CARNIVAL CORPORATION Financials Carnival Corporation Deutsche Boerse AG
Equities
CVC1
PA1436583006
Hotels, Motels & Cruise Lines
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 17.29 EUR | +0.23% |
|
+15.92% | +2.86% |
| 06-27 | Jefferies Adjusts Carnival Price Target to $26 From $25, Maintains Buy Rating | MT |
| 06-27 | Carnival's Strong Q2 Results Highlight Balance Sheet Improvement, Growth Prospects, BofA Says | MT |
Valuation
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 31,440 | 21,353 | 19,649 | 12,293 | 18,785 | 23,039 | - | - |
| Enterprise Value (EV) 1 | 42,424 | 38,796 | 43,936 | 42,810 | 46,942 | 50,275 | 48,085 | 45,330 |
| P/E ratio | 10.4 x | -1.51 x | -2.08 x | -1.92 x | -251 x | 17.6 x | 12.5 x | 10.8 x |
| Yield | 4.44% | 2.5% | - | - | - | - | - | 0.09% |
| Capitalization / Revenue | 1.51 x | 3.82 x | 10.3 x | 1.01 x | 0.87 x | 0.93 x | 0.89 x | 0.86 x |
| EV / Revenue | 2.04 x | 6.93 x | 23 x | 3.52 x | 2.17 x | 2.03 x | 1.85 x | 1.7 x |
| EV / EBITDA | 7.8 x | -5.86 x | -9.05 x | -20.3 x | 11.1 x | 8.63 x | 7.56 x | 6.79 x |
| EV / FCF | -31.6 x | -3.91 x | -5.69 x | -6.48 x | 47.5 x | 27.8 x | 15.8 x | 10.3 x |
| FCF Yield | -3.16% | -25.6% | -17.6% | -15.4% | 2.11% | 3.6% | 6.31% | 9.7% |
| Price to Book | 1.23 x | 0.75 x | 1.65 x | 1.77 x | 2.77 x | 2.86 x | 2.47 x | 1.91 x |
| Nbr of stocks (in thousands) | 709,616 | 1,086,548 | 1,131,464 | 1,258,272 | 1,265,705 | 1,267,121 | - | - |
| Reference price 2 | 45.08 | 19.98 | 17.62 | 9.930 | 15.06 | 18.61 | 18.61 | 18.61 |
| Announcement Date | 20/12/19 | 26/01/21 | 20/12/21 | 21/12/22 | 21/12/23 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 20,825 | 5,595 | 1,908 | 12,168 | 21,593 | 24,730 | 25,977 | 26,710 |
| EBITDA 1 | 5,436 | -6,624 | -4,856 | -2,104 | 4,231 | 5,828 | 6,365 | 6,680 |
| EBIT 1 | 3,276 | -8,865 | -7,089 | -4,379 | 1,956 | 3,325 | 3,703 | 3,901 |
| Operating Margin | 15.73% | -158.45% | -371.54% | -35.99% | 9.06% | 13.44% | 14.25% | 14.6% |
| Earnings before Tax (EBT) 1 | 3,060 | -10,253 | -9,522 | -6,080 | -62 | 1,555 | 2,116 | 2,397 |
| Net income 1 | 2,990 | -10,236 | -9,501 | -6,093 | -74 | 1,457 | 2,053 | 2,389 |
| Net margin | 14.36% | -182.95% | -497.96% | -50.07% | -0.34% | 5.89% | 7.9% | 8.95% |
| EPS 2 | 4.320 | -13.20 | -8.460 | -5.160 | -0.0600 | 1.056 | 1.485 | 1.723 |
| Free Cash Flow 1 | -1,341 | -9,921 | -7,716 | -6,610 | 989 | 1,809 | 3,036 | 4,397 |
| FCF margin | -6.44% | -177.32% | -404.4% | -54.32% | 4.58% | 7.32% | 11.69% | 16.46% |
| FCF Conversion (EBITDA) | - | - | - | - | 23.38% | 31.04% | 47.7% | 65.82% |
| FCF Conversion (Net income) | - | - | - | - | - | 124.13% | 147.87% | 184.01% |
| Dividend per Share 2 | 2.000 | 0.5000 | - | - | - | - | - | 0.0167 |
