Norwegian Cruise Line Holdings Ltd. Financial Ratios — NCLH

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	507,436	674,224	88,446.96	155,564.14	120.43	71.55	48.02	39.27	27.65	-1,451,180.47	-1,229,628.1	-541,744.39	39,285.58	210,464.05	94,580.11
Return on Assets (%)	2.28	2.93	1.62	3.73	3.6	5.02	5.61	6.52	5.83	-22.87	-24.28	-12.18	0.87	4.61	1.99
Return on Capital (%)	12.14	13.59	12.54	- -	9.79	12.45	12.9	13.83	- -	- -	- -	- -	- -	- -	16.9
Return on Invested Capital (%)	6.35	7.19	6.6	- -	6.99	8.67	9	9.8	- -	- -	- -	- -	- -	- -	9.84
Gross Margin (%)	33.86	35.05	35.51	37.73	38.89	41.53	43.23	44.23	43.31	-32.28	-148.16	11.91	36.04	39.99	42.62
EBITDA Margin (%)	23.75	25.18	24.94	25.84	26.53	28.13	29.1	29.5	28.24	-88.81	-276.82	-15.31	21.22	25.73	27.71
Operating Margin (%)	14.24	15.69	15.4	16.09	16.17	18.99	19.44	20.13	18.23	-146.6	-393.89	-32.04	10.89	15.46	15.88
Incremental Operating Margin (%)	41.27	72	13.19	19.27	16.37	42.13	23.64	25.84	-10.06	- -	- -	- -	66.99	57.54	27.29
Pretax Margin (%)	5.79	7.44	4.46	10.89	9.99	13.14	14.28	16.01	14.1	-312.53	-694.66	-47	1.91	8.15	4.36
Profit Margin (%)	5.72	7.4	3.96	10.82	9.83	12.99	14.08	15.77	14.39	-313.5	-695.48	-46.86	1.94	9.6	4.31
Net Income to Common Margin (%)	5.72	7.4	3.96	10.82	9.83	12.99	14.08	15.77	14.39	-313.5	-695.48	-46.86	1.94	9.6	4.31
Effective Tax Rate (%)	1.32	0.42	10.29	- -	1.56	1.13	1.39	1.49	- -	- -	- -	- -	- -	- -	1.28
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	507,436	674,224	88,446.96	155,564.14	120.43	71.55	48.02	39.27	27.65	-1,451,180.47	-1,229,628.1	-541,744.39	39,285.58	210,464.05	94,580.11

Credit (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	3,038	2,985	3,128	6,080	6,398	6,399	6,308	6,492	6,802	11,806	12,447	13,622	14,059	13,100	14,606
ST Debt	201	221	287	577	630	560	619	681	746	125	877	991	1,745	1,324	876
LT Debt	2,837	2,764	2,841	5,503	5,768	5,838	5,688	5,811	6,055	11,681	11,570	12,630	12,314	11,777	13,730
Total Debt/EBITDA	5.76	5.21	4.88	7.53	5.55	4.67	4.02	3.63	3.73	-10.39	-6.94	-18.37	7.75	5.37	5.36
Net Debt/EBITDA	5.65	5.13	4.79	7.42	5.45	4.57	3.9	3.54	3.59	-7.48	-6.1	-17.09	7.53	5.29	5.29
Total Debt/EBIT	9.61	8.36	7.9	12.09	9.11	6.91	6.01	5.33	5.77	-6.29	-4.88	-8.78	15.1	8.94	9.36
Net Debt/EBIT	9.42	8.23	7.76	11.92	8.94	6.78	5.85	5.19	5.56	-4.53	-4.29	-8.17	14.67	8.81	9.22
EBITDA to Interest Expense	2.77	3.02	2.27	5.32	5.2	4.95	5.86	6.61	7.98	-2.36	-0.87	-0.93	2.49	3.26	2.86
EBITDA-CapEx/Interest Expense	1.8	1.42	-0.84	-1.03	0.14	1.01	0.74	0.81	0.82	-4.32	-1.23	-3.15	-1.29	1.64	-0.56
