Intrinsiqq
Norwegian Cruise Line Holdings Ltd. logo

Norwegian Cruise Line Holdings Ltd.

NCLH

⊜ Compare

History and Development of the Company Norwegian commenced operations from Miami, Florida in 1966, launching the modern cruise industry by offering weekly departures from Miami, Florida to destinations in the Caribbean. In January 2013, NCLH completed its initial public offering and the ordinary shares of NCLC were exchanged for the ordinary shares of NCLH, and NCLH became the owner of 100% of …

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$8.07B
EPS$1.86
P/E9.45
P/FCF-14.31
EV/EBITDA6.81
FCF Yield–
Div. Yield–
Net Debt/FCF-28.0x
Norwegian Cruise Line Holdings Ltd. intrinsic value
52-Week Range
$14.13$25.02

Profitability & Returns

Revenue (TTM)

$10.16B

▲ +3.7% YoY

Net Income (TTM)

$833M

▼ -53.5% YoY

Op. Margin

22.06%

▲ +11.4pp YoY

ROIC

9.58%

▲ +8.3pp YoY

Cash Flow & Balance Sheet

FCF (TTM)

-$564M

▼ -239.5% YoY

Op. Cash Flow (TTM)

$2.17B

▲ +1.9% YoY

Net Debt

$15.77B

Cash & Equiv.

$257M

5Y CAGR: +50.3%

Continue Research

Peers

Water Transportation · Pick stocks to compare with NCLH

CompareIntrinsic value
KEXKirby Corporation
$143.93-1.42%76
MATXMatson Inc.
$223.85-1.38%31
TDWTidewater Inc.
$87.33+2.40%81
INSWInternational Seaways Inc.
$111.95-1.45%91
RCLRoyal Caribbean Group
$307.18-1.08%68
CCLCarnival Corporation Ltd.
$28.83-0.03%74
NMMNavios Maritime Partners L.P.
$90.02-1.11%26
SBLKStar Bulk Carriers Corp.
$28.36-1.83%28

Held by ETFs

NCLH is in 144 US ETFs. The largest of them, with NCLH's weight in each:

Norwegian Cruise Line Holdings (NCLH) in four numbers

Fair value (earnings)
$16.52
Price $17.58 is 6% above it.
Intrinsic Value
Quality score
44/100
Best check: revenue growth, 20.4%. Weakest: net debt, $15.77B.
Quality
Dividend
None
Last paid in 2016, nothing since.
Dividends
P/E
9.45
Price to free cash flow -14.31.
Financials

Questions about Norwegian Cruise Line Holdings

Is Norwegian Cruise Line Holdings (NCLH) overvalued?

At $17.58, Norwegian Cruise Line Holdings' price is 6% above the $16.52 a share fair value that Intrinsiqq's calculator gets from its earnings. It trades at 9.45 times earnings. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is Norwegian Cruise Line Holdings' fair value?

Intrinsiqq's calculator puts Norwegian Cruise Line Holdings' fair value at $16.52 a share. It grows earnings per share 0% a year for 5 years, applies an exit P/E of 14.3, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of $12.39. Every input can be changed on the Intrinsic Value tab.

Is Norwegian Cruise Line Holdings a high-quality business?

Norwegian Cruise Line Holdings scores 44 out of 100 on Intrinsiqq's quality score, which makes it a mixed business on these measures. The score blends 7 checks computed from SEC filings. Its best check is revenue growth at 20.4%, and its weakest is net debt at $15.77B. The Quality tab shows every check against its target.

Does Norwegian Cruise Line Holdings (NCLH) pay a dividend?

No. Norwegian Cruise Line Holdings (NCLH) does not currently pay a dividend. The last payment in our data was in 2016, and nothing has been paid since. Nor has its share count fallen meaningfully over the last twelve months, so cash is kept in the business. The Dividends tab shows its cash returns.

Source: 10-Q filed 22 Oct 2026 (period ending 30 Sept 2026), SEC. Price: last close 30 Oct 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

Spot a number that looks wrong? Check it in NCLH's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

2 of 2 free stocks used today

Keep analysing NCLH

Create a free account and get 14 days of Premium: every stock and every tool.

  • Unlimited stocks
  • Stock screener
  • Portfolio tracker
  • Editable DCF
  • Compare side by side
  • Unlimited alerts

No card. Moves to Free after, unless you upgrade.

Already have an account?

Or come back tomorrow. Stocks on your watchlist are always free to view.

SectorsPrivacyTerms© 2026 Intrinsiqq

Not financial advice. Analytical data for research only.

Intrinsiqq is a Netherlands-based company operating in Rotterdam, KvK 73238007.