Carnival Corporation
CCL Consumer Cyclical Travel Services
Carnival Corporation’s revenue for fiscal 2025 (year ended November 2025) was $26.6 billion, up 6.40% from fiscal 2024. In the quarter to August 2026, revenue grew 3.46%, EPS was flat, free cash flow fell 3.26% and total debt fell 9.70%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years, operating cash flow growth for five.
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Carnival Corporation (CCL) EV/FCF
As of 9 October 2026, Carnival Corporation (CCL) trades at a EV/FCF of 18.4×. Over the past ten years it has ranged from −177× (August 2023) to 647× (January 2020); the current reading is higher than 36% of that period.
EV/FCF, daily
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Annual newest first
| Period | EV/FCF | Change |
|---|---|---|
| FY2025 | 20.0× | (54.26%) |
| FY2024 | 43.8× | 24.22% |
| FY2023 | 35.3× | — |
| FY2022 | −6.1× | — |
| FY2021 | −5.6× | — |
| FY2020 | −3.1× | — |
| FY2019 | 576× | 2,359.53% |
| FY2018 | 23.4× | (0.08%) |
| FY2017 | 23.4× | 5.38% |
| FY2016 | 22.2× | 7.33% |
Quarterly newest first
| Period | EV/FCF | Change |
|---|---|---|
| Aug 2026 | 17.3× | (8.23%) |
| May 2026 | 18.9× | (2.72%) |
| Feb 2026 | 19.4× | (3.20%) |
| Nov 2025 | 20.0× | (0.19%) |
| 43 more quarters | Free account |
Against its own ten years
EV/FCF against peers
| Company | EV/FCF |
|---|---|
| RCL Royal Caribbean Cruises Ltd. compare | −235× |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | −18.5× |
| TCOM Trip.com Group Limited Sponsored ADR compare | 2.1× |
| EXPE Expedia Group, Inc. compare | 6.9× |
| BKNG Booking Holdings Inc. compare | 13.2× |
| CCL Carnival Corporation | 18.4× |
| ABNB Airbnb, Inc. compare | 18.9× |
| VIK Viking Holdings Ltd. compare | 33.4× |
| MMYT MakeMyTrip Limited compare | 43.8× |
What EV/FCF is
EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))
More on CCL
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement