CARNIVAL CORP (CCL) Stock Fundamental Analysis
NYSE:CCL - New York Stock Exchange, Inc. - PA1436583006 - Common Stock - Currency: USD
We assign a fundamental rating of 4 out of 10 to CCL. CCL was compared to 135 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.
CCL had a positive operating cash flow in the past year.
CCL had negative earnings in 4 of the past 5 years.
In multiple years CCL reported negative operating cash flow during the last 5 years.
1.2 Ratios
CCL has a better Return On Assets (4.23%) than 67.41% of its industry peers.
The Return On Equity of CCL (22.35%) is better than 80.74% of its industry peers.
Looking at the Return On Invested Capital, with a value of 8.21%, CCL is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.23% | ||
| ROE | 22.35% | ||
| ROIC | 8.21% |
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 8.07%, CCL is doing good in the industry, outperforming 65.93% 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 15.11% is fine compared to the rest of the industry. CCL outperforms 65.93% of its industry peers.
In the last couple of years the Operating Margin of CCL has declined.
CCL has a better Gross Margin (53.19%) than 62.96% of its industry peers.
CCL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.11% | ||
| PM (TTM) | 8.07% | ||
| GM | 53.19% |
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
Compared to 1 year ago, CCL has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.07, we must say that CCL is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 1.07, CCL is not doing good in the industry: 63.70% of the companies in the same industry are doing better.
CCL has a debt to FCF ratio of 13.60. This is a negative value and a sign of low solvency as CCL would need 13.60 years to pay back of all of its debts.
CCL has a Debt to FCF ratio of 13.60. This is comparable to the rest of the industry: CCL outperforms 49.63% of its industry peers.
CCL has a Debt/Equity ratio of 2.78. This is a high value indicating a heavy dependency on external financing.
CCL has a Debt to Equity ratio (2.78) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.78 | ||
| Debt/FCF | 13.6 | ||
| Altman-Z | 1.07 |
ROIC/WACC0.96
WACC8.54%
2.3 Liquidity
CCL has a Current Ratio of 0.26. This is a bad value and indicates that CCL is not financially healthy enough and could expect problems in meeting its short term obligations.
CCL has a Current ratio of 0.26. This is amonst the worse of the industry: CCL underperforms 91.85% of its industry peers.
CCL has a Quick Ratio of 0.26. This is a bad value and indicates that CCL is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of CCL (0.21) is worse than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.26 | ||
| Quick Ratio | 0.21 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 385.29% over the past year.
The earnings per share for CCL have been decreasing by -20.70% on average. This is quite bad
The Revenue has grown by 12.66% in the past year. This is quite good.
CCL shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.74% yearly.
EPS 1Y (TTM)385.29%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%192.86%
Revenue 1Y (TTM)12.66%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%7.47%
3.2 Future
The Earnings Per Share is expected to grow by 18.55% on average over the next years. This is quite good.
The Revenue is expected to grow by 4.12% on average over the next years.
EPS Next Y36.3%
EPS Next 2Y24.93%
EPS Next 3Y22.21%
EPS Next 5Y18.55%
Revenue Next Year4.35%
Revenue Next 2Y4.03%
Revenue Next 3Y3.84%
Revenue Next 5Y4.12%
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.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
CCL is valuated correctly with a Price/Earnings ratio of 13.59.
82.22% of the companies in the same industry are more expensive than CCL, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 25.91. CCL is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 10.41, the valuation of CCL can be described as reasonable.
CCL's Price/Forward Earnings ratio is rather cheap when compared to the industry. CCL is cheaper than 85.19% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.85, CCL is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.59 | ||
| Fwd PE | 10.41 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CCL indicates a somewhat cheap valuation: CCL is cheaper than 72.59% of the companies listed in the same industry.
81.48% of the companies in the same industry are more expensive than CCL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.82 | ||
| EV/EBITDA | 8.56 |
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.
A more expensive valuation may be justified as CCL's earnings are expected to grow with 22.21% in the coming years.
PEG (NY)0.37
PEG (5Y)N/A
EPS Next 2Y24.93%
EPS Next 3Y22.21%
5. Dividend
5.1 Amount
No dividends for CCL!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
22.43
+0.39 (+1.77%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners62.46%
Inst Owner Change7.78%
Ins Owners7.57%
Ins Owner Change0.28%
Market Cap29.43B
Analysts80.61
Price Target28.5 (27.06%)
Short Float %5.35%
Short Ratio2.05
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)307.47%
Min EPS beat(2)83.06%
Max EPS beat(2)531.88%
EPS beat(4)4
Avg EPS beat(4)345.5%
Min EPS beat(4)8.2%
Max EPS beat(4)758.87%
EPS beat(8)8
Avg EPS beat(8)184.17%
EPS beat(12)10
Avg EPS beat(12)96.34%
EPS beat(16)10
Avg EPS beat(16)67.36%
Revenue beat(2)1
Avg Revenue beat(2)-0.42%
Min Revenue beat(2)-0.88%
Max Revenue beat(2)0.05%
Revenue beat(4)2
Avg Revenue beat(4)-0.05%
Min Revenue beat(4)-0.88%
Max Revenue beat(4)0.75%
Revenue beat(8)5
Avg Revenue beat(8)0.32%
Revenue beat(12)6
Avg Revenue beat(12)-2.18%
Revenue beat(16)6
Avg Revenue beat(16)-10.24%
PT rev (1m)-2.53%
PT rev (3m)-4.64%
EPS NQ rev (1m)0.17%
EPS NQ rev (3m)6.01%
EPS NY rev (1m)0.14%
EPS NY rev (3m)5.78%
Revenue NQ rev (1m)-0.06%
Revenue NQ rev (3m)0.19%
Revenue NY rev (1m)-0.19%
Revenue NY rev (3m)0.13%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.59 | ||
| Fwd PE | 10.41 | ||
| P/S | 1.16 | ||
| P/FCF | 14.82 | ||
| P/OCF | 5.79 | ||
| P/B | 3.2 | ||
| P/tB | 3.95 | ||
| EV/EBITDA | 8.56 |
EPS(TTM)1.65
EY7.36%
EPS(NY)2.15
Fwd EY9.6%
FCF(TTM)1.51
FCFY6.75%
OCF(TTM)3.87
OCFY17.27%
SpS19.38
BVpS7
TBVpS5.67
PEG (NY)0.37
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.23% | ||
| ROE | 22.35% | ||
| ROCE | 10.4% | ||
| ROIC | 8.21% | ||
| ROICexc | 8.4% | ||
| ROICexgc | 8.83% | ||
| OM | 15.11% | ||
| PM (TTM) | 8.07% | ||
| GM | 53.19% | ||
| FCFM | 7.81% |
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-Score7
Asset Turnover0.52
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.78 | ||
| Debt/FCF | 13.6 | ||
| Debt/EBITDA | 3.96 | ||
| Cap/Depr | 119.13% | ||
| Cap/Sales | 12.17% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 78.9% | ||
| Profit Quality | 96.78% | ||
| Current Ratio | 0.26 | ||
| Quick Ratio | 0.21 | ||
| Altman-Z | 1.07 |
F-Score7
WACC8.54%
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)385.29%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%192.86%
EPS Next Y36.3%
EPS Next 2Y24.93%
EPS Next 3Y22.21%
EPS Next 5Y18.55%
Revenue 1Y (TTM)12.66%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%7.47%
Revenue Next Year4.35%
Revenue Next 2Y4.03%
Revenue Next 3Y3.84%
Revenue Next 5Y4.12%
EBIT growth 1Y59.82%
EBIT growth 3YN/A
EBIT growth 5Y1.76%
EBIT Next Year90.99%
EBIT Next 3Y28.88%
EBIT Next 5Y18.36%
FCF growth 1Y159.2%
FCF growth 3YN/A
FCF growth 5Y94.16%
OCF growth 1Y7358.57%
OCF growth 3YN/A
OCF growth 5Y1.58%