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Norwegian Cruise Line Holdings

LSE:0UC3
Snowflake Description

Proven track record with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0UC3
LSE
$12B
Market Cap
  1. Home
  2. GB
  3. Consumer Services
Company description

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in the United States and internationally. The last earnings update was 11 days ago. More info.


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0UC3 Share Price and Events
7 Day Returns
0%
LSE:0UC3
2.6%
GB Hospitality
1.5%
GB Market
1 Year Returns
3.5%
LSE:0UC3
-9.1%
GB Hospitality
-6.3%
GB Market
0UC3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norwegian Cruise Line Holdings (0UC3) 0% -6.9% - 3.5% - -
GB Hospitality 2.6% -0.3% -2.5% -9.1% 9.8% 29.5%
GB Market 1.5% -2.1% 1.8% -6.3% 15.4% 2%
1 Year Return vs Industry and Market
  • 0UC3 outperformed the Hospitality industry which returned -9.1% over the past year.
  • 0UC3 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -6.3% over the past year.
Price Volatility
0UC3
Industry
5yr Volatility vs Market

0UC3 Value

 Is Norwegian Cruise Line Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Norwegian Cruise Line Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Norwegian Cruise Line Holdings.

LSE:0UC3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0UC3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.932 (1 + (1- 21%) (55.46%))
1.228
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.228 * 5.96%)
8.54%

Discounted Cash Flow Calculation for LSE:0UC3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Norwegian Cruise Line Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

LSE:0UC3 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.54%)
2019 367.92 Analyst x5 338.96
2020 1,002.48 Analyst x5 850.88
2021 1,046.58 Est @ 4.4% 818.40
2022 304.00 Analyst x1 219.01
2023 314.48 Est @ 3.45% 208.73
2024 323.23 Est @ 2.78% 197.65
2025 330.71 Est @ 2.32% 186.31
2026 337.29 Est @ 1.99% 175.06
2027 343.22 Est @ 1.76% 164.12
2028 348.72 Est @ 1.6% 153.62
Present value of next 10 years cash flows $3,312.71
LSE:0UC3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $348.72 × (1 + 1.23%) ÷ (8.54% – 1.23%)
$4,824.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,824.76 ÷ (1 + 8.54%)10
$2,125.42
LSE:0UC3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,312.71 + $2,125.42
$5,438.14
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,438.14 / 215.40
$25.25
LSE:0UC3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0UC3 represents 0.97182x of NYSE:NCLH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97182x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 25.25 x 0.97182
$24.54
Value per share (USD) From above. $24.54
Current discount Discount to share price of $55.17
= -1 x ($55.17 - $24.54) / $24.54
-124.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Norwegian Cruise Line Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Norwegian Cruise Line Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norwegian Cruise Line Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0UC3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $4.40
NYSE:NCLH Share Price ** NYSE (2019-05-13) in USD $56.77
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio Median Figure of 34 Publicly-Listed Hospitality Companies 17.83x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 789 Publicly-Listed Companies 16.22x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Norwegian Cruise Line Holdings.

LSE:0UC3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NCLH Share Price ÷ EPS (both in USD)

= 56.77 ÷ 4.40

12.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norwegian Cruise Line Holdings is good value based on earnings compared to the GB Hospitality industry average.
  • Norwegian Cruise Line Holdings is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Norwegian Cruise Line Holdings's expected growth come at a high price?
Raw Data
LSE:0UC3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
11.1%per year
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio Median Figure of 28 Publicly-Listed Hospitality Companies 2.02x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 575 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

LSE:0UC3 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.91x ÷ 11.1%

1.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norwegian Cruise Line Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Norwegian Cruise Line Holdings's assets?
Raw Data
LSE:0UC3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $27.42
NYSE:NCLH Share Price * NYSE (2019-05-13) in USD $56.77
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio Median Figure of 54 Publicly-Listed Hospitality Companies 1.4x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.5x
LSE:0UC3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NCLH Share Price ÷ Book Value per Share (both in USD)

= 56.77 ÷ 27.42

2.07x

* Primary Listing of Norwegian Cruise Line Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norwegian Cruise Line Holdings is overvalued based on assets compared to the GB Hospitality industry average.
X
Value checks
We assess Norwegian Cruise Line Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Norwegian Cruise Line Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0UC3 Future Performance

