Norwegian Cruise Line Holdings Ltd
Research Norwegian Cruise Line Holdings Ltd (NCLH) on Bullrun: valuation model: 27.7% undervalued, market cap USD 7.93B, P/E 10.9. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNCLH
- ExchangeNYSE
- CountryUnited States
- SectorConsumer Cyclical
- IndustryTravel Services
- CurrencyUSD
- Valuation signal27.7% undervalued
- Market capUSD 7.93B
- P/E10.9
- 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 27.7% undervalued; latest market cap is USD 7.93B; P/E is 10.9.
Peer valuation comparison
Latest P/E is 10.91x versus a Consumer Cyclical sector median of 17.59x (38.0% below).
Latest P/E is 10.91x versus a United States median of 24.87x (56.1% 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 13.24B | USD 68.59M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 7.93B | 10.9 | 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.
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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 27.7% undervalued.
What is Norwegian Cruise Line Holdings Ltd's market cap?
Norwegian Cruise Line Holdings Ltd's market capitalization is USD 7.93B.
What is Norwegian Cruise Line Holdings Ltd's P/E ratio?
Norwegian Cruise Line Holdings Ltd's price-to-earnings (P/E) ratio is 10.9.
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.