Is NCLH a good stock to buy right now?

Based on our 6-factor quantitative model, Norwegian Cruise Line Holdings Ltd. (NCLH) receives a "Reduce" rating with a composite score of 47.0/100. It is ranked #2,691 out of 4,446 stocks. Key factor scores: Quality 50/100, Value 76/100, Momentum 40/100. The timing signal is "Bearish". This is quantitative analysis only — not investment advice.

What is the stock rating for NCLH?

Norwegian Cruise Line Holdings Ltd. (NCLH) has a "Reduce" rating and 2-star score. The composite score of 47.0 ranks it #2,691 among 4,446 U.S. stocks. Ratings are updated weekly using academically-proven factor models.

What sector is NCLH in?

Norwegian Cruise Line Holdings Ltd. operates in the Industrials sector (Transportation industry) with a market cap of $8.83 billion. It is classified as a mid-cap stock.

Does NCLH pay a dividend?

NCLH does not currently pay a regular dividend. The company may be reinvesting profits for growth.

What is NCLH's P/E ratio?

NCLH has a trailing P/E ratio of 9.65x. The Industrials sector average is 28.3x. This below-average P/E may indicate the stock is undervalued.

How profitable is NCLH?

NCLH's quality factor score is 50/100. Gross margin: 43.3%. ROE: 40.0% vs sector average 8.9%. Margins are moderate to low, reflecting competitive market dynamics.

How is NCLH valued compared to peers?

NCLH's value factor score is 76/100 (higher = cheaper). Key multiples: P/E 9.7x, EV/EBITDA 2.8x. The stock appears attractively valued versus peers.

What is NCLH's debt level?

NCLH's debt-to-equity ratio is 920%. Sector average: 70%. Elevated leverage increases credit risk.

NCLH has a beta of 1.88, meaning it amplifies market moves. Stability score: 40/100.

Does NCLH have high short interest?

NCLH's short interest factor score is 42/100 (higher = less short selling). Elevated short interest may indicate bearish sentiment or short squeeze potential.

NCLH Stock Analysis: Top Mid-Cap Reduce (Score 47.0/100) | Blank Capital Research

Data Series	1D	5D	1M	YTD	1Y	3Y	5Y	10Y
NCLH	0.00%	+5.44%	-1.92%	-10.57%	+19.59%	-	-	-
Industry Proxy XLI	-0.39%	+4.73%	+0.88%	+10.57%	+38.89%	-	-	-
U.S. Market SPY	-0.07%	+3.60%	+0.34%	-0.36%	+29.52%	-	-	-
Alpha vs Market	+0.07%	+1.84%	-2.25%	-10.21%	-9.93%	-	-	-
Alpha vs Sector	+0.39%	+0.71%	-2.80%	-21.15%	-19.30%	-	-	-

Metric	NCLH	Benchmark
P/E Ratio	9.7x	-66%
EV/EBITDA	2.8x	-50%
Price / Book	3.9x

Stock Entity	Score▼	Quality	Value	Momentum	P/E Ratio	ROE	Gross Margin	Net Margin	Rev Growth	D/E Ratio	Market Cap	Compare
STNG Scorpio Tankers Inc.	64	43	96	73	-	93.3%	63.1%	53.8%	-	30.0x	$3.8B	VS
TNK TEEKAY TANKERS LTD.	62	50	97	71	6.4x	91.9%	67.0%	32.8%	-	0.0x	$2.5B	VS
TEN TSAKOS ENERGY NAVIGATION LTD	61	50	86	75	7.6x	42.1%	97.8%	22.6%	-	103.0x	$1.2B	VS
HAFN Hafnia Ltd	60	42	79	77	-	439.1%	48.5%	27.0%	-	0.0x	$3.8B	VS
TPH Tri Pointe Homes, Inc.	57	50	67	66	13.6x	8.8%	47.5%	7.9%	-26.0%	50.0x	$4.0B	VS
GLDD Great Lakes Dredge & Dock CORP	57	50	69	70	16.3x	13.5%	22.2%	8.1%	14.8%	73.0x	$1.1B	VS
SOBO South Bow Corp	57	39	79	66	22.0x	48.4%	82.3%	14.9%	-	219.0x	$6.8B	VS
IMPP Imperial Petroleum Inc./Marshall Islands	54	44	98	58	2.8x	47.7%	100.0%	34.0%	-19.7%	0.0x	$156M	VS
CCO Clear Channel Outdoor Holdings, Inc.	52	48	58	69	59.3x	-	53.4%	-0.3%	7.7%	-	$1.2B	VS
IMXI International Money Express, Inc.	52	50	73	52	11.6x	25.5%	0.0%	6.4%	-9.7%	221.0x	$476M	VS
NCLH Norwegian Cruise Line Holdings Ltd.	47	50	76	40	9.7x	40.0%	43.3%	7.6%	23.8%	920.0x	$8.8B

