LSE:CCL

Stock Analysis Report

Executive Summary

Carnival Corporation & plc operates as a leisure travel company.

Snowflake

Fundamentals

Established dividend payer with proven track record.


Similar Companies

Share Price & News

How has Carnival &'s share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.6%

LSE:CCL

3.3%

GB Hospitality

0.4%

GB Market


1 Year Return

-26.4%

LSE:CCL

8.9%

GB Hospitality

-6.2%

GB Market

CCL underperformed the Hospitality industry which returned 8.9% over the past year.

CCL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -6.2% over the past year.


Share holder returns

CCLIndustryMarket
7 Day-2.6%3.3%0.4%
30 Day-5.7%0.3%-5.2%
90 Day-12.5%10.8%-2.3%
1 Year-23.5%-26.4%13.0%8.9%-1.7%-6.2%
3 Year3.7%-5.6%26.0%12.7%16.8%2.9%
5 Year76.3%52.9%63.0%37.4%24.2%-2.3%

Price Volatility Vs. Market

How volatile is Carnival &'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Carnival & undervalued based on future cash flows and its price relative to the stock market?

2%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Carnival &'s share price is below the future cash flow value, but not at a moderate discount (< 20%).

Carnival &'s share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Carnival & is good value based on earnings compared to the GB Hospitality industry average.

Carnival & is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.


Price Based on Expected Growth

Carnival & is poor value based on expected growth next year.


Price Based on Value of Assets

Carnival & is good value based on assets compared to the GB Hospitality industry average.


Next Steps

Future Growth

How is Carnival & expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

5.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Carnival &'s revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).

Carnival &'s earnings are expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).

Carnival &'s revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.

Carnival &'s earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.

Carnival &'s earnings growth is expected to exceed the low risk savings rate of 1.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Carnival & is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Carnival & performed over the past 5 years?

19.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Carnival &'s year on year earnings growth rate has been positive over the past 5 years.

Carnival &'s 1-year earnings growth is less than its 5-year average (5.7% vs 19.6%)

Carnival &'s earnings growth has exceeded the GB Hospitality industry average in the past year (5.7% vs 3.5%).


Return on Equity

Carnival & has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Carnival & used its assets more efficiently than the GB Hospitality industry average last year based on Return on Assets.


Return on Capital Employed

Carnival & has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Carnival &'s financial position?


Financial Position Analysis

Carnival &'s short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Carnival &'s long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Carnival &'s level of debt (46.4%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (38.8% vs 46.4% today).

Debt is well covered by operating cash flow (50.3%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 17.7x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.3x debt.


Next Steps

Dividend

What is Carnival &'s current dividend yield, its reliability and sustainability?

4.83%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Carnival &'s pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.05%).

Carnival &'s dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.65%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).


Next Steps

Management

What is the CEO of Carnival &'s salary, the management and board of directors tenure and is there insider trading?

6.1yrs

Average management tenure


CEO

Arnold Donald (64yo)

6.1yrs

Tenure

US$13,506,884

Compensation

Mr. Arnold W. Donald has been President and Chief Executive Officer of Carnival Corporation and Carnival plc since 2013. Mr. Donald is Director of Bank of America Corporation since January 23, 2013. Mr. Do ...


CEO Compensation Analysis

Arnold's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.

Arnold's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

6.1yrs

Average Tenure

60.5yo

Average Age

The average tenure for the Carnival & management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

13.8yrs

Average Tenure

66.5yo

Average Age

The average tenure for the Carnival & board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

SellUS$93,31915 Jan 19
Arnaldo Perez
EntityIndividual
Role
Chief Legal Officer
General Counsel & Company Secretary
Shares2,290
Max PriceUS$40.75
SellUS$2,004,61017 Oct 18
Michael Thamm
EntityIndividual
Role
Unit CEO
Chief Executive Officer of the Costa Group & Carnival Asia
Shares46,290
Max PriceUS$43.31

Ownership Breakdown


Management Team

  • Arnold Donald (64yo)

    CEO, President & Director

    • Tenure: 6.1yrs
    • Compensation: US$13.51m
  • Stein Kruse (60yo)

    Group Chief Executive Officer of Holland America Group & Carnival UK

    • Tenure: 5.7yrs
    • Compensation: US$5.52m
  • Arnaldo Perez (59yo)

