Viking Holdings Ltd(VIK)Earnings, Financials & Key Ratios
VIK•NYSE
$81.71
$25.81B mkt cap·31.8× P/E·Price updated May 6, 2026
AboutViking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships. The company was founded in 1997 and is based in Pembroke, Bermuda.Show more
- Revenue$6.5B+21.9%
- EBITDA$1.79B+33.7%
- Net Income$1.15B+653.3%
- EPS (Diluted)2.57+756.7%
- Gross Margin38.96%+6.1%
- EBITDA Margin27.48%+9.7%
- Operating Margin23.1%+14.6%
- Net Margin17.65%+518.1%
- ROE254.35%
- ROIC37.11%-61.4%
- Debt/Equity5.12
- Interest Coverage4.14+46.6%
VIK Key Insights
Viking Holdings Ltd (VIK) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 254.3%
- ✓Strong Piotroski F-Score: 8/9
- ✓FCF machine: 20.0% free cash flow margin
- ✓High quality earnings: Operating CF exceeds net income
✗Weaknesses
- ✗High debt to equity ratio of 5.1x
- ✗Expensive at 32.5x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
VIK Price & Volume
Viking Holdings Ltd (VIK) stock price & volume — 10-year historical chart
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VIK Growth Metrics
Viking Holdings Ltd (VIK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years26.97%
TTM21.89%
Profit CAGR
10 Years-
5 Years-
3 Years42.26%
TTM718.51%
EPS CAGR
10 Years-
5 Years-
3 Years40.84%
TTM438.16%
Return on Capital
10 Years10.37%
5 Years10.37%
3 Years23.6%
Last Year26.31%
VIK Recent Earnings
Viking Holdings Ltd (VIK) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/8 qtrs (75%)●Beat Revenue 5/8 qtrs (63%)
Q2 2026Latest
Mar 3, 2026EPS
$0.67
Est $0.54
+23.2%
Revenue
$1.6B
Est $1.6B
-1.3%
Q4 2025
Nov 19, 2025EPS
$1.20
Est $1.20
+0.0%
Revenue
$2.0B
Est $2.0B
+0.3%
Q3 2025
Aug 19, 2025EPS
$0.99
Est $0.99
-0.5%
Revenue
$1.9B
Est $1.8B
+1.9%
Q2 2025
May 20, 2025EPS
$0.24
Est $0.29
+18.4%
Revenue
$897M
Est $841M
+6.6%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 3, 2026 | $0.67vs $0.54+23.2% | $1.6Bvs $1.6B-1.3% |
| Q4 2025 | Nov 19, 2025 | $1.20vs $1.20+0.0% | $2.0Bvs $2.0B+0.3% |
| Q3 2025 | Aug 19, 2025 | $0.99vs $0.99-0.5% | $1.9Bvs $1.8B+1.9% |
| Q2 2025 | May 20, 2025 | $0.24vs $0.29+18.4% | $897Mvs $841M+6.6% |
Based on last 8 quarters of dataView full earnings history →
VIK Peer Comparison
Viking Holdings Ltd (VIK) competitors in Cruise Lines — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CCL | 31.89B | 25.78 | 12.76 | 6.4% | 10.37% | 22.48% | 8.18% | 2.28 |
 RCL | 71.41B | 263.98 | 16.91 | 8.8% | 24.39% | 44.93% | 1.73% | 2.21 |
 NCLH | 7.72B | 16.94 | 18.82 | 3.67% | 5.66% | 27.04% | 6.61 | |
 ONEW | 180.26M | 10.85 | -1.50 | 5.62% | -5.88% | -33% | 43.84% | 3.38 |
 HGV | 3.78B | 46.48 | 52.22 | 1.32% | 3.84% | 13.33% | 6.09% | 5.10 |
 VAC | 2.53B | 73.72 | -8.35 | 1.31% | -7.37% | -15.31% | 2.89 | |
 TNL | 3.93B | 63.00 | 18.31 | 4.06% | 5.85% | 13.3% | ||
 BKNG | 129.89B | 167.63 | 25.32 | 13.39% | 22.23% | 7% |
Compare VIK vs Peers
Viking Holdings Ltd (VIK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VIK Income Statement
Viking Holdings Ltd (VIK) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|
| Sales/Revenue | 625.1M | 3.18B | 4.71B | 5.33B | 6.5B |
| Revenue Growth % | - | 408.07% | 48.32% | 13.23% | 21.89% |
