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Norwegian Cruise Line Holdings Ltd. logo
Norwegian Cruise Line Holdings Ltd. NCLH
$ 14.87 0.85%
report update icon

Quarterly report 2026-Q2
added 08-03-2026

Norwegian Cruise Line Holdings Ltd. Financial Ratios 2025-2010 | NCLH

Brief overview of Norwegian Cruise Line Holdings Ltd.'s multiples and efficiency

The comparison uses the five latest available annual observations between 2018 and 2025.

The latest available valuation ratios are P/E 23.61x (median 12.66x), EV/EBITDA 10.05x (median 12.65x), P/S 1.02x (median 1.09x). The multiple basket looks neutral against its history, differing from median levels by roughly -6.5%.

The inverse P/E implies an earnings yield of 4.2%. This is not a dividend yield, but current earnings relative to market price.

Current measures of operating quality are ROE 19.2%, ROA 1.9%, ROCE 70.6%. Profitability remains positive and sufficient for normal operations without indicating exceptional efficiency.

The time from paying for inputs to receiving cash fell from 321.5 days to 7.8 days. Cash turnover improved.

What the ratios show

Norwegian Cruise Line Holdings Ltd. trades near its familiar ratio range. A new earnings or profitability trend is needed to change the view.

Annual Financial Ratios Norwegian Cruise Line Holdings Ltd.

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010

P/E

23.6 11.3 47.9 -2.7 -1.7 -1.6 12.7 11.9 18.0 17.2 24.1 26.7 70.0 31.3 - -

P/S

1.0 1.1 0.9 1.3 11.7 5.1 1.8 1.9 2.5 2.2 2.4 2.9 2.8 2.3 - -

EPS

0.9 2.1 0.4 -5.4 -12.3 -15.8 4.3 4.3 3.3 2.8 1.9 1.6 0.5 0.9 0.7 -

EV (Enterprise Value)

30.1 B 28.7 B 26.8 B 23.7 B 22.4 B 17.2 B 21.7 B 20.4 B 21.8 B 19.2 B 18.6 B 17 B 11.1 B 9.14 B 3.66 B -55 M

EBITDA per Share

6.07 5.6 4.27 -1.77 -4.91 -10.8 8.49 7.98 6.84 5.98 5.01 3.76 3.01 2.73 - -

EV/EBITDA

11.1 11.7 14.7 -32.0 -12.3 -12.6 10.0 9.9 12.7 12.7 14.6 19.5 16.7 14.6 - -

PEG

-0.28 -0.09 -0.35 0.04 0.03 0.05 10.84 0.42 0.93 0.36 1.58 0.12 -1.73 0.93 - -

P/B

4.5 7.2 26.5 90.5 3.1 1.5 1.8 1.9 2.4 2.4 2.7 2.6 2.7 2.6 - -

P/CF

4.8 5.0 4.0 29.5 -3.1 -2.5 63.5 22.3 64.0 73.9 -126.1 -21.7 -17.0 55.6 - -

ROE %

19.15 63.86 55.25 -3309.33 -185.25 -92.15 14.28 16.01 13.22 13.95 11.30 9.62 3.90 8.35 - -

ROA %

1.88 4.56 0.85 -12.23 -24.06 -21.81 5.58 6.28 5.39 4.88 3.48 2.92 1.53 2.84 - -

ROCE %

70.63 102.84 309.47 -2262.33 -104.92 -80.02 8.99 10.11 9.04 8.68 7.10 5.30 7.10 7.15 - -

Current Ratio

1.1 1.1 1.0 1.0 1.1 1.3 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.2 - -

DSO

9.5 9.7 12.9 56.3 334.6 13.6 4.2 3.3 3.0 4.7 3.8 3.8 2.6 2.4 - -

DIO

9.3 9.9 10.2 11.4 22.8 19.2 9.5 9.7 9.8 8.5 8.0 10.6 9.6 9.8 - -

DPO

11.0 11.1 13.5 19.8 35.9 19.8 10.0 17.2 6.4 4.9 7.1 19.1 19.1 19.5 - -

Operating Cycle

18.9 19.5 23.2 67.7 357.4 32.8 13.8 13.1 12.8 13.2 11.8 14.4 12.2 12.2 - -

Cash Conversion Cycle

7.8 8.4 9.7 47.9 321.5 13.0 3.7 -4.2 6.4 8.4 4.7 -4.7 -6.9 -7.3 - -

All numbers in USD currency

Quarterly Financial Ratios Norwegian Cruise Line Holdings Ltd.

2026-Q2 2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

0.48 0.23 0.93 0.07 -0.09 - 1.08 0.38 0.04 - 0.81 0.2 -0.38 - -0.7 -1.22 -2.35 -4.01 -2.29 -1.94 -4.16 -2.51 -2.5 -2.99 -8.8 0.57 2.1 1.11 0.54 0.7 2.12 1.02 0.45 0.43 1.76 0.87 0.27 0.32 1.51 0.64 0.32 0.17 1.11 0.7 -0.1 -0.12 0.99 0.54 0.25 0.18 0.84 -0.04 -0.49 0.01 0.72 0.2 0.02 - - - -

