What is Norwegian Cruise Line's operating income?

Norwegian Cruise Line's total operating income in 2025 was $1.56 billion, based on the following breakdown: Total Gross Profit: $4.19 billion Total Operating Expenses: $2.63 billion

Norwegian Cruise Line (NCLH) Financials

$19.00 -0.55 (-2.81%)

Closing price 03:59 PM Eastern

Extended Trading

$19.02 +0.02 (+0.11%)

As of 05:13 PM Eastern

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Annual Income Statements for Norwegian Cruise Line

This table shows Norwegian Cruise Line's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	427	633	760	955	930	-4,013	-4,507	-2,270	166	910	423
Consolidated Net Income / (Loss)	427	633	760	955	930	-4,013	-4,507	-2,270	166	910	423
Net Income / (Loss) Continuing Operations	427	633	760	955	930	-4,013	-4,507	-2,270	166	910	423
Total Pre-Tax Income	434	640	771	969	911	-4,000	-4,501	-2,277	163	773	429
Total Operating Income	702	925	1,049	1,219	1,178	-3,484	-2,552	-1,552	931	1,466	1,561
Total Gross Profit	1,690	2,024	2,333	2,678	2,799	-413	-960	577	3,081	3,791	4,188
Total Revenue	4,345	4,874	5,396	6,055	6,462	1,280	648	4,844	8,550	9,480	9,828
Operating Revenue	4,345	4,874	5,396	6,055	6,462	1,280	648	4,844	8,550	9,480	9,828
Total Cost of Revenue	2,655	2,850	3,064	3,377	3,663	1,693	1,608	4,267	5,469	5,689	5,639
Operating Cost of Revenue	2,243	2,850	3,064	3,377	3,663	1,693	1,608	4,267	5,469	5,689	5,639
Total Operating Expenses	987	1,099	1,284	1,459	1,621	3,071	1,592	2,128	2,150	2,325	2,628
Selling, General & Admin Expense	555	666	774	898	975	745	891	1,379	1,342	1,435	1,549
Depreciation Expense	432	432	510	561	646	718	701	749	809	890	1,079
Total Other Income / (Expense), net	-269	-285	-278	-250	-267	-516	-1,949	-725	-768	-693	-1,132
Interest Expense	222	277	268	270	273	482	2,073	802	728	747	954
Other Income / (Expense), net	-47	-8.30	-10	21	6.16	-34	124	77	-40	54	-179
Income Tax Expense	6.77	7.22	11	14	-19	12	5.27	-6.79	-3.00	-137	5.48
Basic Earnings per Share	$1.89	$2.79	$3.33	$4.28	$4.33	($15.75)	($12.33)	($5.41)	$0.39	$2.09	$0.94
Weighted Average Basic Shares Outstanding	226.59M	227.12M	228.04M	223.00M	214.93M	254.73M	365.45M	419.77M	424.42M	435.28M	448.54M
Diluted Earnings per Share	$1.86	$2.78	$3.31	$4.25	$4.30	($15.75)	($12.33)	($5.41)	$0.39	$1.89	$0.92
Weighted Average Diluted Shares Outstanding	230.04M	227.85M	229.42M	224.42M	216.48M	254.73M	365.45M	419.77M	427.40M	515.03M	477.74M
Weighted Average Basic & Diluted Shares Outstanding	226M	227.32M	228.20M	217.73M	213.20M	315.74M	417.09M	421.93M	425.66M	439.94M	455.55M

This table shows Norwegian Cruise Line's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-106	17	163	475	255	-40	30	419	14	105	223
Consolidated Net Income / (Loss)	-106	17	163	475	255	-40	30	419	14	105	223
Net Income / (Loss) Continuing Operations	-106	17	163	475	255	-40	30	419	14	105	223
Total Pre-Tax Income	-108	18	165	482	108	-41	31	434	5.89	108	226
Total Operating Income	124	218	342	691	215	201	424	749	187	233	363
Total Gross Profit	665	804	918	1,268	802	824	1,061	1,383	921	953	1,054
Total Revenue	1,986	2,191	2,372	2,807	2,109	2,128	2,517	2,938	2,244	2,331	2,641
Operating Revenue	1,986	2,191	2,372	2,807	2,109	2,128	2,517	2,938	2,244	2,331	2,641
Total Cost of Revenue	1,322	1,387	1,455	1,539	1,308	1,304	1,457	1,555	1,324	1,378	1,587
Operating Cost of Revenue	1,322	1,387	1,455	1,539	1,308	1,304	1,457	1,555	1,324	1,378	1,587
Total Operating Expenses	540	585	576	576	587	623	637	634	734	720	690
Selling, General & Admin Expense	328	362	354	358	361	391	393	383	381	460	419
Depreciation Expense	212	223	222	218	226	231	244	251	353	261	271
Total Other Income / (Expense), net	-233	-200	-177	-209	-107	-242	-393	-316	-181	-125	-137
Interest Expense	197	218	178	175	175	218	237	329	170	166	171
Other Income / (Expense), net	-35	18	1.90	-34	68	-25	-156	13	-11	41	34
Income Tax Expense	-1.83	1.00	1.55	6.92	-147	-1.14	0.64	14	-8.36	2.99	3.40
Basic Earnings per Share	($0.24)	$0.04	$0.38	$1.08	$0.59	($0.09)	$0.07	$0.93	$0.03	$0.23	$0.48
Weighted Average Basic Shares Outstanding	424.42M	426.80M	434.81M	439.70M	435.28M	441.15M	446.59M	451.00M	448.54M	456.65M	459.13M
Diluted Earnings per Share	($0.14)	$0.04	$0.35	$0.95	$0.55	($0.09)	$0.07	$0.86	$0.08	$0.23	$0.48
Weighted Average Diluted Shares Outstanding	427.40M	431.02M	513.59M	514.88M	515.03M	441.15M	448.03M	495.73M	477.74M	466.15M	463.93M
Weighted Average Basic & Diluted Shares Outstanding	425.66M	429.04M	439.69M	439.71M	439.94M	446.81M	451.94M	455.26M	455.55M	459.11M	459.19M