 How is Norwegian Cruise Line Holdings expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Norwegian Cruise Line Holdings expected to grow at an attractive rate?
  • Norwegian Cruise Line Holdings's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Norwegian Cruise Line Holdings's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Norwegian Cruise Line Holdings's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0UC3 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0UC3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 11.1%
LSE:0UC3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 6.8%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 12.1%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0UC3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0UC3 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 7,762 2,265 1,514 2
2021-12-31 7,378 2,132 1,255 7
2020-12-31 7,128 2,160 1,143 17
2019-12-31 6,445 1,901 1,037 17
LSE:0UC3 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 6,165 2,000 970
2018-12-31 6,055 2,075 955
2018-09-30 5,923 1,946 899
2018-06-30 5,717 1,920 829
2018-03-31 5,539 1,777 801
2017-12-31 5,396 1,601 760
2017-09-30 5,272 1,511 733
2017-06-30 5,105 1,411 675
2017-03-31 4,947 1,345 622
2016-12-31 4,874 1,264 633
2016-09-30 4,786 1,158 599
2016-06-30 4,586 1,079 509

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norwegian Cruise Line Holdings's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • Norwegian Cruise Line Holdings's revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0UC3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Norwegian Cruise Line Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0UC3 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 5.82 5.82 5.82 1.00
2020-12-31 5.30 5.37 5.14 4.00
2019-12-31 4.75 4.78 4.72 4.00
LSE:0UC3 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 4.40
2018-12-31 4.28
2018-09-30 3.99
2018-06-30 3.66
2018-03-31 3.51
2017-12-31 3.33
2017-09-30 3.22
2017-06-30 2.97
2017-03-31 2.74
2016-12-31 2.79
2016-09-30 2.63
2016-06-30 2.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Norwegian Cruise Line Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Norwegian Cruise Line Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Norwegian Cruise Line Holdings has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0UC3 Past Performance

  How has Norwegian Cruise Line Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Norwegian Cruise Line Holdings's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Norwegian Cruise Line Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Norwegian Cruise Line Holdings's 1-year earnings growth is less than its 5-year average (21.1% vs 24.9%)
  • Norwegian Cruise Line Holdings's earnings growth has exceeded the GB Hospitality industry average in the past year (21.1% vs 12.8%).
Earnings and Revenue History
Norwegian Cruise Line Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Norwegian Cruise Line Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0UC3 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 6,165.35 969.85 918.71
2018-12-31 6,055.13 954.84 896.78
2018-09-30 5,923.49 899.01 874.00
2018-06-30 5,716.87 829.32 841.10
2018-03-31 5,538.80 801.12 809.26
2017-12-31 5,396.18 759.87 771.64
2017-09-30 5,271.76 733.31 742.06
2017-06-30 5,104.76 674.99 710.36
2017-03-31 4,947.49 621.77 664.13
2016-12-31 4,874.34 633.09 652.51
2016-09-30 4,785.73 599.17 625.30
2016-06-30 4,585.90 508.57 597.86
2016-03-31 4,484.50 521.82 577.98
2015-12-31 4,345.05 427.14 553.65
2015-09-30 4,097.43 363.22 522.13
2015-06-30 3,719.54 312.51 452.94
2015-03-31 3,400.04 265.63 408.74
2014-12-31 3,125.88 338.35 339.66
2014-09-30 2,937.32 400.05 286.08
2014-06-30 2,828.19 369.83 289.78
2014-03-31 2,706.69 249.38 280.81
2013-12-31 2,570.29 101.71 282.63
2013-09-30 2,473.12 66.68 297.36
2013-06-30 2,349.65 24.01 277.53
2013-03-31 2,288.45 68.88 265.23
2012-12-31 2,276.25 168.56 251.18
2012-09-30 2,261.67 165.56 248.92
2012-06-30 2,253.89 144.88 251.96

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Norwegian Cruise Line Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Norwegian Cruise Line Holdings used its assets more efficiently than the GB Hospitality industry average last year based on Return on Assets.
  • Norwegian Cruise Line Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Norwegian Cruise Line Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Norwegian Cruise Line Holdings has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0UC3 Health

 How is Norwegian Cruise Line Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Norwegian Cruise Line Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Norwegian Cruise Line Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Norwegian Cruise Line Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Norwegian Cruise Line Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Norwegian Cruise Line Holdings Company Filings, last reported 1 month ago.

