Carnival Corporation (CCL) valuation
Carnival P/E ratio history
Carnival trades at 12.5 times its earnings over the last twelve months and 11.6 times the earnings analysts expect over the next twelve. At its last 6 fiscal year ends its P/E ranged from 10.4 (year to Nov 2019) to 18.3 (year to Nov 2017), with a median of 13.7.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Nov 30, 2025 | $25.78 | $2.02 | 12.8 | 10.9 |
| Nov 30, 2024 | $25.43 | $1.44 | 17.7 | 15.9 |
| Nov 30, 2023 | $15.06 | -$0.06 | n/m | — |
| Nov 30, 2022 | $9.93 | -$5.16 | n/m | — |
| Nov 30, 2021 | $17.62 | -$8.46 | n/m | — |
| Nov 30, 2020 | $19.98 | -$13.20 | n/m | — |
| Nov 30, 2019 | $45.08 | $4.32 | 10.4 | — |
| Nov 30, 2018 | $60.29 | $4.44 | 13.6 | — |
| Nov 30, 2017 | $65.64 | $3.59 | 18.3 | — |
| Nov 30, 2016 | $51.41 | $3.72 | 13.8 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Carnival valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| CarnivalCCL | $39.5B | 12.5 | 11.6 | 1.4 |
| Expedia GroupEXPE | $34.3B | 17.9 | 12.5 | 2.2 |
| Hilton WorldwideHLT | $80.3B | 48.2 | 35.3 | 6.3 |
| Royal Caribbean GroupRCL | $82.2B | 18.2 | 15.5 | 4.3 |
| Marriott InternationalMAR | $105B | 41.3 | 32.1 | 3.9 |
| Norwegian Cruise Line HoldingsNCLH | $8.07B | 9.5 | 11.6 | 0.8 |
| Peer median | 18.2 | 15.5 | 3.9 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: CCL financials · CCL returns
No forecast, no recommendation. This page describes Carnival Corporation from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.