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Earnings transcript
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CCL
Carnival Corporation & plc
$26.11
-0.97
(-3.58%)
| Exchange: | NYSE |
| Market Cap: | 35.108B |
| Shares Outstanding: | 434.296M |
Delayed data
About The Company
| Sector: | Consumer CyclicalView sector performance | |||||
| Industry: | Travel ServicesView industry performance | |||||
| CEO: | Joshua Ian Weinstein | |||||
| Full Time Employees: | 160000 | |||||
| Address: |
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| Website: | https://www.carnivalcorp.com |
Carnival Corporation & plc operates as a prominent global entity in the leisure travel sector. Its extensive fleet of vessels navigates to nearly 700 different ports globally, sailing under a diverse portfolio of acclaimed brands such as Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK), and Cunard. Beyond its core cruise operations, the company also provides port services and other related offerings. Its holdings include and it manages hotels, lodges, unique glass-domed railcars, and motor coaches. Customers primarily book their cruises through a network of travel agencies, tour operators, vacation planners, and direct online channels. The corporation maintains a broad international presence, with operations spanning the United States, Canada, continental Europe, the United Kingdom, Australia, New Zealand, Asia, and other global markets. It commands a significant fleet of 87 ships, collectively providing capacity for 223,000 passengers in lower berths. Carnival Corporation & plc was established in 1972 and has its headquarters situated in Miami, Florida.
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Revenue Segmentation
CCL full analysis
Hey everyone, welcome back to the channel where we break down stocks like we're chatting over coffee about what's really worth your hard-earned money. Today we're diving deep into Carnival Corporation, ticker CCL, the big player in the cruise world that's been riding a wave of recovery but just took a hit after its latest earnings. We'll cover everything from the business basics to the numbers, valuation, and what it all means for investors right now. Let's get into it.…
Industry Peers
| TICKER | COMPANY | MKT CAP | P/E | FWD P/E | ROIC |
|---|---|---|---|---|---|
| CCL | Carnival Corporation & plc | 35.1B | 11.3 | 11.6 | 10.8% |
 VIK | Viking Holdings Ltd | 36.7B | 27.1 | 25.5 | 20.1% |
 EXPE | Expedia Group, Inc. | 33.1B | 17.3 | 13.7 | 25.9% |
 TCOM | Trip.com Group Limited | 26.4B | 7.3 | 11.1 | 4.4% |
 NCLH | Norwegian Cruise Line Holdings Ltd. | 6.9B | 9.0 | 9.8 | 8.0% |
 TNL | Travel + Leisure Co. | 4.0B | 17.4 | 8.6 | 7.9% |
EPS
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Earnings Call
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Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 21,593,000 | 25,021,000 | 26,622,000 |
| Gross Profit | 7,276,000 | 9,383,000 | 7,885,000 |
| EBITDA | 4,374,000 | 6,227,000 | 6,911,000 |
| Operating Income | 1,956,000 | 3,574,000 | 4,483,000 |
| Net Income | -74,000 | 1,916,000 | 2,760,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 49,120,000 | 49,057,000 | 51,687,000 |
| Total Liabilities | 42,238,000 | 39,806,000 | 39,404,000 |
| Total Stockholders Equity | 6,882,000 | 9,252,000 | 12,284,000 |
| Total Debt | 31,891,000 | 28,876,000 | 27,993,000 |
| Cash and Cash Equivalents | 2,415,000 | 1,210,000 | 1,928,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 4,281,000 | 5,923,000 | 6,218,000 |
| Capital Expenditure | -3,284,000 | -4,626,000 | -3,611,000 |
| Free Cash Flow | 997,000 | 1,297,000 | 2,607,000 |
| Net Income | -74,000 | 0 | 2,760,000 |
| Net Change in Cash | -3,601,000 | -1,204,000 | 718,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 31,496,310.645 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 32,170,420.794 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 31,782,000 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 16,709,900.482 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 16,889,498.457 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 16,786,016.659 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 5,085,208.223 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 5,227,090.623 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 5,145,340.003 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 10,009,504.878 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 10,223,736.599 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 10,100,296.750 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 3.670 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 3.730 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 3.630 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 9 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 3 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Q1 2025 financial results reported in the earnings call, including positive revenue and profitability trends that exceeded internal expectations.
- Demonstrated strategic foresight in operational execution, supporting improved free cash flow generation and balance sheet stability.
- Forward P/E ratios indicate reasonable valuation relative to projected earnings growth, with sector outperformance in recent performance metrics.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates CCL intrinsic value between $47.55 – $52.21 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about CCL valuation
Is Carnival Corporation & plc (CCL) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Carnival Corporation & plc (CCL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is CCL a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CCL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is CCL’s P/E ratio?
You can see CCL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for CCL?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is CCL a good long-term investment?
Whether CCL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
CCL
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Daily snapshot
-3.58
Trading Metrics:
| Open: | 26.5 | Previous Close: | 27.08 | |
| Day Low: | 25.86 | Day High: | 26.5 | |
| Year Low: | 21.45 | Year High: | 34.03 | |
| Price Avg 50: | 24.79 | Price Avg 200: | 27.19 | |
| Volume: | 17.342M | Average Volume: | 21.446M |
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