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NORWEGIAN CRUISE LINE HOLDIN (NCLH) Stock Fundamental Analysis

NYSE:NCLH - New York Stock Exchange, Inc. - BMG667211046 - Common Stock

27.04  -0.13 (-0.48%)

After market: 27.1933 +0.15 (+0.57%)

Fundamental Rating

4

Taking everything into account, NCLH scores 4 out of 10 in our fundamental rating. NCLH was compared to 134 industry peers in the Hotels, Restaurants & Leisure industry. While NCLH is still in line with the averages on profitability rating, there are concerns on its financial health. NCLH is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year NCLH was profitable.
NCLH had a positive operating cash flow in the past year.
In multiple years NCLH reported negative net income over the last 5 years.
In multiple years NCLH reported negative operating cash flow during the last 5 years.
NCLH Yearly Net Income VS EBIT VS OCF VS FCFNCLH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B -4B

1.2 Ratios

NCLH has a Return On Assets of 2.78%. This is comparable to the rest of the industry: NCLH outperforms 54.96% of its industry peers.
NCLH has a better Return On Equity (48.38%) than 95.42% of its industry peers.
NCLH has a better Return On Invested Capital (7.90%) than 63.36% of its industry peers.
Industry RankSector Rank
ROA 2.78%
ROE 48.38%
ROIC 7.9%
ROA(3y)-11.81%
ROA(5y)-10.33%
ROE(3y)-1139.9%
ROE(5y)-699.51%
ROIC(3y)N/A
ROIC(5y)N/A
NCLH Yearly ROA, ROE, ROICNCLH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -1K -2K -3K

1.3 Margins

NCLH's Profit Margin of 5.87% is fine compared to the rest of the industry. NCLH outperforms 62.60% of its industry peers.
NCLH's Profit Margin has declined in the last couple of years.
NCLH has a better Operating Margin (14.70%) than 64.89% of its industry peers.
In the last couple of years the Operating Margin of NCLH has declined.
With a Gross Margin value of 39.05%, NCLH is not doing good in the industry: 64.89% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of NCLH has declined.
Industry RankSector Rank
OM 14.7%
PM (TTM) 5.87%
GM 39.05%
OM growth 3YN/A
OM growth 5Y-11.55%
PM growth 3YN/A
PM growth 5Y-34.21%
GM growth 3YN/A
GM growth 5Y-4.01%
NCLH Yearly Profit, Operating, Gross MarginsNCLH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -200 -400 -600

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NCLH is creating some value.
Compared to 1 year ago, NCLH has more shares outstanding
The number of shares outstanding for NCLH has been increased compared to 5 years ago.
NCLH has a better debt/assets ratio than last year.
NCLH Yearly Shares OutstandingNCLH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M
NCLH Yearly Total Debt VS Total AssetsNCLH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.2 Solvency

NCLH has an Altman-Z score of 0.35. This is a bad value and indicates that NCLH is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.35, NCLH is doing worse than 80.15% of the companies in the same industry.
NCLH has a debt to FCF ratio of 45.53. This is a negative value and a sign of low solvency as NCLH would need 45.53 years to pay back of all of its debts.
With a Debt to FCF ratio value of 45.53, NCLH is not doing good in the industry: 61.07% of the companies in the same industry are doing better.
A Debt/Equity ratio of 10.35 is on the high side and indicates that NCLH has dependencies on debt financing.
NCLH has a worse Debt to Equity ratio (10.35) than 64.89% of its industry peers.
Industry RankSector Rank
Debt/Equity 10.35
Debt/FCF 45.53
Altman-Z 0.35
ROIC/WACC1.01
WACC7.86%
NCLH Yearly LT Debt VS Equity VS FCFNCLH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5B 10B

2.3 Liquidity

NCLH has a Current Ratio of 0.20. This is a bad value and indicates that NCLH is not financially healthy enough and could expect problems in meeting its short term obligations.
NCLH has a worse Current ratio (0.20) than 97.71% of its industry peers.
NCLH has a Quick Ratio of 0.20. This is a bad value and indicates that NCLH is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.17, NCLH is doing worse than 96.95% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.2
Quick Ratio 0.17
NCLH Yearly Current Assets VS Current LiabilitesNCLH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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6

3. Growth

3.1 Past

NCLH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 589.29%, which is quite impressive.
The earnings per share for NCLH have been decreasing by -34.82% on average. This is quite bad
NCLH shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.77%.
The Revenue has been growing slightly by 7.14% on average over the past years.
EPS 1Y (TTM)589.29%
EPS 3YN/A
EPS 5Y-34.82%
EPS Q2Q%30.26%
Revenue 1Y (TTM)15.77%
Revenue growth 3Y88.33%
Revenue growth 5Y7.14%
Sales Q2Q%10.67%

3.2 Future

The Earnings Per Share is expected to grow by 45.59% on average over the next years. This is a very strong growth
Based on estimates for the next years, NCLH will show a quite strong growth in Revenue. The Revenue will grow by 9.96% on average per year.
EPS Next Y191.49%
EPS Next 2Y92.27%
EPS Next 3Y65.93%
EPS Next 5Y45.59%
Revenue Next Year11.02%
Revenue Next 2Y9.54%
Revenue Next 3Y9.6%
Revenue Next 5Y9.96%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
NCLH Yearly Revenue VS EstimatesNCLH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5B 10B 15B
NCLH Yearly EPS VS EstimatesNCLH Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 5 -5

