Debt-to-Equity Ratio

The debt-to-equity ratio of 2.04x means Carnival Corporation has $2.04 of debt for every $1 of shareholders' equity, indicating the company relies heavily on borrowed funds to finance its operations.

This is well above the sector median of 0.75x, placing Carnival in the 84th percentile among its consumer cyclical peers — meaning it carries more leverage than 84% of comparable companies. Trend data is not available: the year-over-year change, quarter-over-quarter change, and the direction over the last eight quarters are all listed as N/A. Without a trend, we cannot assess whether leverage is increasing or decreasing, which limits the ability to gauge momentum in the company's risk profile. The combination of a high debt level relative to peers and the absence of trend data suggests elevated financial risk, as a heavy debt load can strain cash flows during downturns. This metric partially contradicts the overall NEUTRAL verdict because high leverage typically signals greater risk, but the lack of trend information prevents a definitive downgrade, leaving the neutral stance intact.

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