Norwegian Cruise Line Holdings (NCLH) Cost of Revenue (2012 - 2026)
Norwegian Cruise Line Holdings (NCLH) posted Cost of Revenue of $1.59 billion for Q2 2026, up 8.9% from $1.46 billion a year earlier and up 15.2% from the prior quarter.
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Analysis
Norwegian Cruise Line Holdings (NCLH) Cost of Revenue (2012 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Norwegian Cruise Line Holdings was $5.84 billion, up 4.2% year-over-year; for FY2025, it came in at $5.64 billion, down 0.9% from FY2024.
- Annual Cost of Revenue shows a five-year compound annual growth rate of 27.2% (FY2020 to FY2025).
- In prior years, Norwegian Cruise Line Holdings' Cost of Revenue was $5.69 billion in FY2024 (+4.0%), $5.47 billion in FY2023 (+28.2%), $4.27 billion in FY2022 (+165.4%) and $1.61 billion in FY2021 (-5.0%).
- The Q2 2026 figure stands as the highest quarterly Cost of Revenue in data going back to Q1 2012.
- On a year-over-year basis, Cost of Revenue has increased in each of the last five quarters, with growth averaging 1.7% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was Q2 2022, with growth of 329.8%; the weakest was Q1 2025, with a decline of 6.0%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $1.38 billion (Q1 2026), $1.32 billion (Q4 2025) and $1.55 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.60 Bn | 91.65 Bn | 1.55 Bn | 5.52 Bn |
| 2 | Royal Caribbean Cruises | 74.32 Bn | 71.90 Bn | 2.29 Bn | 2.55 Bn |
| 3 | Hilton Worldwide Holdings | 72.10 Bn | 68.58 Bn | 3.08 Bn | 266.00 Mn |
| 4 | Viking Holdings | 36.31 Bn | 21.43 Bn | 996.62 Mn | 1.19 Bn |
| 5 | Carnival | 34.66 Bn | 27.87 Bn | - | - |
| 6 | Intercontinental Hotels | 26.64 Bn | 22.19 Bn | - | - |
| 7 | Trip.com | 24.74 Bn | -20.81 Bn | 1.84 Bn | 466.00 Mn |
| 8 | Hyatt Hotels | 14.98 Bn | 12.46 Bn | 388.00 Mn | 1.44 Bn |
| 9 | H World | 12.83 Bn | 3.76 Bn | - | - |
| 10 | Norwegian Cruise Line Holdings | 6.95 Bn | 6.17 Bn | 1.05 Bn | 1.59 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.59 Bn |
| Mar 31, 2026 | 1.38 Bn |
| Dec 31, 2025 | 1.32 Bn |
| Sep 30, 2025 | 1.55 Bn |
| Jun 30, 2025 | 1.46 Bn |
| Mar 31, 2025 | 1.30 Bn |
| Dec 31, 2024 | 1.31 Bn |
| Sep 30, 2024 | 1.54 Bn |
| Jun 30, 2024 | 1.45 Bn |
| Mar 31, 2024 | 1.39 Bn |
| Dec 31, 2023 | 1.32 Bn |
| Sep 30, 2023 | 1.48 Bn |
| Jun 30, 2023 | 1.38 Bn |
| Mar 31, 2023 | 1.28 Bn |
| Dec 31, 2022 | 1.22 Bn |
| Sep 30, 2022 | 1.24 Bn |
| Jun 30, 2022 | 1.07 Bn |
| Mar 31, 2022 | 735.41 Mn |
| Dec 31, 2021 | 717.70 Mn |
| Sep 30, 2021 | 439.76 Mn |
API Access
Norwegian Cruise Line Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NCLH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NCLH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NCLH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();