NORWEGIAN CRUISE LINE HOLDIN (NCLH) Stock Fundamental Analysis

NYSE:NCLH • BMG667211046

24.1 USD
+2.61 (+12.15%)
At close: Feb 17, 2026
24.01 USD
-0.09 (-0.37%)
After Hours: 2/17/2026, 6:45:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

NCLH gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 126 industry peers in the Hotels, Restaurants & Leisure industry. While NCLH is still in line with the averages on profitability rating, there are concerns on its financial health. NCLH has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • NCLH had positive earnings in the past year.
  • 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.
  • The reported operating cash flow has been mixed in the past 5 years: NCLH reported negative operating cash flow in multiple 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 0 2B -2B -4B

1.2 Ratios

  • NCLH has a Return On Assets of 2.99%. This is comparable to the rest of the industry: NCLH outperforms 53.17% of its industry peers.
  • NCLH has a better Return On Equity (30.26%) than 83.33% of its industry peers.
  • NCLH has a better Return On Invested Capital (7.44%) than 60.32% of its industry peers.
Industry RankSector Rank
ROA 2.99%
ROE 30.26%
ROIC 7.44%
ROA(3y)-2.27%
ROA(5y)-10.54%
ROE(3y)-1056.87%
ROE(5y)-689.6%
ROIC(3y)N/A
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 0 -1K -2K -3K

1.3 Margins

  • NCLH has a better Profit Margin (6.85%) than 61.90% of its industry peers.
  • In the last couple of years the Profit Margin of NCLH has declined.
  • NCLH has a Operating Margin of 16.39%. This is in the better half of the industry: NCLH outperforms 69.84% of its industry peers.
  • In the last couple of years the Operating Margin of NCLH has declined.
  • With a Gross Margin value of 41.98%, NCLH is not doing good in the industry: 61.90% of the companies in the same industry are doing better.
  • NCLH's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 16.39%
PM (TTM) 6.85%
GM 41.98%
OM growth 3YN/A
OM growth 5Y-3.24%
PM growth 3YN/A
PM growth 5Y-7.78%
GM growth 3YN/A
GM growth 5Y-1.58%
NCLH Yearly Profit, Operating, Gross MarginsNCLH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200 -400 -600

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so NCLH is still creating some value.
  • The number of shares outstanding for NCLH has been increased compared to 1 year ago.
  • NCLH has more shares outstanding than it did 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 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 5B 10B 15B

2.2 Solvency

  • Based on the Altman-Z score of 0.38, we must say that NCLH is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.38, NCLH is doing worse than 79.37% of the companies in the same industry.
  • A Debt/Equity ratio of 6.22 is on the high side and indicates that NCLH has dependencies on debt financing.
  • The Debt to Equity ratio of NCLH (6.22) is worse than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 6.22
Debt/FCF N/A
Altman-Z 0.38
ROIC/WACC1.01
WACC7.4%
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 0 5B 10B

2.3 Liquidity

  • A Current Ratio of 0.19 indicates that NCLH may have some problems paying its short term obligations.
  • NCLH has a Current ratio of 0.19. This is amonst the worse of the industry: NCLH underperforms 96.03% of its industry peers.
  • A Quick Ratio of 0.17 indicates that NCLH may have some problems paying its short term obligations.
  • NCLH has a Quick ratio of 0.17. This is amonst the worse of the industry: NCLH underperforms 95.24% of its industry peers.
Industry RankSector Rank
Current Ratio 0.19
Quick Ratio 0.17
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 2B 4B 6B

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

5

3. Growth

3.1 Past

  • NCLH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 48.91%, which is quite impressive.
  • The earnings per share for NCLH have been decreasing by -18.68% on average. This is quite bad
  • Looking at the last year, NCLH shows a small growth in Revenue. The Revenue has grown by 3.59% in the last year.
  • NCLH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.96% yearly.
EPS 1Y (TTM)48.91%
EPS 3YN/A
EPS 5Y-18.68%
EPS Q2Q%21.21%
Revenue 1Y (TTM)3.59%
Revenue growth 3Y144.57%
Revenue growth 5Y7.96%
Sales Q2Q%4.69%

3.2 Future

  • The Earnings Per Share is expected to grow by 19.86% on average over the next years. This is quite good.
  • Based on estimates for the next years, NCLH will show a small growth in Revenue. The Revenue will grow by 7.48% on average per year.
EPS Next Y16.93%
EPS Next 2Y20.8%
EPS Next 3Y18.96%
EPS Next 5Y19.86%
Revenue Next Year4.75%
Revenue Next 2Y7.33%
Revenue Next 3Y7.18%
Revenue Next 5Y7.48%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is stable: in the next years the growth will be about the same 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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Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 11.81, the valuation of NCLH can be described as reasonable.
  • Based on the Price/Earnings ratio, NCLH is valued cheaper than 87.30% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.16, NCLH is valued rather cheaply.
  • The Price/Forward Earnings ratio is 9.12, which indicates a very decent valuation of NCLH.
  • Based on the Price/Forward Earnings ratio, NCLH is valued cheaply inside the industry as 93.65% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 28.10. NCLH is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 11.81
Fwd PE 9.12
NCLH Price Earnings VS Forward Price EarningsNCLH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 69.84% of the companies in the same industry are more expensive than NCLH, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 9.2
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.
  • A more expensive valuation may be justified as NCLH's earnings are expected to grow with 18.96% in the coming years.
PEG (NY)0.7
PEG (5Y)N/A
EPS Next 2Y20.8%
EPS Next 3Y18.96%