| Cost of Goods Sold | 916.69M | 2.43B | 3.11B | 3.37B | 3.97B |
| COGS % of Revenue | 146.65% | 76.48% | 65.93% | 63.27% | 61.04% |
| Gross Profit | -291.59M▲ 0% | 747.1M▲ 356.2% | 1.6B▲ 114.8% | 1.96B▲ 22.1% | 2.53B▲ 29.3% |
| Gross Margin % | -46.65% | 23.52% | 34.07% | 36.73% | 38.96% |
| Gross Profit Growth % | - | 356.22% | 114.83% | 22.05% | 29.29% |
| Operating Expenses | 462.16M | 684.01M | 789.04M | 883.89M | 1.03B |
| OpEx % of Revenue | 73.93% | 21.54% | 16.75% | 16.57% | 15.86% |
| Selling, General & Admin | 462.16M | 684.01M | 789.04M | 883.89M | 1.03B |
| SG&A % of Revenue | 73.93% | 21.54% | 16.75% | 16.57% | 15.86% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -753.75M▲ 0% | 63.09M▲ 108.4% | 815.95M▲ 1193.3% | 1.08B▲ 31.8% | 1.5B▲ 39.7% |
| Operating Margin % | -120.58% | 1.99% | 17.32% | 20.16% | 23.1% |
| Operating Income Growth % | - | 108.37% | 1193.33% | 31.76% | 39.67% |
| EBITDA | -549.34M | 339.6M | 1.07B | 1.34B | 1.79B |
| EBITDA Margin % | -87.88% | 10.69% | 22.71% | 25.05% | 27.48% |
| EBITDA Growth % | - | 161.82% | 214.98% | 24.89% | 33.72% |
| D&A (Non-Cash Add-back) | 204.41M | 276.51M | 253.72M | 260.84M | 284.79M |
| EBIT | -1.71B | 864.06M | -1.36B | 550.32M | 1.5B |
| Net Interest Income | -396M | -442.59M | -431.92M | -311.11M | -277.7M |
| Interest Income | 1.93M | 14.04M | 48.03M | 69.37M | 84.88M |
| Interest Expense | 397.93M | 456.64M | 479.95M | 380.49M | 362.57M |
| Other Income/Expense | -1.35B | 344.33M | -2.66B | -905.23M | -333.79M |
| Pretax Income | -2.11B▲ 0% | 407.42M▲ 119.3% | -1.84B▼ 552.5% | 169.83M▲ 109.2% | 1.17B▲ 587.6% |
| Pretax Margin % | -337.1% | 12.83% | -39.14% | 3.18% | 17.96% |
| Income Tax | 5.03M | 8.9M | 6.64M | 16.86M | 19.65M |
| Effective Tax Rate % | -0.24% | 2.18% | -0.36% | 9.93% | 1.68% |
| Net Income | -2.11B▲ 0% | 398.56M▲ 118.9% | -1.85B▼ 564.3% | 152.33M▲ 108.2% | 1.15B▲ 653.3% |
| Net Margin % | -337.86% | 12.55% | -39.29% | 2.86% | 17.65% |
| Net Income Growth % | - | 118.87% | -564.31% | 108.23% | 653.34% |
| Net Income (Continuing) | -2.11B | 398.52M | -1.85B | 152.98M | 1.15B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 2.4M | 3.26M | 3.72M | 3.75M | 0 |
| EPS (Diluted) | -4.90▲ 0% | 0.92▲ 118.8% | -4.31▼ 568.5% | 0.30▲ 107.0% | 2.57▲ 756.7% |
| EPS Growth % | - | 118.78% | -568.48% | 106.96% | 756.67% |
| EPS (Basic) | -4.90 | 0.92 | -4.31 | 0.36 | 2.59 |
| Diluted Shares Outstanding | 431.46M | 431.46M | 431.46M | 431.6M | 446.42M |
| Basic Shares Outstanding | 431.46M | 431.46M | 431.46M | 364.01M | 443.5M |
| Dividend Payout Ratio | - | 11.66% | - | 12.44% | - |
VIK Balance Sheet
Viking Holdings Ltd (VIK) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|
| Total Current Assets | 2.91B | 2.16B | 2.35B | 3.22B | 4.5B |
| Cash & Short-Term Investments | 1.91B | 1.25B | 1.59B | 2.34B | 3.8B |
| Cash Only | 1.81B | 1.25B | 1.53B | 2.34B | 3.8B |
| Short-Term Investments | 100.92M | 945K | 55.29M | 0 | 0 |
| Accounts Receivable | 725.29M | 577.78M | 357.07M | 239.02M | 142.04M |
| Days Sales Outstanding | 423.5 | 66.4 | 27.67 | 16.36 | 7.97 |
| Inventory | 32.7M | 45.38M | 54.6M | 91.47M | 95.78M |
