Norwegian Cruise Line Holdings
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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 38 days ago. More info.
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NCLH Share Price and Events
7 Day Returns
1 Year Returns
NCLH Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Norwegian Cruise Line Holdings (NCLH) | 0.8% | -4.6% | -3.3% | -0.5% | 22.8% | 67.4% |
| US Hospitality | 1.6% | -0.6% | 1.2% | -10.8% | 40.4% | 20% |
| US Market | 0.5% | -0.1% | 1% | 0.8% | 37.5% | 37.5% |
1 Year Return vs Industry and Market
- NCLH outperformed the Hospitality industry which returned -10.8% over the past year.
- NCLH underperformed the Market in United States of America which returned 0.8% over the past year.
NCLH Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Norwegian Cruise Line Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 16 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 10.1% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Hospitality Unlevered Beta | Simply Wall St/ S&P Global | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.92 (1 + (1- 21%) (58%)) |
1.229 |
| 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)
= 2.73% + (1.229 * 5.96%) |
10.05% |
Discounted Cash Flow Calculation for NYSE:NCLH 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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 10.05%) |
|
|---|---|---|---|
| 2019 | 338.92 | Analyst x5 | 307.95 |
| 2020 | 1,057.57 | Analyst x6 | 873.16 |
| 2021 | 1,121.03 | Est @ 6% | 841.00 |
| 2022 | 304.00 | Analyst x1 | 207.23 |
| 2023 | 319.26 | Est @ 5.02% | 197.75 |
| 2024 | 333.09 | Est @ 4.33% | 187.47 |
| 2025 | 345.92 | Est @ 3.85% | 176.90 |
| 2026 | 358.08 | Est @ 3.52% | 166.39 |
| 2027 | 369.83 | Est @ 3.28% | 156.15 |
| 2028 | 381.35 | Est @ 3.11% | 146.30 |
| Present value of next 10 years cash flows | $3,260.29 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $381.35 × (1 + 2.73%) ÷ (10.05% – 2.73%) |
$5,348.71 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $5,348.71 ÷ (1 + 10.05%)10 |
$2,051.99 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $3,260.29 + $2,051.99 |
$5,312.28 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $5,312.28 / 215.40 |
$24.66 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $24.66 |
| Current discount | Discount to share price of
$54.28
= -1 x ($54.28 - $24.66) / $24.66 |
-120.1% |
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.
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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $4.40 |
| NYSE:NCLH Share Price ** | NYSE (2019-06-14) in USD | $54.28 |
| United States of America Hospitality Industry PE Ratio | Median Figure of 74 Publicly-Listed Hospitality Companies | 22.39x |
| United States of America Market PE Ratio | Median Figure of 3,094 Publicly-Listed Companies | 17.69x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Norwegian Cruise Line Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:NCLH Share Price ÷ EPS (both in USD) = 54.28 ÷ 4.40 |
12.34x |
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 US Hospitality industry average.
- Norwegian Cruise Line Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Norwegian Cruise Line Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 12.34x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts |
10.7%per year |
| United States of America Hospitality Industry PEG Ratio | Median Figure of 55 Publicly-Listed Hospitality Companies | 1.94x |
| United States of America Market PEG Ratio | Median Figure of 2,125 Publicly-Listed Companies | 1.52x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 12.34x ÷ 10.7% |
1.16x |
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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $27.42 |
| NYSE:NCLH Share Price * | NYSE (2019-06-14) in USD | $54.28 |
| United States of America Hospitality Industry PB Ratio | Median Figure of 112 Publicly-Listed Hospitality Companies | 2.25x |
| United States of America Market PB Ratio | Median Figure of 5,244 Publicly-Listed Companies | 1.79x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:NCLH Share Price ÷ Book Value per Share (both in USD) = 54.28 ÷ 27.42 |
1.98x |
* 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 good value based on assets compared to the US Hospitality industry average.
Value checks
We assess Norwegian Cruise Line Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check) Norwegian Cruise Line Holdings has a total score of 3/6, 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.
NCLH Future Performance
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!
Earnings growth vs Low Risk Savings
- Norwegian Cruise Line Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Norwegian Cruise Line Holdings's earnings growth is positive but not above the United States of America market average.
