(CCL) Carnival - Overview

Sector: Consumer Cyclical | Industry: Travel Services | Exchange: NYSE (USA) | Market Cap: 33.091m USD | Total Return: 14.9% in 12m

Cruises, Leisure Travel, Hospitality, Tours
Total Rating 38
Safety 54
Buy Signal 0.16
Travel Services
Industry Rotation: -9.1
Market Cap: 33.1B
Avg Turnover: 690M
Risk 3d forecast
Volatility51.6%
VaR 5th Pctl8.42%
VaR vs Median-0.96%
Reward TTM
Sharpe Ratio0.44
Rel. Str. IBD22.6
Rel. Str. Peer Group27.8
Character TTM
Beta1.730
Beta Downside1.877
Hurst Exponent0.564
Drawdowns 3y
Max DD42.85%
CAGR/Max DD0.83
CAGR/Mean DD2.49
EPS (Earnings per Share) EPS (Earnings per Share) of CCL over the last years for every Quarter: "2021-05": -1.8, "2021-08": -1.75, "2021-11": -1.72, "2022-02": -1.66, "2022-05": -1.64, "2022-08": -0.58, "2022-11": -0.85, "2023-02": -0.55, "2023-05": -0.31, "2023-08": 0.86, "2023-11": -0.07, "2024-02": -0.14, "2024-05": 0.11, "2024-08": 1.27, "2024-11": 0.14, "2025-02": -0.06, "2025-05": 0.42, "2025-08": 1.33, "2025-11": 0.34, "2026-02": 0.2,
Last SUE: 0.26
Qual. Beats: 0
Revenue Revenue of CCL over the last years for every Quarter: 2021-05: 49, 2021-08: 546, 2021-11: 1287, 2022-02: 1623, 2022-05: 2401, 2022-08: 4306, 2022-11: 3839, 2023-02: 4433, 2023-05: 4911, 2023-08: 6854, 2023-11: 5396, 2024-02: 5407, 2024-05: 5781, 2024-08: 7896, 2024-11: 5938, 2025-02: 5810, 2025-05: 6328, 2025-08: 8153, 2025-11: 6330, 2026-02: 6165,
Rev. CAGR: 14.46%
Rev. Trend: 92.7%
Last SUE: 0.50
Qual. Beats: 0

Warnings

Altman Z'' -0.18 < 1.0 - financial distress zone

Choppy Below Avwap Earnings

Tailwinds

No distinct edge detected

Description: CCL Carnival

Carnival Corporation (CCL) is a global leisure travel provider operating a multi-brand portfolio that includes Carnival Cruise Line, Princess Cruises, and Holland America Line. The company manages four primary segments covering North American and European cruise operations, alongside a Cruise Support and Tour infrastructure that includes proprietary port destinations, hotels, and rail transport. Founded in 1972 and headquartered in Miami, its distribution model relies on a mix of third-party travel agents and direct-to-consumer digital platforms.

The cruise industry is characterized by high capital intensity due to the significant cost of vessel construction and maintenance. As a dominant player in the Hotels, Resorts & Cruise Lines sub-industry, Carnival utilizes a hub-and-spoke business model where land-based excursions and private islands act as high-margin extensions of the onboard experience. Investors can evaluate these operational margins and debt structures further on ValueRay. This vertical integration allows the company to capture a larger share of total passenger discretionary spending throughout the vacation cycle.

