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Norwegian Cruise Line Holdings $NCLH

Consumer Discretionary · Hotels, Resorts & Cruise Lines · NYSE/NASDAQ

S&P 500 Russell 1000 Florida

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$15.78

+0.54 (+3.54%)

As of Oct 20, 2026, 12:08 PM EDT · cached

Price history

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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Aug 18, 2026, the first target we tracked for NCLH.

Key facts

52-week range (closes): $14.12 – $25.02 Lowest close Sep 18, 2026, highest Feb 26, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings: Oct 29, 2026, before the open · EPS forecast $0.84 Nasdaq earnings calendar, as of Oct 20, 2026
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Oct 13, 2017, replacing Level 3 Communications (LVLT) · CenturyLink acquired Level 3 Communications. · All S&P 500 changes
Analyst coverage: 2 open price targets from 2 firms: Mizuho, Stifel Approved targets tracked here; see the analyst section below

Norwegian Cruise Line Holdings (NCLH) is trading up at $15.78 (+3.54%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Consumer Discretionary sector.

Analyst price targets on NCLH

Current price targets from 2 firms average $19.5, ranging from $17 to $22 — 24% above the current $15.8. Each is tracked to its date and scored the same way a member's call is.

Stifel $14.9 → $22 by Oct 2027 Buy Oct 14, 2026 via Investing.com · Stifel's track record
Mizuho $17.6 → $17 by Aug 2027 Neutral Aug 18, 2026 via Investing.com · Mizuho's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Norwegian Cruise Line Holdings revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Norwegian Cruise Line Holdings annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$4.87B	$5.40B	$6.06B	$6.46B	$1.28B	$648.0M	$4.84B	$8.55B	$9.48B	$9.83B
Growth (year over year)	+12.2%	+10.7%	+12.2%	+6.7%	−80.2%	−49.4%	+647.5%	+76.5%	+10.9%	+3.7%
Gross profit	—	—	—	$2.80B	−$413.2M	−$960.1M	$576.7M	$3.08B	$3.79B	$4.19B
Gross margin	—	—	—	43.3%	−32.3%	−148.2%	11.9%	36.0%	40.0%	42.6%
Operating income	$925.5M	$1.05B	$1.22B	$1.18B	−$3.48B	−$2.55B	−$1.55B	$930.9M	$1.47B	$1.56B
Operating margin	19.0%	19.4%	20.1%	18.2%	−272.2%	−393.9%	−32.0%	10.9%	15.5%	15.9%
Net income	$633.1M	$759.9M	$954.8M	$930.2M	−$4.01B	−$4.51B	−$2.27B	$166.2M	$910.3M	$423.2M
Net margin	13.0%	14.1%	15.8%	14.4%	−313.5%	−695.5%	−46.9%	1.9%	9.6%	4.3%
EPS (diluted)	$2.78	$3.31	$4.25	$4.30	−$15.75	−$12.33	−$5.41	$0.39	$1.89	$0.92
Balance sheet
Cash and equivalents	$128.3M	$176.2M	$163.9M	$252.9M	$3.30B	$1.51B	$947.0M	$402.4M	$190.8M	$209.9M
Total assets	$13.0B	$14.1B	$15.2B	$16.7B	$18.4B	$18.7B	$18.6B	$19.5B	$20.0B	$22.5B
Total liabilities	$8.44B	$8.35B	$9.24B	$10.2B	$14.0B	$16.3B	$18.5B	$19.2B	$18.5B	$20.3B
Long-term debt	$5.84B	$5.69B	$5.81B	$6.06B	$11.7B	$11.6B	$12.6B	$12.3B	$11.8B	$13.7B
Shareholders' equity	$4.54B	$5.75B	$5.96B	$6.52B	$4.35B	$2.43B	$68.6M	$300.8M	$1.43B	$2.21B
Cash flow
Operating cash flow	$1.26B	$1.60B	$2.08B	$1.82B	−$2.56B	−$2.47B	$210.0M	$2.01B	$2.05B	$2.09B
Capital expenditure	$1.09B	$1.37B	$1.57B	$1.64B	$946.5M	$752.8M	$1.78B	$2.75B	$1.21B	$3.26B
Free cash flow	$172.0M	$229.0M	$508.4M	$185.4M	−$3.50B	−$3.22B	−$1.57B	−$744.6M	$838.9M	−$1.17B
Share buybacks	$50.0M	—	$664.8M	$349.9M	—	—	—	—	—	—

