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). Check NCLH intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
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. For the full cash flow conversion analysis, see cash efficiency ratio of Norwegian Cruise Line Holdings Ltd.
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. See NCLH FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
| 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 | — |