Carnival Corporation & (NYSE:CCL) has drawn fresh attention after reporting record fiscal 2025 results, cutting more than US$10b of debt, completing a US$19b refinancing, and reinstating its quarterly dividend early in 2026.
See our latest analysis for Carnival Corporation &.
At a share price of US$30.92, Carnival’s recent news sits alongside a 19.5% 1 month share price return and a 28.1% 1 year total shareholder return. This points to momentum that has built as debt refinancing, dividend reinstatement and brand initiatives like Alaska focused collaborations reshape how investors view its risk and reward profile.
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With record 2025 figures, US$26.6b in revenue, US$2.76b in net income, a value score of 5, and the share price sitting below the average analyst target, you have to ask: is there still an opportunity here, or is the market already pricing in future growth?
Most Popular Narrative Narrative: 13.5% Undervalued
Compared to Carnival’s last close of US$30.92, the most followed narrative pegs fair value higher, based on earnings, margins and a specific profit multiple.
The analysts have a consensus price target of $33.091 for Carnival Corporation & based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of $43.0, and the most bearish reporting a price target of just $24.0.
Curious what sits behind that spread in views? Revenue growth, rising margins and a future earnings multiple all pull in different directions. The full narrative shows how they connect.
Result: Fair Value of $35.76 (UNDERVALUED)
Have a read of the narrative in full and understand what’s behind the forecasts.
However, you still need to weigh lingering geopolitical risks around key cruise regions, as well as the drag from Carnival’s sizeable debt stack and ongoing fleet investment needs.
Find out about the key risks to this Carnival Corporation & narrative.
Build Your Own Carnival Corporation & Narrative
If you look at Carnival’s numbers and come to a different conclusion, or just prefer to test your own view, you can build a custom narrative in a few minutes with Do it your way.
A great starting point for your Carnival Corporation & research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.
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