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Intrinsic value of Norwegian Cruise Line Holdings Ltd. (NCLH)

Previous Close$15.30
Intrinsic Value
Upside potential
Previous Close
$15.30

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
6,379

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %-49.4NaN
Revenue, $648NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m3200NaN
Operating income, $m-2552NaN
EBITDA, $m-1798NaN
Interest expense (income), $mNaN
Earnings before tax, $m-4502NaN
Tax expense, $m5NaN
Net income, $m-4507NaN

BALANCE SHEET

Cash and short-term investments, $m1747NaN
Total assets, $m18730NaN
Adjusted assets (=assets-cash), $m16983NaN
Average production assets, $m14571NaN
Working capital, $m-544NaN
Total debt, $m13151NaN
Total liabilities, $m16297NaN
Total equity, $m2433NaN
Debt-to-equity ratio5.405NaN
Adjusted equity ratio0.094NaN

CASH FLOW

Net income, $m-4507NaN
Depreciation, amort., depletion, $m754NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m-2468NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-753NaN
Free cash flow, $m-1715NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-544
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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