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Norwegian Cruise Line Holdings Ltd. logo

Norwegian Cruise Line Holdings Ltd.

NCLH

NYSEConsumer CyclicalTravel Services

Open in GoAI

Regular session

$17.06

−$0.185 · -1.07%

Aug 24, 1:43 PM ET

NCLH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

81

Deep Value

Momentum

39

Weakening

Sentiment

67

Bullish

Risk resilience

43

Elevated Risk

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Company profile

Company website

Norwegian Cruise Line Holdings Ltd. (NCLH), along with its subsidiary companies, operates as a major global cruise enterprise. Its operations span North America, Europe, the Asia-Pacific region, and other international markets. The company manages a portfolio of three distinct cruise brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. NCLH offers an extensive range of voyages, from brief three-day excursions to lengthy 180-day expeditions. These itineraries explore a comprehensive list of destinations worldwide, including Scandinavia, Russia, the Mediterranean, and the Greek Isles; the Alaskan wilderness, Canada and New England; Hawaii, Asia, Tahiti, and the South Pacific; Australia and New Zealand; Africa, India, and South America; as well as the Panama Canal and the Caribbean. As of December 31, 2021, the company commanded a fleet of 28 ships, providing approximately 59,150 berths for guests. Its travel products are distributed through multiple channels, including independent retail/travel advisors, direct sales onboard its ships, and specialized services for meetings, incentives, and private charters. Founded in 1966, Norwegian Cruise Line Holdings Ltd. maintains its corporate headquarters in Miami, Florida.

Industry
Travel Services
Sector
Consumer Cyclical
Headquarters
US
CEO
John W. Chidsey
Listed since
Jan 18, 2013
Employees
44,500

Market position

Day range

Current $17.06

52-week range

Current $17.06

Open
$17.40
Previous close
$17.245
Volume
5.07M
0.26× average
Average volume
19.22M
Average daily volume
Market cap
7.83B USD
Beta
1.9
Market reference 1
50-day average
$19.5278
-12.64% below average
200-day average
$19.9602
-14.53% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
24.56B USD
P/E (TTM)
10.22×
P/B (TTM)
3.04×
P/S (TTM)
0.77×
EV / EBITDA
6.45×
Earnings yield
4.17%
Free cash flow yield
-11.51%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
42.46%
Operating margin
15.09%
Net margin
7.49%
Return on equity
19.15%
Return on assets
1.88%
Return on invested capital
8.75%

Financial health

Debt / equity
5.84×
Current ratio
0.21×
Altman Z-score
0.3
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends114%-181%-475%-769%Gross margin, FY2021: -148.16%Gross margin, FY2022: 11.91%Gross margin, FY2023: 36.04%Gross margin, FY2024: 39.99%Gross margin, FY2025: 31.97%Operating margin, FY2021: -393.89%Operating margin, FY2022: -32.04%Operating margin, FY2023: 10.89%Operating margin, FY2024: 15.46%Operating margin, FY2025: 16.21%Net margin, FY2021: -695.48%Net margin, FY2022: -46.86%Net margin, FY2023: 1.94%Net margin, FY2024: 9.60%Net margin, FY2025: 4.31%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 -148.16%. Gross margin FY2022 11.91%. Gross margin FY2023 36.04%. Gross margin FY2024 39.99%. Gross margin FY2025 31.97%. Operating margin FY2021 -393.89%. Operating margin FY2022 -32.04%. Operating margin FY2023 10.89%. Operating margin FY2024 15.46%. Operating margin FY2025 16.21%. Net margin FY2021 -695.48%. Net margin FY2022 -46.86%. Net margin FY2023 1.94%. Net margin FY2024 9.60%. Net margin FY2025 4.31%.

