CCL

Carnival Corporation

$27.06

+2.31% Oct 20 close

Consumer DiscretionaryS&P 500

1M 3M 6M 1Y 2Y

CCLSPY

+1.2%

+23.9%

+4.0%

+0.0%

YTD

-10.0%

-4.7%

Live chart

Loading live chart…

What they do

Carnival Corporation Ltd., a cruise company, provides leisure travel services. The company operates through four segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations and islands, as well as owns and operates hotels, lodges, glass-domed railcars, and motorcoaches.

Consumer Cyclical · Travel Services

For information only · Important disclosures

Grades vs sector

Momentum

38th percentile in sector

C-

12-1 return: -13.5%
Percentile within its GICS sector across the S&P 1500.

Growth

47th percentile in sector

Revenue growth (YoY): +3.5%
Percentile within its GICS sector across the S&P 1500.

Value

76th percentile in sector

B+

Forward E/P: 9.9% · EBITDA/EV: 12.4%
Percentile within its GICS sector across the S&P 1500.

Profitability

69th percentile in sector

Profit margin: +11.4% · Return on equity: +24.0%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth

Outside this model's universe or screens

Momentum Top 15

ranked 428 of 499 · 12-month momentum -16.0%

Momentum Blend

Not in the current book

New Highs Growth

Outside this model's universe or screens

Coteau Long Book

Not in the current book

News

More news

Cruise Stocks Rally While Energy Shares Slip: Norwegian, Royal Caribbean and Carnival Rise 3%

24/7 Wall St. · Oct 20

Key stats

52-week range$21.79 – $33.45

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Looks undervalued

Model read-out from the numbers below, not advice. Score +3 (DCF counts double).

▲DCF (base case)above the price by 414%

▲Piotroski F-score8/9

•Net debt / EBITDA3.1x

Discounted cash flow

Bear

$52

+90%

growth 18% · disc. 10.2% · term. 2.0%

Base

$139

+414%

growth 30% · disc. 9.2% · term. 2.5%

Bull

$280

+936%

growth 37% · disc. 8.2% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Not enough data to run a reverse DCF.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-08-31). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.00 (n/a) × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Consumer Discretionary

P/E (trailing)

sector median 17.7×

–

Forward P/E

sector median 13.4×

–

EV / EBITDA

sector median 11.3×

–

Price / sales

sector median 1.2×

–

Price / book

sector median 2.8×

–

FCF yield

sector median 6.6%

–

Quality & financial health

Gross margin

42.5%

Operating margin

16.0%

FCF margin

11.5%

Net margin

11.4%

Return on equity

22.1%

Return on invested capital

11.8%

Net debt / EBITDA

3.1×

Current ratio

0.3×

Interest cover

3.7×

Cash conversion (OCF/NI)

2.2×

Piotroski F-score 8/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Analysts

No analyst targets available.

Annual history

FY	Revenue	Net income	Free cash flow
2025	$26.6B	$2.8B	$2.6B
2024	$25.0B	$1.9B	$1.3B
2023	$21.6B	$-74.0M	$997.0M
2022	$12.2B	$-6.1B	$-6.6B
2021	$1.9B	$-9.5B	$-7.7B
2020	$5.6B	$-10.2B	$-9.9B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +29.8%.

Earnings

Next report: 2026-12-18 · before open · EPS est 0.22

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-09-29	1.35	1.43	+5.9%
2026-06-23	0.34	0.41	+21.1%
2026-03-27	0.18	0.20	+8.9%
2025-12-19	0.25	0.34	+38.6%
2025-09-29	1.32	1.43	+8.5%
2025-06-24	0.24	0.35	+45.3%
2025-03-21	0.02	0.13	+485.1%
2024-12-20	0.07	0.14	+94.0%

Insider trades

None

None · None

SELL
–

Stats refreshed 2026-10-20 17:54:47 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

COTEAU

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

How it works Disclaimer Terms Privacy Data status Send feedback

Beta 0.9 · Oct 21, 2026

CCL