Norwegian Cruise Line (NCLH) vs Royal Caribbean Cruises (RCL)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Royal Caribbean Cruises (RCL) has outperformed Norwegian Cruise Line (NCLH) over the past year, losing 8.7% versus a loss of 34.6%. Over five years, RCL leads with a +226.0% price change compared with -41.6% for NCLH. Royal Caribbean Cruises is the larger company by market cap ($75.49 billion vs $7.15 billion), about 10.6 times the size.
On valuation, Norwegian Cruise Line trades at a lower forward P/E (9.6x vs 13.8x for Royal Caribbean Cruises). Royal Caribbean Cruises pays a dividend yielding 1.77%, while Norwegian Cruise Line does not currently pay one. Royal Caribbean Cruises converts more of its revenue into profit, with a net margin of 23.8% 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 | NCLH | RCL |
|---|---|---|
| Share price | $15.57 | $282.26 |
| Market cap | $7.15B | $75.49B |
| 1-day change | +0.52% | +0.30% |
| YTD return | -30.60% | +0.89% |
| 1-year return | -34.59% | -8.72% |
| 5-year return | -41.61% | +226.01% |
| P/E ratio (TTM) | 9.61 | 17.42 |
| Forward P/E | 9.64 | 13.82 |
| EPS (TTM) | $1.62 | $16.20 |
| Dividend yield | 0.00% | 1.77% |
| Annual dividend | $0.00 | $5.00 |
| Revenue (latest FY) | $9.83B | $17.93B |
| Revenue growth (YoY) | +3.67% | +8.80% |
| Net income (latest FY) | $423.25M | $4.27B |
| Gross margin | 42.62% | 49.36% |
| Operating margin | 15.88% | 27.38% |
| Net margin | 4.31% | 23.80% |
| 52-week high | $25.13 | $356.39 |
| 52-week low | $13.63 | $222.22 |
| Distance from 52-week high | -38.04% | -20.80% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +28.97% | +24.12% |
| Average volume | 16.76M | 2.44M |
| Shares outstanding | 459.19M | 267.45M |
| Employees | 44,500 | 107,950 |
| Sector | Consumer Discretionary | Consumer Discretionary |
| Industry | Marine Transportation | 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
- Royal Caribbean Cruises is about 10.6 times larger than Norwegian Cruise Line by market value ($75.49B vs $7.15B).
- RCL has outperformed NCLH by 25.9 percentage points over the past year.
- Royal Caribbean Cruises trades at a higher earnings multiple (17.4x vs 9.6x trailing P/E).
- Royal Caribbean Cruises offers a meaningfully higher dividend yield (1.77% vs 0.00%).
- Royal Caribbean Cruises is more profitable, keeping 23.8 cents of every revenue dollar as net income versus 4.3 cents for Norwegian Cruise Line.
- Royal Caribbean Cruises grew revenue faster in its latest fiscal year (+8.80% vs +3.67%).
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
About Royal Caribbean Cruises
RCL stock →Royal Caribbean Cruises Ltd. operates as a cruise company worldwide.
Consumer Discretionary · Marine Transportation · 107,950 employees
NCLH vs RCL FAQ
Which is bigger, Norwegian Cruise Line or Royal Caribbean Cruises?
Royal Caribbean Cruises (RCL) is larger, with a market capitalization of $75.49B compared with $7.15B for Norwegian Cruise Line (NCLH).
Which stock has performed better over the past year, NCLH or RCL?
RCL returned -8.72% 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, NCLH or RCL?
NCLH has the lower trailing P/E at 9.6, versus 17.4 for RCL. 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, Norwegian Cruise Line or Royal Caribbean Cruises?
Royal Caribbean Cruises pays a dividend yielding 1.77%, while Norwegian Cruise Line does not currently pay a regular dividend.
Are Norwegian Cruise Line and Royal Caribbean Cruises in the same industry?
Yes. Both are classified in the Marine Transportation industry within the Consumer Discretionary sector.