CCL's ROIC Climbs to 13%: Is a New Profitability Cycle Taking Shape?

Key Takeaways Carnival's ROIC reached 13% in Q3 FY25, its strongest level since 2007.Same-ship yields rose 4.6% on close-in demand and higher onboard spending.Lighter capital spending and debt reduction likely support further return gains.Carnival Corporation & plc (CCL) is entering its next stage of operational recovery with a meaningfully stronger return profile, highlighted by return on invested capital (ROIC) reaching 13% in the third quarter of fiscal 2025 — its highest level since 2007. While booking ...