CARNIVAL CORP (CCL)
PA1436583006 - Common Stock
We assign a fundamental rating of 3 out of 10 to CCL. CCL was compared to 134 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 correct valuation and a medium growth rate.
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 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: CCL reported negative operating cash flow in multiple years.
1.2 Ratios
CCL has a Return On Assets (3.14%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 18.20%, CCL is in the better half of the industry, outperforming 77.61% of the companies in the same industry.
CCL has a Return On Invested Capital (7.15%) which is comparable to the rest of the 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 has a Profit Margin of 6.39%. This is in the better half of the industry: CCL outperforms 64.18% of its industry peers.
Looking at the Operating Margin, with a value of 13.88%, CCL is in the better half of the industry, outperforming 64.18% of the companies in the same industry.
CCL's Operating Margin has declined in the last couple of years.
CCL has a Gross Margin (51.97%) which is comparable to the rest of the industry.
CCL's Gross Margin has improved in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CCL is destroying value.
CCL has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, CCL has more shares outstanding
The debt/assets ratio for CCL has been reduced compared to a year ago.
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.
The Altman-Z score of CCL (1.04) is worse than 64.93% of its industry peers.
CCL has a debt to FCF ratio of 23.59. This is a negative value and a sign of low solvency as CCL would need 23.59 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 23.59, CCL is in line with its industry, outperforming 44.78% 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's Debt to Equity ratio of 3.10 is in line compared to the rest of the industry. CCL outperforms 48.51% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.1 | ||
| Debt/FCF | 23.59 | ||
| Altman-Z | 1.04 |
ROIC/WACC0.9
WACC7.97%
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.
With a Current ratio value of 0.30, CCL is not doing good in the industry: 93.28% 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.
With a Quick ratio value of 0.26, CCL is not doing good in the industry: 91.79% of the companies in the same industry are doing better.
| 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.
Looking at the last year, CCL shows a very strong growth in Revenue. 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
Based on estimates for the next years, CCL will show a very strong growth in Earnings Per Share. The EPS will grow by 110.93% on average per year.
CCL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.98% yearly.
EPS Next Y2008.97%
EPS Next 2Y418.01%
EPS Next 3Y212.83%
EPS Next 5Y110.93%
Revenue Next Year16.3%
Revenue Next 2Y10.19%
Revenue Next 3Y7.89%
Revenue Next 5Y5.98%
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
A Price/Earnings ratio of 22.91 indicates a rather expensive valuation of CCL.
Based on the Price/Earnings ratio, CCL is valued a bit cheaper than 67.16% of the companies in the same industry.
When comparing the Price/Earnings ratio of CCL to the average of the S&P500 Index (27.73), we can say CCL is valued inline with the index average.
With a Price/Forward Earnings ratio of 15.42, CCL is valued correctly.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CCL indicates a rather cheap valuation: CCL is cheaper than 80.60% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of CCL to the average of the S&P500 Index (22.83), we can say CCL is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.91 | ||
| Fwd PE | 15.42 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CCL is valued a bit cheaper than the industry average as 67.91% of the companies are valued more expensively.
CCL's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. CCL is cheaper than 68.66% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 28.46 | ||
| EV/EBITDA | 10.19 |
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 212.83% in the coming years.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y418.01%
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 (12/20/2024, 8:04:00 PM)
After market: 26.8101 +0.01 (+0.04%)26.8
+1.62 (+6.43%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners52.36%
Inst Owner Change1.54%
Ins Owners6.66%
Ins Owner Change-0.02%
Market Cap34.81B
Analysts80
Price Target25.27 (-5.71%)
Short Float %6.28%
Short Ratio2.9
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/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)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)4.2%
PT rev (3m)12.81%
EPS NQ rev (1m)6.32%
EPS NQ rev (3m)112.1%
EPS NY rev (1m)0%
EPS NY rev (3m)10.77%
Revenue NQ rev (1m)-0.02%
Revenue NQ rev (3m)2.89%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.91 | ||
| Fwd PE | 15.42 | ||
| P/S | 1.42 | ||
| P/FCF | 28.46 | ||
| P/OCF | 5.87 | ||
| P/B | 4.05 | ||
| P/tB | 5.09 | ||
| EV/EBITDA | 10.19 |
EPS(TTM)1.17
EY4.37%
EPS(NY)1.74
Fwd EY6.49%
FCF(TTM)0.94
FCFY3.51%
OCF(TTM)4.57
OCFY17.04%
SpS18.84
BVpS6.62
TBVpS5.27
PEG (NY)0.01
PEG (5Y)N/A
Profitability
| Industry Rank | Sector 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 Rank | Sector 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)237.65%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%47.67%
EPS Next Y2008.97%
EPS Next 2Y418.01%
EPS Next 3Y212.83%
EPS Next 5Y110.93%
Revenue 1Y (TTM)22.18%
Revenue growth 3Y56.86%
Revenue growth 5Y2.72%
Sales Q2Q%15.2%
Revenue Next Year16.3%
Revenue Next 2Y10.19%
Revenue Next 3Y7.89%
Revenue Next 5Y5.98%
EBIT growth 1Y291.02%
EBIT growth 3YN/A
EBIT growth 5Y-10.07%
EBIT Next Year239.55%
EBIT Next 3Y57.55%
EBIT Next 5Y33.3%
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%