This table details how cash moves in and out of Norwegian Cruise Line's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	31	12	48	-12	89	3,048	-1,794	-560	-545	-212	19
Net Cash From Operating Activities	1,042	1,264	1,601	2,075	1,823	-2,556	-2,468	210	2,006	2,050	2,090
Net Cash From Continuing Operating Activities	1,042	1,264	1,601	2,075	1,823	-2,556	-2,468	210	2,006	2,055	2,090
Net Income / (Loss) Continuing Operations	427	633	760	955	930	-4,013	-4,507	-2,270	166	910	423
Consolidated Net Income / (Loss)	427	633	760	955	930	-4,013	-4,507	-2,270	166	910	423
Depreciation Expense	450	446	521	567	647	740	759	810	883	974	1,162
Non-Cash Adjustments To Reconcile Net Income	6.26	108	112	122	106	1,788	1,524	303	133	101	497
Changes in Operating Assets and Liabilities, net	158	77	208	431	139	-1,071	-244	1,367	823	69	7.20
Net Cash From Investing Activities	-1,206	-1,129	-1,405	-1,503	-1,680	-975	-1,004	-1,756	-2,897	-1,229	-3,265
Net Cash From Continuing Investing Activities	-1,206	-1,129	-1,405	-1,503	-1,680	-975	-1,004	-1,756	-2,897	-1,229	-3,265
Purchase of Property, Plant & Equipment	-1,122	-1,092	-1,372	-1,567	-1,637	-947	-753	-1,784	-2,750	-1,211	-3,260
Acquisitions	-0.75	-	-	-	-	-	-	0.00	0.00	-27	0.00
Purchase of Investments	-86	-37	-36	-1.72	-47	-32	-1,033	-224	-163	-1.79	-1.88
Other Investing Activities, net	0.00	0.00	0.66	1.01	4.06	2.70	12	12	16	11	-3.20
Net Cash From Financing Activities	195	-123	-149	-585	-53	6,579	1,678	986	347	-1,032	1,194
Net Cash From Continuing Financing Activities	195	-123	-149	-585	-53	6,579	1,678	986	347	-1,032	1,194
Repayment of Debt	-1,586	-3,817	-1,989	-1,840	-3,837	-1,028	-3,575	-2,001	-3,955	-2,305	-8,665
Issuance of Debt	1,856	3,754	1,816	1,905	4,122	6,075	2,601	3,003	4,323	1,299	9,738
Issuance of Common Equity	70	9.17	30	29	32	1,547	2,669	5.27	5.31	0.00	145
Other Financing Activities, net	0.00	0.00	-6.34	-14	-21	-15	-17	-21	-27	-25	-24

This table details how cash moves in and out of Norwegian Cruise Line's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-279	157	34	-262	-142	-6.41	-0.34	-17	43	-25	33
Net Cash From Operating Activities	259	807	671	173	399	679	715	237	459	811	603
Net Cash From Continuing Operating Activities	259	807	671	173	399	679	715	237	459	810	604
Net Income / (Loss) Continuing Operations	-106	17	163	475	255	-40	30	419	14	105	223
Consolidated Net Income / (Loss)	-106	17	163	475	255	-40	30	419	14	105	223
Depreciation Expense	233	245	243	239	247	251	264	273	374	281	294
Non-Cash Adjustments To Reconcile Net Income	37	43	21	37	-3.91	87	218	166	27	-14	3.67
Changes in Operating Assets and Liabilities, net	95	502	243	-578	-98	382	203	-621	43	438	84
Net Cash From Investing Activities	-691	-255	-366	-365	-244	-1,532	-336	-963	-433	-1,440	-459
Net Cash From Continuing Investing Activities	-691	-255	-366	-365	-244	-1,532	-336	-963	-433	-1,440	-459
Purchase of Property, Plant & Equipment	-648	-259	-341	-368	-243	-1,525	-334	-963	-438	-1,437	-458
Other Investing Activities, net	1.48	3.61	2.35	3.21	1.51	-7.02	-2.18	0.71	5.29	-3.16	-1.07
Net Cash From Financing Activities	152	-395	-271	-69	-297	847	-379	710	17	604	-111
Net Cash From Continuing Financing Activities	152	-395	-271	-69	-297	847	-379	710	17	604	-111
Repayment of Debt	-1,180	-465	-440	-496	-904	-2,809	-1,217	-4,144	-495	-627	-606
Issuance of Debt	1,334	92	169	427	610	3,679	774	4,773	512	1,261	495
Other Financing Activities, net	-1.59	-22	-0.01	-0.02	-3.28	-24	-	-0.02	-0.00	-30	-0.07

