Norwegian Cruise Line Holdings (NCLH) Operating Expenses (2012 - 2026)
Norwegian Cruise Line Holdings' (NCLH) quarterly Operating Expenses came in at $690.4 million in Q2 2026, up 8.42% year-over-year from $636.8 million in Q2 2025, and down 4.16% quarter-over-quarter from $720.4 million in Q1 2026.
Analysis
Norwegian Cruise Line Holdings (NCLH) Operating Expenses (2012 - 2026) Analysis & Trends
Norwegian Cruise Line Holdings has disclosed Operating Expenses across 15 years of filings, most recently posting $690.4 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 8.42% year-over-year to $690.4 million; the TTM figure through Jun 2026 stood at $2.8 billion (up 14.69% YoY), while the FY2025 annual figure was $2.6 billion, up 13.01% from the prior year.
- Operating Expenses came in at $690.4 million for Q2 2026 at Norwegian Cruise Line Holdings, down from $720.4 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $734.2 million in Q4 2025 to a low of $475.3 million in Q1 2022.
- Average Operating Expenses over 5 years is $591.2 million, with a median of $578.5 million recorded in 2022.
- Year-over-year, Operating Expenses soared 41.95% in 2022 and retreated 6.95% in 2023.
- Over 5 years, Operating Expenses stood at $580.6 million in 2022, then declined by 6.95% to $540.3 million in 2023, then gained by 8.65% to $587.0 million in 2024, then grew by 25.07% to $734.2 million in 2025, then dropped by 5.97% to $690.4 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $690.4 million in Q2 2026, $720.4 million in Q1 2026, and $734.2 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Royal Caribbean Cruises | 71.23 Bn | 70.31 Bn | 2.29 Bn | 513.00 Mn |
| 2 | Viking Holdings | 38.98 Bn | 34.99 Bn | 996.62 Mn | -268.67 Mn |
| 3 | Carnival | 32.12 Bn | 29.88 Bn | - | 4.23 Bn |
| 4 | Norwegian Cruise Line Holdings | 7.08 Bn | 6.86 Bn | 1.05 Bn | 690.41 Mn |
| 5 | Lindblad Expeditions Holdings | 1.73 Bn | 1.37 Bn | 96.64 Mn | 187.29 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 690.41 Mn |
| Mar 31, 2026 | 720.40 Mn |
| Dec 31, 2025 | 734.24 Mn |
| Sep 30, 2025 | 633.83 Mn |
| Jun 30, 2025 | 636.81 Mn |
| Mar 31, 2025 | 622.67 Mn |
| Dec 31, 2024 | 587.05 Mn |
| Sep 30, 2024 | 576.43 Mn |
| Jun 30, 2024 | 576.18 Mn |
| Mar 31, 2024 | 585.40 Mn |
| Dec 31, 2023 | 540.31 Mn |
| Sep 30, 2023 | 529.97 Mn |
| Jun 30, 2023 | 549.34 Mn |
| Mar 31, 2023 | 530.80 Mn |
| Dec 31, 2022 | 580.64 Mn |
| Sep 30, 2022 | 561.84 Mn |
| Jun 30, 2022 | 510.67 Mn |
| Mar 31, 2022 | 475.28 Mn |
| Dec 31, 2021 | 456.61 Mn |
| Sep 30, 2021 | 402.43 Mn |