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Carnival Corporation &

DB:POH3
Snowflake Description

6 star dividend payer and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
POH3
DB
$6B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Carnival Corporation & Plc operates as a leisure travel company. The last earnings update was 68 days ago. More info.


Add to Portfolio Compare Print
  • Carnival Corporation & has significant price volatility in the past 3 months.
POH3 Share Price and Events
7 Day Returns
-35.9%
DB:POH3
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-84.8%
DB:POH3
-48.1%
DE Hospitality
-20.9%
DE Market
POH3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Carnival Corporation & (POH3) -35.9% -71.3% -83.3% -84.8% -87% -84.8%
DE Hospitality -6.8% -31.3% -57.6% -48.1% -63.2% -70.6%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • POH3 underperformed the Hospitality industry which returned -48.1% over the past year.
  • POH3 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
POH3
Industry
5yr Volatility vs Market

Value

 Is Carnival Corporation & undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Carnival Corporation & to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Carnival Corporation &.

DB:POH3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-11-30) in USD $ 1.612120625
Payout Ratio Company Filings (2019-11-30) 4298.9%
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:POH3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 21%) (186.02%))
1.624
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.62
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.624 * 5.44%)
8.44%

Discounted Cash Flow Calculation for DB:POH3 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Carnival Corporation & is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

DB:POH3 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= $1.61 / (8.44% - -0.39%)
$12.58
DB:POH3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:POH3 represents 0.83039x of NYSE:CCL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.83039x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 18.25 x 0.83039
€15.15
Value per share (EUR) From above. €15.15
Current discount Discount to share price of €7.05
= -1 x (€7.05 - €15.15) / €15.15
53.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Carnival Corporation & is available for.
Intrinsic value
>50%
Share price is €7.05 vs Future cash flow value of €15.15
Current Discount Checks
For Carnival Corporation & to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Carnival Corporation &'s share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Carnival Corporation &'s share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Carnival Corporation &'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Carnival Corporation &'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:POH3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-11-30) in USD $4.33
NYSE:CCL Share Price ** NYSE (2020-04-03) in USD $8.49
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Carnival Corporation &.

DB:POH3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CCL Share Price ÷ EPS (both in USD)

= 8.49 ÷ 4.33

1.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carnival Corporation & is good value based on earnings compared to the DE Hospitality industry average.
  • Carnival Corporation & is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Carnival Corporation &'s expected growth come at a high price?
Raw Data
DB:POH3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
-5.7%per year
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:POH3 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 1.96x ÷ -5.7%

-0.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carnival Corporation & earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Carnival Corporation &'s assets?
Raw Data
DB:POH3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-11-30) in USD $37.08
NYSE:CCL Share Price * NYSE (2020-04-03) in USD $8.49
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:POH3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CCL Share Price ÷ Book Value per Share (both in USD)

= 8.49 ÷ 37.08

0.23x

* Primary Listing of Carnival Corporation &.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carnival Corporation & is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Carnival Corporation &'s value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Carnival Corporation & has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Carnival Corporation & expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-5.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Carnival Corporation & expected to grow at an attractive rate?
  • Carnival Corporation &'s earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Carnival Corporation &'s earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Carnival Corporation &'s revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:POH3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:POH3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts -5.7%
DB:POH3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 3.1%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:POH3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:POH3 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-11-30 23,019 1
2022-11-30 23,074 5,787 2,872 6
2021-11-30 20,486 4,962 1,583 14
2020-11-30 14,576 8 -1,834 9
2020-04-05
DB:POH3 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-11-30 20,825 5,475 2,990
2019-08-31 20,499 5,527 3,060
2019-05-31 19,803 5,631 2,988
2019-02-28 19,323 5,601 3,097
2018-11-30 18,881 5,549 3,152
2018-08-31 18,684 5,460 3,205
2018-05-31 18,363 5,560 2,827
2018-02-28 17,951 5,454 2,645
2017-11-30 17,510 5,322 2,606
2017-08-31 17,186 5,322 2,668
2017-05-31 16,768 5,302 2,762
2017-02-28 16,529 5,268 2,989

