Viking Holdings Ltd (VIK)
Viking Holdings Ltd focused on providing passenger cruises in North America, the United Kingdom, and internationally. It operates through the River and Ocean segments. The Group defines its products based on the type of cruise offering and language of the cruise service. The River segment provides river cruises outside the United States for English-speaking passengers. The Ocean segment provides ocean cruises for English-speaking passengers. The company provides expedition cruises for English-speaking passengers, Mississippi River cruises for English-speaking passengers and Viking Asia, which includes cruises in languages other than English provided. As of December 31, 2025, Viking Holdings Ltd operated a fleet of 103 ships, including 89 river vessels comprising 59 Longships, 12 smaller classes based on the Longship design,15 other river vessels, and three river vessel charters, including the Viking Saigon, Viking Mississippi, and the Viking Tonle; 12 ocean ships and 2 expedition ships. The company was formerly known as MISA Investments Limited and changed its name to Viking Holdings Ltd in November 2016. The company was founded in 1997 and is based in Pembroke, Bermuda.
- Symbol
- VIK
- Exchange
- NYSE
- Sector
- Consumer Cyclical
- Industry
- Travel Services
- Market cap
- $35.95B
- 52 week range
- 56.37 - 110.09
Valuation
- Share price
- $80.30 (close of 2026-09-23)
- P/E (TTM)
- 31.29x
- Price to book
- 32.06x
- Price to free cash flow
- 14.04x
- Enterprise value
- $37.88B
- Book value per share
- $2.53
Price performance
| Period | Change |
|---|
| 1 day | -6.68% |
| 5 days | -5.58% |
| 1 month | -13.46% |
| 3 months | -20.61% |
| 6 months | +11.73% |
| Year to date | +12.45% |
| 1 year | +31.10% |
| All time | +207.67% |
Profitability and growth
- Return on equity
- 102.34%
- Return on invested capital
- 48.45%
- Return on assets
- 9.38%
- Return on capital employed
- 23.05%
- Gross margin
- 43.34%
- Net margin
- 17.65%
- EBITDA margin
- 23.10%
- Revenue growth
- 21.89%
- Net income growth
- 653.34%
- Free cash flow growth
- 22.97%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 7.12%
- Current ratio
- 0.79x
- Net debt to EBITDA
- 1.08x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $6.50B
- Cost of revenue
- $3.68B
- Gross profit
- $2.82B
- EBITDA
- $1.50B
- Net income
- $1.15B
- Earnings per share
- $2.59
- Shares outstanding
- 443.50M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $6.50B | $2.82B | $1.15B | $2.59 |
| 2024-12-31 | $5.33B | $2.22B | $152.33M | $0.36 |
| 2023-12-31 | $4.71B | $1.86B | $-1.85B | $-4.42 |
| 2022-12-31 | $3.18B | $1.02B | $414.72M | $1.11 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 43.34% | 17.65% | 102.34% | 48.45% |
| 2024-12-31 | 41.62% | 2.86% | -69.56% | 36.95% |
| 2023-12-31 | 39.46% | -39.29% | 35.12% | - |
| 2022-12-31 | 32.23% | 13.06% | -12.12% | 6.93% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $3.80B | $5.13B |
| 2024-12-31 | $2.49B | $4.87B |
| 2023-12-31 | $1.51B | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $2.56B | $88.52M |
| 2024-12-31 | $2.08B | $14.11M |
| 2023-12-31 | $1.37B | $17.91M |
| 2022-12-31 | $372.67M | $25.26M |
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-19 | Jun/2026 | $1.25 |
| 2026-05-14 | - | - |
| 2026-03-03 | - | - |
| 2025-11-19 | - | - |
| 2025-08-19 | - | - |
| 2025-05-20 | - | - |
| 2025-03-11 | - | - |
| 2024-11-19 | - | - |
Filings and sources
- Company website
- viking.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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