $1,916,000K ÷ $9,251,000K
= 20.71%

Carnival Corporation's return on equity (ROE) has varied significantly over the past five years. In November 2020, the ROE was -49.80%, indicating that the company experienced a substantial loss relative to its shareholders' equity. This negative trend intensified in the following years, with ROE decreasing to -78.24% in November 2021 and further dropping to -86.24% in November 2022.

However, there was a notable turnaround in Carnival Corporation's performance by November 2023, as the ROE improved to -1.08%, indicating that the company started generating a positive return relative to shareholders' equity. Moreover, the most recent data point shows a significant improvement, with an ROE of 20.71% in November 2024, signaling a strong rebound in profitability and efficiency in utilizing shareholders' equity.

Overall, Carnival Corporation's ROE exhibited a volatile and improving trajectory over the five-year period, highlighting fluctuations in the company's profitability and shareholder value creation. It is important for investors and stakeholders to closely monitor this metric to assess the company's financial health and performance in the future.