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Public Comps and Valuation Multiples
for Cruises

Benchmark revenue and EBITDA valuation multiples for public comps like Havila Kystruten, EIH, Royal Caribbean, Carnival Corp. and Kiriacoulis Mediterranean.

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Cruises

See analyst estimates and all valuation multiples for Cruises

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
Royal Caribbean	$108B	6.1x	16.2x
Carnival Corp.	$69.1B	2.6x	10.2x
Carnival plc	$62.8B	2.4x	9.2x
Viking Cruises	$31.0B	5.1x	19.0x
Norwegian Cruise Line	$25.1B	2.5x	9.5x
EIH	$2.8B	8.7x	23.9x
Bonheur	$1.2B	1.0x	3.8x
Lindblad Expeditions	$1.1B	1.6x	10.6x
Havila Kystruten	$416M	2.5x	12.1x
Kiriacoulis Mediterranean	$26.6M	n/a	n/a
Bestone.com	$20.2M	1.2x	n/a