RevenueNet incomeNet margin (right axis, %)

Norwegian Cruise Line Holdings quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$2.81B	$2.11B	$2.13B	$2.52B	$2.94B	$2.24B	$2.33B	$2.64B
Growth (year over year)	+10.7%	+6.2%	−2.9%	+6.1%	+4.7%	+6.4%	+9.6%	+4.9%
Gross profit	$1.27B	$801.8M	$823.6M	$1.06B	$1.38B	$920.9M	$953.3M	$1.05B
Gross margin	45.2%	38.0%	38.7%	42.1%	47.1%	41.0%	40.9%	39.9%
Operating income	$691.2M	$214.7M	$200.9M	$423.8M	$749.4M	$186.6M	$232.9M	$363.3M
Operating margin	24.6%	10.2%	9.4%	16.8%	25.5%	8.3%	10.0%	13.8%
Net income	$474.9M	$254.5M	−$40.3M	$30.0M	$419.3M	$14.3M	$104.7M	$222.6M
Net margin	16.9%	12.1%	−1.9%	1.2%	14.3%	0.6%	4.5%	8.4%
EPS (diluted)	$0.95	$0.55	−$0.09	$0.07	$0.86	$0.08	$0.23	$0.48
Balance sheet
Cash and equivalents	$332.5M	$190.8M	$184.4M	$184.0M	$166.8M	$209.9M	$185.0M	$218.1M
Total assets	$19.8B	$20.0B	$21.4B	$21.6B	$22.2B	$22.5B	$23.8B	$24.0B
Total liabilities	$18.7B	$18.5B	$19.9B	$20.0B	$20.0B	$20.3B	$21.4B	$21.4B
Long-term debt	$11.8B	$11.8B	$12.9B	$12.6B	$13.6B	$13.7B	$14.0B	$13.9B
Shareholders' equity	$1.14B	$1.43B	$1.42B	$1.57B	$2.19B	$2.21B	$2.43B	$2.57B
Cash flow
Operating cash flow	$172.5M	$399.3M	$679.2M	$714.9M	$236.6M	$459.1M	$811.5M	$602.6M
Capital expenditure	$368.0M	$243.4M	$1.53B	$333.6M	$963.1M	$437.6M	$1.44B	$457.7M
Free cash flow	−$195.5M	$155.8M	−$846.0M	$381.2M	−$726.5M	$21.5M	−$625.2M	$144.9M

From Norwegian Cruise Line Holdings's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Norwegian Cruise Line Holdings vs the Consumer Discretionary sector and the S&P 500

Norwegian Cruise Line Holdings's latest reported figures next to the median of the other 46 S&P 500 Consumer Discretionary companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Norwegian Cruise Line Holdings compared with the median Consumer Discretionary company and the median S&P 500 company
Measure	Norwegian Cruise Line Holdings	Consumer Discretionary (46 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+3.7%	+5.2%	+7.0%
Net margin, latest fiscal year	4.3%	10.2%	13.0%
Share price change, 1 year	−34.5%	−9.2%	+5.9%

Norwegian Cruise Line Holdings: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Norwegian Cruise Line Holdings included, are the last regular-session prices of October 19, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 46/496, net margin 46/496, 1-year price change 46/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Norwegian Cruise Line Holdings

Norwegian Cruise Line Holdings Ltd. (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.

Source: Wikipedia — Norwegian Cruise Line Holdings