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Norwegian Cruise Line (NCLH) Cash Flow Waterfall

Trace Norwegian Cruise Line's cash from operations down to free cash flow, then see where FCF goes — capex, buybacks, dividends, and debt repayment.

TTM

Operating CF

$2.22B

Capex

−$3.17B

Free Cash Flow

−$949.08M

FCF Margin

-42.7%

Cash flow waterfall for Norwegian Cruise Line (NCLH) — TTM through Q1 2026

Free cash flow: −$949.08M

Cash flow breakdown for Norwegian Cruise Line (NCLH) — TTM through Q1 2026

  • Operating Cash Flow$2.22B
  • Capital Expenditure−$3.17B
  • Free Cash Flow−$949.08M
  • Other Investing−$1.22M
  • Net Debt Change$402.27M
  • Other Financing & FX$548.71M
  • Net Cash Increase$688.00K
Want to see what drove the FCF change?Free Cash Flow Bridge

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