Percent change in each close since the start of the chosen range, for both companies and the S&P 500 (SPY). Daily closes over the last year, weekly before that and monthly before five years.
In short
How the two compare
On the latest closes (28 Oct 2026), Royal Caribbean Group is the larger company by market value ($79.94B against $38.39B). Over the past year Carnival Corporation returned −3.1% and Royal Caribbean Group −5.6%, while the S&P 500 returned +12.7%. The operating margin is 26.3% for Carnival Corporation and 33.5% for Royal Caribbean Group. Over the next 21 sessions the model expects −0.25% for Carnival Corporation, with a 37% chance of a rise, and −0.79% for Royal Caribbean Group, with a 19% chance. Carnival Corporation's long-run fair value is $41.75, a gap of +48.8% to its price; the long-run model view is positive. Royal Caribbean Group's long-run fair value is $291.92, a gap of −2.1% to its price; the long-run model view is neutral.
Model view
What the model expects
Expected returns and the chance of a rise from our forecasting models, and the long-run fair value against the price. Readings, not advice.
Model readings:
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
Expected returnnext 21 sessions
CCL−0.25%
RCL−0.79%
Chance of a risenext 21 sessions
CCL37%
RCL19%
Expected returnnext 63 sessions
CCL+1.82%
RCL+0.26%
Range of outcomes63 sessions, 80% band
CCL−26.2% to +29.8%
RCL−26% to +26.5%
Chance of a risenext 63 sessionsMembers only · see plans
Long-run fair valueintrinsic value model
CCL$41.7528 Oct 2026
RCL$291.9228 Oct 2026
Gap to pricefair value against the close
CCL+48.8%
RCL−2.1%
Past readings that matchedsign of the 21-session outcome
CCL44.2%of 269
RCL48.3%of 269
Price performance
How the prices moved
Price change over each period, with the S&P 500 (SPY) for comparison.
Closes to
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
1 monthS&P 500: +1.1%
CCL+11.7%
RCL+14.4%
6 monthsS&P 500: +8.5%
CCL+10.9%
RCL+18%
Year to dateS&P 500: +13.3%
CCL−6.6%
RCL+8.1%
1 yearS&P 500: +12.7%
CCL−3.1%
RCL−5.6%
5 yearsS&P 500: +70.7%
CCL+27.1%
RCL+265.6%
1 year against the S&P 500percentage points
CCL−15.8 pts
RCL−18.3 pts
Position in the 52-week range0% low, 100% high
CCL55%close $28.06 in $21.45 to $33.49
RCL58%close $298.30 in $222.22 to $352.67
Against the 200-day average
CCL+4.3%
RCL+4.6%
Valuation
What the market pays
Size and the multiples from the latest filed quarter. A P/E on losses reads n/m.
Filings: quarter to (CCL), (RCL)
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
Market value
CCL$38.39B28 Oct 2026
RCL$79.94B28 Oct 2026
Enterprise valueat the last filing
CCL$53.34B31 Aug 2026
RCL$92.75B30 Sep 2026
P/Elatest filed
CCL—Not measured today.
RCL16.1
Price to book
CCL2.30
RCL5.98
EV / EBITDA
CCL—Not in the latest filing data.
RCL13.54
Free cash flow yield
CCL—Not in the latest filing data.
RCL2.12%
Dividend yield
CCL—Not in the latest filing data.
RCL1.89%
Profitability
How much of revenue becomes profit
Margins and returns on capital from the latest filing; revenue, net income and earnings per share over the trailing twelve months.
Filings: quarter to (CCL), (RCL)
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
Gross margin
CCL—Not in the latest filing data.
RCL51.5%
Operating margin
CCL26.3%
RCL33.5%
Net margin
CCL22.8%
RCL30.9%
Return on equity
CCL—Not in the latest filing data.
RCL37.1%
Return on invested capital
CCL4.6%
RCL4.1%
Revenuetrailing twelve months
CCL—Not in the latest filing data.
