Head to head · SEC data as of September 11, 2026

Carnival vs Royal Caribbean: which has the stronger fundamentals?

Carnival

80

Quality score · out of 100

Royal Caribbean

77

Quality score · out of 100

On paper this one is nearly a draw: Carnival scores 80 and Royal Caribbean scores 77 out of 100 in our fundamental quality model. Carnival wins on cash generation (FCF) (11.7% vs -2.2%). Royal Caribbean answers with net margin (23.5% vs 11.2%), ROE (43% vs 23.7%) and revenue growth (47.5% vs 33.4%).

The metrics, head to head

MetricCarnivalRoyal Caribbean
Quality score (0-100)8077
Net margin11.2%23.5%
Gross margin
ROE23.7%43%
Net debt/EBITDA3.18×3.17×
FCF margin11.7%-2.2%
Revenue growth (annualized)33.4%47.5%
Earnings growth (annualized)40.3%45.8%

TTM metrics with official SEC data, refreshed daily. Bold green marks the winner of each metric. A dash means the metric doesn't apply or isn't reliable.

What each one does

Carnival. 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.

Royal Caribbean. Royal Caribbean is the megaship cruise line: floating cities with water parks and ice rinks that redefine what a cruise is. It emerged from pandemic near-death with record demand and an ever-younger clientele.

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What this comparison doesn't tell you

The score measures business quality, not whether the stock is cheap or expensive: the better company can be the worse investment if you overpay. For the valuation verdict, enter each one's current price in the analyzer:

Analyze Carnival →Analyze Royal Caribbean →

Frequently asked questions

Who has the stronger fundamentals today, Carnival or Royal Caribbean?

They're practically tied: Carnival and Royal Caribbean score 80 and 77 out of 100 in the StockSemáforo model (profitability, growth and financial strength, built on official SEC data). The score is recomputed nightly with the latest filings.

Does that make Carnival the better investment?

No. The score measures business quality, not valuation: an excellent company can trade at an excessive price and be a poor investment at that price. To find out whether it's cheap or expensive, enter its current quote in the StockSemáforo analyzer.

Who's behind the methodology and model · how the score is computed

Data: official SEC filings (EDGAR) · Recomputed on September 11, 2026

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