NORWEGIAN CRUISE LINE HOLDIN (NCLH) Fundamental Analysis & Valuation

NYSE:NCLH • BMG667211046

Current stock price

17.65 USD
-0.84 (-4.54%)
At close:
17.6968 USD
+0.05 (+0.27%)
After Hours:

This NCLH fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. NCLH Profitability Analysis

1.1 Basic Checks

  • In the past year NCLH was profitable.
  • In the past year NCLH had a positive cash flow from operations.
  • In multiple years NCLH reported negative net income over the last 5 years.
  • Of the past 5 years NCLH 4 years had a positive operating cash flow.
NCLH Yearly Net Income VS EBIT VS OCF VS FCFNCLH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B -4B

1.2 Ratios

  • NCLH has a Return On Assets (1.88%) which is in line with its industry peers.
  • The Return On Equity of NCLH (19.15%) is better than 77.78% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 7.22%, NCLH is in line with its industry, outperforming 57.14% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for NCLH is below the industry average of 10.68%.
  • The 3 year average ROIC (6.95%) for NCLH is below the current ROIC(7.22%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.88%
ROE 19.15%
ROIC 7.22%
ROA(3y)2.43%
ROA(5y)-5.8%
ROE(3y)46.08%
ROE(5y)-667.34%
ROIC(3y)6.95%
ROIC(5y)N/A
NCLH Yearly ROA, ROE, ROICNCLH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -1K -2K -3K

1.3 Margins

  • Looking at the Profit Margin, with a value of 4.31%, NCLH is in line with its industry, outperforming 55.56% of the companies in the same industry.
  • NCLH has a better Operating Margin (15.88%) than 69.84% of its industry peers.
  • NCLH has a Gross Margin of 42.62%. This is in the lower half of the industry: NCLH underperforms 60.32% of its industry peers.
  • In the last couple of years the Gross Margin of NCLH has grown nicely.
Industry RankSector Rank
OM 15.88%
PM (TTM) 4.31%
GM 42.62%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y52.97%
GM growth 5YN/A
NCLH Yearly Profit, Operating, Gross MarginsNCLH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -200 -400 -600

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0

2. NCLH Health Analysis

2.1 Basic Checks

  • NCLH has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, NCLH has more shares outstanding
  • The number of shares outstanding for NCLH has been increased compared to 5 years ago.
  • The debt/assets ratio for NCLH has been reduced compared to a year ago.
NCLH Yearly Shares OutstandingNCLH Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
NCLH Yearly Total Debt VS Total AssetsNCLH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.2 Solvency

  • NCLH has an Altman-Z score of 0.34. This is a bad value and indicates that NCLH is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of NCLH (0.34) is worse than 81.75% of its industry peers.
  • NCLH has a Debt/Equity ratio of 6.21. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 6.21, NCLH is doing worse than 66.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 6.21
Debt/FCF N/A
Altman-Z 0.34
ROIC/WACC0.92
WACC7.84%
NCLH Yearly LT Debt VS Equity VS FCFNCLH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B

2.3 Liquidity

  • A Current Ratio of 0.21 indicates that NCLH may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.21, NCLH is doing worse than 96.03% of the companies in the same industry.
  • A Quick Ratio of 0.18 indicates that NCLH may have some problems paying its short term obligations.
  • NCLH has a worse Quick ratio (0.18) than 95.24% of its industry peers.
Industry RankSector Rank
Current Ratio 0.21
Quick Ratio 0.18
NCLH Yearly Current Assets VS Current LiabilitesNCLH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. NCLH Growth Analysis

3.1 Past

  • NCLH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.81%, which is quite good.
  • NCLH shows a small growth in Revenue. In the last year, the Revenue has grown by 3.67%.
  • NCLH shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 50.33% yearly.
EPS 1Y (TTM)13.81%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%7.69%
Revenue 1Y (TTM)3.67%
Revenue growth 3Y26.6%
Revenue growth 5Y50.33%
Sales Q2Q%6.4%

3.2 Future

  • The Earnings Per Share is expected to grow by 21.24% on average over the next years. This is a very strong growth
  • NCLH is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.03% yearly.
EPS Next Y26.3%
EPS Next 2Y20.59%
EPS Next 3Y22.14%
EPS Next 5Y21.24%
Revenue Next Year6.81%
Revenue Next 2Y6.71%
Revenue Next 3Y6.46%
Revenue Next 5Y9.03%

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NCLH Yearly Revenue VS EstimatesNCLH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B
NCLH Yearly EPS VS EstimatesNCLH Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 5 -5

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7

4. NCLH Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 8.57, the valuation of NCLH can be described as very reasonable.
  • NCLH's Price/Earnings ratio is rather cheap when compared to the industry. NCLH is cheaper than 91.27% of the companies in the same industry.
  • NCLH is valuated cheaply when we compare the Price/Earnings ratio to 24.75, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 6.78, which indicates a rather cheap valuation of NCLH.
  • NCLH's Price/Forward Earnings ratio is rather cheap when compared to the industry. NCLH is cheaper than 94.44% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, NCLH is valued rather cheaply.
Industry RankSector Rank
PE 8.57
Fwd PE 6.78
NCLH Price Earnings VS Forward Price EarningsNCLH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NCLH is valued a bit cheaper than the industry average as 76.19% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.38
NCLH Per share dataNCLH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

  • NCLH's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • NCLH's earnings are expected to grow with 22.14% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.33
PEG (5Y)N/A
EPS Next 2Y20.59%
EPS Next 3Y22.14%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. NCLH Dividend Analysis

