Consumer Discretionary · Hotels, Resorts & Cruise Lines
Norwegian Cruise Line Holdings: revenue, profit and cash flow
In fiscal 2025, Norwegian Cruise Line Holdings had revenue of $9.83B, up 8.5% a year on average since 2015, and net income of $423M (4.3% of revenue). It has 108% more shares than in 2015.
Revenue, fiscal 2025
average annual revenue growth since 2015 · +3.7% vs 2024
- Ticker
- NCLH · NYSE
- Sector
- Consumer Discretionary
- Sub-industry
- Hotels, Resorts & Cruise Lines
- Headquarters
- Miami-Dade County, Florida
- Founded
- 2011 (1966)
- In the S&P 500 since
- October 13, 2017
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- Norwegian Cruise Line Holdings Ltd. · CIK 0001513761
Revenue and net income
Revenue went from $2.22B in 2011 to $9.83B in 2025. Net loss in 2020–2022.
Diluted earnings per share
Diluted EPS went from $0.71 in 2011 to $0.92 in 2025. Ten-year growth: −6.8% a year.
Shares outstanding
107.7% more shares in 2025 than in 2015 (230M → 478M): new shares outweighed buybacks.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was −$1.17B in 2025, −11.9% of revenue. Negative in 2013–2015, 2020–2023, 2025.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|
| 2025 | $9.83B | $423M | 4.3% | $0.92 | 478M | $2.09B | $3.26B | −$1.17B |
| 2024 | $9.48B | $910M | 9.6% | $1.89 | 515M | $2.05B | $1.21B | $839M |
| 2023 | $8.55B | $166M | 1.9% | $0.39 | 427M | $2.01B | $2.75B | −$745M |
| 2022 | $4.84B | −$2.27B | −46.9% | −$5.41 | 420M | $210M | $1.78B | −$1.57B |
| 2021 | $648M | −$4.51B | −695.5% | −$12.33 | 365M | −$2.47B | $753M | −$3.22B |
| 2020 | $1.28B | −$4.01B | −313.5% | −$15.75 | 255M | −$2.56B | $947M | −$3.5B |
| 2019 | $6.46B | $930M | 14.4% | $4.30 | 216M | $1.82B | $1.64B | $185M |
| 2018 | $6.06B | $955M | 15.8% | $4.25 | 224M | $2.08B | $1.57B | $508M |
| 2017 | $5.4B | $760M | 14.1% | $3.31 | 229M | $1.6B | $1.37B | $229M |
| 2016 | $4.87B | $633M | 13.0% | $2.78 | 228M | $1.26B | $1.09B | $172M |
| 2015 | $4.35B | $427M | 9.8% | $1.86 | 230M | $1.04B | $1.12B | −$79.8M |
| 2014 | $3.13B | $338M | 10.8% | $1.62 | 212M | $636M | $965M | −$329M |
| 2013 | $2.57B | $102M | 4.0% | $0.49 | 209M | $475M | $877M | −$402M |
| 2012 | $2.28B | $169M | 7.4% | $0.94 | 179M | $399M | $304M | $94.8M |
| 2011 | $2.22B | $127M | 5.7% | $0.71 | 179M | $357M | $185M | $172M |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.
About these figures
- No dividends per share in the filings data. Usually that means no dividend, but some companies report theirs in a form the data do not capture.
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Hotels, Resorts & Cruise Lines companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.