| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 83 | 9.0x | 17.8x | Top tier | |
Growth | 49 | 6.2% | 7.1% | Around median | |
Quality | 58 | 8.8% | 4.5% | Around median | |
Safety | 18 | 5.8x | 2.6x | Bottom tier | |
Capital Return | 12 | — | 2.12% | Bottom tier | |
Momentum | 12 | -21.9% | 2.9% | Bottom tier | |
Sentiment | 84 | 12 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Norwegian Cruise Line Holdings operates a cruise portfolio comprising three brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. Norwegian targets families seeking a premium experience and experienced travelers within a segment the company estimates at more than 35 million consumers, while Oceania focuses on luxury and Regent on ultra-luxury. The business generates revenue from cruise sales and the management of pricing and occupancy, alongside guest spending onboard and paid experiences at destinations such as Great Stirrup Cay; management confirmed during the July 30, 2026 call that onboard spending remained strong.
In Q2 of fiscal 2026, the top line increased 5%, supported by higher capacity days, while net yield declined 2.6% and adjusted net cruise cost excluding fuel decreased 0.5%. The company recorded adjusted earnings before interest, taxes, depreciation, and amortization of $666 million, exceeding its guidance by approximately $34 million, while adjusted net income reached $222 million and adjusted earnings per share were $0.48, or $0.10 above guidance. The context did not include a revenue figure or gross margin for the quarter, but the profitability results show that cost control partially offset weaker yield.
The portfolio is divided between the flagship Norwegian brand and the two luxury brands, Oceania and Regent, and the execution problems described by management are concentrated in Norwegian rather than across all three brands. For historical comparison only, EDGAR data show revenue of $5.4 billion and net income of $759.9 million in fiscal 2017, followed by revenue of $1.3 billion and net income of $103.2 million in Q1 of fiscal 2018. The provided data do not include recent figures breaking down revenue or earnings by brand.
Automated analysis for informational purposes only — not investment advice.
The average analyst target is $22.38, compared with a wide target range of $16 to $45 and an overall consensus of “Buy”; the average is approximately 18% below the 52-week range high of $27.18, while the highest target is approximately 66% above that high. Conversely, Mizuho's downgrade to “Neutral” on August 19, 2026 and the wide gap between targets reflect leverage and financing risks and weak yields, and the provided data do not include a price-to-earnings ratio that could serve as an additional valuation anchor.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Management attributed most of the weakness to internal execution problems in marketing and demand generation at the Norwegian brand, rather than to a collapse in cruise demand overall. The company expects net yield to decline approximately 5% in fiscal 2026, after falling 2.6% in Q2. The pressure intensifies to an expected decline of 8.9% in Q3 and 6.5% in Q4, with the booked position remaining below optimal levels.
The company began applying a baseloading approach through more competitive prices earlier in the booking curve, instead of holding prices high for an extended period and then resorting to discounts close to departure. The initiatives were applied to selected 2027 sailings and open 2028 inventory, and new Norwegian sailings for 2028 and beyond will be managed this way from the outset. Management expects the first half of 2027 to remain weak, particularly Q1, before a gradual improvement in the second half.
Great Tides Waterpark officially opened on September 4, 2026 after a preview period announced by management during the July 30 call. The park spans approximately 6 acres and includes 19 slides, a 170-foot tower, and a rapid river more than 800 feet long, alongside the 1.4-acre Great Life Lagoon. The company aims to increase visitor numbers, expand paid experiences, and improve access through the pier, but it did not provide a specific figure for the project's contribution to 2027 yields.
The plan announced on August 24, 2026 includes investing $20 billion and adding 16 ships through 2037, while retiring five older ships between 2026 and 2028. The company expects to end fiscal 2026 with net leverage exceeding six times, while Mizuho estimated a potential funding gap of approximately $1.3 billion over 18 months. Conversely, there are no major debt maturities before 2030, and management expects new-ship and growth expenditures to decline by approximately $1 billion annually as deliveries moderate in 2028 and 2029.
The company identified an additional $100 million in annualized cash savings and benefits in Q2 of fiscal 2026, on top of $125 million announced in the previous quarter. Including approximately $300 million from 2024–2026 initiatives, identified savings over three years exceeded $500 million. Cost control helped reduce adjusted net cruise cost excluding fuel by 0.5% in Q2, but most of the new initiative relates to capital expenditures, with a portion related to salaries and benefits.
The analyst consensus is “Buy,” with an average target of $22.38, a lowest target of $16, and a highest target of $45. The average target is below the 52-week range high of $27.18, while the highest target exceeds the historical range high by a substantial margin. However, Mizuho downgraded the stock to “Neutral” on August 19, 2026 due to a potential $1.3 billion funding gap, so the wide range of targets reflects sharp disagreement over the turnaround path and leverage reduction.
