Carnival Corp Ltd.(CCL)Stock Analysis
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Rank #274 of 2,961 stocksTOP 10%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.
CCL Stock Analysis & AI Quality Score
Data updated 2026-09-11AI stock analysis and institutional research for Carnival Corp Ltd. (CCL), a Industrials sector company. 13F Pro's AI-powered ranking engine scores CCL at 69.3/100 on a 32-signal composite quality model, placing it at rank #274 of 2,961 stocks — the top 10% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), Carnival Corp Ltd. reports quarterly revenue of $6.7B, net income of $537.0M, an operating margin of 12.8%. Top institutional holders of CCL by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. CCL trades on the NYSE exchange and files with the SEC under CIK 815097. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CCL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Carnival Corp Ltd. directly from SEC EDGAR. Carnival Corp Ltd.'s 13F Pro composite quality score has ranged between 26 and 75 since 2021, currently 69.3 — a declining long-term trajectory across 50 quarterly and live scoring snapshots.
Revenue
Q2 2026
$6.7B
Net Income
Q2 2026
$537.0M
Free Cash Flow
Q2 2026
$1.8B
Operating Margin
Q2 2026
12.8%
ROIC
Q2 2026
8.8%
D/E Ratio
Q2 2026
1.97
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · ProRevenue
+6.4% YoYNet Income
+44.1% YoYOperating Income
+25.4% YoYEPS (Diluted)
+40.3% YoYTotal Assets
+5.4% YoYTotal Debt
-2.9% YoYOp. Cash Flow
+5.0% YoYFree Cash Flow
+101.0% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $26.62B +6.4% | $25.02B +15.9% | $21.59B +77.5% | $12.17B +537.7% | $1.91B -65.9% | $5.59B |
| Net Income | $2.76B +44.1% | $1.92B +2689.2% | $-74.0M +98.8% | $-6.09B +35.9% | $-9.50B +7.2% | $-10.24B |
| Operating Income | $4.48B +25.4% | $3.57B +82.7% | $1.96B +144.7% | $-4.38B +38.2% | $-7.09B +20.0% | $-8.87B |
| EPS (Diluted) | $2.02 +40.3% | $1.44 +2500.0% | $-0.06 +98.8% | $-5.16 +39.0% | $-8.46 +35.9% | $-13.20 |
| Total Assets | $51.69B +5.4% | $49.06B -0.1% | $49.12B -5.0% | $51.70B -3.1% | $53.34B -0.5% | $53.59B |
| Total Debt | $27.38B -2.9% | $28.21B -10.0% | $31.34B -12.0% | $35.62B +4.8% | $33.97B +23.2% | $27.58B |
| Operating Cash Flow | $6.22B +5.0% | $5.92B +38.4% | $4.28B +356.3% | $-1.67B +59.4% | $-4.11B +34.8% | $-6.30B |
| Free Cash Flow | $2.61B +101.0% | $1.30B +30.1% | $997.0M +115.1% | $-6.61B +14.3% | $-7.72B +22.2% | $-9.92B |
AI Insight: CCL Financial Trends
Carnival is deleveraging steadily while maintaining positive operating cash flow, but profitability remains volatile and below peak levels.
• Total debt declined from $29.6B (Q3 2024) to $25.6B (Q2 2026), a $4.0B reduction over 8 quarters.
• Equity strengthened from $8.6B to $13.0B, up 51% since Q3 2024, improving balance sheet resilience.
• Operating cash flow averaged $1.5B quarterly over last 4 quarters; revenue remains below $8.2B peak (Q3 2025).
⚠ Net income volatility persists: $1.9B (Q3 2025) versus $258M (Q1 2026) suggests seasonal or operational instability.
⚠ Operating margin compressed from 27.8% (Q3 2024) to 12.8% (Q1 2026), signaling cost pressure or pricing weakness.
AI Insight: CCL Ratio Trends
Carnival faces persistent seasonality: Q1–Q2 margins collapse ~50% from Q3 peaks, with leverage halving but returns remaining depressed.
• D/E ratio fell sharply from 3.45 in Q3 2024 to 1.97 in Q2 2026, indicating substantial debt reduction or equity rebuilding.
• OpMargin and ROIC show clear cyclicality: Q3 peaks near 28% and 23%, then collapse to 9–12% and 6–8% in Q4–Q1.
• Q1 2025 posted negative NPM (−1.3%) and ROE (−3.4%), signaling weakness; Q1 2026 remained challenged at 4.2% NPM.
⚠ Winter-quarter profitability remains structurally weak. Q1 2026 OpMargin of 9.8% and ROIC of 6.2% lag multi-year lows.
⚠ TTM ROIC of 11.6% reflects seasonal averaging; latest Q2 2026 ROIC of 8.8% suggests underlying earnings power remains constrained.
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Available Research
13F Pro tracks comprehensive data for Carnival Corp Ltd. including:
Top Institutional Holders of CCL
BlackRock, Inc.
$2.8B96,304,948 shVANGUARD CAPITAL MANAGEMENT LLC
$2.4B82,678,077 shVANGUARD PORTFOLIO MANAGEMENT LLC
$1.8B62,406,507 shSTATE STREET CORP
$1.7B58,217,260 shCAUSEWAY CAPITAL MANAGEMENT LLC
$1.2B41,190,606 shGEODE CAPITAL MANAGEMENT, LLC
$1.0B36,412,082 shFMR LLC
$1.0B35,769,442 shBARROW HANLEY MEWHINNEY & STRAUSS LLC
$785.8M27,502,985 shJPMORGAN CHASE & CO
$715.4M24,508,386 shDIMENSIONAL FUND ADVISORS LP
$494.4M17,299,467 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $2.8B | 96,304,948 |
| VANGUARD CAPITAL MANAGEMENT LLC | $2.4B | 82,678,077 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1.8B | 62,406,507 |
| STATE STREET CORP | $1.7B | 58,217,260 |
| CAUSEWAY CAPITAL MANAGEMENT LLC | $1.2B | 41,190,606 |
| GEODE CAPITAL MANAGEMENT, LLC | $1.0B | 36,412,082 |
| FMR LLC | $1.0B | 35,769,442 |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | $785.8M | 27,502,985 |
| JPMORGAN CHASE & CO | $715.4M | 24,508,386 |
| DIMENSIONAL FUND ADVISORS LP | $494.4M | 17,299,467 |
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Similarity is computed from the 8 composite sub-scores and latest-quarter 13F conviction holdings (index-style filers excluded). Refreshed monthly.
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Popular Research
Is CCL a good stock to buy?
13F Pro's AI-powered analysis of Carnival Corp Ltd. (CCL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CCL are available on the CCL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. CCL is classified as a large company.
Which hedge funds own CCL?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CCL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Carnival Corp Ltd.'s investment landscape.