Norwegian Cruise Line market cap is $11.6 b, and annual revenue was $6.06 b in FY 2018

Norwegian Cruise Line Net income (Q2, 2019)240.2 M

Norwegian Cruise Line EBIT (Q2, 2019)308.7 M

Norwegian Cruise Line Cash, 30-Jun-2019419.9 M

Norwegian Cruise Line EV17.5 B

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|---|

## Revenue | 2.6b | 3.1b | 4.3b | 4.9b | 5.4b | 6.1b |

| 22% | 39% | 12% | |||

## General and administrative expense | 301.2m | 555.0m | 666.2m | 773.8m | 897.9m | |

## Operating expense total | 301.2m | 555.0m | 666.2m | 773.8m | 897.9m | |

## Depreciation and amortization | 215.6m | 432.1m | 432.5m | 510.0m | 561.1m | |

## EBIT | 395.9m | 502.9m | 702.5m | 925.5m | 1.0b | 1.2b |

| 15% | 16% | 16% | 19% | 19% | 20% |

## Interest expense | 282.6m | 151.8m | 221.9m | 276.9m | 267.8m | 270.4m |

## Pre tax profit | 114.7m | 340.3m | 433.9m | 640.3m | 770.6m | 969.3m |

## Income tax expense | (11.8m) | 2.3m | (6.8m) | (7.2m) | (10.7m) | (14.5m) |

## Net Income | 102.9m | 342.6m | 427.1m | 633.1m | 759.9m | 954.8m |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|---|

## Cash | 56.5m | 82.9m | 115.9m | 126.0m | 176.2m | 163.9m |

## Accounts Receivable | 18.3m | 32.4m | 45.0m | 63.2m | 44.0m | 55.2m |

## Inventories | 43.7m | 56.6m | 58.2m | 66.3m | 82.1m | 90.2m |

## Current Assets | 182.9m | 284.8m | 340.4m | 408.7m | 518.3m | 550.3m |

## PP&E | 5.6b | 8.6b | 9.5b | 10.1b | 11.0b | 12.1b |

## Goodwill | 1.4b | 1.4b | 1.4b | 1.4b | ||

## Total Assets | 6.7b | 11.6b | 12.3b | 13.0b | 14.1b | 15.2b |

## Accounts Payable | 86.8m | 102.0m | 51.4m | 37.9m | 53.4m | 159.6m |

## Short-term debt | 286.6m | 576.9m | 629.8m | 560.2m | 619.4m | 681.2m |

## Current Liabilities | 1.1b | 2.1b | 2.4b | 2.4b | 2.5b | 3.2b |

## Long-term debt | 2.8b | 5.6b | 5.8b | 5.8b | 5.7b | 5.8b |

## Total Debt | 3.1b | 6.2b | 6.4b | 6.4b | 6.3b | 6.5b |

## Total Liabilities | 4.0b | 8.5b | 8.5b | 8.3b | 9.2b | |

## Additional Paid-in Capital | 2.8b | 3.7b | 3.8b | 3.8b | 4.0b | 4.1b |

## Retained Earnings | (197.5m) | 76.3m | 568.0m | 1.0b | 2.0b | 2.9b |

## Total Equity | 2.6b | 3.5b | 3.8b | 4.5b | 5.7b | 6.0b |

## Debt to Equity Ratio | 1.2 x | 1.8 x | 1.7 x | 1.4 x | 1.1 x | |

## Debt to Assets Ratio | 0.5 x | 0.5 x | 0.5 x | 0.5 x | 0.4 x | |

## Financial Leverage | 2.5 x | 3.3 x | 3.2 x | 2.9 x | 2.5 x | 2.6 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|---|

## Net Income | 102.9m | 339.1m | 427.1m | 633.1m | 759.9m | 954.8m |

## Depreciation and Amortization | 245.1m | 273.1m | 450.3m | 445.6m | 521.5m | 567.0m |

## Accounts Receivable | (3.2m) | (10.3m) | (14.8m) | (21.0m) | 15.1m | (15.9m) |

## Inventories | (4.0m) | (261.0k) | (4.4m) | (9.2m) | (17.1m) | (9.1m) |

## Accounts Payable | 7.7m | 315.0k | (50.7m) | (5.8m) | 14.0m | 106.4m |

## Cash From Operating Activities | 475.3m | 645.1m | 1.0b | 1.2b | 1.6b | 2.1b |

## Purchases of PP&E | (894.9m) | |||||

## Cash From Investing Activities | (894.9m) | (1.9b) | (1.2b) | (1.1b) | (1.4b) | (1.5b) |

## Long-term Borrowings | (2.4b) | (1.7b) | (1.6b) | (3.7b) | (1.9b) | (1.7b) |

## Cash From Financing Activities | 430.5m | 1.3b | 196.2m | (98.3m) | (133.0m) | (584.8m) |

USD | Y, 2019 |
---|---|

## EV/EBIT | 56.5 x |

## EV/CFO | 16.4 x |

## Financial Leverage | 2.6 x |

FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2016 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2017 | FY, 2016 | Q1, 2017 | Q2, 2017 | |
---|---|---|---|---|---|---|---|---|---|---|---|

## Available Passenger Cruise Days | 12.51 m | 3.56 m | 3.63 m | 3.70 m | 14.70 m | 3.99 m | 3.97 m | 4.21 m | 16.38 m | 4.03 m | 4.19 m |

## Berths | 40 k | 45 k | 45.80 k | 46.50 k | 46.50 k | 46.50 k | 46.50 k | 50.40 k | |||

## Cruise Ships Ordered | 10 | ||||||||||

## Destinations | 420 | 510 | |||||||||

## Occupancy Rate | 109% | 106% | 108.7% | 113.9% | 109% | 107.4% | 106.6% | 111% | 107.4% | 105% | 107.8% |

## Ocean Cruise Ships Fleet | 21 | 22 | 23 | 24 | 24 | 24 | 24 | 25 | |||

## Passenger Cruise Days | 13.63 m | 3.77 m | 3.95 m | 4.21 m | 16.03 m | 4.29 m | 4.24 m | 4.67 m | 17.59 m | 4.23 m | 4.52 m |

## Passengers | 1.93 m | 513.53 k | 527.68 k | 574.01 k | 2.16 m | 551.48 k | 574.84 k | 635.65 k | 2.34 m | 528.35 k | 569.86 k |