Stocktoria

Norwegian Cruise Line Holdings Ltd. NCLH

NYSE · stock · Water Transportation · website · IPO 2013-01-18

Norwegian Cruise Line Holdings Ltd. statistics & valuation

P / E23.0×
P / S1.0×
P / B4.4×
Net margin4.3%
FCF margin-11.9%
Return on capital9.1%
Graham number -48.3%$9.79

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($9.79); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
13.00% 14.10% 15.80% 14.40% -313.50% -695.50% -46.90% 1.90% 9.60% 4.30% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
19.00% 19.40% 20.10% 18.20% -272.20% -393.90% -32.00% 10.90% 15.50% 15.90% 2016201720182019202020212022202320242025
Return on equity (%)
14.00% 13.20% 16.00% 14.30% -92.20% -185.30% -3309.30% 55.20% 63.90% 19.20% 2016201720182019202020212022202320242025
Shares outstanding
227.9M 229.4M 224.4M 216.5M 315.6M 416.9M 421.4M 427.4M 515.0M 477.7M 2016201720182019202020212022202320242025
Net debt ($)
-$1.75B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.90% 5.40% 6.30% 5.60% -21.80% -24.10% -12.20% 0.90% 4.60% 1.90% 2016201720182019202020212022202320242025
Free cash flow margin (%)
3.50% 4.20% 8.40% 2.90% -273.70% -497.10% -32.50% -8.70% 8.80% -11.90% 2016201720182019202020212022202320242025
Debt / equity (×)
0.36× 2016201720182019202020212022202320242025
EPS ($)
$2.78 $3.31 $4.25 $4.30 -$15.75 -$12.33 -$5.41 $0.39 $1.89 $0.92 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Norwegian Cruise Line Holdings Ltd. trades at about 20.6× earnings — below its 10-year norm (10-year range 12.1×–71.5×, median 23.9×).

12.1× 71.5×

Shaded band = 10-year range (12.1×–71.5×); dot = today's 20.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin15.9%15.5%10.9%-32.0%-393.9%-272.2%18.2%20.1%19.4%19.0%
Net margin4.3%9.6%1.9%-46.9%-695.5%-313.5%14.4%15.8%14.1%13.0%
FCF margin-11.9%8.8%-8.7%-32.5%-497.1%-273.7%2.9%8.4%4.2%3.5%
Return on assets1.9%4.6%0.9%-12.2%-24.1%-21.8%5.6%6.3%5.4%4.9%
Return on equity19.2%63.9%55.2%-3309.3%-185.3%-92.2%14.3%16.0%13.2%14.0%
Debt / equity0.36×
Current ratio0.210.170.220.370.891.860.200.170.210.18

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.