Headlines to Watch Out For
  • Elevated fuel prices and maritime carbon emissions regulations increase operational overhead
  • Strong occupancy rates and booking volumes drive revenue growth across global brands
  • High debt service costs from pandemic-era financing impact net income margins
  • Consumer discretionary spending trends dictate demand for premium and luxury cruise segments
  • Geopolitical instability in key regions disrupts itinerary planning and increases insurance costs
Piotroski VR‑10 (Strict) 5.5
Net Income: 3.10b TTM > 0 and > 6% of Revenue
FCF/TA: 0.06 > 0.02 and ΔFCF/TA 1.70 > 1.0
NWC/Revenue: -33.72% < 20% (prev -33.83%; Δ 0.11% < -1%)
CFO/TA 0.13 > 3% & CFO 6.56b > Net Income 3.10b
Net Debt (25.18b) to EBITDA (7.23b): 3.48 < 3
Current Ratio: 0.27 > 1.5 & < 3
Outstanding Shares: last quarter (1.39b) vs 12m ago 6.34% < -2%
Gross Margin: 37.55% > 18% (prev 0.38%; Δ 3.72k% > 0.5%)
Asset Turnover: 53.90% > 50% (prev 52.38%; Δ 1.51% > 0%)
Interest Coverage Ratio: 3.54 > 6 (EBITDA TTM 7.23b / Interest Expense TTM 1.24b)
Altman Z'' -0.18
A: -0.18 (Total Current Assets 3.32b - Total Current Liabilities 12.42b) / Total Assets 51.57b
B: 0.09 (Retained Earnings 4.73b / Total Assets 51.57b)
C: 0.09 (EBIT TTM 4.40b / Avg Total Assets 50.05b)
D: 0.09 (Book Value of Equity 3.37b / Total Liabilities 38.52b)
Altman-Z'' Score: -0.18 = B
Beneish M -2.80
DSRI: 1.15 (Receivables 663.0m/543.0m, Revenue 26.98b/25.43b)
GMI: 1.02 (GM 37.55% / 38.25%)
AQI: 1.19 (AQ_t 0.06 / AQ_t-1 0.05)
SGI: 1.06 (Revenue 26.98b / 25.43b)
TATA: -0.07 (NI 3.10b - CFO 6.56b) / TA 51.57b)
Beneish M-Score: -2.80 (Cap -4..+1) = A
What is the price of CCL shares? As of May 21, 2026, the stock is trading at USD 26.03 with a total of 48,976,045 shares traded.
Over the past week, the price has changed by +4.63%, over one month by -9.72%, over three months by -18.13% and over the past year by +14.89%.
Is CCL a buy, sell or hold? Carnival has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy CCL.
  • StrongBuy: 17
  • Buy: 5
  • Hold: 8
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the CCL price?
Analysts Target Price 34.1 30.8%
Carnival (CCL) - Fundamental Data Overview as of 21 May 2026
P/E Trailing = 10.5242
P/E Forward = 11.2994
P/S = 1.2266
P/B = 2.8041
P/EG = 1.0847
Revenue TTM = 26.98b USD
EBIT TTM = 4.40b USD
EBITDA TTM = 7.23b USD
Long Term Debt = 23.79b USD (from longTermDebt, last quarter)
Short Term Debt = 1.67b USD (from shortTermDebt, last quarter)
Debt = 26.61b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 25.18b USD (from netDebt column, last quarter)
Enterprise Value = 58.27b USD (33.09b + Debt 26.61b - CCE 1.42b)
Interest Coverage Ratio = 3.54 (Ebit TTM 4.40b / Interest Expense TTM 1.24b)
EV/FCF = 19.52x (Enterprise Value 58.27b / FCF TTM 2.99b)
FCF Yield = 5.12% (FCF TTM 2.99b / Enterprise Value 58.27b)
FCF Margin = 11.07% (FCF TTM 2.99b / Revenue TTM 26.98b)
Net Margin = 11.48% (Net Income TTM 3.10b / Revenue TTM 26.98b)
Gross Margin = 37.55% ((Revenue TTM 26.98b - Cost of Revenue TTM 16.85b) / Revenue TTM)
Gross Margin QoQ = 36.11% (prev 26.75%)
Tobins Q-Ratio = 1.13 (Enterprise Value 58.27b / Total Assets 51.57b)
Interest Expense / Debt = 1.09% (Interest Expense 291.0m / Debt 26.61b)
Taxrate = 6.07% (17.0m / 280.0m)
NOPAT = 4.13b (EBIT 4.40b * (1 - 6.07%))
Current Ratio = 0.27 (Total Current Assets 3.32b / Total Current Liabilities 12.42b)
Debt / Equity = 2.04 (Debt 26.61b / totalStockholderEquity, last quarter 13.03b)
Debt / EBITDA = 3.48 (Net Debt 25.18b / EBITDA 7.23b)
Debt / FCF = 8.43 (Net Debt 25.18b / FCF TTM 2.99b)
Total Stockholder Equity = 11.81b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.19% (Net Income 3.10b / Total Assets 51.57b)
RoE = 26.22% (Net Income TTM 3.10b / Total Stockholder Equity 11.81b)
RoCE = 12.36% (EBIT 4.40b / Capital Employed (Equity 11.81b + L.T.Debt 23.79b))
RoIC = 10.81% (NOPAT 4.13b / Invested Capital 38.23b)
WACC = 7.15% (E(33.09b)/V(59.70b) * Re(12.07%) + D(26.61b)/V(59.70b) * Rd(1.09%) * (1-Tc(0.06)))
Discount Rate = 12.07% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.42 | Cagr: 4.42%
[DCF] Terminal Value 79.47% ; FCFF base≈2.59b ; Y1≈2.21b ; Y5≈1.70b
[DCF] Fair Price = 10.05 (EV 37.64b - Net Debt 25.18b = Equity 12.45b / Shares 1.24b; r=7.15% [WACC]; 5y FCF grow -17.88% → 3.0% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.26 | # QB: 0
Revenue Correlation: 92.72 | Revenue CAGR: 14.46% | SUE: 0.50 | # QB: 0
EPS current Quarter (2026-05-31): EPS=0.33 | Chg30d=+1.06% | Revisions=+33% | Analysts=18
EPS next Quarter (2026-08-31): EPS=1.42 | Chg30d=+0.13% | Revisions=+33% | Analysts=18
EPS current Year (2026-11-30): EPS=2.22 | Chg30d=-0.28% | Revisions=+0% | GrowthEPS=-1.3% | GrowthRev=+4.7%
EPS next Year (2027-11-30): EPS=2.60 | Chg30d=+0.13% | Revisions=+43% | GrowthEPS=+17.2% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: +43%