NORWEGIAN CRUISE LINE HOLDIN (NCLH) Fundamental Analysis & Valuation

NYSE:NCLH • BMG667211046

19.74 USD
+0.28 (+1.44%)
Last: Mar 13, 2026, 10:31 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

3

Overall NCLH gets a fundamental rating of 3 out of 10. We evaluated NCLH against 126 industry peers in the Hotels, Restaurants & Leisure industry. There are concerns on the financial health of NCLH while its profitability can be described as average. NCLH is valued quite cheap, while showing a decent growth score. This is a good combination!


Dividend Valuation Growth Profitability Health

4

1. NCLH Profitability Analysis

1.1 Basic Checks

  • NCLH had positive earnings in the past year.
  • NCLH had a positive operating cash flow in the past year.
  • In multiple years NCLH reported negative net income over the last 5 years.
  • NCLH had a positive operating cash flow in 4 of the past 5 years.
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 comparable to the rest of the industry.
  • NCLH has a better Return On Equity (19.15%) than 78.57% of its industry peers.
  • NCLH has a Return On Invested Capital of 7.22%. This is comparable to the rest of the industry: NCLH outperforms 57.94% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NCLH is below the industry average of 10.48%.
  • 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

  • The Profit Margin of NCLH (4.31%) is comparable to the rest of the industry.
  • Looking at the Operating Margin, with a value of 15.88%, NCLH is in the better half of the industry, outperforming 69.84% of the companies in the same industry.
  • The Gross Margin of NCLH (42.62%) is worse than 60.32% of its industry peers.
  • NCLH's Gross Margin has improved in the last couple of years.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

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
  • Compared to 5 years ago, NCLH has more shares outstanding
  • 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

  • Based on the Altman-Z score of 0.35, we must say that NCLH is in the distress zone and has some risk of bankruptcy.
  • NCLH has a worse Altman-Z score (0.35) than 82.54% 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.
  • NCLH's Debt to Equity ratio of 6.21 is on the low side compared to the rest of the industry. NCLH is outperformed by 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 6.21
Debt/FCF N/A
Altman-Z 0.35
ROIC/WACC0.92
WACC7.82%
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

  • NCLH has a Current Ratio of 0.21. This is a bad value and indicates that NCLH is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NCLH has a worse Current ratio (0.21) than 96.03% of its industry peers.
  • A Quick Ratio of 0.18 indicates that NCLH may have some problems paying its short term obligations.
  • The Quick ratio of NCLH (0.18) is worse 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

  • NCLH is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.24% yearly.
  • The Revenue is expected to grow by 9.03% on average over the next years. This is quite good.
EPS Next Y26.3%
EPS Next 2Y20.59%
EPS Next 3Y22.14%
EPS Next 5Y21.24%
Revenue Next Year9.8%
Revenue Next 2Y8.27%
Revenue Next 3Y9.22%
Revenue Next 5Y9.03%

3.3 Evolution

  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

  • A Price/Earnings ratio of 9.58 indicates a reasonable valuation of NCLH.
  • Based on the Price/Earnings ratio, NCLH is valued cheaply inside the industry as 90.48% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 25.71. NCLH is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 7.59 indicates a rather cheap valuation of NCLH.
  • Based on the Price/Forward Earnings ratio, NCLH is valued cheaper than 94.44% of the companies in the same industry.
  • NCLH's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.82.
Industry RankSector Rank
PE 9.58
Fwd PE 7.59
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

  • NCLH's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NCLH is cheaper than 74.60% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.54
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

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as NCLH's earnings are expected to grow with 22.14% in the coming years.
PEG (NY)0.36
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 (3/13/2026, 10:31:09 AM)

19.74

+0.28 (+1.44%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)03-02
Earnings (Next)04-28
Inst Owners86.65%
Inst Owner Change0.85%
Ins Owners0.4%
Ins Owner Change1.5%
Market Cap8.99B
Revenue(TTM)9.83B
Net Income(TTM)423.25M
Analysts77.42
Price Target28.12 (42.45%)
Short Float %7.66%
Short Ratio1.72
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)-0.34%
PT rev (3m)-1.21%
EPS NQ rev (1m)-20.94%
EPS NQ rev (3m)-23.04%
EPS NY rev (1m)-1.5%
EPS NY rev (3m)-3.16%
Revenue NQ rev (1m)-0.82%
Revenue NQ rev (3m)-0.45%
Revenue NY rev (1m)-0.16%
Revenue NY rev (3m)-0.87%
Valuation
Industry RankSector Rank
PE 9.58
Fwd PE 7.59
P/S 0.91
P/FCF N/A
P/OCF 4.3
P/B 4.07
P/tB 5.71
EV/EBITDA 8.54
EPS(TTM)2.06
EY10.44%
EPS(NY)2.6
Fwd EY13.18%
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)4.59
OCFY23.25%
SpS21.59
BVpS4.85
TBVpS3.46
PEG (NY)0.36
PEG (5Y)N/A
Graham Number15
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 0.35
F-Score5
WACC7.82%
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 Year9.8%
Revenue Next 2Y8.27%
Revenue Next 3Y9.22%
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 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.