Carnival Corporation & plc

BUL:CVC1 Stock Report

Market Cap: €31.1b

Carnival Corporation & Valuation

Is CVC1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CVC1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CVC1 (€24.82) is trading below our estimate of fair value (€26.53)

Significantly Below Fair Value: CVC1 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CVC1?

Key metric: As CVC1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CVC1. This is calculated by dividing CVC1's market cap by their current earnings.
What is CVC1's PE Ratio?
PE Ratio17.1x
EarningsUS$1.92b
Market CapUS$32.46b

Price to Earnings Ratio vs Peers

How does CVC1's PE Ratio compare to its peers?

The above table shows the PE ratio for CVC1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.9x
SHB Sofia Hotel Balkan AD
71.4xn/aлв236.9m
TCOM Trip.com Group
20.7x9.4%US$47.6b
AMS Amadeus IT Group
23.5x10.7%€29.8b
RCL Royal Caribbean Cruises
24x18.8%US$63.9b
CVC1 Carnival Corporation &
17.1x14.8%€32.5b

Price-To-Earnings vs Peers: CVC1 is good value based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (22.7x).

Price to Earnings Ratio vs Industry

How does CVC1's PE Ratio compare vs other companies in the European Hospitality Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CVC1 17.1xIndustry Avg. 17.5xNo. of Companies16PE01224364860+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CVC1 is good value based on its Price-To-Earnings Ratio (17.1x) compared to the European Hospitality industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is CVC1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CVC1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CVC1's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CVC1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€28.04
0%
15.6%€33.67€13.47n/a21
Dec ’25n/a
€24.00
0%
14.3%€27.68€13.36n/a22
Nov ’25n/a
€22.75
0%
15.5%€26.13€12.97n/a21
Oct ’25n/a
€21.13
0%
15.3%€25.30€12.65n/a20
Sep ’25n/a
€20.65
0%
15.6%€25.63€11.90n/a22
Aug ’25n/a
€20.75
0%
16.3%€25.84€12.00n/a22
Jul ’25n/a
€21.02
0%
16.8%€26.16€12.15n/a20
Jun ’25n/a
€19.69
0%
17.1%€25.93€12.04n/a22
May ’25€13.84
€20.17
+45.7%
16.5%€26.28€12.20n/a22
Apr ’25n/a
€20.13
0%
15.6%€25.49€12.05n/a21
Mar ’25n/a
€19.33
0%
17.9%€25.36€11.99n/a21
Feb ’25n/a
€19.21
0%
18.3%€25.27€11.95n/a20
Jan ’25n/a
€18.83
0%
21.7%€22.65€6.34n/a19
Dec ’24n/a
€16.42
0%
23.9%€22.96€6.43n/a21
Nov ’24n/a
€17.09
0%
23.6%€23.66€6.62n/a21
Oct ’24€13.37
€17.40
+30.1%
24.9%€23.65€6.62n/a20
Sep ’24n/a
€16.84
0%
25.0%€22.89€6.41n/a20
Aug ’24n/a
€16.40
0%
25.4%€22.46€6.29n/a19
Jul ’24n/a
€16.04
0%
25.6%€22.91€6.41n/a17
Jun ’24n/a
€11.43
0%
29.3%€20.51€6.34n/a18
May ’24n/a
€10.78
0%
31.0%€19.97€6.17€13.8419
Apr ’24€9.39
€11.00
+17.2%
32.7%€20.28€6.27n/a17
Mar ’24n/a
€10.70
0%
32.8%€20.53€6.35n/a19
Feb ’24€9.88
€10.45
+5.8%
32.9%€20.24€6.26n/a19
Jan ’24n/a
€10.55
0%
36.8%€20.62€5.62n/a18
Dec ’23n/a
€12.16
0%
55.7%€34.87€5.81n/a20

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/28 17:35
End of Day Share Price 2024/12/09 00:00
Earnings2024/11/30
Annual Earnings2024/11/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Carnival Corporation & plc is covered by 48 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John StaszakArgus Research Company
Ishan MajumdarBaptista Research
Brandt MontourBarclays