NCLH
Norwegian Cruise Line Holdings Ltd.
Travel Services
Market Cap$7.91B
5Y Perf.+10.0%
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Stock Comparison
NCLH vs HGV
Revenue, margins, valuation, and 5-year total return — side by side.
HGV
Hilton Grand Vacations Inc.
Gambling, Resorts & Casinos
Market Cap$3.95B
5Y Perf.+125.7%
NCLH vs HGV — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | NCLH | HGV |
|---|---|---|
| Industry | Travel Services | Gambling, Resorts & Casinos |
| Market Cap | $7.91B | $3.95B |
| Revenue (TTM) | $10.03B | $5.18B |
| Net Income (TTM) | $568M | $199M |
| Gross Margin | 43.0% | 56.8% |
| Operating Margin | 15.9% | 12.1% |
| Forward P/E | 8.2x | 11.4x |
| Total Debt | $14.61B | $7.35B |
| Cash & Equiv. | $210M | $571M |
NCLH vs HGV — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
NCLH
HGV
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Norwegian Cruise Li… (NCLH) | 100 | 110.0 | +10.0% |
| Hilton Grand Vacati… (HGV) | 100 | 225.7 | +125.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NCLH vs HGV
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: NCLH leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Hilton Grand Vacations Inc. is the stronger pick specifically for capital preservation and lower volatility and recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
NCLH
Norwegian Cruise Line Holdings Ltd.
The Growth Play
NCLH carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 3.7%, EPS growth -52.4%, 3Y rev CAGR 26.6%
- 3.7% revenue growth vs HGV's 1.3%
- Lower P/E (8.2x vs 11.4x)
Best for: growth exposure
HGV
Hilton Grand Vacations Inc.
The Income Pick
HGV is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 1 yrs, beta 1.71
- 88.1% 10Y total return vs NCLH's -65.0%
- Lower volatility, beta 1.71, current ratio 5.20x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | NCLH | 3.7% revenue growth vs HGV's 1.3% |
| Value | NCLH | Lower P/E (8.2x vs 11.4x) |
| Quality / Margins | NCLH | 5.7% margin vs HGV's 3.8% |
| Stability / Safety | HGV | Beta 1.71 vs NCLH's 2.26, lower leverage |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | HGV | +27.8% vs NCLH's -0.5% |
| Efficiency (ROA) | NCLH | 2.5% ROA vs HGV's 1.7%, ROIC 7.5% vs 5.0% |
NCLH vs HGV — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
NCLH vs HGV — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLHGVLAGGINGNCLH
NCLHNorwegian Cruise Line…
2leads
HGVHilton Grand Vacation…
3leads
6 Total Categories
CATEGORYLEADERvs NCLHMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
HGV4/6
Valuation MetricsMultiples, price ratios, and targets
NCLH3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
NCLH5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
HGV4/6
Risk & VolatilityBeta, volatility, and downside exposure
HGV2/2
Analyst OutlookRatings, price targets, and dividends
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—
Income & Cash Flow (Last 12 Months)
HGV leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NCLH is the larger business by revenue, generating $10.0B annually — 1.9x HGV's $5.2B. Profitability is closely matched — net margins range from 5.7% (NCLH) to 3.8% (HGV).
| Metric | NCLHNorwegian Cruise … | HGVHilton Grand Vaca… |
|---|---|---|
| RevenueTrailing 12 months | $10.0B | $5.2B |
| EBITDAEarnings before interest/tax | $2.6B | $905M |
| Net IncomeAfter-tax profit | $568M | $199M |
| Free Cash FlowCash after capex | -$949M | $328M |
| Gross MarginGross profit ÷ Revenue | +43.0% | +56.8% |
| Operating MarginEBIT ÷ Revenue | +15.9% | +12.1% |
| Net MarginNet income ÷ Revenue | +5.7% | +3.8% |
| FCF MarginFCF ÷ Revenue | -9.5% | +6.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.6% | +11.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.5% | +5.4% |
HGV leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
NCLH leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
At 19.1x trailing earnings, NCLH trades at a 65% valuation discount to HGV's 54.6x P/E. On an enterprise value basis, NCLH's 8.1x EV/EBITDA is more attractive than HGV's 12.9x.
