Norwegian Cruise Line vs Royal Caribbean Group NCLH vs RCL
Norwegian Cruise Line Holdings and Royal Caribbean Group on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
What differs most
- Market value: Royal Caribbean Group $75.05B, Norwegian Cruise Line $7.00B.
- Price / sales: Royal Caribbean Group 4.0×, Norwegian Cruise Line 0.7×.
- Net margin: Royal Caribbean Group 23.6%, Norwegian Cruise Line 7.5%.
- Debt / equity: Norwegian Cruise Line 5.8×, Royal Caribbean Group 2.3×.
- Norwegian Cruise Line paid no dividend in the last twelve months.
Price return
2025-10-26 → 2026-10-26
NCLH−35.0%
RCL−11.3%
Prices at the close on 2026-10-26
RCL
Royal Caribbean Group
$280.60
Profile
latestSector
Consumer Cyclical
Consumer Cyclical
Industry
Travel Services
Travel Services
Market value
$7.00B
$75.05B
Enterprise value
$21.82B
$97.69B
Employees
44,500
107,975
Revenue per employee (TTM)
$228K
$173K
Our models
nightlythe valuation on each stock's pagePrice vs model
19% undervalued vs model
131% overvalued vs model
Model range
$15.46–24.86
$69.99–243
Models in the headline
1
1
FCF growth priced in, at a 10% return
—
35.8%
Every model, its assumptions and its range: NCLH valuation · RCL valuation. The growth priced in, at any return: NCLH reverse DCF · RCL reverse DCF.
Trading
close 2026-10-26Last close
$15.25
$280.60
52-week high
$25.02
$348.03
52-week low
$14.12
$230.30
Price vs 52-week high
−39.0%
−19.4%
Price vs 52-week low
+8.0%
+21.8%
Average daily volume / shares
3.7%
0.9%
Beta
1.96
1.82
Returns
to 2026-10-261 month
+4.4%
+15.6%
3 months
−21.3%
−4.4%
6 months
−17.6%
+5.6%
Year to date
−31.7%
+0.6%
1 year
−35.0%
−11.3%
1 year, dividends added
−35.0%
−9.6%
2 years
−34.2%
+39.7%
Valuation
price × TTM to Jun 2026P/E (TTM)
9.3×
17.3×
P/E on consensus EPS (next FY)
9.9×
15.8×
Price / sales
0.7×
4.0×
EV / sales
2.1×
5.2×
EV / EBITDA
5.3×
13.3×
Price / book
2.7×
7.3×
Price / free cash flow (FY)
n/m
60.7×
Free-cash-flow yield (FY)
−16.7%
1.6%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+2.3%
+9.1%
Revenue, 3-year CAGR
26.6%
26.6%
Revenue, 5-year CAGR
50.3%
52.0%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+71.4%
+14.0%
EPS, 3-year CAGR
—
—
Free cash flow, 3-year CAGR
—
—
Diluted shares, 3-year change
+9.5%
+7.1%
Profitability
TTM to Jun 2026Gross margin (FY)†
32.0%
46.8%
Operating margin
15.4%
27.3%
EBITDA margin
40.3%
39.2%
Net margin
7.5%
23.6%
Free-cash-flow margin (FY)
−11.9%
6.9%
Return on equity
29.6%
43.0%
Return on assets
3.2%
9.9%
Asset turnover
0.42
0.42
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
MRQ Jun 2026Cash
$218.1M
$875.0M
Total debt
$15.03B
$23.52B
Net debt
$14.82B
$22.64B
Debt / equity
5.8×
2.3×
Net debt / EBITDA (TTM)
3.6×
3.1×
Interest coverage (FY)
0.7×
4.9×
Current ratio (FY)
0.21
0.18
Dividends
trailing 12 monthsDividend yield
0.0%
2.0%
Dividends per share
$0.00
$5.50
Payout ratio (of TTM EPS)
—
34.0%
Dividend per share, 5-year CAGR
—
—
Frequency
—
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
3
2
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$0
$0
Analyst upgrades
0
2
Analyst downgrades
2
0
Statements
income TTM to Jun 2026 · cash flow FY2025Revenue
$10.15B
$18.68B
EBITDA
$4.10B
$7.32B
Operating income
$1.56B
$5.10B
Net income
$760.8M
$4.40B
EPS (diluted)
$1.63
$16.18
Operating cash flow
$2.09B
$6.46B
Capital expenditure
−$3.26B
−$5.23B
Free cash flow
−$1.17B
$1.24B
Dividends paid
$0
$264.0M
Keep comparing
Norwegian Cruise Line against
Royal Caribbean Group against
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.