Carnival vs Royal Caribbean Group CCL vs RCL
Carnival and Royal Caribbean Group on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
What differs most
- Free-cash-flow yield: Carnival 7.5%, Royal Caribbean Group 1.7%.
- Price / sales: Royal Caribbean Group 4.0×, Carnival 1.3×.
- Market value: Royal Caribbean Group $74.25B, Carnival $34.83B.
- Net margin: Royal Caribbean Group 23.5%, Carnival 11.4%.
Price return
2025-10-16 → 2026-10-16
CCL−8.2%
RCL−7.0%
Profile
latestSector
Consumer Cyclical
Consumer Cyclical
Industry
Travel Services
Travel Services
Market value
$34.83B
$74.25B
Enterprise value
$57.52B
$96.21B
Employees
160,000
107,975
Revenue per employee (TTM)
$172K
$173K
Our models
nightlythe valuation on each stock's pagePrice vs model
20% undervalued vs model
251% overvalued vs model
Model range
$28.32–44.89
$36.84–177
Models in the headline
1
1
FCF growth priced in, at a 10% return
11.9%
35.4%
Every model, its assumptions and its range: CCL valuation · RCL valuation. The growth priced in, at any return: CCL reverse DCF · RCL reverse DCF.
Trading
close 2026-10-16Last close
$25.90
$277.68
52-week high
$33.99
$348.03
52-week low
$21.80
$230.30
Price vs 52-week high
−23.8%
−20.2%
Price vs 52-week low
+18.8%
+20.6%
Average daily volume / shares
1.6%
0.9%
Beta
2.38
1.82
Returns
to 2026-10-161 month
+15.9%
+9.4%
3 months
−3.6%
−5.5%
6 months
−5.2%
+4.4%
Year to date
−15.2%
−0.4%
1 year
−8.2%
−7.0%
1 year, dividends added
−6.6%
−5.1%
2 years
+21.0%
+37.6%
Valuation
CCL price × TTM to Aug 2026 · RCL price × TTM to Jun 2026P/E (TTM)
11.2×
17.2×
P/E on consensus EPS (next FY)
11.5×
15.6×
Price / sales
1.3×
4.0×
EV / sales
2.1×
5.1×
EV / EBITDA
7.9×
13.9×
Price / book
2.5×
7.3×
Price / free cash flow (FY)
13.4×
60.1×
Free-cash-flow yield (FY)
7.5%
1.7%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+4.1%
+9.1%
Revenue, 3-year CAGR
29.8%
26.6%
Revenue, 5-year CAGR
36.6%
52.0%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+11.6%
+13.9%
EPS, 3-year CAGR
—
—
Free cash flow, 3-year CAGR
—
—
Diluted shares, 3-year change
+18.8%
+7.4%
Profitability
CCL TTM to Aug 2026 · RCL TTM to Jun 2026Gross margin (FY)†
29.6%
46.8%
Operating margin
16.0%
27.3%
EBITDA margin
26.5%
37.0%
Net margin
11.4%
23.5%
Free-cash-flow margin (FY)
9.8%
6.9%
Return on equity
22.1%
43.0%
Return on assets
6.2%
9.8%
Asset turnover
0.54
0.42
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
CCL MRQ Aug 2026 · RCL MRQ Jun 2026Cash
$1.22B
$875.0M
Total debt
$23.91B
$22.84B
Net debt
$22.69B
$21.96B
Debt / equity
1.7×
2.2×
Net debt / EBITDA (TTM)
3.1×
3.2×
Interest coverage (FY)
3.3×
4.9×
Current ratio (FY)
0.32
0.18
Dividends
trailing 12 monthsDividend yield
1.7%
2.0%
Dividends per share
$0.45
$5.50
Payout ratio (of TTM EPS)
19.5%
34.0%
Dividend per share, 5-year CAGR
—
—
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
2
2
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$0
$4.0M
Analyst upgrades
0
2
Analyst downgrades
0
0
Statements
CCL income TTM to Aug 2026 · cash flow FY2025 · RCL income TTM to Jun 2026 · cash flow FY2025Revenue
$27.59B
$18.68B
EBITDA
$7.31B
$6.92B
Operating income
$4.41B
$5.11B
Net income
$3.14B
$4.40B
EPS (diluted)
$2.31
$16.18
Operating cash flow
$6.22B
$6.46B
Capital expenditure
−$3.61B
−$5.23B
Free cash flow
$2.61B
$1.24B
Dividends paid
—
$824.0M
Keep comparing
Carnival against
Royal Caribbean Group against
Statements from the companies' SEC filings; prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.