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Carnival (MEX:CUK N) Cyclically Adjusted FCF per Share : MXN-16.63 (As of May. 2025)


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What is Carnival Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Carnival's adjusted free cash flow per share for the three months ended in May. 2025 was MXN21.387. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is MXN-16.63 for the trailing ten years ended in May. 2025.

During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was -40.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Carnival was 33.70% per year. The lowest was -40.00% per year. And the median was 5.70% per year.

As of today (2025-07-09), Carnival's current stock price is MXN237.00. Carnival's Cyclically Adjusted FCF per Share for the quarter that ended in May. 2025 was MXN-16.63. Carnival's Cyclically Adjusted Price-to-FCF of today is .

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Carnival was 73.90. The lowest was 4.96. And the median was 37.86.


Carnival Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Carnival's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Carnival Cyclically Adjusted FCF per Share Chart

Carnival Annual Data
Trend Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.52 -14.98 -51.37 -17.93 -14.08

Carnival Quarterly Data
Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -23.04 -22.97 -14.08 -14.30 -16.63

Competitive Comparison of Carnival's Cyclically Adjusted FCF per Share

For the Travel Services subindustry, Carnival's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Carnival's Cyclically Adjusted Price-to-FCF Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Carnival's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Carnival's Cyclically Adjusted Price-to-FCF falls into.


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Carnival Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Carnival's adjusted Free Cash Flow per Share data for the three months ended in May. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of May. 2025 (Change)*Current CPI (May. 2025)
=21.387/136.1000*136.1000
=21.387

Current CPI (May. 2025) = 136.1000.

Carnival Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201508 20.523 100.300 27.848
201511 8.322 100.300 11.292
201602 10.996 100.100 14.951
201605 6.014 100.800 8.120
201608 24.970 101.200 33.581
201611 10.636 101.800 14.220
201702 14.284 102.400 18.985
201705 12.060 103.500 15.859
201708 24.795 104.000 32.448
201711 9.744 104.700 12.666
201802 12.840 104.900 16.659
201805 11.077 105.900 14.236
201808 20.817 106.500 26.603
201811 4.291 106.900 5.463
201902 -28.080 106.800 -35.784
201905 32.923 107.900 41.528
201908 23.756 108.300 29.854
201911 -26.095 108.500 -32.733
202002 -11.826 108.600 -14.821
202005 -94.153 108.600 -117.995
202008 -86.842 108.800 -108.632
202011 -73.956 109.100 -92.259
202102 -62.652 109.400 -77.943
202105 -30.670 111.000 -37.605
202108 -32.636 112.100 -39.623
202111 -16.203 114.100 -19.327
202202 -70.738 115.400 -83.427
202205 -8.424 119.700 -9.578
202208 -14.950 121.800 -16.705
202211 -19.982 124.800 -21.791
202302 -10.002 126.000 -10.804
202305 6.183 129.100 6.518
202308 12.056 129.400 12.680
202311 3.401 130.000 3.561
202402 -4.993 130.800 -5.195
202405 9.654 132.700 9.901
202408 8.855 133.400 9.034
202411 4.651 134.600 4.703
202502 4.986 135.600 5.004
202505 21.387 136.100 21.387

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Carnival  (MEX:CUK N) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Carnival was 73.90. The lowest was 4.96. And the median was 37.86.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Carnival Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Carnival's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Carnival Business Description

Industry
Address
Carnival House, 100 Harbour Parade, Southampton, Hampshire, GBR, S015 1ST
Carnival is the largest global cruise company, with more than 90 ships in service at the end of fiscal 2024. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe. It's currently folding its P&O Australia brand into Carnival. The firm also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted 14 million guests in 2024.

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