Key Ratio	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Gross Margin %	0.4%	0.4%	0.4%	0.4%	0.1%	-1.5%	-0.3%	0.4%	0.4%	0.4%	0.4%
Operating Margin %	0.2%	0.2%	0.2%	0.1%	-0.3%	-3.9%	-2.7%	0.2%	0.2%	0.2%	0.2%
EBITDA Margin %	0.3%	0.3%	0.3%	0.2%	-0.2%	-2.9%	-2.2%	0.3%	0.3%	0.3%	0.3%
Net Margin %	0.1%	0.0%	0.1%	0.0%	-0.5%	-7.0%	-3.1%	0.1%	0.2%	0.1%	0.1%
FCF Margin %	-15.5%	-	8.8%	-	-	-	-273.7%	2.9%	8.4%	4.0%	3.5%
ROE %	0.4%	0.2%	0.6%	0.6%	-33.1%	-1.9%	-0.9%	0.1%	0.2%	0.1%	0.1%
ROA %	0.0%	0.0%	0.0%	0.0%	-0.1%	-0.2%	-0.2%	0.1%	0.1%	0.1%	0.0%
ROIC %	9.9%	55.8%	8.1%	244.5%	-1,787.2%	-82.9%	-21.4%	7.1%	7.8%	7.0%	6.8%

