Health score, competitive moat, risk signals, and key metrics at a glance.
Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. It offers itineraries to destinations, such as Europe, Asia, Australia, New Zealand, South America, Africa, Canada, Bermuda, the Caribbean, and Alaska; and inter-island itinerary in Hawaii. The company also provides features, amenities, and activities, including various accommodations, dining venues, bars and lounges, spas, casino and retail shopping areas, and entertainment choices; shore excursions at each port of call, and air transportation and hotel packages for stays before or after a voyage. It offers its products and services under the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. The company was founded in 1966 and is based in Miami, Florida.
Competitive analysis based on 53 quarters of fundamental data
Operating margins are expanding at ~14.9%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 44.0% suggests a durable competitive advantage and efficient capital allocation.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~10.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 53 quarters
Margins are stable or improving at ~15.2% — no sign of cost or pricing stress.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 5.7 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
Revenue is stable or growing over recent quarters — demand appears durable.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares outstanding increased 5.0% — significant dilution, likely from stock compensation or capital raises.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
