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How Norwegian Cruise Line Holdings (NCLH) makes money
Norwegian Cruise Line Holdings (NCLH) made $2.9B of revenue in the third quarter 2026 (Q3 2026), +0.3% from a year earlier. Passenger ticket brought in $1.9B (66%); Onboard and other brought in $1.0B (34%). Of every dollar of revenue, 21¢ was left as operating profit, 17¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Passenger ticket | $1.9B | 66.0% | +12% | -5% |
| Onboard and other | $1.0B | 34.0% | +10% | +13% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.9B | 100.0% |
| Operating profit | $624M | 21.2% |
| Net earnings | $491M | 16.7% |
| Operating cash flow | $292M | 9.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.9B | +0.3% |
| Q2 2026 | $2.6B | +5% |
| Q1 2026 | $2.3B | +10% |
| Q4 2025 | $2.2B | +6% |
| Q3 2025 | $2.9B | +5% |
| Q2 2025 | $2.5B | +6% |
| Q1 2025 | $2.1B | -3% |
From Norwegian Cruise Line Holdings' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Norwegian Cruise Line Holdings make money?
Norwegian Cruise Line Holdings (NCLH) made $2.9B of revenue in the third quarter 2026 (Q3 2026), +0.3% from a year earlier. Passenger ticket brought in $1.9B (66%); Onboard and other brought in $1.0B (34%). Of every dollar of revenue, 21¢ was left as operating profit, 17¢ was left as net earnings.
What is Norwegian Cruise Line Holdings' biggest business?
Passenger ticket: $1.9B in the third quarter 2026, 66% of revenue, -5% from a year earlier.
What is Norwegian Cruise Line Holdings' profit margin?
Net earnings were $491M, 16.7% of revenue, in the third quarter 2026; the operating margin was 21.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.