- Norwegian Cruise Line Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:NCLH Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts | 10.7% |
| NYSE:NCLH Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts | 7.2% |
| United States of America Hospitality Industry Earnings Growth Rate | Market Cap Weighted Average | 16.5% |
| United States of America Hospitality Industry Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 7,896 | 2,224 | 1,431 | 1 |
| 2021-12-31 | 7,363 | 2,107 | 1,216 | 6 |
| 2020-12-31 | 7,102 | 2,131 | 1,135 | 16 |
| 2019-12-31 | 6,415 | 1,863 | 997 | 16 |
| 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.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
All data from Norwegian Cruise Line Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 | 5.33 | 5.70 | 5.12 | 5.00 |
| 2019-12-31 | 4.61 | 4.82 | 4.34 | 5.00 |
| 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%).
Future performance checks
We assess Norwegian Cruise Line Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Norwegian Cruise Line Holdings has a total score of 1/6, 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.
NCLH 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
Past Earnings growth analysis
- 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 US Hospitality industry average in the past year (21.1% vs 1%).
Earnings and Revenue History
All data from Norwegian Cruise Line Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 US 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).
Past performance checks
We assess Norwegian Cruise Line Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
NCLH 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.
- 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
Assets
Liabilities and shares
- 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.
All data from Norwegian Cruise Line Holdings Company Filings, last reported 2 months ago.
| 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 (110.8%) 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 110.8% today).
- Debt is well covered by operating cash flow (30.6%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
Financial health checks
We assess Norwegian Cruise Line Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Norwegian Cruise Line Holdings has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
NCLH 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
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
- 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.
| 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 16 Analyst Estimates (S&P Global) | See Below |
| United States of America Hospitality Industry Average Dividend Yield | Market Cap Weighted Average of 47 Stocks | 2.8% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2011 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| 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 | 0.22 | 8.00 |
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.
Income/ dividend checks
We assess Norwegian Cruise Line Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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.
NCLH Management
CEO
| COMPENSATION | $22,593,061 |
| AGE | 63 |
| TENURE AS CEO | 4.4 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 States of America.
Management Team Tenure
Average tenure and age of the Norwegian Cruise Line Holdings management team in years:
- The tenure for the Norwegian Cruise Line Holdings management team is about average.
Management Team
Frank Del Rio
President
$23M
63
4.4 yrs
Mark Kempa
Executive VP & CFO
$4M
46
1.3 yrs
T. Lindsay
Executive Vice President of Vessel Operations
$5M
60
4.4 yrs
Andy Stuart
President & CEO of Norwegian Brand
$5M
55
4.3 yrs
Jason Montague
President & CEO of Regent brand
$5M
44
2.8 yrs
Faye Ashby
Senior VP & Chief Accounting Officer
46
3.3 yrs
Andrea DeMarco
Vice President of Investor Relations & Corporate Communications
Dan Farkas
Executive VP
49
11.3 yrs
Yucheng Xiang
Managing Director of China operations
David Herrera
Senior Vice President of Strategy & Corporate Development
1.3 yrs
Board of Directors Tenure
Average tenure and age of the Norwegian Cruise Line Holdings board of directors in years:
- The average tenure for the Norwegian Cruise Line Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors
Russell Galbut
Chairman of the Board
$157K
65
1 yrs
Frank Del Rio
President
$23M
63
3.8 yrs
Bob Binder
Vice Chairman of Oceania Cruises & Regent and CEO & President of Oceania Cruises
$4M
54
4.1 yrs
John Chidsey
Independent Director
$165K
55
6.2 yrs
Stella David
Independent Director
$100K
56
2.4 yrs
Pamela Thomas-Graham
Independent Director
$99K
55
1.2 yrs
Mary Landry
Independent Director
$63K
61
1 yrs
Who owns this company?
Recent Insider Trading
- Norwegian Cruise Line Holdings insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 21. May 19 | Sell | Jason Montague | Individual | 17. May 19 | 17. May 19 | -10,805 | $57.50 | $-621,288 | ||
| 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 | ||
Management checks
We assess Norwegian Cruise Line Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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.
NCLH News
Simply Wall St News
Is Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) Investing Effectively In Its Business?
