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Norwegian Cruise Line HoldingsNCLH +2.60%77 EV-to-OCF is 10.76 as of Aug. 21, 2026, which is 5% above its 10-year median of 10.28. GuruFocus rates NCLH with a GF Score™ of 77/100 and a GF Value™ of $21.55 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 855 Travel & Leisure companies, Norwegian Cruise Line Holdings ranks worse than 56.14% on this metric.
The historical rank and industry rank for Norwegian Cruise Line Holdings's EV-to-OCF or its related term are showing as below:
NCLH'
s EV-to-OCF Range Over the Past 10 Years
Min: -59.13 Med: 10.28 Max: 95.72
Current: 10.76
During the past 13 years, the highest EV-to-OCF of Norwegian Cruise Line Holdings was 95.72. The lowest was -59.13. And the median was 10.28.
NCLH's EV-to-OCF is ranked worse than 56.14% of 855
companies
in the Travel & Leisure industry
Industry Median: 9.23
vs NCLH: 10.76
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Norwegian Cruise Line Holdings (NYSE:NCLH) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Norwegian Cruise Line Holdings's PE Ratio (TTM) for today is calculated as:
Norwegian Cruise Line Holdings's share price for today is $17.185.
Norwegian Cruise Line Holdings's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1.600.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Norwegian Cruise Line Holdings EV-to-OCF Related Terms
Norwegian Cruise Line Holdings EV-to-OCF Historical Data
* 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.
For the Travel Services subindustry, Norwegian Cruise Line Holdings's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Norwegian Cruise Line Holdings's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Norwegian Cruise Line Holdings's EV-to-OCF falls into.
Norwegian Cruise Line Holdings's current Enterprise Value is $22,708 Mil.
Norwegian Cruise Line Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,110 Mil.
* 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 (NCLH) has a EV-to-OCF of 10.76 as of Aug. 21, 2026. This is near median its historical median of 10.28. According to the industry distribution chart, Norwegian Cruise Line Holdings ranks #480 out of 855 companies in the Travel & Leisure industry, placing it in the top 56.1%.
Is Norwegian Cruise Line Holdings' EV-to-OCF too high?
Norwegian Cruise Line Holdings' current EV-to-OCF of 10.76 is near median its 10-year median of 10.28. The Travel & Leisure industry median EV-to-OCF is 9.23. Norwegian Cruise Line Holdings' value of 10.76 is 16.6% above this industry median. Based on the distribution chart, Norwegian Cruise Line Holdings ranks #480 out of 855 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Norwegian Cruise Line Holdings has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Norwegian Cruise Line Holdings' EV-to-OCF compare to GBTG and MMYT?
According to the Travel & Leisure industry distribution chart, Norwegian Cruise Line Holdings ranks #480 out of 855 companies for EV-to-OCF. This places Norwegian Cruise Line Holdings in the lower half of its industry. The industry median EV-to-OCF is 9.23. Norwegian Cruise Line Holdings' value of 10.76 is 16.6% above this benchmark. While the company's 10-year median is 10.28 vs. the industry median of 9.23, Norwegian Cruise Line Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Travel & Leisure company?
The median EV-to-OCF among Travel & Leisure companies is 9.23, based on 855 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norwegian Cruise Line Holdings's current EV-to-OCF of 10.76 is 16.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Travel & Leisure industry, the median EV-to-OCF is 9.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norwegian Cruise Line Holdings's current EV-to-OCF is 10.76, which is near median its own 10-year median of 10.28. 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 (NCLH) is currently considered Modestly Undervalued. The stock's GF Value™ is $21.55, compared to a current price of $17.19 — trading 20.3% below its estimated fair value. The current EV-to-OCF is 10.76, which is near median its 10-year median of 10.28 and 16.6% above the Travel & Leisure industry median of 9.23. Norwegian Cruise Line Holdings' overall GF Score™ is 77/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Norwegian Cruise Line Holdings (NCLH), the current EV-to-OCF is 10.76 as of Aug. 21, 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 (NCLH) Overvalued in 2026?
Based on GuruFocus' analysis, Norwegian Cruise Line Holdings stock appears to be undervalued.
The current stock price of $17.19 is trading 20.3% below its estimated GF Value™ of $21.55.
GuruFocus considers Norwegian Cruise Line Holdings to be Modestly Undervalued.
Key valuation signals for NCLH:
EV-to-OCF: 10.76 (near median its 10-year median of 10.28)
GF Value™: $21.55 vs. price of $17.19 (20.3% below fair value)
Industry Position: 16.6% above the Travel & Leisure median (#480 of 855)
No single metric tells the full story. See the NCLH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
77GF Score
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