Carnival Corporation plc (0EV1.L) Q4 2024 Earnings Report

Key Q4 2024 metrics (USD):
- Revenue: $5.938B; YoY +10.04%; QoQ -24.80%
- Gross profit: $2.105B; gross margin 35.45% (vs. 35.45% implied by given ratios)
- EBITDA: $1.351B; EBITDA margin ~22.75%
- Operating income: $561M; operating margin ~9.45%
- Net income: $303M; net margin ~5.10%; EPS $0.17; diluted $0.17
- Cash flow: Operating cash flow $0.911B; capex $-0.592B; free cash flow $0.319B
- Balance sheet (end of period): total assets $49.056B; total liabilities $39.806B; total equity $9.252B
- Debt: total debt $28.876B; net debt $27.666B; long-term debt $27.175B; short-term debt $1.701B
- Liquidity: cash and cash equivalents $1.210B; cash at end of period $1.231B; deferred revenue $6.425B
- Key liquidity ratios: current ratio 0.262; quick ratio 0.218; cash ratio 0.104
- Leverage & coverage: debt-to-capitalization 0.757; debt-to-equity 3.12; interest coverage 1.39; ROA 0.62%; ROE 3.28%; ROCE 1.50%
- Valuation snapshot (period end): P/E ~27.3x; P/B ~3.58x; P/S ~5.57x; EV/Revenue not provided; cash flow metrics imply meaningful FCF on a quarterly basis despite heavy capital structure.