CCL

Carnival (CCL)

Company name:	Carnival Plc
Company Description:	A group engaged in the international operation & construction of cruise ships and the provision of related land-based tourist services
EPIC:	CCL	Trading Currency:	GBX
Market Sector:	F25F	ISIN:	GB0031215220
Market Segment:	STMM	Share Type:	DE
WWW Address:	http://www.carnivalcorp.com/	Description:	ORD USD 1.66
Industry Sector:	TRAVEL & LEISURE

Price	Price Change [%]	Bid	Ask	Open	High	Low	Volume
826.60	-12.2 [-1.45]	826.20	827.20	840.00	841.20	811.00	550,851
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
1,296.99	156.91	2.69	334.13	-	2.47	-	3,732.00 - 581.20

Carnival Key Figures

Key Figures
(at previous day's close)
Market Cap.	1,296.99	m
Shares In Issue	156.91	m
Prev. Close	838.80
PE Ratio	2.47
Dividend Yield	-	%
EPS - basic	334.13	p
Dividend PS	-	p
Dividend Cover	-
Cash Flow PS	-	p
Return On Equity (ROE)	11.79	%
Operating Margin	14.69	%
PEG Factor	-1.00
EPS Growth Rate	-2.47	%
Dividends PS Growth Rate	-	%
Net Debt	14,832.52	m
Gross Gearing	43.70	%
Quick Assets	1,261.70	m
Net Working Capital	-5,468.40	m
Intangibles / Fixed Assets	9.50	%
Turnover PS	10,267.09	p
Pre-Tax Profit PS	1,508.63	p
Retained Profit PS	790.31	p
Cash PS	255.38	p
Net Cash PS	-4,244.39	p
Net Tangible Asset Value PS *	10,491.41	p
Net Asset Value PS	12,505.88	p
Spread	1.00 (0.12%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Carnival Balance Sheet

%1$s Balance Sheet

Share Price Performance

Share Price Performance
Sample Period ^†	High	Low
1 week	1,028.00	811.00
4 weeks	1,100.00	811.00
12 weeks	1,174.00	811.00
1 year	3,732.00	581.20

Share Price Chart (5 years)

Carnival Historic Returns

%1$s Historic Returns
Giorni da oggi ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	934.20	-107.60	-11.52	811.00	1.64		917.32
4 weeks	1,005.00	-178.40	-17.75	811.00	1.53		956.91
12 weeks	871.80	-45.20	-5.18	811.00	1.67		981.20
26 weeks	1,021.50	-194.90	-19.08	763.00	2.54		1,061.71
1 year	3,201.00	-2,374.40	-74.18	581.20	2.16		1,327.32
3 years	5,075.00	-4,248.40	-83.71	581.20	1.27		2,594.83
5 years	3,600.00	-2,773.40	-77.04	581.20	1.04		2,986.19
† periods calculated are whole weeks rather than calendar months

Carnival Key Management Ratios

DEEPER ANALYSIS

Carnival Investment Ratios

%1$s Investment Ratios
(Market value analysis) at previous day's close
PQ Ratio	-
PE Ratio	2.47
Tobin's Q Ratio	0.03
Tobin's Q Ratio (excl. intangibles)	0.03
Dividend Yield	-	%
Market-to-Book Ratio	0.07
Price-to-Pre-Tax Profit PS	0.55
Price-to-Retained Profit PS	1.05
Price-to-Cash Flow PS	-
Price-to-Sales PS	0.08
Price-to-Net Tangible Asset Value PS	0.08
Price-to-Cash PS	3.24
Net Working Capital PS	-3,485.14
Price Pct to Working Capital PS	-0.24	%
Earnings Yield	40.42	%
Average PE	11.42
Years in average	5
PE to PE average	21.66	%

