NCLH
Norwegian Cruise Line Holdings Ltd.
Travel Services
Market Cap$7.91B
5Y Perf.+10.0%
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Stock Comparison
NCLH vs ONEW
Revenue, margins, valuation, and 5-year total return — side by side.
ONEW
OneWater Marine Inc.
Auto - Recreational Vehicles
Market Cap$198M
5Y Perf.-19.1%
NCLH vs ONEW — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | NCLH | ONEW |
|---|---|---|
| Industry | Travel Services | Auto - Recreational Vehicles |
| Market Cap | $7.91B | $198M |
| Revenue (TTM) | $10.03B | $1.88B |
| Net Income (TTM) | $568M | $-110M |
| Gross Margin | 43.0% | 22.5% |
| Operating Margin | 15.9% | 3.4% |
| Forward P/E | 8.2x | 20.8x |
| Total Debt | $14.61B | $964M |
| Cash & Equiv. | $210M | $52M |
NCLH vs ONEW — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
NCLH
ONEW
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Norwegian Cruise Li… (NCLH) | 100 | 110.0 | +10.0% |
| OneWater Marine Inc. (ONEW) | 100 | 80.9 | -19.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NCLH vs ONEW
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 valuation and capital efficiency and profitability and margin quality. OneWater Marine Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. 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%
- Lower P/E (8.2x vs 20.8x)
- 5.7% margin vs ONEW's -5.9%
Best for: growth exposure
ONEW
OneWater Marine Inc.
The Income Pick
ONEW is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 1.98, yield 0.1%
- -9.2% 10Y total return vs NCLH's -65.0%
- Lower volatility, beta 1.98, current ratio 1.14x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | ONEW | 5.6% revenue growth vs NCLH's 3.7% |
| Value | NCLH | Lower P/E (8.2x vs 20.8x) |
| Quality / Margins | NCLH | 5.7% margin vs ONEW's -5.9% |
| Stability / Safety | ONEW | Beta 1.98 vs NCLH's 2.26, lower leverage |
| Dividends | ONEW | 0.1% yield; the other pay no meaningful dividend |
| Momentum (1Y) | NCLH | -0.5% vs ONEW's -1.3% |
| Efficiency (ROA) | NCLH | 2.5% ROA vs ONEW's -7.3%, ROIC 7.5% vs 3.6% |
NCLH vs ONEW — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
NCLH vs ONEW — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLNCLHLAGGINGONEW
ONEWOneWater Marine Inc.
2leads
NCLHNorwegian Cruise Line…
3leads
6 Total Categories
CATEGORYLEADERvs ONEWMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
NCLH5/6
Valuation MetricsMultiples, price ratios, and targets
ONEW3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
NCLH6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
NCLH4/6
Risk & VolatilityBeta, volatility, and downside exposure
ONEW2/2
Analyst OutlookRatings, price targets, and dividends
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Income & Cash Flow (Last 12 Months)
NCLH leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NCLH is the larger business by revenue, generating $10.0B annually — 5.3x ONEW's $1.9B. NCLH is the more profitable business, keeping 5.7% of every revenue dollar as net income compared to ONEW's -5.9%. On growth, NCLH holds the edge at +9.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NCLHNorwegian Cruise … | ONEWOneWater Marine I… |
|---|---|---|
| RevenueTrailing 12 months | $10.0B | $1.9B |
| EBITDAEarnings before interest/tax | $2.6B | $87M |
| Net IncomeAfter-tax profit | $568M | -$110M |
| Free Cash FlowCash after capex | -$949M | $41M |
| Gross MarginGross profit ÷ Revenue | +43.0% | +22.5% |
| Operating MarginEBIT ÷ Revenue | +15.9% | +3.4% |
| Net MarginNet income ÷ Revenue | +5.7% | -5.9% |
| FCF MarginFCF ÷ Revenue | -9.5% | +2.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.6% | +1.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.5% | +42.0% |
NCLH leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
ONEW leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, NCLH's 8.1x EV/EBITDA is more attractive than ONEW's 13.3x.
| Metric | NCLHNorwegian Cruise … | ONEWOneWater Marine I… |
|---|---|---|
| Market CapShares × price | $7.9B | $198M |
| Enterprise ValueMkt cap + debt − cash | $22.3B | $1.1B |
| Trailing P/EPrice ÷ TTM EPS | 19.13x | -1.65x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.20x | 20.77x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 8.14x | 13.26x |
| Price / SalesMarket cap ÷ Revenue | 0.80x | 0.11x |
| Price / BookPrice ÷ Book value/share | 3.58x | 0.66x |
| Price / FCFMarket cap ÷ FCF | — | 2.51x |
ONEW leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
NCLH leads this category, winning 6 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 $-33 for ONEW. ONEW carries lower financial leverage with a 3.38x debt-to-equity ratio, signaling a more conservative balance sheet compared to NCLH's 6.61x. On the Piotroski fundamental quality scale (0–9), NCLH scores 6/9 vs ONEW's 3/9, reflecting solid financial health.
