InsiderStreet Equity Research

Produced by InsiderStreet.ai from live production data. It is not investment advice, not an offer or solicitation to buy or sell any security, and not a recommendation for any investor. Do not rely on it for any investment decision.

Last Close

$15.05

2026-10-16

Market Cap

$6.9B

Volume

18.4M

52-Wk High

$25.13

52-Wk Low

$13.63

Trailing PE

9.0

P/S

0.68

Gross Margin

42.5%

Net Margin

7.5%

ROE

32%

ROIC

8%

Piotroski

5/9

Altman Z

0.3

1-Yr Return

-34.2%

5-Yr Return

-70.5%

Norwegian Cruise Line Holdings Ltd. (NCLH), along with its subsidiary companies, operates as a major global cruise enterprise. Its operations span North America, Europe, the Asia-Pacific region, and other international markets. The company manages a portfolio of three distinct cruise brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. NCLH offers an extensive range of voyages, from brief three-day excursions to lengthy 180-day expeditions. These itineraries explore a comprehensive list of destinations worldwide, including Scandinavia, Russia, the Mediterranean, and the Greek Isles; the Alaskan wilderness, Canada and New England; Hawaii, Asia, Tahiti, and the South Pacific; Australia and New Zealand; Africa, India, and South America; as well as the Panama Canal and the Caribbean. As of December 31, 2021, the company commanded a fleet of 28 ships, providing approximately 59,150 berths for guests. Its travel products are distributed through multiple channels, including independent retail/travel advisors, direct sales onboard its ships, and specialized services for meetings, incentives, and private charters. Founded in 1966, Norwegian Cruise Line Holdings Ltd. maintains its corporate headquarters in Miami, Florida.

SectorConsumer CyclicalIndustryTravel ServicesExchangeNYSEMarket Cap$6.9BEmployees5,300 (SEC-filed)CEOJohn W. ChidseyIPO2013-01-18CountryUS

7665 Corporate Center Drive, Miami, FL 33126 · Tel 305 436 4000 · nclhltd.com

INSIDERSTREET SCORE38 / 100Street mean $21.50 (8 analysts, last qtr) — their number, not ours

INSIDER CONSENSUS SIGNALNET BUYING$4.2M open-market purchases vs $0.0M sales / 6 mo

1 Year vs S&P 500 · NCLH -34.2% · S&P 500 +15.9% · spread -50.1pp

7 Years vs S&P 500 · NCLH -70.5% · S&P 500 +189.9% · spread -260.4pp

Both charts indexed to 100 at the start of their window and drawn on a single shared scale, so the gap to the benchmark is the gap you see. Adjusted closes throughout.

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INSIDERSTREET
SCORE38of 100

Score Breakdown

Profitability	50/100
Growth	51/100
Momentum	77/100
Quality	56/100
Earnings Quality	85/100
Balance Sheet	15/100
Value	61/100
Risk (safety)	15/100
Overall	37.8/100

Each component is a diagnostic reading on its own 0-100 scale. The overall score is computed separately from the underlying financials and is not the average of the rows above — components are not equally weighted and three of them (Momentum, Value, Risk) are derived partly from price rather than from the business.

Peer Comparison — IS Score

Symbol	IS Score
GBTG	43
MMYT	31
TNL	51
LIND	28
SABRP	29
PRSU	48
NCLH	38

IS Score Trend — quarterly

14 quarters, 23 Q1 to 26 Q2. Peak 48 in 24 Q4, latest 38 — -10 since. Fell in 2 of the last 4 quarters. Dashed line marks 40 on the 0-100 scale.

BUSINESS QUALITY38 / 100IS Score 37.8 / 100 · -9.9 from peak of 48

Fundamental factor model, quarterly. Measures how the business is doing - not where the price is going.

PRICE STRUCTURENEUTRALTechnical Score 50 / 100 · Power -1 · 10 of 22 indicator votes bullish

Vote share across trend, momentum, volume, volatility and pattern families. Describes where the price is, not where it is going.

These two disagree — business quality 38, price structure 50 out of 100, so the price reads better than the business does. We publish the disagreement rather than resolving it: they answer different questions, and the gap between them is information, not an error.