Carnival Financial Ratios

%1$s Financial Ratios
(Leverage Ratios)
Debt Ratio	29.40	%
Debt-to-Equity Ratio	0.42
Debt-to-Equity Ratio (excl. Intgbl)	0.50
Debt-to-Equity Market Value	6.30
Net Gearing	42.55	%
Net Gearing (excl. Intangibles)	46.80	%
Gross Gearing	43.70	%
Gross Gearing (excl. Intangibles)	48.06	%
Gearing Under 1 Year	20.26	%
Gearing Under 1 Year (excl. Intgbl)	22.28	%
Assets/Equity	1.78
Cash/Equity	2.04
(Liquidity Ratios)
Net Working Capital to Total Assets	-15.69	%
Current Ratio	0.23
Quick Ratio (Acid Test)	0.18
Liquidity Ratio	0.06
Cash & Equiv/Current Assets	25.17	%
(Solvency Ratios)
Enterprise Value	9,069.09	m
CFO/Sales	-
CFO/Attributable Profit	-
CFO/Assets	-
CFO/Debt	-
Total Debt/Equity Market Value	11.75
Total Debt/Sales	0.95
Total Debt/Pre-Tax Profit	6.44
Total Debt	15,233.23	m
Total Debt/Net Current Assets	-2.79	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	6.33	%
5 yr Compound Earnings Growth	13.94	%
10 yr Compound Earnings Growth	5.63	%
Earn drops > 5% in 10yrs	10

Beta coefficients
Beta (60-Mnth)	Beta (36-Mnth)
2.6887	3.6041

Carnival Operating Ratios

%1$s Operating Ratios
(Profitability Ratios)
Return On Capital Employed (ROCE)	8.52	%
Return On Assets (ROA)	5.29	%
Net Profit Margin	14.36	%
Assets Turnover	0.37
Return On Equity (ROE)	11.79	%
Return On Investment (ROI)	6.69	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	9.29	%
Net Income Of Revenues	7.70	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.65
Fixed Assets Turnover	0.39
Current Assets Turnover	7.52
Net Working Capital Turnover
Inventory Turnover	36.74
(Other Operating Ratios)
Total Assets-to-Sales	2.71
Debtors-to-Sales	5.92	%
Debt Collection Period	21.60	Days

