CCL
Carnival Corporation & plcEvidence as of 2026-09-02Overview · Carnival Corporation & plc
Carnival Corporation & plc engages in the provision of leisure travel services. The company operates a fleet of more than 90 ships visit approximately 700 ports under AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises (Australia), P&O Cruises (UK), and Seabourn brand names. It also provides port destinations and other services, as well as owns and owns and o…
Management team
- Ms. Janet G. Swartz · Executive Vice President of Strategic OperationsFind on LinkedIn
- Ms. Bettina Deynes · Global Chief Human Resources OfficerFind on LinkedIn
- Mr. Enrique Miguez J.D. · General CounselFind on LinkedIn
- Mr. David Bernstein · CFO & Chief Accounting OfficerFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed ( -0.2 of a possible +2; confidence high). Revenues rose to $ 8,153,000,000 in the quarter ended 31 August 2025 (fiscal Q3 2025, 2025-06-01 to 2025-08-31) and measured $ 6,663,000,000 in the quarter ended 31 May 2026 (fiscal Q2 2026, 2026-03-01 to 2026-05-31), a modest $ 335,000,000 increase versus fiscal Q2 2025. Operating income fell from $ 934,000,000 in fiscal Q2 2025 (2025-03-01 to 2025-05-31) to $ 851,000,000 in fiscal Q2 2026, while net income was roughly flat at $ 537,000,000 in fiscal Q2 2026 versus $ 565,000,000 a year earlier and diluted EPS eased from $ 0.42 to $ 0.39.
Balance-sheet and market signals present a mixed picture: entity common shares outstanding rose from 1,154,164,826 (as of 2024-09-23) to 1,369,649,119 (as of 2026-06-19), long-term debt declined from $ 27,383,000,000 (2025-11-30) to $ 25,570,000,000 (2026-05-31), and cash increased to $ 2,243,000,000 over the same interval. Market momentum and relative-strength metrics are weak (3‑month -16.0%, 6‑month -18.1%, 6‑month RS vs SPY -30.4%), price sits below the 50‑ and 200‑day SMAs, volatility is elevated (90‑day annualized +45.1%), and valuation multiples show EV/EBITDA 7.36 and P/E ~ 9.97 with trailing twelve‑month free cash flow negative $ 42,000,000.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue for the quarter ended 31 August 2025 (fiscal Q3 2025, 2025-06-01 to 2025-08-31) was $8,153,000,000, higher than the $6,328,000,000 reported for the quarter ended 31 May 2025 (fiscal Q2 2025, 2025-03-01 to 2025-05-31).
XBRL companyfacts · 0000815097-25-000084Revenue for the quarter ended 31 May 2026 (fiscal Q2 2026, 2026-03-01 to 2026-05-31) was $6,663,000,000 compared with $6,328,000,000 for the quarter ended 31 May 2025 (fiscal Q2 2025, 2025-03-01 to 2025-05-31), a modest increase of $335,000,000 between those Q2s.
XBRL companyfacts · 0000815097-26-000096Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
On August 5, 2026, the company issued a notice of redemption for all $500,000,000 aggregate principal amount of its 7.000% First-Priority Senior Secured Notes due 2029 to be redeemed on August 15, 2026 at a redemption price equal to 103.50% of principal.
8-K filed 2026-08-05Because the Redemption Date (August 15, 2026) falls on an interest payment date, accrued and unpaid interest will be paid to holders registered at the close of business on July 31, 2026 (the record date preceding the August 15, 2026 interest payment date).
8-K filed 2026-08-05Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
The 3-month price momentum was -16.0% as of 2026-09-01, and the 6-month momentum was -18.1%.
Moneyta signal set · 2026-09-01weakened in debateMomentum over the most recent 6 months ranks in the 9th percentile of the 547-stock research universe on 2026-09-01, indicating unusually weak 6-month relative momentum versus peers.
Moneyta signal set · 2026-09-01weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
13F-reported institutional holdings totaled $23.64B as of the period ended 2026-03-31, with reported value down 16.4% quarter-over-quarter and holder count of 1,019.
13F holdings · 1019 filers · as of 2026-03-31Top reported institutional holders in the 13F data as of 2026-03-31 include BlackRock, Inc. ($2.33B, value_qoq_pct -8.9), VANGUARD CAPITAL MANAGEMENT LLC ($1.90B), VANGUARD PORTFOLIO MANAGEMENT LLC ($1.42B), STATE STREET CORP ($1.30B, value_qoq_pct -11.4), and CAUSEWAY CAPITAL MANAGEMENT LLC ($960.1M, value_qoq_pct -7.4).
13F holdings · 1019 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
The headline "Carnival Cruise Line and Barclays Launch New Carnival Rewards Mastercard to Accelerate Travel Experience Through Everyday Purchase Power" (published 1 Sep 2026) reports that Carnival launched a Carnival Rewards Mastercard, a new credit card integrated with a newly announced Carnival Rewards loyalty program.
News · finance.yahoo.com · 2026-09-01The headline "CARNIVAL CRUISE LINE LAUNCHES CARNIVAL REWARDS™" (published 1 Sep 2026) describes the broader Carnival Rewards loyalty program launch and appears in multiple press-distribution outlets.
News · finance.yahoo.com · 2026-09-01Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Bettina Alejandra Deynes, Chief Human Resources Officer, sold 43,058 shares valued at "$1.2M" on 2026-05-28.
Form 4 · deynes bettina alejandra (Chief Human Resources Officer) · $1.2M sold · 2026-05-28Micky Meir Arison reported transfers coded "code G" of 248,015 shares on 2026-08-25 and 91,028 shares on 2026-08-24 (each transaction shows value "$0"), indicating gift/transfer reporting rather than open-market purchases.
Form 4 · ARISON MICKY MEIR (Chairman of the Board) · $0 code G · 2026-08-25Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Free cash flow on a trailing twelve-month basis was negative $42,000,000, with operating cash flow $4,344,000,000 and capital expenditures $4,386,000,000 for the trailing twelve months.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month EBITDA was $7,491,000,000 and the enterprise value to EBITDA multiple reported was 7.36.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-specific items in the record point toward improving operating capacity and a valuation profile that supports a favorable read. Quarter-to-quarter revenue growth in the most recent comparable periods (fundamentals-0, fundamentals-1) combined with materially higher reported cash, lower long-term debt, and higher stockholders’ equity (fundamentals-6, fundamentals-7, fundamentals-8) indicate improved balance-sheet liquidity and deleveraging on the cited dates. Trailing EBITDA and a sub-10x P/E on the provided trailing earnings metric (valuation-1, valuation-2) imply the enterprise is generating substantial operating profit relative to market value even while free cash flow is temporarily negative. The filings evidence that collateral fell away after the company achieved a second investment-grade rating (filings-2) and recent product/marketing initiatives (news-0, news-1) support potential revenue-mix expansion through loyalty/credit-card channels. These items collectively rebut claims that the situation is solely a market-driven decline by highlighting company-level financial and strategic improvements.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.35
37 surviving claims rest on 17 distinct sources; the heaviest analyst carries 24% of them, and 97% of what the desk raised survived the debate.
The evidence set is fairly extensive but not deeply diverse: 37 surviving claims draw on 17 distinct sources, and a single analyst’s work accounts for nearly a quarter of the claims. The desk’s very high survival rate in debate (97%) increases confidence that claims passed internal scrutiny, but the relative concentration of analytic authorship and source types means individual errors or omitted disclosures could materially change the read if they occur.
Peer context · computed, not argued
12-1 momentum ranks 2nd of 3 in Travel Services (as of 2026-09-01).
6-month relative strength ranks 3rd of 3 in Travel Services (as of 2026-09-01).
90-day volatility ranks 1st of 3 in Travel Services (as of 2026-09-01).
dividend yield ranks 2nd of 3 in Travel Services (as of 2026-09-01).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
15 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.1 to the score
3 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.3 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.7 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
14 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−0.5 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on CCL Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.