Company Valuation: Carnival Corporation Ltd.

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 19,649 12,293 18,785 32,663 33,595 36,419 - -
Change - -37.44% 52.82% 73.88% 2.85% 8.41% - -
Enterprise Value (EV) 1 43,936 42,810 46,942 58,927 58,307 59,559 58,504 57,224
Change - -2.56% 9.65% 25.53% -1.05% 2.15% -1.77% -2.19%
P/E -2.08x -1.92x -251x 17.7x 12.8x 12x 10.1x 8.64x
PBR 1.65x 1.77x 2.77x 3.6x 2.75x 2.47x 2.23x 1.9x
PEG - 0x 2.5x -0x 0.3x 1.22x 0.5x 0.5x
Capitalization / Revenue 10.3x 1.01x 0.87x 1.31x 1.26x 1.32x 1.27x 1.22x
EV / Revenue 23x 3.52x 2.17x 2.36x 2.19x 2.15x 2.04x 1.92x
EV / EBITDA -9.05x -20.3x 11.1x 9.64x 8.12x 8.31x 7.54x 6.9x
EV / EBIT -6.2x -9.78x 24x 16.5x 13x 13.9x 12.3x 11.1x
EV / FCF -5.69x -6.48x 47.5x 45.4x 22.4x 16x 15x 12.8x
FCF Yield -17.6% -15.4% 2.11% 2.2% 4.47% 6.24% 6.68% 7.83%
Dividend per Share 2 - - - - - 0.5986 0.7482 1.001
Rate of return - - - - - 2.25% 2.81% 3.76%
EPS 2 -8.46 -5.16 -0.06 1.44 2.02 2.219 2.637 3.078
Distribution rate - - - - - 27% 28.4% 32.5%
Net sales 1 1,908 12,168 21,593 25,021 26,622 27,642 28,632 29,856
EBITDA 1 -4,856 -2,104 4,231 6,110 7,182 7,165 7,759 8,294
EBIT 1 -7,089 -4,379 1,956 3,574 4,483 4,290 4,741 5,157
Net income 1 -9,501 -6,093 -74 1,916 2,760 3,049 3,584 3,954
Net Debt 1 24,287 30,517 28,157 26,264 24,712 23,140 22,085 20,805
Reference price 2 17.62 9.93 15.06 25.43 25.78 26.59 26.59 26.59
Nbr of stocks (in thousands) 1,131,464 1,258,272 1,265,705 1,298,971 1,313,149 1,369,649 - -
Announcement Date 12/20/21 12/21/22 12/21/23 12/20/24 12/19/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.98x2.15x8.31x2.25% 36.42B
17.05x5.1x13.05x1.69% 78.36B
12.78x2.42x9.53x-.--% 9.06B
154.12x2.38x14.68x - 1.72B
Average 48.98x 3.01x 11.39x 1.31% 31.39B
Weighted average by Cap. 17.15x 4.01x 11.44x 1.73%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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