| Announcement Date | 20/12/19 | 26/01/21 | 20/12/21 | 21/12/22 | 21/12/23 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: November | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,287 | 1,623 | 2,401 | 4,305 | 3,839 | 4,432 | 4,911 | 6,854 | 5,397 | 5,406 | 5,781 | 7,813 | 5,855 | 5,646 | 6,087 |
| EBITDA 1 | -1,341 | -937 | -901 | 302 | -567 | 382 | 681 | 2,221 | 946 | 871 | 1,197 | 2,669 | 1,126 | 1,026 | 1,342 |
| EBIT 1 | -1,893 | -1,491 | -1,473 | -279 | -1,135 | -172 | 120 | 1,624 | 384 | 276 | 560 | 2,010 | 456.9 | 332.6 | 657 |
| Operating Margin | -147.09% | -91.87% | -61.35% | -6.48% | -29.56% | -3.88% | 2.44% | 23.69% | 7.12% | 5.11% | 9.69% | 25.72% | 7.8% | 5.89% | 10.79% |
| Earnings before Tax (EBT) 1 | -2,624 | -1,888 | -1,831 | -759 | -1,601 | -686 | -402 | 1,065 | -39 | -214 | 96 | 1,599 | 73.23 | - | - |
| Net income 1 | -2,620 | -1,891 | -1,834 | -770 | -1,598 | -693 | -407 | 1,074 | -48 | -214 | 92 | 1,582 | 73.48 | -23.38 | 200 |
| Net margin | -203.57% | -116.51% | -76.38% | -17.89% | -41.63% | -15.64% | -8.29% | 15.67% | -0.89% | -3.96% | 1.59% | 20.24% | 1.25% | -0.41% | 3.29% |
| EPS 2 | -2.310 | -1.660 | -1.610 | -0.6500 | -1.270 | -0.5500 | -0.3200 | 0.7900 | -0.0400 | -0.1700 | 0.0700 | 1.130 | 0.0574 | -0.0200 | 0.1500 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 20/12/21 | 22/03/22 | 24/06/22 | 30/09/22 | 21/12/22 | 27/03/23 | 26/06/23 | 29/09/23 | 21/12/23 | 27/03/24 | 25/06/24 | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 10,984 | 17,443 | 24,287 | 30,517 | 28,157 | 27,237 | 25,046 | 22,291 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.021 x | -2.633 x | -5.001 x | -14.5 x | 6.655 x | 4.674 x | 3.935 x | 3.337 x |
| Free Cash Flow 1 | -1,341 | -9,921 | -7,716 | -6,610 | 989 | 1,809 | 3,036 | 4,397 |
| ROE (net income / shareholders' equity) | 12.2% | -25.2% | -48.5% | -57.3% | 0.01% | 19.7% | 21.6% | 20.1% |
| ROA (Net income/ Total Assets) | 6.95% | -11.7% | -14.8% | -10.5% | 0% | 3.05% | 4.09% | 4.85% |
| Assets 1 | 42,996 | 87,159 | 64,053 | 58,102 | -3,737,374 | 47,712 | 50,202 | 49,242 |
| Book Value Per Share 2 | 36.80 | 26.50 | 10.70 | 5.610 | 5.440 | 6.520 | 7.550 | 9.740 |
| Cash Flow per Share 2 | 7.910 | -8.130 | -3.660 | -1.420 | 3.390 | 3.720 | 3.710 | 3.920 |
| Capex 1 | 5,429 | 3,620 | 3,607 | 4,940 | 3,284 | 4,262 | 2,825 | 1,951 |
| Capex / Sales | 26.07% | 64.7% | 189.05% | 40.6% | 15.21% | 17.23% | 10.87% | 7.3% |
| Announcement Date | 20/12/19 | 26/01/21 | 20/12/21 | 21/12/22 | 21/12/23 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
28
Last Close Price
18.37
USD
Average target price
22.49
USD
Spread / Average Target
+22.43%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -6.99% | 7.98B | |
| -6.23% | 516M | |
| -15.97% | 485M |
- Stock Market
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- CCL Stock
- CVC1 Stock
- Financials Carnival Corporation
