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Side-by-side financial comparison of Norwegian Cruise Line Holdings (NCLH) and Primoris Services Corp (PRIM). 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 $1.9B, roughly 1.2× Primoris Services Corp). Primoris Services Corp runs the higher net margin — 2.8% vs 0.6%, a 2.1% gap on every dollar of revenue. On growth, Primoris Services Corp posted the faster year-over-year revenue change (6.7% vs 6.4%). Primoris Services Corp produced more free cash flow last quarter ($121.1M vs $21.5M). Over the past eight quarters, Primoris Services Corp's revenue compounded faster (14.7% CAGR vs 1.2%).
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.
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
NCLH vs PRIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $1.9B |
| Net Profit | $14.3M | $51.7M |
| Gross Margin | 41.0% | 9.4% |
| Operating Margin | 8.3% | 4.2% |
| Net Margin | 0.6% | 2.8% |
| Revenue YoY | 6.4% | 6.7% |
| Net Profit YoY | -94.4% | -4.2% |
| EPS (diluted) | $0.08 | $0.94 |
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 | $1.9B | ||
| Q3 25 | $2.9B | $2.2B | ||
| Q2 25 | $2.5B | $1.9B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.1B | $1.7B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $2.2B | $1.4B |
| Q4 25 | $14.3M | $51.7M | ||
| Q3 25 | $419.3M | $94.6M | ||
| Q2 25 | $30.0M | $84.3M | ||
| Q1 25 | $-40.3M | $44.2M | ||
| Q4 24 | $254.5M | $54.0M | ||
| Q3 24 | $474.9M | $58.4M | ||
| Q2 24 | $163.4M | $49.5M | ||
| Q1 24 | $17.4M | $18.9M |
| Q4 25 | 41.0% | 9.4% | ||
| Q3 25 | 47.1% | 10.8% | ||
| Q2 25 | 42.1% | 12.3% | ||
| Q1 25 | 38.7% | 10.4% | ||
| Q4 24 | 38.0% | 10.6% | ||
| Q3 24 | 45.2% | 12.0% | ||
| Q2 24 | 38.7% | 11.9% | ||
| Q1 24 | 36.7% | 9.4% |
| Q4 25 | 8.3% | 4.2% | ||
| Q3 25 | 25.5% | 6.3% | ||
| Q2 25 | 16.8% | 6.7% | ||
| Q1 25 | 9.4% | 4.3% | ||
| Q4 24 | 10.2% | 5.0% | ||
| Q3 24 | 24.6% | 6.0% | ||
| Q2 24 | 14.4% | 5.5% | ||
| Q1 24 | 10.0% | 3.1% |
| Q4 25 | 0.6% | 2.8% | ||
| Q3 25 | 14.3% | 4.3% | ||
| Q2 25 | 1.2% | 4.5% | ||
| Q1 25 | -1.9% | 2.7% | ||
| Q4 24 | 12.1% | 3.1% | ||
| Q3 24 | 16.9% | 3.5% | ||
| Q2 24 | 6.9% | 3.2% | ||
| Q1 24 | 0.8% | 1.3% |
| Q4 25 | $0.08 | $0.94 | ||
| Q3 25 | $0.86 | $1.73 | ||
| Q2 25 | $0.07 | $1.54 | ||
| Q1 25 | $-0.09 | $0.81 | ||
| Q4 24 | $0.55 | $0.98 | ||
| Q3 24 | $0.95 | $1.07 | ||
| Q2 24 | $0.35 | $0.91 | ||
| Q1 24 | $0.04 | $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 | $209.9M | $535.5M |
| Total DebtLower is stronger | $13.7B | $469.9M |
| Stockholders' EquityBook value | $2.2B | $1.7B |
| Total Assets | $22.5B | $4.4B |
| Debt / EquityLower = less leverage | 6.21× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $209.9M | $535.5M | ||
