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Held by 614 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 19%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $210M is below the $1.8B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-03-31 (10-Q).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $14.39 today, the market must believe free cash flow compounds -5.9%/yr for a decade (off $839M normalized FCF).
2-stage DCF · 0.46B shares · net debt -$210M
mean -427.4% · volatility σ 883% · implied rate exceeded in 2/5 yrs
Central path = implied -5.9%/yr growth; shaded band = ±1σ (883%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
5/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$1.2B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.83B 100.0% | $9.48B 100.0% | $8.55B 100.0% | $4.84B 100.0% | $648.0M 100.0% | $1.28B 100.0% | $6.46B 100.0% | $6.06B 100.0% | $5.40B 100.0% | $4.87B 100.0% |
| Cost of Revenue | $5.64B 57.4% | $5.69B 60.0% | $5.47B 64.0% | $4.27B 88.1% | $1.61B 248.2% | $1.69B 132.3% | $3.66B 56.7% | — | — | — |
| Selling, General & Admin | $1.55B 15.8% | $1.43B 15.1% | $1.34B 15.7% | $1.38B 28.5% | $891.5M 137.6% | $745.3M 58.2% | $974.9M 15.1% | $897.9M 14.8% | $773.8M 14.3% | $666.2M 13.7% |
| Total Operating Expenses | $2.63B 26.7% | $2.33B 24.5% | $2.15B 25.2% | $2.13B 43.9% | $1.59B 245.7% | $3.07B 239.9% | $1.62B 25.1% | $1.46B 24.1% | $1.28B 23.8% | $1.10B 22.5% |
| Operating Income | $1.56B 15.9% | $1.47B 15.5% | $930.9M 10.9% | -$1.55B -32.0% | -$2.55B -393.9% | -$3.48B -272.2% | $1.18B 18.2% | $1.22B 20.1% | $1.05B 19.4% | $925.5M 19.0% |
| Interest Expense | — | — | $727.5M 8.5% | $801.5M 16.5% | $2.10B 324.1% | $482.3M 37.7% | $272.9M 4.2% | $270.4M 4.5% | $267.8M 5.0% | $276.9M 5.7% |
| Other Income (Expense), net | -$1.13B -11.5% | -$693.0M -7.3% | -$767.7M -9.0% | -$724.9M -15.0% | -$1.95B -300.8% | -$515.9M -40.3% | -$266.7M -4.1% | -$249.8M -4.1% | -$278.2M -5.2% | -$285.2M -5.9% |
| Pretax Income | $428.7M 4.4% | $772.9M 8.2% | $163.2M 1.9% | -$2.28B -47.0% | -$4.50B -694.7% | -$4.00B -312.5% | $911.4M 14.1% | $969.3M 16.0% | $770.6M 14.3% | $640.3M 13.1% |
| Income Tax Expense | $5.5M 0.1% | -$137.3M -1.4% | -$3.0M -0.0% | -$6.8M -0.1% | $5.3M 0.8% | $12.5M 1.0% | -$18.9M -0.3% | $14.5M 0.2% | $10.7M 0.2% | $7.2M 0.1% |
| Net Income | $423.2M 4.3% | $910.3M 9.6% | $166.2M 1.9% | -$2.27B -46.9% | -$4.51B -695.5% | -$4.01B -313.5% | $930.2M 14.4% | $954.8M 15.8% | $759.9M 14.1% | $633.1M 13.0% |
| Per Share | ||||||||||
| EPS (Basic) | $0.94 | $2.09 | $0.39 | $-5.41 | $-12.33 | $-15.75 | $4.33 | $4.28 | $3.33 | $2.79 |
| EPS (Diluted) | $0.92 | $1.89 | $0.39 | $-5.41 | $-12.33 | $-15.75 | $4.30 | $4.25 | $3.31 | $2.78 |
| Weighted Avg Shares (Basic) | 448.5M | 435.3M | 424.4M | 419.8M | 365.4M | 254.7M | 214.9M | 223.0M | 228.0M | 227.1M |
| Weighted Avg Shares (Diluted) | 477.7M | 515.0M | 427.4M | 419.8M | 365.4M | 254.7M | 216.5M | 224.4M | 229.4M | 227.9M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 490 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMZN | $2.70T | — | — | — | — | — | — | 20.5% | 16.2% | — | 5,764 |