EBITDA per Share

2.04 1.13 2.22 1.49 1.02 - 2.07 1.3 1.09 - 1.71 1.11 0.52 - - -0.51 -1.18 -1.65 -0.35 -0.63 -1.18 -1.73 0.17 -0.9 -7.62 0.94 4.64 2.95 1.51 0.96 4.38 2.54 1.33 0.78 3.78 2.3 1.06 0.68 3.26 1.94 1.04 0.52 2.79 1.91 0.74 0.2 2.21 1.41 0.7 0.3 1.9 1.04 0.44 2.36 1.88 1.08 0.56 - - - -

ROE %

33.98 22.49 60.02 64.48 67.36 70.20 149.05 672.98 809.45 804.66 730.77 595.45 -35.51 -195.55 -260.20 -215.65 -178.47 -144.59 -96.91 -83.13 -80.26 -92.15 -73.32 -50.85 -30.74 14.28 15.01 15.98 16.10 16.01 15.14 14.22 13.87 13.22 13.09 13.67 13.41 13.95 13.37 12.49 13.48 11.30 9.56 8.61 7.59 9.62 11.71 12.55 9.04 3.89 2.57 2.40 4.53 8.38 6.38 1.79 0.16 - - - -

ROA %

3.39 2.28 4.24 3.16 3.11 3.30 5.10 3.16 1.48 1.39 -0.17 -4.63 -10.20 -9.33 -17.72 -20.68 -21.89 -24.01 -19.63 -18.79 -18.81 -21.81 -17.06 -10.68 -5.36 5.58 5.87 6.26 6.31 6.28 5.96 5.71 5.63 5.39 5.25 5.04 4.75 4.88 4.64 4.05 4.22 3.48 2.95 2.63 2.30 2.92 3.69 4.52 3.42 1.53 1.00 0.59 1.33 2.84 2.16 0.61 0.06 - - - -

ROCE %

84.88 84.94 136.24 151.35 184.66 170.47 289.77 2019.47 1959.42 1899.11 1852.78 1689.49 -146.79 -136.02 -164.25 -141.82 -114.09 -81.46 -65.78 -53.77 -51.18 -80.02 -64.40 -44.65 -26.24 18.08 18.54 19.91 20.07 20.44 20.01 19.08 18.96 18.24 18.54 19.37 19.58 20.39 20.13 19.13 19.88 18.58 16.78 15.34 13.81 14.29 15.31 16.61 16.04 15.15 15.28 15.97 16.64 17.76 8.66 4.33 2.31 - - - -

Current Ratio

1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.1 1.1 1.1 1.2 1.2 1.3 1.3 1.3 1.3 1.3 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.7 1.7 1.7 1.7 1.5 1.5 1.5 1.5 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.6 1.6 1.6 1.6 1.5 1.5 1.5 1.5 - - - -

DSO

9.6 10.4 8.1 9.7 10.6 - 6.7 9.4 11.7 - 8.2 9.9 14.7 - 28.0 43.9 149.7 202.0 421.1 4608.2 576.3 196.0 288.1 110.9 3.5 4.6 3.6 4.1 4.2 3.6 2.7 3.3 3.5 3.2 2.4 3.0 4.2 5.1 3.9 4.9 4.6 4.0 3.2 3.8 3.8 3.8 3.3 3.9 3.5 2.8 2.1 2.6 2.9 2.7 2.0 2.4 1.3 - - - -

DIO

9.3 10.5 9.3 9.9 10.7 - 8.8 9.7 10.4 - 9.8 9.9 10.5 - 11.4 12.6 16.1 - 20.8 32.3 38.0 - 39.5 58.4 32.8 - 36.9 38.0 38.0 - 36.1 37.5 37.5 - 36.4 38.5 35.1 - 31.3 32.8 32.0 - 31.1 32.8 33.2 - 44.5 48.5 46.2 - 44.0 48.2 51.4 - 49.6 48.7 24.7 - - - -

DPO

12.0 12.5 10.6 10.4 11.7 - 10.5 12.2 12.5 - 9.4 11.6 15.4 - 8.9 8.2 20.2 - 21.3 37.1 39.9 - 39.9 58.9 34.0 - 39.0 40.1 53.2 - 63.9 66.4 46.3 - 23.6 25.0 21.7 - 18.0 18.8 21.5 - 27.5 28.9 44.4 - 80.2 87.5 86.9 - 87.3 95.6 102.2 - 99.0 97.1 49.2 - - - -

Operating Cycle

- - 17.3 19.6 21.2 - 15.4 19.1 22.1 - 18.1 19.8 25.2 - 39.4 56.5 165.8 202.0 441.9 4640.5 614.3 196.0 327.6 169.3 36.3 4.6 40.5 42.1 42.2 3.6 38.9 40.8 41.0 3.2 38.8 41.5 39.4 5.1 35.2 37.6 36.6 4.0 34.3 36.6 37.0 3.8 47.8 52.4 49.7 2.8 46.1 50.8 54.3 2.7 51.7 51.0 26.0 - - - -

Cash Conversion Cycle

- - 6.7 9.3 9.6 - 4.9 7.0 9.6 - 8.7 8.2 9.8 - 30.5 48.4 145.7 202.0 420.6 4603.4 574.3 196.0 287.7 110.4 2.4 4.6 1.5 2.0 -11.0 3.6 -25.1 -25.5 -5.3 3.2 15.1 16.4 17.7 5.1 17.2 18.8 15.1 4.0 6.8 7.6 -7.4 3.8 -32.5 -35.1 -37.3 2.8 -41.2 -44.9 -48.0 2.7 -47.3 -46.0 -23.2 - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company Norwegian Cruise Line Holdings Ltd., allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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