Norwegian Cruise Line Holdings (NCLH) Debt to Equity (2012 - 2026)

Norwegian Cruise Line Holdings' (NCLH) quarterly Debt to Equity came in at $6.23 in Q1 2026, down 36.91% year-on-year from $9.88 in Q1 2025, and down 5.7% quarter-over-quarter from $6.61 in Q4 2025.

Norwegian Cruise Line Holdings (NCLH) Debt to Equity (2012 - 2026) Analysis & Trends

Norwegian Cruise Line Holdings has disclosed Debt to Equity across 15 years of filings, most recently posting $6.23 for Q1 2026.

  • Debt to Equity for Q1 2026 came in at $6.23, down 36.91% year-over-year; the trailing twelve-month figure through Mar 2026 was $6.23 (down 36.91% YoY), and the FY2025 annual result was $6.61, down 28.08% from the prior year.
  • Debt to Equity came in at $6.23 for Q1 2026 at Norwegian Cruise Line Holdings, down from $6.61 in the prior quarter.
  • In the past five years, Debt to Equity ranged from a high of $861.99 in Q2 2023 to a low of -$131.9 in Q1 2023.
  • The 5-year median for Debt to Equity is $11.81 (2024), against an average of $69.53.
  • Peak annual rise in Debt to Equity reached 5769.23% in 2023, while the deepest fall reached 1565.07% in 2023.
  • Norwegian Cruise Line Holdings' Debt to Equity stood at $198.59 in 2022, then plunged by 76.47% to $46.74 in 2023, then sank by 80.34% to $9.19 in 2024, then slipped by 28.08% to $6.61 in 2025, then dropped by 5.7% to $6.23 in 2026.
  • The last three Debt to Equity figures came in at $6.23 (Q1 2026), $6.61 (Q4 2025), and $6.62 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt/Equity (Qtr)
1 Booking Holdings 131.01 Bn 114.99 Bn 3.46 Bn -2.11
2 Airbnb 79.86 Bn 67.85 Bn 2.10 Bn 0.32
3 Royal Caribbean Cruises 75.60 Bn 75.08 Bn 2.21 Bn 2.01
4 Carnival 37.80 Bn 36.39 Bn - 1.94
5 Expedia 27.88 Bn 22.09 Bn 3.05 Bn 2.43
6 Norwegian Cruise Line Holdings 8.56 Bn 8.38 Bn 953.34 Mn 6.23
7 Global Business Travel 4.79 Bn 4.35 Bn 714.00 Mn 0.94
8 Travel & Leisure 4.51 Bn 4.25 Bn 926.00 Mn -
9 Trip.com 4.42 Bn -788.25 Mn 1.74 Bn 0.18
10 MakeMyTrip 2.12 Bn 1.35 Bn - -

Historic Data

Download Data
DateValue
Mar 31, 2026 6.23
Dec 31, 2025 6.61
Sep 30, 2025 6.62
Jun 30, 2025 8.77
Mar 31, 2025 9.88
Dec 31, 2024 9.19
Sep 30, 2024 11.81
Jun 30, 2024 19.39
Mar 31, 2024 37.97
Dec 31, 2023 46.74
Sep 30, 2023 31.63
Jun 30, 2023 861.99
Mar 31, 2023 -131.90
Dec 31, 2022 198.59
Sep 30, 2022 34.78
Jun 30, 2022 14.69
Mar 31, 2022 9.00
Dec 31, 2021 5.12
Sep 30, 2021 4.30
Jun 30, 2021 3.30