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Norwegian Cruise Line Holdings Ltd. NCLH Q3 2025 earnings

Reported November 4, 2025 · Before market open

Revenue$2.9BBeat by $594.3M
EPS$1.20Beat by $0.04
Revenue estimate$2.3B
EPS estimate$1.16

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$2.9B
EPS estimate$0.89

Financials

Q3 2025

Income statement

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Revenue$2.9B+4.7%
Gross profit$1.4B+9.1%
Operating income$749.4M+8.4%
Net income$419.3M-11.7%
EPS (diluted)$0.86-9.5%

Balance sheet

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Cash & equivalents$166.8M-49.8%
Total debt$14.5B+8.3%
Total equity$2.2B+93.2%
Total assets$22.2B+12.3%

Cash flow

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Operating cash flow$236.6M+37.1%
CapEx$963.1M+162%
Free cash flow-$726.5M—

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$11.21B+25.7%
Enterprise value$25.6B+16.2%
P/E16.9×—
P/S1.2×+0.2×

Profitability

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Gross margin42%+2.9pp
Operating margin16.4%+1.7pp
Net margin6.8%—

Returns & leverage

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Return on equity39.9%—
Debt / equity6.6×-5.2×
Current ratio0.2×0.0×

Segments

By geography

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North America$1.5B+11.2%
Europe$1.3B-6.3%
Asia Pacific$124.8M+148%
Other Country$891.0K-43.9%

By product

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Passenger$2.0B+5.4%
Onboard And Other$888.2M+3.1%

By segment

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Single Reportable$2.9B+4.7%

FAQ

When did Norwegian Cruise Line Holdings Ltd. report Q3 2025 earnings?
Norwegian Cruise Line Holdings Ltd. (NCLH) reported Q3 2025 earnings on November 4, 2025 before market open.
What were Norwegian Cruise Line Holdings Ltd.'s Q3 2025 revenue and EPS?
Norwegian Cruise Line Holdings Ltd. reported revenue of $2.9B and eps of $1.20 for Q3 2025.
Did Norwegian Cruise Line Holdings Ltd. beat estimates in Q3 2025?
Revenue beat the consensus estimate of $2.3B by $594.3M. EPS beat the consensus estimate of $1.16 by $0.04.
How did Norwegian Cruise Line Holdings Ltd.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 4.7% from $2.8B a year earlier and eps grew 21.2% from $0.99.
Where can I find Norwegian Cruise Line Holdings Ltd.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001171843-25-006936) and the 10-Q periodic report (0001104659-25-106057) directly on SEC EDGAR. The filing index links above go to sec.gov.