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Norwegian Cruise Line Holdings Ltd.

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
$10.84B
P/E (TTM)
16.5
23.4
Dividend Yield
--
52W High
$29.29
52W Low
$14.21
52W Range
64%
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

Q3 2025 Data

Revenue

$2.94B+4.69%
4-Quarter Trend

EPS

$0.93-13.89%
4-Quarter Trend

FCF

-$726.53M+271.61%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Growth Strong Total revenue reached $2.94B USD for the quarter, showing a strong 4.7% increase compared to $2.81B USD last year.
Operating Income Improved Operating income improved to $749.4M USD, reflecting an 8.4% increase over the prior year's $691.2M USD result.
Adjusted EBITDA Up Adjusted EBITDA improved 9.5% to $1.02B USD, demonstrating strong operational leverage during the reporting period.
Fleet Expansion Delivered Two new ships, Norwegian Aqua and Oceania Allura, delivered, enhancing capacity for future bookings and revenue generation.

Risk Factors

Debt Covenants Compliance Compliance with debt covenants requires ongoing liquidity management; failure risks cross-default acceleration of all outstanding debt.
Macroeconomic Pressures Persist Exposure to inflation, trade wars, and rising fuel prices persist, potentially decreasing consumer confidence and disposable income.
Climate Regulation Costs Increasing GHG regulations will materially impact future capital expenditures, requiring ship modifications and alternative fuel purchases.
Litigation Outcome Uncertainty Helms-Burton Act case granted Certiorari; potential loss is reasonably possible but not probable, thus no liability recorded currently.

Outlook

Sufficient Liquidity Confirmed Liquidity stands at $1.8B USD, including $1.6B RLF availability, deemed sufficient for next twelve months obligations.
Cost Optimization Focus Disciplined cost optimization efforts driving sustainable savings across the organization, balancing pricing with guest experience investments.
Future Capacity Growth Thirteen additional ships ordered, with delivery schedules extending through 2036, supporting long-term capacity planning.
Destination Investment Planned Second phase expansion announced for Great Stirrup Cay Waterpark opening summer 2026, enhancing popular destination offerings.

Peer Comparison

Revenue (TTM)

Penske Automotive Group, Inc.PAG
$30.68B
+2.2%
Wayfair Inc.W
$12.24B
+3.4%
Crown Holdings, Inc.CCK
$12.14B
+3.3%

Gross Margin (Latest Quarter)

MakeMyTrip LimitedMMYT
77.5%
+23.0pp
Norwegian Cruise Line Holdings Ltd.NCLH
47.1%
+1.9pp
H World Group LimitedHTHT
41.6%
+0.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
W$15.52B-45.911.8%115.7%
HTHT$15.06B27.133.9%58.5%
TXRH$12.61B28.630.9%28.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
11.7%
Steady Growth
4Q Net Income CAGR
18.1%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 26, 2026
|
EPS:$0.27
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $2.94B+4.7%
    |
    EPS: $0.93-13.9%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 4, 2025|
    Revenue: $2.52B+6.1%
    |
    EPS: $0.07-82.3%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 5, 2025|
    Revenue: $2.13B-2.9%
    |
    EPS: $-0.09-324.3%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $9.48B+10.9%
    |
    EPS: $2.09+435.9%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $2.81B+10.7%
    |
    EPS: $1.08+33.3%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $2.37B+7.6%
    |
    EPS: $0.38+90.0%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $2.19B+20.3%
    |
    EPS: $0.04-110.7%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $8.55B+76.5%
    |
    EPS: $0.39+107.2%
    Beat