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CARNIVAL CORP (CCL) Stock Fundamental Analysis

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

25.6  -0.25 (-0.97%)

Premarket: 25.95 +0.35 (+1.37%)

Fundamental Rating

3

Taking everything into account, CCL scores 3 out of 10 in our fundamental rating. CCL was compared to 134 industry peers in the Hotels, Restaurants & Leisure industry. CCL has a medium profitability rating, but doesn't score so well on its financial health evaluation. CCL has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

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 each of the past 5 years.
In the past 5 years CCL reported 4 times negative operating cash flow.
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 0 5B -5B -10B

1.2 Ratios

CCL has a Return On Assets (3.14%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 18.20%, CCL is in the better half of the industry, outperforming 77.86% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 7.15%, CCL is in line with its industry, outperforming 58.02% of the companies in the same industry.
Industry RankSector 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
CCL Yearly ROA, ROE, ROICCCL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -20 -40 -60 -80

1.3 Margins

Looking at the Profit Margin, with a value of 6.39%, CCL is in the better half of the industry, outperforming 64.12% of the companies in the same industry.
CCL's Operating Margin of 13.88% is fine compared to the rest of the industry. CCL outperforms 63.36% of its industry peers.
In the last couple of years the Operating Margin of CCL has declined.
CCL has a Gross Margin of 51.97%. This is in the better half of the industry: CCL outperforms 61.07% of its industry peers.
In the last couple of years the Gross Margin of CCL has grown nicely.
Industry RankSector 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%
CCL Yearly Profit, Operating, Gross MarginsCCL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100 -200 -300 -400

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1

2. Health

2.1 Basic Checks

CCL has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
CCL has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
CCL Yearly Shares OutstandingCCL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 10B 20B 30B 40B 50B

2.2 Solvency

Based on the Altman-Z score of 1.04, we must say that CCL is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 1.04, CCL is not doing good in the industry: 68.70% of the companies in the same industry are doing better.
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.
With a Debt to FCF ratio value of 23.59, CCL perfoms like the industry average, outperforming 43.51% of the companies in the same 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 (3.10) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 3.1
Debt/FCF 23.59
Altman-Z 1.04
ROIC/WACC0.9
WACC7.97%
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 0 10B 20B 30B

2.3 Liquidity

A Current Ratio of 0.30 indicates that CCL may have some problems paying its short term obligations.
With a Current ratio value of 0.30, CCL is not doing good in the industry: 93.13% of the companies in the same industry are doing better.
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 has a worse Quick ratio (0.26) than 91.60% of its industry peers.
Industry RankSector Rank
Current Ratio 0.3
Quick Ratio 0.26
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 2B 4B 6B 8B 10B

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 2071.43% over the past year.
Measured over the past years, CCL shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -20.70% on average per year.
EPS 1Y (TTM)2071.43%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%300%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%10.02%

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 18.81% on average per year.
CCL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.73% yearly.
EPS Next Y27.43%
EPS Next 2Y21.6%
EPS Next 3Y19.87%
EPS Next 5Y18.81%
Revenue Next Year4.21%
Revenue Next 2Y4.06%
Revenue Next 3Y3.7%
Revenue Next 5Y3.73%

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.
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

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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 18.55, CCL is valued on the expensive side.
CCL's Price/Earnings ratio is a bit cheaper when compared to the industry. CCL is cheaper than 74.81% of the companies in the same industry.
CCL is valuated rather cheaply when we compare the Price/Earnings ratio to 28.29, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 14.56, the valuation of CCL can be described as correct.
CCL's Price/Forward Earnings ratio is rather cheap when compared to the industry. CCL is cheaper than 80.92% of the companies in the same industry.
CCL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.44.
Industry RankSector Rank
PE 18.55
Fwd PE 14.56
CCL Price Earnings VS Forward Price EarningsCCL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

CCL's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. CCL is cheaper than 68.70% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CCL indicates a somewhat cheap valuation: CCL is cheaper than 67.94% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 27.19
EV/EBITDA 10.28
CCL Per share dataCCL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

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.
CCL's earnings are expected to grow with 19.87% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.68
PEG (5Y)N/A
EPS Next 2Y21.6%
EPS Next 3Y19.87%

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0

5. Dividend

5.1 Amount

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

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CARNIVAL CORP

NYSE:CCL (1/21/2025, 8:04:00 PM)

Premarket: 25.95 +0.35 (+1.37%)

25.6

-0.25 (-0.97%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)12-20 2024-12-20/bmo
Earnings (Next)N/A N/A
Inst Owners62.09%
Inst Owner Change-0.13%
Ins Owners7.64%
Ins Owner Change-0.02%
Market Cap33.25B
Analysts80
Price Target28.08 (9.69%)
Short Float %5.9%
Short Ratio3.01
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
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)383.54%
Min EPS beat(2)8.2%
Max EPS beat(2)758.87%
EPS beat(4)4
Avg EPS beat(4)208.79%
Min EPS beat(4)8.2%
Max EPS beat(4)758.87%
EPS beat(8)8
Avg EPS beat(8)108.9%
EPS beat(12)8
Avg EPS beat(12)40.95%
EPS beat(16)8
Avg EPS beat(16)27.79%
Revenue beat(2)1
Avg Revenue beat(2)0.32%
Min Revenue beat(2)-0.1%
Max Revenue beat(2)0.75%
Revenue beat(4)2
Avg Revenue beat(4)0%
Min Revenue beat(4)-1.37%
Max Revenue beat(4)0.75%
Revenue beat(8)5
Avg Revenue beat(8)0.23%
Revenue beat(12)5
Avg Revenue beat(12)-5.3%
Revenue beat(16)5
Avg Revenue beat(16)-19.93%
PT rev (1m)11.15%
PT rev (3m)23.51%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.64%
EPS NY rev (1m)0%
EPS NY rev (3m)11.03%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.08%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.53%
Valuation
Industry RankSector Rank
PE 18.55
Fwd PE 14.56
P/S 1.36
P/FCF 27.19
P/OCF 5.61
P/B 3.87
P/tB 4.86
EV/EBITDA 10.28
EPS(TTM)1.38
EY5.39%
EPS(NY)1.76
Fwd EY6.87%
FCF(TTM)0.94
FCFY3.68%
OCF(TTM)4.57
OCFY17.84%
SpS18.84
BVpS6.62
TBVpS5.27
PEG (NY)0.68
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.14%
ROE 18.2%
ROCE 9.05%
ROIC 7.15%
ROICexc 7.45%
ROICexgc 7.83%
OM 13.88%
PM (TTM) 6.39%
GM 51.97%
FCFM 5%
ROA(3y)-9.92%
ROA(5y)-8.44%
ROE(3y)-55.18%
ROE(5y)-40.71%
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-12.64%
ROICexc growth 3YN/A
ROICexc growth 5Y-11.2%
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%
F-Score7
Asset Turnover0.49
Health
Industry RankSector Rank
Debt/Equity 3.1
Debt/FCF 23.59
Debt/EBITDA 4.52
Cap/Depr 188.81%
Cap/Sales 19.24%
Interest Coverage 250
Cash Conversion 100.68%
Profit Quality 78.15%
Current Ratio 0.3
Quick Ratio 0.26
Altman-Z 1.04
F-Score7
WACC7.97%
ROIC/WACC0.9
Cap/Depr(3y)172.41%
Cap/Depr(5y)186.02%
Cap/Sales(3y)81.62%
Cap/Sales(5y)67.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2071.43%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%300%
EPS Next Y27.43%
EPS Next 2Y21.6%
EPS Next 3Y19.87%
EPS Next 5Y18.81%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%10.02%
Revenue Next Year4.21%
Revenue Next 2Y4.06%
Revenue Next 3Y3.7%
Revenue Next 5Y3.73%
EBIT growth 1Y291.02%
EBIT growth 3YN/A
EBIT growth 5Y-10.07%
EBIT Next Year240.77%
EBIT Next 3Y58.45%
EBIT Next 5Y33.67%
FCF growth 1Y119.83%
FCF growth 3YN/A
FCF growth 5Y-11.14%
OCF growth 1Y408.8%
OCF growth 3YN/A
OCF growth 5Y-5.06%