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 (%)	7.08	8.75	4.4	11.04	11.7	15.22	14.77	16.3	14.91	-73.83	-132.81	-181.5	89.97	105.46	23.29
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 (%)	6.4	7.24	6.58	- -	6.53	8.59	8.91	9.96	- -	- -	- -	- -	- -	- -	8.71
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 (%)	7.08	8.75	4.4	11.04	11.7	15.22	14.77	16.3	14.91	-73.83	-132.81	-181.5	89.97	105.46	23.29

Credit (USD)

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	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	33.16	33.85	39.23	30.68	30.83	34.98	40.79	39.21	39.05	23.66	12.99	0.37	1.54	7.14	9.8
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 (%)	58.12	55.24	49.33	57.33	56.67	53.39	47.18	46.65	45.47	72.28	77.76	92.26	85.75	81.07	81.65
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 (%)	62.22	59.66	54.31	63.34	62.85	58.51	52.31	52.12	51.07	73.06	83.65	99.5	97.91	90.19	86.86
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 (%)	61.76	59.29	53.86	63.01	62.43	58.02	51.61	51.49	50.13	66.14	81.81	99.46	97.84	90.06	86.69
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)

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	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	33.16	33.85	39.23	30.68	30.83	34.98	40.79	39.21	39.05	23.66	12.99	0.37	1.54	7.14	9.8
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 (%)	58.12	55.24	49.33	57.33	56.67	53.39	47.18	46.65	45.47	72.28	77.76	92.26	85.75	81.07	81.65
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 (%)	62.22	59.66	54.31	63.34	62.85	58.51	52.31	52.12	51.07	73.06	83.65	99.5	97.91	90.19	86.86
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	0.5	0.47	1.55	1.09	1.37	1.22	1.42	1.14	1.21	0.18	-0.14	-0.06	0.58	0.81	0.75

Working Capital (USD)

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	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)

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	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	- -	- -	7,277	10,644	13,350	9,665	12,169	9,226	12,446	8,027	8,646	5,158	8,528	11,318	10,161
- 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	10,371	16,639	19,632	15,935	18,301	15,554	18,995	16,532	19,346	17,833	22,184	24,227	24,558
Total Capital	4,883	5,004	5,759	9,599	10,178	10,936	12,058	12,455	13,317	16,160	14,879	13,690	14,360	14,526	16,816
Total Debt/Capital (%)	62.22	59.66	54.31	63.34	62.85	58.51	52.31	52.12	51.07	73.06	83.65	99.5	97.91	90.19	86.86
Total Debt / EV	1.02	1.01	0.3	0.37	0.33	0.4	0.34	0.42	0.36	0.71	0.64	0.76	0.63	0.54	0.59
EV/Sales	1.34	1.3	4.03	5.32	4.52	3.27	3.39	2.57	2.94	12.92	29.86	3.68	2.59	2.56	2.5
EV/EBITDA	5.65	5.14	16.18	20.6	17.03	11.62	11.65	8.71	10.41	- -	- -	- -	12.23	9.93	9.02
EV/EBIT	9.42	8.26	26.2	33.08	27.95	17.22	17.45	12.76	16.12	- -	- -	- -	23.83	16.53	15.73
EV/Cash Flow to Firm	5.47	5.02	14.23	21.11	15.57	10.36	9.81	6.64	9.24	- -	- -	17.67	8.08	8.27	8.1
EV/Free Cash Flow to Firm	4.08	3.31	6.46	9.49	8.24	6.06	5.65	3.98	5.14	- -	53.71	6.38	4.04	5.85	3.9
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	50.55	73.1	86.17	70.12	80.08	71.47	89.14	52.38	46.41	42.32	52.13	55.08	53.94
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)

