Norwegian Cruise Line Holdings (NCLH) FCF Margin (2012 - 2026)

Norwegian Cruise Line Holdings' (NCLH) quarterly FCF Margin came in at 26.82% in Q1 2026, up 1294.0% year-on-year from 1.92% in Q1 2025, and down 2904.51% quarter-over-quarter from 0.96% in Q4 2025.

Norwegian Cruise Line Holdings (NCLH) FCF Margin (2012 - 2026) Analysis & Trends

Norwegian Cruise Line Holdings has disclosed FCF Margin across 15 years of filings, most recently posting 26.82% for Q1 2026.

  • FCF Margin for Q1 2026 came in at 26.82%, up 1294.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 9.46% (down 356.0% YoY), and the FY2025 annual result was 11.9%, down 2075.0% from the prior year.
  • FCF Margin came in at 26.82% for Q1 2026 at Norwegian Cruise Line Holdings, down from 0.96% in the prior quarter.
  • In the past five years, FCF Margin ranged from a high of 25.02% in Q1 2024 to a low of 102.75% in Q1 2022.
  • The 5-year median for FCF Margin is 0.96% (2025), against an average of 13.41%.
  • Across the five-year window, FCF Margin jumped 3177986 bps in 2022 and plunged 6479 bps in 2025, its largest moves.
  • Norwegian Cruise Line Holdings' FCF Margin stood at 5.34% in 2022, then slumped by 466 bps to 19.57% in 2023, then soared by 138 bps to 7.39% in 2024, then plunged by 87 bps to 0.96% in 2025, then plunged by 2905 bps to 26.82% in 2026.
  • The last three FCF Margin figures came in at 26.82% (Q1 2026), 0.96% (Q4 2025), and 24.73% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) FCF Margin (Qtr)
1 Booking Holdings 131.01 Bn 114.99 Bn 3.46 Bn 56.18%
2 Airbnb 79.86 Bn 67.85 Bn 2.10 Bn 63.78%
3 Royal Caribbean Cruises 75.60 Bn 75.08 Bn 2.21 Bn 37.94%
4 Carnival 37.80 Bn 36.39 Bn - 11.31%
5 Expedia 27.88 Bn 22.09 Bn 3.05 Bn 109.37%
6 Norwegian Cruise Line Holdings 8.56 Bn 8.38 Bn 953.34 Mn -26.82%
7 Global Business Travel 4.79 Bn 4.35 Bn 714.00 Mn -6.19%
8 Travel & Leisure 4.51 Bn 4.25 Bn 926.00 Mn 1.98%
9 Trip.com 4.42 Bn -788.25 Mn 1.74 Bn -
10 MakeMyTrip 2.12 Bn 1.35 Bn - 18.57%

Historic Data

Download Data
DateValue
Mar 31, 2026 -26.82%
Dec 31, 2025 0.96%
Sep 30, 2025 -24.73%
Jun 30, 2025 15.14%
Mar 31, 2025 -39.76%
Dec 31, 2024 7.39%
Sep 30, 2024 -6.97%
Jun 30, 2024 13.92%
Mar 31, 2024 25.02%
Dec 31, 2023 -19.57%
Sep 30, 2023 -36.21%
Jun 30, 2023 13.46%
Mar 31, 2023 14.58%
Dec 31, 2022 5.34%
Sep 30, 2022 -75.51%
Jun 30, 2022 8.52%
Mar 31, 2022 -102.75%
Dec 31, 2021 -108.52%
Sep 30, 2021 -588.15%
Jun 30, 2021 -18,387.71%