This table presents Norwegian Cruise Line's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	12,265	12,974	14,095	15,206	16,685	18,399	18,730	18,558	19,493	19,970	22,541
Total Current Assets	340	411	518	550	730	3,558	3,302	1,873	1,313	1,010	1,139
Cash & Equivalents	116	128	176	164	253	3,300	1,507	947	402	191	210
Accounts Receivable	45	63	44	55	75	21	1,167	326	280	221	292
Inventories, net	58	66	82	90	95	82	118	149	158	150	138
Prepaid Expenses	121	153	216	241	307	154	269	451	473	448	499
Plant, Property, & Equipment, net	9,459	10,118	11,040	12,119	13,135	13,411	13,529	14,516	16,433	16,811	19,069
Total Noncurrent Assets	2,466	2,445	2,536	2,536	2,819	1,431	1,899	2,168	1,747	2,149	2,334
Goodwill	1,389	1,389	1,389	1,389	1,389	98	98	98	98	136	136
Intangible Assets	818	818	818	818	818	501	501	501	501	501	501
Other Noncurrent Operating Assets	259	239	330	330	613	832	1,301	1,570	1,148	1,513	1,698
Total Liabilities & Shareholders' Equity	12,265	12,974	14,095	15,206	16,685	18,399	18,730	18,558	19,493	19,970	22,541
Total Liabilities	8,484	8,436	8,345	9,243	10,169	14,045	16,297	18,489	19,192	18,544	20,332
Total Current Liabilities	2,367	2,313	2,490	3,151	3,584	1,914	3,730	5,055	6,039	5,781	5,453
Short-Term Debt	630	560	619	681	746	125	877	991	1,745	1,324	876
Accounts Payable	45	38	53	160	101	83	233	229	174	171	170
Accrued Expenses	646	542	514	716	782	596	1,059	1,318	1,059	1,180	1,206
Current Deferred Revenue	1,024	1,173	1,303	1,593	1,955	1,110	1,561	2,517	3,061	3,106	3,201
Total Noncurrent Liabilities	6,117	6,123	5,855	6,092	6,585	12,131	12,567	13,434	13,153	12,764	14,879
Long-Term Debt	5,768	5,838	5,688	5,811	6,055	11,681	11,570	12,630	12,314	11,777	13,730
Other Noncurrent Operating Liabilities	350	285	167	282	529	450	997	804	839	987	1,149
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,781	4,538	5,750	5,963	6,516	4,354	2,433	69	301	1,425	2,210
Total Preferred & Common Equity	3,781	4,538	5,750	5,963	6,516	4,354	2,433	69	301	1,425	2,210
Total Common Equity	3,781	4,538	5,750	5,963	6,516	4,354	2,433	69	301	1,425	2,210
Common Stock	3,815	3,890	3,999	4,130	4,236	4,890	7,514	7,612	7,709	7,922	8,228
Retained Earnings	568	1,201	1,963	2,899	3,829	-295	-4,796	-7,066	-6,900	-5,990	-5,567
Accumulated Other Comprehensive Income / (Loss)	-413	-314	27	-162	-295	-240	-285	-477	-508	-507	-451

This table presents Norwegian Cruise Line's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	19,252	19,493	19,825	20,114	19,786	19,970	21,354	21,596	22,213	23,795	24,012
Total Current Assets	1,611	1,313	1,590	1,582	1,179	1,010	1,145	1,173	1,041	1,308	1,266
Cash & Equivalents	682	402	560	594	333	191	184	184	167	185	218
Accounts Receivable	239	280	282	209	201	221	271	266	253	277	277
Inventories, net	166	158	158	150	145	150	156	161	156	163	161
Prepaid Expenses	524	473	590	629	501	448	535	562	466	683	610
Plant, Property, & Equipment, net	15,974	16,433	16,464	16,633	16,744	16,811	18,113	18,248	18,940	20,189	20,438
Total Noncurrent Assets	1,666	1,747	1,772	1,899	1,863	2,149	2,096	2,176	2,232	2,298	2,308
Goodwill	98	98	98	136	136	136	136	136	136	136	136
Intangible Assets	501	501	501	501	501	501	501	501	501	501	501
Other Noncurrent Operating Assets	1,068	1,148	1,173	1,262	1,227	1,513	1,460	1,539	1,596	1,662	1,672
Total Liabilities & Shareholders' Equity	19,252	19,493	19,825	20,114	19,786	19,970	21,354	21,596	22,213	23,795	24,012
Total Liabilities	18,813	19,192	19,463	19,421	18,651	18,544	19,938	20,026	20,020	21,363	21,439
Total Current Liabilities	5,402	6,039	6,599	6,634	6,039	5,781	6,094	6,388	5,349	6,217	6,321
Short-Term Debt	1,240	1,745	1,744	1,525	1,653	1,324	1,122	1,130	876	1,175	1,141
Accounts Payable	158	174	205	182	173	171	162	169	193	185	233
Accrued Expenses	1,039	1,059	1,020	1,147	1,068	1,180	1,049	1,255	1,132	1,138	1,295
Current Deferred Revenue	2,965	3,061	3,630	3,779	3,145	3,106	3,762	3,834	3,147	3,719	3,651
Total Noncurrent Liabilities	13,411	13,153	12,865	12,787	12,612	12,764	13,843	13,638	14,671	15,146	15,118
Long-Term Debt	12,635	12,314	12,005	11,913	11,752	11,777	12,872	12,633	13,645	13,979	13,893
Other Noncurrent Operating Liabilities	776	839	859	874	860	987	971	1,005	1,026	1,167	1,225
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	439	301	362	693	1,135	1,425	1,417	1,570	2,193	2,431	2,573
Total Preferred & Common Equity	439	301	362	693	1,135	1,425	1,417	1,570	2,193	2,431	2,573
Total Common Equity	439	301	362	693	1,135	1,425	1,417	1,570	2,193	2,431	2,573
Common Stock	7,688	7,709	7,709	7,879	7,899	7,922	7,919	8,009	8,204	8,221	8,244
Retained Earnings	-6,794	-6,900	-6,883	-6,719	-6,244	-5,990	-6,030	-6,000	-5,581	-5,462	-5,239
Accumulated Other Comprehensive Income / (Loss)	-456	-508	-464	-466	-520	-507	-472	-439	-430	-328	-432

