BIP vs NCLH
Brookfield Infrastructure Partners L.p. and Norwegian Cruise Line Holdings Ltd., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BIP | NCLH |
|---|---|---|
| Revenue | $23.1B | $9.8B |
| Net income | $2.5B | $423.2M |
| Gross margin | 26.9% | 42.6% |
| Net margin | 11.0% | 4.3% |
| Return on equity | 7.7% | 23.3% |
| Diluted EPS | $0.90 | $0.92 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $-53.0M | $-1.2B |
| Equity | · | $2.2B |
| Net debt / equity | · | 6.12× |
| Current ratio | 0.78× | 0.21× |
| Revenue CAGR 5y | 21.1% | 50.3% |
| Profit CAGR 5y | 22.9% | · |
BIP bills 2.4× the revenue of NCLH, and keeps more of each dollar of revenue as profit (11.0% against 4.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | BIP | NCLH |
|---|---|---|
| FY2025 | $23.1B | $9.8B |
| FY2024 | $21.0B | $9.5B |
| FY2023 | $17.9B | $8.5B |
| FY2022 | $14.4B | $4.8B |
| FY2021 | $11.5B | $648.0M |
| FY2020 | $8.9B | $1.3B |
| FY2019 | $6.6B | $6.5B |
| FY2018 | $4.7B | $6.1B |
| FY2017 | $3.5B | $5.4B |
| FY2016 | $2.1B | $4.9B |
Bottom line
| Fiscal year | BIP | NCLH |
|---|---|---|
| FY2025 | $2.5B | $423.2M |
| FY2024 | $1.7B | $910.3M |
| FY2023 | $1.4B | $166.2M |
| FY2022 | $1.4B | $-2.3B |
| FY2021 | $2.7B | $-4.5B |
| FY2020 | $904.0M | $-4.0B |
| FY2019 | $650.0M | $930.2M |
| FY2018 | $806.0M | $954.8M |
| FY2017 | $574.0M | $759.9M |
| FY2016 | $528.0M | $633.1M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$13,272,408,000 | BIP |
| FY2024 | +$11,559,349,000 | BIP |
| FY2023 | +$9,381,076,000 | BIP |
| FY2022 | +$9,583,240,000 | BIP |
| FY2021 | +$10,889,014,000 | BIP |
| FY2020 | +$7,605,092,000 | BIP |
| FY2019 | +$134,624,000 | BIP |
| FY2018 | −$1,403,126,000 | NCLH |
| FY2017 | −$1,861,175,000 | NCLH |
| FY2016 | −$2,759,340,000 | NCLH |
| FY2015 | −$2,490,048,000 | NCLH |
The higher-revenue side has changed between BIP and NCLH over this period. The gap has widened since the earliest year compared.
11 of 15 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +6.7 pp | BIP |
| FY2024 | −1.6 pp | NCLH |
| FY2023 | +6.1 pp | BIP |
| FY2022 | +56.4 pp | BIP |
| FY2021 | +719.0 pp | BIP |
| FY2020 | +323.7 pp | BIP |
| FY2019 | −4.5 pp | NCLH |
| FY2018 | +1.6 pp | BIP |
| FY2017 | +2.2 pp | BIP |
| FY2016 | +12.0 pp | BIP |
| FY2015 | +11.2 pp | BIP |
The higher net margin has changed hands between BIP and NCLH over this period.
11 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NCLH's net margin has been more volatile than BIP's over the 11 comparable fiscal years — 213.0 percentage points of standard deviation against 6.1.
11 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BIP and NCLH over these 11 fiscal years — BIP led in 9 and NCLH in 2.
11 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NCLH's return on equity has been more volatile than BIP's over the 11 comparable fiscal years — 83.1 percentage points of standard deviation against 2.0.
11 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BIP and NCLH over these 11 fiscal years — BIP led in 3 and NCLH in 8.
11 of 15 comparable fiscal years — a year missing data on either side is not counted.