Carnival Dividends

%1$s Dividends
Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
16 Jan 2020	Quarterly	USX	50.00	11/30/2019	11/30/2020	02/20/2020	02/21/2020	03/13/2020	-
14 Oct 2019	Quarterly	USX	50.00	11/30/2018	11/30/2019	11/21/2019	11/22/2019	12/13/2019	200.00
11 Jul 2019	Quarterly	USX	50.00	11/30/2018	11/30/2019	08/22/2019	08/23/2019	09/13/2019	-
18 Apr 2019	Quarterly	USX	50.00	11/30/2018	11/30/2019	05/23/2019	05/24/2019	06/14/2019	-
17 Jan 2019	Quarterly	USX	50.00	11/30/2018	11/30/2019	02/21/2019	02/22/2019	03/15/2019	-
17 Oct 2018	Final	USX	50.00	11/30/2017	11/30/2018	11/22/2018	11/23/2018	12/14/2018	195.00
19 Jul 2018	Quarterly	USX	50.00	11/30/2017	11/30/2018	08/23/2018	08/24/2018	09/14/2018	-
17 Apr 2018	Quarterly	USX	50.00	11/30/2017	11/30/2018	05/24/2018	05/25/2018	06/15/2018	-
18 Jan 2018	Quarterly	USX	45.00	11/30/2017	11/30/2018	02/22/2018	02/23/2018	03/16/2018	-
19 Oct 2017	Final	USX	45.00	11/30/2016	11/30/2017	11/23/2017	11/24/2017	12/15/2017	160.00
19 Jul 2017	Quarterly	USX	40.00	11/30/2016	11/30/2017	08/24/2017	08/25/2017	09/15/2017	-
07 Apr 2017	Quarterly	USX	40.00	11/30/2016	11/30/2017	05/25/2017	05/26/2017	06/16/2017	-
19 Jan 2017	Quarterly	USX	35.00	11/30/2016	11/30/2017	02/23/2017	02/24/2017	03/17/2017	-
20 Oct 2016	Final	USX	35.00	11/30/2015	11/30/2016	11/24/2016	11/25/2016	12/16/2016	140.00
15 Jul 2016	Quarterly	USX	35.00	11/30/2015	11/30/2016	08/25/2016	08/26/2016	09/16/2016	-
14 Apr 2016	Quarterly	USX	35.00	11/30/2015	11/30/2016	05/26/2016	05/27/2016	06/17/2016	-
14 Jan 2016	Quarterly	USX	30.00	11/30/2015	11/30/2016	02/18/2016	02/19/2016	03/11/2016	-
16 Oct 2015	Final	USX	30.00	11/30/2014	11/30/2015	11/19/2015	11/20/2015	12/11/2015	110.00
16 Jul 2015	Quarterly	USX	30.00	11/30/2014	11/30/2015	08/21/2015	08/22/2015	09/11/2015	-
16 Apr 2015	Quarterly	USX	25.00	11/30/2014	11/30/2015	05/21/2015	05/22/2015	06/12/2015	-
13 Jan 2015	Quarterly	USX	25.00	11/30/2014	11/30/2015	02/19/2015	02/20/2015	03/13/2015	-
14 Oct 2014	Final	USX	25.00	11/30/2013	11/30/2014	11/20/2014	11/21/2014	12/12/2014	100.00
16 Jul 2014	Quarterly	USX	25.00	11/30/2013	11/30/2014	08/20/2014	08/22/2014	09/12/2014	-
22 Apr 2014	Quarterly	USX	25.00	11/30/2013	11/30/2014	05/21/2014	05/23/2014	06/13/2014	-
16 Jan 2014	Quarterly	USX	25.00	11/30/2013	11/30/2014	02/19/2014	02/21/2014	03/14/2014	-
15 Oct 2013	Final	USX	25.00	11/30/2012	11/30/2013	11/20/2013	11/22/2013	12/13/2013	100.00
17 Jul 2013	Quarterly	USX	25.00	11/30/2012	11/30/2013	08/21/2013	08/23/2013	09/13/2013	-
04 Jun 2013	Quarterly	USX	25.00	11/30/2012	11/30/2013	05/22/2013	05/24/2013	06/14/2013	-
17 Apr 2013	Quarterly	USX	25.00	11/30/2012	11/30/2013	05/22/2013	05/24/2013	06/14/2013	-
09 Oct 2012	Final	USX	25.00	11/30/2011	11/30/2012	11/21/2012	11/23/2012	12/14/2012	100.00
11 Jul 2012	Quarterly	USX	25.00	11/30/2011	11/30/2012	08/22/2012	08/24/2012	09/14/2012	-
12 Apr 2012	Quarterly	USX	25.00	11/30/2011	11/30/2012	05/23/2012	05/25/2012	06/15/2012	-
10 Feb 2012	Quarterly	USX	25.00	11/30/2011	11/30/2012	02/22/2012	02/24/2012	03/16/2012	-
12 Oct 2011	Final	USX	25.00	11/30/2010	11/30/2011	11/23/2011	11/25/2011	12/16/2011	100.00
13 Jul 2011	Quarterly	USX	25.00	11/30/2010	11/30/2011	08/24/2011	08/26/2011	09/16/2011	-
13 Apr 2011	Quarterly	USX	25.00	11/30/2010	11/30/2011	05/18/2011	05/20/2011	06/10/2011	-