Income trends

Revenue

9.83B USD+3.67%

Operating income

1.59B USD+8.66%

Net income

423.25M USD-53.50%
Income trends across reported periods11.26B USD5.53B USD−206.33M USD−5.94B USDRevenue, FY2021: 647.99M USDRevenue, FY2022: 4.84B USDRevenue, FY2023: 8.55B USDRevenue, FY2024: 9.48B USDRevenue, FY2025: 9.83B USDOperating income, FY2021: −2.55B USDOperating income, FY2022: −1.55B USDOperating income, FY2023: 930.91M USDOperating income, FY2024: 1.47B USDOperating income, FY2025: 1.59B USDNet income, FY2021: −4.51B USDNet income, FY2022: −2.27B USDNet income, FY2023: 166.18M USDNet income, FY2024: 910.26M USDNet income, FY2025: 423.25M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 647.99M USD. Revenue FY2022 4.84B USD. Revenue FY2023 8.55B USD. Revenue FY2024 9.48B USD. Revenue FY2025 9.83B USD. Operating income FY2021 −2.55B USD. Operating income FY2022 −1.55B USD. Operating income FY2023 930.91M USD. Operating income FY2024 1.47B USD. Operating income FY2025 1.59B USD. Net income FY2021 −4.51B USD. Net income FY2022 −2.27B USD. Net income FY2023 166.18M USD. Net income FY2024 910.26M USD. Net income FY2025 423.25M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue9.83B USD9.48B USD8.55B USD4.84B USD647.99M USD
Cost of goods sold6.69B USD5.69B USD5.47B USD4.27B USD1.61B USD
Gross profit3.14B USD3.79B USD3.08B USD576.67M USD−960.05M USD
Selling, general, and administrative1.55B USD1.43B USD1.34B USD1.38B USD891.45M USD
Operating expenses1.55B USD2.33B USD2.15B USD2.13B USD1.59B USD
Interest expense2.23B USD747.22M USD727.53M USD801.51M USD2.07B USD
Depreciation and amortization1.15B USD973.51M USD883.24M USD810.05M USD758.6M USD
Operating income1.59B USD1.47B USD930.91M USD−1.55B USD−2.55B USD
Net income423.25M USD910.26M USD166.18M USD−2.27B USD−4.51B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
73%
8 beats, 3 misses, 0 met estimates
Average EPS surprise
+20.87%
11 comparable reports
Latest EPS result
0.48
Estimate 0.41 · Beat by 16.65%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.290.880.470.06Q1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 27, 2025: actual 0.26, estimate 0.1, surprise +160.00%, Beat. Q2 2025, reported Apr 30, 2025: actual 0.07, estimate 0.09, surprise -22.22%, Miss. Q3 2025, reported Jul 31, 2025: actual 0.51, estimate 0.52, surprise -1.92%, Miss. Q4 2025, reported Nov 4, 2025: actual 1.2, estimate 1.16, surprise +3.45%, Beat. Q1 2026, reported Mar 2, 2026: actual 0.28, estimate 0.265, surprise +5.78%, Beat. Q2 2026, reported May 4, 2026: actual 0.23, estimate 0.15, surprise +53.33%, Beat. Q3 2026, reported Jul 30, 2026: actual 0.48, estimate 0.412, surprise +16.65%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 0.89, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.14B2.75B2.37B1.99BQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 27, 2025: actual 2.11B USD, estimate 2.19B USD, surprise -3.85%, Miss. Q2 2025, reported Apr 30, 2025: actual 2.13B USD, estimate 2.56B USD, surprise -16.83%, Miss. Q3 2025, reported Jul 31, 2025: actual 2.52B USD, estimate 3.02B USD, surprise -16.51%, Miss. Q4 2025, reported Nov 4, 2025: actual 2.94B USD, estimate 2.34B USD, surprise +25.35%, Beat. Q1 2026, reported Mar 2, 2026: actual 2.24B USD, estimate 2.34B USD, surprise -4.22%, Miss. Q2 2026, reported May 4, 2026: actual 2.33B USD, estimate 2.36B USD, surprise -1.09%, Miss. Q3 2026, reported Jul 30, 2026: actual 2.64B USD, estimate 2.65B USD, surprise -0.19%, Miss. Q4 2026, reported Nov 3, 2026: actual —, estimate 2.86B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$22.38

31.18% upside
Past 12 months12-month forecastHigh $45.00Average $22.38Low $16.00

Rating distribution

37 ratings
Strong buy13%
Buy1849%
Hold1746%
Sell13%
Strong sell00%

Recent analyst actions

12 institutions

NCLH news

zacks.com

Can NCLH's 2.5% Capacity CAGR Support a Free-Cash-Flow Inflection?

Norwegian Cruise's slower fleet growth, nearly $1B annual capex reduction and $500M-plus savings could support a stronger free-cash-flow profile.

Read source
247wallst.com

A Hedge‑Fund Stampede Into This Deep-Value Stock Could Mark the Start of a Steep Rebound

Hedge fund legends Seth Klarman and Paul Singer quietly loaded up on a battered cruise stock sitting near its pandemic lows, and their timing raises a question every value investor should be asking right now.

Read source
247wallst.com

Norwegian Cruise Line Drops 5%, Carnival Falls 4%, Royal Caribbean Slips 3% as Oil Climbs

Cruise operators are falling in step with rising crude oil, a rare case where a same-day macro move maps straight to an operating cost line.

Read source
zacks.com

NCLH's 8.9% Q3 Net Yield Drop Raises the Stakes for Its 2027 Reset

NCLH's 8.9% Q3 net yield decline adds pressure to its 2027 recovery as pricing and bookings remain key challenges.

Read source
zacks.com

Is NCLH Cheap Enough to Buy Despite Its Earnings and Leverage Risks?

NCLH's steep valuation discount faces a major test as falling earnings estimates, weak yields and high leverage cloud its recovery.

Read source
gurufocus.com

Norwegian Cruise Line Holdings Ltd (NCLH) Stock Up 3.3% and Still Undervalued -- GF Score: 75/100

On August 13, 2026, Norwegian Cruise Line Holdings Ltd (NCLH) shares rose 3.3%, bringing the current price to $19.55. This performance comes amid a challenging

Read source

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ETFs holding NCLH

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
271.16M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$376.92-0.35%
Vanguard S&P 500 ETF logoVanguard S&P 500 ETFVOO
Market value
223.33M
Weight
0.01%
AUM
1.7T USD
Expense ratio
0.03%
Price / 1D
$701.64-0.29%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
195.62M
Weight
0.11%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$302.19-0.84%
Invesco S&P 500 Equal Weight ETF logoInvesco S&P 500 Equal Weight ETFRSP
Market value
179.93M
Weight
0.18%
AUM
100.27B USD
Expense ratio
0.20%
Price / 1D
$221.31-0.16%
State Street SPDR S&P 500 ETF logoState Street SPDR S&P 500 ETFSPY
Market value
98.68M
Weight
0.01%
AUM
817.87B USD
Expense ratio
0.09%
Price / 1D
$763.32-0.31%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
62.11M
Weight
0.09%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$247.81-0.55%
Vanguard Morningstar Small-Cap Growth ETF logoVanguard Morningstar Small-Cap Growth ETFVBK
Market value
56.33M
Weight
0.13%
AUM
43.8B USD
Expense ratio
0.05%
Price / 1D
$353.88-1.33%
State Street Consumer Discretionary Select Sector SPDR ETF logoState Street Consumer Discretionary Select Sector SPDR ETFXLY
Market value
45.02M
Weight
0.20%
AUM
22.98B USD
Expense ratio
0.08%
Price / 1D
$118.26+0.20%

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