Is Carnival Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Carnival Corp. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 15, an EV to EBITDA of 9.72, and a PEG ratio of 0.05, suggesting that while the company has a low growth expectation relative to its price, it is not significantly undervalued compared to its earnings.
In comparison to peers, Carnival Corp. has a P/E of 16.8954 and an EV to EBITDA of 10.5523, which are slightly higher than its own ratios, indicating that it is on par with industry standards but not particularly undervalued. Over the past year, Carnival Corp. has outperformed the S&P 500 with a return of 32.23% compared to the S&P 500's 14.08%, reinforcing its competitive position in the market.