Norwegian Cruise Line HoldingsNCLHEarnings & Financial Report
Norwegian Cruise Line (NCL) is an American cruise line founded in Norway in 1966, headquartered in Miami-Dade County, Florida, and incorporated in the Bahamas. It is the fourth-largest cruise line in the world by passengers, controlling about 8.6% of the total worldwide share of the cruise market by passengers as of 2021. It is wholly owned by parent company Norwegian Cruise Line Holdings.
NCLH Q1 FY2026 Key Financial Metrics
Revenue
$2.3B
Gross Profit
N/A
Operating Profit
$232.9M
Net Profit
$104.7M
Gross Margin
N/A
Operating Margin
10.0%
Net Margin
4.5%
YoY Growth
9.6%
EPS
$0.23
Norwegian Cruise Line Holdings Q1 FY2026 Financial Summary
Norwegian Cruise Line Holdings reported revenue of $2.3B (up 9.6% YoY) for Q1 FY2026, with a net profit of $104.7M (4.5% margin).
Key Financial Metrics
| Total Revenue | $2.3B |
|---|---|
| Net Profit | $104.7M |
| Gross Margin | N/A |
| Operating Margin | 10.0% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
Norwegian Cruise Line Holdings Q1 FY2026 revenue of $2.3B breaks down across 2 segments, led by Passenger ticket at $1.5B (66.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Passenger ticket | $1.5B | 66.2% |
| Onboard and other | $788.9M | 33.8% |
Norwegian Cruise Line Holdings Annual Revenue by Year
Norwegian Cruise Line Holdings annual revenue history includes year-by-year totals (for example, 2025 revenue was $9.8B).
Norwegian Cruise Line Holdings Quarterly Revenue & Net Profit History
Norwegian Cruise Line Holdings results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $2.3B | +9.6% | $104.7M | 4.5% |
| Q4 FY2025 | $2.2B | +6.4% | $14.3M | 0.6% |
| Q3 FY2025 | $2.9B | +4.7% | $419.3M | 14.3% |
| Q2 FY2025 | $2.5B | +6.1% | $30.0M | 1.2% |
| Q1 FY2025 | $2.1B | -2.9% | $-40.3M | -1.9% |
| Q4 FY2024 | $2.1B | +6.2% | $254.5M | 12.1% |
| Q3 FY2024 | $2.8B | +10.7% | $474.9M | 16.9% |
| Q2 FY2024 | $2.4B | +7.6% | $163.4M | 6.9% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.37B | $2.81B | $2.11B | $2.13B | $2.52B | $2.94B | $2.24B | $2.33B |
| YoY Growth | 7.6% | 10.7% | 6.2% | -2.9% | 6.1% | 4.7% | 6.4% | 9.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $20.11B | $19.79B | $19.97B | $21.35B | $21.60B | $22.21B | $22.54B | $23.79B |
| Liabilities | $19.42B | $18.65B | $18.54B | $19.94B | $20.03B | $20.02B | $20.33B | $21.36B |
| Equity | $693.1M | $1.14B | $1.43B | $1.42B | $1.57B | $2.19B | $2.21B | $2.43B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $670.9M | $172.5M | $399.3M | $679.2M | $714.9M | $236.6M | $459.1M | $811.5M |