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Side-by-side financial comparison of Huntington Ingalls Industries (HII) 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 ($2.3B vs $1.7B, roughly 1.4× Huntington Ingalls Industries). Huntington Ingalls Industries runs the higher net margin — 8.9% vs 4.5%, a 4.5% gap on every dollar of revenue. On growth, Huntington Ingalls Industries posted the faster year-over-year revenue change (13.8% vs 9.6%). Over the past eight quarters, Norwegian Cruise Line Holdings's revenue compounded faster (-0.9% CAGR vs -25.2%).
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII was formed on 31 March 2011, as a divestiture from Northrop Grumman.
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.
HII vs NCLH — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $2.3B |
| Net Profit | $149.0M | $104.7M |
| Gross Margin | — | — |
| Operating Margin | 9.3% | 10.0% |
| Net Margin | 8.9% | 4.5% |
| Revenue YoY | 13.8% | 9.6% |
| Net Profit YoY | — | — |
| EPS (diluted) | $3.79 | $0.23 |
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 | $1.7B | $2.3B | ||
| Q4 25 | $3.5B | $2.2B | ||
| Q3 25 | $3.2B | $2.9B | ||
| Q2 25 | $3.1B | $2.5B | ||
| Q1 25 | $2.7B | $2.1B | ||
| Q4 24 | $3.0B | $2.1B | ||
| Q3 24 | $2.7B | $2.8B | ||
| Q2 24 | $3.0B | $2.4B |
| Q1 26 | $149.0M | $104.7M | ||
| Q4 25 | $159.0M | $14.3M | ||
| Q3 25 | $145.0M | $419.3M | ||
| Q2 25 | $152.0M | $30.0M | ||
| Q1 25 | $149.0M | $-40.3M | ||
| Q4 24 | $123.0M | $254.5M | ||
| Q3 24 | $101.0M | $474.9M | ||
| Q2 24 | $173.0M | $163.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 47.1% | ||
| Q2 25 | — | 42.1% | ||
| Q1 25 | — | 38.7% | ||
| Q4 24 | — | 38.0% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 38.7% |
| Q1 26 | 9.3% | 10.0% | ||
| Q4 25 | 4.9% | 8.3% | ||
| Q3 25 | 5.0% | 25.5% | ||
| Q2 25 | 5.3% | 16.8% | ||
| Q1 25 | 5.9% | 9.4% | ||
| Q4 24 | 3.7% | 10.2% | ||
| Q3 24 | 3.0% | 24.6% | ||
| Q2 24 | 6.3% | 14.4% |
| Q1 26 | 8.9% | 4.5% | ||
| Q4 25 | 4.6% | 0.6% | ||
| Q3 25 | 4.5% | 14.3% | ||
| Q2 25 | 4.9% | 1.2% | ||
| Q1 25 | 5.4% | -1.9% | ||
| Q4 24 | 4.1% | 12.1% | ||
| Q3 24 | 3.7% | 16.9% | ||
| Q2 24 | 5.8% | 6.9% |
| Q1 26 | $3.79 | $0.23 | ||
| Q4 25 | $4.06 | $0.08 | ||
| Q3 25 | $3.68 | $0.86 | ||
| Q2 25 | $3.86 | $0.07 | ||
| Q1 25 | $3.79 | $-0.09 | ||
| Q4 24 | $3.15 | $0.55 | ||
| Q3 24 | $2.56 | $0.95 | ||
| Q2 24 | $4.38 | $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 | $216.0M | $185.0M |
| Total DebtLower is stronger | $2.7B | $15.2B |
| Stockholders' EquityBook value | $5.1B | $2.4B |
| Total Assets | $12.5B | $23.8B |
| Debt / EquityLower = less leverage | 0.52× | 6.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $216.0M | $185.0M | ||
