Norwegian Cruise Line Holdings (NCLH) Debt Ratio (2012 - 2026)
Norwegian Cruise Line Holdings' (NCLH) Debt Ratio stood at 0.63 in Q2 2026, down 1.8% from 0.64 a year earlier and down 1.7% from the prior quarter.
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Analysis
Norwegian Cruise Line Holdings (NCLH) Debt Ratio (2012 - 2026) Analysis & Trends
For FY2025, Norwegian Cruise Line Holdings' Debt Ratio came in at 0.65, down 1.2% from FY2024.
- Annual Debt Ratio has declined for three straight years.
- Across earlier years, Debt Ratio came in at 0.66 in FY2024 (-9.0%), 0.72 in FY2023 (-1.7%), 0.73 in FY2022 (+10.5%) and 0.66 in FY2021 (+3.6%).
- The Q2 2026 figure is the lowest quarterly Debt Ratio since Q2 2020.
- On a year-over-year basis, Debt Ratio has declined for 12 consecutive quarters, with an average decline of 4.3% over the last eight quarters.
- Peak year-over-year performance for Debt Ratio in the last five years was growth of 10.8% in Q3 2022, against a decline of 9.0% in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 0.64 (Q1 2026), 0.65 (Q4 2025) and 0.65 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 94.30 Bn | 92.35 Bn | 1.55 Bn | 0.60 |
| 2 | Hilton Worldwide Holdings | 73.03 Bn | 69.51 Bn | 3.08 Bn | 0.79 |
| 3 | Royal Caribbean Cruises | 69.73 Bn | 67.31 Bn | 2.29 Bn | 0.51 |
| 4 | Viking Holdings | 35.48 Bn | 20.60 Bn | 996.62 Mn | 0.43 |
| 5 | Carnival | 33.80 Bn | 27.01 Bn | - | 0.47 |
| 6 | Intercontinental Hotels | 26.86 Bn | 22.41 Bn | - | -0.40 |
| 7 | Trip.com | 25.10 Bn | -20.45 Bn | 1.84 Bn | 0.10 |
| 8 | Hyatt Hotels | 15.28 Bn | 12.76 Bn | 388.00 Mn | 0.31 |
| 9 | H World | 13.25 Bn | 4.18 Bn | - | 0.07 |
| 10 | Norwegian Cruise Line Holdings | 6.80 Bn | 6.02 Bn | 1.05 Bn | 0.63 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.63 |
| Mar 31, 2026 | 0.64 |
| Dec 31, 2025 | 0.65 |
| Sep 30, 2025 | 0.65 |
| Jun 30, 2025 | 0.64 |
| Mar 31, 2025 | 0.66 |
| Dec 31, 2024 | 0.66 |
| Sep 30, 2024 | 0.68 |
| Jun 30, 2024 | 0.67 |
| Mar 31, 2024 | 0.69 |
| Dec 31, 2023 | 0.72 |
| Sep 30, 2023 | 0.72 |
| Jun 30, 2023 | 0.70 |
| Mar 31, 2023 | 0.72 |
| Dec 31, 2022 | 0.73 |
| Sep 30, 2022 | 0.73 |
| Jun 30, 2022 | 0.69 |
| Mar 31, 2022 | 0.70 |
| Dec 31, 2021 | 0.66 |
| Sep 30, 2021 | 0.66 |
API Access
Norwegian Cruise Line Holdings Debt Ratio 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=debt-ratio&ticker=NCLH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "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=debt-ratio&ticker=NCLH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();