Carnival Corp

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CCL : NYSE : Services
$63.36 | %
Today's Range: 62.83 - 63.45
Avg. Daily Volume: 3249400.0
05/26/17 - 4:01 PM ET

Financial Analysis


CARNIVAL CORP/PLC (USA)'s gross profit margin for the first quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. 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 Q1 FY17 Q1 FY16
Net Sales ($mil)3791.03651.0
EBITDA ($mil)807.0857.0
EBIT ($mil)368.0434.0
Net Income ($mil)352.0142.0


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)437.0778.0
Total Assets ($mil)38703.038446.0
Total Debt ($mil)9092.09068.0
Equity ($mil)22660.022625.0


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin35.7738.56
EBITDA Margin21.2823.47
Operating Margin9.7111.89
Sales Turnover0.430.41
Return on Assets7.724.81
Return on Equity13.198.17
Debt Q1 FY17 Q1 FY16
Current Ratio0.210.28
Debt/Capital0.290.29
Interest Expense57.060.0
Interest Coverage6.467.23


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)726.0755.0
Div / share0.350.3
EPS0.480.18
Book value / share31.2129.97
Institutional Own % n/a n/a
Avg Daily Volume3347964.03340722.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 35.64 for the Hotels, Restaurants & Leisure industry and a discount compared to the S&P 500 average of 25.02. To use another comparison, its price-to-book ratio of 1.96 indicates a discount versus the S&P 500 average of 3.00 and a significant discount versus the industry average of 11.22. 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.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
CCL 15.11 Peers 35.64   CCL 8.36 Peers 20.48

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.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
CCL 14.40 Peers 25.23   CCL NM Peers 1.60

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.

 

Neutral. 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's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
CCL 1.96 Peers 11.22   CCL 69.74 Peers 121.72

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.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
CCL 2.68 Peers 3.30   CCL 4.38 Peers 4.21

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.

 

Average. Comparing a company's sales growth to its industry helps to determine if the company is adding or losing market share.

CCL is keeping pace with its peers on the basis of sales growth.

 

 

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