Carnival Corporation Ltd.

NYSE:CCL Stock Report

Market Cap: US$30.8b

Carnival Valuation

Is CCL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CCL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: CCL ($22.75) is trading below our estimate of future cash flow value ($53.43)

Significantly Below Future Cash Flow Value: CCL is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CCL?

Key metric: As CCL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CCL. This is calculated by dividing CCL's market cap by their current earnings.
What is CCL's PE Ratio?
PE Ratio10.2x
EarningsUS$3.07b
Market CapUS$30.78b

Price to Earnings Ratio vs Peers

How does CCL's PE Ratio compare to its peers?

The above table shows the PE ratio for CCL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.4x
EXPE Expedia Group
16.5x10.70%US$33.2b
VIK Viking Holdings
28.2x19.40%US$37.5b
TCOM Trip.com Group
5.2x-18.17%US$24.4b
RCL Royal Caribbean Cruises
15.8x11.08%US$69.3b
CCL Carnival
10.2x8.94%US$30.8b

Price-To-Earnings vs Peers: CCL is good value based on its Price-To-Earnings Ratio (10.2x) compared to the peer average (16.4x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does CCL's PE Ratio compare vs other companies in the US Hospitality Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BYD Boyd Gaming
3.1x-58.78%US$5.55b
DHCC Diamondhead Casino
0.5xn/aUS$217.79k
No more companies available in this PE range
CCL 10.2xIndustry Avg. 21.5xNo. of Companies20PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CCL is good value based on its Price-To-Earnings Ratio (10.2x) compared to the US Hospitality industry average (21.5x).

Price to Earnings Ratio vs Fair Ratio

What is CCL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CCL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.2x
Fair PE Ratio24.2x

Price-To-Earnings vs Fair Ratio: CCL is good value based on its Price-To-Earnings Ratio (10.2x) compared to the estimated Fair Price-To-Earnings Ratio (24.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CCL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$22.75
US$35.30
+55.15%
11.35%US$43.00US$28.70n/a26
Sep ’27US$23.23
US$35.30
+51.94%
11.35%US$43.00US$28.70n/a26
Aug ’27US$27.81
US$35.55
+27.82%
10.91%US$43.00US$28.70n/a25
Jul ’27US$28.52
US$35.86
+25.75%
11.56%US$45.00US$28.70n/a24
Jun ’27US$27.51
US$34.57
+25.68%
13.33%US$45.00US$28.70n/a23
May ’27US$26.66
US$34.51
+29.44%
13.52%US$45.00US$28.70n/a22
Apr ’27US$26.58
US$34.95
+31.48%
13.60%US$45.00US$28.70n/a23
Mar ’27US$31.55
US$38.00
+20.46%
9.32%US$46.00US$33.00n/a23
Feb ’27US$30.02
US$38.00
+26.60%
9.32%US$46.00US$33.00n/a23
Jan ’27US$30.54
US$36.83
+20.60%
11.15%US$46.00US$26.00n/a23
Dec ’26US$25.93
US$35.63
+37.41%
10.54%US$43.00US$26.00n/a23
Nov ’26US$28.83
US$35.84
+24.32%
10.64%US$43.00US$26.00n/a22
Oct ’26US$28.36
US$35.88
+26.52%
10.52%US$43.00US$26.00n/a21
Sep ’26US$31.89
US$33.59
+5.33%
11.20%US$43.00US$26.00US$23.2322
Aug ’26US$29.07
US$32.95
+13.36%
9.70%US$38.00US$26.00US$27.8122
Jul ’26US$28.64
US$30.80
+7.54%
9.77%US$35.00US$24.00US$28.5222
Jun ’26US$23.22
US$27.73
+19.43%
13.53%US$34.00US$21.00US$27.5124
May ’26US$18.63
US$27.65
+48.41%
16.91%US$34.00US$14.00US$26.6624
Apr ’26US$19.39
US$28.47
+46.81%
15.34%US$34.00US$14.00US$26.5824
Mar ’26US$23.93
US$29.68
+24.01%
13.80%US$35.00US$14.00US$31.5524
Feb ’26US$27.67
US$29.75
+7.51%
14.33%US$35.00US$14.00US$30.0223
Jan ’26US$24.92
US$29.23
+17.28%
14.96%US$35.00US$14.00US$30.5423
Dec ’25US$25.43
US$25.15
-1.12%
14.28%US$29.00US$14.00US$25.9322
Nov ’25US$21.90
US$24.56
+12.14%
15.45%US$28.21US$14.00US$28.8321
Oct ’25US$18.02
US$23.39
+29.79%
15.29%US$28.00US$14.00US$28.3620
Sep ’25US$16.50
US$22.56
+36.71%
15.59%US$28.00US$13.00US$31.8922
US$35.3
Fair Value
35.5% undervalued intrinsic discount
26
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/11 21:37
End of Day Share Price 2026/09/11 00:00
Earnings2026/05/31
Annual Earnings2025/11/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Carnival Corporation Ltd. is covered by 44 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John StaszakArgus Research Company
Felicia Kantor HendrixBarclays
Brandt MontourBarclays