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Carnival Corporation &'s earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Carnival Corporation &'s revenue is expected to grow by 3.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:POH3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Carnival Corporation & Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:POH3 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-11-30
2022-11-30 5.34 5.34 5.34 1.00
2021-11-30 2.49 4.92 -0.29 6.00
2020-11-30 -2.38 -1.84 -3.07 3.00
2020-04-05
DB:POH3 Past Financials Data
Date (Data in USD Millions) EPS *
2019-11-30 4.33
2019-08-31 4.41
2019-05-31 4.28
2019-02-28 4.41
2018-11-30 4.45
2018-08-31 4.50
2018-05-31 3.94
2018-02-28 3.67
2017-11-30 3.61
2017-08-31 3.68
2017-05-31 3.79
2017-02-28 4.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Carnival Corporation & is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Carnival Corporation &'s future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Carnival Corporation & has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Carnival Corporation & performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Carnival Corporation &'s growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Carnival Corporation &'s year on year earnings growth rate has been positive over the past 5 years.
  • Carnival Corporation &'s 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Carnival Corporation &'s 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
Carnival Corporation &'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Carnival Corporation & Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:POH3 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-11-30 20,825.00 2,990.00 2,480.00
2019-08-31 20,499.00 3,060.00 2,469.00
2019-05-31 19,803.00 2,988.00 2,479.00
2019-02-28 19,323.00 3,097.00 2,463.00
2018-11-30 18,881.00 3,152.00 2,450.00
2018-08-31 18,684.00 3,205.00 2,410.00
2018-05-31 18,363.00 2,827.00 2,384.00
2018-02-28 17,951.00 2,645.00 2,332.00
2017-11-30 17,510.00 2,606.00 2,265.00
2017-08-31 17,186.00 2,668.00 2,233.00
2017-05-31 16,768.00 2,762.00 2,216.00
2017-02-28 16,529.00 2,989.00 2,195.00
2016-11-30 16,389.00 2,779.00 2,197.00
2016-08-31 16,165.00 2,441.00 2,196.00
2016-05-31 15,951.00 2,233.00 2,150.00
2016-02-29 15,834.00 1,850.00 2,109.00
2015-11-30 15,714.00 1,757.00 2,087.00
2015-08-31 15,722.00 1,384.00 2,051.00
2015-05-31 15,786.00 1,409.00 2,049.00
2015-02-28 15,830.00 1,285.00 2,062.00
2014-11-30 15,884.00 1,216.00 2,054.00
2014-08-31 15,823.00 1,385.00 2,039.00
2014-05-31 15,602.00 1,078.00 1,996.00
2014-02-28 15,448.00 1,021.00 1,940.00
2013-11-30 15,456.00 1,055.00 1,879.00
2013-08-31 15,376.00 1,105.00 1,806.00
2013-05-31 15,334.00 1,501.00 1,776.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Carnival Corporation & has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Carnival Corporation & used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Carnival Corporation &'s use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Carnival Corporation &'s performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Carnival Corporation & has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Carnival Corporation &'s financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Carnival Corporation &'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Carnival Corporation &'s short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Carnival Corporation &'s long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Carnival Corporation &'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Carnival Corporation & Company Filings, last reported 4 months ago.

DB:POH3 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-11-30 25,365.00 11,517.00 518.00
2019-08-31 25,295.00 10,757.00 1,153.00
2019-05-31 24,108.00 11,192.00 1,202.00
2019-02-28 24,241.00 11,604.00 649.00
2018-11-30 24,443.00 10,342.00 982.00
2018-08-31 24,654.00 9,638.00 526.00
2018-05-31 23,933.00 9,879.00 1,053.00
2018-02-28 24,382.00 9,583.00 453.00
2017-11-30 24,216.00 9,222.00 395.00
2017-08-31 24,172.00 9,202.00 489.00
2017-05-31 22,964.00 9,448.00 597.00
2017-02-28 22,660.00 9,124.00 437.00
2016-11-30 22,597.00 9,432.00 603.00
2016-08-31 22,900.00 9,435.00 462.00
2016-05-31 22,791.00 9,470.00 519.00
2016-02-29 22,625.00 9,112.00 778.00
2015-11-30 23,771.00 8,825.00 1,397.00
2015-08-31 24,353.00 7,896.00 540.00
2015-05-31 23,252.00 8,309.00 300.00
2015-02-28 23,350.00 9,185.00 281.00
2014-11-30 24,204.00 9,136.00 332.00
2014-08-31 25,157.00 8,916.00 437.00
2014-05-31 24,365.00 9,474.00 345.00
2014-02-28 24,470.00 9,639.00 422.00
2013-11-30 24,556.00 9,586.00 463.00
2013-08-31 24,260.00 10,041.00 982.00
2013-05-31 23,280.00 9,883.00 711.00
  • Carnival Corporation &'s level of debt (45.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (37.8% vs 45.4% today).
  • Debt is well covered by operating cash flow (47.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.9x coverage).
X
Financial health checks
We assess Carnival Corporation &'s financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Carnival Corporation & has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Carnival Corporation &'s current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
23.56%
Current annual income from Carnival Corporation & dividends. Estimated to be 18.99% next year.
If you bought €2,000 of Carnival Corporation & shares you are expected to receive €471 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Carnival Corporation &'s pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Carnival Corporation &'s dividend is above the markets top 25% of dividend payers in Germany (4.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:POH3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:POH3 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-11-30
2022-11-30 2.21 5.00
2021-11-30 1.57 13.00
2020-11-30 1.44 14.00
2020-04-05
DB:POH3 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-16 2.000 8.799
2019-10-14 2.000 4.365
2019-07-11 2.000 4.419
2019-04-18 2.000 3.912
2019-01-17 2.000 3.603
2018-10-17 2.000 3.619
2018-09-05 2.000 3.201
2018-04-11 2.000 3.258
2018-03-02 1.800 2.736
2017-10-19 1.800 2.674
2017-07-19 1.600 2.393
2017-04-07 1.600 2.538
2017-01-19 1.400 2.473
2016-10-20 1.400 2.736
2016-07-14 1.400 3.003
2016-04-14 1.400 2.917
2016-01-14 1.200 2.493
2015-10-16 1.200 2.295
2015-07-16 1.200 2.366
2015-04-16 1.000 2.103
2015-01-13 1.000 2.205
2014-10-14 1.000 2.394
2014-07-16 1.000 2.645
2014-04-22 1.000 2.584
2014-01-16 1.000 2.563
2013-10-15 1.000 2.739
2013-07-17 1.000 2.807
2013-04-17 1.000 2.928
2013-01-17 1.000 2.792
2012-10-09 1.000 2.644
2012-07-11 1.000 2.873
2012-04-12 1.000 3.068
2012-02-10 1.000 3.214
2011-10-11 1.000 3.042
2011-07-13 1.000 3.101
2011-04-13 1.000 2.647
2011-01-20 1.000 2.391
2010-10-19 0.400 0.916
2010-07-14 0.400 1.143
2010-04-14 0.400 1.107
2010-01-21 0.400 1.112
2009-12-18 0.000 0.000
2009-10-01 0.000 0.000
2009-09-22 0.000 0.000
2009-06-30 0.000 0.000
2009-06-18 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Carnival Corporation &'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Carnival Corporation &'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Carnival Corporation & afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Carnival Corporation & has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Carnival Corporation &'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Arnold Donald
COMPENSATION $11,149,514
AGE 64
TENURE AS CEO 6.8 years
CEO Bio