| Metric | NCLHNorwegian Cruise … | HGVHilton Grand Vaca… |
|---|---|---|
| Market CapShares × price | $7.9B | $4.0B |
| Enterprise ValueMkt cap + debt − cash | $22.3B | $10.7B |
| Trailing P/EPrice ÷ TTM EPS | 19.13x | 54.63x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.20x | 11.35x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 8.14x | 12.87x |
| Price / SalesMarket cap ÷ Revenue | 0.80x | 0.78x |
| Price / BookPrice ÷ Book value/share | 3.58x | 3.09x |
| Price / FCFMarket cap ÷ FCF | — | 17.18x |
NCLH leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
NCLH leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
NCLH delivers a 27.0% return on equity — every $100 of shareholder capital generates $27 in annual profit, vs $13 for HGV. HGV carries lower financial leverage with a 5.10x debt-to-equity ratio, signaling a more conservative balance sheet compared to NCLH's 6.61x. On the Piotroski fundamental quality scale (0–9), HGV scores 7/9 vs NCLH's 6/9, reflecting strong financial health.
| Metric | NCLHNorwegian Cruise … | HGVHilton Grand Vaca… |
|---|---|---|
| ROE (TTM)Return on equity | +27.0% | +13.3% |
| ROA (TTM)Return on assets | +2.5% | +1.7% |
| ROICReturn on invested capital | +7.5% | +5.0% |
| ROCEReturn on capital employed | +10.2% | +5.5% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 6.61x | 5.10x |
| Net DebtTotal debt minus cash | $14.4B | $6.8B |
| Cash & Equiv.Liquid assets | $210M | $571M |
| Total DebtShort + long-term debt | $14.6B | $7.3B |
| Interest CoverageEBIT ÷ Interest expense | 1.60x | 1.34x |
NCLH leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
HGV leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in HGV five years ago would be worth $10,975 today (with dividends reinvested), compared to $6,046 for NCLH. Over the past 12 months, HGV leads with a +27.8% total return vs NCLH's -0.5%. The 3-year compound annual growth rate (CAGR) favors NCLH at 6.5% vs HGV's 4.7% — a key indicator of consistent wealth creation.
| Metric | NCLHNorwegian Cruise … | HGVHilton Grand Vaca… |
|---|---|---|
| YTD ReturnYear-to-date | -24.4% | +6.9% |
| 1-Year ReturnPast 12 months | -0.5% | +27.8% |
| 3-Year ReturnCumulative with dividends | +20.8% | +14.7% |
| 5-Year ReturnCumulative with dividends | -39.5% | +9.8% |
| 10-Year ReturnCumulative with dividends | -65.0% | +88.1% |
| CAGR (3Y)Annualised 3-year return | +6.5% | +4.7% |
HGV leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
HGV leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
HGV is the less volatile stock with a 1.71 beta — it tends to amplify market swings less than NCLH's 2.26 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HGV currently trades 93.4% from its 52-week high vs NCLH's 63.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NCLHNorwegian Cruise … | HGVHilton Grand Vaca… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.26x | 1.71x |
| 52-Week HighHighest price in past year | $27.18 | $52.08 |
| 52-Week LowLowest price in past year | $16.87 | $36.79 |
| % of 52W HighCurrent price vs 52-week peak | +63.4% | +93.4% |
| RSI (14)Momentum oscillator 0–100 | 42.5 | 59.9 |
| Avg Volume (50D)Average daily shares traded | 21.8M | 764K |
HGV leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates NCLH as "Buy" and HGV as "Hold". Consensus price targets imply 40.4% upside for NCLH (target: $24) vs 3.7% for HGV (target: $50).
| Metric | NCLHNorwegian Cruise … | HGVHilton Grand Vaca… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $24.18 | $50.40 |
| # AnalystsCovering analysts | 37 | 16 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.3% | +15.2% |
Insufficient data to determine a leader in this category.
