(CCL) Carnival - Overview

Sector: Consumer Cyclical | Industry: Travel Services | Exchange: NYSE (USA) | Market Cap: 38.576m USD | Total Return: 60.9% in 12m

Cruises, Travel, Destinations, Hotels, Transport
Total Rating 49
Safety 54
Buy Signal 0.30
Travel Services
Industry Rotation: +18.6
Market Cap: 38.6B
Avg Turnover: 640M USD
ATR: 4.90%
Peers RS (IBD): 44.6
Risk 5d forecast
Volatility48.2%
Rel. Tail Risk-10.9%
Reward TTM
Sharpe Ratio1.21
Alpha11.09
Character TTM
Beta1.722
Beta Downside2.601
Drawdowns 3y
Max DD42.85%
CAGR/Max DD1.03
EPS (Earnings per Share) EPS (Earnings per Share) of CCL over the last years for every Quarter: "2021-02": -1.79, "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,
EPS CAGR: 182.95%
EPS Trend: 70.5%
Last SUE: 0.26
Qual. Beats: 0
Revenue Revenue of CCL over the last years for every Quarter: 2021-02: 26, 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: 28.59%
Rev. Trend: 75.7%
Last SUE: 0.50
Qual. Beats: 0

Warnings

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

Tailwinds

No distinct edge detected

Description: CCL Carnival

Carnival Corporation (CCL) is a global leisure travel company, primarily operating cruises. The companys revenue streams are diversified across North America, Australia, and Europe.

CCL operates under multiple brand names, including Carnival Cruise Line and Princess Cruises. Beyond cruises, the company also manages port destinations, hotels, and other travel-related assets. The cruise industry business model relies on booking future voyages and onboard spending.

Distribution channels for cruise sales include travel agents, tour operators, and direct online sales. For further in-depth analysis, consider researching Carnivals financials on ValueRay.

Headlines to Watch Out For
  • Fuel price volatility impacts operating costs
  • Geopolitical events disrupt cruise itineraries and bookings
  • Consumer discretionary spending directly affects ticket sales
  • Health crises severely reduce passenger demand
  • Regulatory changes increase compliance expenses
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 April 16, 2026, the stock is trading at USD 28.82 with a total of 18,593,840 shares traded.
Over the past week, the price has changed by +2.82%, over one month by +16.59%, over three months by -1.65% and over the past year by +60.85%.
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 35 21.3%
Carnival (CCL) - Fundamental Data Overview as of 11 April 2026
P/E Trailing = 12.2687
P/E Forward = 10.9769
P/S = 1.43
P/B = 2.7254
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 = 63.76b USD (38.58b + Debt 26.61b - CCE 1.42b)
Interest Coverage Ratio = 3.54 (Ebit TTM 4.40b / Interest Expense TTM 1.24b)
EV/FCF = 21.35x (Enterprise Value 63.76b / FCF TTM 2.99b)
FCF Yield = 4.68% (FCF TTM 2.99b / Enterprise Value 63.76b)
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 = 1.24 (Enterprise Value 63.76b / 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 = 7.57% (E(38.58b)/V(65.18b) * Re(12.09%) + D(26.61b)/V(65.18b) * Rd(1.09%) * (1-Tc(0.06)))
Discount Rate = 12.09% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.25%
[DCF] Terminal Value 77.68% ; FCFF base≈2.59b ; Y1≈2.21b ; Y5≈1.70b
[DCF] Fair Price = 7.31 (EV 34.24b - Net Debt 25.18b = Equity 9.05b / Shares 1.24b; r=7.57% [WACC]; 5y FCF grow -17.88% → 3.0% )
EPS Correlation: 70.52 | EPS CAGR: 183.0% | SUE: 0.26 | # QB: 0
Revenue Correlation: 75.70 | Revenue CAGR: 28.59% | SUE: 0.50 | # QB: 0
EPS next Quarter (2026-05-31): EPS=0.34 | Chg7d=-0.064 | Chg30d=-0.145 | Revisions Net=-16 | Analysts=16
EPS current Year (2026-11-30): EPS=2.23 | Chg7d=-0.005 | Chg30d=-0.302 | Revisions Net=-21 | Growth EPS=-0.9% | Growth Revenue=+4.7%
EPS next Year (2027-11-30): EPS=2.61 | Chg7d=+0.001 | Chg30d=-0.207 | Revisions Net=-22 | Growth EPS=+17.2% | Growth Revenue=+3.6%
[Analyst] Revisions Ratio: -1.00 (0 Up / 16 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 3.9% (Discount Rate 12.1% - Earnings Yield 8.2%)
[Growth] Growth Spread = +1.7% (Analyst 5.6% - Implied 3.9%)
External Resources
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