Trigger	Where it stands now	What it would mean
IS Score reaches 55 and holds two consecutive quarters	now 37.8	would move us up one band
IS Score stops falling - one quarter higher than the prior	last four: 38 → 23 → 29 → 38	the direction matters more than the level
Technical vote share back above 50%	now 55%	price structure no longer broken
Institutional holder count rises two quarters running	peak 675 → now 639	fewer institutions willing to hold is our clearest warning

We publish these so the view can be shown to be wrong. If none of them move and our reading does, we owe you an explanation.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

This page is InsiderStreet's own reading, produced from the data in the rest of this document. It is not a price target and not investment advice. Analyst consensus and street price targets appear later under their own heading and are the street's numbers, not ours.

Site Convergence Score3 of 4top 4% of 29,420 symbols

Sources Aligned— of 3independent disclosures

Congress (180d)0 buysnone disclosed

Insider Buys (180d)8$4.17M

ETF Funds (30d)293 up / 184 downnet +109 funds

Institutions Added (13F)0managers opening or increasing

Congressional and insider figures are disclosed purchases in the trailing 180 days; ETF figures are COUNTS OF FUNDS whose holding changed in 30 days, not dollars. Coincidence of separate disclosures, not coordination. An absent source means nothing qualifying was disclosed in its window.

Institutions holding — 12 quarters

Peak 675 · latest 639 (-36 from peak).

Quarter	Holders	13F shares	Value	Reported own%	Guard
2026 Q2	639	474.7M	$9.8B	103.4%	ex-outlier 96.9%
2026 Q1	639	440.1M	$7.9B	95.9%
2025 Q4	645	387.7M	$9.3B	84.4%
2025 Q3	645	373.7M	$9.7B	81.4%
2025 Q2	620	354.8M	$7.1B	77.3%
2025 Q1	640	353.8M	$6.6B	77.1%
2024 Q4	675	349.7M	$13.4B	76.2%
2024 Q3	570	324.3M	$6.3B	70.6%
2024 Q2	553	292.0M	$4.9B	63.6%
2024 Q1	527	308.9M	$6.0B	67.3%
2023 Q4	518	295.4M	$6.0B	64.3%
2023 Q3	512	282.7M	$4.5B	61.6%

How to read ownership above 100%. A 13F reports the positions a manager has investment discretion over, and where two or more managers share discretion over the same block, each one reports it. Summed across filers, the total can therefore exceed the shares actually outstanding without anything being wrong. We publish the figure as filed rather than netting it down, and flag separately any quarter where the arithmetic is not merely high but impossible.

Why 2026-06 reads 103.38%. Institutions cannot hold more of a company than exists. The reported 474.7M shares exceed the 459.1M outstanding, and a single filer accounts for the excess: VANGUARD CAPITAL MANAGEMENT LLC reports 29,972,580 shares against 29,617,015 the prior quarter, a 1x jump, which alone would be 6.5% of the company. Excluding that filing, ownership is 96.9%. We publish both figures. 13F filings are due 45 days after quarter end and amendments keep arriving after that, so the newest quarter is provisional by construction - this is what an unsettled quarter looks like.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Insider	Role	Date	Type	Shares	Value	Post-Txn Owned
Chidsey John	director, President and CEO	2026-05-22	BUY	153,000	$2.50M	1,139,940
Cohen Jonathan Z	director	2026-05-20	BUY	30,000	$0.47M	38,912
Cil Jose E.	director	2026-05-19	BUY	10,000	$0.15M	74,295
Cil Jose E.	director	2026-05-18	BUY	5,000	$0.08M	64,295
Macdonald Brian P	director	2026-05-11	BUY	15,000	$0.25M	23,912
Lansberry Kevin Allen	director	2026-05-07	BUY	11,400	$0.20M	20,312
Byng-Thorne Zillah	director	2026-05-07	BUY	25,015	$0.44M	99,811
Byng-Thorne Zillah	director	2026-05-07	BUY	4,452	$0.08M	25,742

6-mo decomposition (Form 4)	Txns	Shares	Value	Signal weight
P — Open-market purchases	8	253,867	$4.2M	Counted
F — Tax withholding	16	198,964	$4.9M	None — compensation

Monthly Net Insider Flow (000 shares)

Net of acquisitions minus dispositions, all Form 4 types.