RCL$18.39B
Net incometrailing twelve months
CCL—Not in the latest filing data.
RCL$4.42B
Earnings per sharetrailing twelve months
CCL—Not in the latest filing data.
RCL$16.50
Growth
How fast the business grew
Change against the same quarter a year earlier.
Filings: quarter to (CCL), (RCL)
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
Revenue growthyear over year
CCL—Not in the latest filing data.
RCL+8.8%
Earnings growthyear over year
CCL—Not in the latest filing data.
RCL+9.7%
Free cash flow growthyear over year
CCL—Not in the latest filing data.
RCL+24.5%
Financial health
Balance sheet and quality scores
Leverage, liquidity and two published scores: Altman Z (below 1.8 the distress zone, above 3 the safe zone) and Piotroski F (0 to 9).
Filings: quarter to (CCL), (RCL)
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
Debt to equity
CCL1.54
RCL1.88
Current ratiocurrent assets over current liabilities
CCL0.27
RCL0.22
Altman Z-score
CCL—Not in the latest filing data.
RCL1.59
Piotroski F-scoreout of 9
CCL6 of 9
RCL8 of 9
Trading and risk
How the shares trade
Volatility, sensitivity to the market, the deepest fall, short interest and how closely the two move together.
Closes to ; FINRA settlement
MeasureCarnival Corporation · CCLRoyal Caribbean Group · RCL
Volatility21 sessions, annualised
CCL34.1%
RCL35.1%
Betaagainst the S&P 500, 5 years
CCL1.94
RCL1.62
Deepest fallpeak to trough, 5 years
CCL−74.3%
RCL−67.6%
Market regimeour reading at each model date
CCLStrong risk-off
RCLStrong risk-off
Short interestshare of the float
CCL—Not measured today.
RCL4.5%settled 30 Sep 2026
Days to covershort shares over average volume
CCL1.3
RCL2.8
Average volume3 months, shares a day
CCL21.09M
RCL2.3M
Moving togethercorrelation of daily returns, past year0.79, often together−1 opposite0 unrelated+1 together
Questions
Carnival Corporation or Royal Caribbean Group: common questions
Which is larger by market value, Carnival Corporation or Royal Caribbean Group?
Royal Caribbean Group, at $79.94B against $38.39B for Carnival Corporation, on the latest closes (28 Oct 2026).
How did Carnival Corporation and Royal Caribbean Group move over the past year against the S&P 500?
Over the past year Carnival Corporation returned −3.1% and Royal Caribbean Group −5.6%, while the S&P 500 returned +12.7%. Prices at close 28 Oct 2026.
What does the model expect for Carnival Corporation and Royal Caribbean Group over the next month?
−0.25% for Carnival Corporation with a 37% chance of a rise, and −0.79% for Royal Caribbean Group with a 19% chance, over the next 21 sessions. Model readings 28 Oct 2026. These are model readings, not advice.
How do the operating margins of Carnival Corporation and Royal Caribbean Group compare?
The operating margin is 26.3% for Carnival Corporation and 33.5% for Royal Caribbean Group. Filings: quarter to 31 Aug 2026 and 30 Sep 2026.
Do Carnival Corporation and Royal Caribbean Group shares move together?
Over the past year the correlation of their daily returns was 0.79 (often together); 1 means they always move together, 0 unrelated, −1 opposite. Prices at close 28 Oct 2026.
In the consoleCompare up to four companies with every model readingMembers see the 63-session chance of a rise and all four horizons, side by side in Research › Compare.
Model readings are research estimates, not investment advice. Prices: daily closes. Fundamentals: the latest SEC filings. Short interest: FINRA, settlement 30 Sep 2026. A dash means the figure is not in our data; it is never shown as zero. The model view follows a published rule: next month by the sign of the expected return, the long run positive at a fair value 10% or more above the price and negative at 10% or more below it.