(NCLH) Norwegian Cruise Line - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: BMG667211046
Stock: Cruises, Accommodations, Dining, Entertainment, Excursions
Total Rating 13
Risk 32
Buy Signal -0.59
| Risk 5d forecast | |
|---|---|
| Volatility | 58.5% |
| Relative Tail Risk | -15.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.18 |
| Alpha | -30.43 |
| Character TTM | |
|---|---|
| Beta | 1.975 |
| Beta Downside | 2.663 |
| Drawdowns 3y | |
|---|---|
| Max DD | 46.68% |
| CAGR/Max DD | 0.39 |
EPS (Earnings per Share)
Revenue
Description: NCLH Norwegian Cruise Line March 02, 2026
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) operates three premium cruise brands-Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas-offering a full suite of onboard amenities and shore-excursion packages across a global itinerary network that spans North America, Europe, Asia-Pacific, the Caribbean, Alaska and beyond. Headquartered in Miami, the company serves leisure travelers with accommodations, dining, entertainment, spa, casino, retail and travel-related services.
Key recent metrics underscore the sector’s rebound: for Q3 2025, NCLH reported revenue of $2.48 billion, a 19 % year-over-year increase, driven by a 92 % average occupancy and a $185 average daily rate (ADR) per passenger. Adjusted EBITDA rose to $560 million, and the balance sheet now shows a net debt-to-EBITDA ratio of 2.3×, down from 3.1× a year earlier. Macro-level drivers remain strong consumer discretionary spending and a favorable fuel-price environment, while labor cost inflation continues to pressure margins.
For a more granular view, consider digging deeper on ValueRay.
Headlines to watch out for
- Fuel price volatility impacts operating expenses
- Global economic downturn reduces discretionary travel spending
- Geopolitical instability disrupts cruise itineraries and bookings
- Health crises deter cruise demand and increase operational costs
- Regulatory changes regarding environmental impact increase compliance costs
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 423.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA -9.39 > 1.0 |
| NWC/Revenue: -43.90% < 20% (prev -50.33%; Δ 6.43% < -1%) |
| CFO/TA 0.09 > 3% & CFO 2.09b > Net Income 423.2m |
| Net Debt (14.40b) to EBITDA (2.35b): 6.12 < 3 |
| Current Ratio: 0.21 > 1.5 & < 3 |
| Outstanding Shares: last quarter (459.5m) vs 12m ago -11.31% < -2% |
| Gross Margin: 42.62% > 18% (prev 0.40%; Δ 4.22k% > 0.5%) |
| Asset Turnover: 46.24% > 50% (prev 47.47%; Δ -1.23% > 0%) |
| Interest Coverage Ratio: 1.48 > 6 (EBITDA TTM 2.35b / Interest Expense TTM 885.1m) |
Altman Z'' -1.96
| A: -0.19 (Total Current Assets 1.14b - Total Current Liabilities 5.45b) / Total Assets 22.54b |
| B: -0.25 (Retained Earnings -5.57b / Total Assets 22.54b) |
| C: 0.06 (EBIT TTM 1.31b / Avg Total Assets 21.26b) |
| D: -0.30 (Book Value of Equity -6.02b / Total Liabilities 20.33b) |
| Altman-Z'' Score: -1.96 = D |
Beneish M -2.93
| DSRI: 1.27 (Receivables 291.7m/221.4m, Revenue 9.83b/9.48b) |
| GMI: 0.94 (GM 42.62% / 39.99%) |
| AQI: 0.96 (AQ_t 0.10 / AQ_t-1 0.11) |
| SGI: 1.04 (Revenue 9.83b / 9.48b) |
| TATA: -0.07 (NI 423.2m - CFO 2.09b) / TA 22.54b) |
| Beneish M-Score: -2.93 (Cap -4..+1) = A |
What is the price of NCLH shares?
As of March 24, 2026, the stock is trading at USD 20.12 with a total of 24,224,568 shares traded.
Over the past week, the price has changed by +1.41%, over one month by -14.35%, over three months by -12.94% and over the past year by -2.75%.
