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Norwegian Cruise Line Holdings Ltd.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $6.9B | |
|---|---|---|
| Revenue (ttm) | 10.2B | |
| Net income (ttm) | 760.8M | |
| EPS (ttm) | $1.59 | |
| Shares out | 459.2M | |
| P/E (trailing) | 10.2x | |
| P/E (forward) | 8.5x | |
| Volume | 16,399,018 | |
| Beta | 1.96 |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $648.0M | $4.84B | $8.55B | $9.48B | $9.83B | +97.3% |
| Gross profit | $-960.1M | $576.7M | $3.08B | $3.79B | $3.14B | — |
| Operating income | $-2.55B | $-1.55B | $930.9M | $1.47B | $1.56B | — |
| Net income | $-4.51B | $-2.27B | $166.2M | $910.3M | $423.2M | — |
| EPS (diluted) | $-12.33 | $-5.41 | $0.39 | $1.89 | $0.92 | — |
| EBITDA | $-1.67B | $-665.1M | $1.77B | $2.49B | $3.82B | — |
| R&D | — | — | — | — | — | — |
| SG&A | $891.5M | $1.38B | $1.34B | $1.43B | $1.55B | +14.8% |
Recent company headlines from major financial publishers.
The base case represents the modal expectation where near-term yield headwinds in Europe are managed through cost discipline ($225M savings), and free cash flow inflects positively as newbuild capex declines. Deleveraging progresses methodically, supporting our Fair Value midpoint of $14.86.
Under favorable macroeconomic conditions, commercial initiatives at Norwegian brand rebuild top-of-funnel bookings, eliminating promotional discounting. Oceania and Regent brands maintain premium pricing power. Accelerated cash flow generation enables rapid debt extinguishment, lowering the equity risk premium and driving the valuation toward the upper band.
| Ke ↓ / g → | 1.5% | 1.8% | 2.0% | 2.3% | 2.5% |
|---|---|---|---|---|---|
| 10.6% | $15.7 | $15.9 | $16.1 | $16.3 | $16.5 |
| 11.1% | $15.1 | $15.3 | $15.5 | $15.6 | $15.8 |
| 11.6% | $14.6 | $14.7 | $14.9 | $15.0 | $15.2 |
| 12.1% | $14.1 | $14.2 | $14.3 | $14.5 | $14.6 |
| 12.6% | $13.6 | $13.7 | $13.8 | $14.0 | $14.1 |
Upcoming earnings date and setup when available.
The rating each month's published research edition carried. A rating compares the price at analysis with the Fair value; it is not a record of whether the call was right.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
