Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.87B | $5.40B | $6.06B | $6.46B | $1.28B | $648M | $4.84B | $8.55B | $9.48B | $9.83B |
| Revenue growth | — | 10.7% | 12.2% | 6.7% | -80.2% | -49.4% | 647.5% | 76.5% | 10.9% | 3.7% |
| Operating income | $925M | $1.05B | $1.22B | $1.18B | -$3.48B | -$2.55B | -$1.55B | $931M | $1.47B | $1.56B |
| Operating margin | 19.0% | 19.4% | 20.1% | 18.2% | -272.2% | -393.9% | -32.0% | 10.9% | 15.5% | 15.9% |
| Net income | $633M | $760M | $955M | $930M | -$4.01B | -$4.51B | -$2.27B | $166M | $910M | $423M |
| Net margin | 13.0% | 14.1% | 15.8% | 14.4% | -313.5% | -695.5% | -46.9% | 1.9% | 9.6% | 4.3% |
| EPS (diluted) | $2.78 | $3.31 | $4.25 | $4.30 | -$15.75 | -$12.33 | -$5.41 | $0.39 | $1.89 | $0.92 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.26B | $1.60B | $2.08B | $1.82B | -$2.56B | -$2.47B | $210M | $2.01B | $2.05B | $2.09B |
| Capital expenditures | $1.09B | $1.37B | $1.57B | $1.64B | $947M | $753M | $1.78B | $2.75B | $1.21B | $3.26B |
| Free cash flow | $172M | $229M | $508M | $185M | -$3.50B | -$3.22B | -$1.57B | -$745M | $839M | -$1.17B |
| Share buybacks | $50.0M | — | $665M | $350M | — | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $128M | $176M | $164M | $253M | $3.30B | $1.51B | $947M | $402M | $191M | $210M |
| Total assets | $13.0B | $14.1B | $15.2B | $16.7B | $18.4B | $18.7B | $18.6B | $19.5B | $20.0B | $22.5B |
| Total liabilities | $8.44B | $8.35B | $9.24B | $10.2B | $14.0B | $16.3B | $18.5B | $19.2B | $18.5B | $20.3B |
| Long-term debt | — | — | — | — | $1.55B | — | — | — | — | — |
| Shareholders' equity | $4.54B | $5.75B | $5.96B | $6.52B | $4.35B | $2.43B | $68.6M | $301M | $1.43B | $2.21B |
| Retained earnings | $1.20B | $1.96B | $2.90B | $3.83B | -$295M | -$4.80B | -$7.07B | -$6.90B | -$5.99B | -$5.57B |
| Shares (wtd avg diluted) | 228M | 229M | 224M | 216M | 255M | 365M | 420M | 427M | 515M | 478M |
Every figure is extracted from Norwegian Cruise Line Holdings Ltd.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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