CCL Stock Analysis: Carnival | NYSE
Travel Services | NYSE, USA | Market Cap: 44.132m USD | 12M Return: 0.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 716M
Qual. Beats: 0
Rev. Trend: 95.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Carnival Corporation (NYSE: CCL) is a leisure travel and cruise company operating across North America, Australia, Europe, and other international markets. Founded in 1972 and headquartered in Miami, Florida, the company is organized into four reporting segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other.
Carnival employs a multi-brand strategy, offering cruise vacations under nine separate brands: AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn. This brand diversification is a common approach in the cruise industry, allowing operators to address a range of price points and customer demographics while preserving distinct brand identities.
Beyond its core cruise operations, Carnival operates its own port destinations and islands, and owns hotels, lodges, glass-domed railcars, and motorcoaches, reflecting the vertical integration typical of large cruise operators. The company distributes its cruises through travel agents, tour operators, vacation planners, proprietary websites, and onboard future cruise consultants.
- European cruise segment outpaces North America on Mediterranean demand
- Fuel costs and currency swings pressure operating margins
- Balance sheet deleveraging accelerates ahead of new ship deliveries
| Net Income: 3.07b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 0.64 > 1.0 |
| NWC/Revenue: -32.74% < 20% (prev -33.00%; Δ 0.26% < -1%) |
| CFO/TA 0.13 > 3% & CFO 6.79b > Net Income 3.07b |
| Net Debt (25.2b) to EBITDA (7.16b): 3.53 < 3 |
| Current Ratio: 0.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.39b) vs 12m ago -0.86% < -2% |
| Gross Margin: 34.43% > 18% (prev 39.21%; Δ -4.79% > 0.5%) |
| Asset Turnover: 52.83% > 50% (prev 50.76%; Δ 2.07% > 0%) |
| Interest Coverage Ratio: 3.62 > 6 (EBIT TTM 4.29b / Interest Expense TTM 1.19b) |
| A: -0.17 (Total Current Assets 4.49b - Total Current Liabilities 13.4b) / Total Assets 52.2b |
| B: 0.10 (Retained Earnings 5.00b / Total Assets 52.2b) |
| C: 0.08 (EBIT TTM 4.29b / Avg Total Assets 51.7b) |
| D: 0.33 (Book Value of Equity 13.0b / Total Liabilities 39.2b) |
| Altman-Z'' = 0.09 = B |
| DSRI: 1.06 (Receivables 633.0m/569.0m, Revenue 27.3b/26.0b) |
| GMI: 1.14 (GM 39.21% / 34.43%) |
| AQI: 1.04 (AQ_t 0.05 / AQ_t-1 0.05) |
| SGI: 1.05 (Revenue 27.3b / 26.0b) |
| TATA: -0.07 (NI 3.07b - CFO 6.79b) / TA 52.2b) |
| Beneish M = -2.80 (Cap -4..+1) = A |
As of July 02, 2026, the stock is trading at USD 28.52 with a total of 17,907,061 shares traded. Over the past week, the price has changed by -1.35%, over one month by +3.67%, over three months by +7.96% and over the past year by +0.65%.
Current recommended Stop Loss: 26.20 (which is 8.1% or 1.8 ATR below the current price).
Carnival has received a consensus analysts rating of 4.46. Therefore, it is recommended to buy CCL.
- StrongBuy: 18
- Buy: 5
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 35.6 | 25% |
P/E Trailing = 13.0946
P/E Forward = 13.089
P/S = 1.6159
P/B = 3.4034
P/EG = 1.1786
Revenue TTM = 27.3b USD
EBIT TTM = 4.29b USD
EBITDA TTM = 7.16b USD
Long Term Debt = 24.0b USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.64b USD (from shortTermDebt, last quarter)
Debt = 27.5b USD (from shortLongTermDebtTotal, last quarter) + Leases 1.32b
Net Debt = 25.2b USD (calculated: Debt 27.5b - CCE 2.24b)
Enterprise Value = 69.4b USD (44.1b + Debt 27.5b - CCE 2.24b)
Interest Coverage Ratio = 3.62 (Ebit TTM 4.29b / Interest Expense TTM 1.19b)
EV/FCF = 21.68x (Enterprise Value 69.4b / FCF TTM 3.20b)
FCF Yield = 4.61% (FCF TTM 3.20b / Enterprise Value 69.4b)
FCF Margin = 11.72% (FCF TTM 3.20b / Revenue TTM 27.3b)
Net Margin = 11.24% (Net Income TTM 3.07b / Revenue TTM 27.3b)
Gross Margin = 34.43% ((Revenue TTM 27.3b - Cost of Revenue TTM 17.9b) / Revenue TTM)
Gross Margin QoQ = 25.74% (prev 36.11%)
Tobins Q-Ratio = 1.33 (Enterprise Value 69.4b / Total Assets 52.2b)
Interest Expense / Debt = 4.32% (Interest Expense 1.19b / Debt 27.5b)
Taxrate = 0.43% (12.0m / 2.77b)
NOPAT = 4.28b (EBIT 4.29b * (1 - 0.43%))
Current Ratio = 0.33 (Total Current Assets 4.49b / Total Current Liabilities 13.4b)
Debt / Equity = 2.12 (Debt 27.5b / totalStockholderEquity, last quarter 13.0b)
Debt / EBITDA = 3.53 (Net Debt 25.2b / EBITDA 7.16b)
Debt / FCF = 7.89 (Net Debt 25.2b / FCF TTM 3.20b)
Total Stockholder Equity = 12.6b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.94% (Net Income 3.07b / Total Assets 52.2b)
RoE = 24.45% (Net Income TTM 3.07b / Total Stockholder Equity 12.6b)
RoCE = 11.74% (EBIT 4.29b / Capital Employed (Equity 12.6b + L.T.Debt 24.0b))
RoIC = 10.94% (NOPAT 4.28b / Invested Capital 39.1b)
WACC = 9.22% (E(44.1b)/V(71.6b) * Re(12.28%) + D(27.5b)/V(71.6b) * Rd(4.32%) * (1-Tc(0.00)))
Discount Rate = 12.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 35.96 | Cagr: 4.25%
[DCF] Terminal Value 75.05% ; FCFF base≈3.04b ; Y1≈3.46b ; Y5≈4.99b
[DCF] Fair Price = 29.15 (EV 65.2b - Net Debt 25.2b = Equity 40.0b / Shares 1.37b; r=9.22% [WACC]; 5y FCF grow 14.04% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.76 | # QB: 0
Revenue Correlation: 95.44 | Revenue CAGR: 10.78% | SUE: -0.66 | # QB: 0
EPS current Quarter (2026-08-31): EPS=1.36 | Chg30d=-4.40% | Revisions=+25% | Analysts=19
EPS current Year (2026-11-30): EPS=2.24 | Chg30d=+0.75% | Revisions=+43% | GrowthEPS=-0.5% | GrowthRev=+4.0%
EPS next Year (2027-11-30): EPS=2.65 | Chg30d=+1.77% | Revisions=+11% | GrowthEPS=+18.1% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: +43%