Carnival Corporation & plc - CCL Open Carnival Corporation & plc in new tab

32.30 USD

P/E

15.31

EPS

2.02

Yield

0.49%

P/B

3.30

ROE

25.63

Beta

2.54

Target Price

36.83 USD

Carnival Corporation & plc

🧾 Earnings Recap – Q4 2025

Carnival Corporation delivered record fourth-quarter revenue, yields, and EBITDA in 2025, with a remarkable 60% increase in net income year-over-year, marking a significant achievement in financial performance.

Achieved all-time high net income of over $3 billion, exceeding initial guidance by 30%.
Full-year yield improvement exceeded 5.5%, driven by effective commercial execution.
Operating margins and EBITDA margins rose by over 250 basis points year-over-year, with historical highs for operating income per ALBD.
The company plans to reinstate dividends at $0.15 per quarter, reflecting strong cash generation and balance sheet improvements.
Strong demand forecasts for 2026, with bookings at record levels and expectations for continued yield growth despite increased market capacity.

32.3000 USD

32.300 USD

Daily: +2.57%

1M 6M YTD 1Y 2Y 5Y Max

Key Metrics

Earnings date: March 20, 2026

P/E: 15.31

EPS: 2.02

Book Value: 9.36

Price to Book: 3.30

Debt/Equity: 227.88

% Insiders: 8.315%

Growth

Revenue Growth: 0.07%

Earnings Growth: 0.34%

Estimates

Forward P/E: 10.96

Forward EPS: 2.82

Target Mean Price: 36.83

Dividend

Dividend Yield: 0.49%

Annual dividends: 0.15 USD

Ex-Div. Date: Feb. 13, 2026

5y avg Yield: 4.21%

DCF Valuation

Tweak assumptions to recompute fair value for Carnival Corporation & plc (CCL)

Currency: USD

DCF Assumptions

Revenue growth (YoY) 0.10 Decimal (e.g., 0.10 = 10%). Range allows declines (−50%) to strong growth (+50%).

EBITDA margin 0.30 Decimal (e.g., 0.30 = 30%).

Capex (% Revenue) 0.04 Decimal (e.g., 0.04 = 4%).

Tax rate 0.20 Decimal (e.g., 0.20 = 20%).

Terminal growth (g, %) 3% Percent number (e.g., 3 = 3%).

Cost of Equity (%) 10% Percent number (e.g., 10 = 10%).

Cost of Debt (%) 5% Percent number (e.g., 5 = 5%).

DCF Result

Fair Value (DCF)

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Current Price

—

Upside

—

WACC

—

Terminal PV

—

Σ PV of FCFs

—

Note: historical bars show reported FCF (for context); forward bars show PV of projected FCF; if no per-year data, totals are shown.

About Carnival Corporation & plc - (CCL)

Country: United States

Sector: Consumer Discretionary

Website: http://www.carnivalcorp.com

Carnival Corporation & plc, a cruise company, provides leisure travel services in North America, Australia, Europe, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations and islands, as well as owns and operates hotels, lodges, glass-domed railcars, and motorcoaches. The company offers its services under the AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn brands. It sells its cruises through travel agents, tour operators, vacation planners, websites, and onboard future cruise consultants. Carnival Corporation & plc was founded in 1972 and is headquartered in Miami, Florida.

Exchange Ticker

NYQ (United States) CCL

LSE (United Kingdom) 0EV1.L

Dividend Yield

0.49% (5y avg: 4.21%)

