<p><strong>嘉年華</strong>(CCL -3.15%) (CUK -3.23%) 的股票在疫情初期經歷了一段恢復之路，並獲得了多種支持，包括美聯儲降息的影響。最近，當美聯儲暗示本月可能會再次降息時，嘉年華又獲得了一次提振。</p>
<p>嘉年華的股票仍然遠低於疫情開始前創下的歷史最高點，其估值也低於歷史標準。隨着利率的下降，投資者對嘉年華股票感到興奮。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkzNzMvdHdvLXBlb3BsZS1ob2RpbmctZHJpbmtzLWFuZC1yZWxheGluZy1vbi1hLWNydWlzZS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkzNzMvdHdvLXBlb3BsZS1ob2RpbmctZHJpbmtzLWFuZC1yZWxheGluZy1vbi1hLWNydWlzZS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>嘉年華正駛向復甦</h2>
<p>嘉年華已恢復到其行業領先的業務，創下了收入、存款和營業收入的新紀錄。它還享受着創紀錄的高需求，票價也很高，並且保持着強勁的預訂狀態。收入報表上唯一尚未恢復到高位的是淨收入，但現在已經是正值並且在增長。</p>
<p>然而，嘉年華仍然有鉅額債務需要償還。截至 2025 財年第二季度末（5 月 31 日結束），淨債務仍超過 270 億美元。</p>
<p>管理層正在採取多項措施來減少債務，包括償還利息最高的票據和以更好的利率進行再融資，情況正在改善。淨債務與調整後的息税折舊攤銷前利潤（EBITDA）比率從第一季度的 4.1 改善至第二季度的 3.7，股票也獲得了 <strong>標準普爾全球</strong> 和惠譽的升級。如果利率再次下降，公司將能夠以更好的利率進行再融資，並更快地償還債務。</p>
<p>今天的嘉年華股票仍然便宜，交易價格為過去 12 個月銷售額的 1.6 倍，遠低於疫情前的水平，股票仍比歷史最高點低 56%。隨着財務狀況的改善，過去一年上漲 93% 的嘉年華股票應該會更高。</p>

嘉年華郵輪

嘉年華存託憑證

<p>嘉年華郵輪的股票正在從疫情低點恢復，受到美聯儲潛在降息的推動。儘管交易價格低於疫情前的高點，但公司正經歷創紀錄的收入和需求，淨收入增長積極。然而，它面臨超過 270 億美元的淨債務，管理層正在積極減少這一負擔。該股票目前的估值為過去銷售額的 1.6 倍，過去一年上漲了 93%，隨着金融條件的改善，預計將進一步上漲</p>

<p><strong>Carnival</strong>(CCL -3.15%) (CUK -3.23%) stock has been on a route to recovery from the early stages of the pandemic, and has received various boosts, including from the Federal Reserve cutting interest rates. It got another boost recently when the Fed signaled a cut is likely this month.</p>
<div class="lb-trans"><p><strong>嘉年華</strong>(CCL -3.15%) (CUK -3.23%) 的股票在疫情初期經歷了一段恢復之路，並獲得了多種支持，包括美聯儲降息的影響。最近，當美聯儲暗示本月可能會再次降息時，嘉年華又獲得了一次提振。</p>
</div><p>Carnival stock still trades way below its all-time highs set just before the pandemic's start, and its valuation is lower than historical norms. As interest rates fall, there's cause for excitement about Carnival stock.</p>
<div class="lb-trans"><p>嘉年華的股票仍然遠低於疫情開始前創下的歷史最高點，其估值也低於歷史標準。隨着利率的下降，投資者對嘉年華股票感到興奮。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkzNzMvdHdvLXBlb3BsZS1ob2RpbmctZHJpbmtzLWFuZC1yZWxheGluZy1vbi1hLWNydWlzZS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F829373%2Ftwo-people-hoding-drinks-and-relaxing-on-a-cruise.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Carnival is cruising toward recovery</h2>
<div class="lb-trans"><h2>嘉年華正駛向復甦</h2>
</div><p>Carnival is back to its previous industry-leading business, setting new records for revenue, deposits, and operating income. It's also enjoying record-high demand, with high ticket prices, and it's maintaining its strong booking position. The only thing left on the income statement that hasn't returned to highs is net income, but it's now positive and growing.</p>
<div class="lb-trans"><p>嘉年華已恢復到其行業領先的業務，創下了收入、存款和營業收入的新紀錄。它還享受着創紀錄的高需求，票價也很高，並且保持着強勁的預訂狀態。收入報表上唯一尚未恢復到高位的是淨收入，但現在已經是正值並且在增長。</p>
</div><p>However, Carnival still has a huge debt to service and pay off. As of the end of the 2025 fiscal second quarter (ended May 31), net debt is still more than $27 billion.</p>
<div class="lb-trans"><p>然而，嘉年華仍然有鉅額債務需要償還。截至 2025 財年第二季度末（5 月 31 日結束），淨債務仍超過 270 億美元。</p>
</div><p>Management is taking many actions to reduce it, including paying off its highest-interest notes and refinancing more at better rates, and the situation is improving. The ratio of net debt to adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved from 4.1 in the first quarter to 3.7 in the second quarter, and the stock got upgraded from both <strong>S&amp;P Global</strong> and Fitch. If interest rates do go down again, the company will be able to refinance at even better rates and pay off the debt more quickly.</p>
<div class="lb-trans"><p>管理層正在採取多項措施來減少債務，包括償還利息最高的票據和以更好的利率進行再融資，情況正在改善。淨債務與調整後的息税折舊攤銷前利潤（EBITDA）比率從第一季度的 4.1 改善至第二季度的 3.7，股票也獲得了 <strong>標準普爾全球</strong> 和惠譽的升級。如果利率再次下降，公司將能夠以更好的利率進行再融資，並更快地償還債務。</p>
</div><p>Carnival stock is still cheap today, trading at 1.6 times trailing-12-month sales, well below pre-pandemic levels, and the stock remains 56% off of all-time highs. As the financial situation improves, Carnival stock, which is up 93% over the past year, should soar even higher.</p>
<div class="lb-trans"><p>今天的嘉年華股票仍然便宜，交易價格為過去 12 個月銷售額的 1.6 倍，遠低於疫情前的水平，股票仍比歷史最高點低 56%。隨着財務狀況的改善，過去一年上漲 93% 的嘉年華股票應該會更高。</p>
</div>

1 Reason to Be Very, Very Excited About Carnival Stock Right Now

- Carnival 股票在疫情初期後逐步復甦，受到美聯儲降息的提振。  
- 目前淨債務超過 270 億美元，管理層採取措施降低債務。  
- 隨着財務狀況改善，Carnival 股票在過去一年上漲 93%。  

目前有一個非常令人興奮的理由關注嘉年華股票