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CarnivalMEX:CCL 76 Debt-to-EBITDA is 5.25 as of Feb. 2026, which is 168% above its 10-year median of 1.96. GuruFocus rates MEX:CCL with a GF Score™ of 76/100 and a GF Value™ of MXN352.19. The stock has 3 warning signs investors should review. Among 647 Travel & Leisure companies, Carnival ranks worse than 71.25% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Carnival's Debt-to-EBITDA or its related term are showing as below:
MEX:CCL'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -16.34 Med: 1.96 Max: 7.29
Current: 4.61
During the past 13 years, the highest Debt-to-EBITDA Ratio of Carnival was 7.29. The lowest was -16.34. And the median was 1.96.
MEX:CCL's Debt-to-EBITDA is ranked worse than 71.25% of 647
companies
in the Travel & Leisure industry
Industry Median: 2.55
vs MEX:CCL: 4.61
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Carnival Debt-to-EBITDA Related Terms
Carnival Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Carnival's Debt-to-EBITDA 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.
MEX:CCL vs CCL, VIK, TCOM: Debt-to-EBITDA Comparison
For the Travel Services subindustry, Carnival's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Carnival's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Carnival's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Feb. 2026) EBITDA data.
Carnival (MEX:CCL) has a Debt-to-EBITDA of 5.25 as of Feb. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Carnival. This is 168% above median its historical median of 1.96. According to the industry distribution chart, Carnival ranks #461 out of 647 companies in the Travel & Leisure industry, placing it in the top 71.3%.
Is Carnival's Debt-to-EBITDA too high?
Carnival's current Debt-to-EBITDA of 5.25 is 168% above median its 10-year median of 1.96. The Travel & Leisure industry median Debt-to-EBITDA is 2.55. Carnival's value of 5.25 is 105.9% above this industry median. Based on the distribution chart, Carnival ranks #461 out of 647 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Carnival has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Carnival's Debt-to-EBITDA compare to CCL and VIK?
According to the Travel & Leisure industry distribution chart, Carnival ranks #461 out of 647 companies for Debt-to-EBITDA. This places Carnival in the lower half of its industry. The industry median Debt-to-EBITDA is 2.55. Carnival's value of 5.25 is 105.9% above this benchmark. While the company's 10-year median is 1.96 vs. the industry median of 2.55, Carnival has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Travel & Leisure company?
The median Debt-to-EBITDA among Travel & Leisure companies is 2.55, based on 647 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carnival's current Debt-to-EBITDA of 5.25 is 105.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Carnival. For the Travel & Leisure industry, the median Debt-to-EBITDA is 2.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carnival's current Debt-to-EBITDA is 5.25, which is 168% above median its own 10-year median of 1.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carnival stock overvalued right now?
Carnival (MEX:CCL) has a current Debt-to-EBITDA of 5.25. The stock's GF Value™ is MXN352.19, compared to a current price of MXN438.26 — trading 24.4% above its estimated fair value. The current Debt-to-EBITDA is 5.25, which is 168% above median its 10-year median of 1.96 and 105.9% above the Travel & Leisure industry median of 2.55. Carnival's overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Carnival (MEX:CCL), the current Debt-to-EBITDA is 5.25 as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Carnival (MEX:CCL) Overvalued in 2026?
Based on GuruFocus' analysis, Carnival stock appears to be overvalued.
The current stock price of MXN438.26 is trading 24.4% above its estimated GF Value™ of MXN352.19.
Key valuation signals for MEX:CCL:
Debt-to-EBITDA: 5.25 (168% above median its 10-year median of 1.96)
GF Value™: MXN352.19 vs. price of MXN438.26 (24.4% above fair value)
Industry Position: 105.9% above the Travel & Leisure median (#461 of 647)
No single metric tells the full story. See the MEX:CCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carnival PLC is the largest global cruise company, with nearly 100 ships in service. 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 recently folded 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 nearly 14 million guests in 2025.
76GF Score
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