Stocktoria

Carnival Corp Ltd. CCL

NYSE · stock · Water Transportation · website · IPO 1987-07-31

Carnival Corp Ltd. statistics & valuation

Market cap$40.2B
P / E14.6×
P / S1.5×
P / B3.3×
P / FCF15.4×
Net margin10.4%
Return on equity22.5%
FCF margin9.8%
Net debt$25.5B
Net debt / EBITDA3.5×
Enterprise value USD$65.7B
EV / EBITDA9×
Earnings yield EBIT/EV6.8%
Return on capital11.6%
Graham number -27.9%$19.96

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($19.96); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
17.00% 14.90% 16.70% 14.40% -182.90% -498.00% -50.10% -0.30% 7.70% 10.40% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
18.70% 16.00% 17.60% 15.70% -158.40% -371.50% -36.00% 9.10% 14.30% 16.80% 2016201720182019202020212022202320242025
Return on equity (%)
12.30% 10.80% 12.90% 11.80% -49.80% -78.20% -86.20% -1.10% 20.70% 22.50% 2016201720182019202020212022202320242025
Shares outstanding
747.0M 725.0M 710.0M 692.0M 775.0M 1.12B 1.18B 1.26B 1.40B 1.40B 2016201720182019202020212022202320242025
Net debt ($)
$7.70B $6.60B $6.92B $9.16B $12.62B $19.57B $31.59B $28.92B $27.00B $25.45B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
7.10% 6.40% 7.40% 6.60% -19.10% -17.80% -11.80% -0.20% 3.90% 5.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
12.60% 13.60% 9.50% 0.20% -177.30% -404.40% -54.30% 4.60% 5.20% 9.80% 2016201720182019202020212022202320242025
Debt / equity (×)
0.37× 0.29× 0.32× 0.38× 1.08× 2.35× 5.04× 4.55× 3.05× 2.23× 2016201720182019202020212022202320242025
EPS ($)
$3.72 $3.59 $4.44 $4.32 -$13.20 -$8.46 -$5.16 -$0.06 $1.44 $2.02 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Carnival Corp Ltd. trades at about 13.7× earnings — below its 10-year norm (10-year range 11.1×–29.5×, median 18.5×).

11.1× 29.5×

Shaded band = 10-year range (11.1×–29.5×); dot = today's 13.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin16.8%14.3%9.1%-36.0%-371.5%-158.4%15.7%17.6%16.0%18.7%
Net margin10.4%7.7%-0.3%-50.1%-498.0%-182.9%14.4%16.7%14.9%17.0%
FCF margin9.8%5.2%4.6%-54.3%-404.4%-177.3%0.2%9.5%13.6%12.6%
Return on assets5.3%3.9%-0.2%-11.8%-17.8%-19.1%6.6%7.4%6.4%7.1%
Return on equity22.5%20.7%-1.1%-86.2%-78.2%-49.8%11.8%12.9%10.8%12.3%
Debt / equity2.23×3.05×4.55×5.04×2.35×1.08×0.38×0.32×0.29×0.37×
Current ratio0.320.290.460.710.971.220.230.240.180.24

Computed from company filings · US · as of 2025-11-30. Facts plus Stocktoria's own computed scores — not investment advice.