CARNIVAL CORP (CCL) Stock Fundamental Analysis
NYSE:CCL - New York Stock Exchange, Inc. - PA1436583006 - Common Stock - Currency: USD
CCL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 133 industry peers in the Hotels, Restaurants & Leisure industry. There are concerns on the financial health of CCL while its profitability can be described as average. A decent growth rate in combination with a cheap valuation! Better keep an eye on CCL.
1. Profitability
1.1 Basic Checks
CCL had positive earnings in the past year.
CCL had a positive operating cash flow in the past year.
In the past 5 years CCL reported 4 times negative net income.
In multiple years CCL reported negative operating cash flow during the last 5 years.
1.2 Ratios
CCL has a Return On Assets of 4.94%. This is in the better half of the industry: CCL outperforms 68.42% of its industry peers.
Looking at the Return On Equity, with a value of 25.23%, CCL belongs to the top of the industry, outperforming 81.95% of the companies in the same industry.
The Return On Invested Capital of CCL (8.71%) is better than 69.17% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.94% | ||
| ROE | 25.23% | ||
| ROIC | 8.71% |
ROA(3y)-2.68%
ROA(5y)-8.99%
ROE(3y)-22.2%
ROE(5y)-38.93%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
With a decent Profit Margin value of 9.72%, CCL is doing good in the industry, outperforming 73.68% of the companies in the same industry.
CCL's Profit Margin has declined in the last couple of years.
CCL has a Operating Margin of 16.23%. This is in the better half of the industry: CCL outperforms 69.92% of its industry peers.
In the last couple of years the Operating Margin of CCL has declined.
With a decent Gross Margin value of 53.90%, CCL is doing good in the industry, outperforming 63.16% of the companies in the same industry.
CCL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 16.23% | ||
| PM (TTM) | 9.72% | ||
| GM | 53.9% |
OM growth 3YN/A
OM growth 5Y-1.91%
PM growth 3YN/A
PM growth 5Y-11.81%
GM growth 3YN/A
GM growth 5Y6.74%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), CCL is creating some value.
Compared to 1 year ago, CCL has more shares outstanding
CCL has more shares outstanding than it did 5 years ago.
The debt/assets ratio for CCL has been reduced compared to a year ago.
2.2 Solvency
CCL has an Altman-Z score of 1.22. This is a bad value and indicates that CCL is not financially healthy and even has some risk of bankruptcy.
CCL has a worse Altman-Z score (1.22) than 60.15% of its industry peers.
CCL has a debt to FCF ratio of 9.71. This is a negative value and a sign of low solvency as CCL would need 9.71 years to pay back of all of its debts.
The Debt to FCF ratio of CCL (9.71) is better than 61.65% of its industry peers.
A Debt/Equity ratio of 2.58 is on the high side and indicates that CCL has dependencies on debt financing.
With a Debt to Equity ratio value of 2.58, CCL perfoms like the industry average, outperforming 46.62% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.58 | ||
| Debt/FCF | 9.71 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.2
WACC7.25%
2.3 Liquidity
CCL has a Current Ratio of 0.34. 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 Current ratio of 0.34. This is amonst the worse of the industry: CCL underperforms 85.71% of its industry peers.
CCL has a Quick Ratio of 0.34. This is a bad value and indicates that CCL is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.30, CCL is doing worse than 81.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.34 | ||
| Quick Ratio | 0.3 |
3. Growth
3.1 Past
CCL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 148.68%, which is quite impressive.
The earnings per share for CCL have been decreasing by -20.70% on average. This is quite bad
The Revenue has grown by 10.82% in the past year. This is quite good.
The Revenue has been growing slightly by 3.74% on average over the past years.
EPS 1Y (TTM)148.68%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%218.18%
Revenue 1Y (TTM)10.82%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%9.46%
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 18.18% on average per year.
The Revenue is expected to grow by 4.02% on average over the next years.
EPS Next Y37.72%
EPS Next 2Y25.77%
EPS Next 3Y22.16%
EPS Next 5Y18.18%
Revenue Next Year4.49%
Revenue Next 2Y4.12%
Revenue Next 3Y3.94%
Revenue Next 5Y4.02%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 15.85, the valuation of CCL can be described as correct.
81.20% of the companies in the same industry are more expensive than CCL, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of CCL to the average of the S&P500 Index (27.45), we can say CCL is valued slightly cheaper.
Based on the Price/Forward Earnings ratio of 13.73, the valuation of CCL can be described as correct.
Based on the Price/Forward Earnings ratio, CCL is valued a bit cheaper than 78.95% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.90. CCL is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.85 | ||
| Fwd PE | 13.73 |
4.2 Price Multiples
74.44% of the companies in the same industry are more expensive than CCL, based on the Enterprise Value to EBITDA ratio.
