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Stocks/Consumer Discretionary/Hotels, Resorts & Cruise Lines

Norwegian Cruise Line HoldingsNCLH

Hotels, Resorts & Cruise Lines · Miami-Dade County, Florida[3] · In the S&P 500
Solid businessCheaper than peers
$17.57−3.57%After hours: $17.58 (+0.06%)At the close, 30 Oct · Prices from CNBC, may be delayed
▼ 20.9% over 1 year
Norwegian Cruise Line Holdings over 1 yearDaily close, $, to 30 Oct 2026
$15$20$25Nov2026MarMayJulSep$17.57$15$20$25NovMarJul$17.57
Source: Nasdaq daily closes
Market value$8.07B
Price to earnings9.7x
Forward P/E15.5x
Dividend yield–
Year to date−21.3%
One year−20.9%
Next earningsNot scheduled
SectorConsumer Discretionary
52-week range (closes)
$14.12$25.02

Quality and valuation

How Norwegian Cruise Line Holdings compares with other consumer discretionary stocks. A description, not a recommendation.

Norwegian Cruise Line Holdings and 7 hotels, resorts & cruise lines peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: cheaper than most

An average business among consumer discretionary companies, priced below most of them.

Norwegian Cruise Line Holdings trades at 15.5 times the next 12 months of expected earnings, against a median of 19.5x for the 66 consumer discretionary stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +4.9% vs +8.1%
  • Keeps more of each sale (gross margin): 41.4% vs 40.5%
  • Less profitable (operating margin): 13.8% vs 13.8%
  • Turns less of its sales into cash: −5.6% vs 10.1%
NCLH trades at 15.5x forward earnings, below the sector medianForward p/e, Hotels, Resorts & Cruise Lines peers
CCL12.1xEXPE12.5xBKNG13.3xNCLH15.5xRCL16.4xABNB29.1xMAR33.5xHLT37.0xSector median 19.5xCCL12.1xEXPE12.5xBKNG13.3xNCLH15.5xRCL16.4xABNB29.1xMAR33.5xHLT37.0xSector median 19.5x
Source: CNBC quotes; Mostly Markets
At 9.7x earnings, NCLH is cheaper than its average since Nov 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
15x20x25xAverage 16.2x202520269.7x20xAverage 16.2x202520269.7x
Source: Nasdaq prices; SEC filings

Financials

From Norwegian Cruise Line Holdings's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 0.3% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$1bn$2bnQ4 ’24Q2 ’25Q4 ’25$3.0bnQ3 ’26$0bn$1bn$2bnQ4 ’24Q2 ’25Q4 ’25$3.0bnQ3 ’26
Source: SEC filings
Growth slowed to +0.3% last quarterRevenue growth, year on year, %
0%5%Q4 ’24Q2 ’25Q4 ’250.3%Q3 ’260%5%Q4 ’24Q2 ’25Q4 ’250.3%Q3 ’26
Source: SEC filings
Operating margin was 21.2% last quarterOperating income as a share of revenue, %
0%10%20%Q4 ’24Q2 ’25Q4 ’2521.2%Q3 ’260%10%20%Q4 ’24Q2 ’25Q4 ’2521.2%Q3 ’26
Source: SEC filings
Free cash flow was −$564 million over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
−$500m$0mQ4 ’24Q2 ’25Q4 ’25−$105mQ3 ’26−$500m$0mQ4 ’24Q2 ’25Q4 ’25−$105mQ3 ’26
Source: SEC filings
Last 12 monthsNCLHSector median
Revenue growth+4.9%+8.1%
Gross margin41.4%40.5%
Operating margin13.8%13.8%
Free cash flow margin−5.6%10.1%
Price to earnings9.7x21.0x

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