Norwegian Cruise Line Holdings Ltd.
NCLH Consumer Cyclical Travel Services
Norwegian Cruise Line Holdings Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $9.8 billion, up 3.67% from fiscal 2024. In the quarter to June 2026, revenue grew 4.89%, EPS grew 585.7%, free cash flow fell 62.0% and total debt rose 9.24%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years, operating cash flow growth for five; insiders bought in the last twelve months.
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Norwegian Cruise Line Holdings Ltd. (NCLH) Debt to equity
Norwegian Cruise Line Holdings Ltd.'s debt to equity at the end of the quarter to 30 June 2026 was 5.8×, down 0.8× from fiscal 2025 (6.6×). Over the past ten years it has ranged from 1.0× (fiscal 2019) to 199× (fiscal 2022); the current reading is higher than 73% of that period. That is above the Travel Services industry median of 0.2× and above the Consumer Cyclical sector median of 0.2×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 6.6× | (28.08%) |
| FY2024 | 9.2× | (80.34%) |
| FY2023 | 46.7× | (76.47%) |
| FY2022 | 199× | 3,781.38% |
| FY2021 | 5.1× | 88.70% |
| FY2020 | 2.7× | 159.75% |
| FY2019 | 1.0× | (4.11%) |
| FY2018 | 1.1× | (0.76%) |
| FY2017 | 1.1× | (22.20%) |
| FY2016 | 1.4× | (16.67%) |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Jun 2026 | 5.8× | (6.25%) |
| Mar 2026 | 6.2× | (5.70%) |
| Dec 2025 | 6.6× | (0.18%) |
| Sep 2025 | 6.6× | (24.49%) |
| 42 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| MMYT MakeMyTrip Limited compare | −24.2× |
| LIND Lindblad Expeditions compare | −5.6× |
| TNL Travel + Leisure Co. compare | −5.6× |
| TCOM Trip.com Group Limited Sponsored ADR compare | 0.2× |
| PRSU Pursuit Attractions and Hospitality, Inc. compare | 0.4× |
| CCL Carnival Corporation compare | 1.7× |
| EXPE Expedia Group, Inc. compare | 2.2× |
| VIK Viking Holdings Ltd. compare | 3.7× |
| NCLH Norwegian Cruise Line Holdings Ltd. | 5.8× |
| Travel Services industry median | 0.2× |
| Consumer Cyclical sector median | 0.2× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
More on NCLH
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
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