Stock Analysis
Carnival Corporation Ltd.CCL
P/E 11.31×· 5Y range 9.51–53.43×· bottom 9% of history
Sector: Consumer Cyclical · Industry: Travel Services
AnalystsStrong Buy33 analystsP/E 11.3× sits at the 9th percentile of its 5.089664613278576-year history.
Cash covers 6% of debt · Q1 2026.
PMP Verdict
Mixed fundamentals, cheap valuation
Strengths
- Profitability72
- Quality72
Risks
- Financial Health11
- Growth45
Mixed business trading cheap — priced for skepticism.
Market context
-2.1% today· Z 1.0σ
Bull Case
- ✓Piotroski F-Score 7/9 — high earnings quality
- ✓ROE 24.1% — efficient capital deployment
- ✓Revenue CAGR 93.3% — durable top-line growth
- ✓P/E 11.3× at bottom 9% of 5-year history
What's happening with CCL
Profile
Strong valuation; moat, financial health and growth lag behind.
How is each axis scored?
- Valuation95/100 · Strong
- P/E vs own history (9th pct)25/25
- FCF yield (9.1%)25/25
- P/S (1.3x)25/25
- EV/EBIT (12.9x)20/25
- Growth45/100 · Weak
- Revenue CAGR (93.3%)25/25
- Net income CAGR (n/a)0/25
- EPS CAGR 5Y (n/a)0/25
- Fwd implied growth (28.3%)20/25
- Profitability72/100 · Moderate
- ROIC (9.8%)12/25
- ROE (24.1%)20/25
- Net margin (11.4%)20/25
- Operating margin (16.0%)20/25
- Financial Health11/100 · Weak
- Altman Z (0.63)3/25
- Current ratio (0.30)0/25
- Interest coverage (0.6x)3/25
- Net cash / debt (D/A 43%)5/25
- Quality72/100 · Moderate
- Piotroski F (7/9)22/25
- Beneish M (-2.55)25/25
- FCF conversion (101%)25/25
- Margin stability (σ 1122.5%)0/25
- Moat10/100 · Weak
- ROIC >12% years (0/9 yrs)0/25
- Median gross margin (11.7%)0/25
- FCF-positive years (6/9 yrs)10/25
- Worst-year net margin (worst -498.0%)0/25
Risk Flags
- ⚠Altman Z 0.6 — distress-zone balance sheet
- ⚠4 loss-making years in recent history
- ⚠Interest coverage 0.6× — thin debt cushion
About Carnival Corporation Ltd.
Carnival is the largest global cruise company, with nearly 100 ships in service. Show more
Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe. It recently folded its P&O Australia brand into Carnival. The firm also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted nearly 14 million guests in 2025.
Headquarters: MIAMI, FL · Employees: 117,000 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
95A+P/E (TTM)11.3xA
Grade A: CheapPrice / TTM EPS (own statements) — vs own 5Y history: 9.5x–53.4x · 9th pct
P/FCF11.0xA
Grade A: CheapPrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative · Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
FCF Yield9.1%A
Grade A: ValueTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -104.7%–10.6% · 96th pct · Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
P/S (TTM)1.26xA
Grade A: CheapPrice / TTM Revenue (own statements) — vs own 5Y history: 0.7x–208.5x · 47th pct
EV/EBIT12.9xB
Grade B: FairEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 11.8x–113.8x · 15th pct
EV/Sales2.1xB
Grade B: FairEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E8.8xA
Grade A: CheapPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio2.67xA
Grade A: FairPrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio1.09B
Grade B: FairFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield1.77%A
Grade A: PaysTTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio22.8%A
Grade A: SafeDividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Elevated investment: Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
Profitability
72B+ROIC9.8%C
Grade C: AverageNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE24.1%A
Grade A: StrongReturn on Equity. Neg. equity = heavy buybacks
ROA6.1%C
Grade C: AverageReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin11.4%A
Grade A: HighNet Income / Revenue
Operating Margin16.0%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin54.6%A
Grade A: PremiumGross Profit / Revenue
FCF Margin11.5%C
Grade C: AverageFCF / Revenue · Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
True FCF Margin11.1%C
Grade C: AverageTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost · Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
Growth
45D+Revenue CAGR93.3%A
Grade A: HighCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR—
Compound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)—
Compound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth28.3%C
Grade C: MedAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)—
Share count change over 5Y
SBC / Net Income3.2%A
Grade A: LowStock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.4%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
11EAltman Z-Score0.63D
Grade D: DistressBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio0.30xD
Grade D: LowCurrent Assets/Liabilities
Quick Ratio0.15xD
Grade D: Low(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage0.6xD
Grade D: RiskyEBIT/Interest. >10 Strong
Debt Repayment7.0yC
Grade C: AverageYears to repay net debt via FCF · Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
Net Debt/EBIT5.1xD
Grade D: HighLeverage. <2x Low, >4x High
Debt/Equity1.83xC
Grade C: MedDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.06xD
Grade D: ThinCash covers how much of total debt. >1 = could repay all debt from cash
Quality
72B+Piotroski F-Score7/9A
Grade A: StrongFinancial strength 0–9. >7 Strong
Beneish M-Score-2.55A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion101.2%A
Grade A: StrongFCF / Net Income · Elevated investment — CapEx = 53% of operating cash flow, weighing on reported FCF
Margin Stability1122.5%D
Grade D: VolatileEBIT margin std deviation. Lower = stable
Capex / Revenue13.2%C
Grade C: AverageTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.53xC