| Q4 25 | — | $209.9M | ||
| Q3 25 | — | $166.8M | ||
| Q2 25 | — | $184.0M | ||
| Q1 25 | — | $184.4M | ||
| Q4 24 | — | $190.8M | ||
| Q3 24 | — | $332.5M | ||
| Q2 24 | — | $594.1M |
| Q1 26 | $2.7B | $15.2B | ||
| Q4 25 | $2.7B | $13.7B | ||
| Q3 25 | — | $13.6B | ||
| Q2 25 | — | $12.6B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | $2.7B | $11.8B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.9B |
| Q1 26 | $5.1B | $2.4B | ||
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $5.0B | $2.2B | ||
| Q2 25 | $4.9B | $1.6B | ||
| Q1 25 | $4.8B | $1.4B | ||
| Q4 24 | $4.7B | $1.4B | ||
| Q3 24 | $4.2B | $1.1B | ||
| Q2 24 | $4.2B | $693.1M |
| Q1 26 | $12.5B | $23.8B | ||
| Q4 25 | $12.7B | $22.5B | ||
| Q3 25 | $12.3B | $22.2B | ||
| Q2 25 | $12.1B | $21.6B | ||
| Q1 25 | $12.1B | $21.4B | ||
| Q4 24 | $12.1B | $20.0B | ||
| Q3 24 | $11.1B | $19.8B | ||
| Q2 24 | $11.3B | $20.1B |
| Q1 26 | 0.52× | 6.23× | ||
| Q4 25 | 0.53× | 6.21× | ||
| Q3 25 | — | 6.22× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | 9.09× | ||
| Q4 24 | 0.58× | 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 | $-390.0M | $811.5M |
| Free Cash FlowOCF − Capex | $-461.0M | — |
| FCF MarginFCF / Revenue | -27.7% | — |
| Capex IntensityCapex / Revenue | 4.4% | 16.3% |
| Cash ConversionOCF / Net Profit | -2.62× | 7.75× |
| TTM Free Cash FlowTrailing 4 quarters | $795.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-390.0M | $811.5M | ||
| Q4 25 | $650.0M | $459.1M | ||
| Q3 25 | $118.0M | $236.6M | ||
| Q2 25 | $823.0M | $714.9M | ||
| Q1 25 | $-395.0M | $679.2M | ||
| Q4 24 | $391.0M | $399.3M | ||
| Q3 24 | $213.0M | $172.5M | ||
| Q2 24 | $-9.0M | $670.9M |
| Q1 26 | $-461.0M | — | ||
| Q4 25 | $516.0M | $21.5M | ||
| Q3 25 | $13.0M | $-726.5M | ||
| Q2 25 | $727.0M | $381.2M | ||
| Q1 25 | $-462.0M | $-846.0M | ||
| Q4 24 | $277.0M | $155.8M | ||
| Q3 24 | $125.0M | $-195.5M | ||
| Q2 24 | $-99.0M | $330.2M |
| Q1 26 | -27.7% | — | ||
| Q4 25 | 14.8% | 1.0% | ||
| Q3 25 | 0.4% | -24.7% | ||
| Q2 25 | 23.6% | 15.1% | ||
| Q1 25 | -16.9% | -39.8% | ||
| Q4 24 | 9.2% | 7.4% | ||
| Q3 24 | 4.5% | -7.0% | ||
| Q2 24 | -3.3% | 13.9% |
| Q1 26 | 4.4% | 16.3% | ||
| Q4 25 | 3.9% | 19.5% | ||
| Q3 25 | 3.3% | 32.8% | ||
| Q2 25 | 3.1% | 13.3% | ||
| Q1 25 | 2.5% | 71.7% | ||
| Q4 24 | 3.8% | 11.5% | ||
| Q3 24 | 3.2% | 13.1% | ||
| Q2 24 | 3.0% | 14.4% |
| Q1 26 | -2.62× | 7.75× | ||
| Q4 25 | 4.09× | 32.21× | ||
| Q3 25 | 0.81× | 0.56× | ||
| Q2 25 | 5.41× | 23.83× | ||
| Q1 25 | -2.65× | — | ||
| Q4 24 | 3.18× | 1.57× | ||
| Q3 24 | 2.11× | 0.36× | ||
| Q2 24 | -0.05× | 4.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HII
Segment breakdown not available.
NCLH
| Passenger ticket | $1.5B | 66% |
| Onboard and other | $788.9M | 34% |
