Norwegian Cruise Line Holdings Ltd (NCLH) — Cash Flow-to-Debt Ratio
Norwegian Cruise Line Holdings Ltd (NCLH) has a Cash Flow-to-Debt Ratio of 0.04x as of March 2026, meaning its operating cash flow of $811.45 Million could theoretically repay 0% of its total liabilities ($21.36 Billion) in one year. See NCLH free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Norwegian Cruise Line Holdings Ltd Cash Flow-to-Debt Ratio (2004–2025)
Historical debt coverage capacity for Norwegian Cruise Line Holdings Ltd across 22 annual periods. For the full cash flow conversion analysis, see Norwegian Cruise Line Holdings Ltd (NCLH) cash conversion ratio.
Annual Cash Flow-to-Debt Ratio for Norwegian Cruise Line Holdings Ltd (2004–2025)
Year-by-year debt coverage analysis for Norwegian Cruise Line Holdings Ltd. Check earnings quality score of Norwegian Cruise Line Holdings Ltd to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (USD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.10x | $2.09 Billion | $20.33 Billion | ▼ -7.0% |
| 2024 | 0.11x | $2.05 Billion | $18.54 Billion | ▲ +5.8% |
| 2023 | 0.10x | $2.01 Billion | $19.19 Billion | ▲ +820.0% |
| 2022 | 0.01x | $210.02 Million | $18.49 Billion | ▲ +107.5% |
| 2021 | -0.15x | $-2.47 Billion | $16.30 Billion | ▲ +16.8% |
| 2020 | -0.18x | $-2.56 Billion | $14.05 Billion | ▼ -201.5% |
| 2019 | 0.18x | $1.82 Billion | $10.17 Billion | ▼ -20.2% |
| 2018 | 0.22x | $2.08 Billion | $9.24 Billion | ▲ +18.2% |
| 2017 | 0.19x | $1.59 Billion | $8.35 Billion | ▲ +29.3% |
| 2016 | 0.15x | $1.24 Billion | $8.44 Billion | ▲ +19.4% |
| 2015 | 0.12x | $1.04 Billion | $8.48 Billion | ▲ +56.1% |
| 2014 | 0.08x | $635.60 Million | $8.06 Billion | ▼ -33.3% |
| 2013 | 0.12x | $475.28 Million | $4.02 Billion | ▲ +16.3% |
| 2012 | 0.10x | $398.59 Million | $3.92 Billion | ▲ +5.9% |
| 2011 | 0.10x | $356.99 Million | $3.72 Billion | ▼ -12.2% |
| 2010 | 0.11x | $418.95 Million | $3.83 Billion | ▲ +569.6% |
| 2009 | 0.02x | $50.73 Million | $3.11 Billion | ▲ +345.1% |
| 2008 | -0.01x | $-23.30 Million | $3.50 Billion | ▼ -169.6% |
| 2007 | 0.01x | $36.33 Million | $3.80 Billion | ▼ -79.4% |
| 2006 | 0.05x | $147.50 Million | $3.17 Billion | ▼ -10.1% |
| 2005 | 0.05x | $134.69 Million | $2.60 Billion | ▼ -25.4% |
| 2004 | 0.07x | $146.33 Million | $2.11 Billion | — |