Grade C: AverageRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
ARISON MICKY MEIR Filed | ARISON MICKY MEIR | Gift | +248.0K | |
ARISON MICKY MEIR Filed | ARISON MICKY MEIR | Gift | +91.0K | |
deynes bettina alejandra Filed | deynes bettina alejandra | SellOpen market sale | -43058 | |
Lahey Katie Filed | Lahey Katie | Tax withholding | -616 | |
cahilly jason glen Filed | cahilly jason glen | Tax withholding | -616 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Deeble Helen Filed | Deeble Helen | Tax withholding | -3625 | |
Gearhart Jeffrey J Filed | Gearhart Jeffrey J | Tax withholding | -616 | |
BAND SIR JONATHON Filed | BAND SIR JONATHON | Tax withholding | -3471 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
10EROIC >12% Years0/9 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)11.7%D
Grade D: WeakMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years6/9 yrsD
Grade D: WeakShare of completed fiscal years with positive free cash flow
Net Margin Floor-498.0%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$2.29
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$0.90
Cash & short-term investments per share (Finnhub)
Book Value / Share$10.49
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$23.79B
Total debt obligations (short + long term)
Cash & Equiv.$1.42B
Cash and short-term investments
Net Debt$22.36B
Total Debt minus Cash. Negative = Net Cash position
Total Equity$13.03B
Shareholders' equity (book value)
Asset / Liability1.34xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$34.73B
Current Market Capitalization
Beta2.49D
Grade D: High volatilityPrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Aug 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Carnival Corporation Ltd. (CCL)
CCL is down 2.12% at the last close. Carnival Corporation Ltd. meets 7 of 9 Piotroski F-Score criteria, placing its fundamental strength in the top tier of US-listed stocks. Altman Z-Score of 0.63 is below the 1.81 distress threshold — an elevated financial-risk flag. Beneish M-Score of -2.55 suggests a low likelihood of earnings manipulation. Revenue has compounded at roughly 93% annually — a strong growth profile.
- Takes ~7.0 years to repay net debt from free cash flow.
- Interest coverage of 0.6× leaves little room for earnings shocks.
- Carnival Corporation Ltd. posted a net loss in 4 of 9 available completed fiscal years (2016–2025).
- At a valuation score of 95/100, CCL trades near the cheapest end of its own historical range (P/E 11.3).
- Return on equity of 24.1% is well above the market average.
See how CCL ranks on the Capex Tracker — top 50 capital spenders compared.
Earnings
View earnings calendar →Recent Earnings Results
| Date | Time | EPS Est. | EPS Actual | Surprise | Rev Est. | Rev Actual |
|---|---|---|---|---|---|---|
| Sep 29, 2026 | Pre-Mkt | $1.37 | $1.43 | +4.4% | $8.4B | $8.4B |
Recent Market Moves
See all CCL moves →Frequently Asked Questions about CCL
What is the current Carnival Corporation Ltd. (CCL) stock price?
CCL is trading at $25.90 at the last market close, down 2.12% on the session. PreMarketPrice tracks CCL pre-market, intraday and after-hours prices.
Is CCL stock a buy right now?
PreMarketPrice's quantitative model rates Carnival Corporation Ltd.'s financial health at 11/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is CCL stock overvalued?
Carnival Corporation Ltd. trades at a trailing P/E of 11.3 and our valuation score rates it 95/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Carnival Corporation Ltd. report earnings?
No confirmed earnings date is currently scheduled for CCL. The Earnings section lists recent reports and updates as dates are announced.
What sector does Carnival Corporation Ltd. operate in?
Carnival Corporation Ltd. operates in the Consumer Cyclical sector, within the Travel Services industry. The Related Stocks section lists sector peers for comparison.
What does Carnival Corporation Ltd. do?
Carnival is the largest global cruise company, with nearly 100 ships in service.
About Carnival Corporation Ltd. (CCL) Stock
Carnival Corporation Ltd. (CCL) is a US-listed stock operating in the Consumer Cyclical sector, specifically the Travel Services industry. As of the latest update, Carnival Corporation Ltd. is trading at $25.90, down 2.12% on the day with a market capitalization of $34.7 billion. The financial health score for CCL is 11/100, which indicates poor financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for CCL stock.
CCL Stock Analysis & Key Metrics
On PreMarketPrice, you can track Carnival Corporation Ltd. (CCL) across multiple dimensions:
- Pre-market price & movement: Real-time CCL stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Earnings calendar: Upcoming and past earnings reports for CCL, including EPS estimates, actual results, and surprise percentages.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for CCL with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Carnival Corporation Ltd. across multiple reporting periods.
- Financial health score: A composite score of 11/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for CCL.
- Sector peers: Compare CCL against 6 other consumer cyclical stocks on key financial metrics.
Is CCL a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Carnival Corporation Ltd. (CCL) as an investment. The financial health score of 11/100 suggests poor financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average. Earnings data reveals whether the company is meeting or beating analyst expectations.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Carnival Corporation Ltd. (CCL) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.