Key Ratio

TTM

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

Gross Margin %

0.4%

0.1%

-1.5%

-0.3%

0.4%

Operating Margin %

0.2%

0.1%

-0.3%

-3.9%

-2.7%

0.2%

EBITDA Margin %

0.3%

0.2%

-0.2%

-2.9%

-2.2%

0.3%

Net Margin %

0.1%

0.0%

0.1%

0.0%

-0.5%

-7.0%

-3.1%

0.1%

0.2%

0.1%

FCF Margin %

-15.5%

8.8%

-273.7%

2.9%

8.4%

4.0%

3.5%

ROE %

0.4%

0.2%

0.6%

-33.1%

-1.9%

-0.9%

0.1%

0.2%

0.1%

ROA %

0.0%

-0.1%

-0.2%

0.1%

0.0%

ROIC %

9.9%

55.8%

8.1%

244.5%

-1,787.2%

-82.9%

-21.4%

7.1%

7.8%

7.0%

6.8%

Line Item	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
	$10.4B	$9.8B	$9.5B	$8.5B	$4.8B	$648M	$1.3B	$6.5B	$6.1B	$5.4B	$4.9B	$4.3B
	—	$5.6B	—	$5.5B	$4.3B	$1.6B	—	—	—	—	—	—
	$4.5B	$4.2B	$3.8B	$3.1B	$577M	-$960M	-$413M	$2.8B	$2.7B	$2.3B	$2.0B	$1.7B
Gross Margin	43.3%	42.6%	40.0%	36.0%	11.9%	-148.2%	-32.3%	43.3%	44.2%	43.2%	41.5%	38.9%
	—	$1.5B	—	$1.3B	$1.4B	$891M	—	—	—	—	—	—
Depreciation	—	$1.1B	$974M	$809M	$749M	$701M	$740M	$647M	$567M	$521M	$446M	$450M
Total Operating Expenses	—	$2.6B	—	$2.2B	$2.1B	$1.6B	—	—	—	—	—	—
	$2.1B	$1.6B	$1.5B	$931M	-$1.6B	-$2.6B	-$3.5B	$1.2B	$1.2B	$1.0B	$925M	$702M
EBIT	$2.1B	$1.6B	$1.5B	$931M	-$1.6B	-$2.6B	-$3.5B	$1.2B	$1.2B	$1.0B	$925M	$702M
EBITDA	$3.0B	$2.6B	$2.5B	$1.7B	-$802M	-$1.9B	-$2.8B	$1.8B	$1.8B	$1.6B	$1.4B	$1.1B
Operating Margin	19.1%	15.9%	15.5%	10.9%	-32.0%	-393.9%	-272.2%	18.2%	20.1%	19.4%	19.0%	16.2%
EBITDA Margin	29.0%	26.9%	26.3%	20.3%	-16.6%	-285.7%	-217.1%	28.3%	29.8%	28.9%	28.0%	25.5%
	—	—	$747M	$728M	$800M	$2.1B	$482M	$273M	$270M	$268M	$277M	$222M
	—	$429M	—	$163M	-$2.3B	-$4.5B	—	—	—	—	—	—
Income Tax Expense	—	$5M	-$137M	-$3M	-$7M	$5M	$12M	-$19M	$14M	$11M	$7M	$7M
	$884M	$423M	$910M	$166M	-$2.3B	-$4.5B	-$4.0B	$930M	$955M	$760M	$633M	$427M
Net Margin	7.6%	4.3%	9.6%	1.9%	-46.9%	-695.5%	-313.5%	14.4%	15.8%	14.1%	13.0%	9.8%
	$0.94	$0.94	$2.09	$0.39	$-5.41	$-12.33	$-15.75	$4.33	$4.28	$3.33	$2.79	$1.89
Diluted EPS	$0.94	$0.92	$2.09	$0.39	$-5.41	$-12.33	$-15.75	$4.33	$4.28	$3.33	$2.79	$1.89
Weighted Avg Basic	—	449M	—	424M	420M	365M	—	—	—	—	—	—
Weighted Avg Diluted	—	478M	—	427M	420M	365M	—	—	—	—	—	—

