Norwegian Cruise Line Holdings Ltd
Research Norwegian Cruise Line Holdings Ltd (NCLH) on Bullrun: valuation model: 43.9% undervalued, market cap USD 7.15B, P/E 9.8. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNCLH
- ExchangeNYSE
- CountryUnited States
- SectorConsumer Cyclical
- IndustryTravel Services
- CurrencyUSD
- Valuation signal43.9% undervalued
- Market capUSD 7.15B
- P/E9.8
- Financial periodQ2 2026
- RevenueUSD 2.64B
- Net incomeUSD 222.55M
- Free cash flowUSD 144.89M
- Gross margin39.9%
Valuation Snapshot
Bullrun's latest valuation model marks Norwegian Cruise Line Holdings Ltd as 43.9% undervalued; latest market cap is USD 7.15B; P/E is 9.8.
Peer valuation comparison
Latest P/E is 9.84x versus a Consumer Cyclical sector median of 17.61x (44.1% below).
Latest P/E is 9.84x versus a United States median of 23.85x (58.7% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 9.83B | USD 423.20M | -USD 1.17B | 42.6% | 0.92 | USD 209.89M | USD 14.61B | USD 2.21B |
| FY2024 | USD 9.48B | USD 910.30M | USD 838.87M | 40.0% | 1.89 | USD 190.77M | USD 13.10B | USD 1.43B |
| FY2023 | USD 8.55B | USD 166.20M | -USD 744.65M | 36.0% | 0.39 | USD 402.42M | USD 14.06B | USD 300.81M |
| FY2022 | USD 4.84B | -USD 2.27B | -USD 1.57B | 11.9% | -5.41 | USD 946.99M | USD 13.62B | USD 68.59M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 7.15B | 9.8 | n/a | n/a |
| 2025 | 2025-12-31 | USD 10.16B | 26.3 | n/a | n/a |
| 2024 | 2024-12-31 | USD 11.32B | 14.5 | n/a | n/a |
| 2023 | 2023-12-29 | USD 8.53B | n/a | n/a | n/a |
| 2022 | 2022-12-30 | USD 5.16B | n/a | n/a | n/a |
| 2021 | 2021-12-31 | USD 8.65B | n/a | n/a | n/a |
About Norwegian Cruise Line Holdings Ltd
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.
ETFs that hold Norwegian Cruise Line Holdings Ltd
Norwegian Cruise Line Holdings Ltd is one of the ten largest holdings of one ETF that investors in Europe can buy:
| ETF | Weight | TER |
|---|---|---|
| US Global Investors Travel UCITS ETF | 3.97% | 0.69% |
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Frequently asked questions
Is Norwegian Cruise Line Holdings Ltd overvalued or undervalued?
Bullrun's valuation model currently marks Norwegian Cruise Line Holdings Ltd as 43.9% undervalued.
What is Norwegian Cruise Line Holdings Ltd's market cap?
Norwegian Cruise Line Holdings Ltd's market capitalization is USD 7.15B.
What is Norwegian Cruise Line Holdings Ltd's P/E ratio?
Norwegian Cruise Line Holdings Ltd's price-to-earnings (P/E) ratio is 9.8.
What does Norwegian Cruise Line Holdings Ltd do?
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.