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Side-by-side financial comparison of Eastman Chemical Company (EMN) and Norwegian Cruise Line Holdings (NCLH). Click either name above to swap in a different company.
Norwegian Cruise Line Holdings is the larger business by last-quarter revenue ($2.2B vs $2.0B, roughly 1.1× Eastman Chemical Company). Eastman Chemical Company runs the higher net margin — 5.3% vs 0.6%, a 4.7% gap on every dollar of revenue. On growth, Norwegian Cruise Line Holdings posted the faster year-over-year revenue change (6.4% vs -13.8%). Over the past eight quarters, Norwegian Cruise Line Holdings's revenue compounded faster (1.2% CAGR vs -8.6%).
Eastman Chemical Company is an American chemical products manufacturer based in Kingsport, Tennessee. Founded in 1920, it was formerly a subsidiary of Kodak until 1994. The company is an independent global specialty materials company that produces a broad range of advanced materials, chemicals and fibers for everyday purposes. It operates 36 manufacturing sites worldwide and employs approximately 14,000 people. In 2023, Eastman had sales revenue of approximately $9.21 billion.
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.
EMN vs NCLH — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $2.2B |
| Net Profit | $105.0M | $14.3M |
| Gross Margin | 17.1% | 41.0% |
| Operating Margin | — | 8.3% |
| Net Margin | 5.3% | 0.6% |
| Revenue YoY | -13.8% | 6.4% |
| Net Profit YoY | -42.3% | -94.4% |
| EPS (diluted) | $0.93 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $2.2B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $2.3B | $2.5B | ||
| Q1 25 | $2.3B | $2.1B | ||
| Q4 24 | $2.2B | $2.1B | ||
| Q3 24 | $2.5B | $2.8B | ||
| Q2 24 | $2.4B | $2.4B |
| Q1 26 | $105.0M | — | ||
| Q4 25 | $105.0M | $14.3M | ||
| Q3 25 | $47.0M | $419.3M | ||
| Q2 25 | $140.0M | $30.0M | ||
| Q1 25 | $182.0M | $-40.3M | ||
| Q4 24 | $330.0M | $254.5M | ||
| Q3 24 | $180.0M | $474.9M | ||
| Q2 24 | $230.0M | $163.4M |
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.1% | 41.0% | ||
| Q3 25 | 19.7% | 47.1% | ||
| Q2 25 | 22.1% | 42.1% | ||
| Q1 25 | 24.8% | 38.7% | ||
| Q4 24 | 24.7% | 38.0% | ||
| Q3 24 | 24.6% | 45.2% | ||
| Q2 24 | 25.3% | 38.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 8.3% | ||
| Q3 25 | 6.1% | 25.5% | ||
| Q2 25 | 7.4% | 16.8% | ||
| Q1 25 | 11.0% | 9.4% | ||
| Q4 24 | 13.2% | 10.2% | ||
| Q3 24 | 11.4% | 24.6% | ||
| Q2 24 | 12.1% | 14.4% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 5.3% | 0.6% | ||
| Q3 25 | 2.1% | 14.3% | ||
| Q2 25 | 6.1% | 1.2% | ||
| Q1 25 | 7.9% | -1.9% | ||
| Q4 24 | 14.7% | 12.1% | ||
| Q3 24 | 7.3% | 16.9% | ||
| Q2 24 | 9.7% | 6.9% |
| Q1 26 | $0.93 | — | ||
| Q4 25 | $0.93 | $0.08 | ||
| Q3 25 | $0.40 | $0.86 | ||
| Q2 25 | $1.20 | $0.07 | ||
| Q1 25 | $1.57 | $-0.09 | ||
| Q4 24 | $2.81 | $0.55 | ||
| Q3 24 | $1.53 | $0.95 | ||
| Q2 24 | $1.94 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $566.0M | $209.9M |