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	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	26.2	33.08	27.95	17.22	17.45	12.76	16.12	- -	- -	- -	23.83	16.53	15.73
Enterprise Value	2,979	2,948	10,371	16,639	19,632	15,935	18,301	15,554	18,995	16,532	19,346	17,833	22,184	24,227	24,558
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	4.03	5.32	4.52	3.27	3.39	2.57	2.94	12.92	29.86	3.68	2.59	2.56	2.5
EV/EBITDA	5.65	5.14	16.18	20.6	17.03	11.62	11.65	8.71	10.41	- -	- -	- -	12.23	9.93	9.02
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	- -	- -	2.79	3.02	3.53	2.13	2.12	1.55	1.91	1.84	3.55	75.2	28.35	7.94	4.6
Price/Book Value Average	- -	- -	2.44	2.28	3.31	2.18	2.1	1.91	1.72	1.65	4.54	100.3	22.92	6.12	4.5
Price/Book Value High	- -	- -	2.83	3.12	3.87	2.91	2.44	2.23	1.95	4.33	5.91	146.84	32.18	8.84	6.03
Price/Book Value Low	- -	- -	1.9	1.88	2.56	1.71	1.69	1.44	1.32	0.51	3.05	63.34	16.64	4.53	2.93
Price/Tangible Book Value	- -	- -	3.64	9.42	9.13	4.31	3.49	2.47	2.9	2.14	4.71	-9.73	-28.63	14.34	6.46
Price/Tangible Book Value Average	- -	- -	3.19	7.08	8.55	4.42	3.46	3.06	2.61	1.92	6.03	-12.98	-23.14	11.05	6.32
Price/Tangible Book Value High	- -	- -	3.69	9.7	10.01	5.9	4.03	3.57	2.96	5.02	7.84	-19	-32.5	15.96	8.47
Price/Tangible Book Value Low	- -	- -	2.48	5.86	6.63	3.46	2.79	2.3	2.01	0.59	4.04	-8.2	-16.8	8.19	4.11
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	3.68	4.48	4.32	3.32	3.38	2.93	2.75	12.26	33.94	4.04	2.4	2.28	2.48
EV/Sales High	1.34	1.3	4.07	5.42	4.82	4	3.74	3.24	2.98	21.39	39.07	4.7	2.73	2.69	2.82
EV/Sales Low	1.34	1.3	3.13	4.04	3.68	2.88	2.94	2.46	2.35	8.38	28.32	3.51	2.18	2.04	2.12
EV/EBITDA Average	5.65	5.14	14.77	17.33	16.3	11.8	11.6	9.93	9.74	-13.81	-12.26	-26.36	11.33	8.87	8.94
EV/EBITDA High	5.65	5.14	16.34	20.99	18.15	14.22	12.85	11	10.56	-24.08	-14.11	-30.67	12.86	10.46	10.18
EV/EBITDA Low	5.65	5.14	12.56	15.62	13.86	10.23	10.11	8.34	8.32	-9.43	-10.23	-22.95	10.29	7.94	7.66
EV/EBIT Average	9.42	8.26	23.91	27.84	26.75	17.49	17.37	14.55	15.08	-8.37	-8.62	-12.6	22.07	14.75	15.59
EV/EBIT High	9.42	8.26	26.46	33.72	29.78	21.06	19.24	16.11	16.36	-14.59	-9.92	-14.66	25.07	17.4	17.77
EV/EBIT Low	9.42	8.26	20.33	25.08	22.74	15.16	15.14	12.22	12.88	-5.72	-7.19	-10.97	20.05	13.21	13.37
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	9,466	14,001	18,792	16,182	18,216	17,734	17,769	15,697	21,993	19,554	20,550	21,629	24,340
Enterprise Value High	2,979	2,948	10,473	16,958	20,923	19,494	20,182	19,644	19,272	27,374	25,316	22,746	23,338	25,507	27,731
Enterprise Value Low	2,979	2,948	8,050	12,615	15,974	14,033	15,876	14,895	15,179	10,725	18,352	17,019	18,661	19,371	20,865

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	0.37	0.51	0.56	0.77	0.75	1.19	10.46	4.19	2.25	0.95	0.43	0.46
Book Value per Share	9.2	10.03	12.72	15.46	16.6	19.97	25.16	27.4	30.58	13.79	5.84	0.16	0.71	3.24	4.85
Tangible Book Value per Share	6.19	6.98	9.74	4.97	6.42	9.86	15.26	17.13	20.17	11.9	4.4	-1.26	-0.7	1.79	3.46

Norwegian Cruise Line Holdings Ltd.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)