NCLH · Norwegian Cruise Line Holdings Ltd. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - |
| Cost of Revenue | $5.64B | $5.69B | $5.47B | $4.27B | $1.69B | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $1.55B | $1.43B | $1.34B | $1.38B | $891.45M | $745.35M |
| Total Operating Expenses | $2.63B | $2.33B | $2.15B | $2.13B | $1.59B | $3.07B |
| D&A | $1.16B | $973.51M | $883.24M | $810.05M | $758.60M | $739.62M |
| Operating Income | $1.56B | $1.47B | $930.91M | ($1.55B) | ($2.55B) | ($3.48B) |
| Interest Expense | - | - | $727.50M | $800.00M | $2.10B | $93.20M |
| Income Tax | $5.47M | ($137.35M) | ($3.00M) | ($6.79M) | $5.27M | $12.47M |
| Net Income | $423.25M | $910.26M | $166.18M | ($2.27B) | ($4.51B) | ($4.01B) |
| EPS - Basic | $0.94 | $2.09 | $0.39 | ($5.41) | ($12.33) | ($15.75) |
| EPS - Diluted | $0.92 | $1.89 | $0.39 | ($5.41) | ($12.33) | ($15.75) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $209.89M | $190.76M | $402.42M | $946.99M | $1.51B | $3.30B |
| Accounts Receivable | $291.66M | $221.41M | $280.27M | $326.27M | $1.17B | $20.58M |
| Inventory | $138.18M | $149.72M | $157.65M | $148.72M | $118.20M | $82.38M |
| Accounts Payable | $169.66M | $171.11M | $174.34M | $228.74M | $233.17M | $83.14M |
| Current Assets | $1.14B | $1.01B | $1.31B | $1.87B | $3.30B | $3.56B |
| Total Assets | $22.54B | $19.97B | $19.49B | $18.56B | $18.73B | $18.40B |
| Current Liabilities | $5.45B | $5.78B | $6.04B | $5.05B | $3.73B | $1.91B |
| Long-term Debt | - | - | - | - | - | $1.55B |
| Total Liabilities | $20.33B | $18.54B | $19.19B | $18.49B | $16.30B | $14.05B |
| Stockholders' Equity | $2.21B | $1.43B | $300.81M | $68.59M | $2.43B | $4.35B |
| Retained Earnings | ($5.57B) | ($5.99B) | ($6.90B) | ($7.07B) | ($4.80B) | ($295.45M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.09B | $2.05B | $2.01B | $210.02M | ($2.47B) | ($2.56B) |
| Investing Cash Flow | ($3.26B) | ($1.23B) | ($2.90B) | ($1.76B) | ($1.00B) | ($975.36M) |
| Financing Cash Flow | $1.19B | ($1.03B) | $346.86M | $986.22M | $1.68B | $6.58B |
| CapEx | $3.26B | $1.21B | $2.75B | $1.78B | $752.84M | $946.54M |
| Free Cash Flow | ($1.17B) | $838.87M | ($744.65M) | ($1.57B) | ($3.22B) | ($3.50B) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | -2.76 | 0.92 | -4.48 | 0.69 | 0.71 | 0.87 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 1.3% | -17.8% | -1.8% | - | - | - |
| Return on assets | 1.9% | 4.6% | 0.9% | -12.2% | -24.1% | -21.8% |
| Return on equity | 19.2% | 63.9% | 55.2% | -3309.3% | -185.3% | -92.2% |
| Return on invested capital | - | - | - | - | - | -46.6% |
| Liquidity | ||||||
| Current ratio | 0.21 | 0.17 | 0.22 | 0.37 | 0.89 | 1.86 |
| Quick ratio | 0.18 | 0.15 | 0.19 | 0.34 | 0.85 | 1.82 |
| Cash ratio | 0.04 | 0.03 | 0.07 | 0.19 | 0.40 | 1.72 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | 0.36 |
| Debt / Assets | - | - | - | - | - | 0.08 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | 1.3x | -1.9x | -1.2x | -37.4x |
| Equity multiplier | 10.20 | 14.01 | 64.80 | 270.56 | 7.70 | 4.23 |
| Liabilities / Assets | 0.90 | 0.93 | 0.98 | 1.00 | 0.87 | 0.76 |
| Efficiency | ||||||
| Asset turnover | - | - | - | - | - | - |
| Inventory turnover | 40.81 | 38.00 | 34.69 | 28.69 | 14.32 | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 9d | 10d | 11d | 13d | 25d | - |
| Days payable outstanding | 11d | 11d | 12d | 20d | 50d | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 24.3x | 13.6x | 51.4x | - | - | - |
| P / B | 4.8x | 9.3x | 28.5x | 74.9x | 3.1x | 1.5x |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | 3.8x | 5.4x | 4.5x | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 6.5% | 57.5% | - | 39.2% | 26.7% | - |
| Net income growth (YoY) | -53.5% | 447.8% | - | 49.6% | -12.3% | - |
| EPS growth (YoY) | -51.3% | 384.6% | - | 56.1% | 21.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | -15.2% | -38.0% | - | - | - |
| FCF growth (YoY) | - | - | 52.7% | 51.1% | 8.0% | - |
| FCF CAGR (5y) | - | 35.2% | - | - | - | - |
| Book value growth (YoY) | 55.0% | 373.9% | 338.6% | -97.2% | -44.1% | -33.2% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- -Asset turnover improved
Peer comparison
Same SIC group: Water Transportation
Comparing Norwegian Cruise Line Holdings Ltd. against the 5 most active filers in the same SIC group.