Norwegian Cruise Line Holdings Ltd. (NCLH) AI Stock Analysis

Norwegian Cruise Line Holdings Ltd., founded in 1966 and headquartered in Miami, Florida, operates as a prominent global cruise company serving markets across North America, Europe, Asia-Pacific, and beyond. The company operates through three well-known brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. These brands offer itineraries ranging from three-day voyages to 180-day journeys, visiting destinations such as the Mediterranean, Alaska, Hawaii, and the Caribbean. As of December 31, 2021, its fleet comprised 28 ships and approximately 59,150 berths. The company markets cruises through retail and travel advisor networks, onboard sales, and charters.

Revenue expanded from $648.0M in FY2021 to $4.84B in FY2022, $8.55B in FY2023, $9.48B in FY2024, and $9.83B in FY2025, producing a 5-year revenue CAGR of 50.3%. Operating margin improved from -393.9% in FY2021 to 10.9% in FY2023, 15.5% in FY2024, and 16.2% in FY2025. Net income transitioned from -$4.51B in FY2021 to $910.3M in FY2024 before dropping to $423.2M in FY2025. For the trailing twelve months ended June 30, 2026, revenue reached $10.15B with a net profit margin of 7.5%. In the latest quarter, quarterly revenue grew 4.9% year-over-year while quarterly earnings surged 616.3%.

As of June 30, 2026, the company held $218.1M in cash and short-term investments against total debt of $15.03B, resulting in net debt of $14.82B. Shareholders' equity was $2.57B, yielding a debt-to-equity ratio of 5.84, while the current ratio stood at 0.20. Total assets reached $24.01B. In FY2025, operating cash flow generated $2.09B, but capital expenditures of $3.26B pushed free cash flow to -$1.17B. Cash use also included $23.8M in share buybacks.

NCLH trades at a trailing P/E of 9.3x and a forward P/E of 8.5x, below the median of its S&P 500 Consumer Cyclical peers of 20.1x and 15.7x, respectively. Its enterprise value of $21.33B reflects an EV/EBITDA of 7.5x, compared to the peer median of 13.8x, and a price-to-sales of 0.7x versus the peer median of 2.0x. Over the past year, NCLH shares fell 34.1% and are down 43.3% over five years, underperforming the S&P 500 (SPY), which gained 16.8% over one year and 83.0% over five years.

Wall Street coverage consists of 9 Strong Buy, 1 Buy, and 17 Hold ratings, with 0 Sell or Strong Sell recommendations. The mean price target is $19.44, representing a 29.2% upside from the last close of $15.05. For FY2026, consensus estimates project revenue of $10.06B and EPS of $1.55, reflecting a 26.6% EPS decline. For FY2027, 26 analysts project revenue to grow 5.3% to $10.59B. The company beat EPS estimates in all 4 of the last 4 quarters, with next earnings scheduled for November 3, 2026.

This page is an AI-written research summary of Norwegian Cruise Line Holdings Ltd. (NCLH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: NCLH income statement, NCLH balance sheet, NCLH key metrics, NCLH analyst forecast, NCLH chart. See the NCLH stock overview for the latest quote and news.