Signal Summary

SignalNet Buying

Open-Market Sells$0.0M0 txns / 6 mo

Open-Market Buys$4.2M8 txns / 6 mo

ClusterNone active3+ insiders / 21 days

Filed	Filer	Shares registered	Est. proceeds
2025-12-12	Faye Ashby	5,250	$0.1M
2024-11-08	Faye Ashby	38,344	$1.0M
2024-11-06	Andrea Sieger	29,000	$0.8M
2024-11-06	Mark Kempa	15,000	$0.4M
Trailing 12 mo	1 filings	5,250	$0M

Filed	Form	Reporting person	% of class	Shares
2026-08-12	SCHEDULE 13G/A	Capital International Investors	3.10%	14.1M sh
2026-04-29	SCHEDULE 13G	Vanguard Capital Management	7.37%	33.6M sh
2026-03-27	SCHEDULE 13G/A	The Vanguard Group	—	exit/reporting change
2025-11-13	SCHEDULE 13G/A	Capital International Investors	11.60%	52.7M sh

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Member	Chamber	Trade	Size band	Traded	Disclosed
Ro Khanna	House	SELL	$1,001 - $15,000	2026-01-29	2026-02-10
Lisa C. McClain	House	SELL	$1,001 - $15,000	2025-10-31	2025-11-24
Lisa C. McClain	House	BUY	$1,001 - $15,000	2025-10-30	2025-11-24
Ashley Moody	Senate	SELL	$1,001 - $15,000	2025-02-24	2025-03-23
Ashley Moody	Senate	SELL	$1,001 - $15,000	2025-02-24	2025-03-23
Ashley Brooke Moody	Senate	SELL	$1,001 - $15,000	2025-02-24	2025-03-23

House 12-Mo5 trades1 purchases

Senate 12-Mo0 tradesNone purchases

CoverageSTOCK Act filings30-45 day disclosure lag

13F Filers (last complete Q)639

13F Shares440M95.9% of shares out

New / Closed105 / 98positions, QoQ

Increased / Reduced207 / 179positions, QoQ

Put/Call (13F)0.92option positions

Free Float99.2%455M sh

2.8 · Largest Reporting 13F Managers

Manager	Shares	Value
Czech National Bank	131,936	$2M
M.E. Allison & Co., Inc.	117,310	$2M
Fny Investment Advisers, Llc	93,500	$1M
Wealth Enhancement Advisory Servic	60,704	$1M
Vontobel Holding Ltd.	53,636	$1M
State Of Alaska, Department Of Rev	43,500	$1M

EDGAR 13F holdings as of 2026-09-30; filer values normalized to dollars.

2.9 · Top ETF & Fund Ownership

Fund	Weight	Position
VITSX	0.0%	$214M
VSMPX	0.0%	$214M
VTSAX	0.0%	$214M
VTI	0.0%	$214M
RSP	0.2%	$198M
VFINX	0.0%	$177M

13F Filers Holding NCLH — quarterly

Institutional Put/Call — quarterly

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Daily short-sale volume as % of volume reported in FINRA's short-sale file — a flow measure, not short interest; dashed = 50-day average.

Latest Session48.6%2026-10-15

20-Day Avg55.4%50-day 54.9%

TrendRising20d vs 50d

By Market CenterQ: 49% · N: 33% · B: 27%latest session

Weekly Notional ($B)

Where NCLH Trades in the Dark

ATS Venue (4-wk)	Shares	Avg trade
Incr Intelligent Cross Llc	16.8M	117 sh
Ubsa Ubs Ats	12.9M	102 sh
Mstx Ms Trajectory Cross (Ats-1)	11.2M	169 sh
Bids Bids Ats	10.8M	885 sh
Ebxl Level Ats	8.4M	66 sh
Sgmt Sigma X2	7.2M	107 sh

Where a dollar of Norwegian Cruise Line Holdings Ltd. revenue goes. All values FY2025 filings, live.