Over the past week, the price has changed by +1.41%, over one month by -14.35%, over three months by -12.94% and over the past year by -2.75%.
Is NCLH a buy, sell or hold?
Norwegian Cruise Line has received a consensus analysts rating of 4.25.
Therefore, it is recommended to buy NCLH.
- StrongBuy: 13
- Buy: 4
- Hold: 7
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the NCLH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 26.3 | 30.9% |
| Analysts Target Price | 26.3 | 30.9% |
NCLH Fundamental Data Overview March 24, 2026
P/E Trailing = 20.5978
P/E Forward = 7.716
P/S = 0.8784
P/B = 3.9063
P/EG = 0.4498
Revenue TTM = 9.83b USD
EBIT TTM = 1.31b USD
EBITDA TTM = 2.35b USD
Long Term Debt = 13.73b USD (from longTermDebt, last quarter)
Short Term Debt = 875.9m USD (from shortTermDebt, last quarter)
Debt = 14.61b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 14.40b USD (from netDebt column, last quarter)
Enterprise Value = 23.03b USD (8.63b + Debt 14.61b - CCE 209.9m)
Interest Coverage Ratio = 1.48 (Ebit TTM 1.31b / Interest Expense TTM 885.1m)
EV/FCF = -19.69x (Enterprise Value 23.03b / FCF TTM -1.17b)
FCF Yield = -5.08% (FCF TTM -1.17b / Enterprise Value 23.03b)
FCF Margin = -11.90% (FCF TTM -1.17b / Revenue TTM 9.83b)
Net Margin = 4.31% (Net Income TTM 423.2m / Revenue TTM 9.83b)
Gross Margin = 42.62% ((Revenue TTM 9.83b - Cost of Revenue TTM 5.64b) / Revenue TTM)
Gross Margin QoQ = 41.03% (prev 47.08%)
Tobins Q-Ratio = 1.02 (Enterprise Value 23.03b / Total Assets 22.54b)
Interest Expense / Debt = 1.16% (Interest Expense 170.0m / Debt 14.61b)
Taxrate = 1.28% (5.47m / 428.7m)
NOPAT = 1.30b (EBIT 1.31b * (1 - 1.28%))
Current Ratio = 0.21 (Total Current Assets 1.14b / Total Current Liabilities 5.45b)
Debt / Equity = 6.61 (Debt 14.61b / totalStockholderEquity, last quarter 2.21b)
Debt / EBITDA = 6.12 (Net Debt 14.40b / EBITDA 2.35b)
Debt / FCF = -12.31 (negative FCF - burning cash) (Net Debt 14.40b / FCF TTM -1.17b)
Total Stockholder Equity = 1.85b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.99% (Net Income 423.2m / Total Assets 22.54b)
RoE = 22.91% (Net Income TTM 423.2m / Total Stockholder Equity 1.85b)
RoCE = 8.43% (EBIT 1.31b / Capital Employed (Equity 1.85b + L.T.Debt 13.73b))
RoIC = 8.07% (NOPAT 1.30b / Invested Capital 16.07b)
WACC = 5.53% (E(8.63b)/V(23.24b) * Re(12.93%) + D(14.61b)/V(23.24b) * Rd(1.16%) * (1-Tc(0.01)))
Discount Rate = 12.93% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 3.93%
[DCF] Fair Price = unknown (Cash Flow -1.17b)
EPS Correlation: 79.09 | EPS CAGR: 179.4% | SUE: 0.29 | # QB: 0
Revenue Correlation: 71.92 | Revenue CAGR: 47.55% | SUE: -2.51 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.59 | Chg7d=-0.010 | Chg30d=-0.060 | Revisions Net=-4 | Analysts=17
EPS current Year (2026-12-31): EPS=2.35 | Chg7d=-0.019 | Chg30d=-0.260 | Revisions Net=-20 | Growth EPS=+11.6% | Growth Revenue=+7.9%
