AMZN
Amazon.com, Inc.
AMZN has the edge over NCLH overall, supported by stronger modeled upside and lower modeled downside.
NCLH
Norwegian Cruise Line Holdings Ltd.
NCLH offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
AMZN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Healthy |
AMZN's revenue, profitability and balance sheet are currently healthy, but its cash flow is weak.
NCLH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Weak |
NCLH's profitability is currently healthy, and its revenue is stable, but its cash flow and balance sheet are under pressure.
AMZN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 22x | $267 | — |
| Forward | 27x | $267 | — |
| Cheap | 34x | $415 | +55% |
| Fair | 60x | $745 | +179% |
| Expensive | 102x | $1,262 | +372% |
Historical ranges are pointers, not guarantees.
AMZN has the edge over NCLH in the historical PE scenario, which offers more potential upside but is not a forecast.
NCLH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 9.7x | $18.06 | — |
| Cheap | 9.9x | $18.49 | +2.4% |
| Forward | 14x | $18.06 | — |
| Fair | 16x | $29.39 | +63% |
| Expensive | 22x | $40.83 | +126% |
Historical ranges are pointers, not guarantees.
NCLH's PE is in its cheap range at 9.7x. Analysts expect earnings to fall, which would put today's price at 14x next year's earnings, in its fair range.
AMZN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
AMZN has the edge over NCLH on the outlook, with more favorable earnings and revenue expectations.
NCLH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect NCLH's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
AMZN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.87 | -20% |
| Q3 2026 | $12.37 | +75% |
| Q2 2026 | $12.43 | +89% |
| Q1 2026 | $8.36 | +36% |
| Q4 2025 | $7.17 | +30% |
| Q3 2025 | $7.08 | +52% |
| Q2 2025 | $6.56 | +57% |
| Q1 2025 | $6.14 | +72% |
| Q4 2024 | $5.53 | +91% |
AMZN has the edge over NCLH on earnings, with more consistent year-over-year improvement.
NCLH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.26 | -32% |
| Q3 2026 | $1.86 | +34% |
| Q2 2026 | $1.65 | +11% |
| Q1 2026 | $1.24 | -30% |
| Q4 2025 | $0.92 | -51% |
| Q3 2025 | $1.39 | +16% |
| Q2 2025 | $1.48 | +54% |
| Q1 2025 | $1.76 | +117% |
| Q4 2024 | $1.89 | +385% |
NCLH's earnings per share have fallen from their peak: $1.86 over the past year, against $4.30 in late 2019.
AMZN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $201.9B | +12% |
| Q2 2026 | $200.6B | +20% |
| Q1 2026 | $181.5B | +17% |
| Q4 2025 | $213.4B | +14% |
| Q3 2025 | $180.2B | +13% |
| Q2 2025 | $167.7B | +13% |
| Q1 2025 | $155.7B | +8.6% |
| Q4 2024 | $187.8B | +10% |
AMZN has the edge over NCLH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +4.2 points |
| Q2 2026 | 14% | +2.3 points |
| Q1 2026 | 13% | +1.3 points |
| Q4 2025 | 12% | +0.4 points |
| Q3 2025 | 9.7% | -1.3 points |
| Q2 2025 | 11% | +1.5 points |
| Q1 2025 | 12% | +1.1 points |
| Q4 2024 | 11% | +3.5 points |
AMZN's operating margin was 14% last quarter, up 4.2 points from the same quarter a year ago, near the top of its range since 2019.
NCLH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.9B | +0.3% |
| Q2 2026 | $2.6B | +4.9% |
| Q1 2026 | $2.3B | +9.6% |
| Q4 2025 | $2.2B | +6.4% |
| Q3 2025 | $2.9B | +4.7% |
| Q2 2025 | $2.5B | +6.1% |
| Q1 2025 | $2.1B | -2.9% |
| Q4 2024 | $2.1B | +6.2% |
NCLH's revenue has grown year over year for six quarters in a row: $2.9B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -4.3 points |
| Q2 2026 | 14% | -3.1 points |
| Q1 2026 | 10% | +0.6 points |
| Q4 2025 | 8.3% | -1.9 points |
| Q3 2025 | 26% | +0.9 points |
| Q2 2025 | 17% | +2.4 points |
| Q1 2025 | 9.4% | -0.5 points |
| Q4 2024 | 10% | +3.9 points |
NCLH has the edge over AMZN on profitability, with a higher operating margin.
