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Norwegian Cruise Line HoldingsNCLH -0.76%77 Return-on-Tangible-Asset is 1.86% as of Mar. 2026, which is 45% below its 10-year median of 3.41. GuruFocus rates NCLH with a GF Score™ of 77/100 and a GF Value™ of $22.02 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 855 Travel & Leisure companies, Norwegian Cruise Line Holdings ranks worse than 50.88% on this metric.
The historical rank and industry rank for Norwegian Cruise Line Holdings's Return-on-Tangible-Asset or its related term are showing as below:
NCLH'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -25.08 Med: 3.41 Max: 7.7
Current: 2.62
During the past 13 years, Norwegian Cruise Line Holdings's highest Return-on-Tangible-Asset was 7.70%. The lowest was -25.08%. And the median was 3.41%.
NCLH's Return-on-Tangible-Asset is ranked worse than 50.88% of 855
companies
in the Travel & Leisure industry
Industry Median: 2.73
vs NCLH: 2.62
Norwegian Cruise Line Holdings (NYSE:NCLH) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Norwegian Cruise Line Holdings Return-on-Tangible-Asset Related Terms
Norwegian Cruise Line Holdings Return-on-Tangible-Asset 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.
Norwegian Cruise Line Holdings Return-on-Tangible-Asset Chart
NCLH vs MMYT, GBTG, TNL: Return-on-Tangible-Asset Comparison
For the Travel Services subindustry, Norwegian Cruise Line Holdings's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Norwegian Cruise Line Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Norwegian Cruise Line Holdings's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 1.86% mean?
Norwegian Cruise Line Holdings (NCLH) has a Return-on-Tangible-Asset of 1.86% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Norwegian Cruise Line Holdings and its competitors. This is 45% below median its historical median of 3.41. According to the industry distribution chart, Norwegian Cruise Line Holdings ranks #435 out of 855 companies in the Travel & Leisure industry, placing it in the top 50.9%.
Is Norwegian Cruise Line Holdings' Return-on-Tangible-Asset too high?
Norwegian Cruise Line Holdings' current Return-on-Tangible-Asset of 1.86% is 45% below median its 10-year median of 3.41. The Travel & Leisure industry median Return-on-Tangible-Asset is 2.73. Norwegian Cruise Line Holdings' value of 1.86% is 31.9% below this industry median. Based on the distribution chart, Norwegian Cruise Line Holdings ranks #435 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' Return-on-Tangible-Asset compare to MMYT and GBTG?
According to the Travel & Leisure industry distribution chart, Norwegian Cruise Line Holdings ranks #435 out of 855 companies for Return-on-Tangible-Asset. This places Norwegian Cruise Line Holdings in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.73. Norwegian Cruise Line Holdings' value of 1.86% is 31.9% below this benchmark. While the company's 10-year median is 3.41 vs. the industry median of 2.73, Norwegian Cruise Line Holdings has consistently been below 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 Return-on-Tangible-Asset for a Travel & Leisure company?
The median Return-on-Tangible-Asset among Travel & Leisure companies is 2.73, based on 855 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norwegian Cruise Line Holdings's current Return-on-Tangible-Asset of 1.86% is 31.9% below 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Norwegian Cruise Line Holdings and its competitors. For the Travel & Leisure industry, the median Return-on-Tangible-Asset is 2.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norwegian Cruise Line Holdings's current Return-on-Tangible-Asset is 1.86%, which is 45% below median its own 10-year median of 3.41. 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 $22.02, compared to a current price of $19.46 — trading 11.6% below its estimated fair value. The current Return-on-Tangible-Asset is 1.86%, which is 45% below median its 10-year median of 3.41 and 31.9% below the Travel & Leisure industry median of 2.73. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Norwegian Cruise Line Holdings (NCLH), the current Return-on-Tangible-Asset is 1.86% as of Mar. 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 $19.46 is trading 11.6% below its estimated GF Value™ of $22.02.
GuruFocus considers Norwegian Cruise Line Holdings to be Modestly Undervalued.
Key valuation signals for NCLH:
Return-on-Tangible-Asset: 1.86% (45% below median its 10-year median of 3.41)
GF Value™: $22.02 vs. price of $19.46 (11.6% below fair value)
Industry Position: 31.9% below the Travel & Leisure median (#435 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 Holdings Business Description
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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