| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 91 | 10.2x | 17.8x | Top tier | |
Growth | 61 | 5.2% | 7.1% | Around median | |
Quality | 69 | 11.2% | 4.5% | Top tier | |
Safety | 46 | 3.4x | 2.6x | Around median | |
Capital Return | 90 | — | 2.12% | Top tier | |
Momentum | 27 | -12.1% | 2.9% | Bottom tier | |
Sentiment | 72 | 17 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Carnival Corporation & plc operates a global portfolio of cruise lines and generates revenue from cruise tickets and onboard spending. The portfolio includes brands such as Carnival Cruise Line, Princess Cruises, Holland America Line, and AIDA, supported by private destination assets and a land-and-sea ecosystem in Alaska that includes eight lodges, trains, and buses. The company aims to increase pricing and onboard spending through revenue management, personalization, and marketing, alongside measured fleet growth and upgrades to existing ships; its order book reached ten ships, including five for Carnival Cruise Line, three Princess Cruises ships scheduled for delivery in 2035, 2038, and 2039, and two for AIDA.
In Q2 of fiscal 2026, Carnival reported revenue of $6.7 billion, EDGAR net income of $537 million, and earnings per share of $0.39. Management reported adjusted net income of $569 million, up more than 20% year over year, and said that revenue, yields, EBITDA, net income, and customer deposits reached record levels; customer deposits totaled $9 billion. The data did not provide gross profit or gross margin, but cruise costs excluding fuel per available lower berth day remained nearly flat, outperforming March guidance by approximately 250 basis points, while yields increased 2.2% despite an approximately 30% increase in fuel prices.
The operating business mix relies more on the broad reach of its brands and destinations than on any single line: the company operates in Alaska through five brands, 19 ships, and four homeports, while Paradise Collection destinations are expected to receive more than 9 million visits in 2027. Approximately 85% of Caribbean itineraries include at least one exclusive destination, and nearly half visit two or more exclusive destinations. Revenue for the twelve months ended in 2026 was approximately $27.3 billion, with net income of $3.1 billion and earnings per share of approximately $2.21.
The average analyst price target is $35.8, within a wide range of $30 to $42, and the average is approximately 5.2% above the 52-week range high of $34.03, while the range low is $23.45. The "Buy" consensus supports the positive outlook, but the wide dispersion of targets reflects uncertainty related to the reduction in fiscal 2026 yield guidance, geopolitical exposure, and competition in the Caribbean; no published price-to-earnings ratio is available in the data for an additional comparison.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Carnival reported revenue of $6.7 billion, EDGAR net income of $537 million, and earnings per share of $0.39. On the adjusted basis presented by management, net income was $569 million, up more than 20% year over year and $100 million above previous guidance. Yields increased 2.2%, while cruise costs excluding fuel per available lower berth day remained nearly flat despite an approximately 30% increase in fuel prices. Customer deposits also reached a record $9 billion.
Management lowered normalized yield growth guidance by approximately one percentage point to around 2.25% due to the conflict in the Middle East, which continued for more than three months. The impact was concentrated in European cruises, particularly the Mediterranean, and was compounded by higher airfares and lower international flight capacity for guests traveling from North America. The company lowered its Europe occupancy forecast for Q3 fiscal 2026 by approximately two points and estimated the operating impact on earnings per share at approximately $0.14. A one-percentage-point improvement in cruise costs excluding fuel offset this pressure in overall guidance.
Automated analysis for informational purposes only — not investment advice.
At the beginning of Q3 fiscal 2026, 93% of the business was booked, with less inventory available for sale than in the prior year and record prices in every remaining quarter of fiscal 2026. Management expects record yields to continue in the second half of fiscal 2026. Bookings for 2027 reached record-high levels in terms of price and occupancy, while European bookings increased by mid-teens percentages at higher prices. Nevertheless, management did not provide formal yield or cost guidance for 2027.
Carnival completed the extension of the Celebration Key pier in May 2026, providing flexibility to accommodate up to four ships and more than 13,000 guests per day. The company expects the destination to receive 3.5 million visitors in 2027. The RelaxAway Half Moon Cay pier also opened in June 2026 and can now accommodate two large ships while tender service continues for midsized ships, increasing capacity to more than 12,000 guests per day. Carnival can combine both destinations in a single itinerary, adding two distinct beach experiences to the same cruise.
Carnival ordered three new ships for Princess Cruises, scheduled for delivery in 2035, 2038, and 2039, bringing its order book to ten ships. It intends to maintain a pace of adding one to two ships annually while directing more investment toward upgrading the existing fleet. AIDA Bella became the third of seven ships in the AIDA Evolution program, while Holland America Evolution will include six ships beginning with Oosterdam in fall 2027. Management targets returns of at least the high-teens range for guest-experience renovations and says added cabins can recoup their cost in approximately two years.
Net debt to adjusted EBITDA declined from 3.4 times at the end of 2025 to 3.3 times at the end of Q1 fiscal 2026 and then to 3.1 times at the end of Q2 fiscal 2026. The board approved an initial $2.5 billion share repurchase program in March 2026. As of the June 23, 2026 call, the company had repurchased more than 17 million shares for over $450 million. Management expects EBITDA to exceed $7 billion in fiscal 2026, but clarified that a repurchase pace equivalent to $450 million per quarter would exceed its current expectations.
