Norwegian Cruise Line Holdings Ltd.

NYSE•NCLH

CEO: Mr. Harry J. Sommer

Sector: Consumer Cyclical

Industry: Travel Services

Listing Date: 2013-01-18

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean. It distributes its products through retail/travel advisor and onboard cruise sales channels, as well as meetings, incentives, and charters. Norwegian Cruise Line Holdings Ltd. was founded in 1966 and is based in Miami, Florida.

Contact Information

7665 Corporate Center Drive, Miami, FL, 33126, United States

305-436-4000

www.nclhltd.com

Market Cap

$9.26B

P/E (TTM)

21.9

Dividend Yield

52W High

$27.18

52W Low

$14.21

52W Range

47%

Rank51Top 71.3%

3.0

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 3 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$2.24B+0.00%

4-Quarter Trend

EPS

$0.03+0.00%

4-Quarter Trend

FCF

$21.46M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Growth Maintained Total revenue reached $9.83B USD, marking a 3.7% increase. Capacity Days grew 4.2% due to new ship deliveries.

Adjusted EBITDA Improvement Adjusted EBITDA increased 11.4% to $2.73B USD, showing strong operational leverage improvement over prior year.

Disciplined Fleet Expansion Fleet stands at 34 ships; 17 additional newbuilds planned through 2037 for sustained growth and capacity optimization.

Strong Liquidity Buffer Maintained $1.4B USD available under Revolving Loan Facility as of year-end 2025 to fund ongoing needs.

Risk Factors

Debt Covenant Compliance Risk Results performance risks non-compliance with maintenance covenants in debt facilities; seeking waivers or renegotiation may increase costs.

Financing Dilution Potential Anticipated need for future equity/debt financing may dilute existing shareholders via outstanding exchangeable notes conversion.

Regulatory Cost Headwinds Environmental regulations like EU ETS impose increased costs requiring ship modifications and allowance purchases.

Operational Port Unavailability Unavailability of key ports of call due to weather, security, or local restrictions could adversely affect business operations.

Outlook

Strategic Destination Investment Second phase expansion at Great Stirrup Cay includes Great Tides Waterpark opening summer 2026 to enhance guest experience.

Cost Optimization Focus Driving disciplined, company-wide cost optimization efforts to deliver sustainable savings without compromising guest experience.

Newbuild Delivery Timing New ship delivery dates reset due to sustainability modifications; future delays remain possible impacting capacity timing.

Tax Regime Monitoring Monitoring evolving global tax reforms, including Pillar 2, which could impact future effective tax rates and compliance costs.

Peer Comparison

Revenue (TTM)

PAG

$30.73B

+0.9%

VIPS

$14.73B

-2.4%

$12.46B

+5.1%

Gross Margin (Latest Quarter)

MMYT

70.3%

-0.8pp

HTHT

41.6%

+0.6pp

NCLH

41.0%

+1.9pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
HTHT	$16.22B	28.4	33.9%	58.5%
CCK	$12.13B	16.2	25.4%	43.3%
TXRH	$11.39B	28.0	28.2%	53.1%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

1.8%

Moderate Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:Apr 28, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data