The largest cruise company in the world, Carnival Corporation (NYSE:CCL), is trading 9.98% lower from where it started in 2013, a rarity in this bull market.
The company operates about 100 cruise ships and tour companies in Alaska and Canada. Based on market capitalization, Carnival Corporation (NYSE:CCL) is valued at $26.73 billion, and the stock carries a price to book ratio of 1.13. Currently, the company carries a TTM profit margin of 9.58%.
With Carnival Corporation (NYSE:CCL) trading at nearly half of its all time-highs, is the company a bargain in this inflated market, or should investors look for a different company to set sail on?
Historic Revenue Growth:
In 2003, Carnival Corporation (NYSE:CCL) reported revenue of $6.71 billion; in 2012, the company announced revenue of $15.38 billion, representing year over year annual growth of 9.65%, a strong trend that should continue into the future, with projections placing 2015 revenue at $18.35 billion. This growth has been a result of multiple mergers and a rapidly growing fleet.
Dividend Growth: Since implementing their dividend program in 1988, Carnival has consistently raised their dividend payouts, and is widely anticipated to do so into the future.