Question 1

What is Norwegian Cruise Line's P/E ratio?

Accepted Answer

Norwegian Cruise Line (NCLH) P/E ratio is 15.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Norwegian Cruise Line?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Norwegian Cruise Line specifically, the relevant sector benchmark is the current sector median of 21.9×.

Question 5

Is Norwegian Cruise Line's P/E ratio high or low?

Accepted Answer

Norwegian Cruise Line's P/E ratio of 15.4× is below its own 5-year average of 20.3× and below the sector median of 21.9×. That places the current reading at the 36th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Norwegian Cruise Line's historical P/E ratio range?

Accepted Answer

In the available daily series, Norwegian Cruise Line (NCLH) P/E ratio has ranged from a low of 8.8× in 2025 to a high of 319.5× in 2010. The 5-year average is 20.3× and the 5-year median is 16.6×.

Question 7

What was Norwegian Cruise Line's P/E ratio in 2025?

Accepted Answer

Norwegian Cruise Line (NCLH) P/E ratio at the end of 2025 was 24.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Norwegian Cruise Line's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$10.16B	$423.25M	24.0×	+11.6×	Dec 31, 2025
2024	$11.31B	$910.26M	12.4×	-38.9×	Dec 31, 2024
2023	$8.53B	$166.18M	51.3×	—	Dec 31, 2023
2022	$5.16B	−$2.27B	—	—	Dec 31, 2022
2021	$8.12B	−$4.51B	—	—	Dec 31, 2021
2020	$7.47B	−$4.01B	—	—	Dec 31, 2020
2019	$12.54B	$930.23M	13.5×	+3.7×	Dec 31, 2019
2018	$9.39B	$954.84M	9.8×	-6.2×	Dec 31, 2018
2017	$12.18B	$759.87M	16.0×	+0.8×	Dec 31, 2017
2016	$9.66B	$633.09M	15.3×	-16.1×	Dec 31, 2016
2015	$13.41B	$427.14M	31.4×	+2.0×	Dec 31, 2015
2014	$9.95B	$338.35M	29.4×	-44.2×	Dec 31, 2014
2013	$7.48B	$101.71M	73.6×	+47.2×	Dec 31, 2013
2012	$4.44B	$168.56M	26.4×	-14.1×	Dec 31, 2012
2011	$4.97B	$122.94M	40.4×	-179.3×	Dec 31, 2011
2010	$4.97B	$22.62M	219.7×	+145.8×	Dec 31, 2010
2009	$4.97B	$67.23M	73.9×	—	Dec 31, 2009


Ulta Beauty (ULTA)	19.6×
Las Vegas Sands (LVS)	19.6×
Avery Dennison (AVY)	19.3×
Williams-Sonoma (WSM)	19.1×
Expedia Group (EXPE)	18.9×
Etsy (ETSY)	16.9×
Ball (BALL)	16.8×
Royal Caribbean Cruises (RCL)	16.6×
Lennar (LEN)	15.6×
GameStop (GME)	15.6×
NVR (NVR)	14.8×
Masco (MAS)	14.6×
LKQ (LKQ)	14.5×
Mohawk Industries (MHK)	14.3×
Carnival Corporation (CCL)	14.0×
Deckers Outdoor (DECK)	13.8×
Weyco Group (WEYS)	12.8×
D.R. Horton (DHI)	12.5×
Best Buy Co. (BBY)	11.1×
PulteGroup (PHM)	11.0×
PDD Holdings (PDD)	10.7×
Toll Brothers (TOL)	10.5×
Lululemon Athletica (LULU)	10.2×
Leggett & Platt (LEG)	6.1×
Sonoco Products (SON)	5.1×

P/E Ratio for Norwegian Cruise Line (NCLH)

P/E Ratio daily chart for Norwegian Cruise Line (NCLH)

Historical P/E Ratio for Norwegian Cruise Line (NCLH) from 2009 to 2025

About P/E Ratio at Norwegian Cruise Line (NCLH)

Norwegian Cruise Line P/E Ratio by Year

Norwegian Cruise Line P/E Ratio 2025: 24.0×

Norwegian Cruise Line P/E Ratio 2024: 12.4×

Norwegian Cruise Line P/E Ratio 2023: 51.3×

Norwegian Cruise Line P/E Ratio 2019: 13.5×

Norwegian Cruise Line P/E Ratio 2018: 9.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Norwegian Cruise Line (NCLH) Key Financials

P/E Ratio daily chart for Norwegian Cruise Line (NCLH)

Historical P/E Ratio for Norwegian Cruise Line (NCLH) from 2009 to 2025

About P/E Ratio at Norwegian Cruise Line (NCLH)

Norwegian Cruise Line P/E Ratio by Year

Norwegian Cruise Line P/E Ratio 2025: 24.0×

Norwegian Cruise Line P/E Ratio 2024: 12.4×

Norwegian Cruise Line P/E Ratio 2023: 51.3×

Norwegian Cruise Line P/E Ratio 2019: 13.5×

Norwegian Cruise Line P/E Ratio 2018: 9.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Norwegian Cruise Line's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Norwegian Cruise Line?

+Is Norwegian Cruise Line's P/E ratio high or low?

+What is Norwegian Cruise Line's historical P/E ratio range?

+What was Norwegian Cruise Line's P/E ratio in 2025?

+Why does Norwegian Cruise Line's P/E ratio change over time?

Norwegian Cruise Line (NCLH) Key Financials