Carnival Corp

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CCL : NYSE : Services
$59.62 up 0.75 | 1.3%
Today's Range: 59.0 - 60.24
Avg. Daily Volume: 2907900.0
03/28/17 - 2:22 PM ET

Financial Analysis


CARNIVAL CORP/PLC (USA)'s gross profit margin for the fourth quarter of its fiscal year 2016 is essentially unchanged 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 0.13 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 virtually unchanged only decreasing by 4.93% 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 Q4 FY16 Q4 FY15
Net Sales ($mil)3935.03711.0
EBITDA ($mil)1032.0934.0
EBIT ($mil)597.0514.0
Net Income ($mil)608.0270.0


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)603.01395.0
Total Assets ($mil)38936.039237.0
Total Debt ($mil)9454.08787.0
Equity ($mil)22597.023771.0


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin41.0740.23
EBITDA Margin26.2225.16
Operating Margin15.1713.85
Sales Turnover0.420.4
Return on Assets7.134.47
Return on Equity12.297.39
Debt Q4 FY16 Q4 FY15
Current Ratio0.240.35
Debt/Capital0.30.27
Interest Expense60.056.0
Interest Coverage9.959.18


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)726.0772.0
Div / share0.350.3
EPS0.830.35
Book value / share31.1330.79
Institutional Own % n/a n/a
Avg Daily Volume2870950.04066334.0

Valuation


BUY. CARNIVAL CORP/PLC (USA)'s P/E ratio indicates a significant discount compared to an average of 38.13 for the Hotels, Restaurants & Leisure industry and a significant discount compared to the S&P 500 average of 26.33. To use another comparison, its price-to-book ratio of 1.88 indicates a discount versus the S&P 500 average of 2.93 and a significant discount versus the industry average of 9.42. 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 15.65 Peers 38.13   CCL 8.28 Peers 16.34

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 14.07 Peers 23.78   CCL NM Peers 2.82

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 1.88 Peers 9.42   CCL 65.48 Peers 79.35

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 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 2.59 Peers 3.24   CCL 4.29 Peers 2.81

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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