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32.88 (1y: +2%)
Market Cap 26.64 B P/E(ttm) 17.30
Enterprise Value 35.55 B P/B 1.11
CCL- NYSE (USA)
Carnival Corporation
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$32.88
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry		 vs
history
Cash to Debt 0.052
CCL's Cash to Debt is ranked lower than
89% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 1.01 vs. CCL: 0.052 )
CCL' s 10-Year Cash to Debt Range
Min: 0.05   Max: 0.41
Current: 0.05
0.05
0.41
Equity to Asset 0.496
CCL's Equity to Asset is ranked higher than
51% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.48 vs. CCL: 0.496 )
CCL' s 10-Year Equity to Asset Range
Min: 0.39   Max: 0.66
Current: 0.5
0.39
0.66
Interest Coverage 5
CCL's Interest Coverage is ranked lower than
54% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 6.50 vs. CCL: 5 )
CCL' s 10-Year Interest Coverage Range
Min: 5   Max: 203
Current: 5
5
203
F-Score: 5
Z-Score: 2.06
M-Score: -3.27
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry		 vs
history
Operating margin (%) 10.70
CCL's Operating margin (%) is ranked higher than
62% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 7.50 vs. CCL: 10.70 )
CCL' s 10-Year Operating margin (%) Range
Min: 10.7   Max: 29.2
Current: 10.7
10.7
29.2
Net-margin (%) 8.4
CCL's Net-margin (%) is ranked higher than
64% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 4.80 vs. CCL: 8.4 )
CCL' s 10-Year Net-margin (%) Range
Min: 8.4   Max: 29.4
Current: 8.4
8.4
29.4
ROE (%) 5.4
CCL's ROE (%) is ranked higher than
54% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 4.50 vs. CCL: 5.4 )
CCL' s 10-Year ROE (%) Range
Min: 5.4   Max: 17.3
Current: 5.4
5.4
17.3
ROA (%) 3.3
CCL's ROA (%) is ranked higher than
55% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 2.70 vs. CCL: 3.3 )
CCL' s 10-Year ROA (%) Range
Min: 3.3   Max: 12.4
Current: 3.3
3.3
12.4
ROC (Joel Greenblatt) (%) 5.90
CCL's ROC (Joel Greenblatt) (%) is ranked lower than
56% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 7.90 vs. CCL: 5.90 )
CCL' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 5.9   Max: 16.6
Current: 5.9
5.9
16.6
Revenue Growth (%) 4.8
CCL's Revenue Growth (%) is ranked higher than
70% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. CCL: 4.8 )
CCL' s 10-Year Revenue Growth (%) Range
Min: 2.8   Max: 15.5
Current: 4.8
2.8
15.5
EBITDA Growth (%) -1.4
CCL's EBITDA Growth (%) is ranked lower than
85% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. CCL: -1.4 )
CCL' s 10-Year EBITDA Growth (%) Range
Min: -1.4   Max: 14.9
Current: -1.4
-1.4
14.9
EPS Growth (%) -7.1
CCL's EPS Growth (%) is ranked lower than
89% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. CCL: -7.1 )
CCL' s 10-Year EPS Growth (%) Range
Min: -7.1   Max: 13.7
Current: -7.1
-7.1
13.7
» CCL's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

CCL Guru Trades in Q2 2012

Joel Greenblatt 11,850 sh (New)
Steven Cohen 72,523 sh (+29.86%)
PRIMECAP Management 16,865,064 sh (+12.73%)
Brian Rogers 3,500,000 sh (+7.69%)
Meridian Funds 389,200 sh (+3.35%)
Julian Robertson 9,950 sh (unchged)
John Hussman 1,000 sh (unchged)
Jim Simons Sold Out
James Barrow 23,093,909 sh (-1.78%)
Murray Stahl 48,674 sh (-2.92%)
HOTCHKIS & WILEY 1,935,800 sh (-4.28%)
David Dreman 359,027 sh (-17.19%)
Arnold Schneider 392,295 sh (-17.57%)
John Rogers 1,363,043 sh (-23.14%)
Manning & Napier Advisors, Inc 7,599,352 sh (-30.03%)
Jeff Auxier 13,650 sh (-30.36%)
First Pacific Advisors 126,700 sh (-75.21%)
» More
Q3 2012

