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
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%
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Peers
Water Transportation · Pick stocks to compare with NCLH
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
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
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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.
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