Norwegian Cruise Line Holdings Ltd (NCLH)

Operating profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	930,911	525,612	-182,936	-852,283	-1,551,757	-1,957,660	-2,461,536	-2,669,838	-2,552,348	-2,412,356	-2,241,033	-2,231,340	-3,484,134	-2,737,878	-1,708,371	-804,279	1,178,077	1,188,281	1,226,833	1,210,304
Revenue (ttm)	US$ in thousands	7,787,490	7,249,679	6,348,249	5,189,539	3,722,459	3,465,267	1,973,871	959,849	636,309	158,451	23,565	25,926	1,289,606	2,760,647	4,678,029	6,332,440	6,465,390	6,365,960	6,300,220	6,173,950
Operating profit margin		11.95%	7.25%	-2.88%	-16.42%	-41.69%	-56.49%	-124.71%	-278.15%	-401.12%	-1,522.46%	-9,510.01%	-8,606.57%	-270.17%	-99.18%	-36.52%	-12.70%	18.22%	18.67%	19.47%	19.60%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $930,911K ÷ $7,787,490K
= 11.95%

Norwegian Cruise Line Holdings Ltd's operating profit margin has shown fluctuations over the past eight quarters, with Q4 2023 demonstrating a relatively strong operating profit margin of 10.89%. This indicates that the company was able to generate profits from its core operations, after accounting for variable and fixed costs. In the preceding quarters, the operating profit margin trended downwards from Q3 2023 to Q1 2023, reaching a low of -13.87%, indicating that the company's profitability was impacted by increasing costs or declining revenues during this period.

Comparing the current operating profit margin to the same quarter in the previous year, Q4 2022, there has been a significant improvement, as the company managed to reverse a substantial negative margin of -32.04% to a positive margin in Q4 2023. This improvement may reflect better cost management, revenue growth, or operational efficiencies implemented by the company.

However, it is worth noting that the operating profit margin had experienced significant challenges in the earlier quarters of 2022, notably in Q2 and Q1, where the margins were deeply negative, indicating operational difficulties or financial distress during that period.

Overall, while the recent operating profit margin of 10.89% in Q4 2023 shows a positive trend for Norwegian Cruise Line Holdings Ltd, investors and analysts should continue to monitor the company's performance closely to assess its ability to maintain and improve profitability in the future.