Mr. Arnold W. Donald has been President and Chief Executive Officer of Carnival Corporation and Carnival plc since 2013. Mr. Donald is Director of Bank of America Corporation since January 23, 2013. Mr. Donald is Director of Bank of America California, National Association since 2014 and Bank of America, National Association. He is Global Chair of Cruise Lines International Association, Inc. since January 1, 2017 and it’s Director since January 1, 2017. He is Director of BJC Health System, Inc., Global Velocity, Inc., DHR International, Inc., Donald Danforth Plant Science Center and trustee of Dillard University. He served as an Independent Director of Crown Holdings, Inc. since 1999 until April 25, 2019. He serves as an Independent Director at Russell Brands, LLC since June 2004. He is Executive Advisor partner of Wind Point Advisors, LLC. He was Operating Partner and Director of Atlas Holdings LLC. At the firm, he was responsible for industrial service, trading and distribution. He was President and Chief Executive Officer of The Executive Leadership Council, a professional network of African-American executives of major U.S. companies, from 2010 to 2012. He previously served as President and Chief Executive Officer of the Juvenile Diabetes Research Foundation International from 2006 to 2008. From 2000 to 2005, Mr. Donald was the Chairman of the Board of Merisant Company, a manufacturer and marketer of tabletop sweetener products, including the Equal® and Canderel® brands. He has served as a Director of Carnival Plc. and Carnival Corporation since 2001 and 2001 respectively. From 2000 to 2003, he was also the Chief Executive Officer of Merisant Company. From 1998 to 2000, he was Senior Vice-President of Monsanto Company, a company which develops agricultural products and consumer goods, and President of its nutrition and consumer sector. Prior to that he was President of Monsanto Company’s agricultural sector. He previously served as a Director of Oil-Dri Corporation of America from 1997 to 2013 and The Laclede Group, Inc. from 2003 to 2014. Mr. Donald received a BA degree in Economics from Carleton College in 1976, a BS degree in mechanical engineering from Washington University in St. Louis in 1977 and an MBA from the University of Chicago Graduate School of Business in 1980.

