NCLH
Norwegian Cruise Line Holdings Ltd.
NYSEUSDEQUITY
Consumer Cyclical
DELAYED
Last price
17.27
▲ 0.52 (3.10%)
MARKET · —
Price
Open
16.91
Prev close
16.75
Day high
17.46
Day low
16.87
Volume
11.71M
Market cap
$7.92B
P/E (TTM)
10.14
52W range
14.53 – 27.18
Trailing performance
Returnvs SPY
1W
-9.31%
-7.9%
1M
-7.86%
-11.6%
3M
+4.68%
+1.6%
6M
-29.08%
-40.1%
YTD
-22.76%
-35.0%
1Y
-27.71%
-47.7%
3Y
+0.70%
-73.5%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$7.92B
Enterprise value$23.68B
Revenue (TTM)$10.15B
Gross profit$4.31B
EBITDA$2.59B
Net income$760.77M
EPS (TTM)$1.70
Free cash flow$-1.68B
Total cash$218.10M
Total debt$15.98B
Book value / share$5.60
Shares outstanding459.19M
Float455.35M
Short % of float20.74%
Dividend yield—
Beta (5Y)1.90
Valuation & profitability ratios
Trailing P/E10.14
Forward P/E10.22
PEG ratio1.56
Price / sales—
Price / book3.08
EV / revenue2.33
EV / EBITDA9.13
Gross margin42.46%
Operating margin14.04%
Profit margin7.49%
Return on equity36.73%
Return on assets4.25%
Debt / equity621.05
Current ratio0.20
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Total revenue | $9.83B | $9.48B | $8.55B | $4.84B |
| Cost of revenue | $0 | $0 | $0 | $0 |
| Gross profit | $0 | $0 | $0 | $0 |
| R&D | — | — | — | — |
| SG&A | — | — | — | — |
| Operating income | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax provision | $0 | $0 | $0 | $0 |
| Net income | $423.25M | $910.26M | $166.18M | -$2.27B |
| EBIT | $0 | $0 | $0 | $0 |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Cash & equivalents | — | — | — | — |
| Short-term investments | — | — | — | — |
| Net receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Total current assets | — | — | — | — |
| Total assets | — | — | — | — |
| Total current liabilities | — | — | — | — |
| Long-term debt | — | — | — | — |
| Total liabilities | — | — | — | — |
| Retained earnings | — | — | — | — |
| Shareholder equity | — | — | — | — |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Net income | $423.25M | $910.26M | $166.18M | -$2.27B |
| Depreciation | — | — | — | — |
| Change in working capital | — | — | — | — |
| Operating cash flow | — | — | — | — |
| Capital expenditure | — | — | — | — |
| Investing cash flow | — | — | — | — |
| Dividends paid | — | — | — | — |
| Buybacks | — | — | — | — |
| Financing cash flow | — | — | — | — |
| Net change in cash | — | — | — | — |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.39 | 0.48 | +22.8% |
| Mar 2026 | 0.14 | 0.23 | +61.3% |
| Dec 2025 | 0.27 | 0.28 | +5.5% |
| Sep 2025 | 1.16 | 1.20 | +3.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.90 | 18 | $2.86B | -2.7% |
| Next quarter | -0.08 | 18 | $2.20B | -1.8% |
| Current year | 1.53 | 23 | $10.04B | +2.1% |
| Next year | 1.69 | 25 | $10.58B | +5.5% |
Analyst targets & ownership
Mean target$20.68
High target$32.00
Low target$15.00
Implied upside19.75%
Analyst count25
ConsensusBUY
Strong buy / Buy1 / 9
Hold17
Sell / Strong sell0 / 0
Held by insiders0.55%
Held by institutions104.42%
Institutions holding865
Price targets, consensus spread, insider and institutional ownership.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
