Norwegian Cruise Line Holdings Ltd. (NCLH) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 1.31B | 1.14B | 1.04B | 1.17B | 1.15B | 1.01B | 1.18B | 1.58B | 1.59B | 1.31B | 1.61B | 1.85B | 1.64B | 1.87B | 2.16B | 3.13B | 3.21B | 3.3B | 3.28B | 3.47B |
| Cash & Short-Term Investments | 185.05M | 209.89M | 166.8M | 184.01M | 184.36M | 190.76M | 332.52M | 594.1M | 559.81M | 402.42M | 681.56M | 899.13M | 700.6M | 946.99M | 1.19B | 1.9B | 2.14B | 1.75B | 1.93B | 2.75B |
| Cash Only | 185.05M | 209.89M | 166.8M | 184.01M | 184.36M | 190.76M | 332.52M | 594.1M | 559.81M | 402.42M | 681.56M | 899.13M | 700.6M | 946.99M | 1.19B | 1.9B | 2.14B | 1.51B | 1.93B | 2.75B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 240M | 0 | 0 |
| Accounts Receivable | 277.1M | 291.66M | 252.63M | 265.78M | 270.52M | 221.41M | 200.84M | 209.34M | 282.31M | 280.27M | 239.42M | 219.12M | 259.29M | 326.27M | 393.12M | 598.26M | 544.96M | 1.17B | 990.38M | 422.6M |
| Days Sales Outstanding | 10.98 | 11.16 | 8.12 | 9.69 | 10.4 | 9.21 | 6.72 | 9.43 | 11.68 | 12.03 | 8.32 | 9.87 | 14.46 | 21.78 | 28.23 | 43.81 | 147.64 | 203.64 | 424.59 | 4.6K |
| Inventory | 162.72M | 138.18M | 155.51M | 160.56M | 155.71M | 149.72M | 145.06M | 149.93M | 157.88M | 157.65M | 166.06M | 153.85M | 145.95M | 148.72M | 155.88M | 154.4M | 141.96M | 118.2M | 108.18M | 92.04M |
| Days Inventory Outstanding | 9.83 | 10.21 | 9.35 | 9.88 | 10.54 | 10.37 | 8.82 | 9.63 | 10.35 | 11.27 | 9.92 | 9.86 | 10.36 | 11.49 | 11.52 | 12.56 | 15.92 | 14.51 | 20.94 | 32.2 |
| Other Current Assets | 682.96M | 498.81M | 466.41M | 562.27M | 534.9M | 448.21M | 500.81M | 628.97M | 590.15M | 472.82M | 524.26M | 576.48M | 538.83M | 450.89M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 22.49B | 21.4B | 21.17B | 20.42B | 20.21B | 18.96B | 18.61B | 18.53B | 18.24B | 18.18B | 17.64B | 16.8B | 16.71B | 16.68B | 16.79B | 15.98B | 16.04B | 15.43B | 15.45B | 15.06B |
| Property, Plant & Equipment | 20.19B | 19.07B | 19.93B | 18.25B | 18.11B | 16.81B | 16.74B | 16.63B | 16.46B | 16.43B | 15.97B | 15.77B | 14.51B | 14.52B | 14.51B | 13.64B | 13.53B | 13.53B | 13.48B | 13.43B |
| Fixed Asset Turnover | 0.12x | 0.12x | 0.15x | 0.14x | 0.12x | 0.13x | 0.17x | 0.14x | 0.13x | 0.12x | 0.16x | 0.15x | 0.13x | 0.10x | 0.11x | 0.09x | 0.04x | 0.04x | 0.01x | 0.00x |
| Goodwill | 135.76M | 135.76M | 135.76M | 135.76M | 135.76M | 135.76M | 135.76M | 135.76M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M | 98.13M |
| Intangible Assets | 0 | 0 | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M | 500.52M |
| Long-Term Investments | 0 | 0 | 986K | 226K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.16B | 2.2B | 605.31M | 1.54B | 1.46B | 1.51B | 1.23B | 1.26B | 1.17B | 1.15B | 1.07B | 430.73M | 1.6B | 1.57B | 1.68B | 1.74B | 1.91B | 1.3B | 1.37B | 1.03B |
