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Carnival Corporation Ltd. logo

Carnival Corporation Ltd.

CCL

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Summary Carnival Corporation was incorporated in Panama in 1974 and Carnival plc was incorporated in England and Wales in 2000. Carnival Corporation and Carnival plc operate a dual listed company whereby the businesses of Carnival Corporation and Carnival plc are combined through a number of contracts and through provisions in Carnival Corporation's Articles of Incorporation and By-Laws and Car…

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$38.77B
EPS$2.31
P/E12.48
P/FCF12.21
EV/EBITDA8.57
FCF Yield8.2%
Div. Yield–
Net Debt/FCF7.5x
Carnival Corporation Ltd. intrinsic value
52-Week Range
$21.79$33.99

Profitability & Returns

Revenue (TTM)

$27.59B

▲ +6.4% YoY

Net Income (TTM)

$3.14B

▲ +44.1% YoY

Op. Margin

15.99%

▲ +2.6pp YoY

ROIC

11.06%

▲ +4.1pp YoY

Cash Flow & Balance Sheet

FCF (TTM)

$3.18B

▲ +101.0% YoY

Op. Cash Flow (TTM)

$6.82B

▲ +5.0% YoY

Net Debt

$23.94B

Cash & Equiv.

$1.22B

5Y CAGR: +36.6%

Continue Research

Peers

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Held by ETFs

CCL is in 244 US ETFs. The largest of them, with CCL's weight in each:

Carnival Corporation (CCL) in four numbers

Fair value (earnings)
$21.95
Price $28.83 is 31% above it.
Intrinsic Value
Quality score
74/100
Best check: revenue growth, 22.7%. Weakest: net debt, $23.94B.
Quality
Dividend
None
Last paid in 2020, nothing since.
Dividends
P/E
12.48
Price to free cash flow 12.21.
Financials

Questions about Carnival Corporation

Is Carnival Corporation (CCL) overvalued?

At $28.83, Carnival Corporation's price is 31% above the $21.95 a share fair value that Intrinsiqq's calculator gets from its earnings. It trades at 12.48 times earnings and 12.21 times free cash flow. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is Carnival Corporation's fair value?

Intrinsiqq's calculator puts Carnival Corporation's fair value at $21.95 a share. It grows earnings per share 0% a year for 5 years, applies an exit P/E of 15.3, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of $16.46. Every input can be changed on the Intrinsic Value tab.

Is Carnival Corporation a high-quality business?

Carnival Corporation scores 74 out of 100 on Intrinsiqq's quality score, which makes it a solid business on these measures. The score blends 8 checks computed from SEC filings. Its best check is revenue growth at 22.7%, and its weakest is net debt at $23.94B. The Quality tab shows every check against its target.

Does Carnival Corporation (CCL) pay a dividend?

No. Carnival Corporation (CCL) does not currently pay a dividend. The last payment in our data was in 2020, and nothing has been paid since. Nor has its share count fallen meaningfully over the last twelve months, so cash is kept in the business. The Dividends tab shows its cash returns.

Source: 10-Q filed 22 Sept 2026 (period ending 31 Aug 2026), SEC. Price: last close 30 Oct 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

Spot a number that looks wrong? Check it in CCL's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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