CCL Guru Trades in Q3 2012

Joel Greenblatt 22,104 sh (+86.53%)
Meridian Funds 441,300 sh (+13.39%)
Steven Cohen 75,172 sh (+3.65%)
Murray Stahl 48,846 sh (+0.35%)
James Barrow 23,115,269 sh (+0.09%)
Brian Rogers 3,500,000 sh (unchged)
John Hussman 1,000 sh (unchged)
Julian Robertson 9,950 sh (unchged)
Jeff Auxier Sold Out
First Pacific Advisors Sold Out
Manning & Napier Advisors, Inc 7,344,047 sh (-3.36%)
PRIMECAP Management 16,070,764 sh (-4.71%)
Arnold Schneider 358,647 sh (-8.58%)
HOTCHKIS & WILEY 1,466,170 sh (-24.26%)
David Dreman 245,677 sh (-31.57%)
John Rogers 685,033 sh (-49.74%)
» More
Q4 2012

CCL Guru Trades in Q4 2012

Paul Tudor Jones 13,400 sh (New)
Julian Robertson 528,950 sh (+5216.08%)
John Hussman 1,500 sh (+50%)
Brian Rogers 3,500,000 sh (unchged)
James Barrow 23,036,787 sh (-0.34%)
PRIMECAP Management 15,940,364 sh (-0.81%)
Manning & Napier Advisors, Inc 7,038,161 sh (-4.17%)
Murray Stahl 46,637 sh (-4.52%)
Arnold Schneider 313,495 sh (-12.59%)
Meridian Funds 379,000 sh (-14.12%)
Joel Greenblatt 8,345 sh (-62.25%)
HOTCHKIS & WILEY 517,097 sh (-64.73%)
John Rogers 224,317 sh (-67.25%)
David Dreman 61,015 sh (-75.16%)
Steven Cohen 14,296 sh (-80.98%)
» More
Q1 2013

CCL Guru Trades in Q1 2013

Jim Simons 623,400 sh (New)
Steven Cohen 448,181 sh (+3035.01%)
John Hussman 4,500 sh (+200%)
John Rogers 633,417 sh (+182.38%)
HOTCHKIS & WILEY 1,106,927 sh (+114.07%)
Paul Tudor Jones 17,500 sh (+30.6%)
Arnold Schneider 335,730 sh (+7.09%)
James Barrow 23,689,337 sh (+2.83%)
Brian Rogers 3,500,000 sh (unchged)
David Dreman Sold Out
Meridian Funds Sold Out
Joel Greenblatt Sold Out
Manning & Napier Advisors, Inc 6,919,900 sh (-1.68%)
PRIMECAP Management 15,264,357 sh (-4.24%)
Murray Stahl 25,915 sh (-44.43%)
Julian Robertson 9,950 sh (-98.12%)
» More
» Details

Insider Trades

Latest Guru Trades with CCL

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Julian Robertson 2013-03-31 Reduce -98.12%3.34%$33.21 - $39.15 $ 32.88-10%9950
Meridian Funds 2013-03-31 Sold Out 0.55%$33.21 - $39.15 $ 32.88-10%0
David Dreman 2013-03-31 Sold Out 0.06%$33.21 - $39.15 $ 32.88-10%0
Joel Greenblatt 2013-03-31 Sold Out 0.02%$33.21 - $39.15 $ 32.88-10%0
John Hussman 2013-03-31 Add 200%$33.21 - $39.15 $ 32.88-10%4500
Julian Robertson 2012-12-31 Add 5216.08%3.34%$36.03 - $39.32 $ 32.88-13%528950
David Dreman 2012-12-31 Reduce -75.16%0.17%$36.03 - $39.32 $ 32.88-13%61015
Joel Greenblatt 2012-12-31 Reduce -62.25%0.03%$36.03 - $39.32 $ 32.88-13%8345
John Hussman 2012-12-31 Add 50%$36.03 - $39.32 $ 32.88-13%1500
David Dreman 2012-09-30 Reduce -31.57%0.09%$31.89 - $37.95 $ 32.88-5%245677
Joel Greenblatt 2012-09-30 Add 86.53%0.03%$31.89 - $37.95 $ 32.88-5%22104
PRIMECAP Management 2012-06-30 Add 12.73%0.11%$30.56 - $35.39 $ 32.882%16865064
Joel Greenblatt 2012-06-30 New Buy0.03%$30.56 - $35.39 $ 32.882%11850
Premium More recent guru trades are included for Premium Members only!!

