Norwegian Cruise Line Holdings (NCLH) Gross Margin (2012 - 2026)
Norwegian Cruise Line Holdings (NCLH) reported Gross Margin of 40.89% for Q1 2026, up 218.0% on a YoY basis from 12.86% in Q1 2025, and little changed sequentially from 41.03% in Q4 2025.
Norwegian Cruise Line Holdings (NCLH) Gross Margin (2012 - 2026) Analysis & Trends
Norwegian Cruise Line Holdings (NCLH) has 15 years of Gross Margin data on file, last reported at 40.89% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 218.0% year-over-year to 40.89%; the trailing twelve-month figure through Mar 2026 stood at 43.05% (up 258.0% YoY), and the FY2025 full-year result was 42.62%, up 263.0% from the prior year.
- Gross Margin was little changed at 40.89% in Q1 2026, from 41.03% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 47.08% in Q3 2025 to a low of 40.9% in Q1 2022.
- A 5-year average of 30.71% and a median of 38.01% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin soared 633829 bps in 2022 and surged 142 bps in 2024, its largest moves.
- Tracing NCLH's Gross Margin over 5 years: stood at 19.73% in 2022, then jumped by 70 bps to 33.46% in 2023, then gained by 14 bps to 38.01% in 2024, then increased by 8 bps to 41.03% in 2025, then retreated by 0 bps to 40.89% in 2026.
- Business Quant data shows NCLH's Gross Margin at 40.89% in Q1 2026, 41.03% in Q4 2025, and 47.08% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 62.62% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 49.53% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 78.30% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 55.39% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 41.37% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | - |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 89.00% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 40.89% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 79.62% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 58.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 40.89% |
| Dec 31, 2025 | 41.03% |
| Sep 30, 2025 | 47.08% |
| Jun 30, 2025 | 42.13% |
| Mar 31, 2025 | 38.71% |
| Dec 31, 2024 | 38.01% |
| Sep 30, 2024 | 45.17% |
| Jun 30, 2024 | 38.68% |
| Mar 31, 2024 | 36.68% |
| Dec 31, 2023 | 33.46% |
| Sep 30, 2023 | 41.53% |
| Jun 30, 2023 | 37.27% |
| Mar 31, 2023 | 29.72% |
| Dec 31, 2022 | 19.73% |
| Sep 30, 2022 | 23.31% |
| Jun 30, 2022 | 9.59% |
| Mar 31, 2022 | -40.90% |
| Dec 31, 2021 | -47.24% |
| Sep 30, 2021 | -187.27% |
| Jun 30, 2021 | -5,617.19% |