Norwegian Cruise Line Holdings (NCLH) FY2015 results: revenue $4.3 billion, up 39.0% on the year
Norwegian Cruise Line Holdings Ltd. (NCLH) reported revenue of $4.3 billion for fiscal 2015, the year ended 31 December 2015, up 39.0% on the year before. Net income was $427 million, up 26.2%, and diluted earnings per share $1.86. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$4.3 billion
+39.0% on the year
FY2011FY2015
Operating margin
16.2%
16.1% a year earlier
FY2011FY2015
Net income
$427 million
+26.2% on the year
FY2011FY2015
Diluted EPS
$1.86
+14.8% on the year
FY2011FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,345
3,126
2,570
+39.0%
Cost of revenue
n/a
n/a
1,658
Gross profit
n/a
n/a
913
Gross margin
n/a
n/a
35.5%
Selling, general and administrative
555
403
301
+37.7%
Operating income
702
503
396
+39.7%
Operating margin
16.2%
16.1%
15.4%
Interest expense
222
152
283
+46.2%
Pre-tax income
434
340
115
+27.5%
Income tax
6.8
-2.3
11.8
Effective tax rate
1.6%
-0.7%
10.3%
Net income
427
338
102
+26.2%
Net margin
9.8%
10.8%
4.0%
Diluted EPS
$1.86
$1.62
$0.49
+14.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,042
636
475
+64.0%
Capital expenditure
1,122
965
877
+16.3%
Free cash flow
-79.8
-329
-402
Free cash flow margin
-1.8%
-10.5%
-15.6%
Cash from investing
-1,206
-1,797
-895
Cash from financing
196
1,189
431
-83.5%
Depreciation and amortisation
450
305
245
+47.7%
Share-based compensation
42.2
14.6
23.1
+188.8%
Buybacks
107
82.0
n/a
+30.8%
Diluted shares, weighted
230m
212m
209m
+8.5%
Shares outstanding at period end
228m
228m
205m
+0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
3,781
3,519
2,609
+7.4%
Non-controlling interest
n/a
n/a
22.4
Debt
6,398
6,080
3,128
+5.2%
Other liabilities
2,086
1,870
892
+11.6%
Total liabilities and equity
12,265
11,469
6,651
+6.9%
Fixed assets
9,459
8,624
5,648
+9.7%
Goodwill
1,389
1,389
404
0.0%
Intangible assets
818
818
n/a
0.0%
Cash and equivalents
116
84.8
56.5
+36.7%
Receivables
45.0
32.4
18.3
+38.7%
Inventory
58.2
56.6
43.7
+2.9%
Other assets
380
465
481
-18.2%
Total assets
12,265
11,469
6,651
+6.9%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.