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Side-by-side financial comparison of Norwegian Cruise Line Holdings (NCLH) and OPEN TEXT CORP (OTEX). 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 $1.3B, roughly 1.8× OPEN TEXT CORP). OPEN TEXT CORP runs the higher net margin — 13.5% vs 4.5%, a 9.0% gap on every dollar of revenue. On growth, Norwegian Cruise Line Holdings posted the faster year-over-year revenue change (9.6% vs 2.2%). Over the past eight quarters, Norwegian Cruise Line Holdings's revenue compounded faster (-0.9% CAGR vs -3.0%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
NCLH vs OTEX — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.3B |
| Net Profit | $104.7M | $172.7M |
| Gross Margin | — | 73.1% |
| Operating Margin | 10.0% | 15.7% |
| Net Margin | 4.5% | 13.5% |
| Revenue YoY | 9.6% | 2.2% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.23 | $0.70 |
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 | $2.3B | $1.3B | ||
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $2.9B | $1.3B | ||
| Q2 25 | $2.5B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.8B | $1.3B | ||
| Q2 24 | $2.4B | $1.4B |
| Q1 26 | $104.7M | $172.7M | ||
| Q4 25 | $14.3M | $168.1M | ||
| Q3 25 | $419.3M | $146.6M | ||
| Q2 25 | $30.0M | $28.8M | ||
| Q1 25 | $-40.3M | $92.8M | ||
| Q4 24 | $254.5M | $229.9M | ||
| Q3 24 | $474.9M | $84.4M | ||
| Q2 24 | $163.4M | $248.2M |
| Q1 26 | — | 73.1% | ||
| Q4 25 | 41.0% | 74.0% | ||
| Q3 25 | 47.1% | 72.8% | ||
| Q2 25 | 42.1% | 72.3% | ||
| Q1 25 | 38.7% | 71.6% | ||
| Q4 24 | 38.0% | 73.3% | ||
| Q3 24 | 45.2% | 71.7% | ||
| Q2 24 | 38.7% | 72.5% |
| Q1 26 | 10.0% | 15.7% | ||
| Q4 25 | 8.3% | 22.0% | ||
| Q3 25 | 25.5% | 21.0% | ||
| Q2 25 | 16.8% | 13.9% | ||
| Q1 25 | 9.4% | 16.7% | ||
| Q4 24 | 10.2% | 22.2% | ||
| Q3 24 | 24.6% | 16.3% | ||
| Q2 24 | 14.4% | 14.2% |
| Q1 26 | 4.5% | 13.5% | ||
| Q4 25 | 0.6% | 12.7% | ||
| Q3 25 | 14.3% | 11.4% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | -1.9% | 7.4% | ||
| Q4 24 | 12.1% | 17.2% | ||
| Q3 24 | 16.9% | 6.6% | ||
| Q2 24 | 6.9% | 18.2% |
| Q1 26 | $0.23 | $0.70 | ||
| Q4 25 | $0.08 | $0.66 | ||
| Q3 25 | $0.86 | $0.58 | ||
| Q2 25 | $0.07 | $0.11 | ||
| Q1 25 | $-0.09 | $0.35 | ||
| Q4 24 | $0.55 | $0.87 | ||
| Q3 24 | $0.95 | $0.32 | ||
| Q2 24 | $0.35 | $0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $185.0M | $1.3B |
| Total DebtLower is stronger | $15.2B | $6.2B |
| Stockholders' EquityBook value | $2.4B | $4.0B |
| Total Assets | $23.8B | $13.3B |
| Debt / EquityLower = less leverage | 6.23× | 1.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $185.0M | $1.3B | ||
| Q4 25 | $209.9M | $1.3B | ||
| Q3 25 | $166.8M | $1.1B | ||
| Q2 25 | $184.0M | $1.2B | ||
| Q1 25 | $184.4M | $1.3B | ||
| Q4 24 | $190.8M | $1.1B | ||
