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Side-by-side financial comparison of Norwegian Cruise Line Holdings (NCLH) and SS&C Technologies Holdings Inc (SSNC). 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 $1.6B, roughly 1.4× SS&C Technologies Holdings Inc). SS&C Technologies Holdings Inc runs the higher net margin — 13.7% vs 0.6%, a 13.1% gap on every dollar of revenue. On growth, SS&C Technologies Holdings Inc posted the faster year-over-year revenue change (8.8% vs 6.4%). Over the past eight quarters, SS&C Technologies Holdings Inc's revenue compounded faster (6.5% 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.
SS&C Technologies Holdings, Inc. is an American multinational holding company headquartered in Windsor, Connecticut, that sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.
NCLH vs SSNC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $1.6B |
| Net Profit | $14.3M | $226.1M |
| Gross Margin | 41.0% | 48.7% |
| Operating Margin | 8.3% | 24.2% |
| Net Margin | 0.6% | 13.7% |
| Revenue YoY | 6.4% | 8.8% |
| Net Profit YoY | -94.4% | 6.2% |
| EPS (diluted) | $0.08 | $0.91 |
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 | — | $1.6B | ||
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $2.9B | $1.6B | ||
| Q2 25 | $2.5B | $1.5B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.1B | $1.5B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.4B | $1.5B |
| Q1 26 | — | $226.1M | ||
| Q4 25 | $14.3M | $193.1M | ||
| Q3 25 | $419.3M | $210.0M | ||
| Q2 25 | $30.0M | $180.8M | ||
| Q1 25 | $-40.3M | $213.0M | ||
| Q4 24 | $254.5M | $248.2M | ||
| Q3 24 | $474.9M | $164.4M | ||
| Q2 24 | $163.4M | $190.3M |
| Q1 26 | — | 48.7% | ||
| Q4 25 | 41.0% | 47.8% | ||
| Q3 25 | 47.1% | 47.7% | ||
| Q2 25 | 42.1% | 48.0% | ||
| Q1 25 | 38.7% | 49.3% | ||
| Q4 24 | 38.0% | 49.3% | ||
| Q3 24 | 45.2% | 48.0% | ||
| Q2 24 | 38.7% | 48.1% |
| Q1 26 | — | 24.2% | ||
| Q4 25 | 8.3% | 22.3% | ||
| Q3 25 | 25.5% | 23.3% | ||
| Q2 25 | 16.8% | 22.4% | ||
| Q1 25 | 9.4% | 23.6% | ||
| Q4 24 | 10.2% | 23.4% | ||
| Q3 24 | 24.6% | 22.2% | ||
| Q2 24 | 14.4% | 22.6% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 0.6% | 11.7% | ||
| Q3 25 | 14.3% | 13.4% | ||
| Q2 25 | 1.2% | 11.8% | ||
| Q1 25 | -1.9% | 14.1% | ||
| Q4 24 | 12.1% | 16.2% | ||
| Q3 24 | 16.9% | 11.2% | ||
| Q2 24 | 6.9% | 13.1% |
| Q1 26 | — | $0.91 | ||
| Q4 25 | $0.08 | $0.76 | ||
| Q3 25 | $0.86 | $0.83 | ||
| Q2 25 | $0.07 | $0.72 | ||
| Q1 25 | $-0.09 | $0.84 | ||
| Q4 24 | $0.55 | $0.98 | ||
| Q3 24 | $0.95 | $0.65 | ||
| Q2 24 | $0.35 | $0.75 |
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 | $420.9M |
| Total DebtLower is stronger | $13.7B | $7.4B |
| Stockholders' EquityBook value | $2.2B | $6.9B |
| Total Assets | $22.5B | $20.3B |
