Carnival (CCL)
Operates differentiated cruise lines supported by onboard spending and destination assets.
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Operates cruise lines spanning contemporary, premium, and luxury travel, earning most revenue from passenger tickets and the balance from onboard purchases and concessions. A largely North American and European business, it also owns destination infrastructure and Alaska land-tour assets.
Operates eight cruise lines—Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, AIDA Cruises, Costa Cruises, P&O Cruises, and Cunard—across contemporary, premium, and luxury vacation markets. Sources most guests from North America and Europe, with itineraries centered on the Caribbean and Europe and extending to Alaska, Australia, and other regions.
Earns most revenue from passenger tickets and the rest from beverages, casino gaming, shore excursions, specialty dining, internet, retail, and other onboard services. Owned and operated destinations support the cruise network, while Holland America Princess Alaska Tours adds lodges, railcars, motorcoaches, and hotels.
Differentiates brands by traveler and vacation type while centralizing maritime, fleet, port, and destination functions. Advance bookings and revenue management align pricing with demand. Results depend on fleet occupancy, fuel consumption and prices, port access, seasonality, and compliance with maritime safety, security, health, labor, and environmental rules.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Deutsche Bank | Target | Target: $29 | Target: $32 |
| Sep 17, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $34 | Target: $30 |
| Sep 16, 2026 | Stifel Nicolaus | Target | Target: $36 | Target: $35 |
| Sep 16, 2026 | Barclays | Reiterate | Rating: —Target: $35 | Target: $33 |
| Sep 15, 2026 | Deutsche Bank | Reiterate | Rating: —Target: $34 | Target: $29 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, May 31, 2026Cash & short-term investments $2.24B · Total debt $26.17B · Total assets $52.23B · Shareholders' equity $12.97B
- Revenue
- $6.66B
- Operating income
- $851.0M
- Net income
- $537.0M
HistoryDividendAnnual yield
| Institutions | 65.77% | 900.80M shares | |
|---|---|---|---|
| 1,068 holders · as of Jun 30, 2026 | |||
| Insiders | 1.12% | 15.28M shares | |
| 15 holders · as of Aug 26, 2026 | |||
| Other | 33.11% | 453.57M shares | |
| remainder | |||
1.37B company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.03% | 96.30M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.04% | 82.68M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.56% | 62.41M | as of Jun 30, 2026 |
Causeway Capital Management LLCInstitution | 3.01% | 41.19M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.66% | 36.41M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 28, 2026 | bettina alejandra deynes | officer: Chief Human Resources Officer | −43,058 | $28.10 |
| May 11, 2026 | Stuart Subotnick | director | −0 | $25.22 |
| Apr 1, 2026 | Sir Jonathon Band | director | −23,976 | $26.19 |
| Mar 31, 2026 | Sir Jonathon Band | director | −24 | $24.98 |
| Feb 10, 2026 | David Bernstein | officer: CFO & CAO | −723,580 | $33.22 |
- Royal Caribbean Group
Head-to-head across mass-market, premium, luxury, and expedition segments.
- Norwegian Cruise Line
Third-largest cruise group: mass-market to ultra-luxury across three brands.
- Viking
Premium river-and-ocean cruise leader for affluent North American travelers.
- Lindblad Expeditions
Nat-Geo expedition cruises: Galápagos, Antarctica, Alaska, and Arctic.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Carnival | $21.63 | −2.92% | $30.52B | 10.0 | 9.5 | 1.1 | +5.3% |
| Royal Caribbean Group | $223.71 | −4.76% | $63.00B | 14.5 | 11.9 | 3.4 | +6.5% |
| Norwegian Cruise Line | $13.73 | −3.45% | $6.53B | 8.9 | 10.5 | 0.6 | +4.9% |
| Viking | $80.81 | −0.26% | $35.99B | 26.8 | 22.3 | 5.2 | +16.5% |
| Lindblad Expeditions | $26.58 | −2.71% | $1.79B | — | 75.5 | 2.2 | +18.6% |
| Median | 14.5 | 17.1 | 2.8 | +11.5% |