We assign a fundamental rating of 5 out of 10 to CCL. CCL was compared to 132 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 is valued quite cheap, while showing a decent growth score. This is a good combination!

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

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.
The reported net income has been mixed in the past 5 years: CCL reported negative net income in multiple years.
In multiple years CCL reported negative operating cash flow during the last 5 years.

1.2 Ratios

With a decent Return On Assets value of 5.34%, CCL is doing good in the industry, outperforming 70.45% of the companies in the same industry.
CCL has a Return On Equity of 22.48%. This is amongst the best in the industry. CCL outperforms 80.30% of its industry peers.
CCL has a better Return On Invested Capital (9.18%) than 69.70% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CCL is below the industry average of 10.38%.
The last Return On Invested Capital (9.18%) for CCL is above the 3 year average (6.94%), which is a sign of increasing profitability.

		Industry Rank	Sector Rank
ROA	5.34%
ROE	22.48%
ROIC	9.18%

ROA(3y)3.03%

ROA(5y)-4.1%

ROE(3y)14.03%

ROE(5y)-24.47%

ROIC(3y)6.94%

ROIC(5y)N/A

1.3 Margins

The Profit Margin of CCL (10.37%) is better than 77.27% of its industry peers.
With a decent Operating Margin value of 16.84%, CCL is doing good in the industry, outperforming 75.00% of the companies in the same industry.
The Gross Margin of CCL (54.76%) is better than 65.15% of its industry peers.
CCL's Gross Margin has improved in the last couple of years.

		Industry Rank	Sector Rank
OM	16.84%
PM (TTM)	10.37%
GM	54.76%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y20.49%

GM growth 5Y29.69%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

CCL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for CCL has been increased compared to 1 year ago.
Compared to 5 years ago, CCL has more shares outstanding
Compared to 1 year ago, CCL has an improved debt to assets ratio.

2.2 Solvency

Based on the Altman-Z score of 1.33, we must say that CCL is in the distress zone and has some risk of bankruptcy.
CCL has a Altman-Z score of 1.33. This is comparable to the rest of the industry: CCL outperforms 43.18% of its industry peers.
CCL has a debt to FCF ratio of 10.22. This is a negative value and a sign of low solvency as CCL would need 10.22 years to pay back of all of its debts.
CCL has a Debt to FCF ratio of 10.22. This is comparable to the rest of the industry: CCL outperforms 59.85% of its industry peers.
A Debt/Equity ratio of 1.96 is on the high side and indicates that CCL has dependencies on debt financing.
With a Debt to Equity ratio value of 1.96, CCL perfoms like the industry average, outperforming 51.52% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	1.96
Debt/FCF	10.22
Altman-Z	1.33

ROIC/WACC1.23

WACC7.48%

2.3 Liquidity

A Current Ratio of 0.32 indicates that CCL may have some problems paying its short term obligations.
With a Current ratio value of 0.32, CCL is not doing good in the industry: 89.39% of the companies in the same industry are doing better.
A Quick Ratio of 0.28 indicates that CCL may have some problems paying its short term obligations.
The Quick ratio of CCL (0.28) is worse than 85.61% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	0.32
Quick Ratio	0.28

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 63.04% over the past year.
CCL shows a small growth in Revenue. In the last year, the Revenue has grown by 6.39%.
CCL shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 36.61% yearly.

EPS 1Y (TTM)63.04%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%142.86%

Revenue 1Y (TTM)6.39%

Revenue growth 3Y29.82%

Revenue growth 5Y36.61%

Sales Q2Q%6.6%

3.2 Future

CCL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.02% yearly.
CCL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.72% yearly.

EPS Next Y14.16%

EPS Next 2Y12.89%

EPS Next 3Y13.05%

EPS Next 5Y12.02%

Revenue Next Year4.43%

Revenue Next 2Y4.05%

Revenue Next 3Y4.13%

Revenue Next 5Y3.72%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 13.34, which indicates a correct valuation of CCL.
Based on the Price/Earnings ratio, CCL is valued cheaper than 84.09% of the companies in the same industry.
CCL's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.32.
A Price/Forward Earnings ratio of 11.69 indicates a reasonable valuation of CCL.
CCL's Price/Forward Earnings ratio is rather cheap when compared to the industry. CCL is cheaper than 84.85% of the companies in the same industry.
CCL is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.57, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	13.34
Fwd PE	11.69

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CCL is valued a bit cheaper than the industry average as 73.48% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, CCL is valued cheaper than 81.82% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	15.12
EV/EBITDA	8.82

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.
The decent profitability rating of CCL may justify a higher PE ratio.
CCL's earnings are expected to grow with 13.05% in the coming years. This may justify a more expensive valuation.

PEG (NY)0.94

PEG (5Y)N/A

EPS Next 2Y12.89%

EPS Next 3Y13.05%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.93%, CCL has a reasonable but not impressive dividend return.
CCL's Dividend Yield is a higher than the industry average which is at 1.25.
Compared to an average S&P500 Dividend Yield of 1.83, CCL has a dividend comparable with the average S&P500 company.

		Industry Rank	Sector Rank
Dividend Yield	1.93%

5.2 History

CCL has paid a dividend for at least 10 years, which is a reliable track record.

Dividend Growth(5Y)N/A

Div Incr Years0

Div Non Decr Years0

5.3 Sustainability

DP0%

EPS Next 2Y12.89%

EPS Next 3Y13.05%

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CARNIVAL CORP / CCL FAQ

What is the ChartMill fundamental rating of CARNIVAL CORP (CCL) stock?

ChartMill assigns a fundamental rating of 5 / 10 to CCL.

What is the valuation status of CARNIVAL CORP (CCL) stock?

ChartMill assigns a valuation rating of 8 / 10 to CARNIVAL CORP (CCL). This can be considered as Undervalued.

How profitable is CARNIVAL CORP (CCL) stock?

CARNIVAL CORP (CCL) has a profitability rating of 6 / 10.

Can you provide the PE and PB ratios for CCL stock?

The Price/Earnings (PE) ratio for CARNIVAL CORP (CCL) is 13.34 and the Price/Book (PB) ratio is 3.21.

Is the dividend of CARNIVAL CORP sustainable?

The dividend rating of CARNIVAL CORP (CCL) is 3 / 10 and the dividend payout ratio is 0%.