| Total Assets | 23.79B | 22.54B | 22.21B | 21.6B | 21.35B | 19.97B | 19.79B | 20.11B | 19.83B | 19.49B | 19.25B | 18.65B | 18.35B | 18.56B | 18.95B | 19.11B | 19.26B | 18.73B | 18.73B | 18.53B |
| Asset Turnover | 0.10x | 0.10x | 0.13x | 0.12x | 0.10x | 0.11x | 0.14x | 0.12x | 0.11x | 0.10x | 0.13x | 0.12x | 0.10x | 0.08x | 0.08x | 0.06x | 0.03x | 0.03x | 0.01x | 0.00x |
| Asset Growth % | 11.43% | 12.88% | 12.27% | 7.37% | 7.71% | 2.45% | 2.77% | 7.86% | 8.04% | 5.04% | 1.59% | -2.43% | -4.7% | -0.92% | 1.18% | 3.17% | 1.48% | 1.8% | 7.63% | 5.7% |
| Total Current Liabilities | 6.22B | 5.45B | 5.35B | 6.39B | 6.09B | 5.78B | 6.04B | 6.63B | 6.6B | 6.04B | 5.4B | 5.82B | 5.7B | 5.05B | 4.66B | 5.03B | 4.18B | 3.73B | 2.94B | 2.18B |
| Accounts Payable | 184.67M | 169.66M | 193.4M | 169.37M | 161.78M | 171.11M | 172.94M | 182.45M | 204.97M | 174.34M | 158.41M | 148.33M | 203.23M | 228.74M | 141.31M | 100.34M | 91.79M | 233.17M | 94.95M | 110.63M |
| Days Payables Outstanding | 11.57 | 12.62 | 10.73 | 10.34 | 11.49 | 12.1 | 10.62 | 12.12 | 12.44 | 11.58 | 9.52 | 11.56 | 15.18 | 13.96 | 8.97 | 8.14 | 19.88 | 21.03 | 21.5 | 37.05 |
| Short-Term Debt | 1.18B | 875.9M | 904.41M | 1.13B | 1.12B | 1.32B | 1.65B | 1.53B | 1.74B | 1.74B | 1.24B | 1.13B | 1.21B | 991.13M | 1.01B | 1.01B | 1.01B | 876.89M | 543.74M | 361.23M |
| Deferred Revenue (Current) | 0 | 0 | 3.15B | 3.83B | 3.76B | 3.11B | 3.14B | 3.78B | 3.63B | 3.06B | 2.97B | 3.35B | 3.18B | 2.52B | 2.29B | 2.33B | 1.98B | 1.56B | 1.44B | 1.08B |
| Other Current Liabilities | 4.86B | 4.41B | 1.1B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 0.21x | 0.21x | 0.19x | 0.18x | 0.19x | 0.17x | 0.20x | 0.24x | 0.24x | 0.22x | 0.30x | 0.32x | 0.29x | 0.37x | 0.46x | 0.62x | 0.77x | 0.89x | 1.12x | 1.59x |
| Quick Ratio | 0.18x | 0.18x | 0.17x | 0.16x | 0.16x | 0.15x | 0.17x | 0.22x | 0.22x | 0.19x | 0.27x | 0.29x | 0.26x | 0.34x | 0.43x | 0.59x | 0.74x | 0.85x | 1.08x | 1.55x |
| Cash Conversion Cycle | 9.23 | 8.74 | 6.74 | 9.23 | 9.46 | 7.47 | 4.92 | 6.94 | 9.59 | 11.72 | 8.73 | 8.17 | 9.64 | 19.31 | 30.78 | 48.23 | 143.68 | 197.12 | 424.03 | 4.59K |
| Total Non-Current Liabilities | 15.15B | 14.88B | 14.67B | 13.64B | 13.84B | 12.76B | 12.61B | 12.79B | 12.86B | 13.15B | 13.41B | 12.81B | 12.75B | 13.43B | 13.89B | 13.18B | 13.57B | 12.57B | 12.91B | 12.63B |
| Long-Term Debt | 13.98B | 13.73B | 13.65B | 12.63B | 12.87B | 11.78B | 11.75B | 11.91B | 12.01B | 12.31B | 12.63B | 11.99B | 11.92B | 12.63B | 12.89B | 12.24B | 12.56B | 11.57B | 11.86B | 11.92B |
| Capital Lease Obligations | 0 | 0 | 795.71M | 797.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 597.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.17B | 1.15B | 230.49M | 207.3M | 971.48M | 986.79M | 860.41M | 873.71M | 859.28M | 839.34M | 776.17M | 223.15M | 830.2M | 803.85M | 994.99M | 938.56M | 1.01B | 997.05M | 1.04B | 702.13M |
