What are Norwegian Cruise Line Holdings Ltd.'s profit margins?

Norwegian Cruise Line Holdings Ltd. (NCLH) runs a 43.0% gross margin and a 15.9% operating margin, with a 5.7% net margin.

Where do Norwegian Cruise Line Holdings Ltd.'s ratios come from?

Every ratio is computed from Norwegian Cruise Line Holdings Ltd.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Norwegian Cruise Line Holdings Ltd. NCLH Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	43%+0.4pp	42.6%+0.6pp	42%+0.6pp	41.4%+0.9pp	40.5%+0.5pp
Operating margin	15.9%0.0pp	15.9%-0.5pp	16.4%+0.4pp	16%+0.6pp	15.4%-0.1pp
Net margin	5.7%+1.4pp	4.3%-2.5pp	6.8%—	——	——
Returns
Return on equity	29.5%+6.2pp	23.3%-16.6pp	39.9%—	——	——
Return on invested capital	9.7%+0.2pp	9.6%-0.8pp	10.3%-0.3pp	10.7%+0.6pp	10%+0.2pp
Efficiency
Asset turnover	0.4×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×
Liquidity
Current ratio	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Leverage
Debt-to-equity	6.2×-0.8×	7×+0.4×	6.6×-2.2×	8.8×-1.1×	9.9×+0.1×
Net debt / EBITDA	5.4×-0.2×	5.6×+0.1×	5.5×+0.1×	5.4×-0.3×	5.7×+0.1×
Per Share
Book value per share	$5.22+12.8%	$4.63+4.6%	$4.42+26.3%	$3.50+9.1%	$3.21+16.0%
Valuation
Market capitalization	$8.52B-16.2%	$10.16B-9.4%	$11.21B+29.4%	$8.67B+3.9%	$8.34B-26.3%
Price / earnings	15×-9.0×	24×+7.1×	16.9×—	——	——
Price / sales	0.8×-0.2×	1×-0.1×	1.2×+0.3×	0.9×0.0×	0.9×-0.3×
Price / book	3.5×-1.1×	4.6×-0.5×	5.1×-0.4×	5.5×-0.4×	5.9×-2.0×
EV / EBITDA	8.4×-0.9×	9.4×-0.4×	9.8×+1.0×	8.8×-0.3×	9.1×-1.1×

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Questions, answered.

What are Norwegian Cruise Line Holdings Ltd.'s profit margins?: Norwegian Cruise Line Holdings Ltd. (NCLH) runs a 43.0% gross margin and a 15.9% operating margin, with a 5.7% net margin.
Where do Norwegian Cruise Line Holdings Ltd.'s ratios come from?: Every ratio is computed from Norwegian Cruise Line Holdings Ltd.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.