This table displays calculated financial ratios and metrics derived from Norwegian Cruise Line's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	455,257,489.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	455,257,489.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.93
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	692	915	1,034	1,201	1,202	-2,439	-1,787	-1,086	948	1,726	1,541
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-7.93%	6.60%	11.89%	9.16%
Earnings before Interest and Taxes (EBIT)	656	917	1,038	1,240	1,184	-3,518	-2,428	-1,475	891	1,520	1,382
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,106	1,363	1,560	1,807	1,831	-2,778	-1,670	-665	1,774	2,494	2,544
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	143	169	-39	791	429	-2,234	-2,059	-697	-266	1,349	-730
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,062	10,808	11,881	12,291	13,064	12,860	13,133	12,743	13,957	14,335	16,606
Increase / (Decrease) in Invested Capital	548	746	1,073	410	773	-205	273	-389	1,214	378	2,271
Book Value per Share	$16.48	$19.97	$25.17	$26.90	$30.62	$15.80	$6.57	$0.16	$0.71	$3.24	$4.85
Tangible Book Value per Share	$6.86	$10.26	$15.51	$16.95	$20.25	$13.62	$4.96	($1.26)	($0.70)	$1.79	$3.46
Total Capital	10,178	10,936	12,058	12,455	13,317	16,160	14,879	13,690	14,360	14,526	16,816
Total Debt	6,398	6,399	6,308	6,492	6,802	11,806	12,447	13,622	14,059	13,100	14,606
Total Long-Term Debt	5,768	5,838	5,688	5,811	6,055	11,681	11,570	12,630	12,314	11,777	13,730
Net Debt	6,282	6,270	6,132	6,328	6,549	8,506	10,700	12,675	13,657	12,910	14,396
Capital Expenditures (CapEx)	1,122	1,092	1,372	1,567	1,637	947	753	1,784	2,750	1,211	3,260
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,512	-1,470	-1,529	-2,083	-2,361	-1,532	-1,299	-3,138	-3,383	-3,638	-3,648
Debt-free Net Working Capital (DFNWC)	-1,396	-1,342	-1,352	-1,919	-2,108	1,769	448	-2,191	-2,981	-3,447	-3,438
Net Working Capital (NWC)	-2,026	-1,902	-1,972	-2,600	-2,854	1,644	-429	-3,182	-4,726	-4,771	-4,314
Net Nonoperating Expense (NNE)	264	282	274	246	272	1,574	2,720	1,184	782	816	1,118
Net Nonoperating Obligations (NNO)	6,282	6,270	6,132	6,328	6,549	8,506	10,700	12,675	13,657	12,910	14,396
Total Depreciation and Amortization (D&A)	450	446	521	567	647	740	759	810	883	974	1,162
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.89	$2.79	$3.33	$4.28	$4.33	($15.75)	($12.33)	($5.41)	$0.39	$2.09	$0.94
Adjusted Weighted Average Basic Shares Outstanding	226.59M	227.12M	228.04M	223.00M	214.93M	254.73M	365.45M	419.77M	424.42M	435.28M	448.54M
Adjusted Diluted Earnings per Share	$1.86	$2.78	$3.31	$4.25	$4.30	($15.75)	($12.33)	($5.41)	$0.39	$1.89	$0.92
Adjusted Weighted Average Diluted Shares Outstanding	230.04M	227.85M	229.42M	224.42M	216.48M	254.73M	365.45M	419.77M	427.40M	515.03M	477.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	227.31M	227.32M	228.66M	217.73M	213.20M	315.74M	417.09M	421.93M	425.66M	439.94M	455.55M
Normalized Net Operating Profit after Tax (NOPAT)	692	915	1,034	1,201	825	-1,313	-1,787	-1,086	652	1,026	1,541
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Norwegian Cruise Line's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	455,257,489.00	455,545,641.00	459,110,140.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	455,257,489.00	455,545,641.00	459,110,140.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	0.03	0.23	0.48
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.76%	20.27%	7.57%	10.67%	6.19%	-2.91%	6.11%	4.69%	-	9.57%	4.89%
EBITDA Growth	464.87%	126.71%	22.39%	17.88%	64.33%	-11.35%	-9.30%	15.55%	-	29.99%	29.90%
EBIT Growth	129.20%	13,316.39%	29.85%	22.73%	217.84%	-25.41%	-22.14%	16.04%	-	55.10%	48.40%
NOPAT Growth	144.25%	2,652.15%	25.15%	33.31%	483.03%	-31.88%	22.66%	6.37%	-	61.00%	-13.77%
Net Income Growth	77.93%	110.89%	89.79%	37.32%	339.03%	-332.21%	-81.65%	-11.71%	-	359.75%	642.04%
EPS Growth	87.72%	110.53%	75.00%	33.80%	492.86%	-325.00%	-80.00%	-9.47%	-	355.56%	585.71%
Operating Cash Flow Growth	9.47%	60.37%	-35.07%	-17.89%	54.15%	-15.85%	6.55%	37.14%	-	19.47%	-15.70%
Free Cash Flow Firm Growth	-684.68%	-263.42%	-447.46%	6,718.43%	111.50%	-51.13%	-24.25%	-1,636.64%	-	-27.08%	-57.37%
Invested Capital Growth	9.53%	9.90%	10.63%	4.23%	2.71%	12.35%	11.90%	16.47%	-	14.29%	14.79%
Revenue Q/Q Growth	-21.67%	10.31%	8.27%	18.30%	-24.84%	0.86%	18.33%	16.71%	-	3.87%	13.27%
EBITDA Q/Q Growth	-57.59%	49.41%	21.75%	52.78%	-40.87%	-19.40%	24.56%	94.65%	-	0.86%	24.48%
EBIT Q/Q Growth	-83.36%	165.57%	45.21%	91.31%	-56.92%	-37.67%	51.56%	185.12%	-	55.55%	45.02%
NOPAT Q/Q Growth	-82.97%	137.25%	63.87%	101.35%	-25.52%	-72.28%	195.05%	74.61%	-	-49.85%	58.02%
Net Income Q/Q Growth	-130.79%	116.30%	841.83%	190.59%	-46.41%	-115.83%	174.43%	1,298.02%	-	634.29%	112.63%
EPS Q/Q Growth	-119.72%	128.57%	775.00%	171.43%	-42.11%	-116.36%	177.78%	1,128.57%	-	187.50%	108.70%
Operating Cash Flow Q/Q Growth	23.28%	211.65%	-16.88%	-74.29%	131.45%	70.12%	5.25%	-66.91%	-	76.74%	-25.74%
Free Cash Flow Firm Q/Q Growth	-70,877.04%	9.98%	5.11%	110.92%	23.28%	-1,283.50%	21.99%	-35.00%	-	-7.11%	3.39%
