How does Norwegian Cruise Line (NCLH) make money?

Norwegian Cruise Line (NCLH) generates revenue primarily from Passenger ticket, which accounted for 67.9% of total revenue in TTM through Q1 2026. The company reported $10.03B in revenue and converted 5.7% of it into net profit, equivalent to roughly $568.21M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Norwegian Cruise Line (NCLH)?

Norwegian Cruise Line (NCLH) reported a gross profit margin of 43% in TTM through Q1 2026, equivalent to $4.32B in gross profit on $10.03B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Norwegian Cruise Line (NCLH)?

Norwegian Cruise Line (NCLH) reported an operating profit margin of 15.9% in TTM through Q1 2026, equivalent to $1.59B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Norwegian Cruise Line (NCLH)?

Norwegian Cruise Line (NCLH) reported a net profit margin of 5.7% in TTM through Q1 2026, equivalent to $568.21M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Norwegian Cruise Line (NCLH) profitable?

Yes. Norwegian Cruise Line (NCLH) reported $568.21M in net income for TTM through Q1 2026, with a net profit margin of 5.7%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Norwegian Cruise Line (NCLH) spend on capital expenditures?

Norwegian Cruise Line (NCLH) spent $3.17B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 31.6% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Norwegian Cruise Line (NCLH) generate?

Norwegian Cruise Line (NCLH) generated −$949.08M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -9.5%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Norwegian Cruise Line (NCLH)?

Norwegian Cruise Line (NCLH) had an effective tax rate of 1.7% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Norwegian Cruise Line (NCLH)?

Norwegian Cruise Line (NCLH) reports revenue across 2 reportable product segments, led by Passenger ticket at 67.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Norwegian Cruise Line (NCLH) generate most of its revenue?

North America is the largest geographic market for Norwegian Cruise Line (NCLH), accounting for 59.5% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Norwegian Cruise Line Makes Money: 2026 Visual Revenue Map

Norwegian Cruise Line (NCLH) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 4, 2026).

Norwegian Cruise Line (NCLH) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Norwegian Cruise Line (NCLH) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Passenger ticket	$6.81B	67.9%
Onboard and other	$3.22B	32.1%
Total	$10.03B	100%

Passenger ticket$6.81B
Onboard and other$3.22B
Total$10.03B

Norwegian Cruise Line (NCLH) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Norwegian Cruise Line (NCLH), TTM through Q1 2026
Region	Revenue (USD)	% of total
North America	$5.97B	59.5%
Europe	$2.86B	28.5%
Asia Pacific	$957.70M	9.5%
Other Country	$247.43M	2.5%
Total	$10.03B	100%

North America
Europe
Asia Pacific
Other Country
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Norwegian Cruise Line (NCLH) reports revenue across 2 operating segments; the largest segment was Passenger ticket at 67.9%, followed by Onboard and other (32.1%). Separately, by end-market geography, North America accounted for 59.5% of revenue, followed by Europe (28.5%) and Asia Pacific (9.5%).

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