CarnivalMEX:CCL 76 Return-on-Tangible-Equity is 9.19% as of Feb. 2026, which is 34% below its 10-year median of 13.96. 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 797 Travel & Leisure companies, Carnival ranks better than 79.67% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Carnival's annualized net income for the quarter that ended in Feb. 2026 was MXN17,772 Mil. Carnival's average shareholder tangible equity for the quarter that ended in Feb. 2026 was MXN193,485 Mil. Therefore, Carnival's annualized Return-on-Tangible-Equity for the quarter that ended in Feb. 2026 was 9.19%.
The historical rank and industry rank for Carnival's Return-on-Tangible-Equity or its related term are showing as below:
MEX:CCL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -77.55 Med: 13.96 Max: 32.49
Current: 32.49
During the past 13 years, Carnival's highest Return-on-Tangible-Equity was 32.49%. The lowest was -77.55%. And the median was 13.96%.
MEX:CCL's Return-on-Tangible-Equity is ranked better than 79.67% of 797
companies
in the Travel & Leisure industry
Industry Median: 7.43
vs MEX:CCL: 32.49
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Carnival Return-on-Tangible-Equity Related Terms
Carnival Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Carnival's Return-on-Tangible-Equity 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: Return-on-Tangible-Equity Comparison
For the Travel Services subindustry, Carnival's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Carnival's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Carnival's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Feb. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 9.19% mean?
Carnival (MEX:CCL) has a Return-on-Tangible-Equity of 9.19% as of Feb. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Carnival and its competitors. This is 34% below median its historical median of 13.96. According to the industry distribution chart, Carnival ranks #162 out of 797 companies in the Travel & Leisure industry, placing it in the top 20.3%.
Is Carnival's Return-on-Tangible-Equity too high?
Carnival's current Return-on-Tangible-Equity of 9.19% is 34% below median its 10-year median of 13.96. The Travel & Leisure industry median Return-on-Tangible-Equity is 7.43. Carnival's value of 9.19% is 23.7% above this industry median. Based on the distribution chart, Carnival ranks #162 out of 797 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 76/100, reflecting its overall financial health beyond just this single metric.
How does Carnival's Return-on-Tangible-Equity compare to CCL and VIK?
According to the Travel & Leisure industry distribution chart, Carnival ranks #162 out of 797 companies for Return-on-Tangible-Equity. This places Carnival in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.43. Carnival's value of 9.19% is 23.7% above this benchmark. While the company's 10-year median is 13.96 vs. the industry median of 7.43, 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 Return-on-Tangible-Equity for a Travel & Leisure company?
The median Return-on-Tangible-Equity among Travel & Leisure companies is 7.43, based on 797 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carnival's current Return-on-Tangible-Equity of 9.19% is 23.7% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Carnival and its competitors. For the Travel & Leisure industry, the median Return-on-Tangible-Equity is 7.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carnival's current Return-on-Tangible-Equity is 9.19%, which is 34% below median its own 10-year median of 13.96. 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 Return-on-Tangible-Equity of 9.19%. 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 Return-on-Tangible-Equity is 9.19%, which is 34% below median its 10-year median of 13.96 and 23.7% above the Travel & Leisure industry median of 7.43. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Carnival (MEX:CCL), the current Return-on-Tangible-Equity is 9.19% 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:
Return-on-Tangible-Equity: 9.19% (34% below median its 10-year median of 13.96)
GF Value™: MXN352.19 vs. price of MXN438.26 (24.4% above fair value)
Industry Position: 23.7% above the Travel & Leisure median (#162 of 797)
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
Get the complete analysis for MEX:CCL
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:CCL has been successfully added to your 
