Is it safe?
Can CCL take a bad year?
Carnival Corporation carries $22.6B of net debt at 3.09× EBITDA: a load its earnings can carry.
$22.6B
Net debt · as at Q2 2026 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 3.09×
Net debt / EBITDA · 3.65× a year ago · the load is coming down
- Altman Z-score
- 1.33
Altman Z-score · distress zone, below 1.8
- Interest cover
- 3.70×
Interest cover · operating profit covers the interest bill, with room to spare
Details›
- Total debtQ2 2026
- $24.9B
- Cash and short-term investments
- $2.24B
- Net debt
- $22.6B
- EBITDA, trailing twelve months
- $7.33B
- Operating profit, trailing twelve months
- $4.46B
- Debt / equity
- 1.92×
- Total debt / EBITDA
- 3.40×
- Annualised volatilitytwo years of daily moves
- 48%
- Worst drawdown on file
- −90%
- Below its 52-week high
- −24%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Travel Services
Ranks #7 of 11 by Smart Score