Fundamental analysis · SEC EDGAR · TTM through 31/05/2026
CCL · NYSE · Industrial
Fundamental quality
80
out of 100
Carnival Corp Ltd. grows profitably: it increases revenue at double digits (33.4% a year) without giving up profitability (net margin 11.2%). On fundamental quality it scores 80 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its financial strength (net debt 3.18× EBITDA). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Carnival is the world's largest cruise group: nine brands, from festive Carnival to Britain's Cunard, and more passengers than anyone. Its post-pandemic story is a single one: fill ships at good prices to pay down the colossal debt that saved its life.
EPS growth: 40.3% · Revenue growth: 33.4%
Net margin: 11.2% · ROE: 23.7% · ROIC: 12.2%
Net debt/EBITDA: 3.18x · FCF: 11.7%
Source: SEC EDGAR · TTM through 31/05/2026
The score includes +1 for dividend strength: 4 consecutive years of increases. Keeping that streak demands growing cash generation and balance-sheet discipline.
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its financial strength drags it down the most.
Percentile against the other 69 Industrial companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 5,595 | -10,236 | -9,921 | 18,068 |
| 2021 | 1,908 | -9,501 | -7,716 | 25,031 |
| 2022 | 12,168 | -6,093 | -6,610 | 31,586 |
| 2023 | 21,593 | -74 | 997 | 28,924 |
| 2024 | 25,021 | 1,916 | 1,297 | 27,003 |
| 2025 | 26,622 | 2,760 | 2,607 | 25,455 |
Between 2020 and 2025, revenue went from $5,595M to $26,622M (+376%) and net income went from -$10,236M to $2,760M (+127%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the half-year ended May 31, 2026, versus the half-year ended May 31, 2025 (SEC filings):
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
$1.95
per share, yearly
4 straight years raising it
Growth
The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →
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Is Carnival Corp Ltd. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Carnival Corp Ltd. a good company to invest in?
In terms of business quality, Carnival Corp Ltd. scores 80 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Carnival Corp Ltd. a profitable company?
Yes. Carnival Corp Ltd. shows a net margin of 11.2% and an ROE of 23.7%, a sign of a profitable business.
Does Carnival Corp Ltd. have a lot of debt?
Yes, its leverage is high: net debt is 3.18 times its EBITDA, and it has been rising.
Is Carnival Corp Ltd. growing?
Its revenue has grown 33.4% annualized in recent years and its earnings per share 40.3%.
Does Carnival Corp Ltd. generate cash?
Yes. It converts about 11.7% of its revenue into free cash flow.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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Who's behind the methodology and model · how the score is computed
Data: see Carnival Corp Ltd.'s filings on EDGAR
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