5.1 Amount

  • No dividends for NCLH!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

NCLH Fundamentals: All Metrics, Ratios and Statistics

NORWEGIAN CRUISE LINE HOLDIN

NYSE:NCLH (3/30/2026, 7:24:13 PM)

After market: 17.6968 +0.05 (+0.27%)

17.65

-0.84 (-4.54%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)03-02
Earnings (Next)04-28
Inst Owners86.65%
Inst Owner Change0.88%
Ins Owners0.4%
Ins Owner Change5.23%
Market Cap8.04B
Revenue(TTM)9.83B
Net Income(TTM)423.25M
Analysts77.42
Price Target27.19 (54.05%)
Short Float %7.81%
Short Ratio1.58
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.48%
Min EPS beat(2)1.63%
Max EPS beat(2)5.34%
EPS beat(4)2
Avg EPS beat(4)-5.13%
Min EPS beat(4)-24.41%
Max EPS beat(4)5.34%
EPS beat(8)6
Avg EPS beat(8)21.91%
EPS beat(12)9
Avg EPS beat(12)15.98%
EPS beat(16)10
Avg EPS beat(16)8.52%
Revenue beat(2)0
Avg Revenue beat(2)-5.4%
Min Revenue beat(2)-6.25%
Max Revenue beat(2)-4.54%
Revenue beat(4)0
Avg Revenue beat(4)-4.24%
Min Revenue beat(4)-6.25%
Max Revenue beat(4)-2.76%
Revenue beat(8)0
Avg Revenue beat(8)-3.26%
Revenue beat(12)1
Avg Revenue beat(12)-2.24%
Revenue beat(16)1
Avg Revenue beat(16)-4.15%
PT rev (1m)-3.62%
PT rev (3m)-2.55%
EPS NQ rev (1m)16.84%
EPS NQ rev (3m)-8.62%
EPS NY rev (1m)-1.5%
EPS NY rev (3m)-2.43%
Revenue NQ rev (1m)-0.45%
Revenue NQ rev (3m)-1.23%
Revenue NY rev (1m)-2.81%
Revenue NY rev (3m)-3.13%
Valuation
Industry RankSector Rank
PE 8.57
Fwd PE 6.78
P/S 0.82
P/FCF N/A
P/OCF 3.85
P/B 3.64
P/tB 5.11
EV/EBITDA 8.38
EPS(TTM)2.06
EY11.67%
EPS(NY)2.6
Fwd EY14.74%
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)4.59
OCFY25.99%
SpS21.57
BVpS4.85
TBVpS3.45
PEG (NY)0.33
PEG (5Y)N/A
Graham Number14.99
Profitability
Industry RankSector Rank
ROA 1.88%
ROE 19.15%
ROCE 9.13%
ROIC 7.22%
ROICexc 7.31%
ROICexgc 7.59%
OM 15.88%
PM (TTM) 4.31%
GM 42.62%
FCFM N/A
ROA(3y)2.43%
ROA(5y)-5.8%
ROE(3y)46.08%
ROE(5y)-667.34%
ROIC(3y)6.95%
ROIC(5y)N/A
ROICexc(3y)7.07%
ROICexc(5y)N/A
ROICexgc(3y)7.39%
ROICexgc(5y)N/A
ROCE(3y)8.79%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y52.97%
GM growth 5YN/A
F-Score5
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 6.21
Debt/FCF N/A
Debt/EBITDA 5.04
Cap/Depr 280.49%
Cap/Sales 33.17%
Interest Coverage 1.64
Cash Conversion 76.74%
Profit Quality N/A
Current Ratio 0.21
Quick Ratio 0.18
Altman-Z 0.34
F-Score5
WACC7.84%
ROIC/WACC0.92
Cap/Depr(3y)238.76%
Cap/Depr(5y)207.14%
Cap/Sales(3y)26.04%
Cap/Sales(5y)46.22%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.81%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%7.69%
EPS Next Y26.3%
EPS Next 2Y20.59%
EPS Next 3Y22.14%
EPS Next 5Y21.24%
Revenue 1Y (TTM)3.67%
Revenue growth 3Y26.6%
Revenue growth 5Y50.33%
Sales Q2Q%6.4%
Revenue Next Year6.81%
Revenue Next 2Y6.71%
Revenue Next 3Y6.46%
Revenue Next 5Y9.03%
EBIT growth 1Y6.48%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year80.04%
EBIT Next 3Y29.64%
EBIT Next 5Y21.42%
FCF growth 1Y-239.46%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y1.95%
OCF growth 3Y115.09%
OCF growth 5YN/A

NORWEGIAN CRUISE LINE HOLDIN / NCLH Fundamental Analysis FAQ

What is the ChartMill fundamental rating of NORWEGIAN CRUISE LINE HOLDIN (NCLH) stock?

ChartMill assigns a fundamental rating of 3 / 10 to NCLH.


Can you provide the valuation status for NORWEGIAN CRUISE LINE HOLDIN?

ChartMill assigns a valuation rating of 7 / 10 to NORWEGIAN CRUISE LINE HOLDIN (NCLH). This can be considered as Undervalued.


Can you provide the profitability details for NORWEGIAN CRUISE LINE HOLDIN?

NORWEGIAN CRUISE LINE HOLDIN (NCLH) has a profitability rating of 4 / 10.


Can you provide the financial health for NCLH stock?

The financial health rating of NORWEGIAN CRUISE LINE HOLDIN (NCLH) is 0 / 10.