EBIT to Interest Expense	1.66	1.88	1.4	3.31	3.17	3.34	3.92	4.51	5.15	-3.89	-1.23	-1.94	1.28	1.96	1.64
Interest Expense	190	190	283	152	222	277	268	270	229	482	2,073	802	728	747	954
Common Equity/Total Assets	-8.41	-5.04	-2.97	1.23	4.63	9.26	13.93	19.07	22.95	-1.6	-25.61	-38.08	-35.4	-29.99	-24.69
Long-Term Debt/Equity (%)	153.84	136.92	107.98	156.39	152.55	128.67	98.93	97.45	92.94	268.28	475.6	18,414.08	4,093.7	826.18	621.31
Long-Term Debt/Capital (%)	110.39	102.58	96.22	88.46	82.8	76.82	68.77	61.88	56.96	101.48	151.23	192.66	172	165.61	151.88
Long-Term Debt/Total Assets (%)	51.01	46.55	42.72	47.98	47.03	45	40.36	38.21	36.29	63.49	61.77	68.06	63.17	58.97	60.91
Total Debt/Equity (%)	164.71	147.88	118.87	172.79	169.21	141.01	109.7	108.87	104.39	271.15	511.65	19,859.06	4,673.74	919.05	660.95
Total Debt/Capital (%)	118.2	110.79	105.92	97.73	91.84	84.19	76.26	69.13	63.98	102.56	162.69	207.78	196.38	184.23	161.57
Total Debt/Total Assets (%)	54.62	50.27	47.03	53.01	52.16	49.32	44.75	42.69	40.77	64.17	66.45	73.4	72.12	65.6	64.8
Net Debt to Equity	161.52	145.62	116.72	170.38	166.14	138.18	106.64	106.13	100.51	195.35	449.71	18,478.43	4,539.96	905.67	651.45
Net Debt/Capital (%)	118.62	110.97	106.04	97.7	91.7	83.92	75.75	68.58	63.1	103.59	178.06	225.98	202.12	186.55	163.04
EBITDA	527	573	641	808	1,153	1,371	1,570	1,786	1,825	-1,137	-1,794	-742	1,814	2,439	2,723
EBITDA-CapEx	342	269	-236	-157	30	279	198	219	188	-2,083	-2,547	-2,526	-936	1,228	-537
Operating Income (Loss)	316	357	396	503	702	925	1,049	1,219	1,178	-1,876	-2,552	-1,552	931	1,466	1,561

Liquidity (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.07	0.05	0.05	0.04	0.05	0.06	0.07	0.05	0.07	1.72	0.47	0.19	0.07	0.03	0.04
Current Ratio	0.19	0.17	0.17	0.14	0.14	0.18	0.21	0.17	0.2	1.86	0.89	0.37	0.22	0.17	0.21
Quick Ratio	0.08	0.06	0.07	0.06	0.07	0.08	0.09	0.07	0.09	1.74	0.78	0.25	0.11	0.07	0.09
CFO/Avg Current Liab	0.49	0.45	0.47	0.4	0.47	0.54	0.67	0.74	0.54	-0.93	-0.87	0.05	0.36	0.35	0.37
Common Equity/Total Assets	-8.41	-5.04	-2.97	1.23	4.63	9.26	13.93	19.07	22.95	-1.6	-25.61	-38.08	-35.4	-29.99	-24.69
Long-Term Debt/Equity (%)	153.84	136.92	107.98	156.39	152.55	128.67	98.93	97.45	92.94	268.28	475.6	18,414.08	4,093.7	826.18	621.31
Long-Term Debt/Capital (%)	110.39	102.58	96.22	88.46	82.8	76.82	68.77	61.88	56.96	101.48	151.23	192.66	172	165.61	151.88
Long-Term Debt/Total Assets (%)	51.01	46.55	42.72	47.98	47.03	45	40.36	38.21	36.29	63.49	61.77	68.06	63.17	58.97	60.91