Region	Revenue	Share
North America	$5.6B	57%
Europe	$2.9B	29%
Asia Pacific	$997M	10%
Other Country	$283M	3%

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

NCLH (live moat model)Peer median: GBTG · MMYT · TNL · LIND · SABRP

Component scores from the live moat model. Peer median illustrative.

Moat score 37/100 — None; primary source Efficient Scale.

3.8 · Employees (SEC filings)

Officer	Title
Captain Patrik Dahlgren	Executive Vice President & Chief Vessel Operations and Newbuild Officer
Mark A. Kempa	Executive Vice President & Chief Financial Officer
Jason Montague	Chief Luxury Officer
Daniel S. Farkas	Executive Vice President, General Counsel, Chief Development Officer & Secretary

Revenue ($B)

EPS ($) — GAAP diluted actual, street-basis estimate

Actual bars are GAAP diluted EPS from the filed income statement; the lighter forward bars are street-basis consensus. The two are different measures and are not comparable quarter to quarter.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Quarterly EPS — Actual vs. Consensus

Beats (>2%)4 of 6recent quarters

Avg Surprise+9.2%

Next Report2026-10-29

Income Quality2.82OCF ÷ net income

Beat Rate—%0 of 0 quarters

Current Streak0longest 0

Avg EPS Surprise—%median —%

Surprise Trend—last 4 vs prior 4

Period	EPS est.	EPS actual	EPS surprise	Rev est. ($M)	Rev actual ($M)	Rev surprise

Announcement dates to . Consensus as it stood at each report. Revenue surprise shown where both estimate and actual are filed. A beat record is history, not a forecast.

Profit Margins (%)

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Revenue by Segment — Stacked

Live segmentation data.

YoY Growth Heatmap — Income Lines

YoY growth	FY21	FY22	FY23	FY24	FY25
Revenue	-49.4%	+647.5%	+76.5%	+10.9%	+3.7%
Gross profit	+132.4%	-160.1%	+434.3%	+23.0%	-17.1%
Operating income	-26.7%	-39.2%	-160.0%	+57.5%	+8.7%
Net income	+12.3%	-49.6%	-107.3%	+447.8%	-53.5%

$B · FY ends	FY21	FY22	FY23	FY24	FY25
Revenue	0.6	4.8	8.5	9.5	9.8
Cost of revenue	1.6	4.3	5.5	5.7	6.7
Gross profit	-1.0	0.6	3.1	3.8	3.1
R&D expense	0.0	0.0	0.0	0.0	0.0
SG&A expense	0.9	1.4	1.3	1.4	1.5
Operating income	-2.6	-1.6	0.9	1.5	1.6
EBITDA	-1.7	-0.7	1.8	2.5	2.7
D&A	0.8	0.8	0.9	1.0	1.1
Pretax income	-4.5	-2.3	0.2	0.8	0.4
Income tax	0.0	-0.0	-0.0	-0.1	0.0
Net income	-4.5	-2.3	0.2	0.9	0.4
Diluted EPS ($)	-12.33	-5.41	0.39	1.89	0.90
Diluted shares (M)	365	420	427	515	460

Operating CF$2B

CapEx$3B

Free cash flow$-1B

SBC$0B

Buybacks$0B

Net cash change$0B

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Shown instead of the usual cash-distribution diagram because operating cash flow was not positive this year — there was no internally generated cash to distribute, so the decision-relevant question is what funded the spending. Sources left, uses right; cash is fungible and the statement does not trace which rupee of borrowing bought which asset, so the band is proportional, not a claim about specific flows. Any residual from FX translation is carried explicitly as Other / FX.

