CARNIVAL CORP (CCL)
PA1436583006 - Common Stock
We assign a fundamental rating of 3 out of 10 to CCL. CCL was compared to 135 industry peers in the Hotels, Restaurants & Leisure industry. While CCL is still in line with the averages on profitability rating, there are concerns on its financial health. CCL has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
CCL had positive earnings in the past year.
In the past year CCL had a positive cash flow from operations.
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
The Return On Assets of CCL (3.14%) is comparable to the rest of the industry.
CCL's Return On Equity of 18.20% is fine compared to the rest of the industry. CCL outperforms 76.87% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.15%, CCL is in line with its industry, outperforming 58.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.14% | ||
| ROE | 18.2% | ||
| ROIC | 7.15% |
ROA(3y)-9.92%
ROA(5y)-8.44%
ROE(3y)-55.18%
ROE(5y)-40.71%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
CCL's Profit Margin of 6.39% is fine compared to the rest of the industry. CCL outperforms 64.93% of its industry peers.
CCL has a Operating Margin of 13.88%. This is in the better half of the industry: CCL outperforms 63.43% of its industry peers.
In the last couple of years the Operating Margin of CCL has declined.
The Gross Margin of CCL (51.97%) is better than 60.45% of its industry peers.
In the last couple of years the Gross Margin of CCL has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.88% | ||
| PM (TTM) | 6.39% | ||
| GM | 51.97% |
OM growth 3YN/A
OM growth 5Y-12.45%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y49.2%
GM growth 5Y3.73%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CCL is destroying value.
Compared to 1 year ago, CCL has more shares outstanding
Compared to 5 years ago, CCL has more shares outstanding
CCL has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.03, we must say that CCL is in the distress zone and has some risk of bankruptcy.
CCL has a worse Altman-Z score (1.03) than 64.93% of its industry peers.
The Debt to FCF ratio of CCL is 23.59, which is on the high side as it means it would take CCL, 23.59 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of CCL (23.59) is comparable to the rest of the industry.
CCL has a Debt/Equity ratio of 3.10. This is a high value indicating a heavy dependency on external financing.
CCL has a Debt to Equity ratio of 3.10. This is comparable to the rest of the industry: CCL outperforms 49.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.1 | ||
| Debt/FCF | 23.59 | ||
| Altman-Z | 1.03 |
ROIC/WACC0.89
WACC8%
2.3 Liquidity
CCL has a Current Ratio of 0.30. 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 Current ratio of CCL (0.30) is worse than 93.28% of its industry peers.
CCL has a Quick Ratio of 0.30. 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 0.26 is on the low side compared to the rest of the industry. CCL is outperformed by 91.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.26 |
3. Growth
3.1 Past
CCL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 237.65%, which is quite impressive.
CCL shows a strong growth in Revenue. In the last year, the Revenue has grown by 22.18%.
The Revenue has been growing slightly by 2.72% on average over the past years.
EPS 1Y (TTM)237.65%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%47.67%
Revenue 1Y (TTM)22.18%
Revenue growth 3Y56.86%
Revenue growth 5Y2.72%
Sales Q2Q%15.2%
3.2 Future
CCL is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 106.28% yearly.
Based on estimates for the next years, CCL will show a small growth in Revenue. The Revenue will grow by 6.05% on average per year.
EPS Next Y2008.97%
EPS Next 2Y417.94%
EPS Next 3Y212.83%
EPS Next 5Y106.28%
Revenue Next Year16.3%
Revenue Next 2Y10.19%
Revenue Next 3Y7.89%
Revenue Next 5Y6.05%
3.3 Evolution
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
CCL is valuated rather expensively with a Price/Earnings ratio of 21.67.
CCL's Price/Earnings ratio is a bit cheaper when compared to the industry. CCL is cheaper than 70.90% of the companies in the same industry.
When comparing the Price/Earnings ratio of CCL to the average of the S&P500 Index (28.96), we can say CCL is valued slightly cheaper.
The Price/Forward Earnings ratio is 14.59, which indicates a correct 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 81.34% of the companies listed in the same industry.
CCL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.67 | ||
| Fwd PE | 14.59 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CCL is valued a bit cheaper than the industry average as 66.42% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, CCL is valued a bit cheaper than the industry average as 68.66% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.92 | ||
| EV/EBITDA | 10.17 |
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 212.83% in the coming years.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y417.94%
EPS Next 3Y212.83%
5. Dividend
5.1 Amount
No dividends for CCL!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
CARNIVAL CORP
NYSE:CCL (11/21/2024, 6:15:43 PM)
After market: 25.34 -0.01 (-0.04%)25.35
+0.27 (+1.08%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap32.93B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.67 | ||
| Fwd PE | 14.59 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)0.01
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.14% | ||
| ROE | 18.2% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 13.88% | ||
| PM (TTM) | 6.39% | ||
| GM | 51.97% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.49
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.1 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.26 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)237.65%
EPS 3YN/A
EPS 5Y
EPS Q2Q%
EPS Next Y2008.97%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)22.18%
Revenue growth 3Y56.86%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y