• Carnival average gross margin for 2024 was 36.26%, a 39.84% increase from 2023.
• Carnival average gross margin for 2023 was 25.93%, a 233.45% increase from 2022.
• Carnival average gross margin for 2022 was -19.43%, a 97.22% decline from 2021.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.