Inside the research
Carnival Corporation Ltd.
CCL Research profile · latest available data
Price overview
$22.25
▲ +0.46 (+2.1%)
| 52w hi | $33.45 |
|---|---|
| 52w lo | $21.79 |
| Vol | 22.08M |
| As of | 25 Sep 2026 |
The Verdict
Our score +2.73
| Short | +6.14 |
|---|---|
| Medium | +0.82 |
| Long | -0.29 |
computed 2026-09-27
Key fundamentals
Carnival Corporation Ltd.
Consumer Cyclical · Travel Services
| Market cap | $30.47B |
|---|---|
| Enterprise value | $54.42B |
| Trailing P/E | 10.02x |
| Forward P/E | 8.54x |
| EV / EBITDA | 7.45x |
| P / S (ttm) | 1.12x |
| Profit margin | 11.2% |
| Return on equity | 26.7% |
| Revenue growth | +5.3% |
| Earnings growth | -6.5% |
| Debt / equity | 201.56 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.21 | |
| Sector | -0.03 | |
| Technical | -0.41 | |
| Earnings | +0.96 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Carnival Corporation Ltd., a cruise company, provides leisure travel services. The company operates through four segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations and islands, as well as owns and operates hotels, lodges, glass-domed railcars, and motorcoaches. The company offers its services under the AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn brands. It sells its cruises through travel agents, tour operators, vacation planners, websites, and onboard future cruise consultants. Carnival Corporation Ltd. was founded in 1972 and is headquartered in Miami, Florida.
Risk Metrics
| Beta vs SPX | 1.91 |
|---|---|
| Corr SPX | 0.65 |
| Annual vol | 47.3% |
| Annual ret | +19.0% |
| Sharpe | 0.40 |
| Max DD | -42.3% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $34.01 |
|---|---|
| High / Low | $45.00 / $28.70 |
| Median | $33.00 |
| Analysts | 21 |
| Strong Buy | 5 | |
|---|---|---|
| Buy | 15 | |
| Hold | 5 | |
| Sell | 0 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-04-15 | Wells Fargo | → Overweight |
| 2026-04-13 | UBS | → Buy |
| 2026-03-30 | Wells Fargo | → Overweight |
| 2026-03-30 | HSBC | → Buy |
| 2026-03-30 | Citigroup | → Buy |
| 2026-03-30 | Bernstein | → Market Perform |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-05 | Reg FD Disclosure | read |
| 2026-06-23 | Earnings Release, Exhibits | read |
| 2026-05-07 | Termination of Agreement, Acquisition / Disposition… | read |
| 2026-04-20 | Shareholder Vote | read |
| 2026-03-27 | Earnings Release, Exhibits | read |
| 2026-02-20 | Material Agreement, Exhibits | read |
| 2026-02-12 | Material Agreement, 3.03… | read |
| 2025-12-19 | Earnings Release, Exhibits | read |
| 2025-10-15 | Material Agreement, Material Obligation… | read |
| 2025-09-30 | Reg FD Disclosure, Exhibits | read |
| 2025-09-30 | Reg FD Disclosure, Exhibits | read |
| 2025-09-29 | Earnings Release, Reg FD Disclosure… | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-05-11 | SUBOTNICK STUART | Sell | 0 | $5 | |
| 2026-05-11 | Lahey Katie | Withheld for tax | 616 | $16.25K | |
| 2026-05-11 | WEIL LAURA A | Withheld for tax | 616 | $16.25K | |
| 2026-05-11 | Gearhart Jeffrey J | Withheld for tax | 616 | $16.25K | |
| 2026-05-11 | SUBOTNICK STUART | Withheld for tax | 616 | $16.25K | |
| 2026-05-08 | Ljoen Lars Jakob | Chief Maritime Officer | Grant | 21.80K | — |
| 2026-05-08 | Lahey Katie | Grant | 7.71K | — | |
| 2026-05-08 | Gearhart Jeffrey J | Grant | 7.71K | — | |
| 2026-05-08 | WEISENBURGER RANDALL J | Grant | 7.71K | — | |
| 2026-05-08 | deynes bettina alejandra | Chief Human Resources Off | Grant | 20.78K | — |
Flow & Concentration
| Insider 180d net | -$5 |
|---|---|
| Insider buys / sells | 0 / 1 |
| Insider bias | Neutral |
| 13F holders | 8 |
| Top-5 share | 94.7% |
| HHI | 2,750 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $1.66B | 58.22M |
| Fidelity / FMR LLC | $1.02B | 35.77M |
| Capital Research / Capital World | $370.97M | 12.98M |
| AQR Capital Management | $329.88M | 11.55M |
| Citadel Advisors | $309.24M | 10.82M |
| Millennium Management | $194.06M | 6.79M |
| Renaissance Technologies | $14.09M | 493.00K |
| T. Rowe Price Group | $52.44K | 1.84M |
As of 2026-06-30
Dividends
| Yield (TTM) | 0.67% |
|---|---|
| $ / share (TTM) | $0.15 |
| 5y CAGR | -14.6% |
Annual dividend per share
| 2016 | $1.35 |
|---|---|
| 2017 | $1.60 |
| 2018 | $1.95 |
| 2019 | $2.00 |
| 2020 | $0.50 |
| 2026 | $0.15 |
Federal Contracts
| Amount | Agency | Description |
|---|---|---|
| $115.68K | Department of Homeland Security | FOREIGN PASSENGER VESSEL EXAMINER COURSE |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $26.62B | +6.2% | |
| Operating income | $4.48B | +3.6% | |
| Net income | $2.76B | +1.4% | |
| Cash from ops | $6.22B | +3.6% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $21.96 | $22.67 | $21.69 | $22.25 | 22.08M |
| Sep 24 | $21.51 | $22.16 | $21.45 | $21.79 | 28.50M |
| Sep 23 | $22.08 | $22.16 | $21.52 | $21.80 | 28.80M |
| Sep 22 | $23.19 | $23.35 | $22.13 | $22.28 | 40.63M |
| Sep 21 | $22.34 | $22.45 | $22.04 | $22.31 | 18.27M |
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