CCL Historical PE Ratio Notes

— Carnival Corporation & plc (CCL) is one of the world’s largest cruise companies, operating a diversified portfolio of cruise brands including Carnival Cruise Line, Princess Cruises, & Holland America Line. The company generates revenue primarily from ticket sales for cruise vacations & onboard services such as dining, entertainment, and excursions. CCL’s business model is heavily influenced by factors such as global leisure demand, fuel prices, and regulatory changes, which in turn affect both its earnings and the stock price. When these factors result in robust profit growth or resilient earnings, investors may award CCL a higher price-to-earnings (PE) ratio, reflecting optimism about future growth. Conversely, during periods of economic uncertainty, travel restrictions (notably during COVID-19), or rising costs, earnings may fall or turn negative, causing considerable fluctuations in the historical PE ratio. Sometimes, as you review historical charts and tables, you may observe that CCL’s PE ratio spikes, falls sharply, or is not meaningful (such as when earnings are negative). Understanding the company’s cyclical exposure & sensitivity to macroeconomic trends is key to interpreting its historical PE ratio movements.

On this page we presented the CCL Historical PE Ratio information for Carnival' stock. The average CCL historical PE based on using the annualized quarterly earnings result at each measurement period (for the "E" in the PE calculation; and the closing price on earnings date as the "P") is 32.1. Meanwhile, using the trailing twelve month (TTM) quarterly earnings result as our method of calculation the "E" value at each measurement period, the average CCL historical PE based on this TTM earnings result method is 19.9. Note: any PE calculations involving negative earnings were discarded as not meaningful.

Let's now compare this CCL historical PE result, against the recent PE: when this page was posted on 3/13/2026, the most recent closing price for CCL had been 23.99, and the most recent quarterly earnings result, annualized, was 1.36. Meanwhile, the most recent TTM earnings summed to 2.25. From these numbers, we calculate the recent CCL PE on 3/13/2026 based on annualized quarterly EPS was 17.6. Based on CCL's history, that recent PE is low relative to the historical average, with the recent PE 45.2% lower than the historical average PE across our data set for Carnival. Looking at the recent CCL PE on 3/13/2026 based on TTM EPS, we calculate the ratio at 10.7. Based on CCL's history, that recent PE is low relative to the historical average, with the recent PE 46.2% lower than the average PE across our Carnival data set with TTM EPS used in the calculation at each period.

Another interesting CCL historical PE Ratio calculation we look at is to take the median earnings per share of the last four quarters for CCL, and then annualize the resulting value... with that annualized number then being used in the PE calculation. To walk through this math for CCL, we start with the past four EPS numbers and we first sort them from lowest to highest: 0.13, 0.34, 0.35, and 1.43. We then toss out the highest and lowest result, and then take the average of those two middle numbers — 0.34 and 0.35 — which gives us the median of 0.34. Basically the way to think about this 0.34 number is this: for the trailing four earnings reports, 0.34 marks the "middle ground" number where CCL has reported a value higher than 0.34 half the time, and has reported a value lower than 0.34 half the time. Annualizing that median value then gets us to 1.36/share, which we use as the denominator in our next PE calculation. With 23.99 as the numerator (as of 3/13/2026), the calculation is then 23.99 / 1.36 = 17.6 as the CCL PE ratio as of 3/13/2026, based on that annualized median value we calculated.

For self directed investors doing their due diligence on CCL or any other given stock, valuation analysis for CCL can greatly benefit from studying the past earnings and resulting PE calculations. This exercise can help inform an analysis as to whether the past earnings trajectory and current versus historical PE ratios justify the current stock value.

That's why we bring you HistoricalPERatio.com to make it easy for investors to investigate Carnival PE history or the past PE information for any stock in our coverage universe. And in your continued research we hope you will be sure to check out the further links included for earnings surprises history (beat/miss data) as well as next earnings dates for CCL. Thanks for visiting, and the next time you need to research CCL Historical PE Ratio or the ratio for another stock, we hope you'll think of our site, as your go-to historical PE ratio research resource of choice.