CARNIVAL CORPORATION Financials Carnival Corporation Deutsche Boerse AG
Equities
CVC1
PA1436583006
Hotels, Motels & Cruise Lines
|
Real-time Estimate
Other stock markets
|
5-day change | 1st Jan Change | ||
| 13.2 EUR | -1.28% |
|
-2.01% | -21.58% |
| May. 07 | Royal Caribbean recruiting thousands to meet surging demand, sources say | RE |
| May. 06 | JPMorgan Adjusts Price Target on Carnival to $21 From $23, Keeps Overweight Rating | 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 | 17,723 | - | - |
| Enterprise Value (EV) 1 | 42,424 | 38,796 | 43,936 | 42,810 | 46,942 | 45,507 | 43,618 | 41,276 |
| P/E ratio | 10.4 x | -1.51 x | -2.08 x | -1.92 x | -251 x | 15.2 x | 10.1 x | 8.57 x |
| Yield | 4.44% | 2.5% | - | - | - | - | - | 0.63% |
| Capitalization / Revenue | 1.51 x | 3.82 x | 10.3 x | 1.01 x | 0.87 x | 0.72 x | 0.68 x | 0.67 x |
| EV / Revenue | 2.04 x | 6.93 x | 23 x | 3.52 x | 2.17 x | 1.86 x | 1.68 x | 1.56 x |
| EV / EBITDA | 7.8 x | -5.86 x | -9.05 x | -20.3 x | 11.1 x | 8.04 x | 7 x | 6.3 x |
| EV / FCF | -31.6 x | -3.91 x | -5.69 x | -6.48 x | 47.5 x | 141 x | 14.8 x | 10.2 x |
| FCF Yield | -3.16% | -25.6% | -17.6% | -15.4% | 2.11% | 0.71% | 6.74% | 9.79% |
| Price to Book | 1.23 x | 0.75 x | 1.65 x | 1.77 x | 2.77 x | 2.25 x | 1.92 x | 1.49 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 | 14.12 | 14.12 | 14.12 |
| Announcement Date | 12/20/19 | 1/26/21 | 12/20/21 | 12/21/22 | 12/21/23 | - | - | - |
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 | 24,527 | 25,909 | 26,514 |
| EBITDA 1 | 5,436 | -6,624 | -4,856 | -2,104 | 4,231 | 5,662 | 6,233 | 6,551 |
| EBIT 1 | 3,276 | -8,865 | -7,089 | -4,379 | 1,956 | 3,102 | 3,565 | 3,787 |
| Operating Margin | 15.73% | -158.45% | -371.54% | -35.99% | 9.06% | 12.65% | 13.76% | 14.28% |
| Earnings before Tax (EBT) 1 | 3,060 | -10,253 | -9,522 | -6,080 | -62 | 1,312 | 1,969 | 2,311 |
| Net income 1 | 2,990 | -10,236 | -9,501 | -6,093 | -74 | 1,284 | 1,933 | 2,307 |
| Net margin | 14.36% | -182.95% | -497.96% | -50.07% | -0.34% | 5.24% | 7.46% | 8.7% |
| EPS 2 | 4.320 | -13.20 | -8.460 | -5.160 | -0.0600 | 0.9259 | 1.397 | 1.648 |
| Free Cash Flow 1 | -1,341 | -9,921 | -7,716 | -6,610 | 989 | 323.6 | 2,940 | 4,042 |
| FCF margin | -6.44% | -177.32% | -404.4% | -54.32% | 4.58% | 1.32% | 11.35% | 15.24% |
| FCF Conversion (EBITDA) | - | - | - | - | 23.38% | 5.72% | 47.18% | 61.7% |
| FCF Conversion (Net income) | - | - | - | - | - | 25.19% | 152.08% | 175.21% |
| Dividend per Share 2 | 2.000 | 0.5000 | - | - | - | - | - | 0.0890 |
| Announcement Date | 12/20/19 | 1/26/21 | 12/20/21 | 12/21/22 | 12/21/23 | - | - | - |
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 | 5,656 | 7,725 | 5,723 | 5,670 | 6,059 |
| EBITDA 1 | -1,341 | -937 | -901 | 302 | -567 | 382 | 681 | 2,221 | 946 | 871 | 1,062 | 2,612 | 1,118 | 1,008 | 1,233 |
| EBIT 1 | -1,893 | -1,491 | -1,473 | -279 | -1,135 | -172 | 120 | 1,624 | 384 | 276 | 418.4 | 1,947 | 456 | 332.5 | 545.2 |
| Operating Margin | -147.09% | -91.87% | -61.35% | -6.48% | -29.56% | -3.88% | 2.44% | 23.69% | 7.12% | 5.11% | 7.4% | 25.2% | 7.97% | 5.86% | 9% |
| Earnings before Tax (EBT) 1 | -2,624 | -1,888 | -1,831 | -759 | -1,601 | -686 | -402 | 1,065 | -39 | -214 | -27.2 | 1,546 | 7.659 | - | - |
| Net income 1 | -2,620 | -1,891 | -1,834 | -770 | -1,598 | -693 | -407 | 1,074 | -48 | -214 | -28.05 | 1,516 | 18.98 | - | - |
| Net margin | -203.57% | -116.51% | -76.38% | -17.89% | -41.63% | -15.64% | -8.29% | 15.67% | -0.89% | -3.96% | -0.5% | 19.63% | 0.33% | - | - |
| EPS 2 | -2.310 | -1.660 | -1.610 | -0.6500 | -1.270 | -0.5500 | -0.3200 | 0.7900 | -0.0400 | -0.1700 | -0.0228 | 1.071 | 0.0196 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 12/20/21 | 3/22/22 | 6/24/22 | 9/30/22 | 12/21/22 | 3/27/23 | 6/26/23 | 9/29/23 | 12/21/23 | 3/27/24 | - | - | - | - | - |
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 | 27,783 | 25,895 | 23,553 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.021 x | -2.633 x | -5.001 x | -14.5 x | 6.655 x | 4.907 x | 4.155 x | 3.595 x |
| Free Cash Flow 1 | -1,341 | -9,921 | -7,716 | -6,610 | 989 | 324 | 2,940 | 4,042 |
| ROE (net income / shareholders' equity) | 12.2% | -25.2% | -48.5% | -57.3% | 0.01% | 17.8% | 20.3% | 19.2% |
| ROA (Net income/ Total Assets) | 6.95% | -11.7% | -14.8% | -10.5% | 0% | 2.65% | 3.76% | 4.68% |
| Assets 1 | 42,996 | 87,159 | 64,053 | 58,102 | -3,737,374 | 48,473 | 51,415 | 49,304 |
| Book Value Per Share 2 | 36.80 | 26.50 | 10.70 | 5.610 | 5.440 | 6.280 | 7.340 | 9.450 |
| Cash Flow per Share 2 | 7.910 | -8.130 | -3.660 | -1.420 | 3.390 | 3.930 | 3.580 | 3.190 |
| Capex 1 | 5,429 | 3,620 | 3,607 | 4,940 | 3,284 | 4,268 | 2,754 | 1,912 |
| Capex / Sales | 26.07% | 64.7% | 189.05% | 40.6% | 15.21% | 17.4% | 10.63% | 7.21% |
| Announcement Date | 12/20/19 | 1/26/21 | 12/20/21 | 12/21/22 | 12/21/23 | - | - | - |
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
BUY
Number of Analysts
26
Last Close Price
14.12
USD
Average target price
21.37
USD
Spread / Average Target
+51.36%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +9.00% | 36.44B | |
| +4.93% | 579M | |
| -37.00% | 386M |
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