Norwegian Cruise Line Holdings (MEX:NCLHN) E10: MXN-36.63 (As of Jun. 2026)

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MEX:NCLHN Norwegian Cruise Line Holdings Ltd MEX:NCLHN
63 GF Score
Price MXN329.80
GF Value MXN377.76
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is Norwegian Cruise Line Holdings E10?

Norwegian Cruise Line Holdings MEX:NCLHN -1.68% 63 E10 is MXN-36.63 as of Jun. 2026. GuruFocus rates MEX:NCLHN with a GF Score™ of 63/100 and a GF Value™ of MXN377.76 (Modestly Undervalued). The stock has 7 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Norwegian Cruise Line Holdings's adjusted earnings per share data for the three months ended in Jun. 2026 was MXN8.376. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is MXN-36.63 for the trailing ten years ended in Jun. 2026.

During the past 3 years, the average E10 Growth Rate was -7.40% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Norwegian Cruise Line Holdings was -7.40% per year. The lowest was -32.00% per year. And the median was -26.00% per year.

As of today (2026-08-09), Norwegian Cruise Line Holdings's current stock price is MXN329.80. Norwegian Cruise Line Holdings's E10 for the quarter that ended in Jun. 2026 was MXN-36.63. Norwegian Cruise Line Holdings's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Norwegian Cruise Line Holdings was 1074.33. The lowest was 4.13. And the median was 31.65.


Norwegian Cruise Line Holdings  (MEX:NCLHN) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

During the past 13 years, the highest Shiller P/E Ratio of Norwegian Cruise Line Holdings was 1074.33. The lowest was 4.13. And the median was 31.65.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Norwegian Cruise Line Holdings E10 Related Terms


Norwegian Cruise Line Holdings E10 Historical Data

* Premium members only.

The historical data trend for Norwegian Cruise Line Holdings's E10 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 E10 Chart

Norwegian Cruise Line Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only -18.08 -30.83 -28.62 -36.93 -35.75

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
E10 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 -35.04 -35.23 -35.75 -36.80 -36.63

MEX:NCLHN vs GBTG, MMYT, TNL: E10 Comparison

For the Travel Services subindustry, Norwegian Cruise Line Holdings's Shiller PE Ratio, along with its competitors' market caps and Shiller PE 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 Shiller PE Ratio vs Travel & Leisure Industry

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

* The bar in red indicates where Norwegian Cruise Line Holdings's Shiller PE Ratio falls into.


MEX:NCLHN
63GF Score
Norwegian Cruise Line Holdings Ltd MEX:NCLHN
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Norwegian Cruise Line Holdings E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

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.

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

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=8.376/333.9520*333.9520
=8.376

Current CPI (Jun. 2026) = 333.9520.

Norwegian Cruise Line Holdings Quarterly Data

per share eps CPI Adj_EPS
201609 29.003 241.428 40.118
201612 6.597 241.432 9.125
201703 5.084 243.801 6.964
201706 15.726 244.955 21.440
201709 31.578 246.819 42.726
201712 8.445 246.524 11.440
201803 8.175 249.554 10.940
201806 19.846 251.989 26.301
201809 39.468 252.439 52.212
201812 13.744 251.233 18.269
201903 10.475 254.202 13.761
201906 21.322 256.143 27.799
201909 41.261 256.759 53.666
201912 10.562 256.974 13.726
202003 -206.342 258.115 -266.968
202006 -69.015 257.797 -89.403
202009 -55.228 260.280 -70.860
202012 -49.929 260.474 -64.014
202103 -85.035 264.877 -107.211
202106 -38.618 271.696 -47.467
202109 -47.087 274.310 -57.325
202112 -82.261 278.802 -98.533
202203 -46.791 287.504 -54.350
202206 -24.544 296.311 -27.662
202209 -14.080 296.808 -15.842
202212 -22.225 296.797 -25.007
202303 -6.849 301.836 -7.578
202306 3.429 305.109 3.753
202309 12.367 307.789 13.418
202312 -4.244 306.746 -4.620
202403 0.664 312.332 0.710
202406 6.412 314.175 6.816
202409 18.706 315.301 19.813
202412 10.845 315.605 11.475
202503 -1.841 319.799 -1.922
202506 1.318 322.561 1.365
202509 15.776 324.800 16.221
202512 0.540 324.054 0.556
202603 4.148 330.213 4.195
202606 8.376 333.952 8.376

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of MXN-36.63 mean?
Norwegian Cruise Line Holdings (MEX:NCLHN) has a E10 of MXN-36.63 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Norwegian Cruise Line Holdings and its competitors.
Is Norwegian Cruise Line Holdings' E10 too high?
Norwegian Cruise Line Holdings' current E10 is MXN-36.63. Overall, Norwegian Cruise Line Holdings has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Norwegian Cruise Line Holdings' E10 compare to GBTG and MMYT?
Norwegian Cruise Line Holdings' E10 of MXN-36.63 can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Travel & Leisure company?
A good E10 depends on the Travel & Leisure industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Norwegian Cruise Line Holdings and its competitors. Norwegian Cruise Line Holdings's current E10 is MXN-36.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norwegian Cruise Line Holdings stock overvalued right now?
Based on GuruFocus' analysis, Norwegian Cruise Line Holdings (MEX:NCLHN) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN377.76, compared to a current price of MXN329.80 — trading 12.7% below its estimated fair value. The current E10 is MXN-36.63. Norwegian Cruise Line Holdings' overall GF Score™ is 63/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Norwegian Cruise Line Holdings (MEX:NCLHN), the current E10 is MXN-36.63 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Norwegian Cruise Line Holdings (MEX:NCLHN) Overvalued in 2026?

Based on GuruFocus' analysis, Norwegian Cruise Line Holdings stock appears to be undervalued. The current stock price of MXN329.80 is trading 12.7% below its estimated GF Value™ of MXN377.76. GuruFocus considers Norwegian Cruise Line Holdings to be Modestly Undervalued.

Key valuation signals for MEX:NCLHN:

  • E10: MXN-36.63
  • GF Value™: MXN377.76 vs. price of MXN329.80 (12.7% below fair value)
  • GF Score™: 63/100 with 7 warning signs

No single metric tells the full story. See the MEX:NCLHN 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.
63GF Score

Get the complete analysis for MEX:NCLHN

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN329.80
Price
MXN377.76
GF Value