Balance Sheet — Full

$B	FY22	FY23	FY24	FY25
Cash & equivalents	0.9	0.4	0.2	0.2
ST investments	0.0	0.0	0.0	0.0
Receivables (net)	0.3	0.3	0.2	0.3
Total current assets	1.9	1.3	1.0	1.1
PP&E (net)	14.5	16.4	16.8	19.1
Goodwill + intangibles	0.6	0.6	0.6	0.1
Total assets	18.6	19.5	20.0	22.5
Accounts payable	0.2	0.2	0.2	0.2
Short-term debt	1.0	1.7	1.3	0.9
Deferred revenue	2.5	3.1	3.1	0.0
Total current liabilities	5.1	6.0	5.8	5.5
Long-term debt	12.6	12.3	11.8	13.7
Total liabilities	18.5	19.2	18.5	20.3
Shareholders' equity	0.1	0.3	1.4	2.2

Cash Flow Statement — Full

$B	FY22	FY23	FY24	FY25
Net income	(2.3)	0.2	0.9	0.4
D&A	0.8	0.9	1.0	1.2
Stock-based compensation	0.1	0.1	0.1	0.1
Working capital change	1.4	0.8	0.2	0.0
Operating cash flow	0.2	2.0	2.0	2.1
Capital expenditures	(1.8)	(2.8)	(1.2)	(3.3)
Investing cash flow	(1.8)	(2.9)	(1.2)	(3.3)
Buybacks	(0.0)	(0.0)	(0.0)	(0.0)
Dividends paid	0.0	0.0	0.0	0.0
Debt issuance / (repay)	1.2	0.6	(0.9)	1.3
Financing cash flow	1.0	0.3	(1.0)	1.2
Free cash flow	(1.6)	(0.7)	0.8	(1.2)

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Balance Sheet Structure ($B)

Cash Generation vs Capex ($B)

Left: what the balance sheet is made of — the gap between the assets bar and the liabilities bar is book equity. Right: whether the capex bar is covered by the operating-cash bar; where it is not, the difference was funded externally and free cash flow goes negative.

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
PROFITABILITY
ROE	-132.8%	-181.5%	90.0%	105.5%	23.3%	32%
ROA	-24.3%	-12.2%	0.9%	4.6%	2.0%	3.2%
ROIC	-15.4%	-9.6%	6.8%	11.4%	9.3%	8.0%
Gross margin	-148.2%	11.9%	36.0%	40.0%	32.0%	42.5%
Operating margin	-393.9%	-32.0%	10.9%	15.5%	16.2%	15.1%
Net margin	-695.5%	-46.9%	1.9%	9.6%	4.3%	7.5%
EBITDA margin	-257.7%	-13.7%	20.7%	26.3%	27.9%	27.1%
FCF margin	-497.1%	-32.5%	-8.7%	8.8%	-11.9%	—
VALUATION
P/E	-1.80	-2.27	51.30	14.65	24.23	9.0
P/B	3.34	75.20	28.34	9.35	4.64	2.7
P/S	12.54	1.06	1.00	1.41	1.04	0.68
P/FCF	-2.52	-3.28	-11.45	15.89	-8.77	-6.0
EV/EBITDA	-11.27	-26.81	12.50	10.85	10.47	7.9
EV/Revenue	29.05	3.68	2.59	2.85	2.51	2.1
Earnings yield	-55.5%	-44.0%	1.9%	6.8%	4.1%	11.01%
FCF yield	-39.6%	-30.5%	-8.7%	6.3%	-11.4%	-16.67%

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
LEVERAGE & SOLVENCY
Current ratio	0.89	0.37	0.22	0.17	0.21	0.20
Quick ratio	0.85	0.34	0.19	0.15	0.18	0.17
Debt / equity	5.12	198.59	46.74	9.76	6.61	5.84
Debt / assets	66.5%	73.4%	72.1%	69.7%	64.8%	62.6%
Net debt / EBITDA	-6.41	-19.06	7.70	5.50	6.12	5.39
Interest coverage	-1.17	-1.84	1.22	2.03	1.48	—

