Flagship explainer

How Norwegian Cruise Line Holdings Ltd. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$9.8B · 100%Cost of revenue$5.6B · 57%Gross profit$4.2B · 43%Operating income$1.6B · 16%Income before tax$429M · 4%Income tax$5.5M · 0%Net income$423M · 4%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$9.8B100%
Cost of revenue$5.6B57%
$4.2B43%
$1.6B16%
Income before tax$429M4%
Income tax$5.5M0%
$423M4%
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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