Total Debt/Equity (%)	164.71	147.88	118.87	172.79	169.21	141.01	109.7	108.87	104.39	271.15	511.65	19,859.06	4,673.74	919.05	660.95
Total Debt/Capital (%)	118.2	110.79	105.92	97.73	91.84	84.19	76.26	69.13	63.98	102.56	162.69	207.78	196.38	184.23	161.57
Total Debt/Total Assets (%)	54.62	50.27	47.03	53.01	52.16	49.32	44.75	42.69	40.77	64.17	66.45	73.4	72.12	65.6	64.8
CFO/Total Liabilities	9.6	10.17	11.82	7.99	12.28	14.98	19.19	22.45	17.92	-18.2	-15.14	1.14	10.45	11.05	10.28
CFO/CapEx	1.93	1.31	0.54	0.66	0.93	1.16	1.17	1.32	1.11	-2.7	-3.28	0.12	0.73	1.69	0.64
Altman's Z-Score	0.36	0.39	1.49	1.04	1.44	1.37	1.65	1.46	1.59	0.09	-0.55	-0.61	0.07	0.37	0.39

Working Capital (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	276.76	196.05	154.27	123.33	112.23	90.09	100.7	122.07	99.15	26.75	1.09	6.49	28.19	37.79	38.31
Days Sales Outstanding	1.32	1.86	2.37	2.96	3.25	4.05	3.62	2.99	3.68	13.64	334.6	56.28	12.95	9.66	9.53
Inventory Turnover	42.55	38.95	39.75	38.83	46.29	45.81	41.3	39.19	39.47	19.04	16.03	31.97	35.7	37.02	39.17
Days Inventory Outstanding	8.58	9.37	9.18	9.4	7.88	7.97	8.84	9.31	9.25	19.17	22.76	11.42	10.22	9.86	9.32
Accounts Payable Turnover	20.33	18.59	20.03	20.76	36.04	68.47	67.36	31.79	28.18	18.27	10.39	18.61	27.18	32.89	33.03
Accounts Payable Turnover Days	17.95	19.64	18.22	17.58	10.13	5.33	5.42	11.48	12.95	19.98	35.12	19.62	13.43	11.1	11.05
Cash Conversion Cycle	-8.05	-8.4	-6.67	-5.22	1.01	6.69	7.04	0.82	-0.02	12.83	322.25	48.08	9.74	8.42	7.79
Inventory to Cash Days	-7.26	-7.51	-6.82	-6.44	-4.63	-3.92	-5.21	-6.32	-5.57	-5.52	311.84	44.86	2.72	-0.2	0.21
Inventories	36	40	44	57	58	66	82	90	95	82	118	149	158	150	138
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	36	40	44	57	58	66	82	90	95	82	118	149	158	150	138

Enterprise Value (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	7,200	9,657	13,278	9,659	12,143	9,453	12,554	6,478	7,579	5,138	8,505	11,200	10,011
- Cash & Cash Equivalents	59	46	56	85	116	128	176	164	253	3,300	1,507	947	402	191	210
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	8	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	3,038	2,985	3,128	6,080	6,398	6,399	6,308	6,492	6,802	11,806	12,447	13,622	14,059	13,100	14,606
Enterprise Value	2,979	2,948	10,294	15,652	19,560	15,930	18,275	15,781	19,103	14,983	18,279	17,813	22,162	24,109	24,408
Total Capital	2,570	2,695	2,953	6,221	6,966	7,600	8,271	9,391	10,631	11,511	7,651	6,556	7,159	7,111	9,040
