Carnival Corporation & Valuation

Q: What is the Fair Price of POH1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

POH1 (€21.85) is trading below our estimate of [[fair value]] (€59.93)

Is POH1 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 POH1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: POH1 (€21.85) is trading below our estimate of fair value (€59.93)

Significantly Below Fair Value: POH1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for POH1?

Key metric: As POH1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for POH1. This is calculated by dividing POH1's market cap by their current earnings.
What is POH1's PE Ratio?
PE Ratio	20.9x
Earnings	US$1.57b
Market Cap	US$32.37b

POH1 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.5x
Enterprise Value/EBITDA	10.4x
PEG Ratio	1.1x

Price to Earnings Ratio vs Peers

How does POH1's PE Ratio compare to its peers?

The above table shows the PE ratio for POH1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	1.7x
003636789 Koninklijke Maatschappij voor Dierkunde van Antwerpen vzw	0.0002x	n/a	€1.0k
TRH TR Hotel Jardin Del Mar	0.4x	n/a	€300.0k
BNAT Banat Estival 2002 SA Olimp	0.04x	n/a	RON 603.7k
IFA LS Invest	6.5x	n/a	€293.6m
POH1 Carnival Corporation &	20.9x	19.4%	€32.4b

Price-To-Earnings vs Peers: POH1 is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the peer average (1.7x).

Price to Earnings Ratio vs Industry

How does POH1's PE Ratio compare vs other companies in the European Hospitality Industry?

10 Companies	Price / Earnings	Estimated Growth	Market Cap

10 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: POH1 is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the European Hospitality industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is POH1'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.

POH1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	20.9x
Fair PE Ratio	38.9x

Price-To-Earnings vs Fair Ratio: POH1 is good value based on its Price-To-Earnings Ratio (20.9x) compared to the estimated Fair Price-To-Earnings Ratio (38.9x).

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.