Invested Capital Q/Q Growth	2.39%	-2.91%	-0.10%	4.95%	0.89%	6.21%	-0.51%	9.23%	-	4.79%	-0.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.46%	36.68%	38.68%	45.17%	38.01%	38.71%	42.13%	47.08%	-	40.89%	39.91%
EBITDA Margin	16.23%	21.98%	24.72%	31.92%	25.11%	20.07%	21.13%	35.23%	-	23.81%	26.16%
Operating Margin	6.26%	9.97%	14.40%	24.63%	10.18%	9.44%	16.84%	25.51%	-	9.99%	13.76%
EBIT Margin	4.48%	10.79%	14.48%	23.41%	13.42%	8.29%	10.62%	25.95%	-	11.74%	15.03%
Profit (Net Income) Margin	-5.36%	0.79%	6.89%	16.92%	12.07%	-1.89%	1.19%	14.27%	-	4.49%	8.43%
Tax Burden Percent	98.31%	94.55%	99.06%	98.56%	236.29%	97.25%	97.92%	96.69%	-	97.22%	98.49%
Interest Burden Percent	-121.62%	7.76%	48.04%	73.33%	38.05%	-23.48%	11.45%	56.87%	-	39.34%	56.94%
Effective Tax Rate	0.00%	5.45%	0.94%	1.44%	-136.29%	0.00%	2.08%	3.31%	-	2.78%	1.51%
Return on Invested Capital (ROIC)	2.81%	6.49%	10.06%	16.32%	16.12%	4.33%	10.99%	15.55%	-	5.97%	8.46%
ROIC Less NNEP Spread (ROIC-NNEP)	1.34%	5.02%	8.66%	14.75%	14.22%	2.99%	8.07%	13.32%	-	5.13%	7.51%
Return on Net Nonoperating Assets (RNNOA)	95.23%	489.69%	306.43%	246.06%	218.78%	45.33%	94.30%	109.75%	-	38.35%	51.45%
Return on Equity (ROE)	98.04%	496.18%	316.48%	262.38%	234.90%	49.65%	105.29%	125.30%	-	44.32%	59.91%
Cash Return on Invested Capital (CROIC)	-1.99%	-0.84%	-0.92%	5.61%	9.53%	0.40%	2.03%	-2.29%	-	-3.73%	-4.50%
Operating Return on Assets (OROA)	2.01%	5.04%	6.79%	11.22%	6.45%	3.79%	4.87%	11.98%	-	5.22%	6.69%
Return on Assets (ROA)	-2.41%	0.37%	3.23%	8.11%	5.80%	-0.87%	0.55%	6.59%	-	2.00%	3.75%
Return on Common Equity (ROCE)	98.04%	496.18%	316.48%	262.38%	234.90%	49.65%	105.29%	125.30%	-	44.32%	59.91%
Return on Equity Simple (ROE_SIMPLE)	0.00%	94.69%	60.62%	48.38%	0.00%	60.19%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	87	206	338	681	507	141	415	725	452	226	358
NOPAT Margin	4.38%	9.42%	14.26%	24.27%	24.06%	6.61%	16.49%	24.66%	-	9.71%	13.55%
Net Nonoperating Expense Percent (NNEP)	1.47%	1.48%	1.40%	1.57%	1.90%	1.34%	2.91%	2.23%	-	0.85%	0.95%
Return On Investment Capital (ROIC_SIMPLE)	0.61%	-	-	-	3.49%	0.91%	2.71%	4.34%	2.69%	1.29%	2.03%
Cost of Revenue to Revenue	66.54%	63.32%	61.32%	54.83%	61.99%	61.29%	57.87%	52.92%	-	59.11%	60.09%
SG&A Expenses to Revenue	16.52%	16.54%	14.91%	12.76%	17.09%	18.40%	15.61%	13.04%	-	19.72%	15.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Operating Expenses to Revenue	27.20%	26.72%	24.29%	20.54%	27.83%	29.27%	25.30%	21.57%	-	30.90%	26.15%
Earnings before Interest and Taxes (EBIT)	89	237	343	657	283	176	267	762	176	274	397
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	322	482	586	896	530	427	532	1,035	550	555	691
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	28.34	24.59	11.63	7.94	7.94	5.89	5.77	5.08	-	3.50	3.77
Price to Tangible Book Value (P/TBV)	0.00	0.00	141.82	18.07	14.34	10.69	9.71	7.15	-	4.75	5.00
Price to Revenue (P/Rev)	1.00	1.00	0.89	0.96	1.19	0.89	0.95	1.15	-	0.85	0.95
Price to Earnings (P/E)	51.30	25.97	19.19	16.42	12.43	9.78	12.60	16.78	-	14.99	12.74
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Earnings Yield	1.95%	3.85%	5.21%	6.09%	8.05%	10.22%	7.94%	5.96%	-	6.67%	7.85%
Enterprise Value to Invested Capital (EV/IC)	1.59	1.63	1.54	1.55	1.69	1.45	1.49	1.54	-	1.35	1.41
Enterprise Value to Revenue (EV/Rev)	2.59	2.48	2.30	2.36	2.56	2.35	2.37	2.63	-	2.34	2.41
Enterprise Value to EBITDA (EV/EBITDA)	12.50	10.81	9.72	9.66	9.71	9.08	9.50	10.10	-	8.79	8.66
Enterprise Value to EBIT (EV/EBIT)	24.90	19.63	17.36	16.66	15.94	15.17	16.36	17.11	-	15.88	15.23
Enterprise Value to NOPAT (EV/NOPAT)	23.40	19.87	17.68	16.28	14.03	12.79	11.90	12.82	-	15.00	16.25
Enterprise Value to Operating Cash Flow (EV/OCF)	11.06	9.57	10.74	11.57	11.82	11.53	11.52	12.56	-	10.57	11.62
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	28.31	17.96	384.43	77.88	0.00	-	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	46.74	37.97	19.39	11.81	9.19	9.88	8.77	6.62	-	6.23	5.84
Long-Term Debt to Equity	40.94	33.16	17.19	10.35	8.26	9.09	8.05	6.22	-	5.75	5.40
Financial Leverage	71.28	97.58	35.39	16.69	15.39	15.18	11.68	8.24	-	7.48	6.85
Leverage Ratio	103.01	145.41	54.72	24.80	22.86	23.15	18.43	12.62	-	11.73	11.01
Compound Leverage Factor	-125.27	11.28	26.29	18.19	8.70	-5.44	2.11	7.18	-	4.62	6.27
Debt to Total Capital	97.91%	97.43%	95.10%	92.19%	90.19%	90.81%	89.76%	86.88%	-	86.17%	85.39%
Short-Term Debt to Total Capital	12.15%	12.36%	10.79%	11.37%	9.11%	7.28%	7.37%	5.24%	-	6.68%	6.48%
Long-Term Debt to Total Capital	85.75%	85.07%	84.30%	80.82%	81.07%	83.53%	82.39%	81.64%	-	79.49%	78.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Common Equity to Total Capital	2.09%	2.57%	4.90%	7.81%	9.81%	9.19%	10.24%	13.12%	-	13.83%	14.61%
Debt to EBITDA	7.93	6.73	6.25	5.86	5.25	5.74	5.77	5.75	-	5.67	5.31
Net Debt to EBITDA	7.70	6.46	5.97	5.72	5.18	5.66	5.70	5.69	-	5.60	5.23
Long-Term Debt to EBITDA	6.94	5.88	5.54	5.14	4.72	5.28	5.30	5.41	-	5.23	4.91
Debt to NOPAT	14.83	12.36	11.37	9.88	7.59	8.08	7.24	7.31	-	9.68	9.97
Net Debt to NOPAT	14.41	11.86	10.86	9.64	7.48	7.97	7.14	7.22	-	9.56	9.83
Long-Term Debt to NOPAT	12.99	10.80	10.08	8.66	6.82	7.43	6.64	6.87	-	8.92	9.21
Altman Z-Score	-0.07	-0.03	-0.01	0.14	0.18	0.05	0.08	0.30	-	0.13	0.19
