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CIK 1318742

NCL CORPORATION LTD.
CIK 0001318742 · EDGAR ↗
cleanelevatedtriggeredno dataplanned
100.0
composite · 2 signals · ELEVATED

Every card below shows the score and the exact filing data it was computed from — no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded — never a guess.

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Signals

P-05 · FY 2025-12-31 · ELEVATED100.0

Tax arbitrage

ETR 0.5% vs 21% statutory — gap persistent across 2 of 2 years
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-02)
Evidence — inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.0053,
    "2024-12-31": -0.143
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.2047,
    "2024-12-31": 0.353
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1318742/000110465926022070/0001104659-26-022070-index.htm",
    "form": "10-K",
    "filed": "2026-03-02"
  }
}
P-13 · FY 2023-12-31 · ELEVATED20.0

Zombie / distress

[FY2023 data, stale — no more recent EBIT figure in XBRL] Altman Z'' -2.65 in the distress zone
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-02)
Evidence — inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": 1.115,
    "2022-12-31": -1.732
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": -2.645,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 931993000,
    "interest_expense_t": 836000000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1318742/000110465926022070/0001104659-26-022070-index.htm",
    "form": "10-K",
    "filed": "2026-03-02"
  }
}