2.51M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Jun 2, 26 | PAGLIUCA STEPHEN G Director |
BUY | 1.38M | $24.99M | Direct |
| May 22, 26 | CHIDSEY JOHN W Chief Executive Officer |
BUY | 153.00K | $2.50M | Direct |
| May 20, 26 | COHEN JONATHAN Z Director |
BUY | 30.00K | $474.90K | Direct |
| May 19, 26 | CIL JOSE E Director |
BUY | 15.00K | $225.35K | Indirect |
| May 11, 26 | MACDONALD BRIAN P Director |
BUY | 15.00K | $248.10K | Direct |
| May 7, 26 | BYNG-THORNE ZILLAH Director |
BUY | 29.47K | $521.39K | |
| May 7, 26 | LANSBERRY KEVIN ALLEN Director |
BUY | 11.40K | $196.99K | Direct |
| Apr 13, 26 | CRUZ ALEX Director |
STOCK | 8.91K | $0 | Direct |
| Apr 13, 26 | LANSBERRY KEVIN ALLEN Director |
STOCK | 8.91K | $0 | Direct |
| Apr 13, 26 | PAGLIUCA STEPHEN G Director |
STOCK | 8.91K | $0 | Direct |
| Apr 13, 26 | COHEN JONATHAN Z Director |
STOCK | 8.91K | $0 | Direct |
| Apr 13, 26 | MACDONALD BRIAN P Director |
STOCK | 8.91K | $0 | Direct |
| Mar 26, 26 | CHIDSEY JOHN W Chief Executive Officer |
STOCK | 967.25K | $0 | Direct |
| Mar 6, 26 | KAZLAUSKAS MARC Officer |
STOCK | 54.86K | $1.10M | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ASHBY FAYE L |
Officer | 152.08K | Stock Award(Grant) |
BYNG-THORNE ZILLAH |
Director | — | Purchase |
CHIDSEY JOHN W |
Chief Executive Officer | 1.14M | Purchase |
DAHLGREN PATRIK |
Officer | 240.53K | Stock Award(Grant) |
DAVID STELLA JULIE |
Director | 116.64K | Stock Award(Grant) |
FARKAS DANIELS S. |
General Counsel | 424.04K | Stock Award(Grant) |
HERRERA DAVID J |
Officer | 262.44K | Stock Award(Grant) |
KEMPA MARK A. |
Chief Financial Officer | 480.51K | Stock Award(Grant) |
PAGLIUCA STEPHEN G |
Director | 1.39M | Purchase |
SOMMER HARRY J |
Officer and Director | 720.73K | Purchase |
Moving averages & technicals
SMA 10
18.19
-5.03% from price
SMA 20
18.99
-9.23% from price
SMA 50
19.53
-11.72% from price
SMA 100
18.86
-8.43% from price
SMA 200
19.96
-13.63% from price
EMA 12
18.18
-5.00% from price
EMA 26
18.76
-7.95% from price
EMA 50
19.02
-9.19% from price
RSI (14)
38.7
Neutral
MACD (12,26,9)
-0.58
Hist -0.26
ATR (14)
0.68
3.92% of price
Realised vol 30D
52.8%
Annualised
Bollinger upper
21.32
20, 2σ
Bollinger lower
16.67
20, 2σ
50 / 200 cross
Death
19.53 vs 19.96
Trend bias
Below 200
-13.63%
Risk profile
Beta vs SPY
2.02
More volatile than market
Correlation to SPY
0.48
Loosely linked
Realised vol 30D
52.8%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-45.1%
Peak to trough
Max drawdown 5Y
-64.1%
Peak to trough
ATR 14
0.68
3.92% of price
Beta (reported)
1.90
5Y monthly, from filing
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
0.76
Call-heavy session
Put / call open interest
0.66
Positioning, not flow
Max pain
18.00
+4.4% from spot
ATM implied vol
47.7%
Nearest strike to spot
Skew (10% OTM)
-3.1%
Calls bid over puts
Call volume
1.82K
Contracts, this expiry
Put volume
1.39K
Contracts, this expiry
Heaviest call OI
19.00
796 contracts
Heaviest put OI
17.00
608 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Headlines
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PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.