| Q3 24 | $332.5M | $1.0B | ||
| Q2 24 | $594.1M | $1.3B |
| Q1 26 | $15.2B | $6.2B | ||
| Q4 25 | $13.7B | $6.4B | ||
| Q3 25 | $13.6B | $6.4B | ||
| Q2 25 | $12.6B | $6.4B | ||
| Q1 25 | $12.9B | $6.4B | ||
| Q4 24 | $11.8B | $6.4B | ||
| Q3 24 | $11.8B | $6.4B | ||
| Q2 24 | $11.9B | $6.4B |
| Q1 26 | $2.4B | $4.0B | ||
| Q4 25 | $2.2B | $4.0B | ||
| Q3 25 | $2.2B | $4.0B | ||
| Q2 25 | $1.6B | $3.9B | ||
| Q1 25 | $1.4B | $4.1B | ||
| Q4 24 | $1.4B | $4.2B | ||
| Q3 24 | $1.1B | $4.1B | ||
| Q2 24 | $693.1M | $4.2B |
| Q1 26 | $23.8B | $13.3B | ||
| Q4 25 | $22.5B | $13.6B | ||
| Q3 25 | $22.2B | $13.5B | ||
| Q2 25 | $21.6B | $13.8B | ||
| Q1 25 | $21.4B | $13.8B | ||
| Q4 24 | $20.0B | $13.7B | ||
| Q3 24 | $19.8B | $13.8B | ||
| Q2 24 | $20.1B | $14.2B |
| Q1 26 | 6.23× | 1.57× | ||
| Q4 25 | 6.21× | 1.58× | ||
| Q3 25 | 6.22× | 1.61× | ||
| Q2 25 | 8.05× | 1.62× | ||
| Q1 25 | 9.09× | 1.55× | ||
| Q4 24 | 8.26× | 1.51× | ||
| Q3 24 | 10.35× | 1.55× | ||
| Q2 24 | 17.19× | 1.52× |
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 | $811.5M | $354.6M |
| Free Cash FlowOCF − Capex | — | $305.0M |
| FCF MarginFCF / Revenue | — | 23.8% |
| Capex IntensityCapex / Revenue | 16.3% | 3.9% |
| Cash ConversionOCF / Net Profit | 7.75× | 2.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | $809.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $811.5M | $354.6M | ||
| Q4 25 | $459.1M | $318.7M | ||
| Q3 25 | $236.6M | $147.8M | ||
| Q2 25 | $714.9M | $158.2M | ||
| Q1 25 | $679.2M | $402.2M | ||
| Q4 24 | $399.3M | $348.0M | ||
| Q3 24 | $172.5M | $-77.8M | ||
| Q2 24 | $670.9M | $185.2M |
| Q1 26 | — | $305.0M | ||
| Q4 25 | $21.5M | $279.4M | ||
| Q3 25 | $-726.5M | $101.2M | ||
| Q2 25 | $381.2M | $124.0M | ||
| Q1 25 | $-846.0M | $373.8M | ||
| Q4 24 | $155.8M | $306.7M | ||
| Q3 24 | $-195.5M | $-117.1M | ||
| Q2 24 | $330.2M | $145.2M |
| Q1 26 | — | 23.8% | ||
| Q4 25 | 1.0% | 21.1% | ||
| Q3 25 | -24.7% | 7.9% | ||
| Q2 25 | 15.1% | 9.5% | ||
| Q1 25 | -39.8% | 29.8% | ||
| Q4 24 | 7.4% | 23.0% | ||
| Q3 24 | -7.0% | -9.2% | ||
| Q2 24 | 13.9% | 10.7% |
| Q1 26 | 16.3% | 3.9% | ||
| Q4 25 | 19.5% | 3.0% | ||
| Q3 25 | 32.8% | 3.6% | ||
| Q2 25 | 13.3% | 2.6% | ||
| Q1 25 | 71.7% | 2.3% | ||
| Q4 24 | 11.5% | 3.1% | ||
| Q3 24 | 13.1% | 3.1% | ||
| Q2 24 | 14.4% | 2.9% |
| Q1 26 | 7.75× | 2.05× | ||
| Q4 25 | 32.21× | 1.90× | ||
| Q3 25 | 0.56× | 1.01× | ||
| Q2 25 | 23.83× | 5.49× | ||
| Q1 25 | — | 4.33× | ||
| Q4 24 | 1.57× | 1.51× | ||
| Q3 24 | 0.36× | -0.92× | ||
| Q2 24 | 4.10× | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NCLH
| Passenger ticket | $1.5B | 66% |
| Onboard and other | $788.9M | 34% |
OTEX
| Customer support | $564.8M | 44% |
| Cloud services and subscriptions | $492.9M | 38% |
| License | $145.1M | 11% |
| Professional service and other | $79.6M | 6% |