Total Debt/Capital (%)	118.2	110.79	105.92	97.73	91.84	84.19	76.26	69.13	63.98	102.56	162.69	207.78	196.38	184.23	161.57
Total Debt / EV	1.02	1.01	0.3	0.39	0.33	0.4	0.35	0.41	0.36	0.79	0.68	0.76	0.63	0.54	0.6
EV/Sales	1.34	1.3	4	5.01	4.5	3.27	3.39	2.61	2.96	11.71	28.21	3.68	2.59	2.54	2.48
EV/EBITDA	5.65	5.14	16.06	19.38	16.97	11.62	11.64	8.84	10.47	- -	- -	- -	12.22	9.88	8.96
EV/EBIT	9.42	8.26	26	31.12	27.84	17.21	17.42	12.95	16.22	- -	- -	- -	23.81	16.45	15.64
EV/Cash Flow to Firm	5.47	5.02	14.12	19.85	15.52	10.36	9.8	6.74	9.29	- -	- -	17.65	8.07	8.23	8.05
EV/Free Cash Flow to Firm	4.08	3.31	6.41	8.93	8.21	6.06	5.64	4.04	5.17	- -	50.75	6.38	4.03	5.82	3.88
Diluted Market Cap	- -	- -	7,422	9,914	13,480	9,690	12,217	9,513	12,644	6,478	7,579	5,138	8,565	13,252	10,663
Diluted Enterprise Value	2,979	2,948	10,515	15,909	19,762	15,961	18,348	15,841	19,193	14,983	18,519	17,813	22,222	26,161	25,059
EV per Share	14.86	14.71	50.71	75.79	86.32	70.14	80.14	70.77	88.88	58.82	50.02	42.43	52.22	55.39	54.42
TTM Sales	2,219	2,276	2,570	3,126	4,345	4,874	5,396	6,055	6,462	1,280	648	4,844	8,550	9,480	9,828
TTM EBITDA	527	573	641	808	1,153	1,371	1,570	1,786	1,825	-1,137	-1,794	-742	1,814	2,439	2,723
TTM Operating Income	316	357	396	503	702	925	1,049	1,219	1,178	-1,876	-2,552	-1,552	931	1,466	1,561
TTM Cash Flow to Firm	545	588	729	788	1,261	1,538	1,865	2,342	2,056	-2,072	-393	1,009	2,747	2,930	3,031
TTM Free Cash Flow to Firm	729	892	1,606	1,753	2,383	2,630	3,238	3,908	3,693	-1,126	360	2,793	5,497	4,141	6,291

Multiples (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	5.49	6.2	6.23	4.11	4.11	2.61	3.65	-4.02	-4.42	2.58	1.8	4.06	1.99
EV/EBIT	9.42	8.26	26	31.12	27.84	17.21	17.42	12.95	16.22	- -	- -	- -	23.81	16.45	15.64
Enterprise Value	2,979	2,948	10,294	15,652	19,560	15,930	18,275	15,781	19,103	14,983	18,279	17,813	22,162	24,109	24,408
Low Price	- -	- -	24.16	29.08	42.54	34.16	42.64	39.36	40.5	7.03	17.78	10.31	11.76	14.69	14.21
EV/Sales	1.34	1.3	4	5.01	4.5	3.27	3.39	2.61	2.96	11.71	28.21	3.68	2.59	2.54	2.48
EV/EBITDA	5.65	5.14	16.06	19.38	16.97	11.62	11.64	8.84	10.47	- -	- -	- -	12.22	9.88	8.96
Price/Earnings	- -	- -	70.79	28.54	31.09	15.26	15.98	9.9	13.5	- -	- -	- -	51.18	12.3	23.65
Price/Earnings Average	- -	- -	61.99	21.47	29.13	15.65	15.87	12.24	12.17	-1.45	-2.15	-3.02	41.37	9.48	23.15
Price/Earnings High	- -	- -	71.79	29.4	34.09	20.88	18.45	14.29	13.8	-3.8	-2.8	-4.42	58.1	13.7	31.04
Price/Earnings Low	- -	- -	48.22	17.75	22.57	12.26	12.8	9.19	9.36	-0.45	-1.44	-1.91	30.04	7.02	15.06
