Norwegian Cruise Line Holdings (NCLH) Gross Margin (2012 - 2026)
Norwegian Cruise Line Holdings (NCLH) reported Gross Margin of 39.91% for Q2 2026, down 2.23 percentage points from 42.13% a year earlier and down 0.99 percentage points from the prior quarter.
Norwegian Cruise Line Holdings (NCLH) Gross Margin (2012 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Norwegian Cruise Line Holdings' Gross Margin came in at 42.46%, up 1.10 percentage points year-over-year; for FY2025, it came in at 42.62%, up 2.63 percentage points from FY2024.
- Gross Margin has increased for four consecutive years, with a five-year change of +74.90 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 39.99% in FY2024 (+3.95 pp), 36.04% in FY2023 (+24.13 pp), 11.91% in FY2022 (+160.06 pp) and -148.16% in FY2021 (-115.88 pp).
- The Q2 2026 figure ranks as the lowest quarterly Gross Margin since Q1 2025.
- Year over year, Gross Margin gained in seven of the last eight quarters, with an average year-over-year change of +2.32 percentage points.
- The high point for year-over-year Gross Margin in five years was Q1 2022 (a gain of 6338.29 percentage points); the low point was Q2 2026 (a drop of 2.23 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 40.89% (Q1 2026), 41.03% (Q4 2025) and 47.08% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.50 Bn | 91.55 Bn | 1.55 Bn | 21.98% |
| 2 | Hilton Worldwide Holdings | 72.30 Bn | 68.78 Bn | 3.08 Bn | 92.04% |
| 3 | Royal Caribbean Cruises | 64.91 Bn | 62.49 Bn | 2.29 Bn | 47.29% |
| 4 | Viking Holdings | 35.75 Bn | 20.87 Bn | 996.62 Mn | 45.50% |
| 5 | Carnival | 30.35 Bn | 23.01 Bn | - | - |
| 6 | Intercontinental Hotels | 26.52 Bn | 22.08 Bn | - | - |
| 7 | Trip.com | 25.92 Bn | -19.63 Bn | 1.84 Bn | 79.56% |
| 8 | Hyatt Hotels | 15.20 Bn | 12.68 Bn | 388.00 Mn | 21.21% |
| 9 | H World | 13.30 Bn | 4.22 Bn | - | - |
| 10 | Norwegian Cruise Line Holdings | 6.57 Bn | 5.79 Bn | 1.05 Bn | 39.91% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 39.91% |
| 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% |
Norwegian Cruise Line Holdings Gross Margin 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=gross-margin&ticker=NCLH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=NCLH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();