CARNIVAL CORP (CCL) Stock Fundamental Analysis
NYSE:CCL - New York Stock Exchange, Inc. - PA1436583006 - Common Stock - Currency: USD
Overall CCL gets a fundamental rating of 4 out of 10. We evaluated CCL against 131 industry peers in the Hotels, Restaurants & Leisure industry. While CCL is still in line with the averages on profitability rating, there are concerns on its financial health. CCL scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
CCL had positive earnings in the past year.
CCL had a positive operating cash flow in the past year.
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
Looking at the Return On Assets, with a value of 4.94%, CCL is in the better half of the industry, outperforming 67.18% of the companies in the same industry.
The Return On Equity of CCL (25.23%) is better than 81.68% of its industry peers.
CCL has a Return On Invested Capital of 8.71%. This is in the better half of the industry: CCL outperforms 68.70% of its industry peers.
| 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 73.28% of the companies in the same industry.
In the last couple of years the Profit Margin of CCL has declined.
CCL's Operating Margin of 16.23% is fine compared to the rest of the industry. CCL outperforms 70.23% of its industry peers.
In the last couple of years the Operating Margin of CCL has declined.
CCL's Gross Margin of 53.90% is fine compared to the rest of the industry. CCL outperforms 63.36% 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CCL is destroying value.
The number of shares outstanding for CCL has been increased compared to 1 year ago.
Compared to 5 years ago, CCL has more shares outstanding
Compared to 1 year ago, CCL has an improved debt to assets ratio.
2.2 Solvency
CCL has an Altman-Z score of 1.23. This is a bad value and indicates that CCL is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of CCL (1.23) is comparable to the rest of the industry.
CCL has a debt to FCF ratio of 9.71. This is a negative value and a sign of low solvency as CCL would need 9.71 years to pay back of all of its debts.
The Debt to FCF ratio of CCL (9.71) is better than 61.83% of its industry peers.
A Debt/Equity ratio of 2.58 is on the high side and indicates that CCL has dependencies on debt financing.
CCL's Debt to Equity ratio of 2.58 is in line compared to the rest of the industry. CCL outperforms 45.04% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.58 | ||
| Debt/FCF | 9.71 | ||
| Altman-Z | 1.23 |
ROIC/WACC0.96
WACC9.03%
2.3 Liquidity
A Current Ratio of 0.34 indicates that CCL may have some problems paying its short term obligations.
With a Current ratio value of 0.34, CCL is not doing good in the industry: 85.50% of the companies in the same industry are doing better.
A Quick Ratio of 0.30 indicates that CCL may have some problems paying its short term obligations.
With a Quick ratio value of 0.30, CCL is not doing good in the industry: 82.44% of the companies in the same industry are doing better.
| 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.
Looking at the last year, CCL shows a quite strong growth in Revenue. The Revenue has grown by 10.82% in the last year.
Measured over the past years, CCL shows a small growth in Revenue. The Revenue has been growing by 3.74% on average per year.
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
Based on estimates for the next years, CCL will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.18% on average per year.
CCL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.02% yearly.
EPS Next Y45.58%
EPS Next 2Y29.31%
EPS Next 3Y24.03%
EPS Next 5Y18.18%
Revenue Next Year6.08%
Revenue Next 2Y4.93%
Revenue Next 3Y4.49%
Revenue Next 5Y4.02%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
CCL is valuated correctly with a Price/Earnings ratio of 15.75.
Based on the Price/Earnings ratio, CCL is valued cheaply inside the industry as 80.15% of the companies are valued more expensively.
CCL is valuated rather cheaply when we compare the Price/Earnings ratio to 26.87, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 12.90, the valuation of CCL can be described as correct.
Based on the Price/Forward Earnings ratio, CCL is valued a bit cheaper than the industry average as 79.39% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 35.34. CCL is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.75 | ||
| Fwd PE | 12.9 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CCL is valued a bit cheaper than 74.05% of the companies in the same industry.
CCL's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CCL is cheaper than 86.26% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.92 | ||
| EV/EBITDA | 9.43 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as CCL's earnings are expected to grow with 24.03% in the coming years.
PEG (NY)0.35
PEG (5Y)N/A
EPS Next 2Y29.31%
EPS Next 3Y24.03%
5. Dividend
5.1 Amount
No dividends for CCL!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
29.76
-0.49 (-1.62%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners65.53%
Inst Owner Change0.14%
Ins Owners7.58%
Ins Owner Change0.26%
Market Cap39.08B
Analysts81.88
Price Target32.81 (10.25%)
Short Float %5.34%
Short Ratio2.41
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)13.05%
PT rev (3m)15.15%
EPS NQ rev (1m)-0.26%
EPS NQ rev (3m)-0.76%
EPS NY rev (1m)0%
EPS NY rev (3m)6.95%
Revenue NQ rev (1m)-0.1%
Revenue NQ rev (3m)1.71%
Revenue NY rev (1m)-0.06%
Revenue NY rev (3m)1.66%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.75 | ||
| Fwd PE | 12.9 | ||
| P/S | 1.5 | ||
| P/FCF | 13.92 | ||
| P/OCF | 7.19 | ||
| P/B | 3.9 | ||
| P/tB | 4.74 | ||
| EV/EBITDA | 9.43 |
EPS(TTM)1.89
EY6.35%
EPS(NY)2.31
Fwd EY7.75%
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 | 1.23 |
F-Score8
WACC9.03%
ROIC/WACC0.96
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 Year6.08%
Revenue Next 2Y4.93%
Revenue Next 3Y4.49%
Revenue Next 5Y4.02%
EBIT growth 1Y48.24%
EBIT growth 3YN/A
EBIT growth 5Y1.76%
EBIT Next Year96.77%
EBIT Next 3Y29.84%
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%