AMZN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$34.8B | -8202% |
| Q2 2026 | -$8.8B | -2757% |
| Q1 2026 | -$18.2B | -$10.2B |
| Q4 2025 | $14.9B | -16% |
| Q3 2025 | $430M | -87% |
| Q2 2025 | $332M | -96% |
| Q1 2025 | -$8B | -297% |
| Q4 2024 | $17.8B | -36% |
AMZN's free cash flow was −$46.9B over the past year, against $10.6B the year before.
NCLH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$105.4M | +$621.2M |
| Q2 2026 | $144.9M | -62% |
| Q1 2026 | -$625.2M | +$220.8M |
| Q4 2025 | $21.5M | -86% |
| Q3 2025 | -$726.5M | -$531M |
| Q2 2025 | $381.2M | +15% |
| Q1 2025 | -$846M | -254% |
| Q4 2024 | $155.8M | +$544.5M |
NCLH has the edge over AMZN on cash flow, with more consistent year-over-year improvement.
AMZN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +26M shares |
| 1 year | +0.8% | +84M shares |
| 3 years | +3.5% | +371M shares |
| 5 years | +6.1% | +629M shares |
| Available history | +8.2% | +829M shares |
AMZN has 10.9B diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $3.3B |
NCLH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -3.5M shares |
| 1 year | -7.1% | -35.3M shares |
| 3 years | -10% | -51.2M shares |
| 5 years | +24% | +90.4M shares |
| Available history | +113% | +244M shares |
NCLH has the edge over AMZN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
AMZN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
AMZN has the edge over NCLH on leverage, with a lower net debt burden relative to earnings.
NCLH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 5.5x | High |
| Q1 2026 | 5.5x | High |
| Q4 2025 | 5.4x | High |
| Q3 2025 | 5.6x | High |
| Q2 2025 | 5.5x | High |
| Q1 2025 | 5.8x | High |
| Q4 2024 | 5.4x | High |
NCLH's net debt is about 5.7 years of its operating earnings (EBITDA), about the same as a year ago.
AMZN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 50.0 | Neutral |
AMZN's weekly RSI is 57 (neutral) and its Stochastic is 50 (neutral).
NCLH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.0 | Neutral |
| Stochastic | 62.4 | Neutral |
NCLH's weekly RSI is 53 (neutral) and its Stochastic is 62 (neutral).
AMZN PE vs Consumer Cyclical Sector
| Metric | AMZN | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 18x | 20% above |
| PE % | 4 | 47 | 43 pts below |
AMZN is trading at 22x earnings, a 20% premium to the Consumer Cyclical sector's median of 18x, though its recent earnings include one-off gains.
NCLH PE vs Consumer Cyclical Sector
| Metric | NCLH | Sector median | Relative |
|---|---|---|---|
| PE | 9.7x | 18x | 46% below |
| PE % | 15 | 47 | 32 pts below |
NCLH has the edge over AMZN on valuation relative to its sector.
AMZN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $253.6 | 5.5% above |
| 20 week MA | $254.9 | 4.9% above |
| 50 week MA | $242.5 | 10% above |
| 100 week MA | $229.6 | 17% above |
| 200 week MA | $191.4 | 40% above |
AMZN has the edge over NCLH on trend strength, trading above more of its moving averages.
NCLH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $16.1 | 12% above |
| 20 week MA | $17.1 | 5.5% above |
| 50 week MA | $19.1 | 5.4% below |
| 100 week MA | $20.6 | 12% below |
| 200 week MA | $19.2 | 6.1% below |
NCLH has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 6.1% below its 200-week average.
AMZN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.5 | $158.6 | +70% |
| 2021 | $158.6 | $171.1 | +7.8% |
| 2022 | $171.1 | $85.3 | -50% |
| 2023 | $85.3 | $151.9 | +78% |
| 2024 | $151.9 | $223.8 | +47% |
| 2025 | $223.8 | $232.5 | +3.9% |
| 2026 YTD | $232.5 | $267.4 | +15% |
AMZN has the edge over NCLH on returns for 2026, with the stronger performance.
NCLH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $59.1 | $24.6 | -58% |
| 2021 | $24.6 | $22.7 | -7.6% |
| 2022 | $22.7 | $13.0 | -43% |
| 2023 | $13.0 | $20.0 | +54% |
| 2024 | $20.0 | $25.8 | +28% |
| 2025 | $25.8 | $22.8 | -11% |
| 2026 YTD | $22.8 | $18.1 | -21% |
NCLH has finished lower in four of the last six years. It's down 21% so far in 2026.