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.22	0.24	0.24	0.20	0.17	0.19	0.18	0.19	-	0.21	0.20
Quick Ratio	0.11	0.13	0.12	0.09	0.07	0.07	0.07	0.08	-	0.07	0.08
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,127	-1,015	-963	105	130	-1,534	-1,196	-1,615	-1,819	-1,949	-1,883
Operating Cash Flow to CapEx	39.99%	311.83%	196.94%	46.87%	164.01%	44.53%	214.26%	24.56%	-	56.48%	131.66%
Free Cash Flow to Firm to Interest Expense	-5.71	-4.65	-5.39	0.60	0.74	-7.04	-5.05	-4.91	-	-11.74	-11.02
Operating Cash Flow to Interest Expense	1.31	3.70	3.76	0.98	2.28	3.12	3.02	0.72	-	4.89	3.53
Operating Cash Flow Less CapEx to Interest Expense	-1.97	2.51	1.85	-1.12	0.89	-3.88	1.61	-2.21	-	-3.77	0.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.45	0.47	0.47	0.48	0.48	0.46	0.46	0.46	-	0.44	0.45
Accounts Receivable Turnover	28.19	32.94	42.41	42.51	37.79	34.06	40.25	42.75	-	36.64	37.42
Inventory Turnover	35.70	36.70	37.18	36.66	37.02	35.75	36.12	37.42	-	35.88	36.31
Fixed Asset Turnover	0.55	0.58	0.57	0.57	0.57	0.54	0.55	0.54	-	0.52	0.53
Accounts Payable Turnover	27.13	27.32	34.14	34.42	32.94	30.57	31.88	30.70	-	32.98	29.04
Days Sales Outstanding (DSO)	12.95	11.08	8.61	8.59	9.66	10.72	9.07	8.54	-	9.96	9.75
Days Inventory Outstanding (DIO)	10.22	9.94	9.82	9.96	9.86	10.21	10.11	9.75	-	10.17	10.05
Days Payable Outstanding (DPO)	13.45	13.36	10.69	10.60	11.08	11.94	11.45	11.89	-	11.07	12.57
Cash Conversion Cycle (CCC)	9.72	7.67	7.73	7.94	8.44	8.98	7.72	6.40	-	9.07	7.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,957	13,552	13,538	14,208	14,335	15,226	15,149	16,548	16,606	17,401	17,390
Invested Capital Turnover	0.64	0.69	0.71	0.67	0.67	0.65	0.67	0.63	-	0.61	0.62
Increase / (Decrease) in Invested Capital	1,214	1,221	1,301	576	378	1,674	1,611	2,340	2,271	2,175	2,241
Enterprise Value (EV)	22,182	22,094	20,906	22,091	24,223	22,151	22,641	25,486	-	23,489	24,509
Market Capitalization	8,526	8,904	8,062	9,018	11,314	8,341	9,061	11,131	-	8,519	9,692
Book Value per Share	$0.71	$0.85	$1.62	$2.58	$3.24	$3.22	$3.51	$4.85	$4.85	$5.34	$5.60
Tangible Book Value per Share	($0.70)	($0.55)	$0.13	$1.14	$1.79	$1.77	$2.09	$3.44	$3.46	$3.94	$4.22
Total Capital	14,360	14,112	14,132	14,541	14,526	15,410	15,333	16,715	16,816	17,586	17,608
Total Debt	14,059	13,750	13,439	13,405	13,100	13,994	13,763	14,521	14,606	15,155	15,035
Total Long-Term Debt	12,314	12,005	11,913	11,752	11,777	12,872	12,633	13,645	13,730	13,979	13,893
Net Debt	13,657	13,190	12,844	13,073	12,910	13,809	13,579	14,355	14,396	14,970	14,817
Capital Expenditures (CapEx)	648	259	341	368	243	1,525	334	963	438	1,437	458
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,383	-3,824	-4,120	-3,538	-3,638	-4,011	-4,269	-3,598	-3,648	-3,919	-4,132
Debt-free Net Working Capital (DFNWC)	-2,981	-3,264	-3,526	-3,206	-3,447	-3,827	-4,085	-3,431	-3,438	-3,734	-3,914
Net Working Capital (NWC)	-4,726	-5,008	-5,052	-4,859	-4,771	-4,949	-5,215	-4,307	-4,314	-4,910	-5,055
Net Nonoperating Expense (NNE)	194	189	175	206	253	181	385	305	437	122	135
Net Nonoperating Obligations (NNO)	13,657	13,190	12,844	13,073	12,910	13,809	13,579	14,355	14,396	14,970	14,817
Total Depreciation and Amortization (D&A)	233	245	243	239	247	251	264	273	374	281	294
Debt-free, Cash-free Net Working Capital to Revenue	-39.57%	-42.87%	-45.35%	-37.82%	-38.37%	-42.60%	-44.65%	-37.12%	-	-39.07%	-40.69%
Debt-free Net Working Capital to Revenue	-34.86%	-36.60%	-38.81%	-34.26%	-36.36%	-40.64%	-42.73%	-35.40%	-	-37.22%	-38.54%
Net Working Capital to Revenue	-55.27%	-56.15%	-55.60%	-51.93%	-50.33%	-52.56%	-54.55%	-44.44%	-	-48.94%	-49.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.24)	$0.04	$0.38	$1.08	$0.59	($0.09)	$0.07	$0.93	$0.03	$0.23	$0.48
Adjusted Weighted Average Basic Shares Outstanding	424.42M	426.80M	434.81M	439.70M	435.28M	441.15M	446.59M	451.00M	448.54M	456.65M	459.13M
Adjusted Diluted Earnings per Share	($0.14)	$0.04	$0.35	$0.95	$0.55	($0.09)	$0.07	$0.86	$0.08	$0.23	$0.48
Adjusted Weighted Average Diluted Shares Outstanding	427.40M	431.02M	513.59M	514.88M	515.03M	441.15M	448.03M	495.73M	477.74M	466.15M	463.93M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	425.66M	429.04M	439.69M	439.71M	439.94M	446.81M	451.94M	455.26M	455.55M	459.11M	459.19M
Normalized Net Operating Profit after Tax (NOPAT)	87	206	338	681	150	141	415	725	131	226	358
Normalized NOPAT Margin	4.38%	9.42%	14.26%	24.27%	7.13%	6.61%	16.49%	24.66%	-	9.71%	13.55%
Pre Tax Income Margin	-5.45%	0.84%	6.95%	17.17%	5.11%	-1.95%	1.22%	14.76%	-	4.62%	8.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.45	1.08	1.92	3.75	1.61	0.81	1.13	2.32	-	1.65	2.32
NOPAT to Interest Expense	0.44	0.95	1.90	3.89	2.89	0.65	1.75	2.20	-	1.36	2.09
EBIT Less CapEx to Interest Expense	-2.83	-0.10	0.02	1.65	0.23	-6.19	-0.28	-0.61	-	-7.01	-0.36
NOPAT Less CapEx to Interest Expense	-2.84	-0.24	-0.01	1.79	1.51	-6.35	0.34	-0.73	-	-7.29	-0.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Norwegian Cruise Line Holdings showed a much healthier operating profile in Q1 2026 versus the same period last year, but the balance sheet still carries a heavy debt load and cash generation remains dependent on a highly seasonal business.

