Last 48 quarters of trend data · Consumer Cyclical · Travel Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Norwegian Cruise Line Holdings Ltd.'s quarterly P/E stands at 20.3x.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 22.27 | 20.33 | 186.00 | 7.16 | 75.78 | — | 13.13 | 5.40 | 14.68 | 129.84 | — | 6.06 | 28.64 |
| — | — | +1316.9% | +32.7% | +416.3% | — | — | -10.9% | -48.8% | — | — | — | — | |
| P/S Ratio | 0.94 | 0.93 | 1.14 | 1.04 | 0.89 | 0.98 | 1.58 | 0.94 | 1.02 | 1.03 | 1.07 | 0.83 | 1.14 |
| — | -4.9% | -27.7% | +10.4% | -12.1% | -4.5% | +47.3% | +13.2% | -10.6% | +31.9% | +26.4% | +12.4% | +15.9% | |
| P/B Ratio | 4.17 | 3.59 | 4.64 | 5.57 | 5.74 | 5.90 | 9.35 | 9.30 | 13.92 | 24.91 | 28.34 | 19.22 | 659.46 |
| — | -39.3% | -50.4% | -40.1% | -58.8% | -76.3% | -67.0% | -51.6% | -97.9% | — | -62.3% | +60.7% | +12660.7% | |
| P/FCF | — | — | 119.47 | — | 5.90 | — | 21.39 | — | 7.31 | 4.11 | — | — | 8.46 |
| — | — | +458.6% | — | -19.2% | — | — | — | -13.6% | -23.1% | — | — | -26.6% | |
| EV / EBITDA | 8.62 | 12.00 | 12.79 | 6.85 | 8.77 | 12.28 | 14.22 | 6.35 | 9.62 | 11.98 | 15.51 | 7.23 | 11.75 |
| — | -2.3% | -10.0% | +7.8% | -8.9% | +2.5% | -8.3% | -12.1% | -18.1% | -41.4% | — | -97.2% | — | |
| EV / EBIT | 14.81 | 30.80 | 35.03 | 8.98 | 29.41 | 31.42 | 23.17 | 8.99 | 16.37 | 23.48 | 62.26 | 10.10 | 21.64 |
| — | -2.0% | +51.2% | -0.1% | +79.6% | +33.8% | -62.8% | -11.0% | -24.3% | -99.1% | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Norwegian Cruise Line Holdings Ltd.'s operating margin was 10.0% in Q1 2026, up 1.7 pp QoQ and up 0.5 pp YoY. The trailing four-quarter average of 15.2% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 5.6% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.0% | 40.9% | 41.0% | 47.1% | 42.1% | 38.7% | 38.0% | 45.2% | 38.7% | 36.7% | 33.5% | 41.5% | 37.3% |
| — | +5.6% | +7.9% | +4.2% | +8.9% | +5.5% | +13.6% | +8.7% | +3.8% | +23.4% | +69.6% | +78.2% | +288.5% | |
| Operating Margin | 16.2% | 10.0% | 8.3% | 25.5% | 16.8% | 9.4% | 10.2% | 24.6% | 14.4% | 10.0% | 6.3% | 20.6% | 12.4% |
| — | +5.8% | -18.3% | +3.6% | +16.9% | -5.2% | +62.7% | +19.3% | +16.5% | +1594.2% | +133.8% | +280.0% | +137.0% | |
| Net Margin | 4.3% | 4.5% | 0.6% | 14.3% | 1.2% | -1.9% | 12.1% | 16.9% | 6.9% | 0.8% | -5.4% | 13.6% | 3.9% |
| — | +337.1% | -94.7% | -15.7% | -82.7% | -339.2% | +325.1% | +24.1% | +76.4% | +109.1% | +83.1% | +174.6% | +109.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.3% | 4.5% | 0.6% | 22.3% | 2.0% | -2.8% | 19.9% | 51.9% | 31.0% | 5.2% | -28.8% | 152.4% | 565.8% |
| — | +259.1% | -96.7% | -57.1% | -93.5% | -154.2% | +169.0% | -65.9% | -94.5% | — | +86.0% | +435.8% | +1438.2% | |
| ROA | 2.0% | 0.5% | 0.1% | 1.9% | 0.1% | -0.2% | 1.3% | 2.4% | 0.8% | 0.1% | -0.5% | 1.8% | 0.5% |
| — | +331.7% | -95.0% | -19.6% | -82.9% | -320.8% | +332.9% | +30.4% | +75.8% | +110.2% | +78.6% | +217.6% | +117.5% | |
| ROIC | 7.5% | 1.0% | 0.8% | 3.4% | 2.0% | 1.0% | 1.1% | 3.7% | 1.9% | 1.2% | 0.7% | 3.0% | 1.6% |
| — | +0.8% | -27.0% | -9.8% | +7.7% | -14.4% | +66.9% | +26.2% | +16.6% | +1757.7% | +141.5% | +370.3% | +168.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Norwegian Cruise Line Holdings Ltd.'s Debt/EBITDA ratio is 30.7x — elevated, raising questions about debt serviceability. The current ratio has improved 11.9% YoY to 0.21x, strengthening the short-term liquidity position. Debt/Equity has declined for 5 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.61 | 6.23 | 6.61 | 7.00 | 9.30 | 9.88 | 9.19 | 11.81 | 19.39 | 37.97 | 46.74 | 31.63 | 903.85 |
| — | -36.9% | -28.1% | -40.7% | -52.1% | -74.0% | -80.3% | -62.7% | -97.9% | — | -76.5% | -9.1% | +6054.3% | |
| Debt / EBITDA | 5.33 | 30.70 | 30.32 | 15.34 | 21.85 | 31.00 | 28.39 | 14.41 | 22.99 | 29.67 | 39.31 | 18.55 | 28.24 |
| — | -1.0% | +6.8% | +6.4% | -5.0% | +4.5% | -27.8% | -22.3% | -18.6% | -50.0% | — | -97.7% | — | |
| Current Ratio | 0.21 | 0.21 | 0.21 | 0.19 | 0.18 | 0.19 | 0.17 | 0.20 | 0.24 | 0.24 | 0.22 | 0.30 | 0.32 |
| — | +11.9% | +19.5% | -0.3% | -23.0% | -22.0% | -19.6% | -34.5% | -24.9% | -16.5% | -41.3% | -35.5% | -48.9% | |
| Quick Ratio | 0.18 | 0.18 | 0.18 | 0.17 | 0.16 | 0.16 | 0.15 | 0.17 | 0.22 | 0.22 | 0.19 | 0.27 | 0.29 |
| — | +13.4% | +23.3% | -3.3% | -26.6% | -25.2% | -22.2% | -36.0% | -25.9% | -17.5% | -43.9% | -37.7% | -50.8% | |
| Interest Coverage | 0.71 | 1.16 | 1.03 | 2.32 | 1.18 | 0.81 | 1.61 | 3.75 | 1.92 | 1.08 | 0.45 | 2.95 | 1.49 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying NCLH stock.
Norwegian Cruise Line Holdings Ltd.'s current P/E is 22.3x. The average P/E over the last 4 quarters is 72.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Norwegian Cruise Line Holdings Ltd.'s current operating margin is 16.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Norwegian Cruise Line Holdings Ltd.'s business trajectory between earnings reports.