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Side-by-side financial comparison of Norwegian Cruise Line Holdings (NCLH) and Snap-on (SNA). 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 $1.2B, roughly 1.8× Snap-on). Snap-on runs the higher net margin — 21.3% vs 0.6%, a 20.7% gap on every dollar of revenue. On growth, Norwegian Cruise Line Holdings posted the faster year-over-year revenue change (6.4% vs 2.7%). Snap-on produced more free cash flow last quarter ($254.6M vs $21.5M). Over the past eight quarters, Snap-on's revenue compounded faster (2.0% 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.
Snap-on Incorporated is an American designer, manufacturer, and marketer of high-end tools and equipment for professional use in the transportation industry, including the automotive, heavy duty, equipment, marine, aviation, and railroad industries. Headquartered in Kenosha, Wisconsin, since 1930, Snap-on also distributes lower-end tools under the brand name Blue-Point. Their primary competitors include Matco, Mac Tools, and Cornwell Tools.
NCLH vs SNA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $1.2B |
| Net Profit | $14.3M | $260.7M |
| Gross Margin | 41.0% | — |
| Operating Margin | 8.3% | 27.8% |
| Net Margin | 0.6% | 21.3% |
| Revenue YoY | 6.4% | 2.7% |
| Net Profit YoY | -94.4% | 1.0% |
| EPS (diluted) | $0.08 | $4.94 |
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 | $1.2B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $2.5B | $1.2B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $2.1B | $1.2B | ||
| Q3 24 | $2.8B | $1.1B | ||
| Q2 24 | $2.4B | $1.2B | ||
| Q1 24 | $2.2B | $1.2B |
| Q4 25 | $14.3M | $260.7M | ||
| Q3 25 | $419.3M | $265.4M | ||
| Q2 25 | $30.0M | $250.3M | ||
| Q1 25 | $-40.3M | $240.5M | ||
| Q4 24 | $254.5M | $258.1M | ||
| Q3 24 | $474.9M | $251.1M | ||
| Q2 24 | $163.4M | $271.2M | ||
| Q1 24 | $17.4M | $263.5M |
| 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% | 27.8% | ||
| Q3 25 | 25.5% | 29.4% | ||
| Q2 25 | 16.8% | 28.0% | ||
| Q1 25 | 9.4% | 27.7% | ||
| Q4 24 | 10.2% | 27.9% | ||
| Q3 24 | 24.6% | 28.4% | ||
| Q2 24 | 14.4% | 29.9% | ||
| Q1 24 | 10.0% | 28.9% |
| Q4 25 | 0.6% | 21.3% | ||
| Q3 25 | 14.3% | 22.5% | ||
| Q2 25 | 1.2% | 21.4% | ||
| Q1 25 | -1.9% | 21.2% | ||
| Q4 24 | 12.1% | 21.7% | ||
| Q3 24 | 16.9% | 22.0% | ||
| Q2 24 | 6.9% | 23.1% | ||
| Q1 24 | 0.8% | 22.4% |
| Q4 25 | $0.08 | $4.94 | ||
| Q3 25 | $0.86 | $5.02 | ||
| Q2 25 | $0.07 | $4.72 | ||
| Q1 25 | $-0.09 | $4.51 | ||
| Q4 24 | $0.55 | $4.83 | ||
| Q3 24 | $0.95 | $4.70 | ||
| Q2 24 | $0.35 | $5.07 | ||
| Q1 24 | $0.04 | $4.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $209.9M | — |
| Total DebtLower is stronger | $13.7B | — |
| Stockholders' EquityBook value | $2.2B | — |
| Total Assets | $22.5B | — |
