CarnivalFRA:3B5 -2.51%75 Dividend Payout Ratio is 0.38 as of May. 2026, which is 14% below its 10-year median of 0.44. GuruFocus rates FRA:3B5 with a GF Score™ of 75/100 and a GF Value™ of €20.88 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 345 Travel & Leisure companies, Carnival ranks better than 91.3% on this metric.
The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Carnival's Dividend Payout Ratio for the
months ended in May. 2026 was 0.38.
The historical rank and industry rank for Carnival's Dividend Payout Ratio or its related term are showing as below:
FRA:3B5'
s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.13 Med: 0.44 Max: 0.46
Current: 0.13
During the past 13 years, the highest Dividend Payout Ratio of Carnival was 0.46. The lowest was 0.13. And the median was 0.44.
FRA:3B5's Dividend Payout Ratio is ranked better than 91.3% of 345
companies
in the Travel & Leisure industry
Industry Median: 0.43
vs FRA:3B5: 0.13
During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Carnival was 37.80% per year. The lowest was -33.70% per year. And the median was 12.20% per year.
The growth rate is calculated with least square regression.
For more information regarding to dividend, please check our Dividend Page.
* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.
Carnival (FRA:3B5) Dividend Payout Ratio Explanation
In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.
Carnival Dividend Payout Ratio Related Terms
Carnival Dividend Payout Ratio Historical Data
* Premium members only.
The historical data trend for Carnival's Dividend Payout Ratio 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.
FRA:3B5 vs VIK, TCOM, EXPE: Dividend Payout Ratio Comparison
For the Travel Services subindustry, Carnival's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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 Dividend Payout Ratio vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Carnival's Dividend Payout Ratio distribution charts can be found below:
* The bar in red indicates where Carnival's Dividend Payout Ratio falls into.
The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.
Carnival's Dividend Payout Ratio for the fiscal year that ended in Nov. 2025 is calculated as
* 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.
Carnival (FRA:3B5) has a Dividend Payout Ratio of 0.38 as of May. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Carnival and its competitors. This is 14% below median its historical median of 0.44. Over the past decade, Carnival's Dividend Payout Ratio has ranged from 0.13 to 0.46. According to the industry distribution chart, Carnival ranks #30 out of 345 companies in the Travel & Leisure industry, placing it in the top 8.7%.
Is Carnival's Dividend Payout Ratio too high?
Carnival's current Dividend Payout Ratio of 0.38 is 14% below median its 10-year median of 0.44. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 0.46. The Travel & Leisure industry median Dividend Payout Ratio is 0.43. Carnival's value of 0.38 is 11.6% below this industry median. Based on the distribution chart, Carnival ranks #30 out of 345 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Carnival has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Carnival's Dividend Payout Ratio compare to VIK and TCOM?
According to the Travel & Leisure industry distribution chart, Carnival ranks #30 out of 345 companies for Dividend Payout Ratio. This places Carnival in the top 9% of its industry — outperforming the majority of peers. The industry median Dividend Payout Ratio is 0.43. Carnival's value of 0.38 is 11.6% below this benchmark. Historically, Carnival's own Dividend Payout Ratio has ranged from 0.13 to 0.46 over the past decade. While the company's 10-year median is 0.44 vs. the industry median of 0.43, Carnival has consistently been below 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 Dividend Payout Ratio for a Travel & Leisure company?
The median Dividend Payout Ratio among Travel & Leisure companies is 0.43, based on 345 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carnival's current Dividend Payout Ratio of 0.38 is 11.6% below 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 Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Carnival and its competitors. For the Travel & Leisure industry, the median Dividend Payout Ratio is 0.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carnival's current Dividend Payout Ratio is 0.38, which is 14% below median its own 10-year median of 0.44. 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?
Based on GuruFocus' analysis, Carnival (FRA:3B5) is currently considered Modestly Overvalued. The stock's GF Value™ is €20.88, compared to a current price of €24.90 — trading 19.3% above its estimated fair value. The current Dividend Payout Ratio is 0.38, which is 14% below median its 10-year median of 0.44 and 11.6% below the Travel & Leisure industry median of 0.43. Carnival's overall GF Score™ is 75/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Carnival (FRA:3B5), the current Dividend Payout Ratio is 0.38 as of May. 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 (FRA:3B5) Overvalued in 2026?
Based on GuruFocus' analysis, Carnival stock appears to be overvalued.
The current stock price of €24.90 is trading 19.3% above its estimated GF Value™ of €20.88.
GuruFocus considers Carnival to be Modestly Overvalued.
Key valuation signals for FRA:3B5:
Dividend Payout Ratio: 0.38 (14% below median its 10-year median of 0.44)
GF Value™: €20.88 vs. price of €24.90 (19.3% above fair value)
Industry Position: 11.6% below the Travel & Leisure median (#30 of 345)
No single metric tells the full story. See the FRA:3B5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carnival 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.
75GF Score
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