FINHUB Insights

NCLH · Q4 FY25 · Oct 1 – Dec 31, 2025

Norwegian Cruise Line Q4 FY25: where the revenue came from and where it went

Norwegian Cruise Line Q4 FY25: revenue $2.2B (+6% year over year). Net profit $0B. Largest cohort Passenger $1.5B. The whole income statement as a sankey diagram from the SEC filing.

Period
Oct 1 – Dec 31, 2025
Reported
Mar 2, 2026 10-K
Sankey diagram of Norwegian Cruise Line's income statement for Q4 FY25: revenue of $2.2 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$2.2B +6% year over year
Gross profit$0.9B 41% margin
Operating profit$0.2B 8% margin
Net profit$0B 1% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
ItemValueShare of revenueYear over year
Revenue 2.2 100% +6%
Passenger 1.5 68% +7%
Onboard and Other 0.7 32% +5%
Cost of revenue−1.359%
Gross profit0.941% margin+3pp
SG&A−0.317%+0pp
Other−0.416%+0pp
Operating profit0.28% margin−2pp
Interest & other costs−0.2
Net profit01%−11pp
Filing on EDGAR More quarters of NCLH

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.

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