Revenue grew year over year. Q1 2026 revenue rose to $2.33 billion from $2.13 billion in Q1 2025, showing continued demand growth.
Profitability improved meaningfully. Net income climbed to $104.7 million in Q1 2026 from a loss of $40.3 million in Q1 2025, a clear turnaround.
Operating income expanded sharply. Operating income increased to $232.9 million from $200.9 million a year ago, indicating better core business performance.
Operating cash flow remained strong. The company generated $811.5 million in operating cash flow in Q1 2026, up from $679.2 million in Q1 2025.
Current liquidity improved. Cash and equivalents rose to $185.0 million at the end of Q1 2026, while total current assets increased to $1.31 billion.
Year-over-year balance sheet equity improved. Total common equity increased to $2.43 billion in Q1 2026 from $1.42 billion in Q1 2025.
Seasonality still matters. Cruise lines typically see stronger results later in the year, so Q1 is not usually the best indicator of full-year performance.
Capital spending remains significant. The company spent $1.44 billion on property, plant and equipment in Q1 2026, which is a large ongoing cash requirement.
Shares outstanding remain elevated. Weighted average diluted shares were 466.1 million in Q1 2026, reflecting some dilution pressure compared with a few years ago.
Debt levels are still high. Short-term debt was $1.18 billion and long-term debt was $14.0 billion at the end of Q1 2026, leaving the company leveraged.
Investing cash flow was deeply negative. Net cash used in investing activities was $1.44 billion, driven by heavy capex.
Cash declined modestly during the quarter. Net change in cash and equivalents was negative $24.8 million in Q1 2026.