More info and screens

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

0

5. Dividend

5.1 Amount

  • NCLH does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

NORWEGIAN CRUISE LINE HOLDIN

NYSE:NCLH (2/17/2026, 6:45:36 PM)

After market: 24.01 -0.09 (-0.37%)

24.1

+2.61 (+12.15%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)11-04
Earnings (Next)03-02
Inst Owners84.59%
Inst Owner Change0.3%
Ins Owners0.32%
Ins Owner Change0.67%
Market Cap10.97B
Revenue(TTM)9.69B
Net Income(TTM)663.53M
Analysts78.71
Price Target28.21 (17.05%)
Short Float %7.92%
Short Ratio1.89
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)1
Avg EPS beat(2)-0.72%
Min EPS beat(2)-3.06%
Max EPS beat(2)1.63%
EPS beat(4)2
Avg EPS beat(4)29.09%
Min EPS beat(4)-24.41%
Max EPS beat(4)142.19%
EPS beat(8)5
Avg EPS beat(8)17.57%
EPS beat(12)8
Avg EPS beat(12)13.92%
EPS beat(16)9
Avg EPS beat(16)6.97%
Revenue beat(2)0
Avg Revenue beat(2)-3.97%
Min Revenue beat(2)-4.54%
Max Revenue beat(2)-3.4%
Revenue beat(4)0
Avg Revenue beat(4)-3.11%
Min Revenue beat(4)-4.54%
Max Revenue beat(4)-1.75%
Revenue beat(8)0
Avg Revenue beat(8)-2.62%
Revenue beat(12)1
Avg Revenue beat(12)-1.79%
Revenue beat(16)1
Avg Revenue beat(16)-4.78%
PT rev (1m)1.11%
PT rev (3m)-9.29%
EPS NQ rev (1m)-1.12%
EPS NQ rev (3m)-2.72%
EPS NY rev (1m)0.05%
EPS NY rev (3m)0.09%
Revenue NQ rev (1m)-0.04%
Revenue NQ rev (3m)-0.75%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.26%
Valuation
Industry RankSector Rank
PE 11.81
Fwd PE 9.12
P/S 1.13
P/FCF N/A
P/OCF 5.41
P/B 5
P/tB 7.05
EV/EBITDA 9.2
EPS(TTM)2.04
EY8.46%
EPS(NY)2.64
Fwd EY10.96%
FCF(TTM)-2.27
FCFYN/A
OCF(TTM)4.46
OCFY18.5%
SpS21.29
BVpS4.82
TBVpS3.42
PEG (NY)0.7
PEG (5Y)N/A
Graham Number14.87
Profitability
Industry RankSector Rank
ROA 2.99%
ROE 30.26%
ROCE 9.42%
ROIC 7.44%
ROICexc 7.52%
ROICexgc 7.82%
OM 16.39%
PM (TTM) 6.85%
GM 41.98%
FCFM N/A
ROA(3y)-2.27%
ROA(5y)-10.54%
ROE(3y)-1056.87%
ROE(5y)-689.6%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y-0.2%
ROICexc growth 3YN/A
ROICexc growth 5Y2.69%
OM growth 3YN/A
OM growth 5Y-3.24%
PM growth 3YN/A
PM growth 5Y-7.78%
GM growth 3YN/A
GM growth 5Y-1.58%
F-Score5
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 6.22
Debt/FCF N/A
Debt/EBITDA 5.2
Cap/Depr 296.35%
Cap/Sales 31.63%
Interest Coverage 250
Cash Conversion 77.38%
Profit Quality N/A
Current Ratio 0.19
Quick Ratio 0.17
Altman-Z 0.38
F-Score5
WACC7.4%
ROIC/WACC1.01
Cap/Depr(3y)218.66%
Cap/Depr(5y)176.64%
Cap/Sales(3y)27.26%
Cap/Sales(5y)54.38%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)48.91%
EPS 3YN/A
EPS 5Y-18.68%
EPS Q2Q%21.21%
EPS Next Y16.93%
EPS Next 2Y20.8%
EPS Next 3Y18.96%
EPS Next 5Y19.86%
Revenue 1Y (TTM)3.59%
Revenue growth 3Y144.57%
Revenue growth 5Y7.96%
Sales Q2Q%4.69%
Revenue Next Year4.75%
Revenue Next 2Y7.33%
Revenue Next 3Y7.18%
Revenue Next 5Y7.48%
EBIT growth 1Y15.52%
EBIT growth 3YN/A
EBIT growth 5Y4.47%
EBIT Next Year79.71%
EBIT Next 3Y30.38%
EBIT Next 5Y21.79%
FCF growth 1Y-276.68%
FCF growth 3YN/A
FCF growth 5Y35.24%
OCF growth 1Y2.35%
OCF growth 3YN/A
OCF growth 5Y2.38%

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 6 / 10 to NORWEGIAN CRUISE LINE HOLDIN (NCLH). This can be considered as Fairly Valued.


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 1 / 10.