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 19.74 indicates a rather expensive valuation of NCLH.
Based on the Price/Earnings ratio, NCLH is valued a bit cheaper than 69.47% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.29, NCLH is valued a bit cheaper.
A Price/Forward Earnings ratio of 12.61 indicates a correct valuation of NCLH.
87.02% of the companies in the same industry are more expensive than NCLH, based on the Price/Forward Earnings ratio.
NCLH is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 24.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 19.74
Fwd PE 12.61
NCLH Price Earnings VS Forward Price EarningsNCLH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NCLH is valued a bit cheaper than 64.89% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NCLH is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 40.39
EV/EBITDA 10.69
NCLH Per share dataNCLH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

NCLH's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NCLH's earnings are expected to grow with 65.93% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y92.27%
EPS Next 3Y65.93%

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0

5. Dividend

5.1 Amount

NCLH does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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NORWEGIAN CRUISE LINE HOLDIN

NYSE:NCLH (1/21/2025, 8:16:34 PM)

After market: 27.1933 +0.15 (+0.57%)

27.04

-0.13 (-0.48%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)10-31 2024-10-31/bmo
Earnings (Next)N/A N/A
Inst Owners71.66%
Inst Owner Change0.58%
Ins Owners0.35%
Ins Owner Change0.1%
Market Cap11.89B
Analysts78.57
Price Target30.24 (11.83%)
Short Float %5.63%
Short Ratio2.45
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.87%
Min EPS beat(2)2.95%
Max EPS beat(2)12.79%
EPS beat(4)3
Avg EPS beat(4)6.04%
Min EPS beat(4)-29.42%
Max EPS beat(4)37.85%
EPS beat(8)6
Avg EPS beat(8)6.34%
EPS beat(12)7
Avg EPS beat(12)-0.4%
EPS beat(16)9
Avg EPS beat(16)-0.3%
Revenue beat(2)0
Avg Revenue beat(2)-1.55%
Min Revenue beat(2)-2.41%
Max Revenue beat(2)-0.69%
Revenue beat(4)0
Avg Revenue beat(4)-2.12%
Min Revenue beat(4)-4.27%
Max Revenue beat(4)-0.69%
Revenue beat(8)1
Avg Revenue beat(8)-1.13%
Revenue beat(12)1
Avg Revenue beat(12)-5.34%
Revenue beat(16)2
Avg Revenue beat(16)2.81%
PT rev (1m)4.35%
PT rev (3m)32.68%
EPS NQ rev (1m)0%
EPS NQ rev (3m)221.02%
EPS NY rev (1m)0%
EPS NY rev (3m)6.7%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.03%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)0.78%
Valuation
Industry RankSector Rank
PE 19.74
Fwd PE 12.61
P/S 1.27
P/FCF 40.39
P/OCF 6.23
P/B 10.47
P/tB 23.83
EV/EBITDA 10.69
EPS(TTM)1.37
EY5.07%
EPS(NY)2.14
Fwd EY7.93%
FCF(TTM)0.67
FCFY2.48%
OCF(TTM)4.34
OCFY16.06%
SpS21.28
BVpS2.58
TBVpS1.13
PEG (NY)0.1
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.78%
ROE 48.38%
ROCE 10.01%
ROIC 7.9%
ROICexc 8.1%
ROICexgc 8.5%
OM 14.7%
PM (TTM) 5.87%
GM 39.05%
FCFM 3.15%
ROA(3y)-11.81%
ROA(5y)-10.33%
ROE(3y)-1139.9%
ROE(5y)-699.51%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-9.93%
ROICexc growth 3YN/A
ROICexc growth 5Y-6.98%
OM growth 3YN/A
OM growth 5Y-11.55%
PM growth 3YN/A
PM growth 5Y-34.21%
GM growth 3YN/A
GM growth 5Y-4.01%
F-Score8
Asset Turnover0.47
Health
Industry RankSector Rank
Debt/Equity 10.35
Debt/FCF 45.53
Debt/EBITDA 5.03
Cap/Depr 168.23%
Cap/Sales 17.26%
Interest Coverage 250
Cash Conversion 81.76%
Profit Quality 53.6%
Current Ratio 0.2
Quick Ratio 0.17
Altman-Z 0.35
F-Score8
WACC7.86%
ROIC/WACC1.01
Cap/Depr(3y)210.28%
Cap/Depr(5y)202.36%
Cap/Sales(3y)61.72%
Cap/Sales(5y)56.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)589.29%
EPS 3YN/A
EPS 5Y-34.82%
EPS Q2Q%30.26%
EPS Next Y191.49%
EPS Next 2Y92.27%
EPS Next 3Y65.93%
EPS Next 5Y45.59%
Revenue 1Y (TTM)15.77%
Revenue growth 3Y88.33%
Revenue growth 5Y7.14%
Sales Q2Q%10.67%
Revenue Next Year11.02%
Revenue Next 2Y9.54%
Revenue Next 3Y9.6%
Revenue Next 5Y9.96%
EBIT growth 1Y155.81%
EBIT growth 3YN/A
EBIT growth 5Y-5.23%
EBIT Next Year139.81%
EBIT Next 3Y45.26%
EBIT Next 5Y29.25%
FCF growth 1Y113.48%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y658.03%
OCF growth 3YN/A
OCF growth 5Y-0.68%