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
EFFICIENCY
Asset turnover	0.03	0.26	0.45	0.48	0.46	0.42
Receivables turnover	1.09	6.49	28.19	37.79	38.31	36.7
DSO (days)	335	56	13	10	10	10
DPO (days)	36	20	13	11	11	15
Cash conversion cycle	321	48	10	8	8	5
GROWTH (YoY)
Revenue growth	-49.4%	647.5%	76.5%	10.9%	3.7%	—
Net income growth	-12.3%	49.6%	107.3%	447.8%	-53.5%	—
EPS growth	15.7%	53.2%	107.3%	349.8%	-47.6%	—
FCF growth	8.0%	51.1%	52.7%	212.7%	-239.5%	—
PER SHARE ($)
EPS (diluted, TTM)	-11.50	-5.39	0.39	1.76	0.92	1.66
Book value / share	6.21	0.16	0.71	2.75	4.81	5.60
Revenue / share	1.65	11.49	20.10	18.30	21.39	22.12
FCF / share	-8.22	-3.73	-1.75	1.62	-2.55	-2.51
Cash / share	4.46	2.25	0.95	0.37	0.46	0.48
SHAREHOLDER RETURN & SCORES
Buyback yield	0.2%	0.4%	0.3%	0.2%	0.2%	0.00%
Altman Z-Score	-0.48	-0.57	0.07	0.45	0.36	0.3
Piotroski F-Score	2	5	7	7	7	5/9
Beneish M-Score	64.42	-3.69	-3.20	-2.91	-2.57	-2.67

Model	Score	Zone	Note
Piotroski F-Score	5 / 9	Middling
Altman Z-Score	0.3	Distress (<1.81)	Distress
Income quality	2.82	Cash-backed	OCF ÷ net income
Beneish M-Score	-2.67	Non-manipulator	vs −2.22 threshold

DuPont Decomposition (TTM)	Value
Tax burden	0.98
Interest burden	0.51
Operating margin	15.0%
Asset turnover	0.45×
Financial leverage	11.01×
= ROE	37%

Growth Quality (live)	Value
Revenue stability	0.87
Earnings stability	0.83
Earnings persistence	0.98
Revenue CAGR 3y	12.3%
EPS CAGR 3y	—
FCF CAGR 3y	—

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Buyback Yield0.00%

Dividend Yield0.00%none paid

Total Shareholder Return-0.83%cash yield

SBC / Revenue0.9%dilution pressure

Company	Mkt cap	P/E	ROE	Net margin	Rev growth	Piotroski	1-yr ret
GBTG	$5.0B	59.4	6%	1.7%	+30.2%	6/9	+16.1%
MMYT	$4.4B	132.0	-24%	2.9%	+6.9%	6/9	-47.2%
TNL	$4.0B	17.3	-25%	10.3%	+4.5%	6/9	+8.6%
LIND	$2.3B	-93.2	8%	-0.7%	+18.3%	5/9	+191.3%
SABRP	$23.6B	19.4	-38%	1.1%	-4.1%	5/9	—
PRSU	$1.5B	37.9	7%	11.4%	+182.3%	6/9	—
EXPE	$33.1B	17.3	199%	20.3%	+12.0%	9/9	—
CCL	$34.8B	11.2	24%	22.8%	+5.2%	7/9	—

1-yr returns computed from adjusted price history; peers without a tracked series show —.

Buy

37 Analysts

Str Sell (0)Sell (1)Hold (17)Buy (18)Str Buy (1)

Mean Target (qtr)$21.508 targets

Target vs. Price+42.9%last-quarter mean

Next Report2026-10-29street $0.93

Consensus estimates	Revenue mean	High / Low	EPS mean	High / Low	# EPS est.
FY2026	$10.06B	$10.28B / $9.97B	$1.55	$1.71 / $1.42	13
FY2027	$10.54B	$11.04B / $10.21B	$1.53	$2.01 / $1.01	14
FY2028	$11.19B	$11.65B / $10.83B	$1.76	$1.90 / $1.62	3

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Street Price Target — Trajectory

Window	Avg Target	vs. Price	# Targets
Last Month	$16.00	+6.3%	1
Last Quarter	$21.50	+42.9%	8
Last Year	$22.71	+50.9%	41
All Time	$23.52	+56.3%	84

Rolling mean of published targets vs. last close $15.05. Aggregated from StreetInsider, Benzinga, Pulse 2.0.

Third-Party Composite Rating

B+

DCF

4/5

ROE

5/5

ROA

3/5

Debt/Eq

1/5

P/E

4/5

P/B

2/5

Independent quant composite as of 2026-10-16; components scored 1–5 (5 best). Shown for contrast with the InsiderStreet Score — methodologies differ.

NCLH -34.2% vs S&P 500 +15.9% — spread -50.1pp

Sector — XLY -3.2%

Peer Set — indexed to 100

All series indexed to 100 at the start of the window, adjusted closes.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Candlesticks with SMA 20/50 overlay, Bollinger (20,2σ) band, volume, and Wilder RSI(14) — computed from live daily OHLCV.

Moving Average	Value	Distance	% Distance	Signal
SMA 20	$14.87	+0.18	+1.21%	Above
SMA 50	$15.87	-0.82	-5.17%	Below
SMA 200	$19.07	-4.02	-21.08%	Below
EMA 9	$15.16	-0.11	-0.73%	Below
EMA 21	$15.14	-0.09	-0.59%	Below
EMA 50	$15.89	-0.84	-5.29%	Below
EMA 200	$18.39	-3.34	-18.16%	Below

Series and readings from the nightly technical-indicator history — identical data to the site's ribbon chart. Supertrend segments colored by direction.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

TECHNICAL VERDICTNEUTRALPower Score -110 of 22 indicator votes bullish

Family Scores (site weights)

Trend 30%56

Momentum 25%30

Volume 20%56

Volatility 10%67

Patterns 15%50

This Week55% bullishof 11 price-based votes

4 Weeks Ago0%+55 pts since

12 Weeks Ago0%+55 pts since

ReadImprovingweek-over-week trajectory

Price vs SMA 20$14.87

Price vs SMA 50$15.87

Price vs SMA 200$19.07

EMA 9/21 Cross15.2/15.1

SMA 50/200Death

ADX DirectionADX 16

Supertrend$16

Parabolic SAR$14

SMA Slope0.050

RSI47.4

Stochastic K/D58/64

StochRSI K/D66/73

Williams %R-50

CCI66

TSI vs Signal-5.2

CMO-5.3

ROC-0.66%

OBV SignalDistrib

Chaikin MF-0.070

MFI64

Force Index0M

Elder Ray Bull0.60

RSI (14)30 oversold · 70 overbought

Stochastic %Kvs %D 64

Money Flowvolume-weighted RSI

ADXtrend strength · <20 weak

Williams %Rinverted scale

Level	Value	Level	Value
Pivot / R1 / R2	$15.19 / $15.70 / $16.02	S1 / S2	$14.87 / $14.36
Bollinger (20,2)	$13.94 – $15.81	Squeeze	Off
52-wk range	$13.63 – $25.13	Off 52-wk high	-40.1%
ATR (14)	$0.61 (4.1%)	Historical vol	37.0%

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

+2.4%Jan50%

+1.1%Feb57%

-6.4%Mar29%

+3.2%Apr46%

-0.1%May54%

-0.4%Jun38%

+1.1%Jul69%

+3.0%Aug77%

+1.1%Sep62%

+3.6%Oct54%

+3.7%Nov62%

+3.6%Dec62%

Sample: 14 years — treat short histories as suggestive, not statistical.

Computed from live weekly prices	NCLH	S&P 500
Weekly volatility (σ, 1y)	6.97%	1.83%
Best / worst week (1y)	+10.8% / -17.9%	—
Max drawdown (5y, monthly)	-85.0%	—
1-week VaR (95%)	-14.1%	—
Beta (5y)	1.88	1.00

NCLH EQUITY WEATHER (LIVE)RAINY · -34

Trend-38

Momentum+1

Volume-52

Volatility-60

Breadth-31

MARKET REGIME (2026-10-16)NEUTRAL

VIX19.99Normal

Dow TheoryConfirmed Bearish

SPY / QQQ TSI7.2 / 4.7trend strength

Sector Strength46/100breadth average

Average sentiment of 329 stories, weekly buckets, −1 to +1.