20 Jan 2011	Quarterly	USX	25.00	11/30/2010	11/30/2011	02/16/2011	02/18/2011	03/11/2011	-
19 Oct 2010	Final	USX	10.00	11/30/2009	11/30/2010	11/17/2010	11/19/2010	12/10/2010	40.00
14 Jul 2010	Quarterly	USX	10.00	11/30/2009	11/30/2010	08/18/2010	08/20/2010	09/10/2010	-
14 Apr 2010	Quarterly	USX	10.00	11/30/2009	11/30/2010	05/20/2010	05/22/2010	06/11/2010	-
21 Jan 2010	Quarterly	USX	10.00	11/30/2009	11/30/2010	02/17/2010	02/19/2010	03/12/2010	-
31 Oct 2008	Final	USX	40.00	11/30/2007	11/30/2008	11/19/2008	11/21/2008	12/12/2008	160.00
14 Jul 2008	Quarterly	USX	40.00	11/30/2007	11/30/2008	08/20/2008	08/22/2008	09/12/2008	-
24 Apr 2008	Quarterly	USX	40.00	11/30/2007	11/30/2008	05/21/2008	05/23/2008	06/13/2008	-
03 Mar 2008	Quarterly	USX	40.00	11/30/2007	11/30/2008	02/20/2008	02/22/2008	03/14/2008	-
03 Dec 2007	Final	USX	40.00	11/30/2006	11/30/2007	11/21/2007	11/23/2007	12/14/2007	137.50
17 Jul 2007	Quarterly	USX	35.00	11/30/2006	11/30/2007	08/22/2007	08/24/2007	09/14/2007	-
16 Apr 2007	Quarterly	USX	35.00	11/30/2006	11/30/2007	05/16/2007	05/18/2007	06/08/2007	-
22 Jan 2007	Quarterly	USX	27.50	11/30/2006	11/30/2007	02/14/2007	02/16/2007	03/09/2007	-
17 Oct 2006	Final	USX	27.50	11/30/2005	11/30/2006	11/15/2006	11/17/2006	12/08/2006	102.50
01 Jun 2006	Quarterly	USX	25.00	11/30/2005	11/30/2006	05/17/2006	05/19/2006	06/09/2006	-
21 Apr 2006	Quarterly	USX	25.00	11/30/2005	11/30/2006	05/17/2006	05/19/2006	06/09/2006	-
24 Jan 2006	Quarterly	USX	25.00	11/30/2005	11/30/2006	02/15/2006	02/17/2006	03/10/2006	-
01 Dec 2005	Final	USX	25.00	11/30/2004	11/30/2005	11/16/2005	11/18/2005	12/09/2005	80.00
12 Jul 2005	Quarterly	USX	20.00	11/30/2004	11/30/2005	08/17/2005	08/19/2005	09/09/2005	-
15 Apr 2005	Quarterly	USX	20.00	11/30/2004	11/30/2005	05/18/2005	05/20/2005	06/10/2005	-
19 Jan 2005	Quarterly	USX	15.00	11/30/2004	11/30/2005	02/16/2005	02/18/2005	03/11/2005	-
01 Dec 2004	Final	USX	15.00	11/30/2003	11/30/2004	11/17/2004	11/19/2004	12/10/2004	52.50
02 Sep 2004	Quarterly	USX	12.50	11/30/2003	11/30/2004	08/18/2004	08/20/2004	09/10/2004	-
27 Apr 2004	Quarterly	USX	12.50	11/30/2003	11/30/2004	05/19/2004	05/21/2004	06/11/2004	-
22 Jan 2004	Quarterly	USX	12.50	11/30/2003	11/30/2004	02/18/2004	02/20/2004	03/12/2004	-
29 Oct 2003	Final	USX	12.50	11/30/2002	11/30/2003	11/19/2003	11/21/2003	12/12/2003	44.00
26 Jun 2003	Quarterly	USX	10.50	11/30/2002	11/30/2003	08/20/2003	08/22/2003	09/12/2003	-
02 May 2003	Quarterly	USX	10.50	11/30/2002	11/30/2003	05/21/2003	05/23/2003	06/13/2003	-
06 Feb 2003	Quarterly	USX	10.50	11/30/2002	11/30/2003	02/19/2003	02/21/2003	03/14/2003	-
24 Oct 2002	Final	USX	10.50	11/30/2001	11/30/2002	11/13/2002	11/15/2002	12/17/2002	-
02 Sep 2002	Quarterly	USX	10.50	11/30/2001	11/30/2002	08/14/2002	08/16/2002	09/17/2002	-
26 Apr 2002	Quarterly	USX	10.50	11/30/2001	11/30/2002	05/15/2002	05/17/2002	06/17/2002	-
05 Feb 2002	Quarterly	USX	10.50	11/30/2001	11/30/2002	04/03/2002	04/05/2002	05/10/2002	12.00
24 Oct 2001	Final	USX	10.50	11/30/2000	11/30/2001	11/14/2001	11/16/2001	12/17/2001	-
26 Jul 2001	Quarterly	USX	10.50	11/30/2000	11/30/2001	08/15/2001	08/17/2001	09/17/2001	-
27 Apr 2001	Quarterly	USX	10.50	11/30/2000	11/30/2001	05/16/2001	05/18/2001	06/15/2001	-
15 Feb 2001	Final	USX	10.50	11/30/2000	11/30/2001	04/04/2001	04/06/2001	05/04/2001	12.00

Carnival Fundamentals

Profit and Loss Account
	30 Nov 2016 (USD)		30 Nov 2017 (USD)		30 Nov 2018 (USD)		30 Nov 2019 (USD)
turnover	16,389.00	100.00%	17,510.00	100.00%	18,881.00	100.00%	20,825.00	100.00%	m
pre tax profit	2,828.00	17.26%	2,666.00	15.23%	3,207.00	16.99%	3,060.00	14.69%	m
attributable profit	2,779.00	16.96%	2,606.00	14.88%	3,152.00	16.69%	2,990.00	14.36%	m
retained profit	1,802.00	11.00%	1,519.00	8.68%	1,797.00	9.52%	1,603.00	7.70%	m
eps - basic	373.00		361.00		445.00		434.00
eps - diluted	372.00		359.00		444.00		432.00
dividends per share	140.00		160.00		195.00		-

Carnival Balance Sheet

Balance Sheet
	30 Nov 2016 (USD)		30 Nov 2017 (USD)		30 Nov 2018 (USD)		30 Nov 2019 (USD)


	30 Nov 2016 (USD)		30 Nov 2017 (USD)		30 Nov 2018 (USD)		30 Nov 2019 (USD)
ASSETS
fixed assets	32,429.00	83.29%	34,430.00	84.43%	35,336.00	83.34%	38,131.00	84.63%	m
intangibles	4,185.00	10.75%	4,167.00	10.22%	4,101.00	9.67%	4,086.00	9.07%	m
fixed investments	633.00	1.63%	585.00	1.43%	738.00	1.74%	783.00	1.74%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	322.00	0.83%	387.00	0.95%	450.00	1.06%	427.00	0.95%	m
debtors	764.00	1.96%	814.00	2.00%	794.00	1.87%	1,113.00	2.47%	m
cash & securities	603.00	1.55%	395.00	0.97%	982.00	2.32%	518.00	1.15%	m

TOTAL	38,936.00	100%	40,778.00	100%	42,401.00	100%	45,058.00	100%	m

LIABILITIES
creditors - short	7,072.00	18.16%	8,800.00	21.58%	9,204.00	21.71%	9,127.00	20.26%	m
creditors - long	9,267.00	23.80%	7,762.00	19.03%	8,753.00	20.64%	10,565.00	23.45%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	16,339.00	41.96%	16,562.00	40.62%	17,957.00	42.35%	19,692.00	43.70%	m

EQUITY
ord cap, reserves	22,597.00	58.04%	24,216.00	59.38%	24,444.00	57.65%	25,366.00	56.30%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	22,597.00	58.04%	24,216.00	59.38%	24,444.00	57.65%	25,366.00	56.30%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Carnival Cash Flow Statement

%1$s Cash Flow Statement
	30 Nov 2016 (USD)	30 Nov 2017 (USD)	30 Nov 2018 (USD)	30 Nov 2019 (USD)
Operating CF	5,134.00	5,322.00	-	-	m
Pre-Financing CF	1,811.00	2,233.00	-	-	m
Retained CF	-792.00	-208.00	-	-	m

Carnival Brokers

%1$s Brokers
Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC