Norwegian Cruise Line Holdings Ltd.

NCLH: Is Norwegian Cruise Line Holdings Ltd. Halal?

Norwegian Cruise Line Holdings Ltd.

NYSEConsumer CyclicalUS

$15.43

-3.06%

Market Cap: 7.1B

Compliance Status

Not Halal

Screened on Sep 1, 2026 · AAOIFI Standard 21

F

Non-Compliant

0Score

Is Norwegian Cruise Line Holdings Ltd. (NCLH) halal? Not Halal. Based on AAOIFI screening, Norwegian Cruise Line Holdings Ltd. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Norwegian Cruise Line Holdings Ltd. (NCLH) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Sep 1, 2026. Source: https://halalscreener.app/en/stock/NCLH

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

187.5% of 30.0% limit

What this means for you

Most scholars advise not holding NCLH

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Norwegian Cruise Line Holdings Ltd.

Norwegian Cruise Line Holdings Ltd. (NCLH), along with its subsidiary companies, operates as a major global cruise enterprise. Its operations span North America, Europe, the Asia-Pacific region, and other international markets. The company manages a portfolio of three distinct cruise brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. NCLH offers an extensive range of voyages, from brief three-day excursions to lengthy 180-day expeditions. These itineraries explore a comprehensive list of destinations worldwide, including Scandinavia, Russia, the Mediterranean, and the Greek Isles; the Alaskan wilderness, Canada and New England; Hawaii, Asia, Tahiti, and the South Pacific; Australia and New Zealand; Africa, India, and South America; as well as the Panama Canal and the Caribbean. As of December 31, 2021, the company commanded a fleet of 28 ships, providing approximately 59,150 berths for guests. Its travel products are distributed through multiple channels, including independent retail/travel advisors, direct sales onboard its ships, and specialized services for meetings, incentives, and private charters. Founded in 1966, Norwegian Cruise Line Holdings Ltd. maintains its corporate headquarters in Miami, Florida.

Sector: Consumer Cyclical · Industry: Travel Services

Shariah Compliance Status

AAOIFI Standard 21Updated Sep 1, 2026

Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Peripheral exposure (still halal, purify this share)
3.0%

Primary business is permissible. AAOIFI allows up to 5% revenue from incidental non-compliant sources, provided the share is purified.

  • •Travel Services: estimated 3.0% peripheral exposure (AAOIFI industry average)

Use the Purification Calculator to compute exactly how much of your dividend income to donate.

Compliance History

  1. Not Halalnow

    since Jun 2026

  2. Halal

    until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: EDGAR

Halal Alternatives in Consumer Cyclical

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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CUCKOO International (MAL) Berhad

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Frequently Asked Questions

Is Norwegian Cruise Line Holdings Ltd. (NCLH) halal to invest in?
Norwegian Cruise Line Holdings Ltd. (NCLH) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.
Why did Norwegian Cruise Line Holdings Ltd. get a F compliance rating?
Norwegian Cruise Line Holdings Ltd. (NCLH) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 187.5% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Norwegian Cruise Line Holdings Ltd.'s Shariah verdict?
Norwegian Cruise Line Holdings Ltd.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.
How often is Norwegian Cruise Line Holdings Ltd. re-screened for Shariah compliance?
Norwegian Cruise Line Holdings Ltd. (NCLH) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Sep 1, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.