Norwegian Cruise Line Holdings Ltd. (NCLH) P/E Ratio History
Premium ValuationTrading at 23.5x vs 5Y avg 19.7x · 80th percentile · Premium to historical baseline · Data 2013–2026
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P/E Ratio Analysis
As of July 8, 2026, Norwegian Cruise Line Holdings Ltd. (NCLH) trades at a price-to-earnings ratio of 23.5x, with a stock price of $21.11 and trailing twelve-month earnings per share of $1.22.
The current P/E is 19% above its 5-year average of 19.7x. Over the past five years, NCLH's P/E has ranged from a low of 9.9x to a high of 83.5x, placing the current valuation at the 80th percentile of its historical range.
Compared to the Consumer Cyclical sector median P/E of 21.4x, NCLH is roughly in line with its sector peers. The sector includes 309 companies with P/E ratios ranging from 0.1x to 184.9x.
Relative to the broader market, NCLH trades roughly in line with the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NCLH DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NCLH Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
NCLH P/E vs Peers
Cruise Lines peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $39B | 14.1 | -Best | +40% | |
| $86B | 20.3 | -Best | +43% | |
| $46B | 40.7 | -Best | +757%Best | |
| $4B | 58.8 | -Best | +93% | |
| $5B | 22.2 | -Best | -36% | |
| $98B | 39.1 | -Best | +14% | |
| $75B | 54.0 | -Best | -0% | |
| $62B | 12.2Lowest | -Best | +44% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
NCLH Historical P/E Data (2013–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $18.70 | $1.19 | 15.8x | -54% |
| FY2025 Q4 | Dec 31 2025 | $22.32 | $0.87 | 25.8x | -26% |
| FY2025 Q3 | - | $24.63 | $1.33 | 18.6x | -46% |
| FY2025 Q2 | Jun 30 2025 | $20.28 | $1.42 | 14.3x | -59% |
| FY2025 Q1 | Mar 31 2025 | $18.96 | $1.67 | 11.4x | -67% |
| FY2024 Q4 | - | $25.73 | $1.80 | 14.3x | -59% |
| FY2024 Q3 | Sep 30 2024 | $20.51 | $1.06 | 19.3x | -44% |
| FY2024 Q2 | Jun 30 2024 | $18.79 | $0.79 | 23.8x | -31% |
| FY2024 Q1 | Mar 31 2024 | $20.93 | $0.66 | 31.7x | -8% |
| FY2023 Q4 | Dec 31 2023 | $20.04 | $0.24 | 83.5x | +141% |
| FY2019 Q4 | - | $58.41 | $4.30 | 13.6x | -61% |
| FY2019 Q3 | Sep 30 2019 | $51.77 | $4.44 | 11.7x | -66% |
| FY2019 Q2 | Jun 30 2019 | $53.63 | $4.46 | 12.0x | -65% |
| FY2019 Q1 | Mar 31 2019 | $54.96 | $4.36 | 12.6x | -64% |
| FY2018 Q4 | Dec 31 2018 | $42.39 | $4.27 | 9.9x | -71% |
| FY2018 Q3 | Sep 30 2018 | $57.43 | $4.00 | 14.4x | -59% |
| FY2018 Q2 | Jun 30 2018 | $47.25 | $3.63 | 13.0x | -62% |
| FY2018 Q1 | Mar 31 2018 | $52.97 | $3.49 | 15.2x | -56% |
| FY2017 Q4 | Dec 31 2017 | $53.25 | $3.31 | 16.1x | -54% |
| FY2017 Q3 | Sep 30 2017 | $54.05 | $3.20 | 16.9x | -51% |
| FY2017 Q2 | Jun 30 2017 | $54.29 | $2.96 | 18.3x | -47% |
| FY2017 Q1 | Mar 31 2017 | $50.73 | $2.73 | 18.6x | -46% |
| FY2016 Q4 | Dec 31 2016 | $42.53 | $2.78 | 15.3x | -56% |
| FY2016 Q3 | Sep 30 2016 | $37.70 | $2.63 | 14.3x | -59% |
| FY2016 Q2 | - | $39.84 | $2.22 | 17.9x | -48% |
| FY2016 Q1 | - | $55.29 | $2.27 | 24.4x | -30% |
| FY2015 Q4 | - | $58.60 | $1.85 | 31.6x | -9% |
| FY2015 Q3 | Sep 30 2015 | $57.30 | $1.56 | 36.6x | +6% |
| FY2015 Q2 | - | $56.04 | $1.44 | 38.8x | +12% |
| FY2015 Q1 | - | $54.01 | $1.29 | 41.7x | +21% |
| FY2014 Q4 | Dec 31 2014 | $46.76 | $1.63 | 28.7x | -17% |
| FY2014 Q3 | - | $36.02 | $1.92 | 18.8x | -46% |
| FY2014 Q2 | Jun 30 2014 | $31.70 | $1.77 | 17.9x | -48% |
| FY2014 Q1 | Mar 31 2014 | $32.27 | $1.19 | 27.2x | -21% |
| FY2013 Q4 | - | $35.47 | $0.46 | 77.7x | +124% |
| FY2013 Q3 | Sep 30 2013 | $30.85 | $0.29 | 105.7x | +205% |
| FY2013 Q2 | Jun 30 2013 | $30.31 | $0.10 | 297.2x | +758% |
| FY2013 Q1 | Mar 31 2013 | $29.65 | $0.33 | 91.1x | +163% |
Average P/E for displayed period: 34.6x
Intrinsic Valuation
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Historical Returns
13+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NCLH — Frequently Asked Questions
Quick answers to the most common questions about buying NCLH stock.
What is NCLH's P/E ratio?
Norwegian Cruise Line Holdings Ltd. (NCLH) trailing twelve-month P/E ratio is 23.5x, based on TTM diluted EPS of $1.22. The 5-year average P/E is 19.7x and the historical range spans 9.9x to 83.5x.
Is NCLH stock overvalued or undervalued?
NCLH trades at 23.5x P/E, near its 5-year average of 19.7x. The 80th percentile ranking within the 9.9x–83.5x historical range places valuation within normal bounds.
Is NCLH stock expensive?
NCLH is fairly valued relative to its own history. The current P/E of 23.5x is near the 5-year average of 19.7x (80th percentile of historical range).
What is NCLH's historical P/E range?
Over the past 5 years, NCLH's P/E ratio has ranged from 9.9x to 83.5x, with a median of 15.2x and an average of 19.7x. The current P/E of 23.5x places the stock at the 80th percentile of this range. Full historical data spans 2013–2026.
How does NCLH's P/E compare to the S&P 500?
NCLH trades at 23.5x P/E versus the S&P 500 median of 25.1x. The 6% discount to the market suggests lower growth expectations or perceived higher risk.
How does NCLH's valuation compare to Consumer Cyclical peers?
Norwegian Cruise Line Holdings Ltd. P/E of 23.5x compares to the Consumer Cyclical sector median of 21.4x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is NCLH's PEG ratio?
NCLH PEG ratio is N/A, based on a P/E of 23.5x and EPS growth of -52.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is NCLH's earnings yield?
NCLH earnings yield is 4.26%, the inverse of its 23.5x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.