CCL

NYSE

Carnival Corp Ltd.

Consumer Discretionary, Hotels, Resorts & Cruise Lines

$28.99

close 7 Aug 2026

+1.33%

52-week change

$39.71B

market cap

$23.45

$34.03

52-week range

Expected price

$31.37 – $38.34

Current price

$28.99

Signal

Could be undervalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)12.94x

P/S (TTM)1.45x

P/B3.06x

EV/EBITDA (TTM)8.51x

FCF yield (TTM)8.06%

PEG (TTM, GAAP)—

Context

P/E, own 5-year average19.64x

P/E, sector median22.78x*

Price at 5-year median P/E$35.05*

Indicated dividend yield2.07%

Forward — analyst consensus

Forward P/E (FY2026)12.92x*

Forward P/E (FY2027)10.99x

Forward PEG0.74*

Consensus EPS FY2026 (26 analysts)$2.24

EPS growth (FY2026→FY2027)17.56%

Revenue growth (FY2026)3.81%

Street view

Price target (mean)$35.55*

Target upside22.62%

Ratings (buy / hold / sell)23 / 7 / 0

FY2026 EPS revisions, 30d (up / down)5 / 1

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 31 May 2026, filed 26 Jun 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

10Y CAGR +1.48%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$28.99

Cash & equivalents$2.24B

Total debt$24.89B

Shares outstanding1.37B

Result

DCF price per share$23.68

Current price$28.99

Margin of safety-18.31%

PV of years 1–10$23.09B

PV of terminal value$31.99B

Equity value$32.43B

Market-implied growth+3.07%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$3.25B	$3.30B	$3.34B	$3.39B	$3.44B	$3.49B	$3.55B	$3.60B	$3.65B	$3.71B	$69.07B
PV	$3.01B	$2.83B	$2.65B	$2.49B	$2.34B	$2.20B	$2.07B	$1.94B	$1.83B	$1.72B	$31.99B

period to 31 May 2026, filed 26 Jun 2026, close 7 Aug 2026