Carnival Corp

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CCL : NYSE : Services
$67.0 -0.58 | -0.86%
Today's Range: 66.94 - 67.56
Avg. Daily Volume: 2991500.0
07/21/17 - 4:04 PM ET

Financial Analysis

CARNIVAL CORP/PLC (USA)'s gross profit margin for the second quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased. CARNIVAL CORP/PLC (USA) has very weak liquidity. Currently, the Quick Ratio is 0.10 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has remained unchanged from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)3945.03706.0
EBITDA ($mil)957.0918.0
EBIT ($mil)500.0480.0
Net Income ($mil)378.0605.0

Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)597.0519.0
Total Assets ($mil)40451.039851.0
Total Debt ($mil)9418.09429.0
Equity ($mil)22964.022791.0

Profitability Q2 FY17 Q2 FY16
Gross Profit Margin38.2839.07
EBITDA Margin24.2524.77
Operating Margin12.6712.95
Sales Turnover0.410.4
Return on Assets6.825.6
Return on Equity12.029.79
Debt Q2 FY17 Q2 FY16
Current Ratio0.20.2
Interest Expense57.064.0
Interest Coverage8.777.5

Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)724.0745.0
Div / share0.40.35
Book value / share31.7230.59
Institutional Own % n/a n/a
Avg Daily Volume3038878.03217064.0


BUY. The current P/E ratio indicates a significant discount compared to an average of 37.44 for the Hotels, Restaurants & Leisure industry and a discount compared to the S&P 500 average of 24.41. To use another comparison, its price-to-book ratio of 2.09 indicates a discount versus the S&P 500 average of 3.04 and a significant discount versus the industry average of 10.74. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, CARNIVAL CORP/PLC (USA) proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
CCL 17.60 Peers 37.44   CCL 8.93 Peers 19.39

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

CCL is trading at a significant discount to its peers.


Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

CCL is trading at a significant discount to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
CCL 15.35 Peers 25.06   CCL 24.44 Peers 3.01

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

CCL is trading at a significant discount to its peers.


Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

CCL trades at a significant premium to its peers.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
CCL 2.09 Peers 10.74   CCL 30.10 Peers 114.10

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

CCL is trading at a significant discount to its peers.


Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, CCL is expected to significantly trail its peers on the basis of its earnings growth rate.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
CCL 2.86 Peers 3.43   CCL 5.12 Peers 4.03

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

CCL is trading at a discount to its industry on this measurement.


Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

CCL has a sales growth rate that significantly exceeds its peers.



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