Bottom line: Norwegian Cruise Line is showing solid top-line growth and a notable rebound in profitability, which is encouraging for investors. However, the company still operates with substantial leverage and high capital spending, so the investment case depends on continued strong demand and disciplined debt reduction over time.

08/14/26 05:18 PM ETAI Generated. May Contain Errors.

Norwegian Cruise Line Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Norwegian Cruise Line's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Norwegian Cruise Line's net income appears to be on an upward trend, with a most recent value of $423.25 million in 2025, falling from $427.14 million in 2015. The previous period was $910.26 million in 2024. Check out Norwegian Cruise Line's forecast to explore projected trends and price targets.

Norwegian Cruise Line's total operating income in 2025 was $1.56 billion, based on the following breakdown:

Total Gross Profit: $4.19 billion
Total Operating Expenses: $2.63 billion

Over the last 10 years, Norwegian Cruise Line's total revenue changed from $4.35 billion in 2015 to $9.83 billion in 2025, a change of 126.2%.

Norwegian Cruise Line's total liabilities were at $20.33 billion at the end of 2025, a 9.6% increase from 2024, and a 139.6% increase since 2015.

In the past 10 years, Norwegian Cruise Line's cash and equivalents has ranged from $115.94 million in 2015 to $3.30 billion in 2020, and is currently $209.89 million as of their latest financial filing in 2025.

Over the last 10 years, Norwegian Cruise Line's book value per share changed from 16.48 in 2015 to 4.85 in 2025, a change of -70.5%.

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Financial statements for NYSE:NCLH last updated on 8/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Norwegian Cruise Line (NCLH) Financials

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Norwegian Cruise Line (NCLH) Financials

Annual Income Statements for Norwegian Cruise Line

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Quarterly Cash Flow Statements for Norwegian Cruise Line

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Quarterly Balance Sheets for Norwegian Cruise Line

Annual Metrics And Ratios for Norwegian Cruise Line

Quarterly Metrics And Ratios for Norwegian Cruise Line

Financials Breakdown Chart

Key Financial Trends

Norwegian Cruise Line Financials - Frequently Asked Questions

When does Norwegian Cruise Line's financial year end?

How has Norwegian Cruise Line's net income changed over the last 10 years?

What is Norwegian Cruise Line's operating income?

How has Norwegian Cruise Line's revenue changed over the last 10 years?

How much debt does Norwegian Cruise Line have?

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How has Norwegian Cruise Line's book value per share changed over the last 10 years?

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