NCLHNorwegian Cruise Line Holdings
Norwegian commenced operations from Miami, Florida in 1966, launching the modern cruise industry by offering weekly departures from Miami, Florida to destinations in the Caribbean. 10-K, Item 1
- Employees
- 5,300
- Headquarters
- Miami, FL
- CEO
- John Chidsey
- Next results
- around Feb 11, 2027
What changed
10-K filed Mar 2, 2026 against Feb 27, 2025| Area | What changed | Source |
|---|---|---|
| Risk factors | 11 new paragraphs, nothing like them in the previous 10-K | 10-K Item 1A |
| Receivables growing faster than revenue | Receivables +31.7% vs revenue +3.7% (+28.1 pts) | 10-K · XBRL |
| Going concern language | “In addition, we may conclude that there is a substantial doubt about our ability to operate as a going concern, which could have additional effects on our credit ratings and the availability and/or cost of financing.” | 10-K · XBRL |
| Accounting checks | 9 other checks clear, 2 worth a look | 10-K · XBRL |
| Insiders | No open-market buys in the last 90 days | Form 4 |
| Filings | 5 in the last 30 days | EDGAR |
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
What's new, in their words
10-K filed Mar 2, 2026Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-27. Quoted as filed.
If we raise additional funds by issuing debt, we may be subject to limitations on our operations due to restrictive covenants, which may be more restrictive than the covenants in our existing debt agreements, and we may be required to
10-K, Item 1A
Accounting checks
latest 10-K9 of 11 clear 2 worth a look. Checks, not verdicts.
- !Receivables growing faster than revenueReceivables +31.7% vs revenue +3.7% (+28.1 pts)
- !Going concern language“In addition, we may conclude that there is a substantial doubt about our ability to operate as a going concern, which could have additional effects on our credit ratings and the availability and/or cost of financing.”
- ✓Cash from operations $2.1B vs net income $423.2M (FY ending 2025-12-31)
- ✓Inventory -7.7% vs revenue +3.7% (-11.4 pts)
- ✓Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
- ✓No 8-K item 4.02 in the last 2 years
- ✓No NT 10-K or NT 10-Q in the last 2 years
- ✓The same matters as last year: Ship Accounting - Ship Improvements
- ✓No sentence in the 10-K concludes that controls were not effective because of a material weakness
- ✓No 8-K item 2.06 in the last 2 years
- ✓No 8-K item 1.03 in the last 2 years
In the last 30 days
All filings →- Oct 30, 20268-K Material agreement signed, New debt or obligation 8-K items 1.01, 2.03
- Oct 29, 2026Officer CFO change Meghan Montana entered into a new employment agreement with a subsidiary of the Company in connection with her appointment as Executive Vice President, Chief Financial Officer, effective January 1, 2027 (the “Montana Employment Agreement”).
- Oct 29, 20268-K Quarterly results 8-K item 2.02
- Oct 29, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
- Oct 15, 20268-K Material agreement signed, Material agreement ended, New debt or obligation, Other events 8-K items 1.01, 1.02, 2.03, 8.01
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