| TSLA | $1.37T | 339.1× | 145.5× | 14.5× | -2.9% | 18.0% | 4.0% | 4.6% | 4.2% | 0.9× | 4,029 |
| TM | $614.2B | 60.0× | 24.8× | 2.6× | 3.8% | 18.4% | 4.4% | 7.9% | 5.9% | 1.7× | 665 |
| PDD | $442.6B | 32.9× | 31.9× | 7.2× | 14.5% | 56.3% | 22.7% | 23.7% | 23.7% | — | 548 |
| HD | $301.3B | 21.3× | 14.3× | 1.8× | 3.2% | 33.3% | 8.6% | 110% | 22.8% | 2.0× | 3,970 |
| BABA | $201.7B | 135.7× | — | 1.4× | 8.1% | 39.8% | 10.1% | 9.8% | 9.8% | — | 1,298 |
| TJX | $140.1B | 26.0× | — | 2.3× | 7.1% | 31.0% | 9.1% | 53.9% | 42.1% | — | 2,608 |
| HTHT | $132.7B | 187.9× | 114.3× | — | — | — | — | 39.7% | 27.3% | 0.7× | 258 |
| SBUX | $109.9B | 59.3× | 26.8× | 3.0× | 2.8% | — | 5.0% | -22.9% | 23.3% | 3.4× | 2,252 |
| LOW | $108.9B | 16.4× | 12.0× | 1.3× | 3.1% | 33.5% | 7.7% | -67.1% | 22.3% | 3.2× | 2,591 |
| ABNB | $101.7B | — | 37.9× | 8.3× | 10.3% | 83.0% | 20.5% | 30.6% | 24.6% | 0.8× | 1,246 |
| MELI | $92.5B | 46.3× | — | 3.2× | 39.1% | 44.5% | 6.9% | 29.6% | 12.5% | — | 1,380 |
| MAR | $88.8B | 35.1× | 20.6× | 3.4× | 4.3% | — | 9.9% | -69.0% | -69.4% | 0.0× | 1,559 |
| LKNCY | $86.3B | 168.2× | 90.8× | 12.3× | 48.9% | — | 7.3% | 23.0% | 23.0% | — | 9 |
| GM | $78.3B | 26.5× | 3.9× | 0.4× | -1.3% | — | 1.5% | 4.4% | 4.4% | — | 1,447 |
| ROST | $74.0B | 34.7× | 22.0× | 3.3× | 7.7% | 27.7% | 9.4% | 34.7% | 27.8% | 0.5× | 1,276 |
| ORLY | $71.5B | 28.6× | 19.5× | 4.0× | 6.4% | 51.6% | 14.3% | -333% | 48.3% | 1.5× | 1,569 |
| HLT | $69.7B | 49.4× | 24.0× | 5.8× | 7.7% | — | 12.1% | -27.0% | -27.0% | — | 1,126 |
| RCL | $67.7B | 16.0× | — | 3.8× | 8.8% | 49.4% | 23.8% | 42.5% | 32.3% | — | 1,114 |
| SE | $62.0B | 40.2× | 24.6× | 2.7× | 36.4% | 44.7% | 6.9% | 12.6% | 12.6% | — | 718 |
| F | $54.2B | — | 4.5× | 0.3× | 1.2% | 6.8% | -4.4% | -22.7% | -22.7% | — | — |
| NKE | $53.9B | 17.3× | — | 1.2× | 0.2% | 42.9% | 6.7% | 20.9% | 13.6% | — | 1,848 |
| EBAY | $50.7B | 26.0× | 18.4× | 4.6× | 7.9% | 71.5% | 18.3% | 45.3% | 38.8% | 0.3× | 1,182 |
| AZO | $47.8B | 19.6× | 13.3× | 2.5× | 2.4% | 52.6% | 13.2% | -73.2% | 46.4% | 2.1× | 1,245 |
| CMG | $44.8B | 29.4× | 19.4× | 3.8× | 5.4% | — | 12.9% | 54.3% | 54.3% | 0.0× | 1,203 |
| NCLH | $6.6B | 15.6× | 2.3× | 0.7× | 3.7% | 42.6% | 4.3% | 19.2% | 19.2% | — | 614 |
Peers = companies sharing NCLH's sector (Consumer Cyclical) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
Where each multiple sits in its own 13-yr range · 22th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | 56.7 | 132.3 | 248.2 | 88.1 | 64.0 | 60.0 | 57.4 |
| SG&A | 14.8 | 15.1 | 58.2 | 137.6 | 28.5 | 15.7 | 15.1 | 15.8 |
| Operating Income | 20.1 | 18.2 | -272.2 | -393.9 | -32.0 | 10.9 | 15.5 | 15.9 |
| Income Tax | 0.2 | -0.3 | 1.0 | 0.8 | -0.1 | -0.0 | -1.4 | 0.1 |
| Net Income | 15.8 | 14.4 | -313.5 | -695.5 | -46.9 | 1.9 | 9.6 | 4.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NCLH: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.