CEO Compensation
  • Arnold's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Arnold's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Carnival Corporation & management team in years:

6.5
Average Tenure
60.5
Average Age
  • The average tenure for the Carnival Corporation & management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Micky Arison

TITLE
Executive Chairman of the Board
COMPENSATION
$1M
AGE
69

Arnold Donald

TITLE
CEO, President & Director
COMPENSATION
$11M
AGE
64
TENURE
6.8 yrs

David Bernstein

TITLE
CFO & Chief Accounting Officer
COMPENSATION
$4M
AGE
61
TENURE
12.8 yrs

Arnaldo Perez

TITLE
General Counsel & Company Secretary
COMPENSATION
$2M
AGE
59
TENURE
24.7 yrs

Stein Kruse

TITLE
Group Chief Executive Officer of Holland America Group & Carnival UK
COMPENSATION
$4M
AGE
60
TENURE
6.3 yrs

Michael Thamm

TITLE
Group Chief Executive Officer of Costa Group & Carnival Asia
COMPENSATION
$5M
AGE
55
TENURE
3.3 yrs

Greg Sullivan

TITLE
Chief Information Officer
TENURE
1.3 yrs

Beth Roberts

TITLE
Senior Vice President of Investor Relations

Peter Anderson

TITLE
Chief Ethics & Compliance Officer
TENURE
0.7 yrs

Roger Frizzell

TITLE
Chief Communications Officer & Senior VP of Corporate Communications
TENURE
6.8 yrs
Board of Directors Tenure

Average tenure and age of the Carnival Corporation & board of directors in years:

14.5
Average Tenure
66.5
Average Age
  • The average tenure for the Carnival Corporation & board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Arnold Donald

TITLE
CEO, President & Director
COMPENSATION
$11M
AGE
64
TENURE
19.3 yrs

Stuart Subotnick

TITLE
Independent Director
COMPENSATION
$311K
AGE
77
TENURE
32.8 yrs

Micky Arison

TITLE
Executive Chairman of the Board
COMPENSATION
$1M
AGE
69
TENURE
29.5 yrs

Richard Glasier

TITLE
Independent Director
COMPENSATION
$320K
AGE
73
TENURE
15.8 yrs

Randy Weisenburger

TITLE
Senior Independent & Presiding Director
COMPENSATION
$347K
AGE
61
TENURE
2.8 yrs

John Parker

TITLE
Independent Director
COMPENSATION
$285K
AGE
77
TENURE
17 yrs

Laura Weil

TITLE
Non-Executive Director
COMPENSATION
$285K
AGE
62
TENURE
13.3 yrs

Jonathon Band

TITLE
Independent Director
COMPENSATION
$316K
AGE
69
TENURE
10 yrs

Helen Deeble

TITLE
Independent Director
COMPENSATION
$285K
AGE
57
TENURE
3.8 yrs

Jason Cahilly

TITLE
Independent Director
COMPENSATION
$296K
AGE
48
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Carnival Corporation &'s management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Carnival Corporation & has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Carnival Corporation & Plc operates as a leisure travel company. The company’s ships visit approximately 700 ports under the Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK), and Cunard brand names. It also provides vacations to various cruise destinations, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches. The company sells its cruises primarily through travel agents and tour operators. It operates in the United States, Canada, Continental Europe, the United Kingdom, Australia, New Zealand, Asia, and internationally. As of January 28, 2020, the company operated 105 ships with 254,000 lower berths. Carnival Corporation & Plc was incorporated in 1972 and is headquartered in Miami, Florida.

Details
Name: Carnival Corporation & Plc
POH3
Exchange: DB
Founded: 1972
$5,738,733,465
747,029,370
Website: http://www.carnivalcorp.com
Address: Carnival Corporation & Plc
3655 NW 87th Avenue,
Miami,
Florida, 33178,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CCL Corporation Common Stock New York Stock Exchange US USD 24. Jul 1987
DB CVC1 Corporation Common Stock Deutsche Boerse AG DE EUR 24. Jul 1987
LSE 0EV1 Corporation Common Stock London Stock Exchange GB USD 24. Jul 1987
BMV CCL1 N Corporation Common Stock Bolsa Mexicana de Valores MX MXN 24. Jul 1987
NYSE CUK ADS EACH REP 1 ORD USD1.66 New York Stock Exchange US USD 02. Jan 2003
LSE CCL PLC Ordinary Shares London Stock Exchange GB GBP 01. Jan 2003
BOVESPA C1CL34 BDR EACH REPR 1 COM NPV Bolsa de Valores de Sao Paulo BR BRL 30. Dec 2019
OTCPK CUKP.F PLC Ordinary Shares Pink Sheets LLC US USD 01. Jan 2003
DB POH1 PLC Ordinary Shares Deutsche Boerse AG DE EUR 01. Jan 2003
DB POH3 ADS EACH REP 1 ORD USD1.66 Deutsche Boerse AG DE EUR 02. Jan 2003
BMV CCL N PLC Ordinary Shares Bolsa Mexicana de Valores MX MXN 01. Jan 2003
BATS-CHIXE CCLL PLC Ordinary Shares BATS 'Chi-X Europe' GB GBP 01. Jan 2003
Number of employees
Current staff
Staff numbers
150,000
Carnival Corporation & employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 23:23
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/01/28
Last earnings reported: 2019/11/30
Last annual earnings reported: 2019/11/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.