CARNIVAL CORP (CCL) Stock Fundamental Analysis
NYSE:CCL - New York Stock Exchange, Inc. - PA1436583006 - Common Stock - Currency: USD
Taking everything into account, CCL scores 4 out of 10 in our fundamental rating. CCL was compared to 131 industry peers in the Hotels, Restaurants & Leisure industry. There are concerns on the financial health of CCL while its profitability can be described as average. A decent growth rate in combination with a cheap valuation! Better keep an eye on CCL.
1. Profitability
1.1 Basic Checks
CCL had positive earnings in the past year.
In the past year CCL had a positive cash flow from operations.
In the past 5 years CCL reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: CCL reported negative operating cash flow in multiple years.
1.2 Ratios
The Return On Assets of CCL (4.94%) is better than 67.94% of its industry peers.
CCL has a better Return On Equity (25.23%) than 81.68% of its industry peers.
Looking at the Return On Invested Capital, with a value of 8.71%, CCL is in the better half of the industry, outperforming 69.47% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.94% | ||
| ROE | 25.23% | ||
| ROIC | 8.71% |
ROA(3y)-2.68%
ROA(5y)-8.99%
ROE(3y)-22.2%
ROE(5y)-38.93%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
With a decent Profit Margin value of 9.72%, CCL is doing good in the industry, outperforming 72.52% of the companies in the same industry.
In the last couple of years the Profit Margin of CCL has declined.
CCL has a better Operating Margin (16.23%) than 69.47% of its industry peers.
CCL's Operating Margin has declined in the last couple of years.
CCL's Gross Margin of 53.90% is fine compared to the rest of the industry. CCL outperforms 64.12% of its industry peers.
CCL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 16.23% | ||
| PM (TTM) | 9.72% | ||
| GM | 53.9% |
OM growth 3YN/A
OM growth 5Y-1.91%
PM growth 3YN/A
PM growth 5Y-11.81%
GM growth 3YN/A
GM growth 5Y6.74%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CCL is destroying value.
CCL has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, CCL has more shares outstanding
CCL has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.22, we must say that CCL is in the distress zone and has some risk of bankruptcy.
CCL has a Altman-Z score of 1.22. This is in the lower half of the industry: CCL underperforms 62.60% of its industry peers.
The Debt to FCF ratio of CCL is 9.71, which is on the high side as it means it would take CCL, 9.71 years of fcf income to pay off all of its debts.
CCL's Debt to FCF ratio of 9.71 is fine compared to the rest of the industry. CCL outperforms 61.83% of its industry peers.
CCL has a Debt/Equity ratio of 2.58. This is a high value indicating a heavy dependency on external financing.
CCL has a Debt to Equity ratio (2.58) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.58 | ||
| Debt/FCF | 9.71 | ||
| Altman-Z | 1.22 |
ROIC/WACC1
WACC8.73%
2.3 Liquidity
A Current Ratio of 0.34 indicates that CCL may have some problems paying its short term obligations.
The Current ratio of CCL (0.34) is worse than 86.26% of its industry peers.
CCL has a Quick Ratio of 0.34. This is a bad value and indicates that CCL is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.30, CCL is doing worse than 82.44% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.34 | ||
| Quick Ratio | 0.3 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 148.68% over the past year.
Measured over the past years, CCL shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -20.70% on average per year.
The Revenue has grown by 10.82% in the past year. This is quite good.
The Revenue has been growing slightly by 3.74% on average over the past years.
EPS 1Y (TTM)148.68%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%218.18%
Revenue 1Y (TTM)10.82%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%9.46%
3.2 Future
CCL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.18% yearly.
The Revenue is expected to grow by 4.02% on average over the next years.
EPS Next Y45.58%
EPS Next 2Y29.31%
EPS Next 3Y24.03%
EPS Next 5Y18.18%
Revenue Next Year6.15%
Revenue Next 2Y4.95%
Revenue Next 3Y4.5%
Revenue Next 5Y4.02%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 15.74 indicates a correct valuation of CCL.
Based on the Price/Earnings ratio, CCL is valued cheaply inside the industry as 82.44% of the companies are valued more expensively.
CCL is valuated rather cheaply when we compare the Price/Earnings ratio to 28.04, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 12.89, CCL is valued correctly.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CCL indicates a rather cheap valuation: CCL is cheaper than 82.44% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of CCL to the average of the S&P500 Index (37.64), we can say CCL is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.74 | ||
| Fwd PE | 12.89 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CCL is valued a bit cheaper than the industry average as 74.81% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CCL indicates a rather cheap valuation: CCL is cheaper than 87.02% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.91 | ||
| EV/EBITDA | 9.34 |
4.3 Compensation for Growth
CCL's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
CCL's earnings are expected to grow with 24.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.35
PEG (5Y)N/A
EPS Next 2Y29.31%
EPS Next 3Y24.03%
5. Dividend
5.1 Amount
CCL does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
29.75
-0.03 (-0.1%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners65.08%
Inst Owner Change0.32%
Ins Owners7.58%
Ins Owner Change0.28%
Market Cap39.06B
Analysts81.94
Price Target30.73 (3.29%)
Short Float %5.72%
Short Ratio2.42
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)287.29%
Min EPS beat(2)42.71%
Max EPS beat(2)531.88%
EPS beat(4)4
Avg EPS beat(4)166.46%
Min EPS beat(4)8.2%
Max EPS beat(4)531.88%
EPS beat(8)8
Avg EPS beat(8)188.29%
EPS beat(12)11
Avg EPS beat(12)103.13%
EPS beat(16)11
Avg EPS beat(16)70.73%
Revenue beat(2)2
Avg Revenue beat(2)0.49%
Min Revenue beat(2)0.05%
Max Revenue beat(2)0.93%
Revenue beat(4)2
Avg Revenue beat(4)0%
Min Revenue beat(4)-0.88%
Max Revenue beat(4)0.93%
Revenue beat(8)5
Avg Revenue beat(8)0.18%
Revenue beat(12)7
Avg Revenue beat(12)-0.92%
Revenue beat(16)7
Avg Revenue beat(16)-5.53%
PT rev (1m)8.74%
PT rev (3m)5.12%
EPS NQ rev (1m)0.03%
EPS NQ rev (3m)-0.5%
EPS NY rev (1m)5.7%
EPS NY rev (3m)6.95%
Revenue NQ rev (1m)1.97%
Revenue NQ rev (3m)1.81%
Revenue NY rev (1m)1.59%
Revenue NY rev (3m)1.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.74 | ||
| Fwd PE | 12.89 | ||
| P/S | 1.5 | ||
| P/FCF | 13.91 | ||
| P/OCF | 7.19 | ||
| P/B | 3.9 | ||
| P/tB | 4.73 | ||
| EV/EBITDA | 9.34 |
EPS(TTM)1.89
EY6.35%
EPS(NY)2.31
Fwd EY7.76%
FCF(TTM)2.14
FCFY7.19%
OCF(TTM)4.14
OCFY13.91%
SpS19.78
BVpS7.62
TBVpS6.28
PEG (NY)0.35
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.94% | ||
| ROE | 25.23% | ||
| ROCE | 11.02% | ||
| ROIC | 8.71% | ||
| ROICexc | 9.23% | ||
| ROICexgc | 9.7% | ||
| OM | 16.23% | ||
| PM (TTM) | 9.72% | ||
| GM | 53.9% | ||
| FCFM | 10.81% |
ROA(3y)-2.68%
ROA(5y)-8.99%
ROE(3y)-22.2%
ROE(5y)-38.93%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-0.03%
ROICexc growth 3YN/A
ROICexc growth 5Y1.43%
OM growth 3YN/A
OM growth 5Y-1.91%
PM growth 3YN/A
PM growth 5Y-11.81%
GM growth 3YN/A
GM growth 5Y6.74%
F-Score8
Asset Turnover0.51
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.58 | ||
| Debt/FCF | 9.71 | ||
| Debt/EBITDA | 3.76 | ||
| Cap/Depr | 98.91% | ||
| Cap/Sales | 10.11% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 79.09% | ||
| Profit Quality | 111.21% | ||
| Current Ratio | 0.34 | ||
| Quick Ratio | 0.3 | ||
| Altman-Z | 1.22 |
F-Score8
WACC8.73%
ROIC/WACC1
Cap/Depr(3y)178.87%
Cap/Depr(5y)171.94%
Cap/Sales(3y)24.77%
Cap/Sales(5y)65.61%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)148.68%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%218.18%
EPS Next Y45.58%
EPS Next 2Y29.31%
EPS Next 3Y24.03%
EPS Next 5Y18.18%
Revenue 1Y (TTM)10.82%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%9.46%
Revenue Next Year6.15%
Revenue Next 2Y4.95%
Revenue Next 3Y4.5%
Revenue Next 5Y4.02%
EBIT growth 1Y48.24%
EBIT growth 3YN/A
EBIT growth 5Y1.76%
EBIT Next Year91.3%
EBIT Next 3Y28.51%
EBIT Next 5Y18.23%
FCF growth 1Y215.65%
FCF growth 3YN/A
FCF growth 5Y94.16%
OCF growth 1Y411.29%
OCF growth 3YN/A
OCF growth 5Y1.58%