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Intrinsic Value of Carnival Corporation (CCL)

Previous Close$17.08
Intrinsic Value
Upside potential
Previous Close
$17.08

VALUATION INPUT DATA

This valuation is based on fiscal year data as of 2022-11-30 and quarterly data as of 2023-05-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year(a)2023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047

INCOME STATEMENT

Revenue growth rate, %537.7NaN
Revenue, $12168NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m16547NaN
Operating income, $m-4379NaN
EBITDA, $m-1933NaN
Interest expense (income), $mNaN
Earnings before tax, $m-6079NaN
Tax expense, $m14NaN
Net income, $m-6093NaN

BALANCE SHEET

Cash and short-term investments, $m6017NaN
Total assets, $m51703NaN
Adjusted assets (=assets-cash), $m45686NaN
Average production assets, $m40145NaN
Working capital, $m-3113NaN
Total debt, $m34346NaN
Total liabilities, $m44638NaN
Total equity, $m7065NaN
Debt-to-equity ratio4.861NaN
Adjusted equity ratio0.075NaN

CASH FLOW

Net income, $m-6093NaN
Depreciation, amort., depletion, $m2446NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m-1670NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-4870NaN
Free cash flow, $m3200NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-3113
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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