| Days Inventory Outstanding | 13.02 | 6.82 | 6.42 | 9.89 | 8.81 |
| Other Current Assets | 239.15M | 287.36M | 351.42M | 533.22M | 461.23M |
| Total Non-Current Assets | 4.78B | 5.69B | 6.14B | 6.9B | 7.73B |
| Property, Plant & Equipment | 4.57B | 5.47B | 5.89B | 6.66B | 7.53B |
| Fixed Asset Turnover | 0.14x | 0.58x | 0.80x | 0.80x | 0.86x |
| Goodwill | 7.8M | 7.8M | 0 | 0 | 0 |
| Intangible Assets | 72.57M | 58.09M | 62.13M | 61.06M | 0 |
| Long-Term Investments | 7.16M | 6.5M | 10.47M | 12.73M | 0 |
| Other Non-Current Assets | 103.87M | 137.86M | 136.85M | 115.46M | 140.63M |
| Total Assets | 7.69B▲ 0% | 7.86B▲ 2.2% | 8.5B▲ 8.1% | 10.12B▲ 19.1% | 12.23B▲ 20.9% |
| Asset Turnover | 0.08x | 0.40x | 0.55x | 0.53x | 0.53x |
| Asset Growth % | - | 2.21% | 8.13% | 19.12% | 20.87% |
| Total Current Liabilities | 4.04B | 4.1B | 4.36B | 5.22B | 5.72B |
| Accounts Payable | 108.16M | 194.89M | 244.58M | 236.38M | 259.01M |
| Days Payables Outstanding | 43.07 | 29.29 | 28.75 | 25.56 | 23.82 |
| Short-Term Debt | 211.63M | 251.56M | 253.02M | 469.77M | 401.09M |
| Deferred Revenue (Current) | 3.49B | 3.32B | 3.49B | 4.06B | 4.61B |
| Other Current Liabilities | 192.89M | 126.85M | 305.84M | 81.72M | 452M |
| Current Ratio | 0.72x | 0.53x | 0.54x | 0.62x | 0.79x |
| Quick Ratio | 0.71x | 0.52x | 0.53x | 0.60x | 0.77x |
| Cash Conversion Cycle | 393.45 | 43.93 | 5.34 | 0.68 | -7.04 |
| Total Non-Current Liabilities | 7.53B | 7.25B | 9.48B | 5.12B | 5.39B |
| Long-Term Debt | 4.54B | 4.94B | 5.04B | 4.87B | 5.13B |
| Capital Lease Obligations | 87.32M | 239.42M | 227.96M | 207.59M | 212.44M |
| Deferred Tax Liabilities | 4.04M | 5.26M | 4.08M | 4.7M | 0 |
| Other Non-Current Liabilities | 2.9B | 2.07B | 4.21B | 40.65M | 54.29M |
| Total Liabilities | 11.57B | 11.35B | 13.85B | 10.34B | 11.11B |
| Total Debt | 4.85B | 5.45B | 5.55B | 5.57B | 5.74B |
| Net Debt | 3.03B | 4.2B | 4.01B | 3.23B | 1.94B |
| Debt / Equity | - | - | - | - | 5.12x |
| Debt / EBITDA | - | 16.05x | 5.19x | 4.17x | 3.21x |
| Net Debt / EBITDA | - | 12.36x | 3.75x | 2.42x | 1.08x |
| Interest Coverage | -1.89x | 0.14x | 1.70x | 2.83x | 4.14x |
| Total Equity | -3.88B▲ 0% | -3.49B▲ 10.1% | -5.35B▼ 53.1% | -218.98M▲ 95.9% | 1.12B▲ 612.1% |
| Equity Growth % | - | 10.07% | -53.14% | 95.91% | 612.08% |
| Book Value per Share | -9.00 | -8.10 | -12.40 | -0.51 | 2.51 |
| Total Shareholders' Equity | -3.89B | -3.5B | -5.35B | -222.73M | 1.12B |
| Common Stock | 86K | 2.25M | 2.25M | 4.48M | 0 |
| Retained Earnings | -3.95B | -3.59B | -5.5B | -5.29B | 0 |
| Treasury Stock | 0 | 0 | 0 | -124.11M | 0 |
| Accumulated OCI | 0 | 0 | 0 | 177.22M | 0 |
| Minority Interest | 2.4M | 3.26M | 3.72M | 3.75M | 0 |
VIK Cash Flow Statement
Viking Holdings Ltd (VIK) cash flow — operating, investing & free cash flow history
| Line item | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|
| Cash from Operations | 359.81M | -15.44M | 1.37B | 2.08B | 2.33B |
| Operating CF Margin % | 57.56% | -0.49% | 29.11% | 39.03% | 35.84% |
| Operating CF Growth % | - | -104.29% | 8984.55% | 51.82% | 11.91% |
| Net Income | -2.11B | 398.56M | -1.86B | 152.98M | 1.15B |
| Depreciation & Amortization | 204.41M | 276.51M | 251.31M | 260.84M | 284.79M |
