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) Return on invested capital
Norwegian Cruise Line Holdings Ltd.'s return on invested capital over the twelve months to 30 June 2026 was 5.51%, down 0.4 percentage points from fiscal 2025 (5.87%). Over the past ten years it has ranged from −16.9% (fiscal 2020) to 6.39% (fiscal 2024); the current reading is higher than 82% of that period. That is above the Travel Services industry median of 5.08% and above the Consumer Cyclical sector median of 2.95%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 5.87% | (0.52) |
| FY2024 | 6.39% | 2.22 |
| FY2023 | 4.17% | 11.78 |
| FY2022 | −7.61% | 4.54 |
| FY2021 | −12.2% | 4.78 |
| FY2020 | −16.9% | (22.57) |
| FY2019 | 5.64% | (0.56) |
| FY2018 | 6.20% | 0.68 |
| FY2017 | 5.52% | 0.17 |
| FY2016 | 5.35% | 0.99 |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| VIK Viking Holdings Ltd. compare | 26.5% |
| MMYT MakeMyTrip Limited compare | 16.6% |
| TNL Travel + Leisure Co. compare | 8.30% |
| CCL Carnival Corporation compare | 7.47% |
| LIND Lindblad Expeditions compare | 6.68% |
| TCOM Trip.com Group Limited Sponsored ADR compare | 6.10% |
| PRSU Pursuit Attractions and Hospitality, Inc. compare | 5.65% |
| NCLH Norwegian Cruise Line Holdings Ltd. | 5.51% |
| EXPE Expedia Group, Inc. compare | 0.00% |
| Travel Services industry median | 5.08% |
| Consumer Cyclical sector median | 2.95% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
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