Line Item

TTM

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

$10.4B

$9.8B

$9.5B

$8.5B

$4.8B

$648M

$1.3B

$6.5B

$6.1B

$5.4B

$4.9B

$4.3B

—

$5.6B

—

$5.5B

$4.3B

$1.6B

—

$4.5B

$4.2B

$3.8B

$3.1B

$577M

-$960M

-$413M

$2.8B

$2.7B

$2.3B

$2.0B

$1.7B

Gross Margin

43.3%

42.6%

40.0%

36.0%

11.9%

-148.2%

-32.3%

43.3%

44.2%

43.2%

41.5%

38.9%

—

$1.5B

—

$1.3B

$1.4B

$891M

—

Depreciation

—

$1.1B

$974M

$809M

$749M

$701M

$740M

$647M

$567M

$521M

$446M

$450M

Total Operating Expenses

—

$2.6B

—

$2.2B

$2.1B

$1.6B

—

$2.1B

$1.6B

$1.5B

$931M

-$1.6B

-$2.6B

-$3.5B

$1.2B

$1.0B

$925M

$702M

EBIT

$2.1B

$1.6B

$1.5B

$931M

-$1.6B

-$2.6B

-$3.5B

$1.2B

$1.0B

$925M

$702M

EBITDA

$3.0B

$2.6B

$2.5B

$1.7B

-$802M

-$1.9B

-$2.8B

$1.8B

$1.6B

$1.4B

$1.1B

Operating Margin

19.1%

15.9%

15.5%

10.9%

-32.0%

-393.9%

-272.2%

18.2%

20.1%

19.4%

19.0%

16.2%

EBITDA Margin

29.0%

26.9%

26.3%

20.3%

-16.6%

-285.7%

-217.1%

28.3%

29.8%

28.9%

28.0%

25.5%

—

$747M

$728M

$800M

$2.1B

$482M

$273M

$270M

$268M

$277M

$222M

—

$429M

—

$163M

-$2.3B

-$4.5B

—

Income Tax Expense

—

$5M

-$137M

-$3M

-$7M

$5M

$12M

-$19M

$14M

$11M

$7M

$884M

$423M

$910M

$166M

-$2.3B

-$4.5B

-$4.0B

$930M

$955M

$760M

$633M

$427M

Net Margin

7.6%

4.3%

9.6%

1.9%

-46.9%

-695.5%

-313.5%

14.4%

15.8%

14.1%

13.0%

9.8%

$0.94

$2.09

$0.39

$-5.41

$-12.33

$-15.75

$4.33

$4.28

$3.33

$2.79

$1.89

Diluted EPS

$0.94

$0.92

$2.09

$0.39

$-5.41

$-12.33

$-15.75

$4.33

$4.28

$3.33

$2.79

$1.89

Weighted Avg Basic

—

449M

—

424M

420M

365M

—

Weighted Avg Diluted

—

478M

—

427M

420M

365M

—

Norwegian Cruise Line Holdings Ltd. (NCLH) Stock Analysis — April 2026 Rating, Price, and Forecast

Last updated: April 2026

Company Overview — What Does Norwegian Cruise Line Holdings Ltd. Do?

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various locations, including destinations in Scandinavia, Russia, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean. As of December 31, 2021, the company had 28 ships with approximately 59,150 berths. It distributes its products through retail/travel advisor and onboard cruise sales channels, as well as meetings, incentives, and charters. Norwegian Cruise Line Holdings Ltd. was founded in 1966 and is based in Miami, Florida. Norwegian Cruise Line Holdings Ltd. (NCLH) is classified as a mid-cap stock in the Industrials sector, specifically within the Transportation industry. The company is led by CEO Frank Jose Del Rio and employs approximately 38,900 people, headquartered in Miami, Florida. With a market capitalization of $8.8B, NCLH is one of the notable companies in the Industrials sector.

Norwegian Cruise Line Holdings Ltd. (NCLH) Stock Rating — Reduce (April 2026)

As of April 2026, Norwegian Cruise Line Holdings Ltd. receives a Reduce rating with a composite score of 47.0/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.NCLH ranks #2,691 out of 4,446 stocks in our coverage universe. Within the Industrials sector, Norwegian Cruise Line Holdings Ltd. ranks #439 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

NCLH Stock Price and 52-Week Range

Norwegian Cruise Line Holdings Ltd. (NCLH) currently trades at $19.91. The stock lost $0.05 (0.3%) in the most recent trading session. The 52-week high for NCLH is $27.18, which means the stock is currently trading -26.7% from its annual peak. The 52-week low is $14.21, putting the stock 40.1% above its annual trough. Recent trading volume was 11.7M shares, indicating strong institutional interest and high liquidity.

Is NCLH Overvalued or Undervalued? — Valuation Analysis

Norwegian Cruise Line Holdings Ltd. (NCLH) carries a value factor score of 76/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 9.65x, compared to the Industrials sector average of 28.33x — a discount of 66%. The price-to-book ratio stands at 3.86x, versus the sector average of 2.23x. The price-to-sales ratio is 0.82x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, NCLH trades at 2.83x EV/EBITDA, versus 5.70x for the sector.

Based on these multiples, Norwegian Cruise Line Holdings Ltd. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.

Norwegian Cruise Line Holdings Ltd. Profitability — ROE, Margins, and Quality Score

Norwegian Cruise Line Holdings Ltd. (NCLH) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 40.0%, compared to the Industrials sector average of 8.9%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 3.9% versus the sector average of 3.3%.

On a margin basis, Norwegian Cruise Line Holdings Ltd. reports gross margins of 43.3%, compared to 35.8% for the sector. The operating margin is 19.1% (sector: 6.2%). Net profit margin stands at 7.6%, versus 3.9% for the average Industrials stock. Revenue growth is running at 23.8% on a trailing basis, compared to 6.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.

NCLH Debt, Balance Sheet, and Financial Health

Norwegian Cruise Line Holdings Ltd. has a debt-to-equity ratio of 920.0%, compared to the Industrials sector average of 70.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 0.21x, which may signal near-term liquidity tightness. Total debt on the balance sheet is $14.52B. Cash and equivalents stand at $167M.

