Norwegian Cruise Line Holdings Ltd (NCLH) — Tangible Net Worth Ratio
Norwegian Cruise Line Holdings Ltd (NCLH) has a Tangible Net Worth Ratio of 79.4% as of March 2026. This metric is calculated by deducting intangible assets ($500.52 Million) from net assets ($2.43 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See NCLH working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Norwegian Cruise Line Holdings Ltd Tangible Net Worth Ratio (2004–2025)
This chart shows how Norwegian Cruise Line Holdings Ltd's Tangible Net Worth Ratio has changed across 22 annual periods from 2004 to 2025. As of March 2026, the ratio stands at 79.4%, reflecting net assets of $2.43 Billion with intangible assets of $500.52 Million USD. See how many days can Norwegian Cruise Line Holdings Ltd fund operations to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Norwegian Cruise Line Holdings Ltd (2004–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Norwegian Cruise Line Holdings Ltd from 2004 to 2025, covering 22 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see NCLH company net worth.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 77.4% | $2.21 Billion | $500.52 Million | $22.54 Billion | ▲ +12.5 pp |
| 2024 | 64.9% | $1.43 Billion | $500.52 Million | $19.97 Billion | ▲ +131.3 pp |
| 2023 | -66.4% | $300.81 Million | $500.52 Million | $19.49 Billion | ▲ +563.3 pp |
| 2022 | -629.7% | $68.59 Million | $500.52 Million | $18.56 Billion | ▼ -709.1 pp |
| 2021 | 79.4% | $2.43 Billion | $500.52 Million | $18.73 Billion | ▼ -9.1 pp |
| 2020 | 88.5% | $4.35 Billion | $500.52 Million | $18.40 Billion | ▲ +1.2 pp |
| 2019 | 87.3% | $6.52 Billion | $827.77 Million | $16.68 Billion | ▲ +1.5 pp |
| 2018 | 85.8% | $5.96 Billion | $846.26 Million | $15.21 Billion | ▲ +1.0 pp |
| 2017 | 84.8% | $5.75 Billion | $872.43 Million | $14.09 Billion | ▲ +4.8 pp |
| 2016 | 80.0% | $4.54 Billion | $908.09 Million | $12.97 Billion | ▲ +4.6 pp |
| 2015 | 75.4% | $3.78 Billion | $929.59 Million | $12.26 Billion | ▲ +3.8 pp |
| 2014 | 71.6% | $3.52 Billion | $999.42 Million | $11.58 Billion | ▼ -20.5 pp |
| 2013 | 92.1% | $2.63 Billion | $207.53 Million | $6.65 Billion | ▲ +22.4 pp |
| 2012 | 69.7% | $2.02 Billion | $611.33 Million | $5.94 Billion | ▲ +2.4 pp |
| 2011 | 67.3% | $1.84 Billion | $602.79 Million | $5.56 Billion | ▲ +2.1 pp |
| 2010 | 65.2% | $1.73 Billion | $602.79 Million | $5.56 Billion | ▼ -34.3 pp |
| 2009 | 99.5% | $1.70 Billion | $7.87 Million | $4.81 Billion | ▼ -0.1 pp |
| 2008 | 99.6% | $1.55 Billion | $6.05 Million | $5.05 Billion | ▲ +16.0 pp |
| 2007 | 83.6% | $1.24 Billion | $202.54 Million | $5.03 Billion | ▼ -2.5 pp |
| 2006 | 86.1% | $1.46 Billion | $202.54 Million | $4.63 Billion | ▲ +1.7 pp |
| 2005 | 84.4% | $1.40 Billion | $218.54 Million | $4.01 Billion | ▲ +0.3 pp |
| 2004 | 84.1% | $1.37 Billion | $218.54 Million | $3.48 Billion | — |