| Debt / EquityLower = less leverage | 6.21× | 1.08× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $420.9M | ||
| Q4 25 | $209.9M | $462.1M | ||
| Q3 25 | $166.8M | $388.3M | ||
| Q2 25 | $184.0M | $480.3M | ||
| Q1 25 | $184.4M | $515.0M | ||
| Q4 24 | $190.8M | $567.1M | ||
| Q3 24 | $332.5M | $694.7M | ||
| Q2 24 | $594.1M | $462.7M |
| Q1 26 | — | $7.4B | ||
| Q4 25 | $13.7B | — | ||
| Q3 25 | $13.6B | — | ||
| Q2 25 | $12.6B | — | ||
| Q1 25 | $12.9B | — | ||
| Q4 24 | $11.8B | — | ||
| Q3 24 | $11.8B | — | ||
| Q2 24 | $11.9B | — |
| Q1 26 | — | $6.9B | ||
| Q4 25 | $2.2B | $6.9B | ||
| Q3 25 | $2.2B | $6.9B | ||
| Q2 25 | $1.6B | $6.9B | ||
| Q1 25 | $1.4B | $6.8B | ||
| Q4 24 | $1.4B | $6.5B | ||
| Q3 24 | $1.1B | $6.8B | ||
| Q2 24 | $693.1M | $6.4B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $22.5B | $20.7B | ||
| Q3 25 | $22.2B | $19.5B | ||
| Q2 25 | $21.6B | $19.0B | ||
| Q1 25 | $21.4B | $20.4B | ||
| Q4 24 | $20.0B | $19.0B | ||
| Q3 24 | $19.8B | $18.4B | ||
| Q2 24 | $20.1B | $16.9B |
| Q1 26 | — | 1.08× | ||
| Q4 25 | 6.21× | — | ||
| Q3 25 | 6.22× | — | ||
| Q2 25 | 8.05× | — | ||
| Q1 25 | 9.09× | — | ||
| Q4 24 | 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 | $459.1M | $299.7M |
| Free Cash FlowOCF − Capex | $21.5M | — |
| FCF MarginFCF / Revenue | 1.0% | — |
| Capex IntensityCapex / Revenue | 19.5% | 0.0% |
| Cash ConversionOCF / Net Profit | 32.21× | 1.33× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $299.7M | ||
| Q4 25 | $459.1M | $643.5M | ||
| Q3 25 | $236.6M | $456.2M | ||
| Q2 25 | $714.9M | $372.9M | ||
| Q1 25 | $679.2M | $272.2M | ||
| Q4 24 | $399.3M | $486.6M | ||
| Q3 24 | $172.5M | $336.6M | ||
| Q2 24 | $670.9M | $384.9M |
| Q1 26 | — | — | ||
| Q4 25 | $21.5M | $633.0M | ||
| Q3 25 | $-726.5M | $421.5M | ||
| Q2 25 | $381.2M | $350.0M | ||
| Q1 25 | $-846.0M | $259.5M | ||
| Q4 24 | $155.8M | $466.9M | ||
| Q3 24 | $-195.5M | $310.7M | ||
| Q2 24 | $330.2M | $374.9M |
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 38.3% | ||
| Q3 25 | -24.7% | 26.9% | ||
| Q2 25 | 15.1% | 22.8% | ||
| Q1 25 | -39.8% | 17.1% | ||
| Q4 24 | 7.4% | 30.5% | ||
| Q3 24 | -7.0% | 21.2% | ||
| Q2 24 | 13.9% | 25.8% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 19.5% | 0.6% | ||
| Q3 25 | 32.8% | 2.2% | ||
| Q2 25 | 13.3% | 1.5% | ||
| Q1 25 | 71.7% | 0.8% | ||
| Q4 24 | 11.5% | 1.3% | ||
| Q3 24 | 13.1% | 1.8% | ||
| Q2 24 | 14.4% | 0.7% |
| Q1 26 | — | 1.33× | ||
| Q4 25 | 32.21× | 3.33× | ||
| Q3 25 | 0.56× | 2.17× | ||
| Q2 25 | 23.83× | 2.06× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | 1.57× | 1.96× | ||
| Q3 24 | 0.36× | 2.05× | ||
| Q2 24 | 4.10× | 2.02× |
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% |
SSNC
| Technology-enabled services | $1.4B | 85% |
| License, maintenance and related | $239.8M | 15% |