LSE:0UC3 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,905.30 6,781.63 305.17
2018-12-31 5,963.00 6,492.09 164.37
2018-09-30 6,198.09 6,555.16 288.45
2018-06-30 5,686.79 6,828.99 205.63
2018-03-31 5,639.07 6,352.81 301.75
2017-12-31 5,749.77 6,308.79 176.19
2017-09-30 5,537.60 6,610.58 522.90
2017-06-30 4,991.75 6,686.27 219.32
2017-03-31 4,625.28 6,179.29 219.79
2016-12-31 4,537.73 6,403.17 128.35
2016-09-30 4,536.73 6,388.61 155.43
2016-06-30 4,118.36 6,561.25 145.96
2016-03-31 3,927.61 6,308.47 154.87
2015-12-31 3,780.88 6,405.01 115.94
2015-09-30 3,918.89 5,694.76 230.18
2015-06-30 3,740.46 5,774.13 172.96
2015-03-31 3,479.39 5,970.30 121.42
2014-12-31 3,518.81 6,092.69 84.82
2014-09-30 2,883.98 3,463.91 55.87
2014-06-30 2,714.78 3,509.03 63.48
2014-03-31 2,669.97 3,658.50 64.76
2013-12-31 2,631.27 3,130.87 56.47
2013-09-30 2,574.89 3,116.17 56.96
2013-06-30 2,384.29 3,191.21 82.84
2013-03-31 2,401.59 2,638.33 81.20
2012-12-31 2,018.78 2,985.35 45.50
2012-09-30 2,011.51 2,910.90 68.69
2012-06-30 1,845.05 2,973.22 65.70
  • Norwegian Cruise Line Holdings's level of debt (114.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (136.9% vs 114.8% today).
  • Debt is well covered by operating cash flow (29.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Norwegian Cruise Line Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Norwegian Cruise Line Holdings has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0UC3 Dividends

 What is Norwegian Cruise Line Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Norwegian Cruise Line Holdings dividends. Estimated to be 0.65% next year.
If you bought $2,000 of Norwegian Cruise Line Holdings shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Norwegian Cruise Line Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Norwegian Cruise Line Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0UC3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0UC3 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.38 5.00
2020-12-31 0.58 9.00
2019-12-31 0.15 9.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Norwegian Cruise Line Holdings has not reported any payouts.
  • Unable to verify if Norwegian Cruise Line Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Norwegian Cruise Line Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Norwegian Cruise Line Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Norwegian Cruise Line Holdings's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess Norwegian Cruise Line Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Norwegian Cruise Line Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norwegian Cruise Line Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0UC3 Management

 What is the CEO of Norwegian Cruise Line Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Frank Del Rio
COMPENSATION $22,593,061
AGE 63
TENURE AS CEO 4.3 years
CEO Bio

Mr. Frank J. Del Rio has been Chief Executive Officer and President at NCL Corporation Ltd. since January 8, 2015. Mr. Del Rio has been the Chief Executive Officer and President of Norwegian Cruise Line Holdings Ltd. since January 9, 2015. He co-founded Oceania Cruises, Inc. in October, 2002. He served as the Chairman and Chief Executive Officer at Prestige Cruises International, Inc., since October 2002. He served as Chairman and Chief Executive Officer at Prestige Cruise Holdings, Inc., the parent corporation of Oceania Cruises, Inc., Prestige Cruise Services (Europe) Limited and Regent Seven Seas Cruises UK Limited since October 2002. He was responsible for the financial and strategic development of Oceania Cruises and its sister brand, Regent Seven Seas Cruises. He has been an Administrator at Seven Seas Cruises S. DE R.L. since July 2009. He served as the Chief Executive Officer of Seven Seas Cruises S. DE R.L. since October 2002. He played a vital role in the development of Renaissance Cruises Inc., including as its Executive Vice President, Chief Financial Officer and Co-Chief Executive Officer from 1993 to April 2001. From 2003 to 2007, Mr. Del Rio was instrumental in the development and growth of Oceania Cruises. He has been the Chairman of Seven Seas Cruises S. DE R.L. since October 2002. He has been Director at NCL Corporation Ltd. since August 2015. He has been a Director of Norwegian Cruise Line Holdings Ltd. since August 4, 2015. He served as a Director at Med-Tek, LLC since April 2012. He is a Certified Public Accountant. He holds a B.S. in Accounting from the University of Florida.

