Norwegian Cruise Line Holdings annual operating margin
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Norwegian Cruise Line Holdings Operating Margin Growth & History (NCLH)
Norwegian Cruise Line Holdings's operating margin was 15.88% for fiscal 2025.
View full Norwegian Cruise Line Holdings company overviewNorwegian Cruise Line Holdings annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 15.88% | +0.42 pp |
| 2024 | 2024-12-31 | 15.46% | +4.58 pp |
| 2023 | 2023-12-31 | 10.89% | +42.92 pp |
| 2022 | 2022-12-31 | −32.04% | +361.85 pp |
| 2021 | 2021-12-31 | −393.89% | −121.67 pp |
| 2020 | 2020-12-31 | −272.22% | −290.45 pp |
| 2019 | 2019-12-31 | 18.23% | −1.90 pp |
| 2018 | 2018-12-31 | 20.13% | +0.70 pp |
| 2017 | 2017-12-31 | 19.44% | +0.45 pp |
| 2016 | 2016-12-31 | 18.99% | +2.82 pp |
| 2015 | 2015-12-31 | 16.17% | +0.08 pp |
| 2014 | 2014-12-31 | 16.09% | +0.69 pp |
| 2013 | 2013-12-31 | 15.40% | −0.29 pp |
| 2012 | 2012-12-31 | 15.69% | +1.44 pp |
| 2011 | 2011-12-31 | 14.24% | — |
Norwegian Cruise Line Holdings quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 13.76% | −3.08 pp |
| Q1 2026 | 2026-03-31 | 9.99% | +0.55 pp |
| Q4 2025 | 2025-12-31 | 8.32% | −1.86 pp |
| Q3 2025 | 2025-09-30 | 25.51% | +0.88 pp |
| Q2 2025 | 2025-06-30 | 16.84% | +2.44 pp |
| Q1 2025 | 2025-03-31 | 9.44% | −0.52 pp |
| Q4 2024 | 2024-12-31 | 10.18% | +3.92 pp |
| Q3 2024 | 2024-09-30 | 24.63% | +3.99 pp |
| Q2 2024 | 2024-06-30 | 14.40% | +2.04 pp |
| Q1 2024 | 2024-03-31 | 9.97% | +9.38 pp |
| Q4 2023 | 2023-12-31 | 6.26% | +24.75 pp |
| Q3 2023 | 2023-09-30 | 20.64% | +32.10 pp |
| Q2 2023 | 2023-06-30 | 12.36% | +45.78 pp |
| Q1 2023 | 2023-03-31 | 0.59% | +132.55 pp |
| Q4 2022 | 2022-12-31 | −18.50% | +122.42 pp |
| Q3 2022 | 2022-09-30 | −11.47% | +438.69 pp |
| Q2 2022 | 2022-06-30 | −33.42% | +13819.69 pp |
| Q1 2022 | 2022-03-31 | −131.96% | +18295.97 pp |
| Q4 2021 | 2021-12-31 | −140.92% | +5568.24 pp |
| Q3 2021 | 2021-09-30 | −450.16% | +7493.74 pp |
| Q2 2021 | 2021-06-30 | −13,853.11% | −10336.01 pp |
| Q1 2021 | 2021-03-31 | −18,427.94% | −18281.65 pp |
| Q4 2020 | 2020-12-31 | −5,709.16% | −5722.62 pp |
| Q3 2020 | 2020-09-30 | −7,943.89% | −7970.63 pp |
| Q2 2020 | 2020-06-30 | −3,517.11% | −3535.65 pp |
| Q1 2020 | 2020-03-31 | −146.29% | −157.57 pp |
| Q4 2019 | 2019-12-31 | 13.47% | −1.71 pp |
| Q3 2019 | 2019-09-30 | 26.74% | −2.87 pp |
| Q2 2019 | 2019-06-30 | 18.55% | −0.65 pp |
| Q1 2019 | 2019-03-31 | 11.28% | −1.64 pp |
| Q4 2018 | 2018-12-31 | 15.17% | +0.99 pp |
| Q3 2018 | 2018-09-30 | 29.61% | +0.74 pp |
| Q2 2018 | 2018-06-30 | 19.19% | −1.27 pp |
| Q1 2018 | 2018-03-31 | 12.92% | +2.51 pp |
| Q4 2017 | 2017-12-31 | 14.18% | +0.53 pp |
| Q3 2017 | 2017-09-30 | 28.87% | +1.01 pp |
| Q2 2017 | 2017-06-30 | 20.47% | +1.34 pp |
| Q1 2017 | 2017-03-31 | 10.40% | −1.78 pp |
| Q4 2016 | 2016-12-31 | 13.65% | +2.27 pp |
| Q3 2016 | 2016-09-30 | 27.86% | +3.98 pp |
| Q2 2016 | 2016-06-30 | 19.13% | −0.90 pp |
| Q1 2016 | 2016-03-31 | 12.18% | +5.75 pp |
| Q4 2015 | 2015-12-31 | 11.38% | +5.49 pp |
| Q3 2015 | 2015-09-30 | 23.88% | −2.01 pp |
| Q2 2015 | 2015-06-30 | 20.03% | +0.63 pp |
| Q1 2015 | 2015-03-31 | 6.43% | −4.57 pp |
| Q4 2014 | 2014-12-31 | 5.89% | −4.35 pp |
| Q3 2014 | 2014-09-30 | 25.89% | −0.19 pp |
| Q2 2014 | 2014-06-30 | 19.40% | +4.60 pp |
| Q1 2014 | 2014-03-31 | 11.01% | +5.13 pp |
| Q4 2013 | 2013-12-31 | 10.23% | +0.39 pp |
| Q3 2013 | 2013-09-30 | 26.08% | +0.26 pp |
| Q2 2013 | 2013-06-30 | 14.80% | −0.12 pp |
| Q1 2013 | 2013-03-31 | 5.87% | −3.14 pp |
| Q4 2012 | 2012-12-31 | 9.84% | — |
| Q3 2012 | 2012-09-30 | 25.82% | — |
| Q2 2012 | 2012-06-30 | 14.92% | — |
| Q1 2012 | 2012-03-31 | 9.01% | — |
Norwegian Cruise Line Holdings operating margin trends
Over the last five reported fiscal years, Norwegian Cruise Line Holdings's operating margin increased from −272.22% to 15.88%, a change of +288.10 percentage points. The latest reported quarter, Q2 2026, shows 13.76%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Norwegian Cruise Line Holdings filings at SEC.gov ↗