| Metric | NCLHNorwegian Cruise … | ONEWOneWater Marine I… |
|---|---|---|
| ROE (TTM)Return on equity | +27.0% | -33.0% |
| ROA (TTM)Return on assets | +2.5% | -7.3% |
| ROICReturn on invested capital | +7.5% | +3.6% |
| ROCEReturn on capital employed | +10.2% | +7.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 6.61x | 3.38x |
| Net DebtTotal debt minus cash | $14.4B | $912M |
| Cash & Equiv.Liquid assets | $210M | $52M |
| Total DebtShort + long-term debt | $14.6B | $964M |
| Interest CoverageEBIT ÷ Interest expense | 1.60x | -1.63x |
NCLH leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
NCLH leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NCLH five years ago would be worth $6,046 today (with dividends reinvested), compared to $2,568 for ONEW. Over the past 12 months, NCLH leads with a -0.5% total return vs ONEW's -1.3%. The 3-year compound annual growth rate (CAGR) favors NCLH at 6.5% vs ONEW's -24.7% — a key indicator of consistent wealth creation.
| Metric | NCLHNorwegian Cruise … | ONEWOneWater Marine I… |
|---|---|---|
| YTD ReturnYear-to-date | -24.4% | +10.9% |
| 1-Year ReturnPast 12 months | -0.5% | -1.3% |
| 3-Year ReturnCumulative with dividends | +20.8% | -57.3% |
| 5-Year ReturnCumulative with dividends | -39.5% | -74.3% |
| 10-Year ReturnCumulative with dividends | -65.0% | -9.2% |
| CAGR (3Y)Annualised 3-year return | +6.5% | -24.7% |
NCLH leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
ONEW leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
ONEW is the less volatile stock with a 1.98 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. ONEW currently trades 66.6% 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 … | ONEWOneWater Marine I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.26x | 1.98x |
| 52-Week HighHighest price in past year | $27.18 | $17.92 |
| 52-Week LowLowest price in past year | $16.87 | $8.12 |
| % of 52W HighCurrent price vs 52-week peak | +63.4% | +66.6% |
| RSI (14)Momentum oscillator 0–100 | 42.5 | 59.6 |
| Avg Volume (50D)Average daily shares traded | 21.8M | 147K |
ONEW 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 ONEW as "Buy". Consensus price targets imply 40.4% upside for NCLH (target: $24) vs 17.3% for ONEW (target: $14). ONEW is the only dividend payer here at 0.15% yield — a key consideration for income-focused portfolios.
| Metric | NCLHNorwegian Cruise … | ONEWOneWater Marine I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $24.18 | $14.00 |
| # AnalystsCovering analysts | 37 | 9 |
| Dividend YieldAnnual dividend ÷ price | — | +0.1% |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | $0.02 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.3% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
NCLH leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). ONEW leads in 2 (Valuation Metrics, Risk & Volatility).
Best OverallNorwegian Cruise Line Holdi… (NCLH)Leads 3 of 6 categories
Loading custom metrics...
NCLH vs ONEW: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is NCLH or ONEW a better buy right now?
For growth investors, OneWater Marine Inc.
(ONEW) is the stronger pick with 5. 6% revenue growth year-over-year, versus 3. 7% for Norwegian Cruise Line Holdings Ltd. (NCLH). 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 ONEW?
On forward P/E, Norwegian Cruise Line Holdings Ltd.
is actually cheaper at 8. 2x.
03Which is the better long-term investment — NCLH or ONEW?
Over the past 5 years, Norwegian Cruise Line Holdings Ltd.
(NCLH) delivered a total return of -39. 5%, compared to -74. 3% for OneWater Marine Inc. (ONEW). Over 10 years, the gap is even starker: ONEW returned -9. 2% 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 ONEW?
By beta (market sensitivity over 5 years), OneWater Marine Inc.
(ONEW) is the lower-risk stock at 1. 98β versus Norwegian Cruise Line Holdings Ltd. 's 2. 26β — meaning NCLH is approximately 14% more volatile than ONEW relative to the S&P 500. On balance sheet safety, OneWater Marine Inc. (ONEW) carries a lower debt/equity ratio of 3% versus 7% for Norwegian Cruise Line Holdings Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — NCLH or ONEW?
By revenue growth (latest reported year), OneWater Marine Inc.
(ONEW) is pulling ahead at 5. 6% versus 3. 7% for Norwegian Cruise Line Holdings Ltd. (NCLH). On earnings-per-share growth, the picture is similar: Norwegian Cruise Line Holdings Ltd. grew EPS -52. 4% year-over-year, compared to -1751. 3% for OneWater Marine Inc.. 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 ONEW?
Norwegian Cruise Line Holdings Ltd.
(NCLH) is the more profitable company, earning 4. 3% net margin versus -6. 1% for OneWater Marine 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 3. 3% for ONEW. At the gross margin level — before operating expenses — NCLH leads at 32. 0%, 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 ONEW more undervalued right now?
On forward earnings alone, Norwegian Cruise Line Holdings Ltd.
(NCLH) trades at 8. 2x forward P/E versus 20. 8x for OneWater Marine Inc. — 12. 6x 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 ONEW?
In this comparison, ONEW (0.
1% yield) pays a dividend. NCLH does not pay a meaningful dividend and should not be held primarily for income.
09Is NCLH or ONEW better for a retirement portfolio?
For long-horizon retirement investors, OneWater Marine Inc.
(ONEW) 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 (ONEW: -9. 2%, 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 ONEW?
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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