Norwegian Cruise Line Holdings (NCLH) valuation
Norwegian Cruise Line Holdings P/E ratio history
Norwegian Cruise Line Holdings trades at 9.5 times its earnings over the last twelve months and 11.6 times the earnings analysts expect over the next twelve. At its last 7 fiscal year ends its P/E ranged from 9.9 (year to Dec 2018) to 51.4 (year to Dec 2023), with a median of 15.3.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $22.32 | $0.92 | 24.3 | 8.8 |
| Dec 31, 2024 | $25.73 | $1.89 | 13.6 | 12.9 |
| Dec 31, 2023 | $20.04 | $0.39 | 51.4 | 17.5 |
| Dec 31, 2022 | $12.24 | -$5.41 | n/m | — |
| Dec 31, 2021 | $20.74 | -$12.40 | n/m | — |
| Dec 31, 2020 | $25.43 | -$16.80 | n/m | — |
| Dec 31, 2019 | $58.41 | $4.30 | 13.6 | — |
| Dec 31, 2018 | $42.39 | $4.27 | 9.9 | — |
| Dec 31, 2017 | $53.25 | $3.31 | 16.1 | — |
| Dec 31, 2016 | $42.53 | $2.78 | 15.3 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Norwegian Cruise Line Holdings valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Norwegian Cruise Line HoldingsNCLH | $8.07B | 9.5 | 11.6 | 0.8 |
| Expedia GroupEXPE | $34.3B | 17.9 | 12.5 | 2.2 |
| CarnivalCCL | $39.5B | 12.5 | 11.6 | 1.4 |
| Hilton WorldwideHLT | $80.3B | 48.2 | 35.3 | 6.3 |
| Royal Caribbean GroupRCL | $82.2B | 18.2 | 15.5 | 4.3 |
| Marriott InternationalMAR | $105B | 41.3 | 32.1 | 3.9 |
| Peer median | 18.2 | 15.5 | 3.9 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: NCLH financials · NCLH returns
No forecast, no recommendation. This page describes Norwegian Cruise Line Holdings from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.