EPS next Year (2027-12-31): EPS=2.67 | Chg7d=-0.019 | Chg30d=-0.282 | Revisions Net=-15 | Growth EPS=+13.6% | Growth Revenue=+6.8%
[Analyst] Revisions Ratio: -0.33 (4 Up / 8 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 8.1% (Discount Rate 12.9% - Earnings Yield 4.9%)
[Growth] Growth Spread = +0.8% (Analyst 8.8% - Implied 8.1%)
P/E Forward = 7.716
P/S = 0.8784
P/B = 3.9063
P/EG = 0.4498
Revenue TTM = 9.83b USD
EBIT TTM = 1.31b USD
EBITDA TTM = 2.35b USD
Long Term Debt = 13.73b USD (from longTermDebt, last quarter)
Short Term Debt = 875.9m USD (from shortTermDebt, last quarter)
Debt = 14.61b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 14.40b USD (from netDebt column, last quarter)
Enterprise Value = 23.03b USD (8.63b + Debt 14.61b - CCE 209.9m)
Interest Coverage Ratio = 1.48 (Ebit TTM 1.31b / Interest Expense TTM 885.1m)
EV/FCF = -19.69x (Enterprise Value 23.03b / FCF TTM -1.17b)
FCF Yield = -5.08% (FCF TTM -1.17b / Enterprise Value 23.03b)
FCF Margin = -11.90% (FCF TTM -1.17b / Revenue TTM 9.83b)
Net Margin = 4.31% (Net Income TTM 423.2m / Revenue TTM 9.83b)
Gross Margin = 42.62% ((Revenue TTM 9.83b - Cost of Revenue TTM 5.64b) / Revenue TTM)
Gross Margin QoQ = 41.03% (prev 47.08%)
Tobins Q-Ratio = 1.02 (Enterprise Value 23.03b / Total Assets 22.54b)
Interest Expense / Debt = 1.16% (Interest Expense 170.0m / Debt 14.61b)
Taxrate = 1.28% (5.47m / 428.7m)
NOPAT = 1.30b (EBIT 1.31b * (1 - 1.28%))
Current Ratio = 0.21 (Total Current Assets 1.14b / Total Current Liabilities 5.45b)
Debt / Equity = 6.61 (Debt 14.61b / totalStockholderEquity, last quarter 2.21b)
Debt / EBITDA = 6.12 (Net Debt 14.40b / EBITDA 2.35b)
Debt / FCF = -12.31 (negative FCF - burning cash) (Net Debt 14.40b / FCF TTM -1.17b)
Total Stockholder Equity = 1.85b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.99% (Net Income 423.2m / Total Assets 22.54b)
RoE = 22.91% (Net Income TTM 423.2m / Total Stockholder Equity 1.85b)
RoCE = 8.43% (EBIT 1.31b / Capital Employed (Equity 1.85b + L.T.Debt 13.73b))
RoIC = 8.07% (NOPAT 1.30b / Invested Capital 16.07b)
WACC = 5.53% (E(8.63b)/V(23.24b) * Re(12.93%) + D(14.61b)/V(23.24b) * Rd(1.16%) * (1-Tc(0.01)))
Discount Rate = 12.93% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 3.93%
[DCF] Fair Price = unknown (Cash Flow -1.17b)
EPS Correlation: 79.09 | EPS CAGR: 179.4% | SUE: 0.29 | # QB: 0
Revenue Correlation: 71.92 | Revenue CAGR: 47.55% | SUE: -2.51 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.59 | Chg7d=-0.010 | Chg30d=-0.060 | Revisions Net=-4 | Analysts=17
EPS current Year (2026-12-31): EPS=2.35 | Chg7d=-0.019 | Chg30d=-0.260 | Revisions Net=-20 | Growth EPS=+11.6% | Growth Revenue=+7.9%
EPS next Year (2027-12-31): EPS=2.67 | Chg7d=-0.019 | Chg30d=-0.282 | Revisions Net=-15 | Growth EPS=+13.6% | Growth Revenue=+6.8%
[Analyst] Revisions Ratio: -0.33 (4 Up / 8 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 8.1% (Discount Rate 12.9% - Earnings Yield 4.9%)
[Growth] Growth Spread = +0.8% (Analyst 8.8% - Implied 8.1%)