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Side-by-side financial comparison of Norwegian Cruise Line Holdings (NCLH) and Ovintiv Inc. (OVV). 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 $2.1B, roughly 1.1× Ovintiv Inc.). Ovintiv Inc. runs the higher net margin — 46.1% vs 0.6%, a 45.4% gap on every dollar of revenue. On growth, Norwegian Cruise Line Holdings posted the faster year-over-year revenue change (6.4% vs -6.0%). Ovintiv Inc. produced more free cash flow last quarter ($489.0M vs $21.5M). Over the past eight quarters, Norwegian Cruise Line Holdings's revenue compounded faster (1.2% CAGR vs -7.2%).
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.
Ovintiv Inc. is a U.S. petroleum company based in Denver. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana.
NCLH vs OVV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $2.1B |
| Net Profit | $14.3M | $946.0M |
| Gross Margin | 41.0% | — |
| Operating Margin | 8.3% | 21.2% |
| Net Margin | 0.6% | 46.1% |
| Revenue YoY | 6.4% | -6.0% |
| Net Profit YoY | -94.4% | 1676.7% |
| EPS (diluted) | $0.08 | $3.64 |
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.
| Q4 25 | $2.2B | $2.1B | ||
| Q3 25 | $2.9B | $2.0B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.1B | $2.2B | ||
| Q3 24 | $2.8B | $2.2B | ||
| Q2 24 | $2.4B | $2.2B | ||
| Q1 24 | $2.2B | $2.4B |
| Q4 25 | $14.3M | $946.0M | ||
| Q3 25 | $419.3M | $148.0M | ||
| Q2 25 | $30.0M | $307.0M | ||
| Q1 25 | $-40.3M | $-159.0M | ||
| Q4 24 | $254.5M | $-60.0M | ||
| Q3 24 | $474.9M | $507.0M | ||
| Q2 24 | $163.4M | $340.0M | ||
| Q1 24 | $17.4M | $338.0M |
| 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 24 | 36.7% | — |
| Q4 25 | 8.3% | 21.2% | ||
| Q3 25 | 25.5% | 13.5% | ||
| Q2 25 | 16.8% | 23.1% | ||
| Q1 25 | 9.4% | -3.7% | ||
| Q4 24 | 10.2% | 0.1% | ||
| Q3 24 | 24.6% | 24.2% | ||
| Q2 24 | 14.4% | 25.4% | ||
| Q1 24 | 10.0% | 20.7% |
| Q4 25 | 0.6% | 46.1% | ||
| Q3 25 | 14.3% | 7.3% | ||
| Q2 25 | 1.2% | 13.9% | ||
| Q1 25 | -1.9% | -6.7% | ||
| Q4 24 | 12.1% | -2.7% | ||
| Q3 24 | 16.9% | 23.3% | ||
| Q2 24 | 6.9% | 15.5% | ||
| Q1 24 | 0.8% | 14.2% |
| Q4 25 | $0.08 | $3.64 | ||
| Q3 25 | $0.86 | $0.57 | ||
| Q2 25 | $0.07 | $1.18 | ||
| Q1 25 | $-0.09 | $-0.61 | ||
| Q4 24 | $0.55 | $-0.22 | ||
| Q3 24 | $0.95 | $1.92 | ||
| Q2 24 | $0.35 | $1.27 | ||
| Q1 24 | $0.04 | $1.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $209.9M | $280.0M |
| Total DebtLower is stronger | $13.7B | $5.2B |
| Stockholders' EquityBook value | $2.2B | $11.2B |
| Total Assets | $22.5B | $20.4B |
| Debt / EquityLower = less leverage | 6.21× | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $209.9M | $280.0M | ||
| Q3 25 | $166.8M | $25.0M | ||
| Q2 25 | $184.0M | $20.0M | ||
