CCLCarnival Corporation
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain and big price swings. Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -90% · now 22% below its 52-week high.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can CCL take a bad year?
Carnival Corporation carries $22.7B of net debt at 3.10× EBITDA: a load its earnings can carry.
Net debt · as at Q3 2026 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 3.10×
Net debt / EBITDA · 3.52× a year ago · the load is coming down
- Altman Z-score
- 1.33
Altman Z-score · distress zone, below 1.8
- Interest cover
- 3.75×
Interest cover · operating profit covers the interest bill, with room to spare
Details›
- Total debtQ3 2026
- $23.9B
- Cash and short-term investments
- $1.22B
- Net debt
- $22.7B
- EBITDA, trailing twelve months
- $7.31B
- Operating profit, trailing twelve months
- $4.41B
- Debt / equity
- 1.69×
- Total debt / EBITDA
- 3.27×
- Annualised volatilitytwo years of daily moves
- 48%
- Worst drawdown on file
- −90%
- Below its 52-week high
- 22%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
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