The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Norwegian Cruise Line Holdings: 0.098 = US$1.2b ÷ (US$16b - US$3.4b) (Based on the trailing twelve months to March 2019.) So, Norwegian Cruise Line Holdings has an ROCE of 9.8%. … View our latest analysis for Norwegian Cruise Line Holdings Is Norwegian Cruise Line Holdings's ROCE Good? … What Are Current Liabilities, And How Do They Affect Norwegian Cruise Line Holdings's ROCE?
Simply Wall St - – Full articleWill Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH) Earnings Grow In The Year Ahead?
Check out our latest analysis for Norwegian Cruise Line Holdings Exciting times ahead? … For Norwegian Cruise Line Holdings, there are three fundamental factors you should further research: Financial Health: Does it have a healthy balance sheet? … The intrinsic value infographic in our free research report helps visualize whether Norwegian Cruise Line Holdings is currently mispriced by the market.
Simply Wall St - – Full articleDoes Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH) CEO Pay Compare Well With Peers?
Check out our latest analysis for Norwegian Cruise Line Holdings How Does Frank Del Rio's Compensation Compare With Similar Sized Companies? … Thus we can conclude that Frank Del Rio receives more in total compensation than the median of a group of large companies in the same market as Norwegian Cruise Line Holdings Ltd.. … If you think CEO compensation levels are interesting you will probably really like this free visualization of insider trading at Norwegian Cruise Line Holdings.
Simply Wall St - – Full articleRead This Before You Buy Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) Because Of Its P/E Ratio
We'll apply a basic P/E ratio analysis to Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH), to help you decide if the stock is worth further research. … Norwegian Cruise Line Holdings has a P/E ratio of 13.27, based on the last twelve months. … How Do I Calculate Norwegian Cruise Line Holdings's Price To Earnings Ratio
Simply Wall St - – Full articleIs Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH) Balance Sheet Strong Enough To Weather A Storm?
There are a number of reasons that attract investors towards large-cap companies such as Norwegian Cruise Line Holdings Ltd. … This article will examine Norwegian Cruise Line Holdings’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … View our latest analysis for Norwegian Cruise Line Holdings
Simply Wall St - – Full articleCan Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) Maintain Its Strong Returns?
We'll use ROE to examine Norwegian Cruise Line Holdings Ltd. … Norwegian Cruise Line Holdings has a ROE of 16%, based on the last twelve months. … View our latest analysis for Norwegian Cruise Line Holdings?
Simply Wall St - – Full articleCan You Imagine How Norwegian Cruise Line Holdings's (NYSE:NCLH) Shareholders Feel About The 76% Share Price Increase?
For example, the Norwegian Cruise Line Holdings Ltd. … During five years of share price growth, Norwegian Cruise Line Holdings achieved compound earnings per share (EPS) growth of 54% per year. … It is of course excellent to see how Norwegian Cruise Line Holdings has grown profits over the years, but the future is more important for shareholders
Simply Wall St - – Full articleDoes Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH) Past Performance Indicate A Stronger Future?
When Norwegian Cruise Line Holdings Ltd. … Understanding how Norwegian Cruise Line Holdings performed requires a benchmark rather than trying to assess a standalone number at one point in time. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 27%, indicating the rate at which NCLH is growing has slowed down
Simply Wall St - – Full articleWill Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH) Earnings Grow In The Next Couple Of Years?
Norwegian Cruise Line Holdings Ltd.'s (NYSE:NCLH) released its most recent earnings update in December 2018, whicha
Simply Wall St - – Full articleWhat You Need To Know About Norwegian Cruise Line Holdings Ltd.’s (NYSE:NCLH) Cash Situation
I’ve analysed below, the health and outlook of Norwegian Cruise Line Holdings’s cash flow, which will help you understand the stock from a cash standpoint. … Is Norwegian Cruise Line Holdings generating enough cash. … Norwegian Cruise Line Holdings generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating.
Simply Wall St - – Full articleNCLH 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. |
| NCLH | |
| Exchange: | NYSE |
| Founded: | 1966 |
| $11,691,662,637 | |
| 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
Industry
| Hotels, Resorts and Cruise Lines | |
| Consumer Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/17 00:39 |
| End of day share price update: | 2019/06/14 00:00 |
| Last estimates confirmation: | 2019/06/13 |
| 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.