Price/Book Value	- -	- -	-36.5	68.44	23.37	8.04	6.18	3.26	3.28	-21.95	-1.58	-0.73	-1.23	-1.87	-1.8
Price/Book Value Average	- -	- -	-31.96	51.47	21.9	8.25	6.14	4.03	2.96	-19.67	-2.02	-0.97	-1	-1.44	-1.76
Price/Book Value High	- -	- -	-37.01	70.49	25.63	11	7.14	4.71	3.35	-51.6	-2.63	-1.42	-1.4	-2.08	-2.36
Price/Book Value Low	- -	- -	-24.86	42.56	16.96	6.46	4.95	3.03	2.27	-6.07	-1.35	-0.61	-0.72	-1.07	-1.15
Price/Tangible Book Value	- -	- -	3.56	8.54	9.08	4.31	3.48	2.54	2.92	1.72	4.13	-9.69	-28.56	14.19	6.36
Price/Tangible Book Value Average	- -	- -	3.12	6.43	8.51	4.42	3.46	3.13	2.63	1.55	5.28	-12.93	-23.08	10.93	6.23
Price/Tangible Book Value High	- -	- -	3.61	8.8	9.96	5.9	4.02	3.66	2.99	4.05	6.87	-18.93	-32.42	15.8	8.35
Price/Tangible Book Value Low	- -	- -	2.43	5.31	6.59	3.46	2.79	2.35	2.02	0.48	3.54	-8.16	-16.76	8.1	4.05
Price/Sales	- -	- -	2.8	3.09	3.06	1.98	2.25	1.56	1.94	5.06	11.7	1.06	0.99	1.18	1.02
Price/Sales Average	- -	- -	2.45	2.32	2.86	2.03	2.23	1.93	1.75	4.53	14.95	1.41	0.8	0.91	1
Price/Sales High	- -	- -	2.84	3.18	3.35	2.71	2.6	2.25	1.99	11.9	19.45	2.07	1.13	1.32	1.34
Price/Sales Low	- -	- -	1.91	1.92	2.22	1.59	1.8	1.45	1.35	1.4	10.03	0.89	0.58	0.67	0.65
Price/Cash Flow	- -	- -	15.15	15.19	12.74	7.64	7.58	4.56	6.89	-2.53	-3.07	24.46	4.24	5.46	4.79
Price/Cash Flow Average	- -	- -	13.27	11.43	11.94	7.84	7.53	5.63	6.21	-2.27	-3.93	32.63	3.43	4.21	4.69
Price/Cash Flow High	- -	- -	15.36	15.65	13.97	10.46	8.76	6.57	7.04	-5.96	-5.11	47.77	4.81	6.08	6.29
Price/Cash Flow Low	- -	- -	10.32	9.45	9.25	6.14	6.07	4.23	4.78	-0.7	-2.63	20.61	2.49	3.12	3.05
Price/Free Cash Flow Average	- -	- -	4.81	4.66	5.84	4.22	4.08	3.23	3.29	-3.61	-5.65	3.44	1.46	3.13	1.95
Price/Free Cash Flow High	- -	- -	5.56	6.38	6.83	5.63	4.74	3.77	3.74	-9.46	-7.35	5.03	2.04	4.52	2.62
Price/Free Cash Flow Low	- -	- -	3.74	3.85	4.52	3.3	3.29	2.43	2.53	-1.11	-3.79	2.17	1.06	2.32	1.27
EV/Sales Average	1.34	1.3	3.66	4.24	4.31	3.32	3.37	2.98	2.76	11.18	31.84	4.03	2.4	2.27	2.46
EV/Sales High	1.34	1.3	4.04	5.1	4.8	4	3.73	3.3	3	18.54	36.33	4.69	2.73	2.68	2.8
EV/Sales Low	1.34	1.3	3.11	3.84	3.66	2.88	2.94	2.49	2.36	8.04	26.91	3.51	2.18	2.04	2.11
EV/EBITDA Average	5.65	5.14	14.66	16.41	16.24	11.8	11.58	10.09	9.79	-12.59	-11.5	-26.33	11.32	8.83	8.88
EV/EBITDA High	5.65	5.14	16.22	19.73	18.08	14.21	12.83	11.18	10.62	-20.88	-13.12	-30.61	12.85	10.4	10.11
EV/EBITDA Low	5.65	5.14	12.48	14.86	13.81	10.23	10.1	8.46	8.36	-9.06	-9.72	-22.92	10.28	7.91	7.63
