Norwegian Cruise Line Holdings Ltd (NCLH) — Capital Reinvestment Ratio
Norwegian Cruise Line Holdings Ltd (NCLH) has a Capital Reinvestment Ratio of 1.77x as of March 2026, meaning it reinvests 2% of its operating cash flow ($811.45 Million) in capital expenditures ($1.44 Billion). See cash generation quality of Norwegian Cruise Line Holdings Ltd to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Norwegian Cruise Line Holdings Ltd Capital Reinvestment Ratio (2004–2025)
This chart tracks Norwegian Cruise Line Holdings Ltd's Capital Reinvestment Ratio across 19 annual periods.
Annual Capital Reinvestment Ratio for Norwegian Cruise Line Holdings Ltd (2004–2025)
Year-by-year Capital Reinvestment Ratio for Norwegian Cruise Line Holdings Ltd from 2004 to 2025. For live market cap and broader valuation context, see market value of Norwegian Cruise Line Holdings Ltd.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.56x | $2.09 Billion | $3.26 Billion | ▲ +164.0% |
| 2024 | 0.59x | $2.05 Billion | $1.21 Billion | ▼ -56.9% |
| 2023 | 1.37x | $2.01 Billion | $2.75 Billion | ▼ -83.9% |
| 2022 | 8.49x | $210.02 Million | $1.78 Billion | ▲ +845.6% |
| 2019 | 0.90x | $1.82 Billion | $1.64 Billion | ▲ +19.0% |
| 2018 | 0.76x | $2.08 Billion | $1.57 Billion | ▼ -12.7% |
| 2017 | 0.87x | $1.59 Billion | $1.37 Billion | ▼ -1.8% |
| 2016 | 0.88x | $1.24 Billion | $1.09 Billion | ▼ -18.3% |
| 2015 | 1.08x | $1.04 Billion | $1.13 Billion | ▼ -34.9% |
| 2014 | 1.66x | $635.60 Million | $1.05 Billion | ▼ -12.1% |
| 2013 | 1.88x | $475.28 Million | $894.85 Million | ▲ +147.0% |
| 2012 | 0.76x | $398.59 Million | $303.84 Million | ▲ +47.3% |
| 2011 | 0.52x | $356.99 Million | $184.80 Million | ▼ -77.8% |
| 2010 | 2.33x | $418.95 Million | $977.47 Million | ▼ -26.9% |
| 2009 | 3.19x | $50.73 Million | $161.84 Million | ▼ -80.1% |
| 2007 | 16.04x | $36.33 Million | $582.84 Million | ▲ +192.4% |
| 2006 | 5.49x | $147.50 Million | $809.40 Million | ▲ +12.6% |
| 2005 | 4.88x | $134.69 Million | $656.66 Million | ▼ -3.7% |
| 2004 | 5.06x | $146.33 Million | $740.84 Million | — |