Carnival Corporation (CCL) vs Trip.com Group Limited Sponsored ADR (TCOM)

Carnival Corporation and Trip.com Group Limited Sponsored ADR are both Travel Services companies. Carnival Corporation is the larger, with a market value of $30.1B against $26.0B — 1.2× the size. Trip.com Group Limited Sponsored ADR trades at the lower P/E: 5.8× against 9.6×. Trip.com Group Limited Sponsored ADR grew revenue faster over the last twelve months: 22.0% against 5.16%. Trip.com Group Limited Sponsored ADR has the higher net margin (36.4% vs 11.2%) and the lower return on invested capital (6.10% vs 7.83%). Both pay a dividend; Carnival Corporation yields more (0.22% vs 0.09%). Across the 22 metrics below, Trip.com Group Limited Sponsored ADR leads on 14 and Carnival Corporation on 8.

Valuation

Metric CCL TCOM Travel Services median
P/E 9.63 5.82 17.52
P/S 1.13 2.60 2.24
P/B 2.37 1.01 2.61
Price to free cash flow 9.57 3.16 12.40
EV/EBITDA 7.18 11.05 12.77
EV/Sales 1.96 1.78 2.38
Earnings yield 10.38% 17.17% 3.30%
Free cash flow yield 10.45% 31.60% 3.22%

Profitability

Metric CCL TCOM Travel Services median
Gross margin 39.74% 80.05% 67.64%
Operating margin 16.35% 16.12% 15.06%
Net margin 11.23% 36.39% 6.64%
Free cash flow margin 11.77% 0.00% 3.21%
Return on equity 26.69% 0.00% 7.53%
Return on assets 5.93% 9.52% 3.40%
Return on invested capital 7.83% 6.10% 4.65%

Growth

Metric CCL TCOM Travel Services median
Revenue growth (TTM) 5.16% 21.96% 13.25%
EPS growth (last fiscal year) 40.28% 101.18% —
Revenue growth, 5-year CAGR 36.61% 23.22% 28.66%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CCL TCOM Travel Services median
Debt to equity 1.92 0.16 0.32
Current ratio 0.33 1.33 1.20
Net debt to EBITDA 3.34 (2.81) 1.07

Dividend

Metric CCL TCOM Travel Services median
Dividend yield 0.22% 0.09% —
Payout ratio 0.00 0.00 0.00

Size

Metric CCL TCOM Travel Services median
Market cap 30.10b 25.95b 4.41b

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