Viking Holdings Ltd (VIK) Financial Ratios
5 years of historical data (2021–2025) · Consumer Cyclical · Travel Services
EV/EBITDA
↑
15.53
↓-13% vs avg
5yr avg: 17.79
30Y Low16.7·High18.9
P/FCF
↑
19.80
-3% vs avg
5yr avg: 20.40
30Y Low16.3·High24.5
P/B Ratio
32.53
+14% vs avg
5yr avg: 28.43
30Y Low28.4·High28.4
ROE
254.3%
+0% vs avg
5yr avg: 254.3%
30Y Low254%·High254%
Debt/EBITDA
↓
3.21
↓-55% vs avg
5yr avg: 7.16
30Y Low3.2·High16.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
VIK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Viking Holdings Ltd trades at 31.8x earnings, 64% below its 5-year average of 87.3x, sitting at the 50th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.3x, the stock trades at a premium of 65%. On a free-cash-flow basis, the stock trades at 19.8x P/FCF, roughly in line with the 5-year average of 20.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Market Cap | $25.8B | $31.9B | $19.0B | — | — | — |
| Enterprise Value | $27.7B | $33.8B | $22.2B | — | — | — |
| P/E Ratio → | 31.79 | 27.79 | 146.87 | — | — | — |
| P/S Ratio | 3.97 | 4.90 | 3.57 | — | — | — |
| P/B Ratio | 32.53 | 28.43 | — | — | — | — |
| P/FCF | 19.80 | 24.46 | 16.33 | — | — | — |
| P/OCF | 11.08 | 13.68 | 9.13 | — | — | — |
P/E links to full P/E history page with 30-year chart
VIK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Viking Holdings Ltd's enterprise value stands at 15.5x EBITDA, 13% below its 5-year average of 17.8x. The Consumer Cyclical sector median is 11.3x, placing the stock at a 37% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.20 | 4.17 | — | — | — |
| EV / EBITDA | 15.53 | 18.93 | 16.65 | — | — | — |
| EV / EBIT | 18.48 | 22.52 | 40.42 | — | — | — |
| EV / FCF | — | 25.95 | 19.10 | — | — | — |
VIK Profitability
Margins and return-on-capital ratios measuring operating efficiency
Viking Holdings Ltd earns an operating margin of 23.1%, significantly above the Consumer Cyclical sector average of 2.9%. Operating margins have expanded from 17.3% to 23.1% over the past 3 years, signaling improving operational efficiency. Return on equity of 254.3% is exceptionally high, though this is partly amplified by negative book value driven by aggressive share buybacks — well above the sector median of 5.8%. ROIC of 37.1% represents excellent returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | 39.0% | 39.0% | 36.7% | 34.1% | 23.5% | -46.6% |
| Operating Margin | 23.1% | 23.1% | 20.2% | 17.3% | 2.0% | -120.6% |
| Net Profit Margin | 17.7% | 17.7% | 2.9% | -39.3% | 12.5% | -337.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 254.3% | 254.3% | — | — | — | — |
| ROA | 10.3% | 10.3% | 1.6% | -22.6% | 5.1% | -27.5% |
| ROIC | 37.1% | 37.1% | 96.2% | — | 6.7% | — |
| ROCE | 26.3% | 26.3% | 23.8% | 20.7% | 1.7% | -20.7% |
VIK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Viking Holdings Ltd carries a Debt/EBITDA ratio of 3.2x, which is moderately leveraged (25% below the sector average of 4.3x). Net debt stands at $1.9B ($5.7B total debt minus $3.8B cash). Interest coverage of 4.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 5.12 | 5.12 | — | — | — | — |
| Debt / EBITDA | 3.21 | 3.21 | 4.17 | 5.19 | 16.05 | — |
| Net Debt / Equity | — | 1.73 | — | — | — | — |
| Net Debt / EBITDA | 1.08 | 1.08 | 2.42 | 3.75 | 12.36 | — |