| Total DebtLower is stronger | — | $13.7B |
| Stockholders' EquityBook value | $6.0B | $2.2B |
| Total Assets | $14.9B | $22.5B |
| Debt / EquityLower = less leverage | — | 6.21× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $566.0M | — | ||
| Q4 25 | $566.0M | $209.9M | ||
| Q3 25 | — | $166.8M | ||
| Q2 25 | — | $184.0M | ||
| Q1 25 | — | $184.4M | ||
| Q4 24 | $837.0M | $190.8M | ||
| Q3 24 | — | $332.5M | ||
| Q2 24 | — | $594.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $13.7B | ||
| Q3 25 | — | $13.6B | ||
| Q2 25 | — | $12.6B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.9B |
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.0B | $2.2B | ||
| Q3 25 | $5.8B | $2.2B | ||
| Q2 25 | $5.8B | $1.6B | ||
| Q1 25 | $5.9B | $1.4B | ||
| Q4 24 | $5.8B | $1.4B | ||
| Q3 24 | $5.7B | $1.1B | ||
| Q2 24 | $5.6B | $693.1M |
| Q1 26 | $14.9B | — | ||
| Q4 25 | $14.9B | $22.5B | ||
| Q3 25 | $15.0B | $22.2B | ||
| Q2 25 | $15.2B | $21.6B | ||
| Q1 25 | $15.0B | $21.4B | ||
| Q4 24 | $15.2B | $20.0B | ||
| Q3 24 | $15.1B | $19.8B | ||
| Q2 24 | $14.9B | $20.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.21× | ||
| Q3 25 | — | 6.22× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | 9.09× | ||
| Q4 24 | — | 8.26× | ||
| Q3 24 | — | 10.35× | ||
| Q2 24 | — | 17.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $459.1M |
| Free Cash FlowOCF − Capex | — | $21.5M |
| FCF MarginFCF / Revenue | — | 1.0% |
| Capex IntensityCapex / Revenue | — | 19.5% |
| Cash ConversionOCF / Net Profit | — | 32.21× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $502.0M | $459.1M | ||
| Q3 25 | $402.0M | $236.6M | ||
| Q2 25 | $233.0M | $714.9M | ||
| Q1 25 | $-167.0M | $679.2M | ||
| Q4 24 | $540.0M | $399.3M | ||
| Q3 24 | $396.0M | $172.5M | ||
| Q2 24 | $367.0M | $670.9M |
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $21.5M | ||
| Q3 25 | $265.0M | $-726.5M | ||
| Q2 25 | $83.0M | $381.2M | ||
| Q1 25 | $-314.0M | $-846.0M | ||
| Q4 24 | $361.0M | $155.8M | ||
| Q3 24 | $276.0M | $-195.5M | ||
| Q2 24 | $252.0M | $330.2M |
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | 1.0% | ||
| Q3 25 | 12.0% | -24.7% | ||
| Q2 25 | 3.6% | 15.1% | ||
| Q1 25 | -13.7% | -39.8% | ||
| Q4 24 | 16.1% | 7.4% | ||
| Q3 24 | 11.2% | -7.0% | ||
| Q2 24 | 10.7% | 13.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 19.5% | ||
| Q3 25 | 6.2% | 32.8% | ||
| Q2 25 | 6.6% | 13.3% | ||
| Q1 25 | 6.4% | 71.7% | ||
| Q4 24 | 8.0% | 11.5% | ||
| Q3 24 | 4.9% | 13.1% | ||
| Q2 24 | 4.9% | 14.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.78× | 32.21× | ||
| Q3 25 | 8.55× | 0.56× | ||
| Q2 25 | 1.66× | 23.83× | ||
| Q1 25 | -0.92× | — | ||
| Q4 24 | 1.64× | 1.57× | ||
| Q3 24 | 2.20× | 0.36× | ||
| Q2 24 | 1.60× | 4.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EMN
Segment breakdown not available.
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
