Valuation
26% of the score
55median 13
Norwegian Cruise Line Holdings is valued at 15.8x its operating profit, including debt: an ordinary multiple.
25x
20x
15x
10x
6x
15.8x
Full points at 6x or less, none from 25xfull points
NCLHNorwegian Cruise Line Holdings
$14.30-44% 1Y
$14.30
$14.1352 weeks$26.94
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 26 out of 100, Weak
Today's price. Only valuation depends on it.
Weak. Norwegian Cruise Line Holdings scores higher than 22% of the 1,794 companies Ryufin scores.
Carried by earnings quality, held back by return on capital and return on new capital.
Consumer Cyclical median 61 · all companies 50
Return on capital
18% of the score
0median 34
Over 7 years the business earned -2.5% a year after tax on the capital it uses.
2%
8%
15%
25%
-2.5%
None at 2% or less, full points from 25%full points
7 years agolatest 9.3%
Return on new capital
16% of the score
0median 49
No operating profit over the period, so nothing was earned to reinvest.
Capital allocation
14% of the score
40median 64
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 13.4% a year over 5 years: new shares
05%
-3%
13%
0 pointsfull points
Assets against salesAssets grew 4.1% a year, sales 50%
10012%
-2%
-46%
0 pointsfull points
Cycle position
12% of the score
0median 62
Today's operating margin of 15% is 5.92x its normal 2.5%: near a peak, where margins tend to fall back. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
5.9x
A trough earns points, a peak costs themfull points
10 years agonow 15%
Balance sheet
8% of the score
3median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA5.5x a year of EBITDA
04.5x
0.5x
5.5x
0 pointsfull points
Interest coverOperating profit covers interest 2x
61.5x
12x
2.1x
0 pointsfull points
Earnings quality
6% of the score
92median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 4.10x profit over 3 years
1000.7x
1x
1.3x
4.1x
0 pointsfull points
AccrualsCash ran ahead of profit by 7.8% of assets
998%
0%
-8%
-7.8%
0 pointsfull points
Beneish M-score-2.55
77-1.50
-1.78
-2.22
-3.00
-2.55
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2026-06-30, latest annual report FY2025.
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