Using the PEG framework with analyst consensus forward EPS growth of 14.9%, Carnival Corporation & plc has a fair value of $36.63 based on NTM EPS (FY2026) of $2.46. The current PEG ratio is 0.69.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
PEG works well for steady growers with predictable earnings.
| EPS Growth RateForward | 14.9% |
| Adjusted Growth (clamped 8–25%) | 14.9% |
| Fair P/E | 14.9x |
| NTM EPS (FY2026) | $2.46 |
| Fair Value | $36.63 |
| Period | EPS Est. | Growth | Analysts |
|---|---|---|---|
| FY2025 (actual) | $2.02 | — | — |
| FY2026E | $2.46 | +22.0% | 19 |
| FY2027E | $2.79 | +13.4% | 18 |
| FY2028E | $3.15 | +12.6% | 13 |
| FY2029E | $3.88 | +23.3% | 6 |
| FY2030E | $4.04 | +4.1% | 6 |
5Y Forward EPS CAGR: 14.9%
| Year | Net Income | EPS | YoY |
|---|---|---|---|
| FY2021 | $-9.5B | $-8.46 | — |
| FY2022 | $-6.1B | $-5.16 | — |
| FY2023 | $-74.0M | $-0.06 | — |
| FY2024 | $1.9B | $1.44 | — |
| FY2025 | $2.8B | $2.02 | +40.3% |
4Y Historical EPS CAGR: 40.3%
The PEG Fair Value uses the Price/Earnings-to-Growth framework. A stock is fairly valued when its P/E ratio equals its earnings growth rate (PEG = 1.0). This model adds dividend yield to the growth rate per the original PEGY formula.
Growth rate priority: analyst consensus forward EPS CAGR (when ≥ 3 analysts cover the stock), falling back to historical EPS CAGR. Using EPS rather than net income avoids distortion from share buybacks. The growth rate is clamped between 8% and 25% — below 8% would undervalue stable earners, while above 25% would overvalue unsustainable spikes.