| Debt / EquityLower = less leverage | 6.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $209.9M | — | ||
| Q3 25 | $166.8M | $1.5B | ||
| Q2 25 | $184.0M | $1.5B | ||
| Q1 25 | $184.4M | $1.4B | ||
| Q4 24 | $190.8M | $1.4B | ||
| Q3 24 | $332.5M | $1.3B | ||
| Q2 24 | $594.1M | $1.2B | ||
| Q1 24 | $559.8M | $1.1B |
| Q4 25 | $13.7B | — | ||
| Q3 25 | $13.6B | $1.2B | ||
| Q2 25 | $12.6B | $1.2B | ||
| Q1 25 | $12.9B | — | ||
| Q4 24 | $11.8B | $1.2B | ||
| Q3 24 | $11.8B | — | ||
| Q2 24 | $11.9B | — | ||
| Q1 24 | $12.0B | — |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $5.8B | ||
| Q2 25 | $1.6B | $5.7B | ||
| Q1 25 | $1.4B | $5.5B | ||
| Q4 24 | $1.4B | $5.4B | ||
| Q3 24 | $1.1B | $5.5B | ||
| Q2 24 | $693.1M | $5.3B | ||
| Q1 24 | $362.1M | $5.1B |
| Q4 25 | $22.5B | — | ||
| Q3 25 | $22.2B | $8.4B | ||
| Q2 25 | $21.6B | $8.2B | ||
| Q1 25 | $21.4B | $8.1B | ||
| Q4 24 | $20.0B | $7.9B | ||
| Q3 24 | $19.8B | $8.0B | ||
| Q2 24 | $20.1B | $7.8B | ||
| Q1 24 | $19.8B | $7.7B |
| Q4 25 | 6.21× | — | ||
| Q3 25 | 6.22× | 0.21× | ||
| Q2 25 | 8.05× | 0.21× | ||
| Q1 25 | 9.09× | — | ||
| Q4 24 | 8.26× | 0.22× | ||
| Q3 24 | 10.35× | — | ||
| Q2 24 | 17.19× | — | ||
| Q1 24 | 33.16× | — |
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 | $268.1M |
| Free Cash FlowOCF − Capex | $21.5M | $254.6M |
| FCF MarginFCF / Revenue | 1.0% | 20.8% |
| Capex IntensityCapex / Revenue | 19.5% | 1.1% |
| Cash ConversionOCF / Net Profit | 32.21× | 1.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.2B | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $459.1M | $268.1M | ||
| Q3 25 | $236.6M | $277.9M | ||
| Q2 25 | $714.9M | $237.2M | ||
| Q1 25 | $679.2M | $298.5M | ||
| Q4 24 | $399.3M | $293.5M | ||
| Q3 24 | $172.5M | $274.2M | ||
| Q2 24 | $670.9M | $301.1M | ||
| Q1 24 | $807.2M | $348.7M |
| Q4 25 | $21.5M | $254.6M | ||
| Q3 25 | $-726.5M | $258.0M | ||
| Q2 25 | $381.2M | $217.5M | ||
| Q1 25 | $-846.0M | $275.6M | ||
| Q4 24 | $155.8M | $275.4M | ||
| Q3 24 | $-195.5M | $253.8M | ||
| Q2 24 | $330.2M | $277.9M | ||
| Q1 24 | $548.3M | $326.9M |
| Q4 25 | 1.0% | 20.8% | ||
| Q3 25 | -24.7% | 21.8% | ||
| Q2 25 | 15.1% | 18.6% | ||
| Q1 25 | -39.8% | 24.3% | ||
| Q4 24 | 7.4% | 23.1% | ||
| Q3 24 | -7.0% | 22.3% | ||
| Q2 24 | 13.9% | 23.7% | ||
| Q1 24 | 25.0% | 27.8% |
| Q4 25 | 19.5% | 1.1% | ||
| Q3 25 | 32.8% | 1.7% | ||
| Q2 25 | 13.3% | 1.7% | ||
| Q1 25 | 71.7% | 2.0% | ||
| Q4 24 | 11.5% | 1.5% | ||
| Q3 24 | 13.1% | 1.8% | ||
| Q2 24 | 14.4% | 2.0% | ||
| Q1 24 | 11.8% | 1.9% |
| Q4 25 | 32.21× | 1.03× | ||
| Q3 25 | 0.56× | 1.05× | ||
| Q2 25 | 23.83× | 0.95× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | 1.57× | 1.14× | ||
| Q3 24 | 0.36× | 1.09× | ||
| Q2 24 | 4.10× | 1.11× | ||
| Q1 24 | 46.51× | 1.32× |
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% |
SNA
Segment breakdown not available.