Key Takeaway
HGV leads in 3 of 6 categories (Income & Cash Flow, Total Returns). NCLH leads in 2 (Valuation Metrics, Profitability & Efficiency).
Best OverallHilton Grand Vacations Inc. (HGV)Leads 3 of 6 categories
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NCLH vs HGV: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is NCLH or HGV a better buy right now?
For growth investors, Norwegian Cruise Line Holdings Ltd.
(NCLH) is the stronger pick with 3. 7% revenue growth year-over-year, versus 1. 3% for Hilton Grand Vacations Inc. (HGV). Norwegian Cruise Line Holdings Ltd. (NCLH) offers the better valuation at 19. 1x trailing P/E (8. 2x forward), making it the more compelling value choice. Analysts rate Norwegian Cruise Line Holdings Ltd. (NCLH) a "Buy" — based on 37 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NCLH or HGV?
On trailing P/E, Norwegian Cruise Line Holdings Ltd.
(NCLH) is the cheapest at 19. 1x versus Hilton Grand Vacations Inc. at 54. 6x. On forward P/E, Norwegian Cruise Line Holdings Ltd. is actually cheaper at 8. 2x.
03Which is the better long-term investment — NCLH or HGV?
Over the past 5 years, Hilton Grand Vacations Inc.
(HGV) delivered a total return of +9. 8%, compared to -39. 5% for Norwegian Cruise Line Holdings Ltd. (NCLH). Over 10 years, the gap is even starker: HGV returned +88. 1% versus NCLH's -65. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NCLH or HGV?
By beta (market sensitivity over 5 years), Hilton Grand Vacations Inc.
(HGV) is the lower-risk stock at 1. 71β versus Norwegian Cruise Line Holdings Ltd. 's 2. 26β — meaning NCLH is approximately 32% more volatile than HGV relative to the S&P 500. On balance sheet safety, Hilton Grand Vacations Inc. (HGV) carries a lower debt/equity ratio of 5% versus 7% for Norwegian Cruise Line Holdings Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — NCLH or HGV?
By revenue growth (latest reported year), Norwegian Cruise Line Holdings Ltd.
(NCLH) is pulling ahead at 3. 7% versus 1. 3% for Hilton Grand Vacations Inc. (HGV). On earnings-per-share growth, the picture is similar: Hilton Grand Vacations Inc. grew EPS 93. 5% year-over-year, compared to -52. 4% for Norwegian Cruise Line Holdings Ltd.. Over a 3-year CAGR, NCLH leads at 26. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — NCLH or HGV?
Norwegian Cruise Line Holdings Ltd.
(NCLH) is the more profitable company, earning 4. 3% net margin versus 1. 6% for Hilton Grand Vacations Inc. — meaning it keeps 4. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NCLH leads at 16. 2% versus 11. 1% for HGV. At the gross margin level — before operating expenses — HGV leads at 56. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is NCLH or HGV more undervalued right now?
On forward earnings alone, Norwegian Cruise Line Holdings Ltd.
(NCLH) trades at 8. 2x forward P/E versus 11. 4x for Hilton Grand Vacations Inc. — 3. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NCLH: 40. 4% to $24. 18.
08Which pays a better dividend — NCLH or HGV?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is NCLH or HGV better for a retirement portfolio?
For long-horizon retirement investors, Hilton Grand Vacations Inc.
(HGV) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. Norwegian Cruise Line Holdings Ltd. (NCLH) carries a higher beta of 2. 26 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (HGV: +88. 1%, NCLH: -65. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between NCLH and HGV?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(NCLH: 9.6% · HGV: 11.9%)Net Margin>
%
(NCLH: 5.7% · HGV: 3.8%)P/E Ratio<
x
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