Top Ranked Articles about Carnival Corporation

Unsure About The Market? Great Companies are ALWAYS a Good Buy!
April 13, 2013
Great companies are always a good buy. They’re an even better buy when their stock price is depressed as a result of some temporary setback, and/or when no one has a buy recommendation on them (presuming, of course, that their underlying business model is solid, their balance sheet sparkles, and their earnings look “destined” to increase based upon some favorable social, business, political or demographic trend. And it doesn’t hurt if they have a pretty good moat around the business). Here are three companies in three different sectors that I believe share these qualities... Read more...
Why I’m Pessimistic about Stocks
March 24, 2013
Someone asked me whether I thought the stock market was overvalued, undervalued, or fairly valued. They were of the opinion that the Shiller P/E – which is now 23 – overstates how expensive the stock market is. They think today’s plain vanilla P/E ratio is more accurate. They also think today’s return on equity may be sustainable. I don’t share either opinion. I think the Shiller P/E is a better measure of the market’s price level than the P/E ratios you see in the press (which are either trailing P/E ratios or – worse yet – forward P/E ratios based on analyst estimates). And I don’t think today’s returns on equity are sustainable. Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 17.30
CCL's P/E(ttm) is ranked higher than
63% of the 371 Companies
in the Global Leisure industry.

( Industry Median: 21.20 vs. CCL: 17.30 )
CCL' s 10-Year P/E(ttm) Range
Min: 5.42   Max: 29.26
Current: 17.3
5.42
29.26
P/B 1.11
CCL's P/B is ranked higher than
62% of the 464 Companies
in the Global Leisure industry.

( Industry Median: 1.42 vs. CCL: 1.11 )
CCL' s 10-Year P/B Range
Min: 0.67   Max: 4.74
Current: 1.11
0.67
4.74
P/S 1.66
CCL's P/S is ranked lower than
55% of the 488 Companies
in the Global Leisure industry.

( Industry Median: 1.50 vs. CCL: 1.66 )
CCL' s 10-Year P/S Range
Min: 0.86   Max: 8.07
Current: 1.66
0.86
8.07
PFCF 33.21
CCL's PFCF is ranked lower than
76% of the 324 Companies
in the Global Leisure industry.

( Industry Median: 19.71 vs. CCL: 33.21 )
CCL' s 10-Year PFCF Range
Min: 20.49   Max: 511
Current: 33.21
20.49
511
EV-to-EBIT 19.02
CCL's EV-to-EBIT is ranked lower than
58% of the 392 Companies
in the Global Leisure industry.

( Industry Median: 16.90 vs. CCL: 19.02 )
CCL' s 10-Year EV-to-EBIT Range
Min: 7.9   Max: 182.3
Current: 19.02
7.9
182.3
Shiller P/E 12.85
CCL's Shiller P/E is ranked lower than
100% of the Companies
in the Global Leisure industry.

( Industry Median: vs. CCL: 12.85 )
CCL' s 10-Year Shiller P/E Range
Min: 5.91   Max: 31.32
Current: 12.85
5.91
31.32

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 3.04
CCL's Dividend Yield is ranked higher than
82% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.73 vs. CCL: 3.04 )
CCL' s 10-Year Dividend Yield Range
Min: 0.23   Max: 10.15
Current: 3.04
0.23
10.15
Dividend Payout 0.5
CCL's Dividend Payout is ranked lower than
65% of the 240 Companies
in the Global Leisure industry.

( Industry Median: 0.37 vs. CCL: 0.5 )
CCL' s 10-Year Dividend Payout Range
Min: 0.16   Max: 0.6
Current: 0.5
0.16
0.6
Yield on cost (5-Year) 3.00
CCL's Yield on cost (5-Year) is ranked higher than
82% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.67 vs. CCL: 3.00 )
CCL' s 10-Year Yield on cost (5-Year) Range
Min: 0.23   Max: 10.15
Current: 3
0.23
10.15
Share Buyback Rate 0.8
CCL's Share Buyback Rate is ranked higher than
93% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. CCL: 0.8 )
CCL' s 10-Year Share Buyback Rate Range
Min: 1.3   Max: -9.2
Current: 0.8

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 36.7
CCL's Price/Net Current Asset Value is ranked lower than
64% of the 303 Companies
in the Global Leisure industry.

( Industry Median: 19.00 vs. CCL: 36.7 )
CCL' s 10-Year Price/Net Current Asset Value Range
Min: 37.5   Max: 145.1
Current: 36.7
37.5
145.1
Price/Tangible Book 1.3
CCL's Price/Tangible Book is ranked higher than
57% of the 421 Companies
in the Global Leisure industry.

( Industry Median: 1.70 vs. CCL: 1.3 )
CCL' s 10-Year Price/Tangible Book Range
Min: 1.2   Max: 3.9
Current: 1.3
1.2
3.9
Price/DCF (Projected) 1.1
CCL's Price/DCF (Projected) is ranked higher than
61% of the 176 Companies
in the Global Leisure industry.

