📊 CCL Key Takeaways
Investment Thesis
Carnival demonstrates strong operational recovery with 44.1% YoY net income growth and healthy 16.8% operating margins, supported by 6.4% revenue expansion. However, severe balance sheet deterioration—including a 2.23x debt-to-equity ratio, dangerous 0.32x current ratio, and $27.4B long-term debt against only $1.9B cash—creates significant financial risk despite adequate interest coverage of 9.5x.
CCL Strengths
- Strong profitability recovery: net income +44.1% YoY, net margin of 10.4%
- Solid operating performance: 16.8% operating margin with 6.4% revenue growth to $26.6B
- Robust free cash flow generation: $2.6B FCF with 9.8% FCF margin and adequate operating cash flow of $6.2B
- Healthy interest coverage ratio of 9.5x demonstrates ability to service debt obligations
CCL Risks
- Critically weak liquidity position: 0.32x current ratio and 0.28x quick ratio indicate severe short-term solvency stress
- Excessive leverage: 2.23x debt-to-equity ratio with $27.4B long-term debt creates significant refinancing and economic downturn risk
- Capital-intensive business model: $3.6B annual capex reduces financial flexibility and limits debt paydown capability
- Cyclical industry exposure: cruise/travel demand vulnerable to economic recession, fuel prices, and operational disruptions
Key Metrics to Watch
- Debt reduction trajectory and debt-to-equity ratio trending toward <2.0x
- Quarterly operating cash flow and free cash flow sustainability
- Current ratio improvement and cash position strengthening above $2B
- Operating margin maintenance above 15% amid potential demand softening
- Debt refinancing schedule and interest rate environment impact on debt service costs
CCL Financial Metrics
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
CCL Profitability Ratios
CCL vs Default Sector
How CARNIVAL CORP compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
CCL Balance Sheet & Liquidity
CCL 5-Year Financial Trend
5-Year Trend Summary: CARNIVAL CORP's revenue has grown significantly by 28% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.06 indicates the company is currently unprofitable.
CCL Growth Metrics (YoY)
CCL Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $7.9B | $1.6B | $1.21 |
| Q2 2025 | $5.8B | $92.0M | $0.07 |
| Q1 2025 | $5.4B | -$78.0M | $-0.06 |
| Q3 2024 | $6.9B | -$26.0M | $-0.02 |
| Q2 2024 | $4.9B | $92.0M | $0.07 |
| Q1 2024 | $4.4B | -$214.0M | $-0.17 |
| Q3 2023 | $4.3B | -$26.0M | $-0.02 |
| Q2 2023 | $2.4B | -$407.0M | $-0.32 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
CCL Capital Allocation
CCL SEC Filings
Access official SEC EDGAR filings for CARNIVAL CORP (CIK: 0000815097)
📋 Recent SEC Filings
❓ Frequently Asked Questions about CCL
What is the AI rating for CCL?
CARNIVAL CORP (CCL) has an AI rating of HOLD with 62% confidence, based on fundamental analysis of SEC EDGAR filings.
What are CCL's key strengths?
Strong profitability recovery: net income +44.1% YoY, net margin of 10.4%. Solid operating performance: 16.8% operating margin with 6.4% revenue growth to $26.6B.
What are the risks of investing in CCL?
Critically weak liquidity position: 0.32x current ratio and 0.28x quick ratio indicate severe short-term solvency stress. Excessive leverage: 2.23x debt-to-equity ratio with $27.4B long-term debt creates significant refinancing and economic downturn risk.
What is CCL's revenue and growth?
CARNIVAL CORP reported revenue of $26.6B.
Does CCL pay dividends?
CARNIVAL CORP does not currently pay dividends.
Where can I find CCL SEC filings?
Official SEC filings for CARNIVAL CORP (CIK: 0000815097) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CCL's EPS?
CARNIVAL CORP has a diluted EPS of $2.02.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.