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CUKCarnival Corporation & plc
$27.47$36.5B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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CUK logo

Carnival Corporation & plc

CUK
NYSE · Leisure
$27.47
At close - Oct 16, 4:00 PM EDT - USD
Market Cap$36.52B
P/E13.6x
52W High$33.72
Volume-
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q1

Cyclical Recovery Faces Structural Margin Headwinds

Carnival Corporation is navigating a transition from post-pandemic recovery to a mature growth phase, characterized by decelerating revenue expansion and persistent cost pressures. While the company has successfully reduced its debt-to-equity ratio from 4.79 i...

GrowthDecelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsNeutral
Explore valuation models
MARKET ACTION

CUK price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

12/12 Beats

EPS beat 12 of last 12 quarters

02

Valuation risk

-42% Peers

P/E is 42% below peer median

03

Market leadership

RS 61 · Avg

Average momentum (RS Rating: 61)

04

Trend Check

N/A

Trend data unavailable

Next CatalystEstimated earnings · Jun 27
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has normalized to 6.1% in 2026Q1, while gross margins have contracted to 24.8% from a 2025Q3 peak of 37.4% due to elevated operating costs.

Analyst Consensus
Buy(36 analysts)
19 Buy13 Hold4 Sell

The Bull Case

Upside Catalysts

Undervalued stock potential

Carnival Corporation appears undervalued with a DCF intrinsic value of $56.39 compared to the current market price of $27.30, suggesting significant upside potential.

Strong market position

As the world's largest leisure travel company with a fleet of 94 ships across nine brands, Carnival operates an unmatched multi-brand strategy with 13.5 million guests carried in FY2024.

Attractive valuation metrics

Carnival shares trade at a P/E ratio of 14.7, representing a substantial discount to the S&P 500's multiple of 25.7, making it an attractive investment opportunity.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 10/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CUK-9.97%
S&P 500 (^GSPC)+11.24%
1-Year Return
CUK+3.76%
S&P 500 (^GSPC)+13.13%
3-Year Return
CUK+169.73%
S&P 500 (^GSPC)+80.75%
5-Year Return
CUK+36.46%
S&P 500 (^GSPC)+68.64%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
13.6x
Forward P/EExpansion
12.4x
EV/EBITDA33rd %ile
8.6x
FCF YieldCash Flow
7.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
13.6x
16.0x
50th· Fair
EV/EBITDA
8.6x
9.8x
33rd· Fair
Price/FCF
14.0x
17.1x
33rd· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$24.71-10.0%
Base (Fair)$47.13+71.6%
Bull$74.04+169.5%
$24.71 Bear$47.13 Base$74.04 Bull
Current Market Price: $27.47
Trades at a 41.7% discount to Base DCF ($47.13)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$26.62B+6.4% YoY
Net income
$2.76B+44.1% YoY
Free cash flow
$2.61B+101.0% YoY
Operating margin
16.8%+2.6 pts YoY
ROIC (TTM)8.9%
Avg ROIC 5Y-
ROE (TTM)25.6%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate12/12 (100%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026Latest
Mar 27, 2026
$0.20+8.4%
vs $0.18
$6.2B+0.4%
vs $6.1B
Q1 2026
Jan 27, 2026
$0.30+62.6%
vs $0.18
$6.3B+3.1%
vs $6.1B
Q4 2025
Sep 29, 2025
$1.43+8.3%
vs $1.32
$8.2B+28.2%
vs $6.4B
Q3 2025
Jun 24, 2025
$0.35+42.0%
vs $0.25
$2.1B-73.7%
vs $8.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

1 Stories
PRNewsWire·Jul 30, 2026
Bookings Open for Zuiderdam's First Europe Voyages Following Holland America Evolution

Cruises on newly renovated ship showcase nearly every side of Europe, from the sun-soaked Mediterranean and Atlantic coastlines to Norway's fjords, Iceland and more SEATTLE, July 30, 2026 /PRNewswire/ -- Holland America Line has opened bookings for Zuiderdam's first collection of voyages following the ship's transformation through Holland America Evolution, the cruise line's largest fleet investment in its 153-year history. The ship's enhancements will debut April 2, 2028, as Zuiderdam returns to service in the Mediterranean before spending the summer sailing from Amsterdam on voyages throughout Northern Europe and Iceland.

Filtered for Carnival Corporation & plcMore Headlines
04

Compare before deciding

Benchmark CUK against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Carnival Corporation & plc (CUK)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CUK logoCUKCarnival Corporation & plcCurrent
$27.47$36.52B13.606.4%10.37%25.63%—
RCL logoRCLRoyal Caribbean Cruises Ltd.
$276.48$74.15B17.718.8%23.56%42.92%—
NCLH logoNCLHNorwegian Cruise Line Holdings Ltd.
$15.10$6.93B16.783.67%7.49%32.35%—
CCL logoCCLCarnival Corporation & plc
$26.11$35.76B12.936.4%11.37%23.89%—
HLT logoHLTHilton Worldwide Holdings Inc.
$349.63$78.69B57.137.74%12.69%——
MAR logoMARMarriott International, Inc.
$390.71$101.88B41.174.33%9.62%——

Compare CUK vs Peers

Carnival Corporation & plc (CUK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RCL

Most directly comparable listed peer for CUK.

Scale Benchmark

vs DIS

Larger-name benchmark to compare CUK against a more recognizable public peer.

Peer Set

Compare Top 5

vs RCL, NCLH, CCL, HLT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CUK SEC Filings & Documents

Carnival Corporation & plc (CUK) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Apr 20, 2026·SEC

Material company update

Mar 27, 2026·SEC

10-K Annual Reports

2
FY 2026

Jan 27, 2026·SEC

FY 2025

Jan 27, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Mar 27, 2026·SEC

FY 2025

Sep 29, 2025·SEC

FY 2025

Jun 26, 2025·SEC

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CUK Frequently Asked Questions

Carnival Corporation & plc (CUK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Carnival Corporation & plc's revenue?

Carnival Corporation & plc (CUK) reported $26.98B in revenue for fiscal year 2025. This represents a 1119% increase from $2.21B in 1996.

How fast is Carnival Corporation & plc growing?

Carnival Corporation & plc (CUK) grew revenue by 6.4% over the past year. This is steady growth.

Is CUK profitable?

Yes, Carnival Corporation & plc (CUK) is profitable, generating $3.10B in net income for fiscal year 2025 (10.4% net margin).

Dividend & Returns
What is CUK's return on equity?

Carnival Corporation & plc (CUK) has a return on equity (ROE) of 25.6%. This is excellent, indicating efficient use of shareholder capital.

What is Carnival Corporation & plc's free cash flow?

Carnival Corporation & plc (CUK) generated $2.99B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CUK back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →