Norwegian Cruise Line Holdings (NCLH) FY2017 results: revenue $5.4 billion, up 10.7% on the year
Norwegian Cruise Line Holdings Ltd. (NCLH) reported revenue of $5.4 billion for fiscal 2017, the year ended 31 December 2017, up 10.7% on the year before. Net income was $760 million, up 20.0%, and diluted earnings per share $3.31. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$5.4 billion
+10.7% on the year
FY2011FY2017
Operating margin
19.4%
19.0% a year earlier
FY2011FY2017
Net income
$760 million
+20.0% on the year
FY2011FY2017
Diluted EPS
$3.31
+19.1% on the year
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,396
4,874
4,345
+10.7%
Selling, general and administrative
774
666
555
+16.2%
Operating income
1,049
925
702
+13.3%
Operating margin
19.4%
19.0%
16.2%
Interest expense
268
277
222
-3.3%
Pre-tax income
771
640
434
+20.4%
Income tax
10.7
7.2
6.8
+48.8%
Effective tax rate
1.4%
1.1%
1.6%
Net income
760
633
427
+20.0%
Net margin
14.1%
13.0%
9.8%
Diluted EPS
$3.31
$2.78
$1.86
+19.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,601
1,264
1,042
+26.7%
Capital expenditure
1,372
1,092
1,122
+25.7%
Free cash flow
229
172
-79.8
+33.2%
Free cash flow margin
4.2%
3.5%
-1.8%
Cash from investing
-1,405
-1,129
-1,206
Cash from financing
-149
-123
196
Depreciation and amortisation
521
446
450
+17.0%
Share-based compensation
87.0
66.4
42.2
+31.1%
Buybacks
n/a
50.0
107
Diluted shares, weighted
229m
228m
230m
+0.7%
Shares outstanding at period end
229m
227m
228m
+0.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,750
4,538
3,781
+26.7%
Debt
6,308
6,399
6,398
-1.4%
Other liabilities
2,037
2,037
2,086
-0.0%
Total liabilities and equity
14,095
12,974
12,265
+8.6%
Fixed assets
11,040
10,118
9,459
+9.1%
Goodwill
1,389
1,389
1,389
0.0%
Intangible assets
818
818
818
0.0%
Cash and equivalents
176
128
116
+37.3%
Receivables
44.0
63.2
45.0
-30.5%
Inventory
82.1
66.3
58.2
+23.9%
Other assets
546
392
380
+39.2%
Total assets
14,095
12,974
12,265
+8.6%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.