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NCLH stock logo

NCLH

Norwegian Cruise Line Holdings Ltd.

$16.8
-0.3
 (-1.73%)
Exchange:  NYSE
Market Cap:  7.711B
Shares Outstanding:  200.468M
Delayed data
Calculate NCLH Intrinsic Value
5-year outlook →
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Consumer Cyclical
Industry:  Travel Services
   
CEO:  John W. Chidsey
Full Time Employees:  44500
Address: 
7665 Corporate Center Drive
Miami
FL
33126
US
Website:  https://www.nclhltd.com
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.

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Revenue Segmentation

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EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/05/04 — Q1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue8,549,9249,479,6519,827,592
Gross Profit3,081,3373,790,9553,141,680
EBITDA1,773,9432,493,6423,804,477
Operating Income930,9111,465,9061,592,874
Net Income166,178910,257423,246

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets19,492,99019,969,81122,541,401
Total Liabilities19,192,18318,544,37220,331,513
Total Stockholders Equity300,8071,425,4392,209,888
Total Debt14,058,92513,100,49014,606,176
Cash and Cash Equivalents402,415190,765209,893

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow2,005,7142,049,8232,089,746
Capital Expenditure-2,750,362-1,210,952-3,259,606
Free Cash Flow-744,648838,871-1,169,860
Net Income166,178910,257423,246
Net Change in Cash-544,572-211,65019,128

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2030Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)12,557,205.967Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)13,455,721.998Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)12,859,333.333Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)-752,615.910Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)-702,359.412Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)-719,258.235Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)1,422,575.948Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)1,555,863.750Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)1,467,392.742Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)5,340,185.904Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)5,722,296.595Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)5,468,671.198Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)3.190Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)3.390Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)3.100Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)6Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)1Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
9.48B  ?P/S
 (TTM)
: 
0.78
?Net Income
 (TTM)
: 
910.257M  ?P/E
 (TTM)
: 
10.32
?Enterprise Value
 (TTM)
: 
22.732B  ?EV/FCF
 (TTM)
: 
-19.73
?Dividend Yield
 (TTM)
: 
0%  ?Payout Ratio
 (TTM)
: 
0%
?ROE
 (TTM)
: 
32.35%  ?ROIC
 (TTM)
: 
8.01%
?Net Debt
 (TTM)
: 
13.726B  ?Debt/Equity
 (TTM)
: 
5.84
?P/B
 (TTM)
: 
3.08  ?Current Ratio
 (TTM)
: 
0.2

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
6.41Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

Strengths (preview)

  • Robust Financial Performance: NCLH reported strong financial results in the Q4 and full-year 2024 earnings call, with key metrics such as revenue and net income showing positive trends. This indicates effective operational management and a solid recovery trajectory within the cruise industry.
  • Strong Operating Cash Flow: Analysis of cash flow statements reveals consistent net cash provided by operating activities, supporting the company’s ability to fund operations and invest in growth initiatives without excessive reliance on external financing.
  • Strategic Positioning: The earnings call summary highlights strategic foresight in fleet expansion and customer experience enhancements, positioning NCLH favorably against competitors in the leisure travel sector.
  • Market Cap and Industry Standing: With a substantial market capitalization and a presence in the cruise line industry, NCLH benefits from brand recognition and economies of scale, as reflected in the company profile data.

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MARKETSnap estimates NCLH intrinsic value between $23.97 – $35.09 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

[intrinsic_calculator]

Common questions about NCLH valuation

Is Norwegian Cruise Line Holdings Ltd. (NCLH) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for Norwegian Cruise Line Holdings Ltd. (NCLH) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is NCLH a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NCLH trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is NCLH’s P/E ratio?

You can see NCLH’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for NCLH?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is NCLH a good long-term investment?

Whether NCLH fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

NCLH

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-1.73
MARKETSnap

Trading Metrics:

Open: 16.97   Previous Close: 17.09
Day Low: 16.77   Day High: 17.08
Year Low: 14.53   Year High: 27.18
Price Avg 50: 19.39   Price Avg 200: 19.94
Volume: 4.872M   Average Volume: 19.22M

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NCLH full analysis

03/05/2026

Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of Norwegian Cruise Line Holdings, ticker symbol NCLH. If you’re curious about whether this cruise giant is a solid addition to your portfolio, stick around because we’re covering everything from financials to valuation, recent performance, and much more. Let’s get started! Alright, first up, let’s set the stage. Norwegian Cruise Line Holdings is one of the big players in the cruise industry, operating not just…

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See in Nexus

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