Reading the tape
NYSE: CCL
Carnival Corporation & plc
Consumer Cyclical · Leisure
Market Cap
$35.56B
52w High
$34.03
52w Low
$19.06
P/E
11.43
Volume
29.58M
Outstanding Shares
1.39B
Price vs Fundamentals
Why The Stock Is Moving
Fundamentals are supporting the moveHigh confidence
1Y Price: 31.24%Revenue (TTM): 6.1%FCF (TTM): 50.43%P/FCF: 4th pct
What changed
The stock rose 31.24% over the last year. Revenue grew 6.1% over the trailing twelve months. Operating margin moved from 15.11% to 16.85%. Free cash flow grew 50.43% over the trailing twelve months.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum, and the shares are still only around the 4th percentile of their historical P/FCF range.
What would invalidate this read
Operating margin is at 16.85%. Revenue grew 6.1% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Company profile
Carnival Corporation & plc operates as a leisure travel company.
CEOJoshua Ian Weinstein
SectorConsumer Cyclical
IndustryLeisure
Employees160,000
IPO dateJul 24, 1987
Valuation
Forward P/E—
EV/EBITDA8.69
Enterprise value$60.09B
Stock splits
Jun 15, 1998↑ Forward
Every 1 shares became 2
Dec 15, 1994↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth6.11%
Gross margin37.55%▼21.02%vs FY2024
Operating margin16.85%▲17.89%vs FY2024
ROE22.47%▲8.49%vs FY2024
Analyst consensus
RatingBuy
Target price$36.17▲40.90%
28
Buy
17
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jun 23, 2026
Q2 FY26 · EPS est $0.34 · Revenue est $6.68B
View
Dividends
$1.65/shareQuarterlySafeCCL pays a dividend with a 6.43% dividend yield.
Dividend Yield
6.43%
Annual Div / Share
$1.65
TTM $0.15
5yr CAGR
-14.59%
Dividend has been cut
Payout Ratio
6.72%
Safe
Dividend Growth Rate
3yr CAGR
-32.14%
5yr CAGR
-14.59%
10yr CAGR
+2.26%
Dividend Safety
10/10Safe
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2020$0.50-75.0%
2019$2.00+2.6%
2018$1.95+21.9%
2017$1.60+18.5%
2016$1.35+22.7%
2015$1.10+10.0%
2014$1.00+0.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$64/yr
$5/mo
In 5 yrs
$64/yr
$5/mo
In 10 yrs
$64/yr
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$64/yr $5/mo | $64/yr $5/mo | $64/yr $5/mo |
Analysis
Dividend Strengths
No strong strength signal stands out from the latest period pair.
Risks to Watch
Dividend has been reduced
The 5-year dividend CAGR of -14.59% is negative, indicating the payout has been cut over this period.