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Saturday 17 October 2026 Export NCLH’s income statement to Excel — free account

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.

15.05 0.34 −2.21%
Market cap
$7.1B
P/E
9.0×
Fwd P/E
12.6×
Dividend yield
—
F-score
5/9
Altman Z
0.38
Beneish M
−2.59
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Norwegian Cruise Line Holdings Ltd. (NCLH) Operating margin

Alert me on Operating margin

Norwegian Cruise Line Holdings Ltd.'s operating margin over the twelve months to 30 June 2026 was 15.1%, down 0.8 percentage points from fiscal 2025 (15.9%). Over the past ten years it has ranged from −393.9% (fiscal 2021) to 20.1% (fiscal 2018); the current reading is higher than 55% of that period. That is in line with the Travel Services industry median of 15.1% and above the Consumer Cyclical sector median of 3.57%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 15.9% 0.42
FY2024 15.5% 4.57
FY2023 10.9% 42.93
FY2022 −32.0% 361.85
FY2021 −393.9% (121.67)
FY2020 −272.2% (290.45)
FY2019 18.2% (1.90)
FY2018 20.1% 0.69
FY2017 19.4% 0.45
FY2016 19.0% 2.82

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 13.8% 3.77
Mar 2026 9.99% 1.67
Dec 2025 8.32% (17.19)
Sep 2025 25.5% 8.67
42 more quarters

Against its own ten years

Low −393.9% High 20.1%
Ten-year median 15.9%
Current reading's percentile 48

Operating margin against peers

Company Operating margin
VIK Viking Holdings Ltd. compare 23.3%
PRSU Pursuit Attractions and Hospitality, Inc. compare 17.5%
TCOM Trip.com Group Limited Sponsored ADR compare 16.1%
CCL Carnival Corporation compare 16.0%
EXPE Expedia Group, Inc. compare 16.0%
NCLH Norwegian Cruise Line Holdings Ltd. 15.1%
MMYT MakeMyTrip Limited compare 15.0%
TNL Travel + Leisure Co. compare 13.7%
LIND Lindblad Expeditions compare 6.99%
Travel Services industry median 15.1%
Consumer Cyclical sector median 3.57%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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