Stock Analysis on Net
Stock Analysis on Net

Carnival Corp. & plc (NYSE:CCL)

$22.49

This company has been moved to the archive! The financial data has not been updated since March 27, 2024.

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Carnival Corp. & plc, P/BV, long-term trends, calculation

Microsoft Excel
P/BV = Share price1, 2, 3 ÷ Book value per share1 (BVPS) BVPS1 = Shareholders’ equity1
(in millions)		 ÷ No. shares of common stock outstanding2
Jan 26, 2024 = ÷ = ÷
Jan 27, 2023 = ÷ = ÷
Jan 27, 2022 = ÷ = ÷
Jan 26, 2021 = ÷ = ÷
Jan 28, 2020 = ÷ = ÷
Jan 28, 2019 = ÷ = ÷
Jan 29, 2018 = ÷ = ÷
Jan 30, 2017 = ÷ = ÷
Jan 29, 2016 = ÷ = ÷
Jan 29, 2015 = ÷ = ÷
Jan 29, 2014 = ÷ = ÷
Jan 29, 2013 = ÷ = ÷
Jan 30, 2012 = ÷ = ÷
Jan 31, 2011 = ÷ = ÷
Jan 29, 2010 = ÷ = ÷
Jan 29, 2009 = ÷ = ÷
Jan 29, 2008 = ÷ = ÷
Feb 12, 2007 = ÷ = ÷
Feb 9, 2006 = ÷ = ÷

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Carnival Corp. & plc Annual Report.

The analysis of the financial data reveals several notable trends and shifts over the period under review.

Share Price Trends
The share price shows significant volatility throughout the years. Starting at $52.24 in early 2006, it declined steadily to a low of $18.60 in early 2009. After this period, the share price recovered gradually, peaking at $71.94 in early 2018. However, from 2018 onwards, the share price experienced a pronounced decline, reaching its lowest point in the dataset at $11.02 in early 2023, followed by a modest increase to $15.83 in early 2024.
Book Value per Share (BVPS) Trends
BVPS generally exhibited a rising trend from $19.94 in early 2006 up to $35.72 in early 2020. This steady increase indicates growth in the company's net asset value per share over this period. However, a sharp decline followed from 2020 onward, with BVPS falling dramatically to $5.27 by early 2024, suggesting a substantial erosion in the company's equity base or asset value during recent years.
Price-to-Book Value Ratio (P/BV) Trends
The P/BV ratio fluctuated notably during the period. Initially, it decreased from 2.62 in 2006 to a low of 0.82 in 2009, aligning with the drop in share price amid steady BVPS, indicating a period where the market undervalued the company's book value. From 2009 to 2018, the ratio generally increased, reaching 2.21, reflecting growing investor confidence and a premium over book value. Subsequently, after 2018, the P/BV ratio showed irregular movements with a dip to nearly 1.0 in 2021, followed by higher ratios of 1.84 and 1.74 in 2022 and 2023, and a sharp rise to 3.00 in 2024, suggesting volatility in market perceptions relative to book value during recent years.

Overall, the data illustrates a period of growth and recovery between 2009 and 2018, both in asset value and market valuation, followed by a phase of uncertainty and decline starting in 2020. The disproportionately large drop in book value per share coupled with volatile share prices and fluctuating P/BV ratios in the last five years indicates financial strain or structural challenges faced by the company in this recent timeframe.

Comparison to Competitors

Carnival Corp. & plc, P/BV, long-term trends, comparison to competitors

Microsoft Excel
Carnival Corp. & plc Airbnb Inc. Booking Holdings Inc. Chipotle Mexican Grill Inc. DoorDash, Inc. McDonald’s Corp. Starbucks Corp.
Jan 26, 2024
Jan 27, 2023
Jan 27, 2022
Jan 26, 2021
Jan 28, 2020
Jan 28, 2019
Jan 29, 2018
Jan 30, 2017
Jan 29, 2016
Jan 29, 2015
Jan 29, 2014
Jan 29, 2013
Jan 30, 2012
Jan 31, 2011
Jan 29, 2010
Jan 29, 2009
Jan 29, 2008
Feb 12, 2007
Feb 9, 2006

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).

Comparison to Sector (Consumer Services)

Carnival Corp. & plc, P/BV, long-term trends, comparison to sector (consumer services)

Microsoft Excel
Carnival Corp. & plc Consumer Services
Jan 26, 2024
Jan 27, 2023
Jan 27, 2022
Jan 26, 2021
Jan 28, 2020
Jan 28, 2019
Jan 29, 2018
Jan 30, 2017
Jan 29, 2016
Jan 29, 2015
Jan 29, 2014
Jan 29, 2013
Jan 30, 2012
Jan 31, 2011
Jan 29, 2010
Jan 29, 2009
Jan 29, 2008
Feb 12, 2007
Feb 9, 2006

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).

Comparison to Industry (Consumer Discretionary)

Carnival Corp. & plc, P/BV, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel
Carnival Corp. & plc Consumer Discretionary
Jan 26, 2024
Jan 27, 2023
Jan 27, 2022
Jan 26, 2021
Jan 28, 2020
Jan 28, 2019
Jan 29, 2018
Jan 30, 2017
Jan 29, 2016
Jan 29, 2015
Jan 29, 2014
Jan 29, 2013
Jan 30, 2012
Jan 31, 2011
Jan 29, 2010
Jan 29, 2009
Jan 29, 2008
Feb 12, 2007
Feb 9, 2006

Based on: 10-K (reporting date: 2023-11-30), 10-K (reporting date: 2022-11-30), 10-K (reporting date: 2021-11-30), 10-K (reporting date: 2020-11-30), 10-K (reporting date: 2019-11-30), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-11-30), 10-K (reporting date: 2016-11-30), 10-K (reporting date: 2015-11-30), 10-K (reporting date: 2014-11-30), 10-K (reporting date: 2013-11-30), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-11-30), 10-K (reporting date: 2010-11-30), 10-K (reporting date: 2009-11-30), 10-K (reporting date: 2008-11-30), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-11-30), 10-K (reporting date: 2005-11-30).