CCL's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CCL is cheaper than 87.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14 | ||
| EV/EBITDA | 9.32 |
4.3 Compensation for Growth
The 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 22.16% in the coming years.
PEG (NY)0.42
PEG (5Y)N/A
EPS Next 2Y25.77%
EPS Next 3Y22.16%
5. Dividend
5.1 Amount
CCL does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
29.96
+0.31 (+1.05%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners65.08%
Inst Owner Change7.64%
Ins Owners7.58%
Ins Owner Change0.28%
Market Cap39.31B
Analysts81.94
Price Target29.02 (-3.14%)
Short Float %5.71%
Short Ratio2.51
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
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)287.29%
Min EPS beat(2)42.71%
Max EPS beat(2)531.88%
EPS beat(4)4
Avg EPS beat(4)166.46%
Min EPS beat(4)8.2%
Max EPS beat(4)531.88%
EPS beat(8)8
Avg EPS beat(8)188.29%
EPS beat(12)11
Avg EPS beat(12)103.13%
EPS beat(16)11
Avg EPS beat(16)70.73%
Revenue beat(2)2
Avg Revenue beat(2)0.49%
Min Revenue beat(2)0.05%
Max Revenue beat(2)0.93%
Revenue beat(4)2
Avg Revenue beat(4)0%
Min Revenue beat(4)-0.88%
Max Revenue beat(4)0.93%
Revenue beat(8)5
Avg Revenue beat(8)0.18%
Revenue beat(12)7
Avg Revenue beat(12)-0.92%
Revenue beat(16)7
Avg Revenue beat(16)-5.53%
PT rev (1m)1.85%
PT rev (3m)-2.52%
EPS NQ rev (1m)0.95%
EPS NQ rev (3m)0.54%
EPS NY rev (1m)1.04%
EPS NY rev (3m)2.86%
Revenue NQ rev (1m)0.11%
Revenue NQ rev (3m)0.05%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)0.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.85 | ||
| Fwd PE | 13.73 | ||
| P/S | 1.51 | ||
| P/FCF | 14 | ||
| P/OCF | 7.23 | ||
| P/B | 3.93 | ||
| P/tB | 4.77 | ||
| EV/EBITDA | 9.32 |
EPS(TTM)1.89
EY6.31%
EPS(NY)2.18
Fwd EY7.29%
FCF(TTM)2.14
FCFY7.14%
OCF(TTM)4.14
OCFY13.82%
SpS19.79
BVpS7.63
TBVpS6.29
PEG (NY)0.42
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.94% | ||
| ROE | 25.23% | ||
| ROCE | 11.02% | ||
| ROIC | 8.71% | ||
| ROICexc | 9.23% | ||
| ROICexgc | 9.7% | ||
| OM | 16.23% | ||
| PM (TTM) | 9.72% | ||
| GM | 53.9% | ||
| FCFM | 10.81% |
ROA(3y)-2.68%
ROA(5y)-8.99%
ROE(3y)-22.2%
ROE(5y)-38.93%
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-0.03%
ROICexc growth 3YN/A
ROICexc growth 5Y1.43%
OM growth 3YN/A
OM growth 5Y-1.91%
PM growth 3YN/A
PM growth 5Y-11.81%
GM growth 3YN/A
GM growth 5Y6.74%
F-Score8
Asset Turnover0.51
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.58 | ||
| Debt/FCF | 9.71 | ||
| Debt/EBITDA | 3.76 | ||
| Cap/Depr | 98.91% | ||
| Cap/Sales | 10.11% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 79.09% | ||
| Profit Quality | 111.21% | ||
| Current Ratio | 0.34 | ||
| Quick Ratio | 0.3 | ||
| Altman-Z | 1.22 |
F-Score8
WACC7.25%
ROIC/WACC1.2
Cap/Depr(3y)178.87%
Cap/Depr(5y)171.94%
Cap/Sales(3y)24.77%
Cap/Sales(5y)65.61%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)148.68%
EPS 3YN/A
EPS 5Y-20.7%
EPS Q2Q%218.18%
EPS Next Y37.72%
EPS Next 2Y25.77%
EPS Next 3Y22.16%
EPS Next 5Y18.18%
Revenue 1Y (TTM)10.82%
Revenue growth 3Y135.82%
Revenue growth 5Y3.74%
Sales Q2Q%9.46%
Revenue Next Year4.49%
Revenue Next 2Y4.12%
Revenue Next 3Y3.94%
Revenue Next 5Y4.02%
EBIT growth 1Y48.24%
EBIT growth 3YN/A
EBIT growth 5Y1.76%
EBIT Next Year91.3%
EBIT Next 3Y28.51%
EBIT Next 5Y18.23%
FCF growth 1Y215.65%
FCF growth 3YN/A
FCF growth 5Y94.16%
OCF growth 1Y411.29%
OCF growth 3YN/A
OCF growth 5Y1.58%