Norwegian Cruise Line Holdings

Consumer Discretionary Hotels, Resorts & Cruise Lines Miami, Florida Last filing Mar 2, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.8B
                    3y CAGR +26.6%
                    
                    P93
                    
                    n/a
                    
                    Net income
                    FY2025
                
$423.2M
                    Net margin +4.3%
                    
                    P27
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$22.5B
                    ROA +1.9%
                    
                    P18
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$2.1B
                    FCF margin -11.9%
                    
                    P2
                    
                    n/a

15 yrs · FY2011–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

24 accounts · 1 year

Total assets $22.5B

Total liabilities $20.3B

Shareholders equity $2.2B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$209.9M
Accounts Receivable	$291.7M
Inventory	$138.2M
Prepaid Expenses	$498.8M
Total Current Assets	$1.1B
Property,Plant and Equipment	$19.1B
Goodwill	$135.8M
Intangible Assets	$500.5M
Other Noncurrent Assets	$1.7B
Total Assets	$22.5B
Liabilities
Accounts Payable	$169.7M
Accrued Liabilities	$1.2B
Deferred Revenue	$3.2B
Current Portion of Long Term Debt	$875.9M
Total Current Liabilities	$5.5B
Long Term Debt	$13.7B
Other Noncurrent Liabilities	$1.1B
Total Liabilities	$20.3B
Equity
Common Stock	$455.0K
Additional Paid In Capital	$8.2B
Retained Earnings	$-5.6B
Accumulated Other Comprehensive Income	$-451.4M
Total Stockholders Equity	$2.2B
Total Liabilitiesand Equity	$22.5B

Income Statement

Revenue, expense, and profitability

15 accounts · 1 year

Revenue $9.8B

Operating income $1.6B

Net income $423.2M

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$9.8B
Expenses Cost of Revenue	$5.6B
Expenses Selling,General and Administrative	$1.5B
Expenses Depreciation and Amortization	$1.1B
Expenses Operating Expenses	$2.6B
Other Income Expense Operating Income	$1.6B
Other Income Expense Interest Expense	$953.5M
Other Income Expense Other Income/expense	$-1.3B
Other Income Expense Income Before Tax	$428.7M
Income Tax Income Tax Expense	$5.5M
net Income net Income	$423.2M
net Income Comprehensive Income	$478.9M
Earnings Per Share Basic Eps	$1
Earnings Per Share Diluted Eps	$1
Earnings Per Share Weighted Average Shares Diluted	$477.7M

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 1 year

Operating cash flow $2.1B

Investing cash flow $-3.3B

Financing cash flow $1.2B

Account	2025	Trend
CashFlow
Operating Activities net Income	$423.2M
Operating Activities Depreciation and Amortization	$1.2B
Operating Activities Stock Based Compensation	$88.4M
Operating Activities Deferred Income Taxes	$2.3M
Operating Activities Changes In Operating Assets and Liabilities	$4.5M
Operating Activities Other Non Cash Items	$409.2M
Operating Activities net Cash From Operating Activities	$2.1B
Investing Activities Capital Expenditures	$-3.3B
Investing Activities Other Investing Activities	$-5.1M
Investing Activities net Cash From Investing Activities	$-3.3B
Financing Activities Proceeds From Debt	$9.7B
Financing Activities Repayment of Debt	$-8.4B
Financing Activities Proceeds From Stock Issuance	$145.0M
Financing Activities Tax Withholding On Stock Based Compensation	$-23.8M
Financing Activities Other Financing Activities	$-253.9M
Financing Activities net Cash From Financing Activities	$1.2B
Cash Reconciliation net Change In Cash	$19.1M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+42.6%
Operating margin	+15.9%
Net margin	+4.3%
FCF margin	-11.9%
Growth
Revenue CAGR (3y)	+26.6%
Returns
ROE	+19.2%
ROA	+1.9%
ROIC	+9.3%
Liquidity
Current ratio	0.21x
Quick ratio	0.09x
Leverage
D/E	9.20x
Interest coverage	1.64x
Efficiency
Asset turnover	0.44x
Cash conversion cycle	+9d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Norwegian Cruise Line Holdings

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