| Q3 25 | $166.8M | $431.4M | ||
| Q2 25 | $184.0M | $390.3M | ||
| Q1 25 | $184.4M | $351.6M | ||
| Q4 24 | $190.8M | $455.8M | ||
| Q3 24 | $332.5M | $352.7M | ||
| Q2 24 | $594.1M | $207.4M | ||
| Q1 24 | $559.8M | $177.6M |
| Q4 25 | $13.7B | $469.9M | ||
| Q3 25 | $13.6B | $486.0M | ||
| Q2 25 | $12.6B | $603.1M | ||
| Q1 25 | $12.9B | $612.0M | ||
| Q4 24 | $11.8B | $734.8M | ||
| Q3 24 | $11.8B | $903.7M | ||
| Q2 24 | $11.9B | $933.0M | ||
| Q1 24 | $12.0B | $951.7M |
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $2.2B | $1.6B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $693.1M | $1.3B | ||
| Q1 24 | $362.1M | $1.2B |
| Q4 25 | $22.5B | $4.4B | ||
| Q3 25 | $22.2B | $4.6B | ||
| Q2 25 | $21.6B | $4.5B | ||
| Q1 25 | $21.4B | $4.2B | ||
| Q4 24 | $20.0B | $4.2B | ||
| Q3 24 | $19.8B | $4.2B | ||
| Q2 24 | $20.1B | $4.0B | ||
| Q1 24 | $19.8B | $4.0B |
| Q4 25 | 6.21× | 0.28× | ||
| Q3 25 | 6.22× | 0.30× | ||
| Q2 25 | 8.05× | 0.39× | ||
| Q1 25 | 9.09× | 0.42× | ||
| Q4 24 | 8.26× | 0.52× | ||
| Q3 24 | 10.35× | 0.67× | ||
| Q2 24 | 17.19× | 0.72× | ||
| Q1 24 | 33.16× | 0.76× |
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 | $142.9M |
| Free Cash FlowOCF − Capex | $21.5M | $121.1M |
| FCF MarginFCF / Revenue | 1.0% | 6.5% |
| Capex IntensityCapex / Revenue | 19.5% | 1.2% |
| Cash ConversionOCF / Net Profit | 32.21× | 2.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.2B | $340.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $459.1M | $142.9M | ||
| Q3 25 | $236.6M | $182.9M | ||
| Q2 25 | $714.9M | $78.5M | ||
| Q1 25 | $679.2M | $66.2M | ||
| Q4 24 | $399.3M | $298.3M | ||
| Q3 24 | $172.5M | $222.5M | ||
| Q2 24 | $670.9M | $16.1M | ||
| Q1 24 | $807.2M | $-28.5M |
| Q4 25 | $21.5M | $121.1M | ||
| Q3 25 | $-726.5M | $148.4M | ||
| Q2 25 | $381.2M | $45.3M | ||
| Q1 25 | $-846.0M | $25.6M | ||
| Q4 24 | $155.8M | $270.0M | ||
| Q3 24 | $-195.5M | $158.8M | ||
| Q2 24 | $330.2M | $-8.1M | ||
| Q1 24 | $548.3M | $-38.9M |
| Q4 25 | 1.0% | 6.5% | ||
| Q3 25 | -24.7% | 6.8% | ||
| Q2 25 | 15.1% | 2.4% | ||
| Q1 25 | -39.8% | 1.6% | ||
| Q4 24 | 7.4% | 15.5% | ||
| Q3 24 | -7.0% | 9.6% | ||
| Q2 24 | 13.9% | -0.5% | ||
| Q1 24 | 25.0% | -2.8% |
| Q4 25 | 19.5% | 1.2% | ||
| Q3 25 | 32.8% | 1.6% | ||
| Q2 25 | 13.3% | 1.8% | ||
| Q1 25 | 71.7% | 2.5% | ||
| Q4 24 | 11.5% | 1.6% | ||
| Q3 24 | 13.1% | 3.9% | ||
| Q2 24 | 14.4% | 1.5% | ||
| Q1 24 | 11.8% | 0.7% |
| Q4 25 | 32.21× | 2.76× | ||
| Q3 25 | 0.56× | 1.93× | ||
| Q2 25 | 23.83× | 0.93× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 1.57× | 5.53× | ||
| Q3 24 | 0.36× | 3.81× | ||
| Q2 24 | 4.10× | 0.32× | ||
| Q1 24 | 46.51× | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
