NCLH

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Norwegian Cruise Line Holdings Ltd.

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Key Metrics

Previous Close: $17.34
52-Week Range: $14.53 – $27.18
Market Cap: $7.69B
P/E (TTM): 10.15
EPS (TTM): 1.65
Dividend Yield: —

Advanced Metrics

Price/Book: 2.99
PEG Ratio: 1.56
Return on Equity: 36.73%
Return on Assets: 4.25%
Gross Margin: 42.46%
Operating Margin: 14.04%
Profit Margin: 7.49%
Current Ratio: 0.20
Debt/Equity: 6.21
Total Debt: $15.98B
Free Cash Flow: $-1.68B
Revenue Growth: 4.90%
Earnings Growth: 616.30%
Enterprise Value: $23.45B

NCLH Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.84B	$8.55B	$9.48B	$9.83B
Cost of Revenue	$4.27B	$5.47B	$5.69B	$5.64B
Gross Profit	$576.67M	$3.08B	$3.79B	$4.19B
Selling, General & Admin	$1.38B	$1.34B	$1.43B	$1.55B
Operating Expenses	$2.13B	$2.15B	$2.33B	$2.63B
Operating Income	-$1.55B	$930.91M	$1.47B	$1.56B
EBITDA	-$665.14M	$1.77B	$2.49B	$2.54B
Pretax Income	-$2.28B	$163.18M	$772.91M	$428.72M
Income Tax	-$6.79M	-$3.00M	-$137.35M	$5.47M
Net Income	-$2.27B	$166.18M	$910.26M	$423.25M
Diluted EPS	-5.41	0.39	1.89	0.92
Diluted Shares	419.77M	427.40M	515.03M	477.74M

NCLH Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$946.99M	$402.42M	$190.76M	$209.89M
Receivables	$326.27M	$280.27M	$221.41M	$291.66M
Inventory	$148.72M	$157.65M	$149.72M	$138.18M
Current Assets	$1.87B	$1.31B	$1.01B	$1.14B
Total Assets	$18.56B	$19.49B	$19.97B	$22.54B
Current Liabilities	$5.05B	$6.04B	$5.78B	$5.45B
Long-Term Debt	$12.63B	$12.31B	$11.78B	$13.73B
Total Debt	$13.62B	$14.06B	$13.10B	$14.61B
Total Liabilities	$18.49B	$19.19B	$18.54B	$20.33B
Retained Earnings	-$7.07B	-$6.90B	-$5.99B	-$5.57B
Shareholders' Equity	$68.59M	$300.81M	$1.43B	$2.21B
Working Capital	-$3.18B	-$4.73B	-$4.77B	-$4.31B
Net Debt	$12.67B	$13.66B	$12.91B	$14.40B

NCLH Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$210.02M	$2.01B	$2.05B	$2.09B
Capital Expenditure	-$1.78B	-$2.75B	-$1.21B	-$3.26B
Free Cash Flow	-$1.57B	-$744.65M	$838.87M	-$1.17B
Depreciation & Amortisation	$810.05M	$883.24M	$973.51M	$1.16B
Stock-Based Compensation	$113.56M	$118.94M	$91.78M	$88.39M
Investing Cash Flow	-$1.76B	-$2.90B	-$1.23B	-$3.26B
Financing Cash Flow	$986.22M	$346.86M	-$1.03B	$1.19B
Net Change in Cash	-$559.66M	-$544.57M	-$211.65M	$19.13M

NCLH Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$2.52B	$2.94B	$2.24B	$2.33B	—
Cost of Revenue	$1.46B	$1.55B	$1.32B	$1.38B	—
Gross Profit	$1.06B	$1.38B	$920.88M	$953.34M	—
Selling, General & Admin	$393.05M	$383.00M	$381.37M	$459.68M	—
Operating Expenses	$636.81M	$633.83M	$734.24M	$720.40M	—
Operating Income	$423.84M	$749.45M	$186.64M	$232.94M	—
EBITDA	$531.85M	$1.04B	$550.27M	$555.03M	—
Pretax Income	$30.63M	$433.64M	$5.89M	$107.66M	—
Income Tax	$637.00K	$14.34M	-$8.36M	$2.99M	—
Net Income	$29.99M	$419.30M	$14.25M	$104.67M	—
Diluted EPS	0.07	0.86	0.03	0.23	0.48
Diluted Shares	448.03M	495.73M	459.52M	466.15M	463.93M

NCLH Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$184.36M	$184.01M	$166.80M	$209.89M	$185.05M
Receivables	$270.52M	$265.78M	$252.63M	$291.66M	$277.10M
Inventory	$155.71M	$160.56M	$155.51M	$138.18M	$162.72M
Current Assets	$1.15B	$1.17B	$1.04B	$1.14B	$1.31B
Total Assets	$21.35B	$21.60B	$22.21B	$22.54B	$23.79B
Current Liabilities	$6.09B	$6.39B	$5.35B	$5.45B	$6.22B
Long-Term Debt	$12.87B	$12.63B	$13.65B	$13.73B	$13.98B
Total Debt	$13.99B	$13.76B	$14.52B	$14.61B	$15.15B
Total Liabilities	$19.94B	$20.03B	$20.02B	$20.33B	$21.36B
Retained Earnings	-$6.03B	-$6.00B	-$5.58B	-$5.57B	-$5.46B
Shareholders' Equity	$1.42B	$1.57B	$2.19B	$2.21B	$2.43B
Working Capital	-$4.95B	-$5.22B	-$4.31B	-$4.31B	-$4.91B
Net Debt	$13.81B	$13.58B	$14.35B	$14.40B	$14.97B

NCLH Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$679.22M	$714.85M	$236.56M	$459.11M	$811.45M
Capital Expenditure	-$1.53B	-$333.64M	-$963.10M	-$437.65M	-$1.44B
Free Cash Flow	-$846.00M	$381.21M	-$726.53M	$21.46M	-$625.22M
Depreciation & Amortisation	$250.53M	$264.44M	$272.79M	$374.35M	$281.39M
Stock-Based Compensation	$20.28M	$25.90M	$18.42M	$23.80M	$23.36M
Investing Cash Flow	-$1.53B	-$335.82M	-$963.48M	-$433.14M	-$1.44B
Financing Cash Flow	$846.62M	-$379.38M	$709.71M	$17.13M	$603.53M
Net Change in Cash	-$6.41M	-$344.00K	-$17.21M	$43.09M	-$24.85M

Market Snapshot

About

Norwegian Cruise Line Holdings Ltd. is a leading global cruise company operating Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. The company serves diverse market segments from contemporary to luxury cruising.