Carnival Corp Ltd. (CCL)

Water Transportation

Latest Price

$24.54

TTM P/E

10.62

Normalized P/E

Div Yield

1.83%

Book Value

10.55

P/B Ratio

2.33

Valuation metrics

EPS: $2.02

Book value / share: $8.76

Formula: √(22.5 × EPS × BVPS)

Graham Number

$19.96

19% downside

Base FCF: $1.3B (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$50.69

+107% upside

EPS: $2.02

Target P/E: 11×

Formula: EPS × P/E

P/E Fair Value

$22.22

9% downside

4.7% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
State Street Corp	58.22M	$1.66B	4.27%	+7.98M	2026-06-30
Menora Mivtachim Holdings Ltd.	2.00M	$57.0M	0.15%	-3.03M	2026-06-30
Capital Fund Management S.A.	1.05M	$30.0M	0.08%	+452.1K	2026-06-30
DekaBank Deutsche Girozentrale	271.6K	$7.0M	0.02%	--	2026-06-30
PensionDanmark Pensionsforsikringsaktieselskab	264.6K	$7.0M	0.02%	-385	2026-06-30
Black Cypress Capital Management, LLC	255.1K	$7.0M	0.02%	+2.9K	2026-06-30
Delta Global Management LP	206.9K	$5.0M	0.02%	+155.0K	2026-06-30
Ilmarinen Mutual Pension Insurance Co	170.0K	$4.0M	0.01%	--	2026-06-30
Portland Investment Counsel Inc.	139.6K	$3.0M	0.01%	--	2026-06-30
Ally Financial Inc.	125.0K	$3.0M	0.01%	--	2026-06-30