CEO Compensation
  • Frank's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Frank's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Norwegian Cruise Line Holdings management team in years:

3
Average Tenure
49
Average Age
  • The tenure for the Norwegian Cruise Line Holdings management team is about average.
Management Team

Frank Del Rio

TITLE
President
COMPENSATION
$23M
AGE
63
TENURE
4.3 yrs

Mark Kempa

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
46
TENURE
1.2 yrs

T. Lindsay

TITLE
Executive Vice President of Vessel Operations
COMPENSATION
$5M
AGE
60
TENURE
4.3 yrs

Andy Stuart

TITLE
President & CEO of Norwegian Brand
COMPENSATION
$5M
AGE
55
TENURE
2.7 yrs

Jason Montague

TITLE
President & CEO of Regent brand
COMPENSATION
$5M
AGE
44
TENURE
2.7 yrs

Faye Ashby

TITLE
Senior VP & Chief Accounting Officer
AGE
46
TENURE
3.3 yrs

Andrea DeMarco

TITLE
Vice President of Investor Relations & Corporate Communications

Dan Farkas

TITLE
Executive VP
AGE
49
TENURE
11.3 yrs

Yucheng Xiang

TITLE
Managing Director of China operations

David Herrera

TITLE
Senior Vice President of Strategy & Corporate Development
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Norwegian Cruise Line Holdings board of directors in years:

3.9
Average Tenure
55.5
Average Age
  • The tenure for the Norwegian Cruise Line Holdings board of directors is about average.
Board of Directors

Russell Galbut

TITLE
Chairman of the Board
COMPENSATION
$157K
AGE
65
TENURE
0.9 yrs

Frank Del Rio

TITLE
President
COMPENSATION
$23M
AGE
63
TENURE
3.8 yrs

Bob Binder

TITLE
Vice Chairman of Oceania Cruises & Regent and CEO & President of Oceania Cruises
COMPENSATION
$4M
AGE
54
TENURE
4 yrs

John Chidsey

TITLE
Independent Director
COMPENSATION
$165K
AGE
55
TENURE
6.1 yrs

David Abrams

TITLE
Independent Director
COMPENSATION
$120K
AGE
51
TENURE
5.1 yrs

Chad Leat

TITLE
Independent Director
COMPENSATION
$160K
AGE
62
TENURE
3.5 yrs

Steve Martinez

TITLE
Director
AGE
49
TENURE
11.3 yrs

Adam Aron

TITLE
Director
COMPENSATION
$120K
AGE
63
TENURE
11.3 yrs

Stella David

TITLE
Independent Director
COMPENSATION
$100K
AGE
56
TENURE
2.3 yrs

Pamela Thomas-Graham

TITLE
Independent Director
COMPENSATION
$99K
AGE
55
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • Norwegian Cruise Line Holdings insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
28. Feb 19 Sell Harry Sommer Individual 27. Feb 19 27. Feb 19 -6,138 $55.01 $-337,651
27. Feb 19 Sell Daniel Farkas Individual 25. Feb 19 25. Feb 19 -10,200 $55.66 $-567,732
X
Management checks
We assess Norwegian Cruise Line Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Norwegian Cruise Line Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0UC3 News

Simply Wall St News

0UC3 Company Info

Description

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in the United States and internationally. The company operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers cruise itineraries ranging from a few days to 180-days calling on various locations, including destinations in Scandinavia, Russia, the Mediterranean, the Greek Isles, Alaska, Canada and New England, India and the rest of Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, South America, the Panama Canal, the Caribbean, and Harvest Caye. As of December 31, 2018, the company had 26 ships with approximately 50,400 berths. It distributes its products through retail/travel agents and international channel, as well as meetings, incentives, and charters. The company was founded in 1966 and is headquartered in Miami, Florida.

Details
Name: Norwegian Cruise Line Holdings Ltd.
0UC3
Exchange: LSE
Founded: 1966
$12,227,997,198
215,395,406
Website: http://www.ncl.com
Address: Norwegian Cruise Line Holdings Ltd.
7665 Corporate Center Drive,
Miami,
Florida, 33126,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NCLH New Ordinary Shares New York Stock Exchange US USD 18. Jan 2013
DB 1NC New Ordinary Shares Deutsche Boerse AG DE EUR 18. Jan 2013
LSE 0UC3 New Ordinary Shares London Stock Exchange GB USD 18. Jan 2013
WBAG NCLH New Ordinary Shares Wiener Boerse AG AT EUR 18. Jan 2013
BMV NCLH N New Ordinary Shares Bolsa Mexicana de Valores MX MXN 18. Jan 2013
Number of employees
Current staff
Staff numbers
33,200
Norwegian Cruise Line Holdings employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 22:52
End of day share price update: 2019/05/13 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.