Norwegian Cruise Line Holdings (BSP:N1CL34) Cyclically Adjusted PS Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:N1CL34 Norwegian Cruise Line Holdings Ltd BSP:N1CL34
62 GF Score
Price R$73.15
GF Value R$114.20
Valuation Possible Value Trap
! 7 Warning Signs
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What is Norwegian Cruise Line Holdings Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Norwegian Cruise Line Holdings  (BSP:N1CL34) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Norwegian Cruise Line Holdings Cyclically Adjusted PS Ratio Related Terms


Norwegian Cruise Line Holdings Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Norwegian Cruise Line Holdings's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Norwegian Cruise Line Holdings Cyclically Adjusted PS Ratio Chart

Norwegian Cruise Line Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.91 0.91 1.27 1.87 1.41

Norwegian Cruise Line Holdings Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.17 1.42 1.40 1.01 1.20

BSP:N1CL34 vs MMYT, GBTG, TNL: Cyclically Adjusted PS Ratio Comparison

For the Travel Services subindustry, Norwegian Cruise Line Holdings's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Norwegian Cruise Line Holdings Cyclically Adjusted PS Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Norwegian Cruise Line Holdings's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Norwegian Cruise Line Holdings's Cyclically Adjusted PS Ratio falls into.


BSP:N1CL34
62GF Score
Norwegian Cruise Line Holdings Ltd BSP:N1CL34
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Norwegian Cruise Line Holdings Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Norwegian Cruise Line Holdings's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Norwegian Cruise Line Holdings's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=28.761/333.9520*333.9520
=28.761

Current CPI (Jun. 2026) = 333.9520.

Norwegian Cruise Line Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 21.169 241.428 29.282
201612 16.288 241.432 22.530
201703 15.825 243.801 21.677
201706 18.855 244.955 25.705
201709 22.766 246.819 30.803
201712 17.627 246.524 23.878
201803 18.321 249.554 24.517
201806 24.445 251.989 32.396
201809 32.933 252.439 43.567
201812 23.748 251.233 31.567
201903 24.161 254.202 31.741
201906 30.094 256.143 39.236
201909 35.246 256.759 45.842
201912 28.378 256.974 36.879
202003 26.057 258.115 33.713
202006 0.380 257.797 0.492
202009 0.129 260.280 0.166
202012 0.176 260.474 0.226
202103 0.052 264.877 0.066
202106 0.063 271.696 0.077
202109 2.162 274.310 2.632
202112 6.951 278.802 8.326
202203 6.530 287.504 7.585
202206 13.943 296.311 15.714
202209 20.138 296.808 22.658
202212 18.956 296.797 21.329
202303 22.381 301.836 24.762
202306 23.703 305.109 25.944
202309 24.198 307.789 26.255
202312 23.145 306.746 25.198
202403 25.172 312.332 26.914
202406 24.067 314.175 25.582
202409 30.229 315.301 32.017
202412 23.767 315.605 25.149
202503 28.203 319.799 29.451
202506 31.847 322.561 32.972
202509 32.294 324.800 33.204
202512 26.350 324.054 27.155
202603 26.287 330.213 26.585
202606 28.761 333.952 28.761

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Norwegian Cruise Line Holdings (BSP:N1CL34) Overvalued in 2026?

Based on GuruFocus' analysis, Norwegian Cruise Line Holdings stock appears to be undervalued. The current stock price of R$73.15 is trading 35.9% below its estimated GF Value™ of R$114.20. GuruFocus considers Norwegian Cruise Line Holdings to be Possible Value Trap.

Key valuation signals for BSP:N1CL34:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: R$114.20 vs. price of R$73.15 (35.9% below fair value)
  • GF Score™: 62/100 with 7 warning signs

No single metric tells the full story. See the BSP:N1CL34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Norwegian Cruise Line Holdings Business Description

Address 7665 Corporate Center Drive, Miami, FL, USA, 33126
Norwegian Cruise Line is the world's third-largest publicly traded cruise company by berths (around 75,000). It operates 35 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 16 passenger vessels on order among its brands through 2037, representing 43,000 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.
62GF Score

Get the complete analysis for BSP:N1CL34

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$73.15
Price
R$114.20
GF Value