Annual Dividends

0.15 USD

Next ex. div date

Feb. 13, 2026

Historical Dividends

Year	Total Dividends
2026	0.15 USD
Feb. 27, 2026	0.1500
2020	0.50 USD
March 13, 2020	0.5000
2019	2.00 USD
Dec. 13, 2019	0.5000
Sept. 13, 2019	0.5000
June 14, 2019	0.5000
March 15, 2019	0.5000
2018	1.95 USD
Dec. 14, 2018	0.5000
Sept. 14, 2018	0.5000
June 15, 2018	0.5000
March 16, 2018	0.4500
2017	1.60 USD
Dec. 15, 2017	0.4500
Sept. 15, 2017	0.4000
June 16, 2017	0.4000
March 17, 2017	0.3500
2016	1.35 USD
Dec. 16, 2016	0.3500
Sept. 16, 2016	0.3500
June 17, 2016	0.3500
March 11, 2016	0.3000
2015	1.10 USD
Dec. 11, 2015	0.3000
Sept. 11, 2015	0.3000
June 12, 2015	0.2500
March 13, 2015	0.2500
2014	1.00 USD
Dec. 12, 2014	0.2500
Sept. 12, 2014	0.2500
June 13, 2014	0.2500
March 14, 2014	0.2500
2013	1.00 USD
Dec. 13, 2013	0.2500
Sept. 13, 2013	0.2500
June 14, 2013	0.2500
March 15, 2013	0.2500
2012	1.50 USD
Dec. 28, 2012	0.5000
Dec. 14, 2012	0.2500
Sept. 14, 2012	0.2500
June 15, 2012	0.2500
March 16, 2012	0.2500
2011	1.00 USD
Dec. 16, 2011	0.2500
Sept. 16, 2011	0.2500
June 10, 2011	0.2500
March 11, 2011	0.2500
2010	0.40 USD
Dec. 10, 2010	0.1000
Sept. 10, 2010	0.1000
June 11, 2010	0.1000
March 12, 2010	0.1000
2008	1.60 USD
Dec. 12, 2008	0.4000
Sept. 12, 2008	0.4000
June 13, 2008	0.4000
March 14, 2008	0.4000
2007	1.38 USD
Dec. 14, 2007	0.4000
Sept. 14, 2007	0.3500
June 8, 2007	0.3500
March 9, 2007	0.2750
2006	1.03 USD
Dec. 8, 2006	0.2750
Sept. 8, 2006	0.2500
June 9, 2006	0.2500
March 10, 2006	0.2500
2005	0.80 USD
Dec. 9, 2005	0.2500
Sept. 9, 2005	0.2000
June 10, 2005	0.2000
March 11, 2005	0.1500
2004	0.53 USD
Dec. 10, 2004	0.1500
Sept. 10, 2004	0.1250
June 11, 2004	0.1250
March 12, 2004	0.1250
2003	0.44 USD
Dec. 12, 2003	0.1250
Sept. 12, 2003	0.1050
June 13, 2003	0.1050
March 14, 2003	0.1050
2002	0.42 USD
Dec. 16, 2002	0.1050
Sept. 13, 2002	0.1050
June 14, 2002	0.1050
March 14, 2002	0.1050
2001	0.42 USD
Dec. 14, 2001	0.1050
Sept. 14, 2001	0.1050
June 14, 2001	0.1050
March 14, 2001	0.1050
2000	0.42 USD
Dec. 14, 2000	0.1050
Sept. 14, 2000	0.1050
June 14, 2000	0.1050
March 14, 2000	0.1050
1999	0.38 USD
Dec. 14, 1999	0.1050
Sept. 14, 1999	0.0900
June 14, 1999	0.0900
March 12, 1999	0.0900
1998	0.46 USD
Dec. 14, 1998	0.0900
Sept. 14, 1998	0.0750
June 12, 1998	0.1500
March 13, 1998	0.1500
1997	0.48 USD
Dec. 12, 1997	0.1500
Sept. 12, 1997	0.1100
June 13, 1997	0.1100
March 14, 1997	0.1100
1996	0.38 USD
Dec. 13, 1996	0.1100
Sept. 13, 1996	0.0900
June 14, 1996	0.0900
March 14, 1996	0.0900
1995	0.32 USD
Dec. 14, 1995	0.0900
Sept. 14, 1995	0.0750
June 14, 1995	0.0750
March 14, 1995	0.0750
1994	0.57 USD
Dec. 14, 1994	0.1500
Sept. 14, 1994	0.1400
June 14, 1994	0.1400
March 14, 1994	0.1400
1993	0.56 USD
Dec. 14, 1993	0.1400
Sept. 14, 1993	0.1400
June 14, 1993	0.1400
March 15, 1993	0.1400
1992	0.56 USD
Dec. 14, 1992	0.1400
Sept. 14, 1992	0.1400
June 15, 1992	0.1400
March 13, 1992	0.1400
1991	0.49 USD
Dec. 16, 1991	0.1300
Sept. 16, 1991	0.1200
June 14, 1991	0.1200
March 14, 1991	0.1200
1990	0.48 USD
Dec. 14, 1990	0.1200
Sept. 14, 1990	0.1200
June 14, 1990	0.1200
March 14, 1990	0.1200
1989	0.62 USD
Dec. 14, 1989	0.1000
Sept. 14, 1989	0.1000
June 14, 1989	0.1000
March 14, 1989	0.1000
Jan. 3, 1989	0.2200
1988	0.40 USD
Dec. 14, 1988	0.1000
Sept. 14, 1988	0.1000
June 14, 1988	0.1000
March 14, 1988	0.1000

Yearly aggregated dividends

Dividends

Carnival Corporation & plc
Feb 27, 2026 Upcoming

Dividend
0.15 USD

Historical Split Corporate Actions

No corporate actions available.

Trades

My Trades

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Carnival Corporation & plc - CCL Open Carnival Corporation & plc in new tab

32.3000 USD

32.300 USD

Key Metrics

Growth

Estimates

Dividend

DCF Valuation

DCF Assumptions

DCF Result

Explore Premium Features

About Carnival Corporation & plc - (CCL)

Dividend Yield

Annual Dividends

Next ex. div date

Historical Dividends

Dividends

Historical Split Corporate Actions

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