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Carnival
(NYSE:CCL)
Carnival (CCL) vs. SPDR S&P 500 ETF (SPY)
Carnival Business Overview & Revenue Model
Carnival Key Performance Indicators (KPIs)
Indicates the proportion of available cabins filled, reflecting demand for cruises and operational efficiency in maximizing passenger capacity.
Main Street DataCarnival Earnings Call Summary
Carnival Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.97B | 25.02B | 21.59B | 12.17B | 1.91B | 5.59B |
| Gross Profit | 10.18B | 9.38B | 7.28B | 412.00M | -2.75B | -2.65B |
| EBITDA | 6.75B | 6.23B | 4.37B | -2.20B | -5.69B | -7.12B |
| Net Income | 2.52B | 1.92B | -74.00M | -6.09B | -9.50B | -10.24B |
Balance Sheet | ||||||
| Total Assets | 51.16B | 49.06B | 49.12B | 51.70B | 53.34B | 53.59B |
| Cash, Cash Equivalents and Short-Term Investments | 2.15B | 1.21B | 2.42B | 4.03B | 9.14B | 9.51B |
| Total Debt | 28.65B | 28.88B | 31.89B | 35.88B | 34.61B | 28.38B |
| Total Liabilities | 41.16B | 39.81B | 42.24B | 44.64B | 41.20B | 33.04B |
| Stockholders Equity | 10.01B | 9.25B | 6.88B | 7.06B | 12.14B | 20.55B |
Cash Flow | ||||||
| Free Cash Flow | 2.81B | 1.30B | 997.00M | -6.61B | -7.72B | -9.92B |
| Operating Cash Flow | 5.43B | 5.92B | 4.28B | -1.67B | -4.11B | -6.30B |
| Investing Cash Flow | -2.34B | -4.54B | -2.81B | -4.77B | -3.54B | -3.24B |
| Financing Cash Flow | -2.61B | -2.58B | -5.09B | 3.58B | 6.95B | 18.65B |
Carnival Technical Analysis
Carnival Risk Analysis
Carnival Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $38.74B | 16.24 | 30.02% | ― | 10.81% | 175.74% | |
75 Outperform | $2.25B | 32.32 | 13.16% | 0.73% | 8.51% | 31.24% | |
73 Outperform | $38.56B | 14.95 | 30.02% | ― | 10.81% | 175.74% | |
61 Neutral | $17.51B | 12.51 | -5.96% | 3.09% | 1.71% | -15.50% |
Carnival Corporate Events
On August 6, 2025, Carnival Corporation entered into compensation protection and restrictive covenants agreements with its key executives, including the CEO and CFO. These agreements outline severance terms and restrictive covenants in the event of termination, impacting the company’s executive management structure and potentially influencing stakeholder confidence.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On August 6, 2025, Carnival Corporation entered into compensation protection and restrictive covenants agreements with its Named Executive Officers, including the CEO, CFO, Chief Human Resources Officer, and General Counsel. These agreements outline severance packages and include confidentiality, non-competition, non-disparagement, and non-solicitation covenants, impacting the company’s executive management structure and potentially its operational stability.
The most recent analyst rating on (CCL) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On July 16, 2025, Carnival Corporation closed a private offering of $3.0 billion in senior unsecured notes due 2032, with a 5.75% interest rate. The proceeds will be used to repay borrowings under its senior secured term loan facility and to redeem $2.4 billion of senior unsecured notes due 2027. This transaction is part of Carnival’s strategy to deleverage and manage future debt maturities, with the company having refinanced nearly $11 billion of debt and prepaid $1.1 billion of debt this year. The notes are guaranteed by Carnival plc and certain subsidiaries, and they include covenants typical of investment-grade debt.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On July 16, 2025, Carnival Corporation closed a private offering of $3.0 billion in senior unsecured notes due 2032, with a 5.75% interest rate. The proceeds will be used to repay a senior secured term loan maturing in 2028 and redeem $2.4 billion of senior unsecured notes due 2027. This move is part of Carnival’s strategy to deleverage, manage future debt maturities, and reduce secured debt, continuing its path towards investment-grade credit.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On July 7, 2025, Carnival plc successfully closed a private offering of €1.0 billion in senior unsecured notes due 2031, with an interest rate of 4.125% per year. The proceeds from this offering will be used to repay existing borrowings under Carnival Corporation’s senior secured term loan facilities maturing in 2027 and 2028. This transaction is part of Carnival’s strategy to deleverage, reduce interest expenses, and simplify its capital structure, moving closer to achieving an investment-grade credit rating.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On July 7, 2025, Carnival plc closed a private offering of €1.0 billion in senior unsecured notes due 2031, with an interest rate of 4.125% per year. The proceeds will be used to repay borrowings under senior secured term loan facilities maturing in 2027 and 2028. This transaction is part of Carnival’s strategy to deleverage, reduce interest expenses, and simplify its capital structure. The notes are guaranteed by Carnival Corporation and certain subsidiaries, and were offered to qualified institutional buyers and non-U.S. investors. This move is seen as a step towards achieving an investment-grade credit rating, reflecting Carnival’s ongoing efforts to strengthen its financial position.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On June 13, 2025, Carnival Corporation and Carnival plc announced the successful arrangement of a new $4.5 billion multi-currency revolving credit facility, replacing the existing facility of Carnival Holdings (Bermuda) II Limited. This new agreement, which matures in 2030, includes an accordion feature for up to $1.0 billion of additional commitments and is expected to enhance the company’s liquidity, aiding in debt reduction efforts. The facility is unsecured and guaranteed by the same subsidiaries that guarantee the company’s senior secured term loan facilities, reflecting confidence in Carnival’s continued performance and strong banking relationships.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On June 13, 2025, Carnival Corporation and Carnival plc announced the successful arrangement of a new $4.5 billion multi-currency revolving credit facility, replacing the existing facility. This new agreement, which matures in June 2030, includes an accordion feature for additional commitments and reflects confidence in Carnival’s financial performance and banking relationships. The new facility is unsecured and guaranteed by the same subsidiaries that back the company’s senior secured term loan facilities, enhancing liquidity and supporting debt reduction efforts.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On May 21, 2025, Carnival Corporation closed a private offering of $1.0 billion in senior unsecured notes due 2031, with an interest rate of 5.875%. The proceeds will be used to redeem $993 million of the company’s 7.625% senior unsecured notes due 2026, continuing its strategy to reduce interest expenses and manage future debt maturities. This transaction is expected to reduce net interest expenses by over $20 million through the maturity date of the 2026 notes. The notes are guaranteed by Carnival plc and certain subsidiaries and include investment-grade covenants, offering a strategic advantage in managing the company’s financial obligations.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
On May 21, 2025, Carnival Corporation closed a private offering of $1.0 billion in senior unsecured notes due 2031, with a 5.875% interest rate. The proceeds will be used to redeem $993 million of the company’s 7.625% senior unsecured notes due 2026, continuing its strategy to reduce interest expenses and manage debt maturities. The transaction is expected to save over $20 million in net interest expenses by the maturity date of the 2026 notes. The notes are guaranteed by Carnival plc and certain subsidiaries and include investment-grade covenants.
The most recent analyst rating on (CCL) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.