    General Counsel & Company Secretary

    • Tenure: 24.0yrs
    • Compensation: US$2.41m
  • Greg Sullivan

    Chief Information Officer

    • Tenure: 0.7yrs
  • Roger Frizzell

    Chief Communications Officer & Senior VP of Corporate Communications

    • Tenure: 6.2yrs
  • David Bernstein (61yo)

    CFO & Chief Accounting Officer

    • Tenure: 12.1yrs
    • Compensation: US$4.56m
  • Michael Thamm (55yo)

    Chief Executive Officer of the Costa Group & Carnival Asia

    • Tenure: 2.7yrs
    • Compensation: US$5.28m
  • Beth Roberts

    Senior Vice President of Investor Relations

    • Tenure: 0.0yrs
  • Jerry Montgomery (62yo)

    Chief Human Resources Officer

    • Tenure: 8.4yrs
  • Peter Anderson

    Chief Ethics & Compliance Officer

    • Tenure: 0.0yrs

Board Members

  • Arnold Donald (64yo)

    CEO, President & Director

    • Tenure: 6.1yrs
    • Compensation: US$13.51m
  • Micky Arison (69yo)

    Chairman of the Board

    • Tenure: 28.8yrs
    • Compensation: US$1.10m
  • Richard Glasier (73yo)

    Director

    • Tenure: 15.1yrs
    • Compensation: US$323.18k
  • Laura Weil (62yo)

    Non-Executive Director

    • Tenure: 12.6yrs
    • Compensation: US$284.95k
  • Stuart Subotnick (77yo)

    Director

    • Tenure: 32.1yrs
    • Compensation: US$303.47k
  • Randy Weisenburger (61yo)

    Senior Independent & Presiding Director

    • Tenure: 2.1yrs
    • Compensation: US$339.95k
  • Debra Kelly-Ennis (62yo)

    Director

    • Tenure: 7.3yrs
    • Compensation: US$293.68k
  • David Dingle (61yo)

    Chairman of Carnival Uk

    • Tenure: 4.8yrs
  • John Parker (77yo)

    Director

    • Tenure: 16.3yrs
    • Compensation: US$290.39k
  • Jonathon Band (69yo)

    Director

    • Tenure: 9.3yrs
    • Compensation: US$320.26k

Company Information

Carnival Corporation & Plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Carnival Corporation & Plc
  • Ticker: CCL
  • Exchange: LSE
  • Founded: 1972
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Market Cap: US$19.964b
  • Listing Market Cap: US$16.269b
  • Shares outstanding: 786.00m
  • Website: https://www.carnivalcorp.com

Number of Employees


Location

  • Carnival Corporation & Plc
  • 3655 NW 87th Avenue
  • Miami
  • Florida
  • 33178
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CCLNYSE (New York Stock Exchange)YesCorporation Common StockUSUSDJul 1987
CCL1 NBMV (Bolsa Mexicana de Valores)YesCorporation Common StockMXMXNJul 1987
0EV1LSE (London Stock Exchange)YesCorporation Common StockGBUSDJul 1987
CVC1DB (Deutsche Boerse AG)YesCorporation Common StockDEEURJul 1987
CCLLSE (London Stock Exchange)PLC Ordinary SharesGBGBPJan 2003
POH1DB (Deutsche Boerse AG)PLC Ordinary SharesDEEURJan 2003
CCLLBATS-CHIXE (BATS 'Chi-X Europe')PLC Ordinary SharesGBGBPJan 2003
CUKP.FOTCPK (Pink Sheets LLC)PLC Ordinary SharesUSUSDJan 2003
CCL NBMV (Bolsa Mexicana de Valores)PLC Ordinary SharesMXMXNJan 2003
CUKNYSE (New York Stock Exchange)ADS EACH REP 1 ORD USD1.66USUSDJan 2003
POH3DB (Deutsche Boerse AG)ADS EACH REP 1 ORD USD1.66DEEURJan 2003

Biography

Carnival Corporation & plc operates as a leisure travel company. As of January 17, 2019, the company operated 105 cruise ships with 242,000 lower berths visiting approximately 700 ports under the Carnival  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 20:45
End of Day Share Price2019/08/23 00:00
Earnings2019/05/31
Annual Earnings2018/11/30


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.