NCLH has a beta of 1.88, meaning it is more volatile than the broader market — a $10,000 investment in NCLH would be expected to move 88.1% more than the S&P 500 on any given day. The stability factor score for Norwegian Cruise Line Holdings Ltd. is 40/100, reflecting average volatility within the normal range for its sector.

Norwegian Cruise Line Holdings Ltd. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Norwegian Cruise Line Holdings Ltd. reported revenue of $10.39B and earnings per share (EPS) of $0.94. Net income for the quarter was $884M. Gross margin was 43.3%. Operating income came in at $2.07B.

In FY 2025, Norwegian Cruise Line Holdings Ltd. reported revenue of $9.83B and earnings per share (EPS) of $0.94. Net income for the quarter was $423M. Gross margin was 42.6%. Revenue grew 3.7% year-over-year compared to FY 2024. Operating income came in at $1.56B.

In Q3 2025, Norwegian Cruise Line Holdings Ltd. reported revenue of $2.94B and earnings per share (EPS) of $0.93. Net income for the quarter was $419M. Gross margin was 47.1%. Revenue grew 4.7% year-over-year compared to Q3 2024. Operating income came in at $749M.

In Q2 2025, Norwegian Cruise Line Holdings Ltd. reported revenue of $2.52B and earnings per share (EPS) of $0.07. Net income for the quarter was $30M. Gross margin was 42.1%. Revenue grew 6.1% year-over-year compared to Q2 2024. Operating income came in at $424M.

Over the past 8 quarters, Norwegian Cruise Line Holdings Ltd. has demonstrated a growth trajectory, with revenue expanding from $2.37B to $10.39B. Investors analyzing NCLH stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

NCLH Dividend Yield and Income Analysis

Norwegian Cruise Line Holdings Ltd. (NCLH) does not currently pay a dividend. This is common among smaller companies in the Transportation industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

NCLH Momentum and Technical Analysis Profile

Norwegian Cruise Line Holdings Ltd. (NCLH) has a momentum factor score of 40/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 42/100 reflects moderate short selling activity.

NCLH vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, Norwegian Cruise Line Holdings Ltd. (NCLH) ranks #439 out of 752 stocks based on the Blank Capital composite score. This places NCLH in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing NCLH against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full NCLH vs S&P 500 (SPY) comparison to assess how Norwegian Cruise Line Holdings Ltd. stacks up against the broader market across all factor dimensions.

NCLH Next Earnings Date

No upcoming earnings date has been announced for Norwegian Cruise Line Holdings Ltd. (NCLH) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy NCLH? — Investment Thesis Summary

The quantitative profile for Norwegian Cruise Line Holdings Ltd. suggests caution. The value score of 76/100 suggests attractive pricing relative to fundamentals.

In summary, Norwegian Cruise Line Holdings Ltd. (NCLH) earns a Reduce rating with a composite score of 47.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on NCLH stock.

Related Resources for NCLH Investors

Explore more research and tools: NCLH vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare NCLH head-to-head with peers: NCLH vs SOBO, NCLH vs TEN, NCLH vs GLDD.

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Norwegian Cruise Line Holdings Ltd. (NCLH) Stock Analysis — April 2026 Rating, Price, and Forecast

Company Overview — What Does Norwegian Cruise Line Holdings Ltd. Do?

Norwegian Cruise Line Holdings Ltd. (NCLH) Stock Rating — Reduce (April 2026)

NCLH Stock Price and 52-Week Range

Is NCLH Overvalued or Undervalued? — Valuation Analysis

Norwegian Cruise Line Holdings Ltd. Profitability — ROE, Margins, and Quality Score

NCLH Debt, Balance Sheet, and Financial Health

Norwegian Cruise Line Holdings Ltd. Revenue and Earnings History — Quarterly Trend

NCLH Dividend Yield and Income Analysis

NCLH Momentum and Technical Analysis Profile

NCLH vs Competitors — Industrials Sector Ranking and Peer Comparison

NCLH Next Earnings Date

Should You Buy NCLH? — Investment Thesis Summary

Related Resources for NCLH Investors

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Institutional Benchmarks

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