What is the 13F Pro Quality Score for NCLH?

13F Pro ranks Norwegian Cruise Line Holdings Ltd. (NCLH) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NCLH's current score at https://13fpro.ai/research/NCLH (free sign-up required for the full ranking).

Where does 13F Pro source NCLH data?

All Norwegian Cruise Line Holdings Ltd. fundamentals and ownership data come directly from SEC EDGAR. Norwegian Cruise Line Holdings Ltd. files with the SEC under CIK 1513761. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NCLH in?

Norwegian Cruise Line Holdings Ltd. (NCLH) is classified in the Industrials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/industrials.

How often is NCLH research updated on 13F Pro?

NCLH's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Norwegian Cruise Line Holdings Ltd.(NCLH)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Pending next ranking run

This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

NCLH Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Norwegian Cruise Line Holdings Ltd. (NCLH), a Industrials sector company. NCLH is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), Norwegian Cruise Line Holdings Ltd. reports quarterly revenue of $2.3B, net income of $104.7M, an operating margin of 10.0%. Top institutional holders of NCLH by reported 13-F value include BlackRock,, Capital International Investors, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. NCLH trades on the NYSE exchange and files with the SEC under CIK 1513761. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NCLH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Norwegian Cruise Line Holdings Ltd. directly from SEC EDGAR.

Revenue

Q1 2026

$2.3B

Net Income

Q1 2026

$104.7M

Free Cash Flow

Q1 2026

$-625.2M

Operating Margin

Q1 2026

10.0%

ROIC

Q1 2026

1.4%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+95.7% YoY

$9.48BFY 2024

FY19 $6.46BFY20 $1.28BFY22 $4.84BFY24 $9.48B

Net Income

+140.1% YoY

$910.3MFY 2024

FY19 $930.2MFY20 $-4.01BFY22 $-2.27BFY24 $910.3M

Operating Income

+194.5% YoY

$1.47BFY 2024

FY19 $1.18BFY20 $-3.48BFY22 $-1.55BFY24 $1.47B

EPS (Diluted)

+134.9% YoY

$1.89FY 2024

FY19 $4.30FY20 $-15.75FY22 $-5.41FY24 $1.89

Total Assets

+7.6% YoY

$19.97BFY 2024

FY19 $16.68BFY20 $18.40BFY22 $18.56BFY24 $19.97B

Total Debt

-3.8% YoY

$13.10BFY 2024

FY19 $6.80BFY20 $11.81BFY22 $13.62BFY24 $13.10B

Op. Cash Flow

+876.0% YoY

$2.05BFY 2024

FY19 $1.82BFY20 $-2.56BFY22 $210.0MFY24 $2.05B

Metric	FY 2024	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Revenue	$9.48B +95.7%	$4.84B +278.4%	$1.28B -80.2%	$6.46B +6.7%	$6.06B +12.2%	$5.40B
Net Income	$910.3M +140.1%	$-2.27B +43.4%	$-4.01B -531.3%	$930.2M -2.6%	$954.8M +25.7%	$759.9M
Operating Income	$1.47B +194.5%	$-1.55B +55.5%	$-3.48B -395.7%	$1.18B -3.4%	$1.22B +16.2%	$1.05B
EPS (Diluted)	$1.89 +134.9%	$-5.41 +65.7%	$-15.75 -466.3%	$4.30 +1.2%	$4.25 +28.4%	$3.31
Total Assets	$19.97B +7.6%	$18.56B +0.9%	$18.40B +10.3%	$16.68B +9.7%	$15.21B +7.9%	$14.09B
Total Debt	$13.10B -3.8%	$13.62B +15.4%	$11.81B +73.6%	$6.80B +4.8%	$6.49B +2.9%	$6.31B
Operating Cash Flow	$2.05B +876.0%	$210.0M +108.2%	$-2.56B -240.3%	$1.82B -12.2%	$2.08B +29.6%	$1.60B

AI Insight: NCLH Ratio Trends

Debt reduction is the clearest positive — D/E nearly halved from 19.39 in Q2 2024 to 6.23 in Q1 2026 — but profitability remains heavily seasonal and thin outside peak summer quarters.

• D/E ratio fell sharply from 19.39 in Q2 2024 to 6.23 in Q1 2026, signaling meaningful deleveraging over five quarters.

• Operating margin in peak Q3 improved slightly from 24.6% in Q3 2024 to 25.5% in Q3 2025, suggesting modest seasonal pricing power.

• Off-peak quarters remain structurally weak: Q4 2025 operating margin fell to 8.3% from 10.2% in Q4 2024, and Q1 2026 sits at 10.0%.

• TTM net profit margin is just 5.7%, dragged down by near-zero or negative NPM in Q4 2025 (0.6%) and Q1 2025 (-1.9%).

⚠ ROIC in Q4 2025 dropped to 4.4%, the lowest quarterly reading in the dataset — below cost of capital for most capital structures.

⚠ TTM ROIC of 9.1% is below Q2 2024's 9.7%, despite significant deleveraging — monitor whether asset returns improve as debt costs ease.

⚠ Net margin volatility is extreme: ranging from -1.9% to 16.9% across quarters, making annualized profitability forecasts unreliable.

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Available Research

13F Pro tracks comprehensive data for Norwegian Cruise Line Holdings Ltd. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NCLH

BlackRock, Inc.
$645.7M34,530,108 sh
Capital International Investors
$560.7M29,981,899 sh
VANGUARD CAPITAL MANAGEMENT LLC
$553.8M29,617,015 sh
UBS Group AG
$410.5M21,954,134 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$368.4M19,703,119 sh
GOLDMAN SACHS GROUP INC
$335.0M17,914,927 sh
STATE STREET CORP
$304.0M16,258,754 sh
BARCLAYS PLC
$282.4M15,102,641 sh
ARIEL INVESTMENTS, LLC
$274.2M14,661,579 sh
Elliott Investment Management L.P.
$246.6M13,186,000 sh

Fund	Value	Shares
BlackRock, Inc.	$645.7M	34,530,108
Capital International Investors	$560.7M	29,981,899
VANGUARD CAPITAL MANAGEMENT LLC	$553.8M	29,617,015
UBS Group AG	$410.5M	21,954,134
VANGUARD PORTFOLIO MANAGEMENT LLC	$368.4M	19,703,119
GOLDMAN SACHS GROUP INC	$335.0M	17,914,927
STATE STREET CORP	$304.0M	16,258,754
BARCLAYS PLC	$282.4M	15,102,641
ARIEL INVESTMENTS, LLC	$274.2M	14,661,579
Elliott Investment Management L.P.	$246.6M	13,186,000

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Is NCLH a good stock to buy?

13F Pro's AI-powered analysis of Norwegian Cruise Line Holdings Ltd. (NCLH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NCLH are available on the NCLH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own NCLH?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NCLH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Norwegian Cruise Line Holdings Ltd.'s investment landscape.