This space intentionally left blank — the next section begins on the following page

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Overall-33.6-8.8 vs industry

Trend-37.6-0.4 vs industry

Momentum+0.7+16.3 vs industry

Volume-52.0-25.2 vs industry

Reading	NCLH	Travel Services n=168	Consumer Cyclical n=5,686	All US symbols n=70,435
Overall	-33.6	-24.8	-20.5	-20.5
Trend	-37.6	-37.1	-25.1	-21.3
Momentum	+0.7	-15.5	-15.0	-15.8
Volume	-52.0	-26.8	-10.0	-3.8

Trend, momentum and volume are computed per company. Volatility and breadth are market-regime values shared by every symbol in the universe, so they are reported once under Market Regime rather than compared here - a company cannot differ from its sector on a constant.

Executive	Total comp	Structure
Harry Sommer Former President and Chief Exec	$13.8M	90% equity+incentive
David Herrera Former President, Norwegian Cr	$5.7M	52% equity+incentive
Patrik Dahlgren Executive Vice President,Chi	$4.4M	77% equity+incentive
Mark A. Kempa Executive Vice President and C	$4.4M	77% equity+incentive
Jason Montague Chief Luxury Officer	$4.4M	78% equity+incentive

Pillar (live disclosure scores)	Score
Environmental	53
Social	55
Governance	63
Composite ESG	57

Composite ESG Trend

Filed	8-K contents	Items
2026-10-15	Material Agreement; Termination of Agreement; Financial Obligation; Ot	1.01,1.02,2.03,8.01,9.01
2026-09-30	Regulation FD	7.01
2026-08-12	Shareholder Vote	5.07
2026-07-30	Earnings Release; Exhibits	2.02,9.01
2026-06-16	Officer/Director Change; Shareholder Vote; Exhibits	5.02,5.07,9.01
2026-05-29	Other Events	8.01
2026-05-04	Earnings Release; Exhibits	2.02,9.01
2026-03-27	Officer/Director Change; Exhibits	5.02,9.01

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Methodology. Every figure originates in InsiderStreet's production data layer and is computed deterministically by the same engines that power insiderstreet.ai. This factsheet contains no model-written text. Sections without underlying data are omitted rather than estimated.

DISCLOSURES. This document is produced by InsiderStreet.ai from live production data. It is not investment advice, not an offer or solicitation to buy or sell any security, and not a recommendation tailored to any person. Data is sourced as of the dates shown and may no longer be current. InsiderStreet.ai is not a registered investment adviser or broker-dealer. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Do not make any investment decision based on this document. © 2026 InsiderStreet.ai — all rights reserved. Redistribution prohibited.

Data domain	Source	Coverage for this report
Price & volume	market_db.historical_prices	52 rows
Fundamentals	income_statements_annual	6 rows · 2020 to 2025
Reported vs consensus	fact/earnings_calendar	24 rows · 2020-11-09 to 2026-07-30
Analyst estimates	dim/forward_estimates	3 rows · 2026-12-31 to 2028-12-31
Institutional ownership (13F)	holdings_db.institutional_ownership_summary	54 rows · 2013 to 2026
Insider transactions (Form 4)	edgar/form4	12 rows · 2026-04-13 to 2026-05-22
Proposed sales (Form 144)	edgar/form144	1 record
Beneficial ownership (13D/G)	edgar/13dg	4 rows · 2025-11-13 to 2026-08-12
Short-sale volume (FINRA)	edgar/short_volume_daily	60 rows · 2026-07-23 to 2026-10-15
Dark pool (ATS, tier 1)	edgar/darkpool_weekly	12 rows · 2026-06-15 to 2026-08-31
ETF & fund holding	etf_holdings_changelog (30d)	1 record
Peer set	stock_peers_dynamic	8 rows
Industry medians	industry_medians	1 record
Congressional trades	congress_db (House + Senate)	1 record
ESG	fact/esg_disclosures	1 record

Method. Every figure in this factsheet is looked up from a named field computed in code. It contains no model-written text.

Not covered. Short interest as a percent of float and days-to-cover are not in this data set — the short-sale figures above are FINRA volume, a flow, and cannot support squeeze or covering analysis. Options positioning and intraday data are also absent. 13F ownership is filed 45 days after quarter end and congressional trades are disclosed on a lag, so both describe a past position, not a current one.