Carnival (CCL) vs Norwegian Cruise Line (NCLH)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Carnival (CCL) has outperformed Norwegian Cruise Line (NCLH) over the past year, losing 9.6% versus a loss of 34.6%. Over five years, CCL leads with a +10.4% price change compared with -41.6% for NCLH. Carnival is the larger company by market cap ($35.13 billion vs $7.11 billion), about 4.9 times the size.
On valuation, Norwegian Cruise Line trades at a lower forward P/E (9.4x vs 10.2x for Carnival). Carnival pays a dividend yielding 1.72%, while Norwegian Cruise Line does not currently pay one. Carnival converts more of its revenue into profit, with a net margin of 10.4% versus 4.3%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CCL | NCLH |
|---|---|---|
| Share price | $26.13 | $15.49 |
| Market cap | $35.13B | $7.11B |
| 1-day change | -0.08% | +2.92% |
| YTD return | -14.44% | -30.60% |
| 1-year return | -9.65% | -34.59% |
| 5-year return | +10.39% | -41.61% |
| P/E ratio (TTM) | 11.51 | 9.56 |
| Forward P/E | 10.20 | 9.44 |
| EPS (TTM) | $2.27 | $1.62 |
| Dividend yield | 1.72% | 0.00% |
| Annual dividend | $0.45 | $0.00 |
| Revenue (latest FY) | $26.62B | $9.83B |
| Revenue growth (YoY) | +6.40% | +3.67% |
| Net income (latest FY) | $2.76B | $423.25M |
| Gross margin | — | 42.62% |
| Operating margin | 16.84% | 15.88% |
| Net margin | 10.37% | 4.31% |
| 52-week high | $34.03 | $25.13 |
| 52-week low | $21.45 | $13.63 |
| Distance from 52-week high | -23.21% | -38.36% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +29.85% | +29.63% |
| Average volume | 21.18M | 16.76M |
| Shares outstanding | 1.34B | 459.19M |
| Employees | 160,000 | 44,500 |
| Sector | Consumer Cyclical | Consumer Discretionary |
| Industry | Travel Services | Marine Transportation |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Carnival is about 4.9 times larger than Norwegian Cruise Line by market value ($35.13B vs $7.11B).
- CCL has outperformed NCLH by 24.9 percentage points over the past year.
- Carnival offers a meaningfully higher dividend yield (1.72% vs 0.00%).
- Carnival is more profitable, keeping 10.4 cents of every revenue dollar as net income versus 4.3 cents for Norwegian Cruise Line.
- The two companies sit in different sectors: Carnival in Consumer Cyclical and Norwegian Cruise Line in Consumer Discretionary.
About Carnival
CCL stock →Carnival Corporation Ltd., a cruise company, provides leisure travel services. The company operates through four segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other.
Consumer Cyclical · Travel Services · 160,000 employees
About Norwegian Cruise Line
NCLH stock →Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. It offers itineraries to destinations, such as Europe, Asia, Australia, New Zealand, South America, Africa, Canada, Bermuda, the Caribbean, and Alaska; and inter-island itinerary in Hawaii.
Consumer Discretionary · Marine Transportation · 44,500 employees
CCL vs NCLH FAQ
Which is bigger, Carnival or Norwegian Cruise Line?
Carnival (CCL) is larger, with a market capitalization of $35.13B compared with $7.11B for Norwegian Cruise Line (NCLH).
Which stock has performed better over the past year, CCL or NCLH?
CCL returned -9.65% over the past 12 months, compared with -34.59% for NCLH (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CCL or NCLH?
NCLH has the lower trailing P/E at 9.6, versus 11.5 for CCL. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Carnival or Norwegian Cruise Line?
Carnival pays a dividend yielding 1.72%, while Norwegian Cruise Line does not currently pay a regular dividend.
Are Carnival and Norwegian Cruise Line in the same industry?
No. Carnival is in the Consumer Cyclical sector, while Norwegian Cruise Line is in Consumer Discretionary.