` Comparison: CCL, BKNG - Alpha Spread

CCL
vs
BKNG

Over the past 12 months, CCL has underperformed BKNG, delivering a return of -1% compared to the BKNG's +1% growth.

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CCL
BKNG
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Valuation Comparison

CCL Intrinsic Value
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BKNG Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Carnival PLC
LSE:CCL
1 796.5 GBX
Booking Holdings Inc
NASDAQ:BKNG
5 197.04 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
CCL, BKNG

CCL
BKNG
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Carnival PLC
Revenue
Booking Holdings Inc
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
CCL, BKNG

CCL
BKNG
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Carnival PLC
LSE:CCL
Booking Holdings Inc
NASDAQ:BKNG
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What is Free Cash Flow?

Gross Margin

CCL
39.5%
BKNG
0%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

Operating Margin

CCL
16.4%
BKNG
35.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

Net Margin

CCL
10.1%
BKNG
19.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

FCF Margin

CCL
11.1%
BKNG
31.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

ROE

CCL
25.7%
BKNG
-120.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

ROA

CCL
5.3%
BKNG
17.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

ROIC

CCL
9%
BKNG
86.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

ROCE

CCL
11.2%
BKNG
77.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Carnival PLC
Booking Holdings Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
CCL, BKNG

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Performance Gap
CCL, BKNG

Performance Gap Between CCL and BKNG
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Performance By Year
CCL, BKNG

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CCL
BKNG
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