Is it safe?
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
- 53%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ2 2026
- $15.0B
- Cash and short-term investments
- $218M
- Net debt
- $14.8B
- EBITDA, trailing twelve months
- $2.71B
- Operating profit, trailing twelve months
- $1.53B
- Debt / equity
- 5.84×
- Total debt / EBITDA
- 5.55×
- Annualised volatilitytwo years of daily moves
- 53%
- Worst drawdown on file
- −87%
- Below its 52-week high
- −37%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.