| Debt / FCF | — | 1.49 | 2.77 | 5.78 | — | — |
| Interest Coverage | 4.14 | 4.14 | 2.83 | 1.70 | 0.14 | -1.89 |
VIK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.79x is below 1.0, meaning current liabilities exceed current assets — though the company's $3.8B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.54x to 0.79x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.79 | 0.79 | 0.62 | 0.54 | 0.53 | 0.72 |
| Quick Ratio | 0.77 | 0.77 | 0.60 | 0.53 | 0.52 | 0.71 |
| Cash Ratio | 0.67 | 0.67 | 0.45 | 0.36 | 0.31 | 0.47 |
| Asset Turnover | — | 0.53 | 0.53 | 0.55 | 0.40 | 0.08 |
| Inventory Turnover | 41.44 | 41.44 | 36.90 | 56.88 | 53.53 | 28.04 |
| Days Sales Outstanding | — | 7.97 | 16.36 | 27.67 | 66.40 | 423.50 |
VIK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Viking Holdings Ltd does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 3.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 0.1% | — | — | — |
| Payout Ratio | — | — | 12.4% | — | 11.7% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 3.6% | 0.7% | — | — | — |
| FCF Yield | 5.0% | 4.1% | 6.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.1% | — | — | — |
| Shares Outstanding | — | $446M | $432M | $431M | $431M | $431M |
Peer Comparison
Compare VIK with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 VIKYou | $26B | 31.8 | 15.5 | 19.8 | 39.0% | 23.1% | 254.3% | 37.1% | 3.2 |
 CCL | $32B | 12.8 | 8.0 | 12.2 | 29.6% | 16.8% | 25.6% | 8.9% | 3.8 |
 RCL | $71B | 16.9 | 14.3 | 57.8 | 46.8% | 27.4% | 47.5% | 12.2% | 3.5 |
 NCLH | $8B | 18.8 | 8.1 | — | 32.0% | 16.2% | 23.3% | 7.5% | 5.3 |
 ONEW | $180M | -1.5 | 13.0 | 2.3 | 21.7% | 3.3% | -33.9% | 3.6% | 11.5 |
 HGV | $4B | 52.2 | 12.7 | 16.4 | 56.7% | 11.1% | 4.9% | 5.0% | 8.8 |
 VAC | $3B | -8.3 | 10.7 | — | 15.1% | 11.0% | -13.9% | 5.7% | 8.2 |
 TNL | $4B | 18.3 | 10.2 | 7.5 | 27.2% | 17.8% | — | 13.0% | 5.8 |
 BKNG | $130B | 25.3 | 13.1 | 14.3 | 100.0% | 34.5% | — | — | 1.9 |
 EXPE | $33B | 25.3 | 11.3 | 10.5 | 84.1% | 13.4% | 48.4% | 40.2% | 2.3 |
 DAL | $46B | 9.3 | 7.6 | 12.0 | 22.8% | 9.2% | 27.8% | 12.0% | 2.6 |
| Consumer Cyclical Median | — | 19.3 | 11.3 | 14.6 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full VIK Stock Analysis
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Start ComparisonVIK — Frequently Asked Questions
Quick answers to the most common questions about buying VIK stock.
What is Viking Holdings Ltd's P/E ratio?
Viking Holdings Ltd's current P/E ratio is 31.8x. The historical average is 87.3x. This places it at the 50th percentile of its historical range.
What is Viking Holdings Ltd's EV/EBITDA?
Viking Holdings Ltd's current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.8x.
What is Viking Holdings Ltd's ROE?
Viking Holdings Ltd's return on equity (ROE) is 254.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 254.3%.
Is VIK stock overvalued?
Based on historical data, Viking Holdings Ltd is trading at a P/E of 31.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Viking Holdings Ltd's profit margins?
Viking Holdings Ltd has 39.0% gross margin and 23.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Viking Holdings Ltd have?
Viking Holdings Ltd's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.