( Industry Median: 1.40 vs. CCL: 1.1 )
CCL' s 10-Year Price/DCF (Projected) Range
Min: 0.8   Max: 3.8
Current: 1.1
0.8
3.8
Price/Median PS Value 0.5
CCL's Price/Median PS Value is ranked higher than
94% of the 456 Companies
in the Global Leisure industry.

( Industry Median: 1.10 vs. CCL: 0.5 )
CCL' s 10-Year Price/Median PS Value Range
Min: 0.4   Max: 1.4
Current: 0.5
0.4
1.4
Price/Graham Number 1.1
CCL's Price/Graham Number is ranked higher than
63% of the 326 Companies
in the Global Leisure industry.

( Industry Median: 1.40 vs. CCL: 1.1 )
CCL' s 10-Year Price/Graham Number Range
Min: 0.6   Max: 2
Current: 1.1
0.6
2
Earnings Yield (Greenblatt) 5.30
CCL's Earnings Yield (Greenblatt) is ranked higher than
53% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 4.80 vs. CCL: 5.30 )
CCL' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.5   Max: 12.7
Current: 5.3
0.5
12.7
Forward Rate of Return (Yacktman) -1.23
CCL's Forward Rate of Return (Yacktman) is ranked lower than
82% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. CCL: -1.23 )
CCL' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -1.2   Max: 61
Current: -1.23
-1.2
61

Business Description

Carnival Corporation is incorporated in Panama, and Carnival plc is incorporated in England and Wales. Carnival Corporation and Carnival plc operate a dual listed company ('DLC'), whereby the businesses of Carnival Corporation and Carnival plc are combined through a number of contracts and through provisions in Carnival Corporation's Articles of Incorporation and By-Laws and Carnival plc's Articles of Association. It is the cruise company and one of the vacation companies in the world. It has a portfolio of widely recognized cruise brands and is a provider of cruises to all major vacation destinations. Its mission is to deliver exceptional vacation experiences through some of the world's best-known cruise brands that cater to a variety of different geographic regions and lifestyles, all at an outstanding value unrivalled on land or at sea. Its primary financial goal is to profitably grow its cruise business, while maintaining a strong balance sheet, which enhances its financial flexibility. The Company is a provider of cruise vacations in all the largest vacation markets in the world, which are comprised of North America, Europe, Australia and New Zealand, Asia and South America. It has product offerings in each of the three classifications noted above. The number of cruise ships the company operates: Carnival Cruise Lines, Princess Cruises ('Princess'), Costa Cruises ('Costa'), Holland America Line, P&O Cruises, AIDA Cruises ('AIDA'), Ibero Cruises ('Ibero'), P&O Cruises Australia, Cunard Line ('Cunard'), Ocean Village and The Yachts of Seabourn ('Seabourn'). Its largest purchases are for fuel, travel agency services, food and beverages, airfare, port facility utilization, repairs and maintenance, including dry-docking, advertising and marketing, hotel and restaurant products and supplies, communication services and for the construction and refurbishment of its ships. Although it utilizes a select number of suppliers for most of its food and beverages, communication services, air transportation services and hotel and restaurant products and supplies, most of these products and services are available from multiple sources at competitive prices. The Company compete with land-based vacation alternatives throughout the world, including, among others, hotels, resorts (including all-inclusive), theme parks, organized tours, land-based casino operations and vacation ownership properties located in Las Vegas, Nevada, Orlando, Florida, the Caribbean (including the Bahamas), France, Dubai, Canary Islands and various Mediterranean, Mexican, and Hawaiian Island destinations, as well as numerous other vacation choices throughout the world. Its ships are regulated by various international, national, state and local laws, regulations and treaties in force in the jurisdictions in which its ships operate. The Company ships, which are registered in the Bahamas, Bermuda, Italy, the Netherlands, Panama, Portugal and the UK, are regulated by these j
Company Website
SEC Reports
Industry: Leisure
Compare:SIX, PCLN, RCL, FUN, SWGAY
Traded in other countries:CVC1.Germany
» More Articles for CCL

Headlines

Articles On GuruFocus.com
Unsure About The Market? Great Companies are ALWAYS a Good Buy! Apr 13 2013 
Why I’m Pessimistic about Stocks Mar 24 2013 
5 Things I Look For in a Stock Mar 14 2013 
Am I a Value Investor? Mar 10 2013 
The Best Yielding Ex-Dividend Stocks for Next Week Feb 17 2013 
My 4 Favorites from the Services Sector with Big Dividends and Strongest Earnings Growth Feb 08 2013 
How to Learn Everything You Need to Know About a Stock Jan 15 2013 
How to Pick Stocks That Always Grow EPS Dec 19 2012 
Always Use Normal Numbers Dec 14 2012 
What Is the Best Way to Learn Accounting? Dec 12 2012 

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