| Total Liabilities | 21.36B | 20.33B | 20.02B | 20.03B | 19.94B | 18.54B | 18.65B | 19.42B | 19.46B | 19.19B | 18.81B | 18.63B | 18.45B | 18.49B | 18.55B | 18.21B | 17.75B | 16.3B | 15.85B | 14.81B |
| Total Debt | 15.15B | 14.61B | 15.35B | 14.59B | 13.99B | 13.1B | 13.41B | 13.44B | 13.75B | 14.06B | 13.87B | 13.76B | 13.13B | 13.62B | 13.91B | 13.24B | 13.57B | 12.45B | 12.41B | 12.29B |
| Net Debt | 14.97B | 14.4B | 15.18B | 14.41B | 13.81B | 12.91B | 13.07B | 12.84B | 13.19B | 13.66B | 13.19B | 12.86B | 12.43B | 12.67B | 12.72B | 11.34B | 11.44B | 10.94B | 10.47B | 9.54B |
| Debt / Equity | 6.23x | 6.61x | 7.00x | 9.30x | 9.88x | 9.19x | 11.81x | 19.39x | 37.97x | 46.74x | 31.63x | 903.85x | - | 198.59x | 34.78x | 14.69x | 9.00x | 5.12x | 4.30x | 3.30x |
| Debt / EBITDA | 30.70x | 30.32x | 15.34x | 21.85x | 31.00x | 28.39x | 14.41x | 22.99x | 29.67x | 39.31x | 18.55x | 28.24x | 59.31x | - | 824.16x | - | - | - | - | - |
| Net Debt / EBITDA | 30.32x | 29.88x | 15.17x | 21.58x | 30.59x | 27.98x | 14.06x | 21.98x | 28.46x | 38.19x | 17.64x | 26.39x | 56.14x | - | 753.83x | - | - | - | - | - |
| Interest Coverage | 1.16x | 1.03x | 2.32x | 1.18x | 0.81x | 1.61x | 3.75x | 1.92x | 1.08x | 0.45x | 2.95x | 1.49x | 0.01x | -1.72x | -1.01x | -2.53x | -1.99x | -0.65x | -4.25x | -4.22x |
| Total Equity | 2.43B | 2.21B | 2.19B | 1.57B | 1.42B | 1.43B | 1.14B | 693.13M | 362.09M | 300.81M | 438.69M | 15.22M | -99.55M | 68.59M | 399.78M | 901.82M | 1.51B | 2.43B | 2.88B | 3.72B |
| Equity Growth % | 71.65% | 55.03% | 93.17% | 126.45% | 291.21% | 373.87% | 158.8% | 4453.79% | 463.74% | 338.55% | 9.73% | -98.31% | -106.6% | -97.18% | -86.13% | -75.75% | -65.56% | -44.13% | -29.47% | -14.24% |
| Book Value per Share | 5.22 | 4.81 | 4.42 | 3.54 | 3.21 | 2.75 | 2.21 | 1.35 | 0.84 | 0.71 | 0.86 | 0.03 | -0.24 | 0.16 | 0.95 | 2.15 | 3.61 | 6.21 | 7.79 | 10.05 |
| Total Shareholders' Equity | 2.43B | 2.21B | 2.19B | 1.57B | 1.42B | 1.43B | 1.14B | 693.13M | 362.09M | 300.81M | 438.69M | 15.22M | -99.55M | 68.59M | 399.78M | 901.82M | 1.51B | 2.43B | 2.88B | 3.72B |
| Common Stock | 459K | 455K | 455K | 447K | 443K | 440K | 440K | 440K | 429K | 425K | 425K | 425K | 424K | 421K | 421K | 419K | 419K | 417K | 370K | 370K |
| Retained Earnings | -5.46B | -5.57B | -5.58B | -6B | -6.03B | -5.99B | -6.24B | -6.72B | -6.88B | -6.9B | -6.79B | -7.14B | -7.23B | -7.07B | -6.58B | -6.29B | -5.78B | -4.8B | -3.22B | -2.38B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -327.77M | -451.37M | -430.12M | -438.99M | -472.13M | -507.04M | -519.68M | -466.32M | -464.42M | -508.44M | -455.94M | -507.33M | -505.36M | -477.08M | -604.5M | -377.29M | -250.81M | -285.09M | -264.99M | -232.9M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |