Norwegian Cruise Line Holdings Ltd.NCLH
NYSE•Consumer Cyclical•Travel Services
Understand cash generation quality and how management allocates capital.
Free cash flow was $-625.22M in the latest quarter (26.1% increase YoY). FCF margin is -6.2%. Shares outstanding increased by 3.5% year-over-year, indicating dilution (potentially from stock compensation or capital raises). Free cash flow is the lifeblood of a business — it funds dividends, buybacks, debt reduction, and reinvestment without relying on external capital.
Free cash flow, earnings quality, and capital allocation