How much debt does NCL stock have?

Total debt on the balance sheet as of September 2023 : $13.87 B. According to Norwegian Cruise Line 's latest financial reports the company's total debt is $13.87 B.



As of early 2026, Norwegian Cruise Line Holdings (NCLH) continues to manage a significant debt load carried over from the pandemic era. Recent financial reports for the fiscal year ending December 31, 2024, showed a total debt of approximately $14.5 billion. While the company has seen strong revenue growth and record bookings in 2025, its debt-to-equity ratio remains high, currently sitting at around 662%. Of this total, roughly $11.78 billion is classified as long-term debt. Investors monitor the "interest coverage ratio" closely, which stands at about 2.3, indicating that the company is generating enough earnings to cover its interest payments but has limited room for error. Management's primary focus in 2026 remains "de-leveraging"—using its strong operating cash flow to pay down high-interest loans—to improve the company's overall financial health and eventually return to a state where it can consider shareholder dividends.

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Norwegian Cruise Line has 22.15% upside potential, based on the analysts' average price target. Norwegian Cruise Line has a conensus rating of Moderate Buy which is based on 5 buy ratings, 8 hold ratings and 1 sell ratings. The average price target for Norwegian Cruise Line is $21.18.

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In the case of Norwegian Cruise Line Holdings, both the revenue per share (evident from the last five years' TTM data: 2019: 28.67; 2020: 21.68; 2021: 0.08; 2022: 5.74; 2023: 16.54; ) and the 5-year revenue growth rate (-32%) have been on a consistent downward trajectory.

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The Stock Is Falling. Norwegian Cruise Line Holdings beat earnings estimates in the third quarter, propelled by strong demand, but cut its full-year outlook because of the Israel-Hamas War.

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Largest shareholders include Vanguard Group Inc, Capital International Investors, BlackRock Inc., AGTHX - GROWTH FUND OF AMERICA Class A, State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, NAESX - Vanguard Small-Cap Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor ...

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Covid-19 shut the industry for the best part of two years, leaving the Big Three — Carnival Corp, Royal Caribbean Group and Norwegian Cruise Line Holdings — under an unprecedented pile of debt that they will be paying down for years. Carnival is $35bn in the hole, Royal Caribbean owes $24bn and Norwegian owes $13.4bn.

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Full year 2023 Occupancy is expected to average 103.5%, consistent with prior guidance. As expected, Occupancy in the quarter is slightly lower than the second quarter of 2019, reflecting the Company's strategic shift to longer, more immersive itineraries.

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The latest closing stock price for Norwegian Cruise Line Holdings as of November 13, 2023 is 13.10.
  • The all-time high Norwegian Cruise Line Holdings stock closing price was 63.76 on November 02, 2015.
  • The Norwegian Cruise Line Holdings 52-week high stock price is 22.75, which is 73.7% above the current share price.


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Norwegian is also a mass-market brand, not a luxury cruise operator. Still, as we'll explain below, it offers a wide range of accommodations, some of which fall squarely in the luxury segment.

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Officials with Norwegian Cruise Lines and Royal Caribbean Cruises announced cancellations Wednesday as the pandemic-stricken cruise industry grapples with the arrival of the highly transmissible omicron variant.

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CLIA forecasts passenger numbers will not only meet but exceed pre-pandemic levels by the end of 2023. And according to Cruise Industry News' cruise ship orderbook for ocean-going vessels, nearly 40 new ships are lined up to debut this year alone, with more than 75 vessels on order through 2027.

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