| Stock-Based Compensation | 23.9M | 25.26M | 17.91M | 14.11M | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.44B | -164.67M | 2.66B | 890.94M | 200.67M |
| Working Capital Changes | 1.25B | 39.87M | 299.34M | 763.13M | 696.91M |
| Change in Receivables | -8.18M | -401K | -2.42M | 0 | 0 |
| Change in Inventory | -7.02M | -12.68M | -9.22M | -36.55M | -4.31M |
| Change in Payables | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -677.39M | -856.38M | -634.23M | -853.71M | -1.03B |
| Capital Expenditures | -959.39M | -954.9M | -676.34M | -917.42M | -1.03B |
| CapEx % of Revenue | 153.48% | 30.07% | 14.36% | 17.2% | 15.79% |
| Acquisitions | 400M | 0 | 0 | -8.5M | 0 |
| Investments | - | - | - | - | - |
| Other Investing | -18M | -1.48M | 42.11M | 72.21M | 0 |
| Cash from Financing | 1.31B | 322.04M | -479.65M | -247.9M | 8.28M |
| Debt Issued (Net) | 897.8M | 424.29M | 84.74M | 61.53M | 45.35M |
| Equity Issued (Net) | 1000K | 912K | 0 | 1000K | 1000K |
| Dividends Paid | -51.22M | -46.46M | -49.63M | -18.95M | 0 |
| Share Repurchases | -200M | 0 | 0 | 0 | 0 |
| Other Financing | -383.41M | -459.67M | -514.76M | -534.41M | -59.34M |
| Net Change in Cash | 986.91M▲ 0% | -559.63M▼ 156.7% | 260.57M▲ 146.6% | 975.96M▲ 274.5% | 1.3B▲ 33.6% |
| Free Cash Flow | -599.58M▲ 0% | -970.33M▼ 61.8% | 695M▲ 171.6% | 1.16B▲ 67.6% | 1.3B▲ 11.9% |
| FCF Margin % | -95.92% | -30.55% | 14.75% | 21.83% | 20.04% |
| FCF Growth % | - | -61.83% | 171.62% | 67.57% | 11.89% |
| FCF per Share | -1.39 | -2.25 | 1.61 | 2.70 | 2.92 |
| FCF Conversion (FCF/Net Income) | -0.17x | -0.04x | -0.74x | 13.67x | 2.03x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
VIK Key Ratios
Viking Holdings Ltd (VIK) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | - | - | 254.35% |
| Return on Invested Capital (ROIC) | - | 6.71% | - | 96.22% | 37.11% |
| Gross Margin | -46.65% | 23.52% | 34.07% | 36.73% | 38.96% |
| Net Margin | -337.86% | 12.55% | -39.29% | 2.86% | 17.65% |
| Debt / Equity | - | - | - | - | 5.12x |
| Interest Coverage | -1.89x | 0.14x | 1.70x | 2.83x | 4.14x |
| FCF Conversion | -0.17x | -0.04x | -0.74x | 13.67x | 2.03x |
| Revenue Growth | - | 408.07% | 48.32% | 13.23% | 21.89% |
VIK Frequently Asked Questions
Viking Holdings Ltd (VIK) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Viking Holdings Ltd (VIK) reported $6.50B in revenue for fiscal year 2025. This represents a 940% increase from $625.1M in 2021.
Viking Holdings Ltd (VIK) grew revenue by 21.9% over the past year. This is strong growth.
Yes, Viking Holdings Ltd (VIK) is profitable, generating $1.15B in net income for fiscal year 2025 (17.7% net margin).
Dividend & Returns
Viking Holdings Ltd (VIK) has a return on equity (ROE) of 254.3%. This is excellent, indicating efficient use of shareholder capital.
Viking Holdings Ltd (VIK) generated $1.53B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Explore More VIK
Viking Holdings Ltd (VIK) financial analysis — history, returns, DCA and operating performance tools
Full VIK Stock Analysis
Analyst verdict, bull/bear case, risk factors and peer comparison
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates