
Carnival (CCL) Stock Forecast & Price Target
Carnival (CCL) Analyst Ratings
Bulls say
Carnival's financial performance has demonstrated significant improvement, with Return on Capital (ROC) rising from 8.40% to 10.41% over the last twelve months (LTM). Net sales revenue reached a record $26.23 billion, reflecting a year-over-year increase of 7.14%, alongside substantial growth in Economic Profit (EP), which surged 95.94% to $673.9 million. Additionally, Net Operating Profit After Tax (NOPAT) experienced a notable rise of 24.09%, underscoring the company's robust positioning within an expanding global cruise industry that generated approximately $72.5 billion in revenue in 2025.
Bears say
The analysis indicates a negative outlook for Carnival due to significant uncertainty surrounding the global tourism industry, leading to a cautious stance on the company's upcoming financial guidance. Additionally, while Carnival has made efforts to reduce its debt levels, with a net debt-to-EBITDA ratio of 3.6x and a target below 3x by 2026, the drastic lowering of 2026-2028 earnings per share (EPS) estimates reflects concerns about the impact of fluctuating fuel prices on profitability. This caution in financial projections underscores the difficulty Carnival may face in meeting investment objectives amidst a challenging economic environment.
This aggregate rating is based on analysts' research of Carnival and is not a guaranteed prediction by Public.com or investment advice.
Carnival (CCL) Analyst Forecast & Price Prediction
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