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CARNIVAL CORP (CCL) Stock Fundamental Analysis

NYSE:CCL - New York Stock Exchange, Inc. - PA1436583006 - Common Stock - Currency: USD

23.61  +0.33 (+1.42%)

Premarket: 23.55 -0.06 (-0.25%)

Fundamental Rating

4

CCL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 134 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.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

In the past year CCL was profitable.
In the past year CCL had a positive cash flow from operations.
CCL had negative earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: CCL reported negative operating cash flow in multiple years.
CCL Yearly Net Income VS EBIT VS OCF VS FCFCCL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B -10B

1.2 Ratios

Looking at the Return On Assets, with a value of 4.23%, CCL is in the better half of the industry, outperforming 65.67% of the companies in the same industry.
With an excellent Return On Equity value of 22.35%, CCL belongs to the best of the industry, outperforming 80.60% of the companies in the same industry.
CCL's Return On Invested Capital of 8.21% is fine compared to the rest of the industry. CCL outperforms 67.91% of its industry peers.
Industry RankSector 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
CCL Yearly ROA, ROE, ROICCCL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 -40 -60 -80

1.3 Margins

The Profit Margin of CCL (8.07%) is better than 64.93% of its industry peers.
CCL's Profit Margin has declined in the last couple of years.
CCL's Operating Margin of 15.11% is fine compared to the rest of the industry. CCL outperforms 67.16% of its industry peers.
CCL's Operating Margin has declined in the last couple of years.
With a decent Gross Margin value of 53.19%, CCL is doing good in the industry, outperforming 61.94% of the companies in the same industry.
CCL's Gross Margin has improved in the last couple of years.
Industry RankSector 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%
CCL Yearly Profit, Operating, Gross MarginsCCL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CCL is still creating some 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
The debt/assets ratio for CCL has been reduced compared to a year ago.
CCL Yearly Shares OutstandingCCL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
CCL Yearly Total Debt VS Total AssetsCCL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

CCL has an Altman-Z score of 1.10. This is a bad value and indicates that CCL is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.10, CCL is doing worse than 61.94% of the companies in the same industry.
The Debt to FCF ratio of CCL is 13.60, which is on the high side as it means it would take CCL, 13.60 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 13.60, CCL perfoms like the industry average, outperforming 52.24% of the companies in the same industry.
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 comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 2.78
Debt/FCF 13.6
Altman-Z 1.1
ROIC/WACC1.13
WACC7.24%
CCL Yearly LT Debt VS Equity VS FCFCCL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

2.3 Liquidity

A Current Ratio of 0.26 indicates that CCL may have some problems paying its short term obligations.
CCL's Current ratio of 0.26 is on the low side compared to the rest of the industry. CCL is outperformed by 93.28% 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.
CCL's Quick ratio of 0.21 is on the low side compared to the rest of the industry. CCL is outperformed by 94.03% of its industry peers.
Industry RankSector Rank
Current Ratio 0.26
Quick Ratio 0.21
CCL Yearly Current Assets VS Current LiabilitesCCL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

5

3. Growth

3.1 Past

CCL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 385.29%, which is quite impressive.
The earnings per share for CCL have been decreasing by -20.70% on average. This is quite bad
Looking at the last year, CCL shows a quite strong growth in Revenue. The Revenue has grown by 12.66% in the last year.
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

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.
Based on estimates for the next years, CCL will show a small growth in Revenue. The Revenue will grow by 4.02% on average per year.
EPS Next Y36.3%
EPS Next 2Y24.93%
EPS Next 3Y22.21%
EPS Next 5Y18.18%
Revenue Next Year4.35%
Revenue Next 2Y4.01%
Revenue Next 3Y3.84%
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.
CCL Yearly Revenue VS EstimatesCCL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 10B 20B 30B
CCL Yearly EPS VS EstimatesCCL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 2 -2 4 -4 -6

8

4. Valuation

4.1 Price/Earnings Ratio

CCL is valuated correctly with a Price/Earnings ratio of 14.31.
81.34% 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 26.34. CCL is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 10.96, which indicates a very decent valuation of CCL.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CCL indicates a rather cheap valuation: CCL is cheaper than 83.58% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, CCL is valued rather cheaply.
Industry RankSector Rank
PE 14.31
Fwd PE 10.96
CCL Price Earnings VS Forward Price EarningsCCL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CCL is valued a bit cheaper than 73.13% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CCL indicates a rather cheap valuation: CCL is cheaper than 80.60% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 15.6
EV/EBITDA 8.88
CCL Per share dataCCL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

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.
CCL's earnings are expected to grow with 22.21% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.39
PEG (5Y)N/A
EPS Next 2Y24.93%
EPS Next 3Y22.21%

0

5. Dividend

5.1 Amount

No dividends for CCL!.
Industry RankSector Rank
Dividend Yield N/A

CARNIVAL CORP

NYSE:CCL (6/18/2025, 8:04:00 PM)

Premarket: 23.55 -0.06 (-0.25%)

23.61

+0.33 (+1.42%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)03-21 2025-03-21/bmo
Earnings (Next)06-24 2025-06-24/amc
Inst Owners65.08%
Inst Owner Change7.64%
Ins Owners7.58%
Ins Owner Change0.28%
Market Cap30.98B
Analysts81.25
Price Target28.26 (19.7%)
Short Float %5.98%
Short Ratio2.62
Dividend
Industry RankSector 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)-0.82%
PT rev (3m)-5.23%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.55%
EPS NY rev (1m)0%
EPS NY rev (3m)5.78%
Revenue NQ rev (1m)0.11%
Revenue NQ rev (3m)0.22%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.2%
Valuation
Industry RankSector Rank
PE 14.31
Fwd PE 10.96
P/S 1.22
P/FCF 15.6
P/OCF 6.1
P/B 3.37
P/tB 4.16
EV/EBITDA 8.88
EPS(TTM)1.65
EY6.99%
EPS(NY)2.15
Fwd EY9.12%
FCF(TTM)1.51
FCFY6.41%
OCF(TTM)3.87
OCFY16.4%
SpS19.38
BVpS7
TBVpS5.67
PEG (NY)0.39
PEG (5Y)N/A
Profitability
Industry RankSector 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 RankSector 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 1.1
F-Score7
WACC7.24%
ROIC/WACC1.13
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 5Y18.18%
Revenue 1Y (TTM)12.66%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%7.47%
Revenue Next Year4.35%
Revenue Next 2Y4.01%
Revenue Next 3Y3.84%
Revenue Next 5Y4.02%
EBIT growth 1Y59.82%
EBIT growth 3YN/A
EBIT growth 5Y1.76%
EBIT Next Year91.3%
EBIT Next 3Y28.51%
EBIT Next 5Y18.23%
FCF growth 1Y159.2%
FCF growth 3YN/A
FCF growth 5Y94.16%
OCF growth 1Y7358.57%
OCF growth 3YN/A
OCF growth 5Y1.58%