| Q1 25 | $184.4M | $8.0M | ||
| Q4 24 | $190.8M | $42.0M | ||
| Q3 24 | $332.5M | $9.0M | ||
| Q2 24 | $594.1M | $8.0M | ||
| Q1 24 | $559.8M | $5.0M |
| Q4 25 | $13.7B | $5.2B | ||
| Q3 25 | $13.6B | $5.2B | ||
| Q2 25 | $12.6B | $5.3B | ||
| Q1 25 | $12.9B | $5.5B | ||
| Q4 24 | $11.8B | $5.5B | ||
| Q3 24 | $11.8B | $5.9B | ||
| Q2 24 | $11.9B | $6.1B | ||
| Q1 24 | $12.0B | $6.2B |
| Q4 25 | $2.2B | $11.2B | ||
| Q3 25 | $2.2B | $10.2B | ||
| Q2 25 | $1.6B | $10.4B | ||
| Q1 25 | $1.4B | $10.1B | ||
| Q4 24 | $1.4B | $10.3B | ||
| Q3 24 | $1.1B | $10.7B | ||
| Q2 24 | $693.1M | $10.3B | ||
| Q1 24 | $362.1M | $10.3B |
| Q4 25 | $22.5B | $20.4B | ||
| Q3 25 | $22.2B | $19.4B | ||
| Q2 25 | $21.6B | $19.7B | ||
| Q1 25 | $21.4B | $19.6B | ||
| Q4 24 | $20.0B | $19.3B | ||
| Q3 24 | $19.8B | $19.9B | ||
| Q2 24 | $20.1B | $19.8B | ||
| Q1 24 | $19.8B | $19.8B |
| Q4 25 | 6.21× | 0.46× | ||
| Q3 25 | 6.22× | 0.51× | ||
| Q2 25 | 8.05× | 0.51× | ||
| Q1 25 | 9.09× | 0.55× | ||
| Q4 24 | 8.26× | 0.53× | ||
| Q3 24 | 10.35× | 0.55× | ||
| Q2 24 | 17.19× | 0.59× | ||
| Q1 24 | 33.16× | 0.60× |
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 | $954.0M |
| Free Cash FlowOCF − Capex | $21.5M | $489.0M |
| FCF MarginFCF / Revenue | 1.0% | 23.8% |
| Capex IntensityCapex / Revenue | 19.5% | 22.6% |
| Cash ConversionOCF / Net Profit | 32.21× | 1.01× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.2B | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $459.1M | $954.0M | ||
| Q3 25 | $236.6M | $812.0M | ||
| Q2 25 | $714.9M | $1.0B | ||
| Q1 25 | $679.2M | $873.0M | ||
| Q4 24 | $399.3M | $1.0B | ||
| Q3 24 | $172.5M | $1.0B | ||
| Q2 24 | $670.9M | $1.0B | ||
| Q1 24 | $807.2M | $659.0M |
| Q4 25 | $21.5M | $489.0M | ||
| Q3 25 | $-726.5M | $268.0M | ||
| Q2 25 | $381.2M | $492.0M | ||
| Q1 25 | $-846.0M | $256.0M | ||
| Q4 24 | $155.8M | $468.0M | ||
| Q3 24 | $-195.5M | $484.0M | ||
| Q2 24 | $330.2M | $398.0M | ||
| Q1 24 | $548.3M | $68.0M |
| Q4 25 | 1.0% | 23.8% | ||
| Q3 25 | -24.7% | 13.3% | ||
| Q2 25 | 15.1% | 22.2% | ||
| Q1 25 | -39.8% | 10.8% | ||
| Q4 24 | 7.4% | 21.4% | ||
| Q3 24 | -7.0% | 22.2% | ||
| Q2 24 | 13.9% | 18.1% | ||
| Q1 24 | 25.0% | 2.8% |
| Q4 25 | 19.5% | 22.6% | ||
| Q3 25 | 32.8% | 26.9% | ||
| Q2 25 | 13.3% | 23.5% | ||
| Q1 25 | 71.7% | 26.0% | ||
| Q4 24 | 11.5% | 25.3% | ||
| Q3 24 | 13.1% | 24.7% | ||
| Q2 24 | 14.4% | 28.4% | ||
| Q1 24 | 11.8% | 24.8% |
| Q4 25 | 32.21× | 1.01× | ||
| Q3 25 | 0.56× | 5.49× | ||
| Q2 25 | 23.83× | 3.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 0.36× | 2.02× | ||
| Q2 24 | 4.10× | 3.00× | ||
| Q1 24 | 46.51× | 1.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
OVV
| Product And Service Revenue | $1.7B | 84% |
| Sales Of Purchased Product | $338.0M | 16% |
