NCLHNorwegian Cruise Line Holdings

Consumer Cyclical

$15.59-39% 1Y

$15.59

$14.1352 weeks$25.57

Is it safe?

Watch

Solid, nothing alarming: clean books, but heavy debt (BB) and big price swings.

1 good, 2 to watch, 1 neutral, 2 without data

Honest booksLow risk

Reported earnings show no manipulation flags Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).

Quality6 / 9

Mixed fundamental signals Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.

Credit gradeBBderived · Jun 30, 2026

Moderately leveraged. A rule of thumb on leverage, not a credit rating.

Drawdown risk52% volderived · Oct 9, 2026

Large price swings, high volatility. Worst drawdown -87% · now 39% below its 52-week high.

Unless marked, from SEC EDGAR, as of Dec 31, 2025.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

Volatilitybehind 69% of the market

Max drawdownbehind 84% of the market

Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.

Can NCLH take a bad year?

Norwegian Cruise Line Holdings carries $14.8B of net debt at 5.47× EBITDA: a heavy load to carry through a bad year.

$14.8B

Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy

Net debt / EBITDA: 5.47×
Net debt / EBITDA · 5.45× a year ago · the load is going up
Cash runway: 0.2 years
Cash runway · burning $296M a quarter at the current rate
Annualised volatility: 52%
Annualised volatility · roughly twice as jumpy as the market