Norwegian Cruise Line (NCLH) vs Travel Leisure (TNL)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Travel Leisure (TNL) has outperformed Norwegian Cruise Line (NCLH) over the past year, gaining 3.8% versus a loss of 34.6%. Over five years, TNL leads with a +14.5% price change compared with -41.6% for NCLH. Norwegian Cruise Line is the larger company by market cap ($7.11 billion vs $3.84 billion), about 1.9 times the size, while Travel Leisure is growing revenue faster (+4.1% vs +3.7%).
On valuation, Travel Leisure trades at a lower forward P/E (7.1x vs 9.5x for Norwegian Cruise Line). Travel Leisure pays a dividend yielding 3.71%, while Norwegian Cruise Line does not currently pay one. Travel Leisure converts more of its revenue into profit, with a net margin of 5.7% 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 | TNL |
|---|---|---|
| Share price | $15.49 | $62.61 |
| Market cap | $7.11B | $3.84B |
| 1-day change | +2.92% | -0.46% |
| YTD return | -30.60% | -11.23% |
| 1-year return | -34.59% | +3.78% |
| 5-year return | -41.61% | +14.46% |
| P/E ratio (TTM) | 9.56 | 17.11 |
| Forward P/E | 9.54 | 7.14 |
| EPS (TTM) | $1.62 | $3.66 |
| Dividend yield | 0.00% | 3.71% |
| Annual dividend | $0.00 | $2.32 |
| Revenue (latest FY) | $9.83B | $4.02B |
| Revenue growth (YoY) | +3.67% | +4.06% |
| Net income (latest FY) | $423.25M | $230.00M |
| Gross margin | 42.62% | 93.21% |
| Operating margin | 15.88% | 13.75% |
| Net margin | 4.31% | 5.72% |
| 52-week high | $25.13 | $81.00 |
| 52-week low | $13.63 | $58.07 |
| Distance from 52-week high | -38.36% | -22.70% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +29.63% | +45.62% |
| Average volume | 16.76M | 738.70K |
| Shares outstanding | 459.19M | 61.28M |
| Employees | 44,500 | 19,000 |
| Sector | Consumer Discretionary | Consumer Discretionary |
| Industry | Marine Transportation | Hotels/Resorts |
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
- TNL has outperformed NCLH by 38.4 percentage points over the past year.
- Travel Leisure trades at a higher earnings multiple (17.1x vs 9.6x trailing P/E).
- Travel Leisure offers a meaningfully higher dividend yield (3.71% vs 0.00%).
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 Travel Leisure
TNL stock →Travel + Leisure Co., together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership.
Consumer Discretionary · Hotels/Resorts · 19,000 employees
NCLH vs TNL FAQ
Which is bigger, Norwegian Cruise Line or Travel Leisure?
Norwegian Cruise Line (NCLH) is larger, with a market capitalization of $7.11B compared with $3.84B for Travel Leisure (TNL).
Which stock has performed better over the past year, NCLH or TNL?
TNL returned +3.78% 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 TNL?
NCLH has the lower trailing P/E at 9.6, versus 17.1 for TNL. 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 Travel Leisure?
Travel Leisure pays a dividend yielding 3.71%, while Norwegian Cruise Line does not currently pay a regular dividend.
Are Norwegian Cruise Line and Travel Leisure in the same industry?
Both are in the Consumer Discretionary sector, but in different industries: Marine Transportation for Norwegian Cruise Line and Hotels/Resorts for Travel Leisure.