EV/EBIT Average	9.42	8.26	23.74	26.36	26.65	17.48	17.34	14.78	15.17	-7.63	-8.08	-12.58	22.06	14.69	15.5
EV/EBIT High	9.42	8.26	26.26	31.7	29.67	21.06	19.21	16.38	16.45	-12.65	-9.22	-14.63	25.04	17.31	17.64
EV/EBIT Low	9.42	8.26	20.2	23.86	22.67	15.16	15.12	12.39	12.95	-5.49	-6.83	-10.96	20.03	13.17	13.31
Last Price	- -	- -	35.47	46.76	58.6	42.53	53.25	42.39	58.41	25.43	20.74	12.24	20.04	25.73	22.32
High Price	- -	- -	35.97	48.16	64.27	58.19	61.48	61.18	59.71	59.78	34.48	23.9	22.75	28.64	29.29
Enterprise Value Average	2,979	2,948	9,399	13,259	18,725	16,177	18,190	18,014	17,866	14,310	20,629	19,527	20,532	21,538	24,193
Enterprise Value High	2,979	2,948	10,395	15,941	20,845	19,487	20,152	19,971	19,382	23,733	23,542	22,707	23,312	25,376	27,534
Enterprise Value Low	2,979	2,948	7,998	12,001	15,922	14,029	15,855	15,106	15,253	10,296	17,438	17,002	18,648	19,304	20,770

Shares Outstanding	200	200	205	228	228	227	229	218	213	316	417	421	426	440	455
Diluted Weighted Avg Shares	203	200	209	212	230	228	229	224	216	255	365	420	427	515	478
Basic Weighted Avg Shares	200	200	203	207	227	227	228	223	215	255	365	420	424	435	449
Revenue per Share	11.07	11.35	12.66	15.14	19.18	21.46	23.66	27.15	30.07	5.02	1.77	11.54	20.14	21.78	21.91
EBITDA per Share	2.63	2.86	3.16	3.91	5.09	6.04	6.89	8.01	8.49	-4.46	-4.91	-1.77	4.27	5.6	6.07
Operating Income per Share	1.58	1.78	1.95	2.44	3.1	4.07	4.6	5.47	5.48	-7.37	-6.98	-3.7	2.19	3.37	3.48
Basic EPS, GAAP	0.63	0.84	0.5	1.64	1.89	2.79	3.33	4.28	4.33	-15.75	-12.33	-5.41	0.39	2.09	0.94
Basic EPS from Cont Ops	0.63	0.84	0.51	1.66	1.89	2.79	3.33	4.28	4.33	-15.75	-12.33	-5.41	0.39	2.09	0.94
Diluted EPS, GAAP	0.62	0.84	0.49	1.6	1.86	2.78	3.31	4.25	4.3	-15.75	-12.33	-5.41	0.39	1.77	0.89
Diluted EPS from Cont Ops	0.62	0.84	0.49	1.62	1.86	2.78	3.31	4.25	4.3	-15.75	-12.33	-5.41	0.39	1.77	0.89
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	1.78	1.99	2.34	3.08	4.6	5.57	7.02	9.31	8.48	-10.04	-6.75	0.5	4.73	4.71	4.66
Free Cash Flow per Basic Share	0.86	0.47	-1.98	-1.59	-0.36	0.76	1	2.28	0.86	-13.75	-8.81	-3.75	-1.75	1.93	-2.61
Cash & Equivalents per Share	0.29	0.23	0.28	0.41	0.51	0.57	0.77	0.73	1.18	12.96	4.78	2.26	0.95	0.44	0.47
Book Value per Share	-2.33	-1.49	-0.97	0.68	2.51	5.29	8.61	13	17.82	-1.16	-13.12	-16.83	-16.26	-13.76	-12.41
Tangible Book Value per Share	6.19	7.02	9.95	5.47	6.45	9.87	15.3	16.72	20	14.74	5.02	-1.26	-0.7	1.81	3.51

Norwegian Cruise Line Holdings Ltd.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)